LEASES (Tables)
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6 Months Ended |
12 Months Ended |
Sep. 30, 2024 |
Mar. 31, 2024 |
| Leases [Abstract] |
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| Supplemental balance sheet |
Supplemental balance sheet information related to leases is as follows (in thousands):
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| Operating Leases |
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September 30, 2024 |
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March 31, 2024 |
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| Operating lease right-of-use asset |
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$ |
9,164 |
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$ |
9,425 |
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| Operating lease liability with other accrued liabilities |
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1,375 |
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|
1,256 |
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| Operating lease liability, net |
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9,366 |
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9,621 |
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Total operating lease liabilities |
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$ |
10,741 |
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$ |
10,877 |
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Supplemental balance sheet information related to leases is as follows (in thousands):
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Year Ended March 31, |
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| Operating leases |
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2024 |
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2023 |
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2022 |
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| Operating lease right-of-use assets |
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$ |
9,425 |
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$ |
10,291 |
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$ |
11,107 |
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| Other current liabilities |
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$ |
1,256 |
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$ |
1,364 |
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$ |
1,727 |
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| Operating lease liability |
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9,621 |
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|
10,169 |
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|
9,891 |
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Total operating lease liabilities |
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$ |
10,877 |
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$ |
11,533 |
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$ |
11,618 |
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| Components of lease cost |
Components of lease cost were as follows (in thousands):
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Three Months Ended September 30, |
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Six Months Ended September 30, |
| Lease Cost |
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2024 |
|
2023 |
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2024 |
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2023 |
| Operating lease cost |
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$ |
779 |
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$ |
731 |
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$ |
1,491 |
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$ |
1,606 |
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| Variable lease cost |
|
82 |
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|
60 |
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|
152 |
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|
182 |
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| Total lease cost |
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$ |
861 |
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$ |
791 |
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$ |
1,643 |
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$ |
1,788 |
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| Lease Term and Discount Rate |
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September 30, 2024 |
|
March 31, 2024 |
| Weighted average remaining operating lease term (years) |
|
10.15 |
|
10.53 |
| Weighted average discount rate for operating leases |
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12.6 |
% |
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12.6 |
% |
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The components of lease expense were as follows (in thousands):
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Year Ended March 31, |
| Lease expense |
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2024 |
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2023 |
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2022 |
| Operating lease expense |
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$ |
3,007 |
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$ |
4,276 |
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$ |
3,727 |
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| Variable lease expense |
|
291 |
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|
753 |
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|
643 |
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| Short-term lease expense |
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— |
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— |
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|
15 |
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Total lease expense |
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$ |
3,298 |
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$ |
5,029 |
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$ |
4,385 |
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| Lease Term and Discount Rate |
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March 31, |
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|
2024 |
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2023 |
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2022 |
| Weighted average remaining operating lease term (years) |
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10.53 |
|
10.85 |
|
10.88 |
| Weighted average discount rate for operating leases |
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12.64 |
% |
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12.66 |
% |
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12.9 |
% |
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| Maturity of operating lease liability |
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| Maturity of Lease Liabilities |
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Operating Leases |
| Remainder of fiscal year 2025 |
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$ |
1,389 |
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| 2026 |
|
2,317 |
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| 2027 |
|
1,797 |
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| 2028 |
|
1,568 |
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| 2029 |
|
1,220 |
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Thereafter |
|
12,089 |
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| Total lease payments |
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$ |
20,380 |
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| Less: imputed interest |
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(9,639) |
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| Present value of lease liabilities |
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$ |
10,741 |
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| Maturity of Lease Liabilities |
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Operating Leases |
| 2024 |
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$ |
2,538 |
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| 2025 |
|
2,062 |
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| 2026 |
|
1,714 |
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| 2027 |
|
1,523 |
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| 2028 |
|
1,207 |
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Thereafter |
|
12,083 |
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| Total lease payments |
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$ |
21,127 |
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| Less: Imputed interest |
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(10,250) |
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| Present value of lease liabilities |
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$ |
10,877 |
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