Leases

9 Months Ended

Sep. 30, 2025

Note 7 — Leases

The Company’s future lease payments as of September 30, 2025, which are presented as operating lease liabilities, current portion and operating lease liabilities, less current portion on the Company’s unaudited condensed consolidated balance sheets are as follows:


2025 (remainder of year)	$	178
2026		724
2027		594
2028		471
2029		481
Thereafter		367
Total lease payments	$	2,815
Less: imputed interest		(435	)
Present value of lease liabilities	$	2,380

Supplemental disclosure of cash flow information related to the Company’s cash and non-cash activities with its leases are as follows:

	2025			2024
	Nine Months Ended September 30,
	2025			2024
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	530		$	1,407
Non-cash investing and financing activities
Right-of-use assets obtained in exchange for new operating lease liabilities	$	—		$	—
Weighted-average remaining lease term - operating leases (in years)		4.40			5.25
Weighted-average discount rate - operating leases		7.875	%		7.875	%

As of September 30, 2025 and December 31, 2024, the Company’s right-of-use assets from operating leases were $2,131 and $2,500, respectively, which are reported in operating lease right-of-use assets in the unaudited condensed consolidated balance sheets. As of September 30, 2025 and December 31, 2024, the Company had outstanding operating lease obligations of $2,380 and $2,760, respectively, of which $557 and $513, respectively, are reported in operating lease liabilities, current portion and $1,823 and $2,247, respectively, are reported in operating lease liabilities less current portion in the Company’s unaudited condensed consolidated balance sheets. The Company calculates its incremental borrowing rates for specific lease terms, as a function of the financing terms the Company would likely receive on the open market.

PAVmed Inc. 10-Q