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Lessee Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Leases | 10. Leases Operating Leases As of June 30, 2022, the Company leases office space in Davis, CA, and Chatsworth, CA, as well as additional buildings, land and equipment. Leases with an initial term of 12 months or less are not recorded on the balance sheet; the Company recognizes lease expense for these short-term leases on a straight-line basis. The Company subleases a portion of the Davis office lease to a third party. In May 2022, the Company terminated its lease for office space in Chesterfield, MO effective August 1, 2022. The original lease term was scheduled to expire in May 2024. As a result, the Company paid $47,000 in early termination fees during the three months ended June 30, 2022. During the six months ended June 30, 2022, the Company did not enter new leases. On July 1, 2022, the Company entered into an agreement to lease office space in Dallas, TX. As of June 30, 2022, this lease had not yet commenced. Some leases (the Davis office, a warehouse, and a copy machine) include one or more options to renew, with renewal terms that can extend the lease term from to six years. The exercise of lease renewal options is at the Company’s sole discretion. The Company’s lease agreements do not contain any material variable lease payments, material residual value guarantees or material restrictive covenants. Leases consisted of the following (in thousands):
(1) Short term lease cost consists of field trial lease agreements with a lease term of 12 months or less. (2) Sublease income is recorded as a reduction to lease expense.
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