The estimated useful lives of Xanadu’s property and equipment are as follows: | | | | | | | Computer systems and servers | 3 years | | Lab equipment | 7 years | | Test and computer equipment | 7 years | | Furniture and fixtures | 3 years | | Leasehold improvements | Shorter of lease term or estimated useful life |
Property and equipment, net consisted of the following as of June 30, 2026 and December 31, 2025: | | | | | | | | | | | | | June 30,
2026 | | December 31,
2025 | | Computer systems and servers | $ | 1,290 | | | $ | 1,083 | | | Test and computer equipment | 17,239 | | | 16,988 | | | Lab equipment | 9,608 | | | 9,604 | | | Furniture and fixtures | 275 | | | 286 | | | Leasehold improvements | 3,880 | | | 3,637 | | | Total | $ | 32,292 | | | $ | 31,598 | | | Less: Accumulated depreciation | (15,022) | | | (13,285) | | | Property and equipment, net | $ | 17,270 | | | $ | 18,313 | |
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