Annual report pursuant to Section 13 and 15(d)

LEASES

v3.21.1
LEASES
 12 Months Ended
Mar. 31, 2021
Leases [Abstract]  
LEASES LEASES
Supplemental balance sheet information related to leases is as follows (in thousands):
Operating leases March 31, 2021 March 31, 2020
Operating lease right-of-use assets    $ 9,383  $ 12,689 
Other current liabilities    $ 2,581  $ 3,065 
Operating lease liability    8,005  10,822 
   Total operating lease liabilities    $ 10,586  $ 13,887 


The components of lease expense were as follows (in thousands):
Year Ended March 31,
Lease expense 2021 2020
Operating lease expense    $ 4,718  $ 4,901 
Variable lease expense    820  277 
Short-term lease expense    132  102 
   Total lease expense    $ 5,670  $ 5,280 

Maturity of Lease Liabilities Operating Leases
   2022 $ 3,818 
   2023 2,766 
   2024 2,602 
   2025 2,310 
   2026 1,910 
   Thereafter 1,002 
Total lease payments $ 14,408 
Less: Imputed interest (3,822)
Present value of lease liabilities $ 10,586 
Lease Term and Discount Rate March 31,
2021 2020
Weighted average remaining operating lease term (years) 4.53 4.99
Weighted average discount rate for operating leases 13.96  % 13.91  %

Operating cash outflows related to operating leases totaled $4.9 million and $4.5 million for the fiscal years ended March 31, 2021 and March 31, 2020, respectively.