Leases

9 Months Ended

Jan. 31, 2021

Leases [Abstract]

Leases

Leases

The Company’s operating leases are primarily related to facility leases for administration and sales. 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):

	January 31, 2021
Assets
Right of use assets	$	1,635
Liabilities
Current lease liabilities	774
Long-term lease liabilities	975
Total liabilities	$	1,749

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

	Three Months Ended January 31, 2021		Nine Months Ended January 31, 2021
Lease cost
Operating lease cost	$	195	$	586
Short-term lease cost	126		445
Variable lease cost	70		215
Total lease cost	$	391	$	1,246

Lease costs are primarily included in "Sales and marketing" and "General and administrative" expenses in the Company’s Condensed Consolidated Statements of Operations.

The impact of the Company's leases on Condensed 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 the nine months ended January 31, 2021. During the third quarter, the Company did not have new lease agreements executed.

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

	January 31, 2021
Weighted average remaining lease term	2.6 years
Weighted average discount rate	3.3	%

The following table summarizes the maturity of the Company’s operating lease liabilities as of January 31, 2021 (in thousands):

FY2021	$	220
FY2022	711
FY2023	486
FY2024	361
FY2025	20
Thereafter	—
Total operating lease payments	$	1,798
Less imputed interest	(49)
Total operating lease liabilities	$	1,749

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 October 2025. Lease income is included in "Other, net" in the Company’s Condensed Consolidated Statements of Operations and totaled approximately $106,000 and $255,000 for the three and nine months ended January 31, 2021, respectively. Lease payments to be received as of January 31, 2021 are as follows (in thousands):

FY2021	$	42
FY2022	149
FY2023	96
FY2024	98
FY2025	100
Thereafter	50
Total	$	535

Leases

Leases

The Company’s operating leases are primarily related to facility leases for administration and sales. 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):

	January 31, 2021
Assets
Right of use assets	$	1,635
Liabilities
Current lease liabilities	774
Long-term lease liabilities	975
Total liabilities	$	1,749

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

	Three Months Ended January 31, 2021		Nine Months Ended January 31, 2021
Lease cost
Operating lease cost	$	195	$	586
Short-term lease cost	126		445
Variable lease cost	70		215
Total lease cost	$	391	$	1,246

Lease costs are primarily included in "Sales and marketing" and "General and administrative" expenses in the Company’s Condensed Consolidated Statements of Operations.

The impact of the Company's leases on Condensed 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 the nine months ended January 31, 2021. During the third quarter, the Company did not have new lease agreements executed.

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

	January 31, 2021
Weighted average remaining lease term	2.6 years
Weighted average discount rate	3.3	%

The following table summarizes the maturity of the Company’s operating lease liabilities as of January 31, 2021 (in thousands):

FY2021	$	220
FY2022	711
FY2023	486
FY2024	361
FY2025	20
Thereafter	—
Total operating lease payments	$	1,798
Less imputed interest	(49)
Total operating lease liabilities	$	1,749

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 October 2025. Lease income is included in "Other, net" in the Company’s Condensed Consolidated Statements of Operations and totaled approximately $106,000 and $255,000 for the three and nine months ended January 31, 2021, respectively. Lease payments to be received as of January 31, 2021 are as follows (in thousands):

FY2021	$	42
FY2022	149
FY2023	96
FY2024	98
FY2025	100
Thereafter	50
Total	$	535