Quarterly report pursuant to Section 13 or 15(d)

Leases

v3.22.2.2
Leases
 9 Months Ended
Oct. 02, 2022
Leases [Abstract]  
Leases Leases
The Company leases its headquarters, engineering and manufacturing space in Fremont, California under a single non-cancelable operating lease, right of use asset with an expiration date of August 31, 2030. In March 2021, the Company entered into a new agreement to lease office space in Fremont, California under a non-cancelable operating lease that expires in April 2026 with an option to extend for five years.
The components of lease costs were as follows (in thousands):
Quarters Ended Fiscal Years-to-Date Ended
October 2, 2022 October 3, 2021 October 2, 2022 October 3, 2021
Operating lease cost $ 453  $ 531  $ 1,292  $ 1,273 
Supplemental lease information:
As of
Operating leases October 2, 2022 January 2, 2022
Weighted-average remaining lease term 7.9 years 8.7 years
Weighted-average discount rate 6.8% 6.8%
Supplemental cash flow information related to leases are as follows (in thousands):
Fiscal Years-to-Date Ended
October 2, 2022 October 3, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases $ 1,022  $ 1,084 
Lease liabilities arising from obtaining ROU assets:
Operating leases $ —  $ 8,763 
Maturities of Lease Liabilities
The following is a schedule of maturities of lease liabilities as of October 2, 2022 (in thousands).
Operating lease
2022 (remaining three months) $ 343 
2023 1,406 
2024 1,449 
2025 1,492 
2026 1,491 
Thereafter 5,774 
Total 11,955 
Less: imputed interest (2,907)
Present value of lease liabilities $ 9,048