Company: LIDRW
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001437749-25-015868
Chunk: 82

Company: AEye, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 82
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tlement agreement to resolve all outstanding disputes related to the early termination of the lease. Under the terms of the agreement, the Company will pay $1,400 in cash and issue a warrant to purchase up to 350,000 shares of common stock at an initial exercise price of $2.22 per share with an estimated fair value of $228. The settlement was treated as a Type 1 subsequent event, and as a result, the Company adjusted the termination liability to $1,628 as of  March 31, 2025 and recorded a gain on termination of operating lease of $1,685 during three months ended  March 31, 2025. See Note 17, Commitments and Contingencies, for further discussion. 
     
   The components of operating lease expenses, excluding the gain on early termination of operating lease, for the three months ended  March 31, 2025 and 2024, are as follows (in thousands):

       Three months ended March 31,  
   2025    2024  
 Operating lease cost  $71  $589 
 Variable lease cost   4   84 
 Total operating lease cost  $75  $673 

   Maturities of lease liabilities, excluding the lease termination liability, are as follows (in thousands):

       Operating leases  
 Years ending - December 31:   (unaudited)  
 2025 (remaining nine months)  $207 
 2026   283 
 2027   258 
 Total lease payments   748 
 Less amount to discount to present value   (59)
 Present value of lease liabilities  $689 

    6.   ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES  

   Accrued expenses and other current liabilities as of  March 31, 2025 and  December 31, 2024  are as follows (in thousands):

       March 31, 2025    December 31, 2024  
   (unaudited)      
 Lease termination liability  $1,628  $3,313 
 Accrued payroll   370   347 
 Operating lease liabilities   269   267 
 Accrued payroll taxes   126   159 
 Accrued bonuses   37