Lease Obligations |
9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lease Obligations |
The Company renewed its operating lease agreement in May 2017 for its headquarters and manufacturing facility in Richmond, California. Following renewal, the lease term will expire in May 2022. In July 2017, the Company entered into an operating lease agreement having a five-year lease term for an office in Hamburg, Germany. The Company has an option to extend the lease for another five-year term. The Company continues to lease an office in Freiburg with plans to sublease the office by the end of 2017. In August 2015, the Company entered into a long-term capital lease obligation for equipment. The aggregate principal of the lease is $166, with an interest rate of 4.7%, minimum monthly payments of $3 and a July 1, 2020 maturity. This capital lease is classified as a component of other liabilities, current and other non-current liabilities in the condensed consolidated balance sheets.
The Company estimates future minimum payments as of September 30, 2017 to be the following:
Rent expense under the Company’s operating leases was $138 and $101 for the three months ended September 30, 2017, and 2016, respectively, and $347 and $299 for the nine months ended September 30, 2017, and 2016, respectively. |
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