The Company’s ROU asset relates to its leased corporate offices and warehouse in Sunnyvale, CA. Supplemental balance sheet information related to leases was as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
March 31, |
|
|
December 31, |
|
|
|
2026 |
|
|
2025 |
|
Operating Lease |
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|
|
|
|
|
Operating lease right-of-use asset |
|
$ |
2,041 |
|
|
$ |
2,296 |
|
|
|
|
|
|
|
|
Operating lease liability, current |
|
|
1,141 |
|
|
|
1,105 |
|
Operating lease liability, long-term |
|
|
1,058 |
|
|
|
1,360 |
|
Total operating lease liabilities |
|
$ |
2,199 |
|
|
$ |
2,465 |
|
Weighted average remaining lease term (years) |
|
|
1.8 |
|
|
|
2.1 |
|
Weighted average remaining discount rate |
|
|
8.00 |
% |
|
|
8.00 |
% |
A summary of total lease expense and other information for the periods relating to the Company’s operating leases was as follows (in thousands):
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|
|
|
|
|
|
|
|
|
Three months ended March 31, |
|
|
|
2026 |
|
|
2025 |
|
Operating lease expense |
|
$ |
306 |
|
|
$ |
281 |
|
Variable lease expense |
|
|
101 |
|
|
|
98 |
|
Total lease expense |
|
$ |
407 |
|
|
$ |
379 |
|
|
|
|
|
|
|
|
Total cash payments for amounts included in the measurement of lease liabilities |
|
$ |
311 |
|
|
$ |
302 |
|
The Company leases office space and warehouse space under non-cancelable operating leases. As of March 31, 2026, the future minimum lease payments under the non-cancelable operating lease are as follows (in thousands):
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|
|
|
|
|
|
March 31, |
|
Operating Leases: |
|
2026 |
|
Remainder of 2026 |
|
$ |
943 |
|
2027 |
|
|
1,306 |
|
2028 |
|
|
109 |
|
Total undiscounted lease payments |
|
|
2,358 |
|
Imputed interest |
|
|
(159 |
) |
Net Lease Liabilities |
|
$ |
2,199 |
|
|