SeaChange International, Inc. Quarterly report pursuant to Section 13 or 15(d)

Operating Leases (Tables)

6 Months Ended

Jul. 31, 2021

The components of lease expense are as follows:

	For the Three Months Ended July 31, 2021		For the Six Months Ended July 31, 2021
	(Amounts in thousands)
Operating lease cost	$	178	$	461
Short term lease cost, net		4		8
Total lease cost	$	182	$	469

Supplemental cash flow information related to the Company’s operating leases was as follows:

	For the Three Months Ended July 31,				For the Six Months Ended July 31,
	2021		2020		2021		2020
	(Amounts in thousands)				(Amounts in thousands)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	223	$	244	$	733	$	566

Supplemental balance sheet information related to the Company's operating leases was as follows:

	As of July 31, 2021			As of January 31, 2021
	(Amounts in thousands)
Operating lease right-of-use assets	$	2,504		$	4,968

Current portion, operating lease liabilities		835			1,387
Operating lease liabilities, long term		1,797			4,070
Total operating lease liabilities	$	2,632		$	5,457

Weighted average remaining lease term (years)		3.4			4.0
Weighted average incremental borrowing rate		5.0	%		5.0	%

Future minimum lease payments for operating leases, with initial or remaining terms in excess of one year at July 31, 2021, are as follows:

	Payments for Operating Leases
For the Fiscal Years Ended January 31,	(Amounts in thousands)
2022	$	435
2023		809
2024		798
2025		823
Total lease payments		2,865
Less interest		233
Total operating lease liabilities	$	2,632