Blaize Holdings, Inc.BZAI

Blaize Holdings, Inc. Leases Disclosure

10-KFiled Mar 24, 20262 min read
Note 8. Leases and Geographic Location of ROU Assets

The Company’s lease obligations consist of operating leases for office facilities, with lease periods expiring between fiscal years 2026 and 2029, some of which include options to extend up to 12 months. Payments under these lease arrangements are primarily fixed, however, certain lease agreements contain variable payments for maintenance
services, utilities, and other expenses, which are expensed as incurred and not included in the operating lease ROU assets and liabilities. The Company does not have any leases that include residual value guarantees.

The components of the net lease costs reflected in the Company’s consolidated statements of operations are set forth in the table below:

For the Year Ended December 31,
(Amounts in thousands)20252024
Operating$802 $817 
Short-term2226
Total lease costs$824 $843 

The Company’s operating leases had a weighted average remaining lease term of 2.3 years and 3.2 years as of December 31, 2025 and 2024, respectively, and a weighted average discount rate related to the Company’s ROU assets and lease liabilities of 10.0% and 9.9% as of December 31, 2025 and 2024, respectively.

Future minimum lease payments under the Company’s non-cancelable operating leases are set forth in the table below:

(Amounts in thousands)
2026$753 
2027512 
2028345 
202914 
2030— 
Total future minimum lease payments$1,624 
Less: Imputed interest(176)
Present value of future minimum lease payments$1,448 
Less: Operating lease liabilities, current(644)
Operating lease liabilities$804 

The following table sets forth the geographic location of the Company’s ROU assets as of December 31, 2025, and 2024:

As of December 31,
(Amounts in thousands)20252024
India$871 $1,175 
United Kingdom528 321 
United States117 277 
Total ROU assets$1,516 $1,773 

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.

Other Available Disclosures

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