Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.20.2
Leases (Tables)
3 Months Ended
Jun. 30, 2020
Leases [Abstract]  
Lessee, Operating Lease, Liability, Maturity [Table Text Block]
Future minimum lease payments as of June 30, 2020, consisted of the following (in thousands):
Fiscal Year
 
Operating Leases
2021 (1)
 
$
335

2022
 
577

2023
 
577

2024
 
582

2025
 
593

Thereafter
 
268

Total lease payments
 
2,932

Less: imputed interest
 
(331
)
Total operating lease liabilities
 
$
2,601

_______
(1) Represents the future minimum operating lease payments expected to be made over the remaining balance of the fiscal year.
Lease, Cost [Table Text Block]
The components of lease expense are as follows:
(in thousands)
Three months ended June 30, 2020
 
Three months ended June 30, 2019
Operating lease expense
$
148

 
$
204

Variable lease expense (1)
22

 
40

Total lease expense (2)
$
170

 
$
244

_______
(1) Variable lease expense is related to our leased real estate and primarily includes labor and operational costs as well as taxes and insurance.
(2) Short-term lease expense is immaterial.
ScheduleOfClassificationOfRightOfUseAssetsAndLeaseLiabilities [Table Text Block]
The following table summarizes the classification of ROU assets and lease liabilities as of June 30, 2020 and March 31, 2020:
(in thousands)
 
June 30, 2020
 
March 31, 2020
 
Balance Sheet Classification
Assets:
 
 
 
 
 
 
ROU assets
 
$
2,771

 
$
628

 
Right-of-use assets on operating leases, net
Liabilities:
 
 
 
 
 
 
  Current operating lease liability
 
375

 
339

 
Accrued expenses
  Non-current operating lease liabilities
 
2,226

 
250

 
Lease liabilities non-current
Total lease liabilities
 
$
2,601

 
$
589