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Assets for Lease, Net

9 Months Ended

Sep. 30, 2025

6. Assets for Lease, Net

The Company provides financing of certain equipment through operating leases (see Note 15 to the unaudited condensed consolidated financial statements). Assets for lease consist of the following:


	September 30,		December 31,
	2025		2024
Assets for lease	$	1,626	$	2,522
Less: accumulated depreciation		(287)		(1,099)
Assets for lease, net	$	1,339	$	1,423

Depreciation expense amounted to $34 and $71 for the three months ended September 30, 2025 and 2024, respectively. Depreciation expense amounted to $147 and $261 for the nine months ended September 30, 2025 and 2024, respectively. Reduction to accumulated depreciation for returned and retired items was $25 and $80 for the three months ended September 30, 2025 and 2024, respectively. Reduction to accumulated depreciation for returned and retired items was $159 and $184 for the nine months ended September 30, 2025 and 2024, respectively. Additionally, during the nine-month period ended September 30, 2025, the Company removed leased assets for $827 and depreciation for $800 for assets that are no longer in use, resulting in a net assets write-off of $27, which is included in cost of revenues in the unaudited condensed consolidated statements of operations. The Company recognized a loss on disposal of assets for lease in the amount of $33 and $4 for the three months ended September 30, 2025 and 2024, respectively. The Company recognized a total loss on disposal of assets for lease in the amount of $193 and $323 for the nine months ended September 30, 2025 and 2024, respectively. These losses primarily result from customer returns and scrap.