XML 31 R21.htm IDEA: XBRL DOCUMENT

Leases (Tables)

3 Months Ended

Jun. 30, 2023

Weighted-average remaining lease term and incremental borrowing rate for the Company’s operating leases are as follows:


	Three months ended June 30,
	2023	2022
Weighted average term - operating lease liabilities	2.77 years	3.37 years
Weighted average incremental borrowing rate - operating lease liabilities	12%	13%

Lease Cost

The following table presents net lease cost for the three months ended June 30, 2023 and 2022 (in thousands):


	Three months ended June 30,
	2023		2022
Lease cost
Operating lease cost (cost resulting from lease payments)	$	507	$	449
Short term lease cost	—		4

Net lease cost	$	507	$	453

Supplemental Lease Information

The following table presents supplemental cash flow and non-cash activity information for the three months ended June 30, 2023 and 2022 (in thousands):


	Three months ended June 30,
	2023		2022
Cash paid activity:
Operating lease - operating cash flows (fixed payments)	$	574	$	543
Operating lease - operating cash flows (liability reduction)	$	388	$	327
Non-cash activity:
Right of use assets obtained in exchange for new operating lease liabilities	$	65	$	50

The following table presents supplemental balance sheet information as of June 30, 2023 and March 31, 2023 (in thousands):


	June 30, 2023		March 31, 2023
Non-current assets - right of use assets, net	$	3,088	$	3,371
Current liabilities - operating lease liabilities	$	1,662	$	1,725
Non-current liabilities - operating lease liabilities	$	2,597	$	2,922

Future Minimum Payments

Future minimum payments under existing non-cancelable leases for office and tower spaces (exclusive of real estate tax, utilities, maintenance and other costs borne by the Company) for the remaining terms of the leases following the three months ended June 30, 2023, are as follows (in thousands):


Fiscal Year	Operating Leases
2024 (excluding the three months ended June 30, 2023)	$	1,585
2025	1,715
2026	958
2027	536
2028	172
After 2028	38
Total future minimum lease payments	5,004
Amount representing interest	(745)
Present value of net future minimum lease payments	$	4,259