Leases (Tables)

3 Months Ended

Jun. 30, 2020

Leases [Abstract]

Operating Lease Expense

The components of operating lease expense for the Company’s office space were as follows (in thousands):

	Three Months Ended June 30,
	2020		2019
Operating lease cost	$	729	$	519
Variable lease cost (1)	90		9
Total operating lease cost	$	819	$	528

⁽¹⁾ Variable lease cost includes common area maintenance and utilities costs which are not included in operating lease liabilities and which are expensed as incurred.

Certain information related to the Company’s operating lease right-of-use assets and operating lease liabilities for its Brisbane, California office space are as follows (in thousands):

	Three Months Ended June 30,
	2020		2019
Cash paid for operating lease liabilities	$	729	$	496
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities	$	—	$	9,181

Maturities of Operating Lease Liabilities

As of June 30, 2020, maturities of operating lease liabilities were as follows (in thousands):

Years Ended March 31,
2021 (remainder of year)	$	2,210
2022	3,028
2023	3,127
2024	3,053
2025	2,409
Thereafter	2,898
Total lease payments	16,725
Less imputed interest	(4,569)
Present value of future minimum lease payments	12,156
Less operating lease liability, current portion	(1,585)
Operating lease liability, long-term portion	$	10,571