LEASES

3 Months Ended

Dec. 31, 2024

10. LEASES

Leases

The Company leases office and research and development facility space under non-cancelable operating leases for various terms through 2030. Certain lease agreements include renewal options, rent abatement periods, and rental increases throughout the term. As of December 31, 2024, the weighted-average remaining lease term for the Company’s operating leases was 4.8 years and the weighted-average discount rate was 5.2%.

As of December 31, 2024, the Company had operating right-of-use (“ROU”) assets of $2.7 million. As of December 31, 2024, total operating lease liabilities of $3.0 million were comprised of current lease liabilities of $0.6 million and non-current lease liabilities of $2.3 million. As of September 30, 2024, the Company had operating ROU assets of $4.7 million. As of September 30, 2024, total operating lease liabilities of $5.0 million were comprised of current lease liabilities of $0.8 million and non-current lease liabilities of $4.2 million.

The Company recognized $0.2 million and $0.5 million of operating lease costs in the three months ended December 31, 2024 and 2023, respectively. Operating lease costs are included within cost of revenue, selling and marketing, research and development, and general and administrative expenses, dependent upon the nature and use of the ROU asset, in the Company’s condensed consolidated statement of operations and comprehensive income (loss).

The Company paid $0.2 million in operating cash flows for operating leases in the three months ended December 31, 2024.

Maturities of operating lease liabilities as of December 31, 2024 were as follows (amounts in thousands):


	Operating leases
2025	$	638
2026	800
2027	756
2028	470
2029	314
2030 and thereafter	611

Total lease payments	3,589
Less: amount representing interest	(633)
Present value of future lease payments	$	2,956