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

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Lease expense and other information consisted of the following (in thousands, except terms and rates):


	Year Ended December 31,
	2023			2022
Lease expense
Finance lease expense:
Amortization of right-of-use assets	$	7,421		$	8,486
Interest on lease liabilities	1,165			923
Operating lease expense	5,690			5,671
Short-term lease expense	18			27
Total lease expense	$	14,295		$	15,107

Supplemental cash flow information
Finance leases:
Operating cash outflow from finance leases	$	1,165		$	923
Financing cash outflow from finance leases	$	7,530		$	8,709
Finance lease liabilities arising from obtaining finance lease right-of-use assets	$	7,183		$	6,655
Operating leases:
Operating cash outflow from operating leases	$	5,574		$	4,556
Operating lease liabilities arising from obtaining operating lease right-of-use assets	$	154		$	309

Other information
Finance leases:
Weighted-average remaining lease term (years)	1.8
Weighted-average discount rate	10.3		%
Operating leases:
Weighted-average remaining lease term (years)	9.1
Weighted-average discount rate	3.9		%

Future maturities of remaining lease payments included in the measurement of operating lease as of December 31, 2023 are as follows (in thousands):


Years ending December 31,
2024	$	5,562
2025	5,701
2026	5,843
2027	5,989
2028	6,139
Thereafter	26,695
Total	55,929
Less: imputed interest	(9,028)
Present value of operating lease obligations	$	46,901

Future minimum lease payments for the Company’s finance leases as of December 31, 2023 were as follows (in thousands):


Years ending December 31,
2024	$	7,482
2025	4,519
2026	2,153
2027	—
2028	—
Thereafter	—
Total	14,154
Less amounts representing interest	(1,512)
Present value of finance lease obligations	$	12,642