Note 5 - Leases

3 Months Ended

Mar. 31, 2022

Notes to Financial Statements

Leases Disclosure [Text Block]

5. LEASES

Lessee

The Company has operating leases primarily for administrative and sales and marketing offices, manufacturing operations and research and development facilities, employee housing units and certain equipment. These leases have remaining lease terms from less than a year to four years. Some of these leases include options to renew the lease term for up to two years or on a month-to-month basis. The Company does not have finance lease arrangements.

The following table summarizes the balances of operating lease right-of-use (“ROU”) assets and liabilities (in thousands):

		March 31,		December 31,
	Financial Statement Line Item	2022		2021
Operating lease ROU assets	Other long-term assets	$	6,470	$	6,297
Operating lease liabilities	Other accrued liabilities	$	2,530	$	2,539
	Other long-term liabilities	$	3,242	$	3,268

The following tables summarize certain information related to the leases (in thousands, except percentages):

	Three Months Ended March 31,
	2022		2021
Lease costs:
Operating lease costs	$	729	$	499
Other		367		121
Total lease costs	$	1,096	$	620

	Three Months Ended March 31,
	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	932	$	312
ROU assets obtained in exchange for new operating lease liabilities	$	1,010	$	2,940

	March 31,			December 31,
	2022			2021
Weighted-average remaining lease term (in years)		2.6			2.8
Weighted-average discount rate		2.0	%		2.0	%

As of March 31, 2022, the maturities of the lease liabilities were as follows (in thousands):

2022 (remaining nine months)	$	1,980
2023		2,191
2024		1,087
2025		655
2026		8
Total remaining lease payments		5,921
Less: imputed interest		(149	)
Total lease liabilities	$	5,772

As of March 31, 2022, the Company had no operating leases that had not yet commenced.

Lessor 

The Company owns certain office buildings and leases a portion of these properties to third parties under arrangements that are classified as operating leases. These leases have remaining lease terms ranging from less than one year to four years. Some of these leases include options to renew the lease term for up to five years.

For the three months ended March 31, 2022 and 2021, income related to lease payments was $0.6 million and $0.3 million, respectively. As of  March 31, 2022, future income related to lease payments was as follows (in thousands):

2022 (remaining nine months)	$	1,668
2023		1,582
2024		616
2025		108
2026		20
Total	$	3,994