Leases
We have operating leases relating to office facilities, manufacturing facilities and ground stations. Lease terms range from 3 years to 5 years.
Certain of the Company’s leases include options for early termination. The Company utilizes the base period as the lease term when initially recognizing right-of-use assets and lease liabilities, unless it is reasonably certain that a termination option will be exercised.
We recognized the following lease costs related to our operating leases for the years ended December 31, 2025 and 2024:
| | | | | | | | | | | | | |
| Year Ended December 31, |
| 2025 | | 2024 | | |
| Operating lease costs | $ | 1,926 | | | $ | 2,004 | | | |
| Short-term lease costs | 109 | | | 112 | | | |
| Variable lease costs | 99 | | | 145 | | | |
| | | | | |
| Total operating lease costs | $ | 2,134 | | | $ | 2,261 | | | |
Cash paid for amounts included in the measurement of operating lease liabilities were as follows for the years ended December 31, 2025 and 2024.
| | | | | | | | | | | | | |
| Year Ended December 31, |
| 2025 | | 2024 | | |
| Operating cash flows - operating lease payments | $ | (1,863) | | | $ | (2,702) | | | |
| | | | | |
| | | | | |
The amounts of future undiscounted cash flows related to the lease payments over the lease term and the reconciliation to the present value of the operating lease liabilities at December 31, 2025 is as follows:
| | | | | |
| Operating leases |
| Years Ended | |
| 2026 | $ | 2,087 | |
| 2027 | 1,950 | |
| 2028 | 1,912 | |
| 2029 | 1,969 | |
| 2030 | 1,783 | |
| thereafter | 139 | |
| Total remaining lease payments | 9,840 | |
| Less imputed interest | (2,567) | |
| Present value of lease liability | $ | 7,273 | |
| |
| Total current | $ | 1,174 | |
| Total non-current | $ | 6,099 | |
The weighted-average remaining years for the operating leases are 4.1 years and 4.6 years as of December 31, 2025 and 2024, respectively. The weighted-average discount rate for operating leases is 9.2% and 3.6% as of December 31, 2025 and 2024, respectively. For the years ended December 31, 2025 and 2024, the Company obtained $8.0 million and $0.2 million, respectively of right-of-use assets for new operating lease obligations.
On November 29, 2024, the Company entered into a settlement agreement for its Netherlands Lease. The Company paid $0.3 million in termination fees in connection with the settlement agreement. As a result of the termination of the Netherlands Lease, the related right-of-use asset was written off and the lease liability was derecognized. In total, the Company recognized a gain on the termination of the Netherlands Lease of $0.4 million during the year ended December 31, 2024. The loss is included in engineering expenses on our Consolidated Statement of Operations and Comprehensive Loss.
The Company had an operating lease ROU asset of approximately $0.7 million related to the Netherlands Lease recorded in its Consolidated Balance Sheets as of December 31, 2024. The Company had current and non-current operating lease liabilities of approximately $0.5 million and $0.6 million, respectively, related to the Netherlands Lease recorded in its Consolidated Balance Sheets as of December 31, 2024.