Quarterly report [Sections 13 or 15(d)]

Property and Equipment

v3.26.1
Property and Equipment
3 Months Ended
Mar. 31, 2026
Property, Plant and Equipment [Abstract]  
Property and Equipment

Note 5 – Property and Equipment

Property and equipment consisted of the following:

 

 

 

March 31,

 

 

December 31,

 

 

 

2026

 

 

2025

 

Furniture and equipment

 

$

3,617

 

 

$

3,581

 

Computers and software

 

 

20,135

 

 

 

19,283

 

Vehicles

 

 

285

 

 

 

285

 

Leasehold improvements

 

 

7,386

 

 

 

7,386

 

Construction in progress

 

 

954

 

 

 

1,475

 

Less: accumulated depreciation

 

 

(22,196

)

 

 

(21,119

)

Total property and equipment

 

$

10,181

 

 

$

10,891

 

 

Depreciation expense for the three months ended March 31, 2026 and 2025 was $1,079 and $986, respectively.

During the year ended December 31, 2025, the Company determined that the carrying amount of certain property and equipment assets exceeded their fair values and recorded an impairment of $2,306. The impairment charges were primarily related to software assets of BFT, for which the Company no longer had established cash flows to support continued recognition of such assets. The fair values of software assets were determined by assumptions that are considered Level 3 inputs.