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)

9 Months Ended

Sep. 30, 2024

Schedule of other lease related balances

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


	Three Months Ended September 30,						Nine Months Ended September 30,
	2024			2023			2024			2023
Lease cost
Operating lease cost	$	4,944		$	1,403		$	14,969		$	4,474
Short‑term lease cost		—			80			86			174
Variable lease cost		—			36			21			106
Finance lease cost		27			45			80			91
Total lease cost	$	4,971		$	1,564		$	15,156		$	4,845
Other Information
Operating cash flows used in operating leases	$	2,318		$	1,388		$	7,055		$	4,859
Operating cash flows used in finance leases		23			39			71			81
Weighted‑average remaining lease term—operating leases (years)		3.7			4.6			3.7			4.6
Weighted‑average remaining lease term—finance leases (years)		5.6			6.6			5.6			6.6
Weighted‑average discount rate—operating leases		6.2	%		5.8	%		6.2	%		5.8	%
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 September 30, 2024, are as follows (in thousands):


	Operating Leases		Finance Leases
2024 (remaining 3 months)	$	2,332	$	—
2025		9,152		20
2026		7,322		79
2027		5,246		79
2028		3,388		79
2029 and after		1,679		325
Total lease payments		29,119		582
Less amount representing interest		(3,034)		(58)
Total lease liability		26,085		524
Less current portion of lease liability		(7,872)		(64)
Lease liability, net of current portion	$	18,213	$	460