v3.26.1
Leases
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Leases Leases
Facility Lease
In December 2021, the Company entered into a lease for two existing buildings, comprising approximately 158,221 square feet of space, located in San Jose, California. The lease commenced in July 2022, and will continue for 122 months thereafter, with two five year options to extend the term of the lease.
Rent expense recognized under the lease, including additional rent charges for utilities, parking, maintenance, and real estate taxes, was $1.0 million and $1.5 million for the three months ended June 30, 2026 and 2025, and $2.4 million and $3.1 million for the six months ended June 30, 2026 and 2025.
Future minimum annual operating lease payments are as follows (in thousands):
As of June 30, 2026
Amount
2026$2,214 
20274,808 
20284,952 
20295,101 
20305,254 
Thereafter11,943 
Total minimum payments34,272 
Less: amount representing interest(8,487)
Present value of future payments25,785 
Less: current portion(2,505)
Non-current portion$23,280 
As of June 30, 2026 and December 31, 2025, the Company’s security deposit is in the form of, and recorded as, restricted cash.
Lessor Information for Robotic Systems
Contractual maturities of gross lease receivables as of June 30, 2026 are as follows (in thousands):
Fiscal Year
Amount
2026$750 
20271,409 
20281,430 
20291,293 
2030 and thereafter1,019 
Total
$5,901 
June 30,December 31,
20262025
Gross receivables
$5,901 $5,829 
Unearned interest income
(847)(1,028)
Net investment in sales-type leases
$5,054 $4,801 
The components of income from sales-type leases are as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Sales-type lease revenue
$504 $1,213 $504 $1,213 
Interest income
$82 $38 $166 $76 
Leases receivable relating to sales-type lease arrangements are presented on the Company’s consolidated balance sheets as follows (in thousands):
June 30,December 31,
20262025
Reported as:
Accounts receivable
$1,144 $905 
Other assets
3,910 3,896 
Net investment in sales-type leases
$5,054 $4,801 
Leases Leases
Facility Lease
In December 2021, the Company entered into a lease for two existing buildings, comprising approximately 158,221 square feet of space, located in San Jose, California. The lease commenced in July 2022, and will continue for 122 months thereafter, with two five year options to extend the term of the lease.
Rent expense recognized under the lease, including additional rent charges for utilities, parking, maintenance, and real estate taxes, was $1.0 million and $1.5 million for the three months ended June 30, 2026 and 2025, and $2.4 million and $3.1 million for the six months ended June 30, 2026 and 2025.
Future minimum annual operating lease payments are as follows (in thousands):
As of June 30, 2026
Amount
2026$2,214 
20274,808 
20284,952 
20295,101 
20305,254 
Thereafter11,943 
Total minimum payments34,272 
Less: amount representing interest(8,487)
Present value of future payments25,785 
Less: current portion(2,505)
Non-current portion$23,280 
As of June 30, 2026 and December 31, 2025, the Company’s security deposit is in the form of, and recorded as, restricted cash.
Lessor Information for Robotic Systems
Contractual maturities of gross lease receivables as of June 30, 2026 are as follows (in thousands):
Fiscal Year
Amount
2026$750 
20271,409 
20281,430 
20291,293 
2030 and thereafter1,019 
Total
$5,901 
June 30,December 31,
20262025
Gross receivables
$5,901 $5,829 
Unearned interest income
(847)(1,028)
Net investment in sales-type leases
$5,054 $4,801 
The components of income from sales-type leases are as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Sales-type lease revenue
$504 $1,213 $504 $1,213 
Interest income
$82 $38 $166 $76 
Leases receivable relating to sales-type lease arrangements are presented on the Company’s consolidated balance sheets as follows (in thousands):
June 30,December 31,
20262025
Reported as:
Accounts receivable
$1,144 $905 
Other assets
3,910 3,896 
Net investment in sales-type leases
$5,054 $4,801