Property and equipment, net, consist of the following at:

 

   June 30,
2025
   June 30,
2024
 
Equipment  $36,281   $8,217 
Leasehold improvements   7,806    3,481 
Total   44,087    11,698 
Less: accumulated depreciation   (11,539)   (1,126)
Total property and equipment, net  $32,548   $10,572 

Historical Timeline

Fiscal YearFiled
2025Aug 22, 2025Showing above
2024Sep 20, 2024

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.