Property and equipment, net consisted of the following (in thousands):

December 31, 

December 31, 

  ​ ​ ​

2025

2024

Laboratory and demonstration equipment

$

5,080

$

3,812

Standard tools and machinery

2,222

Computer equipment and software

 

293

 

337

Furniture and fixtures

 

282

 

481

Construction in progress

41

Leasehold improvements

 

763

 

477

 

8,640

 

5,148

Less: Accumulated depreciation and amortization

 

(4,408)

 

(3,553)

$

4,232

$

1,595

Historical Timeline

Fiscal YearFiled
2025Mar 9, 2026Showing above
2024Mar 7, 2025
2023Mar 8, 2024
2022Mar 15, 2023
2021Mar 11, 2022

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.