Property and equipment are recorded at cost and depreciated using the straight-line method over the following useful lives:
Years
Equipment (includes computer hardware and software)
3 - 5
Furniture and fixtures5
Vehicles5
Property and equipment, net consist of (in thousands):
 June 30,
 20252024
Equipment (includes computer hardware and software)$16,998 $15,766 
Furniture and fixtures1,469 1,466 
Leasehold improvements5,101 5,040 
Vehicles51 51 
Accumulated depreciation(17,412)(14,510)
Total property and equipment, net$6,207 $7,813 

Historical Timeline

Fiscal YearFiled
2025Sep 4, 2025Showing above
2024Aug 28, 2024
2023Aug 28, 2023
2022Aug 23, 2022
2021Aug 19, 2021
2020Aug 18, 2020
2019Aug 14, 2019
2018Aug 15, 2018
2017Sep 7, 2017
2016Dec 12, 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.