Company: BKTI
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009464
Chunk: 314

Company: BK Technologies Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 3
Chunk 314
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, Florida, under a non-cancellable operating lease. The lease has the expiration date of  June 30, 2027. The lease includes an option for one additional extension period of five (5) years commencing  July 1, 2027 and terminating at midnight  June 30, 2032. Rental, maintenance and tax expenses for this facility were approximately $625 and $596 in 2024 and 2023, respectively.
    
   In  February 2020, the Company entered into a lease for 6,857 square feet (not in thousands) of office space at Sawgrass Technology Park, 1619 NW 136th Avenue in Sunrise, Florida, for a period of 64 months commencing  July 1, 2020. Annual rental, maintenance and tax expenses for the facility were approximately $224 and $212 in 2024 and 2023, respectively.
    
   Lease costs consist of the following:

       December 31,  
   2024    2023  
 Operating lease cost  $543  $542 
 Variable lease cost   133   132 
 Total lease cost  $676  $674 

        F-
       15

        BK TECHNOLOGIES CORPORATION

        YEARS ENDED
        DECEMBER 31, 2024 AND
       2023

        NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

        (in thousands, except share data and percentages)

   8. Leases (Continued)
    
   Supplemental cash flow information related to leases was as follows:

       December 31,  
   2024    2023  
 Cash paid for amounts included in the measurement of lease liabilities:         
 Operating cash flows (fixed payments)  $611  $595 
 Operating cash flows (liability reduction)   528   485 

   Other information related to operating leases was as follows:

       December 31,  
   2024  
 Weighted average remaining lease term (in years)   2.36 
 Weighted average discount rate   5.50%

   Maturity of operating lease liabilities as of  December 31, 2024 were as follows:

       Year ending  
   December 31,  
 2025  $625 
 2026   486 
 2027