BlackSky Technology Inc. Leases Disclosure
Years Ended December 31, | ||||||||||||||
2025 | 2024 | |||||||||||||
(in thousands) | ||||||||||||||
Operating lease expense | $ | 1,467 | $ | 1,399 | ||||||||||
Variable lease expense | 657 | 341 | ||||||||||||
Short-term lease expense | 36 | 138 | ||||||||||||
Sublease income | (79) | — | ||||||||||||
Total rent expense | $ | 2,081 | $ | 1,878 | ||||||||||
December 31, | December 31, | |||||||||||||
2025 | 2024 | |||||||||||||
(in thousands) | ||||||||||||||
Operating lease right of use assets - net | $ | 3,418 | $ | 4,029 | ||||||||||
Operating lease liabilities: | ||||||||||||||
Other current liabilities | $ | 769 | $ | 775 | ||||||||||
Operating lease liabilities | 7,579 | 8,048 | ||||||||||||
Total operating lease liabilities | $ | 8,348 | $ | 8,823 | ||||||||||
Years Ended December 31, | ||||||||||||||
2025 | 2024 | |||||||||||||
(dollars in thousands) | ||||||||||||||
Operating cash flows for operating leases | $ | 1,232 | $ | 1,102 | ||||||||||
ROU assets obtained in exchange for new lease liabilities | $ | — | $ | 5,450 | ||||||||||
Weighted average remaining lease term (in years) | 8.71 | 9.03 | ||||||||||||
Weighted average discount rate | 10.15 | % | 10.15 | % | ||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 17, 2026 | Showing above |
| 2024 | Mar 20, 2025 | |
| 2023 | Mar 20, 2024 | |
| 2022 | Mar 23, 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.