Senseonics Holdings, Inc. Leases Disclosure
11. | Leases |
The Company leases approximately 33,000 square feet of research and office space for its corporate headquarters under a non-cancelable operating lease. In May 2023, the Company amended our lease, extending the lease term through 2033, and obtained a tenant improvement allowance of $1.3 million. The Company accounted for the amendment as a lease modification and remeasured the ROU asset and lease liability as of the amendment date, which resulted in an increase of $2.5 million to the ROU asset, and an increase of $3.8 million to the lease liability. The Company has one option to extend the term for an additional period of five years beginning on June 1, 2033. The rent expense is recognized on a straight-line basis through the end of the lease term, excluding option renewals. The difference between the straight-line rent amounts and amounts payable under the lease is recorded as deferred rent.
Operating lease expense for the years ended December 31, 2025 and 2024 was $0.9 million for each period.
The following table summarizes the lease assets and liabilities as of December 31, 2025 and 2024 (in thousands):
December 31, | |||||||||
Operating Lease Assets and Liabilities | Balance Sheet Classification | 2025 | 2024 | ||||||
Assets | | ||||||||
Operating lease ROU assets | $ | 4,460 | $ | 4,837 | |||||
Liabilities | |||||||||
Current operating lease liabilities | $ | 496 | $ | 429 | |||||
Non-current operating lease liabilities | Non-current operating lease liabilities | 5,289 | 5,785 | ||||||
Total operating lease liabilities | $ | 5,785 | $ | 6,214 | |||||
The following table summarizes the maturity of undiscounted payments due under operating lease liabilities and the present value of those liabilities as of December 31, 2025 (in thousands):
2026 | $ | 967 | |
2027 | 996 | ||
2028 | 1,026 | ||
2029 | 1,057 | ||
Thereafter | 3,851 | ||
Total | 7,897 | ||
Less: Present value adjustment | (2,112) | ||
Present value of lease liabilities | $ | 5,785 |
The following table summarizes the weighted-average lease term and weighted-average discount rate as of December 31, 2025 and 2024:
Remaining lease term (years) | 2025 | 2024 | |||
Operating leases | 7.4 | 8.4 | |||
Discount rate | |||||
Operating leases | 8.5 | % | 8.5 | % | |
During the years ended December 31, 2025 and 2024, the Company made cash payments of $0.9 million for each period included in the measurement of its operating lease liabilities.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 2, 2026 | Showing above |
| 2024 | Mar 3, 2025 | |
| 2023 | Mar 1, 2024 | |
| 2022 | Mar 16, 2023 | |
| 2021 | Mar 1, 2022 | |
| 2020 | Mar 5, 2021 | |
| 2019 | Mar 16, 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.