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Leases | 3 Months Ended
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Mar. 31, 2026
Leases [Abstract] |
Leases | Leases Facility Lease In December 2021, the Company entered into a lease for two existing buildings, comprising approximately 158,221 square feet of space, located in San Jose, California. The lease commenced in July 2022, and will continue for 122 months following thereafter, with two five year options to extend the term of the lease. Rent expense recognized under the lease, including additional rent charges for utilities, parking, maintenance, and real estate taxes, was $1.4 million and $1.6 million for the three months ended March 31, 2026 and 2025. Future minimum annual operating lease payments are as follows (in thousands):
As of March 31, 2026 | Amount
2026 | $ | 3,319 |
2027 | 4,808 |
2028 | 4,952 |
2029 | 5,101 |
2030 | 5,254 |
Thereafter | 11,943 |
Total minimum payments | 35,377 |
Less: amount representing interest/unamortized debt discount | (9,045) |
Present value of future payments | 26,332 |
Less: current portion | (2,358) |
Non-current portion | $ | 23,974 |
As of March 31, 2026 and December 31, 2025, the Company’s security deposit is in the form of, and recorded as, restricted cash. Lessor Information for Robotic Systems Contractual maturities of gross lease receivables as of March 31, 2026 are as follows (in thousands):
Fiscal Year |  | Amount
2026 |  | $ | 1,048 |
2027 |  | 1,274 |
2028 |  | 1,274 |
2029 |  | 1,137 |
2030 and thereafter |  | 747 |
Total |  | $ | 5,480 |
|  |  | March 31, |  | December 31,
|  |  | 2026 |  | 2025
Gross receivables |  |  | $ | 5,480 |  |  | $ | 5,829 |
Unearned interest income |  |  | (701) |  |  | (1,028) |
Net investment in sales-type leases |  |  | $ | 4,779 |  |  | $ | 4,801 |
The components of income from sales-type leases are as follows:
| Three Months Ended March 31,
| 2026 |  |  | 2025
Sales-type lease revenue | $ | — |  |  |  | $ | — |
Interest income | $ | 84 |  |  |  | $ | 38 |
Leases receivable relating to sales-type lease arrangements are presented on the Company’s consolidated balance sheets as follows (in thousands):
|  |  | March 31, |  | December 31,
|  |  | 2026 |  | 2025
Reported as: |  |  |  |  |
Accounts receivable |  |  | $ | 1,013 |  |  | $ | 905 |
Other assets |  |  | 3,766 |  |  | 3,896 |
Net investment in sales-type leases |  |  | $ | 4,779 |  |  | $ | 4,801 |
Leases | Leases Facility Lease In December 2021, the Company entered into a lease for two existing buildings, comprising approximately 158,221 square feet of space, located in San Jose, California. The lease commenced in July 2022, and will continue for 122 months following thereafter, with two five year options to extend the term of the lease. Rent expense recognized under the lease, including additional rent charges for utilities, parking, maintenance, and real estate taxes, was $1.4 million and $1.6 million for the three months ended March 31, 2026 and 2025. Future minimum annual operating lease payments are as follows (in thousands):
As of March 31, 2026 | Amount
2026 | $ | 3,319 |
2027 | 4,808 |
2028 | 4,952 |
2029 | 5,101 |
2030 | 5,254 |
Thereafter | 11,943 |
Total minimum payments | 35,377 |
Less: amount representing interest/unamortized debt discount | (9,045) |
Present value of future payments | 26,332 |
Less: current portion | (2,358) |
Non-current portion | $ | 23,974 |
As of March 31, 2026 and December 31, 2025, the Company’s security deposit is in the form of, and recorded as, restricted cash. Lessor Information for Robotic Systems Contractual maturities of gross lease receivables as of March 31, 2026 are as follows (in thousands):
Fiscal Year |  | Amount
2026 |  | $ | 1,048 |
2027 |  | 1,274 |
2028 |  | 1,274 |
2029 |  | 1,137 |
2030 and thereafter |  | 747 |
Total |  | $ | 5,480 |
|  |  | March 31, |  | December 31,
|  |  | 2026 |  | 2025
Gross receivables |  |  | $ | 5,480 |  |  | $ | 5,829 |
Unearned interest income |  |  | (701) |  |  | (1,028) |
Net investment in sales-type leases |  |  | $ | 4,779 |  |  | $ | 4,801 |
The components of income from sales-type leases are as follows:
| Three Months Ended March 31,
| 2026 |  |  | 2025
Sales-type lease revenue | $ | — |  |  |  | $ | — |
Interest income | $ | 84 |  |  |  | $ | 38 |
Leases receivable relating to sales-type lease arrangements are presented on the Company’s consolidated balance sheets as follows (in thousands):
|  |  | March 31, |  | December 31,
|  |  | 2026 |  | 2025
Reported as: |  |  |  |  |
Accounts receivable |  |  | $ | 1,013 |  |  | $ | 905 |
Other assets |  |  | 3,766 |  |  | 3,896 |
Net investment in sales-type leases |  |  | $ | 4,779 |  |  | $ | 4,801 |

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