v3.26.1
Property, Equipment and Software
3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Property, Plant and Equipment [Abstract]    
Property, Equipment and Software
5. Property, Equipment and Software
Property, equipment and software consisted of the following as of March 31, 2026, and December 31, 2025 (in thousands
)
:
 
    
March 31,
2026
    
December 31,
2025
 
Probe cards and photomasks
   $ 12,766      $ 12,512  
Equipment
     5,050        4,713  
Software
     353        352  
Leasehold improvements
     913        903  
Furniture and fixtures
     291        289  
  
 
 
    
 
 
 
Total
     19,373        18,769  
Less: Accumulated depreciation and amortization
     (15,051      (14,632
  
 
 
    
 
 
 
Property, equipment and software, net
   $ 4,322      $ 4,137  
  
 
 
    
 
 
 
Depreciation expense relating to the Company’s property, equipment and software was approximately $0.4 million for each of the three months ended March 31, 2026 and 2025, and is allocated to cost of sales, selling, general and administrative, and research and development costs in the accompanying unaudited condensed consolidated statements of operations and comprehensive loss.
 
 
During the three months ended March 31, 2025, the Company received mask sets in exchange for no consideration from a vendor in lieu of reimbursement. The mask sets were capitalized and a $1.6 million gain was recorded within cost of sales in accordance with ASC 845:
Nonmonetary Transactions
.
5. Property, Equipment and Software
Property, equipment and software consisted of the following as of December 31, 2025 and 2024 (in thousands
)
:
 
    
2025
    
2024
 
Probe cards and photomasks
   $ 12,512      $ 10,083  
Equipment
     4,713        4,386  
Software
     352        298  
Leasehold improvements
     903        728  
Furniture and fixtures
     289        279  
  
 
 
    
 
 
 
Total
     18,769        15,774  
Less: Accumulated depreciation and amortization
     (14,632      (13,158
  
 
 
    
 
 
 
Property, equipment and software, net
   $ 4,137      $ 2,616  
  
 
 
    
 
 
 
Depreciation expense relating to the Company’s property, equipment and software was approximately $1.5 million and $1.6 million for the years ended December 31, 2025 and 2024, respectively, and is allocated to cost of sales, selling, general and administrative, and research and development costs in the accompanying consolidated statements of operations and comprehensive loss.
During the years ended December 31, 2025 and 2024, the Company received mask sets in exchange for no consideration from a vendor in lieu of reimbursement. The mask sets were capitalized and a $1.6 million gain was recorded during each period within cost of sales in accordance with ASC 845:
Nonmonetary Transactions
.