NATURAL GAS SERVICES GROUP INC
For the period ended Dec 31, 2025. Filed Mar 16, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 16, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
. Leases
- Leases
Our operating leases are primarily related to property leases for administrative and field offices, storage facilities, temporary housing and office equipment. Our operating leases have remaining lease terms ofone toseven years. Renewal and termination options are included in the lease term when it is reasonably certain that we will exercise the option. Our finance leases were primarily related to vehicles used in our rental business; however, we terminated all such leases during 2024 and purchased the vehicles and recorded them in property and equipment. Prior to their termination, our finance leases generally had lease terms ofthree years. Our lease agreements do not contain any contingent rental payments, material residual guarantees or material restrictive covenants.
F - 14
The following table reflects the amounts related to leases that are recorded on our Consolidated Balance Sheets as of the dates presented:
| Classification on Consolidated · December 31, | ||||
|---|---|---|---|---|
| Description · Balance Sheets · 2025 · 2024 | ||||
| Operating lease assets | Other assets | $2,373 | $607 | |
| Current operating lease liabilities | Accrued liabilities | $462 | $153 | |
| Noncurrent operating lease liabilities | Other long-term liabilities | 1,911 | 454 | |
| Total lease liabilities | $2,373 | $607 | ||
| Weighted average remaining lease term (in years) | 4.9 | 3.8 | ||
| Weighted average discount rate | 7.4% | 8.3% | ||
Operating lease costs are recognized on a straight-line basis over the lease term. Total operating lease costs for the years ended December 31, 2025,2024 and 2023 were approximately$1.0 million, $0.7 million and $0.5 million, respectively.
The following table summarizes the cash paid for amounts included in the measurement of liabilities included in our Consolidated Statements of Cash Flows for the periods presented:
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Operating lease cost (1) (2) | $1,010 | $712 | $485 |
| Finance lease cost (3) | $— | $622 | $95 |
(1) Lease costs are classified in the Consolidated Statements of Operations within cost of revenues and selling, general and administrative expenses.
(2) Includes costs of $0.6 million, $0.1 million and $0.3 million for leases with terms of 12 months or less and $0.4 million, $0.6 million and $0.2 million for leases with terms greater than 12 months for the years ended December 31, 2025, 2024 and 2023, respectively.
(3) All finance leases were terminated during 2024.
The following summarizes the future maturities of our lease liabilities for the periods presented:
| Year Ending December 31, | |
|---|---|
| 2026 | $594 |
| 2027 | 573 |
| 2028 | 554 |
| 2029 | 455 |
| 2030 | 361 |
| Thereafter | 323 |
| Total lease payments | 2,860 |
| Less: Imputed interest | (487) |
| Total | $2,373 |
Rent expense under such leases was $0.4 million, $0.6 million and $0.2 million for the years ended December 31, 2025, 2024 and 2023, respectively.
F - 15
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.