Leases

3 Months Ended

Mar. 31, 2022

Leases [Abstract]

Leases

Leases

The Company leases real estate, equipment and automobiles in the U.S. and internationally. The Company leases office facilities under non-cancelable operating leases that expire on various dates through December 2027, including office and manufacturing space in San Jose, California used as its corporate headquarters. The leases do not contain any material residual value guarantees or restrictive covenants.

Lease cost, which consisted primarily of operating lease cost, was $0.9 million and $1.1 million for the three months ended March 31, 2022 and 2021, respectively.

Other information related to leases were as follows (in thousands, except years and percentages):

	Three Months Ended March 31,
	2022			2021
Supplemental cash flow information:
Cash paid for operating leases included in operating cash flows	$	883		$	1,119
ROU assets obtained in exchange for new operating lease liabilities	$	55		$	340
	March 31, 2022			December 31, 2021
Supplemental balance sheet information:
Other assets	$	16,274		$	16,891
Total operating ROU assets	$	16,274		$	16,891
Other current liabilities	$	2,601		$	2,623
Other long-term liabilities	14,624			15,210
Total lease liabilities	$	17,225		$	17,833
Weighted average remaining lease term (years)	5.67			5.91
Weighted average discount rate	6.38		%	6.37		%

As of March 31, 2022, maturities of lease liabilities were as follows, which excludes $1.1 million of legally binding minimum lease payments for leases that have been signed but not yet commenced:

Years Ending December 31,	Operating Leases
2022 (remaining nine months)	$	2,666
2023	3,417
2024	3,479
2025	3,565
2026	3,670
Thereafter	3,779
Total lease payments	$	20,576
Less amount representing interest	(3,351)
Present value of lease liabilities	$	17,225

Leases

Leases

The Company leases real estate, equipment and automobiles in the U.S. and internationally. The Company leases office facilities under non-cancelable operating leases that expire on various dates through December 2027, including office and manufacturing space in San Jose, California used as its corporate headquarters. The leases do not contain any material residual value guarantees or restrictive covenants.

Lease cost, which consisted primarily of operating lease cost, was $0.9 million and $1.1 million for the three months ended March 31, 2022 and 2021, respectively.

Other information related to leases were as follows (in thousands, except years and percentages):

	Three Months Ended March 31,
	2022			2021
Supplemental cash flow information:
Cash paid for operating leases included in operating cash flows	$	883		$	1,119
ROU assets obtained in exchange for new operating lease liabilities	$	55		$	340
	March 31, 2022			December 31, 2021
Supplemental balance sheet information:
Other assets	$	16,274		$	16,891
Total operating ROU assets	$	16,274		$	16,891
Other current liabilities	$	2,601		$	2,623
Other long-term liabilities	14,624			15,210
Total lease liabilities	$	17,225		$	17,833
Weighted average remaining lease term (years)	5.67			5.91
Weighted average discount rate	6.38		%	6.37		%

As of March 31, 2022, maturities of lease liabilities were as follows, which excludes $1.1 million of legally binding minimum lease payments for leases that have been signed but not yet commenced:

Years Ending December 31,	Operating Leases
2022 (remaining nine months)	$	2,666
2023	3,417
2024	3,479
2025	3,565
2026	3,670
Thereafter	3,779
Total lease payments	$	20,576
Less amount representing interest	(3,351)
Present value of lease liabilities	$	17,225