Composition of Certain Consolidated Financial Statement Line Items

12 Months Ended

Dec. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Composition of Certain Financial Statement Line Items

Composition of Certain Consolidated Financial Statement Line Items

Property and Equipment, Net

Property and equipment consisted of the following:


(in thousands)	December 31, 2025		December 31, 2024
Laboratory equipment	$	6,531	$	6,469
Leasehold improvements	118		118
Computer hardware	542		484
Furniture, fixtures and office equipment	322		324
Prototype equipment	2,258		2,029
Construction in progress	1,807		1,186
	11,578		10,610
Less: Accumulated depreciation	(8,121)		(6,534)
Total	$	3,457	$	4,076

The Company recorded $1.7 million and $2.0 million of depreciation expense for the years ended December 31, 2025 and 2024, respectively, which was primarily allocated to research and development expense.

Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consisted of the following:


(in thousands)	December 31, 2025		December 31, 2024
Employee compensation	$	2,514	$	1,343
Accrued professional and consulting fees	259		219
Accrued research and development	221		468
Other	183		518
Total	$	3,177	$	2,548

Cash, Cash Equivalents and Restricted Cash

Cash, cash equivalents and restricted cash consisted of the following:


(in thousands)	December 31, 2025		December 31, 2024
Cash and cash equivalents	$	12,388	$	27,646
Restricted cash included in other long-term assets (Note 8)	1,002		1,002
Total	$	13,390	$	28,648

Other long-term assets consisted of $1.0 million of restricted cash and $0.2 million of deposits as of December 31, 2025 and 2024.

Nautilus Biotechnology, Inc. 10-K