The Company entered into a sublease agreement and lease extension agreement for office space in Beaverton, Oregon in February 2022 to move the Company’s corporate headquarters. The term of the sublease and lease extension runs through September 2030. The remaining rent payments as of December 31, 2023 were $8,756 plus operating expenses, payable in monthly installments. The first 26 months of rent payments and operating expenses are abated to cover the remaining lease term on the Company’s former corporate headquarters.

The Company continues to lease its former corporate headquarters in Beaverton, Oregon. The lease expires in March 2024. The remaining rent payments as of December 31, 2023 were $218 plus operating expenses, payable in monthly installments. The Company stopped using this office space as its corporate headquarters in March 2022 and attempted to sublease the space.

The Company leased office space in London, England under a lease entered into by EVRYTHNG in July 2019. The term of the lease ended in July 2023, with no remaining rent payments as of December 31, 2023.

All of the Company’s leases are operating leases. The following table provides additional details of leases presented in the Consolidated Balance Sheets:

The current lease liabilities are included in “accounts payable and other accrued liabilities” in the Consolidated Balance Sheets.

The carrying value of the lease right of use assets is evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. The Company recorded an “impairment of lease right of use assets and leasehold improvements” of $250 and $915 in the Consolidated Statements of Operations for the years ended December 31, 2023 and 2022, respectively. The impairments were triggered when the Company vacated its former corporate offices in the United States and the United Kingdom. The impairment charges were determined by comparing the carrying value of the assets to the net present value of estimated cash flows from the future sublease of the office spaces over their remaining lease terms.

Operating lease expense is included in “operating expenses” in the Consolidated Statements of Operations and in “cash flows from operating activities” in the Consolidated Statements of Cash Flows. The operating leases include variable lease payments, which are included in operating lease expense. Additional details of the Company’s operating leases are presented in the following table:

The table below reconciles the cash payment obligations for the next five years and total of the remaining years for the operating lease liability recorded in the Consolidated Balance Sheet as of December 31, 2023: