Leases

12 Months Ended

Apr. 30, 2020

The Company’s operating leases are primarily related to facility leases for administration and sales personnel. The operating leases have terms ranging from three to five years. While each of the leases includes renewal options, the Company has only included the base lease term in its calculation of lease assets and liabilities. The Company does not have any finance leases.

Balance sheet information related to operating leases is as follows (in thousands):



	April 30, 2020
Assets
Right of use assets	$	2,053

Liabilities
Current lease liabilities	763
Long-term lease liabilities	1,424
Total liabilities	$	2,187

Lease cost information related to operating leases is as follows (in thousands):



	Year ended April 30, 2020
Lease cost
Operating lease cost	$	770
Short-term lease cost	643
Variable lease cost	225
Total lease cost	$	1,638

Lease costs are primarily included in "Sales and marketing" and "General and administrative" expenses in the Company’s consolidated statements of operations.

The impact of the Company's leases on consolidated statement of cash flows is presented in the operating activities section, which mainly consisted of cash paid for operating lease liabilities of approximately $1.3 million during fiscal 2020. The Company did not modify any existing leases or execute any new leases during fiscal 2020.

Weighted average information associated with the measurement of the Company’s remaining operating lease obligations is as follows:



	April 30, 2020
Weighted average remaining lease term	3.3 years
Weighted average discount rate	3.5	%

The following table summarizes the maturity of the Company’s operating lease liabilities as of April 30, 2020 (in thousands):



Years ended April 30:
2021	$	775
2022	702
2023	470
2024	346
2025	20
Thereafter	—
Total operating lease payments	$	2,313
Less imputed interest	(126		)
Total operating lease liabilities	$	2,187

Future minimum lease payments, as defined under the previous lease accounting guidance of ASC Topic 840, under noncancelable operating leases (due to existence of renewal or escalation clauses) with initial or remaining lease terms in excess of one year as of April 30, 2019 are as follows (in thousands):



Years ended April 30:
2020	$	847
2021	790
2022	706
2023	433
2024	317
Thereafter	17
	$	3,110

The Company leases to other tenants a portion of its headquarters building that it owns in Atlanta, Georgia. The leases expire at various dates through March 2025. Lease income is included in "Other, net" in the Company’s consolidated statements of operations and totaled approximately $0.2 million for the year ending April 30, 2020. Lease payments to be received as of April 30, 2020 are as follows (in thousands):



Years ended April 30:
2021	$	165
2022	149
2023	96
2024	98
2025	100
Thereafter	50
	$	658

Future minimum lease rentals receivable under noncancelable, as defined under the previous lease accounting guidance of ASC Topic 840, operating leases (with initial or remaining lease terms in excess of one year) as of April 30, 2019 are as follows (already included or prorated at the Company’s occupied building) (in thousands):



Years ended April 30:
2020	$	194
2021	105
2022	55
2023	—
2024	—
Thereafter	—
	$	354

Leases

Balance sheet information related to operating leases is as follows (in thousands):



	April 30, 2020
Assets
Right of use assets	$	2,053

Liabilities
Current lease liabilities	763
Long-term lease liabilities	1,424
Total liabilities	$	2,187

Lease cost information related to operating leases is as follows (in thousands):



	Year ended April 30, 2020
Lease cost
Operating lease cost	$	770
Short-term lease cost	643
Variable lease cost	225
Total lease cost	$	1,638

Lease costs are primarily included in "Sales and marketing" and "General and administrative" expenses in the Company’s consolidated statements of operations.

Weighted average information associated with the measurement of the Company’s remaining operating lease obligations is as follows:



	April 30, 2020
Weighted average remaining lease term	3.3 years
Weighted average discount rate	3.5	%

The following table summarizes the maturity of the Company’s operating lease liabilities as of April 30, 2020 (in thousands):



Years ended April 30:
2021	$	775
2022	702
2023	470
2024	346
2025	20
Thereafter	—
Total operating lease payments	$	2,313
Less imputed interest	(126		)
Total operating lease liabilities	$	2,187



Years ended April 30:
2020	$	847
2021	790
2022	706
2023	433
2024	317
Thereafter	17
	$	3,110



Years ended April 30:
2021	$	165
2022	149
2023	96
2024	98
2025	100
Thereafter	50
	$	658



Years ended April 30:
2020	$	194
2021	105
2022	55
2023	—
2024	—
Thereafter	—
	$	354