Sonoma Pharmaceuticals, Inc. Leases Disclosure
NOTE 10 – Leases
The Company’s operating leases are comprised primarily of facility leases. Balance sheet information related to the Company’s leases is presented below:
| March 31, | March 31, | |||||||
| 2026 | 2025 | |||||||
| Operating leases: | ||||||||
| Operating lease right-of-use assets | $ | 602,000 | $ | 84,000 | ||||
| Operating lease liabilities – current | 151,000 | 58,000 | ||||||
| Operating lease liabilities – non-current | 469,000 | 27,000 | ||||||
Other information related to leases is presented below:
Year ended March 31, 2026 | Year ended March 31, 2025 | |||||||
| Lease cost | ||||||||
| Operating lease cost | $ | 388,000 | $ | 365,000 | ||||
| Other information: | ||||||||
| Operating cash flows from operating leases | $ | (515,000 | ) | $ | (174,000 | ) | ||
| Weighted-average remaining lease term – operating leases (in months) | 43.5 | 18.6 | ||||||
| Weighted-average discount rate – operating leases | 10.7% | 6% | ||||||
As of March 31, 2026, the annual future minimum lease payments of the Company’s operating lease liabilities were as follows:
| For Years Ending March 31, | ||||
| 2027 | $ | 210,000 | ||
| 2028 | 207,000 | |||
| 2029 | 169,000 | |||
| 2030 | 161,000 | |||
| 2031 | 13,000 | |||
| Total future minimum lease payments, undiscounted | 760,000 | |||
| Less: imputed interest | (140,000 | ) | ||
| Total lease liability | $ | 620,000 | ||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Jun 16, 2026 | Showing above |
| 2025 | Jun 17, 2025 | |
| 2024 | Jun 17, 2024 | |
| 2023 | Jun 21, 2023 | |
| 2022 | Jul 13, 2022 | |
| 2020 | Jul 10, 2020 | |
| 2019 | Jul 1, 2019 | |
| 2018 | Jun 26, 2018 | |
| 2017 | Jun 28, 2017 | |
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.