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, 2023

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,
	2023			2022			2023			2022
Lease cost
Operating lease cost	$	1,570		$	1,319		$	3,071		$	2,779
Short‑term lease cost		39			—			94			70
Variable lease cost		36			61			70			122
Finance lease cost		23			23			46			42
Total lease cost	$	1,668		$	1,403		$	3,281		$	3,013
Other Information
Operating cash flows used in operating leases	$	1,741		$	1,631		$	3,471		$	3,095
Operating cash flows used in finance leases		21			19			42			40
Weighted‑average remaining lease term—operating leases (years)		5.1			5.4			5.1			5.4
Weighted‑average remaining lease term—finance leases (years)		6.8			7.7			6.8			7.7
Weighted‑average discount rate—operating leases		5.0	%		3.9	%		5.0	%		3.9	%
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, 2023, are as follows (in thousands):


	Operating Leases		Finance Leases
2023 (remaining 6 months)	$	3,728	$	41
2024		6,945		78
2025		6,559		77
2026		5,495		77
2027		5,008		77
2028 and after		5,082		317
Total lease payments		32,817		667
Less amount representing interest		(4,279)		(78)
Total lease liability		28,538		589
Less current portion of lease liability		(5,867)		(64)
Lease liability, net of current portion	$	22,671	$	525