LEASES

3 Months Ended

Mar. 31, 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 March 31, 2023:

	Operating Lease Commitments
(in thousands)
2023 (remaining)	$	694
2024		822
2025		590
2026		132
2027		47
Thereafter		-
Total	$	2,285
Less imputed interest		(174	)
Total operating lease liabilities	$	2,111

Cash paid for operating lease liabilities for the three months ended March 31, 2023 and 2022 were $220,000 and $212,000, respectively.  There were no new operating leases during the three months ended March 31, 2023.

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

	Balance at March 31, 2023		Balance at December 31, 2022
(in thousands)
Right-of-use assets (Long-term other assets)	$	1,946	$	2,129
Lease liability-short term (Other accrued liabilities)		813		799
Lease liability-long term (Operating lease liabilities)		1,298		1,500

At March 31, 2023, the weighted average remaining lease term is 2.77 and the weighted average discount rate used is 5%.

The components of our lease expense for the three months ended March 31, 2023 and 2022 include operating lease costs of $217,000 and $220,000, respectively, and short-term lease costs of $6,000 and $20,000, respectively.

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