Leasing Operations |
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Leasing Operations | |||||||||||||||||||||||||||||||||
Leasing Operations | Note 10. Leasing Operations The Company commenced a new 5 year lease on March 1, 2020 for office space in Santa Clara, CA. As a result the Company recorded a and lease liability of $6.8 million as of March 1, 2020.The Company rents its systems to certain qualified customers under arrangements that qualify as either sales-type lease or operating lease arrangements. Leases have terms that generally range from two to five years. Operating Leases Minimum future lease receipts on noncancelable leases as of September 30, 2020 are as follows:
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