Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation of property and equipment and amortization of leasehold improvement are computed on a straight-line basis over the estimated useful lives of the related assets, as follows:


Asset Category						Estimated Useful Life
Computers and software						Up to 3 years
Furniture and fixtures						Up to 5 years
Machinery and equipment						Up to 10 years
Leasehold improvements						Shorter of economic life or remaining lease term

Property and equipment, net consisted of the following:


	December 31,
	2024		2023
	(in thousands)
Property and equipment, at cost:
Machinery and equipment	$	78,908	$	74,462
Leasehold improvements	23,901		24,105
Internal-use software	11,681		9,964
Computers and software	7,396		7,565
Construction in progress	5,583		4,786
Furniture and fixtures	2,128		2,127

Total property and equipment, at cost	129,598		123,009
Less: accumulated depreciation and amortization	(61,118)		(45,187)
Property and equipment, net	$	68,480	$	77,822

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.

ThredUp Inc. PP&E Disclosure

About PP&E Disclosures

Other Available Disclosures