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, 2023

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,
	2023			2022			2023			2022
Lease cost
Operating lease cost	$	1,403		$	1,507		$	4,474		$	4,286
Short‑term lease cost		80			31			174			101
Variable lease cost		36			54			106			176
Finance lease cost		45			22			91			64
Total lease cost	$	1,564		$	1,614		$	4,845		$	4,627
Other Information
Operating cash flows used in operating leases	$	1,388		$	1,580		$	4,859		$	4,675
Operating cash flows used in finance leases		39			16			81			56
Weighted‑average remaining lease term—operating leases (years)		4.6			12.8			4.6			12.8
Weighted‑average remaining lease term—finance leases (years)		6.6			7.8			6.6			7.8
Weighted‑average discount rate—operating leases		5.8	%		4.5	%		5.8	%		4.5	%
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, 2023, are as follows (in thousands):


	Operating Leases		Finance Leases
2023 (remaining 6 months)	$	2,101	$	20
2024		8,109		76
2025		7,646		75
2026		6,075		75
2027		4,985		75
2028 and after		5,082		308
Total lease payments		33,998		629
Less amount representing interest		(4,231)		(72)
Total lease liability		29,767		557
Less current portion of lease liability		(6,583)		(61)
Lease liability, net of current portion	$	23,184	$	496