|
The Company has noncancelable operating leases for facilities and equipment expiring at various dates through 2025 and thereafter.
The components of lease expense are as follows:
|
|
|
Three Months Ended
July 31, 2020
|
|
|
Six Months Ended
July 31, 2020
|
|
|
|
|
(Amounts in thousands)
|
|
|
Operating lease cost
|
|
$
|
306
|
|
|
$
|
628
|
|
|
Short term lease cost
|
|
|
9
|
|
|
|
40
|
|
|
Total lease cost
|
|
$
|
315
|
|
|
$
|
668
|
|
Supplemental cash flow information related to the Company’s operating leases was as follows:
|
|
|
Three Months Ended
July 31, 2020
|
|
|
Six Months Ended
July 31, 2020
|
|
|
|
|
(Amounts in thousands)
|
|
|
Cash paid for amounts included in the measurement of lease liabilities
|
|
|
|
|
|
|
|
|
|
Operating cash flows from operating leases
|
|
$
|
244
|
|
|
$
|
566
|
|
Supplemental balance sheet information related to the Company's operating leases was as follows:
|
|
|
July 31, 2020
|
|
|
January 31, 2020
|
|
|
|
|
(Amounts in thousands)
|
|
|
Operating lease right-of-use assets
|
|
$
|
5,505
|
|
|
$
|
4,860
|
|
|
|
|
|
|
|
|
|
|
|
|
Current portion, operating lease liabilities
|
|
|
1,295
|
|
|
|
722
|
|
|
Operating lease liabilities, long term
|
|
|
4,607
|
|
|
|
4,348
|
|
|
Total operating lease liabilities
|
|
$
|
5,902
|
|
|
$
|
5,070
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average remaining lease term (years)
|
|
|
4.5
|
|
|
|
|
|
|
Weighted average incremental borrowing rate
|
|
|
5.0
|
%
|
|
|
|
|
The current portion, operating lease liabilities is included in the balance of accrued expenses at July 31, 2020. Rent payments for continuing operations were approximately $0.3 million for the three months ended July 31, 2020 and $0.7 million for the six months ended July 31, 2020. Future minimum lease payments for operating leases, with initial or remaining terms in excess of one year at July 31, 2020, are as follows:
|
|
|
Payments for
Operating Leases
|
|
|
For the fiscal years ended January 31,
|
|
(Amounts in thousands)
|
|
|
2021
|
|
$
|
552
|
|
|
2022
|
|
|
1,213
|
|
|
2023
|
|
|
1,337
|
|
|
2024
|
|
|
1,373
|
|
|
2025
|
|
|
1,413
|
|
|
Thereafter
|
|
|
59
|
|
|
Total lease payments
|
|
|
5,947
|
|
|
Less interest
|
|
|
45
|
|
|
Total operating lease liabilities
|
|
$
|
5,902
|
|
|