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LEASES (Tables)
9 Months Ended
Nov. 30, 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):

 

 

 

November 30, 2022

 

 

February 28, 2022

 

Assets

 

 

 

 

 

 

 

 

Operating lease right-of-use assets

 

$

12,974

 

 

$

12,327

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

Operating lease liabilities (current)

 

$

4,792

 

 

$

5,086

 

Operating lease liabilities (non-current)

 

 

13,414

 

 

 

13,382

 

Total lease liabilities

 

$

18,206

 

 

$

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 November 30,

 

 

Nine Months Ended November 30,

 

 

2022

 

 

 

 

2021

 

 

2022

 

 

 

 

2021

 

Operating lease cost

$

1,075

 

 

 

 

$

1,209

 

 

$

3,269

 

 

 

 

$

3,497

 

Short-term lease cost

 

41

 

 

 

 

 

15

 

 

 

114

 

 

 

 

 

46

 

Variable lease cost

 

36

 

 

 

 

 

121

 

 

 

87

 

 

 

 

 

324

 

Total lease cost

$

1,152

 

 

 

 

$

1,345

 

 

$

3,470

 

 

 

 

$

3,867

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of Supplemental Information Related to Operating Leases

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

 

 

 

Nine Months Ended

 

 

 

November 30,

 

 

 

2022

 

 

 

 

2021

 

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

 

$

4,180

 

 

 

 

$

4,396

 

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

 

$

3,341

 

 

 

 

$

2,014

 

Weighted average remaining lease term

 

4.20 years

 

 

 

 

4.25 years

 

Weighted average discount rate

 

 

5.23

%

 

 

 

 

5.18

%

 

 

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 November 30, 2022 (in thousands):

 

Remainder of 2023

 

$

1,392

 

2024

 

 

5,573

 

2025

 

 

4,718

 

2026

 

 

3,941

 

2027

 

 

2,199

 

Thereafter

 

 

2,411

 

Total minimum lease payments

 

 

20,234

 

Less imputed interest

 

 

(2,028

)

Present value of future minimum lease payments

 

 

18,206

 

Less current obligations under leases

 

 

(4,792

)

Long-term lease obligations

 

$

13,414