Viant Technology Inc.DSP

Viant Technology Inc. Leases Disclosure

10-KFiled Mar 3, 20252 min read
Leases
Lessee Arrangements
The Company has operating leases for its office space, which have remaining lease terms of up to six years. The Company does not have finance leases.
Some of these leases include renewal options to extend the leases for up to five years and/or termination options to terminate the leases within one year. If it is reasonably certain that a renewal or termination option will be exercised, the exercise of the option is considered in calculating the term of the lease.
As of December 31, 2024, the Company's operating leases had a weighted-average remaining lease term of approximately six years and a weighted-average incremental borrowing rate of 4.1%. As of December 31, 2023, the Company's operating leases had a weighted-average remaining lease term of approximately seven years and a weighted-average incremental borrowing rate of 3.6%.
Cash paid for amounts included in operating lease liabilities was $4.6 million and $4.7 million for the years ended December 31, 2024 and 2023, respectively.
The components of lease cost were as follows:
Year Ended December 31,
20242023
Operating lease cost$4,590 $4,896 
Short-term lease cost975 969 
Variable lease cost— 9 
Total lease cost$5,565 $5,874 
As of December 31, 2024, the Company had a remaining contractual obligation of $1.8 million related to a short-term lease to be paid over the following three years. The effective term of this lease is based on the cumulative days available for use throughout the contractual term, which is less than one year. The cost for this lease is included in the disclosure of short-term lease cost. This lease
and other of our short-term leases are not recorded on the Company's consolidated balance sheet due to our accounting policy election for short-term leases.
Future minimum lease payments were as follows:
As of December 31,
Year2024
20255,681 
20265,399 
20275,449 
20284,117 
20293,563 
Thereafter4,619 
Total undiscounted future lease payments28,828 
Less: Imputed interest(2,820)
Present value of operating lease liabilities26,008 
Less: Operating lease liabilities, current(4,730)
Operating lease liabilities, noncurrent$21,278 
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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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