Aldeyra Therapeutics, Inc. Leases Disclosure
The Company currently leases office space to conduct business operations. Lease renewal options are regularly evaluated, and when the exercise of an option is reasonably certain, the Company includes the renewal period in the lease term. The lease does not specify an implicit rate. Based on information available at the lease commencement date, the Company uses the incremental borrowing rate to determine the present value of lease payments.
In November 2023, the Company entered into a lease amendment extending the lease by 12 months, through December 31, 2024. The amendment also included two additional 12-month extension options. Each option was exercised by providing written notice to the landlord at least nine months in advance. In April 2024, the Company exercised the first extension option, extending the lease through December 2025. The extension was reflected in the financial statements as of December 31, 2023. In April 2025, the Company exercised the second extension option, further extending the lease through December 2026. The extension is reflected on the balance sheet as of March 31, 2025, the date the exercise of the option was reasonably certain, through the remeasurement of the related lease liability and a corresponding adjustment to the right-of-use asset. For the years ended December 31, 2025 and 2024, right-of-use assets obtained in exchange for lease obligations were $0.3 million and $0.3 million, respectively.
As of December 31, 2025, the Company maintained an unamortized right-of-use asset with a corresponding operating lease liability of approximately $0.3 million based on the present value of the minimum rental payments in accordance with ASC 842, Leases. The weighted average discount rate used for leases as of December 31, 2025 is 9.1%. The weighted average lease term as of December 31, 2025 is 1.0 year. The operating lease expense for the year ended December 31, 2025 was $0.3 million. Maturities and balance sheet presentation of our lease liabilities for all operating leases as of December 31, 2025 is as follows:
Remaining total lease payments |
|
$ |
294,557 |
|
Less: effect of discounting |
|
|
(14,020 |
) |
Present value of lease liabilities |
|
$ |
280,537 |
|
|
|
|
|
|
Current operating lease liabilities |
|
$ |
280,537 |
|
Non-current operating lease liabilities |
|
|
— |
|
Total |
|
$ |
280,537 |
|
The Company’s gross future minimum payments under all non-cancellable operating leases as of December 31, 2025 are:
|
|
Total |
|
|
2026 |
|
|
2027 |
|
|
2028 |
|
|
2029 |
|
|||||
Operating Lease Obligations |
|
$ |
294,557 |
|
|
$ |
294,557 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 27, 2026 | Showing above |
| 2024 | Feb 28, 2025 | |
| 2023 | Mar 7, 2024 | |
| 2022 | Mar 9, 2023 | |
| 2021 | Mar 17, 2022 | |
| 2020 | Mar 11, 2021 | |
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.