Payoneer Global Inc. Leases Disclosure
NOTE 12 – LEASES
The Company’s lease expense was as follows:
Year Ended December 31, | |||||||||
| 2025 | | 2024 | | 2023 | ||||
Short-term lease expense | $ | 1,291 | 1,018 | 1,501 | |||||
Operating lease expense | 16,171 | 11,148 | 10,122 | ||||||
Total lease expense | $ | 17,462 | $ | 12,166 | $ | 11,623 | |||
The operating cash flows associated with operating leases were $10,995, $14,068 and $10,248 for the years ended December 31, 2025, 2024 and 2023, respectively. Additional balance sheet information related to leases was as follows:
December 31, | |||||||
| 2025 |
| 2024 | ||||
Operating lease right-of-use assets |
| $ | 62,257 |
| $ | 19,403 | |
Operating lease liabilities within other payables | $ | 7,249 | $ | 5,735 | |||
Operating lease liabilities within other long-term liabilities | 65,084 | 15,645 | |||||
Total operating lease liabilities | $ | 72,333 | $ | 21,380 | |||
Weighted average remaining lease term – operating leases | 8.63 | years | 7.54 | years | |||
Weighted average discount rate – operating leases | 5.72 | % | 5.93 | % | |||
During the year ended December 31, 2025, the Company commenced a new operating lease for several floors of a building in Israel for a total right-of-use asset of $32,678, which is included within our Operating lease right-of-use assets on the consolidated balance sheets. This lease expires over various periods between 2031 and 2036. In connection with this lease, the Company has provided a cash security deposit of $3,630. This amount is recorded in Restricted cash – long-term on the consolidated balance sheets.
Operating lease amounts include minimum lease payments under the Company’s non-cancelable operating leases primarily for office facilities and employee vehicles. The amounts presented are consistent with contractual terms and are not expected to differ significantly from actual results under the Company’s existing leases.
The Company leases its facilities under various operating lease agreements, which expire on various dates. The minimum lease commitments due as of the year ended under non-cancelable operating leases are as follows:
As of December 31, 2025 | | ||
2026 | $ | 633 | |
2027 | 12,751 | ||
2028 | 12,531 | ||
2029 | 11,396 | ||
2030 | 10,775 | ||
Thereafter | 48,322 | ||
Total | 96,408 | ||
Less present value discount | (24,075) | ||
Lease liability |
| $ | 72,333 |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
| 2023 | Feb 28, 2024 | |
| 2022 | Feb 28, 2023 | |
| 2021 | Mar 3, 2022 | |
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.