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Note 8 - Leases

3 Months Ended

Mar. 31, 2024

Lessee, Operating and Finance Leases [Text Block]

Note 8 — Leases

The Company's principal research and development and corporate facilities are leased office buildings located in the United States. These lease facilities are classified as operating leases and have lease terms of one to five years. The Company maintains sales offices out of which it conducts sales and marketing activities in various countries outside of the United States which are rented under short-term leases. The Company has elected the practical expedient to apply to recognition requirements to short-term leases and recognizes rent payments on short-term leases on a straight-line basis over the lease term. Total rent expenses were $0.1 million for the three months ended March 31, 2024 and April 2, 2023.

Right-of-use assets were approximately $0.9 million and $1.0 million as of March 31, 2024 and December 31, 2023, respectively. Lease liabilities were approximately $0.9 million and $1.0 million as of March 31, 2024 and December 31, 2023, respectively.

The following table provides the expenses related to operating and finance leases (in thousands):

	*Three Months Ended*
	*March 31, 2024*		*April 2, 2023*
Operating lease costs:
Fixed	$	91	$	100
Short term		4		4
Total	$	95	$	104

The following table provides the details of supplemental cash flow information (in thousands):

	*Three Months Ended*
	*March 31, 2024*		*April 2, 2023*
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases	$	106	$	103

Non-cash ROU assets related to operating leases included in the operating cash flows for the three months ended March 31, 2024 and April 2, 2023 were $65 thousand and $90 thousand, respectively.

The following table provides the details of right-of-use assets and lease liabilities as of March 31, 2024 and December 31, 2023 (in thousands):

	*March 31, 2024*		*December 31, 2023*
Right-of-use assets:
Operating leases	$	916	$	981
Lease liabilities:
Operating leases	$	899	$	983

The following table provided the details of future lease payments for operating leases as of March 31, 2024 (in thousands):

	Operating Leases
2024 (remaining period)	$	272
2025		340
2026		351
2027		64
Total lease payments		1,027
Less: Interest		(128	)
Present value of lease liabilities	$	899

The following table provides the details of lease terms and discount rates as of March 31, 2024 and December 31, 2023:

	*March 31, 2024*			*December 31, 2023*
Right-of-use assets:
Weighted-average remaining lease term (years)
Operating leases⁽¹⁾		3.00			3.25
Weighted-average discount rates:
Operating leases		6.00	%		6.00	%

⁽¹⁾ The operating lease relates to the Company's headquarters in San Jose, CA. The lease term expires on April 14, 2027.