CuriosityStream Inc.CURI

CuriosityStream Inc. Leases Disclosure

10-KFiled Mar 12, 20262 min read
LEASES
COMPANY AS LESSEE
The Company is party to a non-cancellable operating lease agreement for office space, which expires in 2033. The Company’s operating lease for this office space includes fixed rent payments and variable lease payments, which are primarily related to common area maintenance and utility charges. The Company elected not to separate lease and non-lease components, and as such, all amounts paid under the lease are classified as either fixed or variable lease payments. The Company has determined that no renewal clauses are reasonably certain of being exercised and therefore has not included any renewal periods within the lease term for this lease.
As of December 31, 2025, and 2024, the Company held operating lease right-of-use (ROU) assets of $2.8 million and $3.1 million, respectively; current lease liabilities of $0.4 million and $0.4 million, respectively; and non-current lease liabilities of $3.5 million and $3.9 million, respectively. In measuring operating lease liabilities, the Company used a weighted average discount rate of 4.4% as of December 31, 2025. This rate was determined based on the Company's incremental borrowing rate, reflecting the interest rate the Company would have to pay to borrow on a collateralized basis over a similar term and in a similar economic environment. The weighted average remaining lease term as of December 31, 2025, was 7.17 years.
Components of Lease Cost
For the years ended December 31, 2025, and 2024, the Company’s total operating lease cost was comprised of the following:
Year Ended December 31,
(in thousands)20252024
Operating lease cost$477 $477 
Variable lease cost64 50 
Total lease cost$541 $527 
Maturity of Lease Liabilities
As of December 31, 2025, maturities of the Company's operating lease liabilities, which do not include short-term leases and variable lease payments, are as follows:
(in thousands)
2026$585 
2027600 
2028615 
2029630 
2030646 
Thereafter1,455 
Total Lease Payments4,531 
Less: imputed interest(644)
Present value of total lease liabilities$3,887 
COMPANY AS LESSOR
The Company sublets a portion of its office space to a related party and accounts for the arrangement as an operating lease. Related-party sublease rental income is recognized on a straight-line basis and is included in Interest and other income in the accompanying consolidated statements of operations. For the year ended December 31, 2025, operating lease income from the Company’s sublet was immaterial. As of December 31, 2025, total remaining future minimum lease payments receivable on the Company’s operating lease was $0.2 million.
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Historical Timeline

Fiscal YearFiled
2025Mar 12, 2026Showing above
2024Mar 25, 2025
2023Mar 25, 2024
2022Mar 31, 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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