Eve Holding, Inc. Leases Disclosure
Leases primarily consist of office space and facilities with related parties or equipment with third parties. A lease is deemed to exist when the Company has the right to control the use of identified property, plant or equipment, as conveyed through a contract, for a certain period of time and consideration is paid. The right to control is deemed to occur when the Company has the right to obtain substantially all of the economic benefits of the identified assets and the right to direct the use of such assets. Right-of-use (“ROU”) assets and a corresponding lease liability are recognized on the lease commencement date (the date in which the asset is available for use). are recognized in .
The Company uses its estimated incremental borrowing rate in determining the present values of lease payments. The incremental borrowing rate is the rate of interest the Company would have to pay to borrow, on a collateralized basis, an amount equal to the lease payments for a term similar to the lease term in a similar economic environment as the lease. Lease liabilities are measured at the present value of lease payments to be made during the lease term, which is measured based on the contract term and renewal options. Options to extend or terminate the lease term are considered when it is reasonably certain the options will be exercised.
The following is a summary of balance sheet components of leases as of December 31:
Supplemental balance sheet information |
| 2025 |
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| 2024 |
Operating lease ROU assets - related parties | $ | 237 |
| $ | 359 |
Operating lease ROU assets - third parties |
| 73 |
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| 737 |
Total operating lease ROU assets | $ | 310 |
| $ | 1,096 |
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Operating lease liabilities - related parties | $ | 221 |
| $ | 312 |
Operating lease liabilities - third parties |
| 73 |
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| 735 |
Total operating lease liabilities | $ | 294 |
| $ | 1,047 |
The following is a summary of the total operating lease cost recognized for the years ended December 31:
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| 2025 |
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| 2024 |
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| 2023 |
Operating lease cost | $ | 198 |
| $ | 588 |
| $ | 113 |
The following presents supplemental information for the Company’s leases. For the years ended December 31, 2024 and 2023, leases with third parties were insignificant and are not included in the data below for those years.
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| 2025 |
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| 2024 |
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| 2023 |
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Supplemental information |
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Cash paid for amounts included in the measurement of lease liabilities |
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Operating cash flows for operating leases - related parties | $ | 172 |
| $ | 141 |
| $ | 113 |
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Operating cash flows for operating leases - third parties | $ | 26 |
| $ | 447 |
| $ | n.m. |
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Right-of-use assets obtained in exchange for lease obligations |
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Operating leases - related parties | $ | 1 |
| $ | - |
| $ | 334 |
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Operating leases - third parties | $ | 23 |
| $ | 1,108 |
| $ | n.m. |
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Weighted-average remaining lease term (Years) - related parties |
| 3.2 |
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| 2.6 |
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| 3.6 |
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Weighted-average remaining lease term (Years) - third parties |
| 2.7 |
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| 1.4 |
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| n.m. |
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Weighted-average discount rate - related parties |
| 16.9 | % |
| 9.9 | % |
| 10.2 | % |
Weighted-average discount rate - third parties |
| 5.1 | % |
| 3.8 | % |
| n.m. |
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n.m. = not meaningful
Future minimum lease payments at December 31, 2025 were as follows:
| Operating Leases | |
2026 | $ | 208 |
2027 |
| 117 |
2028 |
| 19 |
2029 |
| 5 |
2030 |
| - |
Thereafter |
| - |
Total minimum lease payments |
| 349 |
Imputed interest |
| (55) |
Total operating lease liabilities - related parties | $ | 294 |
As of December 31, 2025, the Company has two lease agreements with Embraer that have not yet commenced. One agreement is for a facility in Gavião Peixoto, São Paulo, Brazil. The lease is expected to commence in 2026. The other lease agreement is for a property in Taubaté, São Paulo, Brazil, which was executed on August 13, 2024. This property is expected to be used to develop the Company’s manufacturing facility for eVTOL production. The lease agreement included a commitment by the Company to invest a minimum of R$15.0 million (or approximately $2.7 million using the exchange rate as of December 31, 2025) in leasehold improvements. As of December 31, 2025, the Company incurred approximately $4.4 million in prepaid lease costs, which is recognized in the “Other non-current assets” line of the consolidated balance sheets.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 16, 2026 | Showing above |
| 2024 | Mar 11, 2025 | |
| 2023 | Mar 8, 2024 | |
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.