Property and equipment, net, consists of the following as of December 31, 2024 and 2023:

 

   Estimated  December 31,   December 31, 
   Useful Lives  2024     2023 
Leasehold improvements  Shorter of the remaining lease term or estimated useful life  $50   $50 
Machinery, equipment and computer software  1 to 15 years   169    169 
Furniture and fixtures  3 to 5 years   208    208 
Total     $427   $427 
Less: Accumulated depreciation and amortization      (188)   (83)
Total property and equipment, net     $239   $344 

Historical Timeline

Fiscal YearFiled
2024Apr 15, 2025Showing above
2023Apr 1, 2024
2016Mar 31, 2017
2015Mar 29, 2016

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.