Property, Equipment and Software

9 Months Ended

Sep. 30, 2025

Property, Plant and Equipment [Abstract]

5. Property, Equipment and Software

Property, equipment and software consisted of the following as of September 30, 2025, and December 31, 2024 (in thousands):


	September 30, 2025			December 31, 2024
Probe cards and photomasks	$	12,435		$	10,083
Equipment		4,642			4,386
Software		331			298
Leasehold improvements		896			728
Furniture and fixtures		290			279
Total		18,594			15,774
Less: Accumulated depreciation and amortization		(14,244	)		(13,158	)
Property, equipment and software, net	$	4,350		$	2,616

Depreciation expense relating to the Company's property, equipment and software was approximately $0.3 million and $0.3 million for the three months ended September 30, 2025 and 2024, respectively. Depreciation and amortization expense relating to the Company’s property, equipment and software was approximately $1.1 million and $1.1 million for the nine months ended September 30, 2025 and 2024, respectively, 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 nine months ended September 30, 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 within cost of sales in accordance with ASC 845: Nonmonetary Transactions.