LEASES

6 Months Ended

Jun. 30, 2023

LEASES

LEASES

NOTE 5 – LEASES

Our leasing arrangements are primarily for facility leases we use to conduct our operations. The following table presents our future lease payments for long-term operating leases as of June 30, 2023:

	Operating Lease Commitments
(in thousands)
2023 (remaining)	$	445
2024		811
2025		590
2026		132
2027		47
Thereafter		-
Total	$	2,025
Less imputed interest		(130	)
Total operating lease liabilities	$	1,895

Cash paid for operating lease liabilities for the three and six months ended June 30, 2023 were $219,254 and $442,909, respectively. There were no new operating leases during the six months ended June 30, 2023.

The following table presents supplemental balance sheet information related to leases as of:

	Balance at June 30, 2023		Balance at December 31, 2022
(in thousands)
Right-of-use assets (Long-term other assets)	$	1,736	$	2,129
Lease liability-short term (Other accrued liabilities)		808		799
Lease liability-long term (Operating lease liabilities)		1,087		1,500

At June 30, 2023, the weighted average remaining lease term is 2.5 years and the weighted average discount rate used is 5%.

The components of our lease expense for the three and six months ended June 30, 2023 include operating lease costs of $213,000 and $430,000, respectively, and short-term lease costs of $7,000 and $13,000, respectively. This compares to the three and six months ended June 30, 2022 with operating lease costs of $213,000 and $434,000 respectively, and short-term lease costs of $6,000 and $27,000, respectively.

The Redmond, Washington headquarters facility lease runs to January 31, 2026. The lease is for approximately 20,460 square feet. The lease for a facility located in Shanghai, China runs to October 31, 2024. This lease is for approximately 19,400 square feet. The lease for our facility located near Munich, Germany runs to August 2027. This lease is for approximately 4,895 square feet.