Kiniksa Pharmaceuticals International, plc Leases Disclosure
7. Leases
The Company leases office, laboratory space and vehicles under operating leases. In May 2023, the Company entered into a lease amendment to extend the term of the Lexington, Massachusetts headquarters lease by forty-eight months to August 31, 2028. The Company accounted for the lease amendment as a modification and recorded increases in the right-of-use-assets and lease liability of $8,515.
The components of lease cost for the year ended December 31, 2025, 2024 and 2023 are as follows:
Years Ended | |||||||||
December 31, | |||||||||
2025 | | 2024 | 2023 | ||||||
Operating lease cost | $ | 4,377 | $ | 3,875 | $ | 3,749 | |||
Variable lease cost | 894 | 708 | 1,023 | ||||||
Short-term lease cost | 15 | 153 | - | ||||||
Total lease cost | $ | 5,286 | $ | 4,736 | $ | 4,772 | |||
Variable lease costs primarily related to operating expense, taxes and insurance associated with the Company’s operating leases. As these costs are generally variable in nature, they are not included in the measurement of the operating lease asset and related lease liability.
December 31, | |||||||||
2025 | |||||||||
Weighted-average remaining lease term (years) | 2.66 | ||||||||
Weighted-average discount rate | 6.98% | ||||||||
Maturities of operating leases liabilities were as follows:
As of December 31, | |||||||||
2026 | $ | 3,480 | |||||||
2027 | 4,164 | ||||||||
2028 | 2,563 | ||||||||
2029 | 193 | ||||||||
2030 | 80 | ||||||||
Thereafter |
| — | |||||||
Total future minimum lease payments | $ | 10,480 | |||||||
Less imputed interest | (983) | ||||||||
Present value of lease liabilities | $ | 9,497 | |||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 24, 2026 | Showing above |
| 2024 | Feb 25, 2025 | |
| 2023 | Feb 28, 2024 | |
| 2022 | Mar 2, 2023 | |
| 2021 | Feb 24, 2022 | |
| 2020 | Feb 25, 2021 | |
| 2019 | Mar 5, 2020 | |
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.