v3.25.2
Note 9 - Leases
6 Months Ended
Jun. 29, 2025
Notes to Financial Statements  
Lessee, Operating and Finance Leases [Text Block]

Note 9 — Leases

 

The Company's principal research and development and corporate facilities are leased office buildings located in the United States. These lease facilities are classified as operating leases and have lease terms of one to three years. The Company maintains sales offices out of which it conducts sales and marketing activities in various countries outside of the United States which are rented under short-term leases. The Company has elected the practical expedient to apply to recognition requirements to short-term leases and recognizes rent payments on short-term leases on a straight-line basis over the lease term.

 

The following table provides the expenses from continuing operations related to operating leases (in thousands):

  

Three Months Ended

  

Six Months Ended

 
  

June 29, 2025

  

June 30, 2024

  

June 29, 2025

  

June 30, 2024

 

Operating lease costs from continuing operations:

                

Fixed

 $87  $97  $174  $184 

Short term

  4   5   9   9 

Total

 $91  $102  $183  $193 

 

The following table provides the details of supplemental cash flow information (in thousands):

  

Six Months Ended

 
  June 29, 2025  June 30, 2024 

Cash paid for amounts included in the measurement of lease liabilities:

        

Operating cash flows from continuing operations used for operating leases

 $152  $197 

 

Non-cash ROU assets related to operating leases included in the operating cash flows for continuing operations for the six months ended June 29, 2025 and June 30, 2024 were $144 thousand and $131 thousand, respectively.

 

The following table provides the details of right-of-use assets and lease liabilities as of June 29, 2025 and December 29, 2024 (in thousands):

  June 29, 2025  December 29, 2024 

Right-of-use assets:

        

Operating leases

 $614  $758 

Lease liabilities:

        

Operating leases

 $610  $731 

 

The following table provides the details of future lease payments for operating leases as of June 29, 2025 (in thousands):

  

Operating Leases

 

2025 (remaining period)

 $187 

2026

  349 

2027

  128 

Total lease payments

  664 

Less: Interest

  (54)

Present value of lease liabilities

 $610 

 

The following table provides the details of lease terms and discount rates as of June 29, 2025 and December 29, 2024:

  

June 29, 2025

  

December 29, 2024

 

Right-of-use assets:

        

Weighted-average remaining lease term (years)

        

Operating leases(1)

  1.92   2.42 

Weighted-average discount rates:

        

Operating leases

  6.00%  9.00%

 

(1) The operating lease relates to the Company's headquarters in San Jose, CA. The lease term expires on June 14, 2027.