Item 2. Properties
Item 2. Properties
On January 29, 2025, we entered into a new lease agreement for a facility of approximately 17,628 square feet in Austin, Texas (the “Metric Facility”) for a term of 89-months, which term commenced on July 1, 2025. The Metric Facility is intended to support and encompass all Austin-based functions. Our total contractual base rent obligation for the Metric Facility is approximately $3.0 million, less a tenant allowance of $312.5 thousand, resulting in a net lease commitment of approximately $2.7 million.
Our equipment lease is for a device used in our research and development efforts.
We believe that our current facility and equipment are well maintained and in good condition. The facility and equipment are adequate for our present needs.
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