Property, plant and equipment

12 Months Ended

Dec. 31, 2024

Property, plant and equipment [abstract]

Property, plant and equipment:


	December 31, 2024		December 31, 2023
Property, plant and equipment owned	$	9,000	$	102,206
Right-of-use assets	21,424		14,119
	$	30,424	$	116,325

Property, plant and equipment owned


Net carrying amounts	December 31, 2024		December 31, 2023

Computer equipment	$	545	$	1,405
Furniture and fixtures	3,300		1,436
Leasehold improvements	3,600		2,245
Production and test equipment	95,081		97,120
Impairment reserve	(93,526)		—
	$	9,000	$	102,206


Cost	December 31, 2023		Additions		Disposals		Reclass		Effect of movements in exchange rates		December 31, 2024
Building	$	—	$	852	$	—	$	(852)	$	—	$	—
Computer equipment	7,356		178		—		—		—		7,534
Furniture and fixtures	2,764		10		(376)		3,101		(3)		5,496
Leasehold improvements	10,780		1,227		—		2,335		7		14,349
Production and test equipment	146,097		23,075		—		(5,574)		(10)		163,588

	$	166,997	$	25,342	$	(376)	$	(990)	$	(6)	$	190,967


Accumulated depreciation	December 31, 2023		Depreciation		Disposals		Impairment		Reclass		Effect of movements in exchange rates		December 31, 2024
Building	$	—	$	—	$	—	$	852	$	(852)			$	—
Computer equipment	5,951		455		—		585		—		(2)		6,989
Furniture and fixtures	1,328		474		(200)		458		140		(4)		2,196
Leasehold improvements	8,535		1,171		87		850		109		(3)		10,749
Production and test equipment	48,977		6,714		—		13,199		(387)		4		68,507
Impairment reserve	—		(1,550)		—		95,076		—		—		$	93,526
	$	64,791	$	7,264	$	(113)	$	111,020	$	(990)	$	(5)	$	181,967

During the year ended December 31, 2024, the Corporation recognized impairment charges on property, plant, and equipment of $111,020,000 consisting of a net fair value impairment allowance against consolidated capital assets of $95,076,000 to impair these operating assets to their estimated residual fair value of approximately $9,000,000 (based on a level 3 fair value determination) and a write-down of certain specific assets of $15,944,000 located primarily in Canada, Denmark, and China, primarily as a result of the global corporate restructuring initiated in September 2024. In the event that the Corporation's market capitalization recovers in the future, this impairment may be reversed.

During the year ended December 31, 2024, the Corporation disposed of certain small stationary assets in Denmark consisting of property, plant, and equipment of $263,000 and inventory of $2,907,000 for net proceeds of $3,170,000, resulting in a gain/loss of $nil.

9. Property, plant and equipment (cont'd):

Property, plant and equipment owned (cont'd)

During the year ended December 31, 2023, impairment charges of $967,000 consisted primarily of a write-down of assets in China of $936,000 and charges of $31,000 for production and test equipment that was never placed in service and was determined not required to support the Corporation's future manufacturing or testing capabilities.


Cost	December 31, 2022		Additions		Disposals		Reclass		Effect of movements in exchange rates		December 31, 2023

Building	$	—	$	936	$	—	$	—	$	—	$	936
Computer equipment	6,741		745		—		(130)		—		7,356
Furniture and fixtures	2,406		328		—		—		30		2,764
Leasehold improvements	9,650		1,103		—		—		27		10,780
Production and test equipment	109,202		38,102		(111)		(1,041)		(55)		146,097
	$	127,999	$	41,214	$	(111)	$	(1,171)	$	2	$	167,933


Accumulated depreciation	December 31, 2022		Depreciation		Disposals		Impairment		Reclass		Effect of movements in exchange rates		December 31, 2023

Building	$	—	$	—	$	—	$	936	$	—	$	—	$	936
Computer equipment	5,534		491		—		—		(73)		(1)		5,951
Furniture and fixtures	1,083		245		—		—		(12)		12		1,328
Leasehold improvements	8,100		431		—		—		4		—		8,535
Production and test equipment	42,938		7,132		(23)		31		(1,090)		(11)		48,977
	$	57,655	$	8,299	$	(23)	$	967	$	(1,171)	$	—	$	65,727

Right-of-use assets

The Corporation leases certain assets under lease agreements, comprising primarily of leases of land and buildings, office equipment and vehicles (note 18).


Net carrying amounts included in property, plant and equipment	December 31, 2024		December 31, 2023
Property	$	21,179	$	13,691
Equipment	34		70
Vehicle	211		358
	$	21,424	$	14,119


Cost	December 31, 2023		Additions		De-recognition		Reclass		Effect of movements in exchange rates		December 31, 2024
Property	$	34,447	$	13,460	$	(14,731)	$	102	$	14	$	33,292
Equipment	176		—		—		—		—		176
Vehicle	637		91		(353)		263		(10)		628
	$	35,260	$	13,551	$	(15,084)	$	365	$	4	$	34,096

9. Property, plant and equipment (cont'd):

Right-of-use assets (cont'd)


Accumulated depreciation	December 31, 2023		Depreciation		De-recognition		Reclass		Effect of movements in exchange rates		December 31, 2024
Property	$	20,757	$	3,794	$	(12,434)	$	1	$	(5)	$	12,113
Equipment	106		35		—		—		1		142
Vehicle	278		121		(353)		364		7		417
	$	21,141	$	3,950	$	(12,787)	$	365	$	3	$	12,672


Cost	December 31, 2022		Additions		De-recognition		Effect of movements in exchange rates		December 31, 2023
Property	$	28,844	$	5,676	$	(73)	$	—	$	34,447
Equipment	188		—		(11)		(1)		176
Vehicle	637		150		(135)		(15)		637
	$	29,669	$	5,826	$	(219)	$	(16)	$	35,260


Accumulated depreciation	December 31, 2022		Depreciation		De-recognition		Effect of movements in exchange rates		December 31, 2023
Property	$	17,357	$	3,382	$	(3)	$	21	$	20,757
Equipment	72		41		(7)		—		106
Vehicle	223		109		(58)		4		278
	$	17,652	$	3,532	$	(68)	$	25	$	21,141