Leases (Tables)
|
12 Months Ended |
Mar. 31, 2023 |
|---|
| Leases |
|
| Schedule of Company's minimum rental revenue to be received under operating leases |
At March 31, 2023, the Company’s minimum rental revenue to be received under operating leases were as follows (in thousands):
|
|
|
|
|
|
|
Operating |
|
Year Ending March 31, |
|
Leases |
|
2024 |
|
$ |
1,756 |
|
2025 |
|
|
1,756 |
|
2026 |
|
|
466 |
|
2027 |
|
|
— |
|
2028 |
|
|
— |
|
Thereafter |
|
|
— |
|
Total minimum rental revenue |
|
$ |
3,978 |
|
|
| Schedule of operating leases |
|
|
|
|
|
|
|
|
|
Year Ended March 31, |
|
|
2023 |
|
2022 |
Finance lease costs (1) |
|
$ |
697 |
|
$ |
80 |
Operating lease costs |
|
|
2,291 |
|
|
1,157 |
Total lease costs |
|
$ |
2,988 |
|
$ |
1,237 |
| (1) |
Interest expense is included in finance lease costs.
|
|
| Schedule of supplemental information related to the leases |
Supplemental balance sheet information related to the leases was as follows (in thousands):
|
|
|
|
|
|
|
March 31, 2023 |
|
March 31, 2022 |
Finance lease right-of-use assets |
$ |
4,529 |
|
$ |
246 |
Operating lease right-of-use assets |
|
8,808 |
|
|
5,959 |
Total right-of-use assets |
$ |
13,337 |
|
$ |
6,205 |
|
|
|
|
|
|
Finance lease liability, current |
$ |
773 |
|
$ |
89 |
Operating lease liability, current |
|
2,492 |
|
|
586 |
Finance lease liability, non-current |
|
2,903 |
|
|
190 |
Operating lease liability, non-current |
|
6,588 |
|
|
5,619 |
Total lease liabilities |
$ |
12,756 |
|
$ |
6,484 |
|
|
|
|
|
|
Finance leases: |
|
|
|
|
|
Weighted average remaining lease life |
|
2.27 years |
|
|
3.49 years |
Weighted average discount rate |
|
13.00% |
|
|
5.00% |
Operating leases: |
|
|
|
|
|
Weighted average remaining lease life |
|
4.86 years |
|
|
8.35 years |
Weighted average discount rate |
|
12.00% |
|
|
12.00% |
Supplemental cash flow information related to the leases was as follows (in thousands):
|
|
|
|
|
|
|
Year Ended March 31, |
|
2023 |
|
2022 |
Cash paid for amounts included in the measurement of lease liabilities |
|
|
|
Financing cash flows from finance leases |
$ |
803 |
|
$ |
92 |
Operating cash flows from finance leases |
$ |
45 |
|
$ |
17 |
Operating cash flows from operating leases |
$ |
2,258 |
|
$ |
1,106 |
Right-of-use assets obtained in exchange for lease obligations |
|
|
|
|
|
Finance leases |
$ |
3,991 |
|
$ |
— |
Operating leases |
$ |
4,179 |
|
$ |
1,877 |
|
| Schedule of Company's minimum commitments under non-cancelable operating and finance leases |
At March 31, 2023, the Company’s minimum commitments under non-cancelable operating and finance leases were as follows (in thousands):
|
|
|
|
|
|
|
|
|
Finance |
|
Operating |
Year Ending March 31, |
|
Leases |
|
Leases |
2024 |
|
$ |
1,017 |
|
$ |
3,477 |
2025 |
|
|
1,017 |
|
|
3,424 |
2026 |
|
|
1,963 |
|
|
2,412 |
2027 |
|
|
— |
|
|
255 |
2028 |
|
|
— |
|
|
256 |
Thereafter |
|
|
— |
|
|
2,138 |
Total lease payments |
|
$ |
3,997 |
|
$ |
11,962 |
Less: imputed interest |
|
|
(321) |
|
|
(2,882) |
Present value of lease liabilities |
|
$ |
3,676 |
|
$ |
9,080 |
|