Property and equipment consist of the following:

 

 

As of December 31,

 

 

As of December 31,

 

 

 

2025

 

 

2024

 

Computers and purchased software

 

$

2,197

 

 

$

1,945

 

Capitalized software

 

 

750

 

 

 

 

Furniture and fixtures

 

 

3,372

 

 

 

2,229

 

Leasehold improvements

 

 

9,124

 

 

 

6,217

 

 

 

15,443

 

 

 

10,391

 

Less: accumulated depreciation

 

 

(5,273

)

 

 

(3,631

)

Total property and equipment, net

 

$

10,170

 

 

$

6,760

 

Historical Timeline

Fiscal YearFiled
2025Feb 27, 2026Showing above
2024Feb 28, 2025
2023Mar 13, 2024
2022Mar 27, 2023
2021Mar 21, 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.