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LEASES (Tables)
6 Months Ended
Aug. 31, 2022
Leases [Abstract]  
Summary of Lease-related Assets and Liabilities

The table below presents lease-related assets and liabilities recorded on the condensed consolidated balance sheet (in thousands):

 

 

 

August 31, 2022

 

 

February 28, 2022

 

Assets

 

 

 

 

 

 

 

 

Operating lease right-of-use assets

 

$

10,367

 

 

$

12,327

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

Operating lease liabilities (current)

 

$

5,038

 

 

$

5,086

 

Operating lease liabilities (non-current)

 

 

10,717

 

 

 

13,382

 

Total lease liabilities

 

$

15,755

 

 

$

18,468

 

 

 

 

 

 

 

 

 

 

Summary of Lease Costs Included in Condensed Consolidated Statements of Comprehensive Loss

The following lease costs were included in our condensed consolidated statements of comprehensive loss as follows (in thousands):

 

 

Three months ended August 31,

 

 

Six Months Ended August 31,

 

 

2022

 

 

 

 

2021

 

 

2022

 

 

 

 

2021

 

Operating lease cost

$

1,075

 

 

 

 

$

1,157

 

 

$

2,194

 

 

 

 

$

2,288

 

Short-term lease cost

 

37

 

 

 

 

 

14

 

 

 

73

 

 

 

 

 

31

 

Variable lease cost

 

16

 

 

 

 

 

101

 

 

 

51

 

 

 

 

 

203

 

Total lease cost

$

1,128

 

 

 

 

$

1,272

 

 

$

2,318

 

 

 

 

$

2,522

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of Supplemental Information Related to Operating Leases

The table below presents supplemental information related to operating leases (in thousands, except weighted-average information):

 

 

 

Six Months Ended

 

 

 

August 31,

 

 

 

2022

 

2021

 

Cash paid for amounts included in the measurement of operating lease liabilities

 

$

2,943

 

$

2,835

 

Right-of-use assets obtained in exchange for new operating lease liabilities

 

$

34

 

$

1,919

 

Weighted average remaining lease term

 

3.5 years

 

4.44 years

 

Weighted average discount rate

 

5.16%

 

 

5.17

%

 

 

Schedule of Reconciles the Undiscounted Cash Flows for Operating Lease Liabilities

The table below reconciles the undiscounted cash flows for each of the first five fiscal years and total of the remaining years to the operating lease liabilities recorded on the condensed consolidated balance sheet as of August 31, 2022 (in thousands):

 

Remainder of 2023

 

$

2,920

 

2024

 

 

5,539

 

2025

 

 

3,941

 

2026

 

 

3,077

 

2027

 

 

1,322

 

Thereafter

 

 

477

 

Total minimum lease payments

 

 

17,276

 

Less imputed interest

 

 

(1,521

)

Present value of future minimum lease payments

 

 

15,755

 

Less current obligations under leases

 

 

(5,038

)

Long-term lease obligations

 

$

10,717