Company: WLTH
Filing Date: 2025-12-11
Form Type: S-1/A
Source: 0001628280-25-056439
Chunk: 417

Company: WEALTHFRONT CORP
Filing Date: 2025-12-11
Form: S-1/A
Chunk 417
---
 Leases
The Company has three noncancelable operating leases for its offices, one of which has a lease term that expired in May 2025 and was not renewed. The second one has a lease term expiring in June 2028 and includes free rent periods and escalating rent payment provisions. The third lease commenced in May 2025 with free rent periods. All leases require the Company to pay annual operating, tax or utilities expenses, which are included in the variable lease costs. The Company utilizes its incremental borrowing rate in determining the present value of lease payments, as the implicit rate is not readily determinable.

The components of lease cost for operating leases for the three and six months ended July 31, 2024 and 2025 were as follows ( in thousands ):

|                      |     | 2024 | Three Months Ended July 31, |     | 2025 |       |     | 2024 | Six Months Ended July 31, |     | 2025 |       |
|:---------------------|:----|:-----|----------------------------:|:----|:-----|------:|:----|:-----|--------------------------:|:----|:-----|------:|
| Operating lease cost |     | $    |                         965 |     | $    |   979 |     | $    |                     1,939 |     | $    | 1,944 |
| Variable lease cost  |     |      |                         280 |     |      |   363 |     |      |                       462 |     |      |   616 |
| Total lease cost     |     | $    |                       1,245 |     | $    | 1,342 |     | $    |                     2,401 |     | $    | 2,560 |

Supplemental cash flow information related to leases was as follows ( in thousands ):

| Cash paid for amounts included in the measurement of lease liabilities: |     | Six Months Ended July 31, 
 2024                      |       |     | 2025 |       |
|:------------------------------------------------------------------------|:----|:--------------------------|------:|:----|:-----|------:|
| Payments for operating leases                                           |     | $                         | 2,091 |     | $    | 2,119 |

The following table summarizes the lease-related assets and liabilities recorded in the c ondensed c onsolidated balance sheet at January 31, 202