Leases (Tables)

3 Months Ended

May 31, 2025

Leases [Abstract]

Lease, Cost

as of May 31, 2025 and February 28, 2025 (in thousands):

		As of
		May 31, 2025		February 28, 2025
Assets	Balance Sheet Classification
Operating right-of-use assets	Right-of-use assets	$	17,596	$	19,471
Finance right-of-use assets	Right-of-use assets	9,948		6,480
Liabilities
Operating lease liabilities ― short-term	Lease liability - short-term	6,089		6,373
Operating lease liabilities ― long-term	Lease liability - long-term	12,122		13,741
Finance lease liabilities ― short-term	Lease liability - short-term	2,115		1,376
Finance lease liabilities ― long-term	Lease liability - long-term	8,046		5,271

Supplemental information related to our leases was as follows (in thousands, except years and percentages):

	Three Months Ended May 31,
	2025		2024
Operating cash flows from operating leases included in lease liabilities	$	1,881	$	1,779
Lease liabilities obtained from new ROU assets - operating	16		217
Decrease in ROU assets related to lease terminations	(467)		—
Operating cash flows from finance leases included in lease liabilities	142		68
Financing cash flows from finance leases included in lease liabilities	434		196
Lease liabilities obtained from new ROU assets - finance leases	4,127		410

	As of
	May 31, 2025		February 28, 2025
Weighted-average remaining lease term - operating leases	3.61 years		3.79 years
Weighted-average discount rate - operating leases	5.07	%	5.06	%
Weighted-average remaining lease term - finance leases	4.38 years		4.57 years
Weighted-average discount rate - finance leases	6.90	%	6.86	%

The following table outlines the classification of lease expense related to operating and finance leases in the statements of operations (in thousands):

	Three Months Ended May 31,
	2025		2024
Operating lease expense:
Cost of sales	$	1,829	$	1,432
Selling, general and administrative	508		480
Total operating lease expense	2,337		1,912
Financing lease expense:
Cost of sales	487		223
Interest expense	142		68
Total financing lease expense	629		291
Variable lease expense:
Cost of sales	249		113
Total variable lease expense	249		113
Short-term lease expense:
Cost of sales	1,802		1,458
Selling, general and administrative	5		9
Total short-term lease expense	1,807		1,467
Total lease expense	$	5,022	$	3,783

Sublease income for the three months ended May 31, 2025 and 2024 was as follows (in thousands):

	Three Months Ended May 31,
	2025		2024
Sublease income	$	266	$	261

Lessee, Operating Lease, Liability, Maturity

As of May 31, 2025, maturities of our lease liabilities were as follows (in thousands):

Fiscal year:	Operating Leases		Finance Leases		Total
2026	$	5,206	$	2,051	$	7,257
2027	5,713		2,713		8,426
2028	3,766		2,618		6,384
2029	3,128		2,413		5,541
2030	1,207		1,741		2,948
2031	540		219		759
Thereafter	363		3		366
Total lease payments	19,923		11,758		31,681
Less imputed interest	(1,712)		(1,597)		(3,309)
Total	$	18,211	$	10,161	$	28,372

Finance Lease, Liability, Maturity

As of May 31, 2025, maturities of our lease liabilities were as follows (in thousands):

Fiscal year:	Operating Leases		Finance Leases		Total
2026	$	5,206	$	2,051	$	7,257
2027	5,713		2,713		8,426
2028	3,766		2,618		6,384
2029	3,128		2,413		5,541
2030	1,207		1,741		2,948
2031	540		219		759
Thereafter	363		3		366
Total lease payments	19,923		11,758		31,681
Less imputed interest	(1,712)		(1,597)		(3,309)
Total	$	18,211	$	10,161	$	28,372