Leases

6 Months Ended

Jul. 28, 2024

The Company has operating leases for real estate, vehicles, and office equipment, which are accounted for in accordance with ASC 842, "Leases." Real estate leases are used to secure office space for the Company's administrative, engineering, production support and manufacturing activities. The Company's leases have remaining lease terms of up to approximately eight years, some of which include options to extend the leases for up to five years, and some of which include options to terminate the leases within one year.

The components of lease expense were as follows:


	Three Months Ended				Six Months Ended
(in thousands)	July 28, 2024		July 30, 2023		July 28, 2024		July 30, 2023
Operating lease cost	$	1,807	$	2,167	$	3,697	$	4,316
Short-term lease cost	19		484		163		1,093
Sublease income	(140)		(162)		(296)		(320)
Total lease cost	$	1,686	$	2,489	$	3,564	$	5,089

Supplemental cash flow information related to leases was as follows:


	Six Months Ended
(in thousands)	July 28, 2024		July 30, 2023
Cash paid for amounts included in the measurement of lease liabilities	$	4,035	$	4,280
Right-of-use assets obtained in exchange for new operating lease liabilities	$	2,428	$	2,696


	July 28, 2024
Weighted-average remaining lease term–operating leases (in years)	5.1
Weighted-average discount rate on remaining lease payments–operating leases	7.0	%

Supplemental balance sheet information related to leases was as follows:



(in thousands)	July 28, 2024		January 28, 2024
Operating lease right-of-use assets in "Other assets"	$	23,501	$	23,870

Operating lease liabilities in "Accrued liabilities"	$	6,599	$	6,560
Operating lease liabilities in "Other long-term liabilities"	20,692		22,033
Total operating lease liabilities	$	27,291	$	28,593

Maturities of lease liabilities as of July 28, 2024 are as follows:


(in thousands)
Fiscal Year Ending:
2025 (remaining six months)	$	4,560
2026	7,495
2027	5,603
2028	5,073
2029	4,193
Thereafter	5,966
Total lease payments	32,890
Less: imputed interest	(5,599)
Total	$	27,291