Lease Agreement |
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| Lease Agreement |
7. Lease Agreements The Company leases one facility in Emeryville, California under an operating lease that expires in February 2023. The Emeryville lease contains an option to extend the lease for an additional term, however, the Company is not reasonably certain to exercise this option. The following table summarizes maturity of the Company’s operating lease liabilities as of June 30, 2022 (in thousands):
The following table summarizes the cost components of the Company’s operating leases for the three and six months ended June 30, 2022 and 2021 (in thousands):
(1)Under the terms of the lease agreement, the Company is also responsible for certain variable lease payments that are not included in the measurement of the lease liability. Variable lease payments include non-lease components such as common area maintenance fees.
The following information represents supplemental disclosure for the statement of cash flows related to operating leases (in thousands):
The present value assumptions used in calculating the present value of the lease payments as of June 30, 2022 and December 31, 2021 were as follows:
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