Note 5 - Leases

9 Months Ended

Sep. 30, 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 one 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):

		September 30,		December 31,
	Financial Statement Line Item	2022		2021
Operating lease ROU assets	Other long-term assets	$	4,617	$	6,297
Operating lease liabilities	Other accrued liabilities	$	2,263	$	2,539
	Other long-term liabilities	$	1,877	$	3,268

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Lease costs:
Operating lease costs	$	656	$	623	$	2,061	$	1,694
Other		454		140		1,259		387
Total lease costs	$	1,110	$	763	$	3,320	$	2,081

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	649	$	612	$	2,115	$	1,622
ROU assets obtained in exchange for new operating lease liabilities	$	13	$	793	$	1,071	$	4,477

	September 30,			December 31,
	2022			2021
Weighted-average remaining lease term (in years)		2.3			2.8
Weighted-average discount rate		2.0	%		2.0	%

As of September 30, 2022, the maturities of the lease liabilities were as follows (in thousands):

2022 (remaining three months)	$	674
2023		1,999
2024		967
2025		590
2026		7
Total remaining lease payments		4,237
Less: imputed interest		(97	)
Total lease liabilities	$	4,140

As of September 30, 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 September 30, 2022 and 2021, income related to lease payments was $0.6 million and $0.7 million, respectively. For both the nine months ended September 30, 2022 and 2021, income related to lease payments was $1.7 million. As of September 30, 2022, future income related to lease payments was as follows (in thousands):

2022 (remaining three months)	$	554
2023		1,557
2024		607
2025		102
2026		18
Total	$	2,838