NEXTNAV INC. Leases Disclosure
5. Leases
All leases were classified as operating leases as of December 31, 2025 and 2024.
Components of operating lease expense were as follows (in thousands):
| Year Ended | ||||
| December 31, | ||||
| 2025 |
| 2024 | ||
Operating lease cost | $ | 4,915 |
| $ | 5,133 |
Variable lease cost | $ | 302 |
| $ | 209 |
Short-term lease cost | $ | 130 |
| $ | 311 |
Supplemental information related to operating leases was as follows (in thousands):
| Year Ended | ||||
| December 31, | ||||
| 2025 |
| 2024 | ||
Operating cash flows from operating leases | $ | 4,658 |
| $ | 4,574 |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ | 1,047 |
| $ | 2,068 |
As of December 31, 2025, the Company's operating leases had a weighted average remaining lease term of 6.0 years and a weighted average discount rate of 8.0%.
Future lease payments under as of December 31, 2025 were as follows (in thousands):
2026 | $ | 3,928 |
2027 |
| 3,104 |
2028 |
| 2,813 |
2029 |
| 2,547 |
2030 |
| 2,154 |
Thereafter |
| 4,720 |
Total undiscounted future lease payments | $ | 19,266 |
Less: imputed interest |
| (4,256) |
Total lease liability balance | $ | 15,010 |
As of December 31, 2025, and 2024, the Company did not enter into leases that have not yet commenced.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 17, 2026 | Showing above |
| 2024 | Mar 12, 2025 | |
| 2023 | Mar 13, 2024 | |
| 2022 | Mar 30, 2023 | |
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.