Desktop Metal, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

LEASES (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of other lease related balances

Information about other lease-related balances is as follows (in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Lease cost
Operating lease cost	$	7,695		$	1,570		$	10,025		$	3,071
Short‑term lease cost		—			39			86			94
Variable lease cost		—			36			21			70
Finance lease cost		26			23			53			46
Total lease cost	$	7,721		$	1,668		$	10,185		$	3,281
Other Information
Operating cash flows used in operating leases	$	2,365		$	1,741		$	4,737		$	3,471
Operating cash flows used in finance leases		23			21			47			42
Weighted‑average remaining lease term—operating leases (years)		3.9			5.1			3.9			5.1
Weighted‑average remaining lease term—finance leases (years)		5.8			6.8			5.8			6.8
Weighted‑average discount rate—operating leases		6.2	%		5.0	%		6.2	%		5.0	%
Weighted‑average discount rate—finance leases		3.1	%		3.1	%		3.1	%		3.1	%

Schedule of future minimum operating lease payments

Future minimum lease payments under noncancelable operating leases, including immaterial future minimum lease payments under finance leases, at June 30, 2024, are as follows (in thousands):


	Operating Leases		Finance Leases
2024 (remaining 6 months)	$	4,668	$	38
2025		9,027		76
2026		7,237		76
2027		5,168		76
2028		3,388		76
2029 and after		1,694		236
Total lease payments		31,182		578
Less amount representing interest		(3,422)		(60)
Total lease liability		27,760		518
Less current portion of lease liability		(7,695)		(61)
Lease liability, net of current portion	$	20,065	$	457