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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:
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For the Three Months Ended April 30, |
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2023 |
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|
2022 |
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|
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(Amounts in thousands) |
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Operating lease cost |
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$ |
110 |
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|
$ |
143 |
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Short-term lease cost, net |
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|
3 |
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|
|
4 |
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Total lease cost |
|
$ |
113 |
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|
$ |
147 |
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Supplemental balance sheet information related to the Company’s operating leases was as follows:
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As of April 30, 2023 |
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As of January 31, 2023 |
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(Amounts in thousands) |
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Operating lease right-of-use assets |
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$ |
1,215 |
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|
$ |
1,360 |
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|
|
|
|
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Current portion, operating lease liabilities |
|
|
726 |
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|
|
713 |
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Operating lease liabilities, long term |
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|
489 |
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|
|
691 |
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Total operating lease liabilities |
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$ |
1,215 |
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|
$ |
1,404 |
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Weighted average remaining lease term (years) |
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|
1.8 |
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|
2.0 |
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Weighted average incremental borrowing rate |
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|
5.0 |
% |
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5.0 |
% |
Supplemental cash flow information related to the Company’s leases was as follows:
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For the Three Months Ended April 30, |
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2023 |
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2022 |
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(Amounts in thousands) |
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Cash paid for amounts included in the
measurement of lease liabilities |
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|
|
|
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Operating cash flows from operating leases |
|
$ |
110 |
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|
$ |
143 |
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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 April 30, 2023 are as follows:
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Payments for
Operating Leases |
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For the Fiscal Years Ended January 31, |
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(Amounts in thousands) |
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2024 |
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$ |
557 |
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2025 |
|
|
765 |
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Total lease payments |
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|
1,322 |
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Less interest |
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|
107 |
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Total operating lease liabilities |
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$ |
1,215 |
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