NOTE 8 - LEASES

During the years ended December 31, 2025 and 2024, we recognized additional ROU assets and lease liabilities of $0.0 and $3,481.7, respectively. We elected not to recognize ROU assets and lease liabilities arising from short-term office leases with initial terms of twelve months or less on the consolidated balance sheets.

When measuring lease liabilities for leases that were classified as operating leases, we discounted lease payments using our estimated incremental borrowing rate. The weighted average incremental borrowing rate applied was 7.86%. As of December 31, 2025, our leases had a remaining weighted average term of 2.71 years.

Our corporate headquarters is currently leased through a sublease agreement which expires on February 28, 2026. In November 2025, we entered into a lease agreement with the prime lessor of our corporate headquarters for a term from March 1, 2026, through March 31, 2029. We have not recognized the ROU asset and lease liability associated with this lease as we do not have the right to use the leased premise under the prime lease until March 1, 2026. Annual base rent on the prime lease begins at $226.3 with 3.0% annual increases.

Operating leases are included in the consolidated balance sheets as follows:

	Classification	December 31, 2025		December 31, 2024
Lease assets
Operating lease cost ROU assets, net	Assets	$	2,505.3	$	3,416.1
Total lease assets		$	2,505.3	$	3,416.1

Lease liabilities
Operating lease liabilities, current	Current liabilities	$	836.2	$	1,080.8
Operating lease liabilities, non-current	Liabilities		1,723.5		2,559.7
Total lease liabilities		$	2,559.7	$	3,640.5

The components of lease costs, which are included in loss from operations in our consolidated statements of operations were as follows:

	Year Ended
(in thousands)	December 31, 2025		December 31, 2024		December 31, 2023
Lease costs
Operating lease costs	$	1,152.6	$	537.8	$	179.5
Variable lease costs		150.1		170.8		108.1
Short term lease costs		34.1		33.3		44.0
Total lease costs	$	1,336.8	$	741.9	$	331.6

Future minimum payments under non-cancellable leases for operating leases for the remaining terms of the leases following the year ended December 31, 2025, are as follows:

(in thousands)
2026	$	1,009.6
2027		1,005.1
2028		770.9
2029		87.9
Total future minimum lease payments		2,873.5
Amount representing interest		(313.8	)
Present value of net future minimum lease payments	$	2,559.7

Historical Timeline

Fiscal Year	Filed
2025	Feb 27, 2026	Showing above
2024	Feb 14, 2025

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.

Trump Media & Technology Group Corp. Leases Disclosure

Historical Timeline

About Leases Disclosures

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