XML 25 R16.htm IDEA: XBRL DOCUMENT

Leases

6 Months Ended

Jul. 31, 2023

7. Leases

The Company enters into various operating leases for its worldwide facilities. The operating lease expense was approximately $0.9 million and $0.9 million for the three months ended July 31, 2023 and 2022, respectively, and was approximately $1.8 million and $1.8 million for the six months ended July 31, 2023 and 2022, respectively. The Company's short-term leases and finance leases were not material as of July 31, 2023 and January 31, 2023, respectively.

Supplemental cash flow information related to the operating leases is as follows:


	Three Months Ended		Six Months Ended
	July 31, 2023		July 31, 2023
	(in thousands)
Cash paid for operating leases included in operating cash flows	$	1,025	$	1,993
Supplemental non-cash information related to lease liabilities arising from obtaining right-of-use assets		58		120

As of July 31, 2023, the weighted average remaining lease term is 2.17 years, and the weighted average discount rate is 3.61 percent. Future minimum lease payments for the lease liabilities are as follows:


	As of
	July 31, 2023
Fiscal Year	(in thousands)
2024 (6 months remaining)	$	1,849
2025		3,363
2026		1,367
2027		293
2028		115
Thereafter		—
Total future annual minimum lease payments		6,987
Less: interest		(223	)
Total lease liabilities	$	6,764