Silvaco Group, Inc.SVCO

Silvaco Group, Inc. Leases Disclosure

10-KFiled Mar 5, 20252 min read
Leases
The Company’s headquarters are located in Santa Clara, California, where the Company has an operating lease covering its corporate office expiring in March of 2025. The Company also has operating leases in Duluth, Georgia, and abroad, in Japan, France, China, the United Kingdom, Taiwan, Singapore, and Korea, among other countries. The expiration dates for these operating leases range from 2025 through 2029.
The components of operating lease cost were as follows:
Year Ended December 31,
20242023
(in thousands)
Operating lease cost$940 $1,003 
Variable lease cost (1)
168 223 
Total operating lease cost$1,108 $1,226 
(1)Variable lease cost includes common area maintenance, utilities, security, insurance and property taxes.
Additional information related to the Company’s operating leases for the years ended December 31, 2024 and 2023 was as follows:
Year Ended December 31,
20242023
(in thousands)
Cash paid for operating lease liabilities$930 $1,028 
Right-of use assets obtained in exchange for operating lease liabilities$607 $452 
December 31,
20242023
Weighted average remaining lease term (in years)3.414.09
Weighted average discount rate3.00 %3.84 %
As of December 31, 2024, maturities of operating lease liabilities were as follows:
Year Ending December 31, Amount
(in thousands)
2025$752 
2026413 
2027233 
2028194 
2029194 
Total lease payments$1,786 
Less: imputed interest(96)
Total operating lease liabilities$1,690 
Current portion of lease liability
744 
Non-current portion of lease liability
$946 
Rent expense was $1.2 million in each of the years ended December 31, 2024 and 2023.
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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.

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