Company: LASR
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001124796-25-000021
Chunk: 58

Company: NLIGHT, INC.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 58
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% on an annualized basis. The interest rate on the LOC is based on the Prime Rate, minus a margin based on our liquidity levels. No amounts were outstanding under the LOC at December 31, 2024 and 2023 and we were in compliance with all covenants.Legal MattersOn March 25, 2022, Lumentum Operations LLC (Lumentum) filed a complaint against nLIGHT, Inc. and certain of its employees in the U.S. District Court for the Western District of Washington. The complaint alleged that Lumentum is the partial or full owner of certain of our patents and requests corresponding relief from the court. On December 11, 2024, the Court granted nLIGHT’s motion for summary judgement, dismissing with prejudice all of Lumentum’s claims against nLIGHT. Lumentum subsequently dismissed its appeal, ending the litigation. From time to time, we may be subject to various other legal proceedings and claims in the ordinary course of business. As of December 31, 2024, we believe these matters will not have a material adverse effect on our consolidated financial statements.

Note 13 - Leases 

We lease real estate space under non-cancelable operating lease agreements for commercial and industrial space. Facilities-related operating leases have remaining terms of 0.1 to 10.4 years, and some leases include options to extend up to 10 years. Other leases for automobiles, manufacturing and office and computer equipment have remaining lease terms of 0.4 to 3.8 years. These leases are primarily operating leases; financing leases are not material. We did not include any renewal options in our lease terms for calculating the lease liabilities as we are not reasonably certain we will exercise the options at this time. The weighted-average remaining lease term for the lease obligations was 7 years as of December 31, 2024, and the weighted-average discount rate was 4.0%.The components of lease expense related to operating leases were as follows (in thousands):

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Year Ended December 31,202420232022Lease expense:Operating lease expense$3,695 $3,671 $3,865 Short-term lease expense404 472 573 Variable and other lease expense1,055 1,020 872 $5,154 $5,163 $5,310 Future minimum payments under our non-cancelable lease obligations were as follows as of December 31, 2024 (