Note 5 – Leases

The Company leases office space in Goleta, California (two locations) and Tokyo, Japan under operating lease agreements. Lease terms range from 24 to 72 months, with certain leases containing options to extend. In addition to fixed lease payments, the Company incurs variable charges for its proportionate share of common area maintenance and building operating expenses under its domestic leases, which are recognized as incurred. One lease is denominated in Japanese yen; the related lease liability is remeasured at the current exchange rate at each reporting date with resulting gains or losses recognized in the unaudited condensed consolidated statements of operations and comprehensive loss.

The components of lease costs were as follows (in thousands):

 

The table below summarizes supplemental balance sheet information (in thousands):

 

As of September 30, 2026, the future minimum lease payments under non-cancelable operating leases are as follows (in thousands):

 

 

The table below summarizes other information related to the Company’s leases (dollars in thousands):