Leases

3 Months Ended

May 31, 2022

Leases

Leases

(6)   Leases

The Company adopted Topic 842 on February 28, 2022, with an effective date of adoption of March 1, 2021, using the modified retrospective approach. The Company has operating leases for offices and certain equipment under non-cancelable leases in the United States and Czech Republic. These leases have remaining terms of up to 8 years. The Company had no finance leases during the three months ended May 31, 2022.

The components of operating lease cost recorded in the consolidated statements of operations were as follows:

	Three Months Ended May 31,
		2022		2021
Operating lease cost		1,949	$	1,760
Variable lease cost		430		344
Total lease cost		2,379	$	2,104

The following tables set forth the cash flows, weighted-average remaining term, and weighted-average discount rate for the Company’s leases:

	Three Months Ended May 31,
Cash Flow Information	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,128	$	2,036
Right-of-use assets obtained in exchange for lease obligations
Operating leases	$	2,155	$	2,367

Supplemental Information	May 31, 2022
Weighted-average remaining lease term (years)	5.8
Weighted-average discount rate	4.9	%

As of May 31, 2022, the future minimum lease payments under non-cancelable operating leases were as follows:

Year Ending February 28(29),
Remainder of 2023	$	6,667
2024		8,860
2025		7,281
2026		7,248
2027		6,318
Thereafter		9,405
Total lease payments		45,779
Less: Imputed interest		(6,221)
Total lease liabilities	$	39,558