Property and equipment, net consist of the following:

 

   As of 
   December 31, 
   2025   2024 
Computer equipment  $316   $235 
Furniture, fixtures and other   379    352 
Laboratory equipment   978    913 
Leasehold improvements   553    553 
Property and equipment not yet placed into service   1    80 
Total property and equipment   2,227    2,133 
Less: Accumulated depreciation   (1,468)   (1,106)
Total  $759   $1,027 

Historical Timeline

Fiscal YearFiled
2025Mar 10, 2026Showing above
2024Mar 5, 2025
2023Mar 13, 2024
2022Mar 8, 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.