Quarterly report pursuant to Section 13 or 15(d)

LEASES

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LEASES
 9 Months Ended
Dec. 31, 2023
Leases [Abstract]  
LEASES LEASES
Supplemental balance sheet information related to leases is as follows (in thousands):
Operating Leases December 31, 2023 March 31, 2023
Operating lease right-of-use asset $ 9,625  $ 10,291 
Other accrued liabilities 1,193  1,364 
Operating lease liability 9,885  10,169 
   Total operating lease liabilities $ 11,047  $ 11,533 


Components of lease cost were as follows (in thousands):
Three Months Ended December 31, Nine Months Ended December 31,
Lease Cost 2023 2022 2023 2022
Operating lease cost    $ 710  $ 994  $ 2,316  $ 3,023 
Variable lease cost    51  176  233  513 
Total lease cost    $ 761  $ 1,170  $ 2,549  $ 3,536 

Maturity of Lease Liabilities Operating Leases
   2025 $ 633 
   2026 2,422 
   2027 2,059 
   2028 1,709 
   2029 1,511 
   Thereafter 13,275 
Total lease payments $ 21,609 
Less: imputed interest (10,562)
Present value of lease liabilities $ 11,047 



Lease Term and Discount Rate December 31, 2023 March 31, 2023
Weighted average remaining operating lease term (years) 10.60 10.85
Weighted average discount rate for operating leases 12.7  % 12.7  %

Operating cash outflows related to operating leases totaled $2.3 million and $2.4 million for the nine months ended December 31, 2023 and 2022, respectively.