DBV Technologies S.A.DBVT

DBV Technologies S.A. Leases Disclosure

10-KFiled Mar 26, 20262 min read
Lease contracts
Future minimum lease payments under the Company’s operating leases’ right of use as of December 31, 2025 and 2024, are as follows:
(Amounts in thousands of US Dollars)
31/12/202531/12/2024
Real EstateOther assetsTotalReal EstateOther assetsTotal
Current portion
1,335 
77 
1,412 
810 
26 
836 
Year 2
977 
7 
984 
1,222 
7 
1,228 
Year 3
977 
7 
984 
1,230 
7 
1,237 
Thereafter
4,247 
2 
4,248 
5,127 
9 
5,136 
Total minimum lease payments
7,534 
93 
7,628 
8,388 
49 
8,437 
Less: Effects of discounting
(1,098)
(5)
(1,102)
(1,463)
(23)
(1,486)
Present value of lease liabilities6,436 88 6,526 6,925 26 6,951 
Less: current portion
(1,043)
(74)
(1,117)
(648)
(6)
(654)
Long-term lease liabilities5,394 14 5,409 6,278 20 6,297 
Weighted average remaining lease term (years)
6.95
0.19
7.49
0.02
Weighted average discount rate5.02 %0.07 %5.02 %0.02 %
The Company recognizes rent expense, calculated as the remaining cost of the lease allocated over the remaining lease term on a straight-line basis. Rent expense presented in the consolidated statement of operations and comprehensive loss was:
December 31,
(Amounts in thousands of US Dollars)
20252024
Operating lease expense / (income)
1,214 
1,868 
Net termination impact
(90)
(52)
In November 2023, the Company signed agreements for the new headquarters in Châtillon, France:
•a short term lease agreement in order to fit the new offices;
•a lease agreement starting on April 16, 2024.
The lease commencement was based upon delivery of possession of the premises by the Landlord and occurred in November 2023. Right of use and related lease debt have been recorded starting November 2023 for a gross amount of $4.5 million.
Pursuant section 8 of the Sublease between DBV Technologies, Inc. and Envision Pharma Inc. for Premises located at 10 Independence Boulevard, Warren, New Jersey (“Sublease”), Envision Pharma Inc. gave notice of its intention to terminate the Sublease as of December 30, 2026. The Company adjusted accordingly the Right of Use asset and the lease liability and reclassed the remaining liability onto current liabilities.
Supplemental cash flow information related to operating leases is as follows for the year ended December 31, 2025 and 2024:
December 31,
(Amounts in thousands of US Dollars)
20252024
Cash paid for amounts included in the measurement of lease liabilities
— 
— 
Operating cash flows from operating leases
563 
1,053 

Historical Timeline

Fiscal YearFiled
2025Mar 26, 2026Showing above
2024Apr 11, 2025
2023Mar 7, 2024
2022Mar 2, 2023
2021Mar 9, 2022
2020Mar 17, 2021

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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