v3.26.3
Leases (Tables)
 6 Months Ended
Aug. 31, 2026
Leases [Abstract]  
Lease, Cost
The following table outlines the classification of right-of-use ("ROU") assets and lease liabilities in the consolidated balance sheets as of August 31, 2026 and February 28, 2026 (in thousands):
As of
August 31, 2026February 28, 2026
AssetsBalance Sheet Classification
Operating right-of-use assetsRight-of-use assets$45,378 $46,261 
Finance right-of-use assets Right-of-use assets$44,939 $13,303 
Liabilities
Operating lease liabilities―short-termLease liability—short-term$5,938 $5,413 
Operating lease liabilities―long-termLease liability—long-term$40,327 $41,489 
Finance lease liabilities―short-termLease liability—short-term$4,119 $3,266 
Finance lease liabilities―long-termLease liability—long-term$41,531 $10,480 
Supplemental information related to our leases was as follows (in thousands, except years and percentages):
Three Months Ended August 31,Six Months Ended August 31,
2026202520262025
Operating cash flows from operating leases included in lease liabilities$2,043 $1,852 $4,049 $3,733 
Lease liabilities obtained from new ROU assets—operating leases$714 $1,954 2,090 1,970 
Decrease in ROU assets related to lease terminations$(133)$(146)(133)(613)
Operating cash flows from finance leases included in lease liabilities$410 $199 649 340 
Financing cash flows from finance leases included in lease liabilities$947 $604 1,819 1038 
Lease liabilities obtained from new ROU assets—finance leases$31,434 $2,497 33,826 6,624 
As of
August 31, 2026February 28, 2026
Weighted-average remaining lease term—operating leases14.39 years14.71 years
Weighted-average discount rate—operating leases6.11 %6.10 %
Weighted-average remaining lease term—finance leases3.24 years4.01 years
Weighted-average discount rate—finance leases6.47 %6.59 %
The following table outlines our lease expense in the consolidated statements of operations for the three and six months ended August 31, 2026 and 2025 (in thousands):
Three Months Ended August 31,Six Months Ended August 31,
2026202520262025
Operating lease expense:
Cost of sales$1,935 $1,495 $3,821 $3,325 
Selling, general and administrative468 575 968 1,085 
Total operating lease expense2,403 2,070 4,789 4,410 
Finance lease expense:
Cost of sales1,139 684 2,091 1,171 
Interest expense410 199 649 340 
Total finance lease expense1,549 883 2,740 1,511 
Variable lease expense:
Cost of sales300 215 558 464 
Total variable lease expense300 215 558 464 
Short-term lease expense:
Cost of sales1,889 1,869 3,795 3,671 
Selling, general and administrative35 — 70 4 
Total short-term lease expense1,924 1,869 3,865 3,675 
Total lease expense$6,176 $5,037 $11,952 $10,060 
Lessee, Operating Lease, Liability, Maturity
As of August 31, 2026, maturities of our lease liabilities were as follows (in thousands):
Fiscal year:Operating LeasesFinance LeasesTotal
2027$4,503 $3,325 $7,828 
20287,763 6,596 14,359 
20296,942 6,409 13,351 
20304,841 34,735 39,576 
20313,916 1,792 5,708 
20323,139 226 3,365 
Thereafter41,623 38 41,661 
Total lease payments72,727 53,121 125,848 
Less imputed interest(26,462)(7,471)(33,933)
Total$46,265 $45,650 $91,915 
Finance Lease, Liability, Maturity
As of August 31, 2026, maturities of our lease liabilities were as follows (in thousands):
Fiscal year:Operating LeasesFinance LeasesTotal
2027$4,503 $3,325 $7,828 
20287,763 6,596 14,359 
20296,942 6,409 13,351 
20304,841 34,735 39,576 
20313,916 1,792 5,708 
20323,139 226 3,365 
Thereafter41,623 38 41,661 
Total lease payments72,727 53,121 125,848 
Less imputed interest(26,462)(7,471)(33,933)
Total$46,265 $45,650 $91,915 
Operating Lease, Lease Income Sublease income for the three and six months ended August 31, 2026 and 2025 was as follows (in thousands):
Three Months Ended August 31,Six Months Ended August 31,
2026202520262025
Sublease income $192 $266 $408 $531