| Components of lease expense and additional information |
The components of lease expense are as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended April 30, | | Nine months ended April 30, | | 2026 | | 2025 | | 2026 | | 2025 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Operating lease expense | $ | 1,910,000 | | | 1,863,000 | | | $ | 5,828,000 | | | 5,637,000 | | | | | Short-term lease expense | 44,000 | | | 35,000 | | | 122,000 | | | 99,000 | | | | | Variable lease expense | 1,065,000 | | | 1,214,000 | | | 2,908,000 | | | 3,514,000 | | | | | Sublease income | — | | | — | | | — | | | (28,000) | | | | | Total lease expense | $ | 3,019,000 | | | 3,112,000 | | | $ | 8,858,000 | | | 9,222,000 | | | |
Additional information related to leases is as follows: | | | | | | | | | | | | | | | | | Nine months ended April 30, | | | 2026 | | 2025 | | | | | | | Cash paid for amounts included in the measurement of lease liabilities: | | | | | | Operating leases - Operating cash outflows | | $ | 6,130,000 | | | $ | 6,236,000 | | | | | | | | | | | | | ROU assets obtained in the exchange for lease liabilities (non-cash): | | | | | | Operating leases | | $ | 4,390,000 | | | $ | 4,271,000 | | | | | | |
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| Future cash flows relating to operating lease liabilities |
The following table is a reconciliation of future cash flows relating to operating lease liabilities presented on our Condensed Consolidated Balance Sheet as of April 30, 2026:
| | | | | | | | | | | | | | | | | Remainder of fiscal 2026 | $ | 1,453,000 | | | | | | | Fiscal 2027 | 7,577,000 | | | | | | | Fiscal 2028 | 6,905,000 | | | | | | | Fiscal 2029 | 5,645,000 | | | | | | | Fiscal 2030 | 5,176,000 | | | | | | | Thereafter | 15,712,000 | | | | | | | Total future undiscounted cash flows | 42,468,000 | | | | | | | Less: Present value discount | 6,111,000 | | | | | | | Lease liabilities | $ | 36,357,000 | | | | | | | | | | | | | Weighted-average remaining lease terms (in years) | 7.11 | | | | | | Weighted-average discount rate | 5.22% | | | | |
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