Property and equipment, net consists of the following at:

  ​ ​ ​

December 31, 

  ​ ​ ​

December 31, 

(in thousands)

2025

2024

Office furniture and equipment

$

512

$

512

Lab equipment

 

3,533

 

3,144

Computer equipment and software

 

1,194

 

994

Leasehold improvements

 

827

 

542

Capital equipment in process

 

325

 

720

 

6,391

 

5,912

Less: Accumulated depreciation and amortization

 

4,148

 

3,407

$

2,243

$

2,505

Historical Timeline

Fiscal YearFiled
2025Feb 13, 2026Showing above
2024Feb 18, 2025
2023Feb 9, 2024
2022Feb 10, 2023

About PP&E Disclosures

The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.

Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.