Smartbird, Inc. Leases Disclosure
| (in thousands, except for lease term and discount rate) | December 31, 2025 | December 31, 2024 | |||||||||
| Operating lease costs | $ | 8,415 | $ | 14,831 | |||||||
| Variable lease costs | 112 | 143 | |||||||||
| Short-term lease costs | 14 | 179 | |||||||||
| Sublease income | (200) | (270) | |||||||||
| Total lease costs | $ | 8,341 | $ | 14,883 | |||||||
| Weighted-average remaining lease term (in years) | 4.85 | 5.93 | |||||||||
| Weighted-average discount rate | 5.22 | % | 5.47 | % | |||||||
| (in thousands) | December 31, 2025 | December 31, 2024 | |||||||||
| Cash paid for amounts included in the measurement of operating lease liabilities | $ | 12,285 | $ | 19,252 | |||||||
Right of use assets obtained in exchange for lease liabilities | 443 | — | |||||||||
Right of use assets given up for reduction of lease liabilities | (17,151) | (17,565) | |||||||||
| (in thousands) | Operating Leases | ||||
Fiscal year ended December 31, | |||||
| 2026 | $ | 7,208 | |||
| 2027 | 4,748 | ||||
| 2028 | 3,787 | ||||
| 2029 | 3,109 | ||||
2030 | 2,925 | ||||
Thereafter | 2,853 | ||||
| Total undiscounted operating lease payments | $ | 24,630 | |||
| Less: imputed discount | (2,361) | ||||
| Total operating lease liabilities | $ | 22,269 | |||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 31, 2026 | Showing above |
| 2024 | Mar 12, 2025 | |
| 2023 | Mar 13, 2024 | |
| 2022 | Mar 10, 2023 | |
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.