Property and equipment consists of the following (in thousands):
December 31,
20252024
Laboratory equipment$— $463 
Furniture and office equipment222 200 
Computers and hardware439 701 
Leasehold improvements139 710 
Finance lease right-of-use assets
Total property and equipment803 2,082 
Less: accumulated depreciation and amortization(314)(1,726)
Property and equipment, net$489 $356 

Historical Timeline

Fiscal YearFiled
2025Mar 9, 2026Showing above
2024Mar 12, 2025
2023Apr 1, 2024
2022Mar 7, 2023
2021Mar 31, 2022
2020Mar 12, 2021
2019Feb 28, 2020
2018Mar 1, 2019
2017Mar 30, 2018
2016Mar 10, 2017
2015Mar 16, 2016

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.