BigBear.ai Holdings, Inc. Leases Disclosure
| December 31, 2025 | December 31, 2024 | ||||||||||
| Weighted average remaining lease term | 6.59 | 8.06 | |||||||||
| Weighted average discount rate | 14.59 | % | 13.52 | % | |||||||
| Years Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Operating lease expense | $ | 2,052 | $ | 2,139 | $ | 1,149 | |||||||||||
| Variable lease expense | 160 | 47 | 221 | ||||||||||||||
| Short-term lease expense | 58 | 18 | 117 | ||||||||||||||
| Lease expense | $ | 2,270 | $ | 2,204 | $ | 1,487 | |||||||||||
| Years Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
Sublease income (1) | $ | 291 | $ | 72 | $ | 133 | |||||||||||
| Years Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Cash paid for amounts included in the measurement of lease liabilities - operating cash flows from leases | $ | 2,321 | $ | 2,199 | $ | 1,430 | |||||||||||
| Right-of-use assets obtained in exchange for lease obligations - non-cash activity | $ | 378 | $ | 5,942 | $ | — | |||||||||||
| 2026 | $ | 2,158 | |||
| 2027 | 1,554 | ||||
| 2028 | 1,523 | ||||
| 2029 | 1,552 | ||||
| 2030 | 1,773 | ||||
| Thereafter | 4,219 | ||||
| Total future minimum lease payments | $ | 12,779 | |||
| Less: amounts related to imputed interest | 5,011 | ||||
| Present value of future minimum lease payments | 7,768 | ||||
| Less: current portion of long-term lease liability | 1,095 | ||||
| Long-term lease liability | $ | 6,673 | |||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 2, 2026 | Showing above |
| 2024 | Mar 25, 2025 | |
| 2023 | Mar 15, 2024 | |
| 2022 | Mar 31, 2023 | |
| 2021 | Mar 31, 2022 | |
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.