Lucid Diagnostics Inc. Leases Disclosure

Note 8 — Leases

 

The components of lease expense were as follows:

​	​	Year Ended December 31,						​
​	​	2025		​	​	2024		​
Operating lease cost	​	$	1,039	​	​	$	1,168	​
Short-term lease cost	​	​	59	​	​	​	74	​
Variable lease cost	​	​	35	​	​	​	62	​
Total lease cost	​	$	1,133	​	​	$	1,304	​

 

The Company’s future lease payments as of  December 31, 2025, which are presented as operating lease liabilities, current portion and operating lease liabilities, less current portion on the Company’s consolidated balance sheets are as follows:

 

2026	​	$	998	​
2027	​	​	942	​
2028	​	​	19	​
2029	​	​	—	​
2030	​	​	—	​
Total lease payments	​	$	1,959	​
Less: imputed interest	​	​	(139	)
Present value of lease liabilities	​	$	1,820	​

 

Supplemental disclosure of cash flow information related to the Company’s cash and non-cash activities with its leases are as follows:

 

​	​	Years Ended December 31,						​
​	​	2025		​	​	2024		​
Cash paid for amounts included in the measurement of lease liabilities	​	​	​	​	​	​	​	​
Operating cash flows from operating leases	​	$	1,042	​	​	$	1,148	​
Non-cash investing and financing activities	​	​	​	​	​	​	​	​
Right-of-use assets obtained in exchange for new operating lease liabilities	​	$	34	​	​	$	2,347	​
Weighted-average remaining lease term - operating leases (in years)	​	​	1.99	​	​	​	2.95	​
Weighted-average discount rate - operating leases	​	​	7.915	%	​	​	7.875	%

 

As of  December 31, 2025 and  December 31, 2024, the Company’s right-of-use assets from operating leases were $1,806 and $2,637, respectively, which are reported in operating lease right-of-use assets in the consolidated balance sheets. As of  December 31, 2025 and  December 31, 2024, the Company had outstanding operating lease obligations of $1,820 and $2,654, respectively, of which $893 and $854, respectively, are reported in operating lease liabilities, current portion and $927 and $1,800, respectively, are reported in operating lease liabilities less current portion in the Company’s consolidated balance sheets. The Company calculates its incremental borrowing rates for specific lease terms, as a function of the financing terms the Company would likely receive on the open market.