Vita Coco Company, Inc.COCO

Vita Coco Company, Inc. Leases Disclosure

10-KFiled Feb 18, 20263 min read
LEASES
In January 2016, the Company entered into an operating lease for office space in New York, New York, which was set to expire in January 2023. The lease was extended to October 31, 2025 to allow for a smooth transition to the Company's new New York office.
In August 2024, the Company signed a lease agreement for a new office in New York, New York. The operating lease commenced on January 1, 2025, and terminates in December 2034, with an option to extend for an additional two years. Total undiscounted future payments for this new office lease are $15,766. The Company recognized ROU assets and lease liabilities of $10,002 and $11,692, respectively, upon lease commencement on the Company’s consolidated balance sheet. Additionally, upon signing the agreement, the Company was required to establish a letter of credit of $920 which may be used in case of delinquency. As of December 31, 2025, the Company accounted for this letter of credit as restricted cash included in Prepaid and other current assets on the consolidated balance sheet.
In November 2024, the Company signed a lease agreement for a new office in London, United Kingdom. The operating lease commenced on January 2, 2025 and terminates in December 2029. Total undiscounted future payments for this new office lease are $1,152. The Company recognized ROU assets and lease liabilities of $1,140 and $1,252 respectively, upon lease commencement on the Company’s consolidated balance sheet. The Company agreed to establish a security deposit of $117, which is refundable at the end of the lease period.
In April 2025, the Company signed an agreement for a new office in Singapore. The operating lease commenced on April 1, 2025 and terminates in June 2030. Total undiscounted future payments for this new office lease are $1,675. The Company recognized ROU assets and lease liabilities of $1,564 and $1,564 respectively, upon lease commencement on the Company’s consolidated balance sheet.
As of December 31, 2025, the Company did not have any additional operating leases that have not yet commenced with future undiscounted lease payments.
The components of lease cost, which are included within operating expenses in the accompanying consolidated statements of operations, are summarized in the following table (in thousands). Any variable lease costs are immaterial.

Year Ended December 31, 2025Year Ended December 31, 2024
Operating lease cost
$2,801 $1,038 


The following table summarizes supplemental balance sheet information for the Company’s operating leases:

Line Item in Balance Sheet
As of December 31, 2025
As of December 31, 2024
Noncurrent assets:
Operating lease right-of-use assets
Right-of-use assets, net
$11,592 $385 
Current liabilities:
Current portion of operating lease liabilitiesAccrued expenses$1,727 $422 
Noncurrent liabilities:
Non-current portion of operating lease liabilitiesOther long-term Liabilities$13,087 $— 

The following summarizes the weighted average remaining lease term and weighted average discount rate related to the Company’s right-of-use assets and lease liabilities recorded on the balance sheet as of December 31, 2025:
As of December 31, 2025
Weighted-average remaining lease terms8.19
Weighted average discount rate5.4 %


The following table summarizes supplemental cash flow information for the Company’s operating leases:
As of December 31, 2025
Cash paid for amounts included in the measurement of operating lease liabilities$1,492 


The following table presents the maturity of the Company’s operating lease liabilities as of December 31, 2025:
Year ending December 31,Maturity of Lease Payments
2026$2,265 
20272,289 
20282,317 
20292,344 
20301,948 
Thereafter7,429 
Total lease payments$18,592 
Less: imputed interest3,778 
Total lease liabilities$14,814 

Historical Timeline

Fiscal YearFiled
2025Feb 18, 2026Showing above
2024Feb 26, 2025
2023Feb 29, 2024
2022Mar 14, 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.

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