Enzo Biochem, Inc. Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

6 Months Ended

Jan. 31, 2023

Leases	Balance Sheet Classification	January 31, 2023		July 31, 2022
Assets
Operating	Right-of-use assets	$	13,569	$	15,174
Finance	Property, plant and equipment, net (a)		134		172
Total lease assets		$	13,703	$	15,346

Liabilities
Current:
Operating	Current portion of operating lease liabilities	$	3,425	$	3,432
Finance	Finance leases short term		78		81

Non-current:
Operating	Operating lease liabilities, non-current		11,132		12,729
Finance	Other liabilities and finance leases long term		—		39
Total lease liabilities		$	14,635	$	16,281

(a)

Accumulated amortization of finance lease assets was approximately $248 and $210 as of January 31, 2023 and July 31, 2022, respectively.

	Three months ended January 31,				Six months ended January 31,
	2023		2022		2023		2022
Operating lease cost – net (a)	$	912	$	1,129	$	1,960	$	2,287
Finance lease cost:
Amortization of leased assets		19		19		38		38
Interest on lease liabilities		1		2		3		5
Total lease cost	$	932	$	1,150	$	2,001	$	2,330

(a)

Net of $114 sublease income for the three and six months ended January 31, 2023.

Maturity of lease liabilities, years ending July 31,	Operating leases			Finance leases			Total
2023	$	2,080		$	44		$	2,124
2024		3,874			36			3,910
2025		3,541			—			3,541
2026		3,351			—			3,351
2027		2,507			—			2,507
Thereafter		808			—			808
Total lease payments		16,161			80			16,241
Less: Interest (a)		(1,604	)		(2	)		(1,576	)
Present value of lease liabilities	$	14,557		$	78		$	14,665

(a)

Primarily calculated using the Company’s incremental borrowing rate.

Lease term and discount rate	2023			2022
Weighted-average remaining lease term (years):
Operating leases		4.3 years			5.2 years
Finance leases		0.9 years			2.0 years

Weighted-average discount rate:
Operating leases		4.96	%		4.98	%
Finance leases		2.95	%		5.96	%