Annual report pursuant to Section 13 and 15(d)

LEASES

v3.23.1
LEASES
 12 Months Ended
Mar. 31, 2023
Leases [Abstract]  
LEASES LEASES
Supplemental balance sheet information related to leases is as follows (in thousands):
Operating leases March 31, 2023 March 31, 2022
Operating lease right-of-use assets $ 10,291  $ 11,107 
Other current liabilities $ 1,364  $ 1,727 
Operating lease liability 10,169  9,891 
   Total operating lease liabilities $ 11,533  $ 11,618 


The components of lease expense were as follows (in thousands):
Year Ended March 31,
Lease expense 2023 2022
Operating lease expense $ 4,276  $ 3,727 
Variable lease expense 753  643 
Short-term lease expense —  15 
   Total lease expense $ 5,029  $ 4,385 
Maturity of Lease Liabilities Operating Leases
2023 $ 2,700 
2024 2,208 
2025 1,781 
2026 1,606 
2027 1,436 
   Thereafter 13,262 
Total lease payments $ 22,993 
Less: Imputed interest (11,460)
Present value of lease liabilities $ 11,533 

Lease Term and Discount Rate March 31,
2023 2022
Weighted average remaining operating lease term (years) 10.85 10.88
Weighted average discount rate for operating leases 12.66  % 12.9  %

Operating cash outflows related to operating leases totaled $3.5 million and $3.7 million for the fiscal years ended March 31, 2023 and March 31, 2022, respectively.