Quarterly report pursuant to Section 13 or 15(d)

LEASES

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LEASES
3 Months Ended
Jun. 30, 2024
Leases [Abstract]  
LEASES LEASES
Supplemental balance sheet information related to leases is as follows (in thousands):
Operating leases June 30, 2024 March 31, 2024
Operating lease right-of-use asset $ 9,344  $ 9,425 
Operating lease liabilities, current portion 1,351  1,256 
Operating lease liability, net of current portion 9,464  9,621 
   Total operating lease liabilities $ 10,815  $ 10,877 


Components of lease cost were as follows (in thousands):
Three Months Ended June 30,
Lease Cost 2024 2023
Operating lease cost    $ 712  $ 875 
Variable lease cost    70  122 
Total lease cost    $ 782  $ 997 

Maturity of Lease Liabilities Operating Leases
Remainder of 2025 $ 2,009 
2026 2,227 
2027 1,733 
2028 1,533 
2029 1,213 
   Thereafter 12,089 
Total lease payments $ 20,804 
Less: imputed interest (9,989)
Present value of lease liabilities $ 10,815 



Lease Term and Discount Rate June 30, 2024 March 31, 2024
Weighted average remaining operating lease term (years) 10.28 10.53
Weighted average discount rate for operating leases 12.60  % 12.64  %

Operating cash outflows related to operating leases totaled $0.7 million and $0.9 million for the three months ended June 30, 2024 and 2023, respectively.