Related Party Transactions

3 Months Ended

Mar. 31, 2022

Certain holders of the pre-combination Velodyne's convertible preferred stock (which converted into common stock of the Company upon the Business Combination) purchased products and services, directly or through a third party, from the Company. Revenue and accounts receivable for these holders were as follows (in thousands):


	Three Months Ended March 31,
	2022		2021
Revenue:
Stockholder A	$	295	$	39


	March 31,		December 31,
	2022		2021
Accounts receivable:
Stockholder A	$	535	$	219

In April 2019, the Company entered into a manufacturing agreement with one of its Series B Preferred Stockholders (“Stockholder D”), and the Company has one product that is currently being manufactured by Stockholder D. As of March 31, 2022 and December 31, 2021, the Company had $1.4 million and $0.2 million, respectively, of payable and accrued purchases, and $15.7 million and $15.7 million, respectively, of outstanding purchase commitments for products with this stockholder. The Company procures equipment, materials and components for Stockholder D to build the product. The Company also loaned to Stockholder D manufacturing equipment with a net book value of $0.4 million and $0.5 million, respectively, as of March 31, 2022 and December 31, 2021, which was included in the Company’s balance sheet within property, plant and equipment, net.

The Company rents its corporate headquarters facility in San Jose, California from a company owned by one of its former officers. The lease was executed in January 2017 and expires in December 2027, as amended. In May 2021, the building was sold to a third-party but the lease terms remain unchanged. Lease cost under this lease was $0.8 million for the three months ended March 31, 2021.