Quarterly report pursuant to Section 13 or 15(d)

Leases

v3.23.1
Leases
 3 Months Ended
Apr. 02, 2023
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
April 2, 2023 April 3, 2022
Operating lease cost $ 411  $ 420 
Supplemental lease information:
As of
Operating leases April 2, 2023 January 1, 2023
Weighted-average remaining lease term 7.4 years 7.7 years
Weighted-average discount rate 6.8% 6.8%
Supplemental cash flow information related to leases are as follows (in thousands):
Quarters Ended
April 2, 2023 April 3, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases $ 346  $ 336 
Maturities of Lease Liabilities
The following is a schedule of maturities of lease liabilities as of April 2, 2023 (in thousands).
Operating lease
2023 (remaining nine months) $ 1,059 
2024 1,449 
2025 1,492 
2026 1,491 
2027 1,513 
Thereafter 4,262 
Total 11,266 
Less: imputed interest (2,396)
Present value of lease liabilities $ 8,870