The Group has operating leases for learning centers, service centers and office spaces. Certain leases include renewal options and / or termination options, which are factored into the Group’s determination of lease payments when appropriate.

Operating lease costs for the years ended February 29, 2024, February 28, 2025 and 2026 were $84,236, $105,431 and $131,525, respectively, which excluded costs of short-term contracts as they were immaterial.

As of February 28, 2025 and 2026, the weighted average remaining lease terms were 6.7 years and 6.1 years, respectively, and the weighted average discount rates were 5.8% and 5.7% for the Group’s operating leases, respectively.


		For the year ended			For the year ended
		February 28,			February 28,
		2025			2026
Cash payments for operating leases		$	103,301		$	128,528
Right-of-use assets obtained in exchange for operating lease liabilities			269,219			197,971

The following is a maturity analysis of the annual undiscounted cash flows for lease liabilities as of February 28, 2026:


	As of February 28,
Fiscal year ending	2026
February 2027	$	129,168
February 2028		110,073
February 2029		84,835
February 2030		49,554
February 2031		21,262
Thereafter		100,158

Total future lease payments		495,050
Less: Imputed interest		(107,574)

Present value of operating lease liabilities	$	387,476

As of February 28, 2026, the Group has lease contracts that have been entered into but not yet commenced amounting to $26,516. These contracts will commence during fiscal year 2027.