Company: BKTI
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001437749-25-026668
Chunk: 29

Company: BK Technologies Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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 for the facility are approximately $610.
    
   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 will be approximately $196 for the first year, increasing by approximately 3% for each subsequent 12-month period.
    
   Lease costs consisted of the following:

       Three Months Ended    Six Months Ended  
   June 30, 2025    June 30, 2024    June 30, 2025    June 30, 2024  
 Operating lease cost  $136  $135  $272  $270 
 Variable lease cost   33   33   67   66 
 Total lease cost  $169  $168  $339  $336 

       15

   Note 11. Leases (continued)
    
   Supplemental cash flow information related to leases was as follows:

       Three Months Ended    Six Months Ended  
   June 30, 2025    June 30, 2024    June 30, 2025    June 30, 2024  
 Cash paid for amounts included in the measurement of lease liabilities:                 
 Operating cash flows (fixed payments)  $155  $150  $310  $300 
 Operating cash flows (liability reduction)  $139  $129  $280  $256 
                 
 ROU assets obtained in exchange for lease obligations:                 
 Operating leases  $—  $24  $—  $24 

   Other information related to operating leases was as follows:

       June 30, 2025  
 Weighted average remaining lease term (in years)   1.93 
 Weighted average discount rate   5.50%

   Maturity of lease liabilities as of  June 30, 2025, were as follows:

       June 30, 2025  
 Remaining six months of 2025  $314 
 2026   486 
 2027