MESA LABORATORIES INC /CO/ Leases Disclosure
Note 5. Leases
We have operating leases for buildings and office equipment used in manufacturing and distribution, engineering, research and development, sales and marketing, and administration activities. The following table presents the lease balances within the Consolidated Balance Sheets related to our operating leases:
| Lease Assets and Liabilities | Balance Sheet Location | March 31, 2026 | March 31, 2025 | ||||||
| Operating lease ROU asset |
| $ | 17,500 | $ | 16,382 | ||||
| Current operating lease liabilities |
| 3,687 | 3,523 | ||||||
| Noncurrent operating lease liabilities |
| 13,662 | 12,380 | ||||||
The components of lease costs, the weighted average remaining lease term and the weighted average discount rate were as follows:
| Year Ended March 31, | ||||||||||||
| 2026 | 2025 | 2024 | ||||||||||
| Operating lease expense | $ | 4,990 | $ | 4,025 | $ | 3,453 | ||||||
| Variable lease expense | 1,781 | 1,316 | 1,039 | |||||||||
| Short term lease expense | 388 | 571 | 423 | |||||||||
| Total lease expense | $ | 7,159 | $ | 5,912 | $ | 4,915 | ||||||
| Weighted average remaining lease term in years | 7.6 | 6.8 | 4.6 | |||||||||
| Weighted average discount rate | 6.7 | % | 6.2 | % | 4.1 | % | ||||||
Supplemental cash flow information related to leases was as follows:
| Year Ended March 31, | ||||||||||||
| 2026 | 2025 | 2024 | ||||||||||
| Cash paid for amounts included in the measurements of lease liabilities | $ | 5,041 | $ | 4,534 | $ | 3,392 | ||||||
| Operating lease assets obtained in exchange for operating lease liabilities | 4,151 | 9,863 | 4,265 | |||||||||
As of March 31, 2026 maturities of lease liabilities are as follows for future years ending March 31:
| 2027 | $ | 4,732 | ||
| 2028 | 1,702 | |||
| 2029 | 2,385 | |||
| 2030 | 2,284 | |||
| 2031 | 2,269 | |||
| Thereafter | 9,125 | |||
| Future value of lease liabilities | 22,497 | |||
| Less: imputed interest | (5,148 | ) | ||
| Present value of lease liabilities | $ | 17,349 |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Jun 3, 2026 | Showing above |
| 2025 | May 28, 2025 | |
| 2024 | Jun 28, 2024 | |
| 2023 | May 30, 2023 | |
| 2022 | May 31, 2022 | |
| 2021 | Jun 1, 2021 | |
| 2020 | Jun 1, 2020 | |
| 2019 | Jun 3, 2019 | |
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.