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):
|
|
|
|
|
|
|
|
|
|
|
June 30, |
|
|
December 31, |
|
|
|
2026 |
|
|
2025 |
|
Operating Lease |
|
|
|
|
|
|
Operating lease right-of-use asset |
|
$ |
1,781 |
|
|
$ |
2,296 |
|
|
|
|
|
|
|
|
Operating lease liability, current |
|
|
1,180 |
|
|
|
1,105 |
|
Operating lease liability, long-term |
|
|
748 |
|
|
|
1,360 |
|
Total operating lease liabilities |
|
$ |
1,928 |
|
|
$ |
2,465 |
|
Weighted average remaining lease term (years) |
|
|
1.6 |
|
|
|
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 June 30, |
|
|
Six months ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Operating lease expense |
|
$ |
305 |
|
|
$ |
281 |
|
|
$ |
611 |
|
|
$ |
562 |
|
Variable lease expense |
|
|
99 |
|
|
|
71 |
|
|
|
200 |
|
|
|
169 |
|
Total lease expense |
|
$ |
404 |
|
|
$ |
352 |
|
|
$ |
811 |
|
|
$ |
731 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total cash payments for amounts included in the measurement of lease liabilities |
|
$ |
312 |
|
|
$ |
302 |
|
|
$ |
623 |
|
|
$ |
604 |
|
The Company leases office space and warehouse space under non-cancelable operating leases. As of June 30, 2026, the future minimum lease payments under the non-cancelable operating lease are as follows (in thousands):
|
|
|
|
|
|
|
June 30, |
|
Operating Leases: |
|
2026 |
|
Remainder of 2026 |
|
$ |
632 |
|
2027 |
|
|
1,306 |
|
2028 |
|
|
109 |
|
Total undiscounted lease payments |
|
|
2,047 |
|
Imputed interest |
|
|
(119 |
) |
Net Lease Liabilities |
|
$ |
1,928 |
|
|