Annual report pursuant to Section 13 and 15(d)

LEASES

v3.22.1
LEASES
 12 Months Ended
Mar. 31, 2022
Leases [Abstract]  
LEASES LEASES
Supplemental balance sheet information related to leases is as follows (in thousands):
Operating leases March 31, 2022 March 31, 2021
Operating lease right-of-use assets $ 11,107  $ 9,383 
Other current liabilities $ 1,727  $ 2,581 
Operating lease liability 9,891  8,005 
   Total operating lease liabilities $ 11,618  $ 10,586 


The components of lease expense were as follows (in thousands):
Year Ended March 31,
Lease expense 2022 2021
Operating lease expense $ 6,871  $ 4,718 
Variable lease expense 1,179  820 
Short-term lease expense 26  132 
   Total lease expense $ 8,076  $ 5,670 

Maturity of Lease Liabilities Operating Leases
2023 $ 2,638 
2024 2,204 
2025 1,937 
2026 1,502 
2027 1,400 
   Thereafter 14,456 
Total lease payments $ 24,137 
Less: Imputed interest (12,519)
Present value of lease liabilities $ 11,618 
Lease Term and Discount Rate March 31,
2022 2021
Weighted average remaining operating lease term (years) 10.88 4.53
Weighted average discount rate for operating leases 12.9  % 13.96  %

Operating cash outflows related to operating leases totaled $3.9 million and $4.9 million for the fiscal years ended March 31, 2022 and March 31, 2021, respectively.