Ekso Bionics Holdings, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Lease Obligations

Lease Obligations

6 Months Ended

Jun. 30, 2021

The Company maintains a five-year operating lease agreement for its headquarters and manufacturing facility in Richmond, California, or the Richmond Lease, which expires in May 2022, with no further options to extend or terminate. The lease includes non-lease components (i.e. common area maintenance costs) that are paid separately from rent based on actual costs incurred. In June 2020, the Company entered into an amendment to the Richmond Lease to make a one-time payment of $300 to cover its remaining lease obligations for the remainder of 2020, resulting in a $48 abatement and a lease payment deferral of $79 to be paid in equal monthly installments in 2021.

The Company's five-year operating lease agreement for its sales office in Hamburg, Germany expires in July 2022. The Company has an option to extend the lease for another five-year term.

The Company’s future lease payments as of June 30, 2021 are as follows, which are presented as lease liabilities on the Company’s condensed consolidated balance sheets:


Period	Operating Leases
Remainder of 2021	$	301
2022	235
Total lease payments	536
Less: imputed interest	(22)
Present value of lease liabilities	$	514

Weighted-average remaining lease term (in years)	0.94
Weighted-average discount rate	10.5		%

Lease expense under the Company’s operating leases was $132 and $135 for the three months ended June 30, 2021 and 2020, respectively, and $265 and $273 for the six months ended June 30, 2021 and 2020, respectively.

Practical Expedients

Leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company recognizes the lease expense for such leases on a straight-line basis over the lease term.