Weave Communications, Inc. Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

12 Months Ended

Dec. 31, 2022

Lease expense and other information consisted of the following for the year ended December 31, 2022 (in thousands, except terms and rates):


	Year Ended December 31, 2022
Lease expense
Finance lease expense:
Amortization of right-of-use assets	$	8,486
Interest on lease liabilities	923
Operating lease expense	5,671
Short-term lease expense	27
Total lease expense	$	15,107

Supplemental cash flow information
Finance leases:
Operating cash outflow from finance leases	$	923
Financing cash outflow from finance leases	$	8,709
Finance lease liabilities arising from obtaining finance lease right-of-use assets	$	6,655
Operating leases:
Operating cash outflow from operating leases	$	4,556
Operating lease liabilities arising from obtaining operating lease right-of-use assets	$	309

Other information
Finance leases:
Weighted-average remaining lease term (years)	1.7
Weighted-average discount rate	8.2		%
Operating leases:
Weighted-average remaining lease term (years)	10.0
Weighted-average discount rate	3.9		%

Future maturities of remaining lease payments included in the measurement of operating lease as of December 31, 2022 are as follows (in thousands):


Years ending December 31,
2023	$	5,545
2024	5,562
2025	5,701
2026	5,843
2027	5,989
Thereafter	32,833
Total	61,473
Less: imputed interest	(10,897)
Present value of operating lease obligations	$	50,576

Future minimum lease payments for the Company’s finance leases as of December 31, 2022 were as follows (in thousands):


Years ending December 31,
2023	$	7,776
2024	4,442
2025	2,032
2026	—
2027	—
Thereafter	—
Total	14,250
Less amounts representing interest	(1,261)
Present value of finance lease obligations	$	12,989