Annual report [Section 13 and 15(d), not S-K Item 405]

Leases

v3.26.1
Leases
 12 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Leases Leases
The Company has entered into or assumed through acquisitions, various non-cancellable operating lease agreements primarily for office space. These lease agreements expire between fiscal years 2027 and 2031 and, in certain cases, include one or more options to renew. The Company recognizes a right-of-use (“ROU”) asset and lease liability at the lease commencement date based on the estimated present value of lease payments over the lease term. Variable lease payments consisting of non-lease components and services are excluded from the ROU assets and lease liabilities and are recognized in the period in which the obligation is incurred.
Leases are classified on the consolidated balance sheet as follows:
March 31,
2026 2025
Operating lease right-of-use assets
 $ 7,739 $ 9,924
Current operating lease liabilities
 $ 3,149 $ 3,390
Non-current operating lease liabilities
 4,779 6,111
Total right-of-use liabilities
 $ 7,928 $ 9,501
The current portion of the Company’s lease liabilities, payable within the next twelve months, is included in other current liabilities, and the long-term portion of the Company’s lease liabilities is included in other non-current liabilities on the consolidated balance sheet.
Maturities, by fiscal year, of our operating lease liabilities as of March 31, 2026 were as follows:
Fiscal year 2027 $ 3,552 
Fiscal year 2028 2,760 
Fiscal year 2029 2,138 
Fiscal year 2030 424 
Fiscal year 2031 28 
Thereafter — 
Total undiscounted cash flows 8,902 
(Less imputed interest) (974)
Present value of lease liabilities $ 7,928 
As of March 31, 2026, the weighted-average remaining lease term of our operating leases was 2.78 years and the weighted-average discount rate used in the calculation of our lease liabilities was 6.66%.
Supplemental cash flow information related to our leases was as follows:
Year Ended March 31,
2026 2025 2024
Cash paid for amounts included in the measurement of operating lease liabilities
 $ 3,783  $ 3,520  $ 3,443 
Right-of-use assets obtained in exchange for operating lease liabilities 1,477  4,096  2,683 
Operating lease expenses were $3,891, $5,544, and $4,953 for years ended March 31, 2026, 2025 and 2024, respectively. Our operating lease expense includes variable lease costs and is net of sublease income, both of which are not material.