|9 Months Ended|
Oct. 31, 2022
The Company has operating leases for facilities expiring at various dates through 2025.
The components of lease expense included in the condensed consolidated statements of operations and comprehensive loss are as follows:
Supplemental balance sheet information related to the Company’s operating leases was as follows:
Supplemental cash flow information related to the Company’s leases was as follows:
The current portion, operating lease liabilities is included as a component of accrued expenses in the condensed consolidated balance sheets.
Future minimum lease payments for operating leases, with initial or remaining terms in excess of one year as of October 31, 2022 are as follows:
In the first nine months of fiscal 2022, the Company entered into a sublease termination agreement (the “Lease Termination Agreement”) with respect to its former headquarters in Waltham, Massachusetts. In connection to the Lease Termination Agreement, the Company agreed to pay the sublandlord a total of $0.4 million in termination payments for the nine months ended October 31, 2021. The Company also wrote off all related operating lease right-of-use assets and liabilities as of the termination date, resulting in a $0.3 million non-cash gain, which partially offset the loss on termination payments. The net $0.1 million loss on lease termination is reported as a component of severance and restructuring expense on the condensed consolidated statements of operations and comprehensive loss for the nine months ended October 31, 2021. Prior to the execution of the Lease Termination Agreement, the sublease had been scheduled to expire in February 2025.
The Company has entered into four operating sublease agreements (collectively, the “Subleases”) with respect to part of its existing Poland facility lease (the “Head Lease”), two in fiscal 2022 and two in fiscal 2023. The Company accounted for the Head Lease and the Subleases as separate contracts and there was no effect on the right-of-use asset or lease liability associated with the Head Lease. One of the Subleases entered into fiscal 2022 ended during the three months ended October 31, 2022. The remaining Subleases entered into fiscal 2022 and 2023 have effective dates ranging from less than one year to more than two years from October 31, 2022, respectively. The Head Lease rent expense is presented net of income related to the Subleases and reported as a component of operating expenses on the condensed consolidated statements of operations and comprehensive loss. The Company recorded $66 thousand and $170 thousand of income related to the Subleases for the three and nine months ended October 31, 2022, respectively, and $32 thousand of sublease income for the three and nine months ended October 31, 2021.
The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef