The Company’s right-of-use (“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):
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|
|
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|
|
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September 30, |
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|
December 31, |
|
|
|
2026 |
|
|
2025 |
|
Operating Lease |
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|
|
|
|
|
Operating lease right-of-use asset |
|
$ |
1,516 |
|
|
$ |
2,296 |
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|
|
|
|
|
|
|
Operating lease liability, current |
|
|
1,218 |
|
|
|
1,105 |
|
Operating lease liability, long-term |
|
|
432 |
|
|
|
1,360 |
|
Total operating lease liabilities |
|
$ |
1,650 |
|
|
$ |
2,465 |
|
Weighted average remaining lease term (years) |
|
|
1.3 |
|
|
|
2.1 |
|
Weighted average 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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|
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Three months ended September 30, |
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|
Nine months ended September 30, |
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|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Operating lease expense |
|
$ |
305 |
|
|
$ |
282 |
|
|
$ |
916 |
|
|
$ |
844 |
|
Variable lease expense |
|
|
103 |
|
|
|
73 |
|
|
|
303 |
|
|
|
242 |
|
Total lease expense |
|
$ |
408 |
|
|
$ |
355 |
|
|
$ |
1,219 |
|
|
$ |
1,086 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total cash payments for amounts included in the measurement of lease liabilities |
|
$ |
313 |
|
|
$ |
303 |
|
|
$ |
936 |
|
|
$ |
907 |
|
The Company leases office space and warehouse space under non-cancelable operating leases. As of September 30, 2026, the future minimum lease payments under the non-cancelable operating lease are as follows (in thousands):
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|
|
|
|
|
|
September 30, |
|
Operating Leases: |
|
2026 |
|
Remainder of 2026 |
|
$ |
319 |
|
2027 |
|
|
1,306 |
|
2028 |
|
|
109 |
|
Total undiscounted lease payments |
|
|
1,734 |
|
Imputed interest |
|
|
(84 |
) |
Net Lease Liabilities |
|
$ |
1,650 |
|
|