Note 2 - Property and Equipment |
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| Property, Plant, and Equipment [Text Block] |
Note 2. Property and Equipment
Property and equipment are stated at cost less accumulated depreciation. Depreciation for Gamma Knife equipment, LINAC units and other equipment is determined using the straight-line method over the estimated useful lives of the assets, which for medical and office equipment is generally between and years, and after accounting for salvage value on the equipment where applicable.
Depreciation for PBRT equipment is determined using the modified units of production method, which is a function of both time and usage of the equipment. This depreciation method allocates costs considering the projected volume of usage through the useful life of the PBRT unit, which has been estimated at 20 years. The estimated useful life of the PBRT unit is consistent with the estimated economic life of 20 years. During the first quarter of 2026, the Company amended its lease for the PBRT equipment with Orlando Health. The amendment extended the lease an additional years, beginning April 6, 2026. Following the amendment, the Company changed its remaining estimate for the useful life for the PBRT equipment. The net effect of this change in estimate for the three and six-month periods ended June 30, 2026, was a decrease in net income of approximately $52,000 or $0.01 per diluted share, for both periods. This change in estimate will also impact future periods.
The following table summarizes property and equipment as of June 30, 2026 and December 31, 2025:
Depreciation expense recorded in costs of revenue and selling and administrative expense in the condensed consolidated statements of operations for the three and six-month periods ended June 30, 2026 and 2025 is as follows:
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