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

Stock-Based Compensation (Tables)

v3.26.1
Stock-Based Compensation (Tables)
12 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
The following table summarizes stock option activity:
Number of Shares Weighted-Average Exercise Price
(per share)
Weighted-Average Remaining
Contractual
Life
(in years)
Aggregate 
Intrinsic Value
(in thousands)
Options outstanding as of March 31, 2025
7,239,383  $ 9.13  6.02 $ 3,738 
Granted 1,168,725  4.45 
Exercised (1,276,341) 1.93 
Forfeited / Expired (558,857) 17.21 
Options outstanding as of March 31, 2026
6,572,910  $ 9.02  6.31 $ 2,571 
Options exercisable as of March 31, 2026
4,441,425  $ 11.27  5.11 $ 2,171 
Schedule of RSU, PSU and RSA Activity
The following table summarizes RSU, PSU, and RSA activity:
Number of Shares Weighted-Average Grant Date Fair Value
Unvested restricted shares outstanding as of March 31, 2025
5,575,944  $ 5.53 
Granted 3,338,575  4.44 
Vested (3,332,114) 5.08 
Forfeited (686,567) 4.84 
Unvested restricted shares outstanding as of March 31, 2026
4,895,838  $ 4.83 
Schedule of Market-based Assumptions The assumptions utilized in this model during the years ended March 31, 2026, 2025, and 2024 are presented below.
 
Year Ended March 31,
  2026 2025 2024
Risk-free interest rate
3.67% to 3.81%
3.66% to 4.44%
3.82% to 4.29%
Expected life of the options (years)
4.87 to 4.89
4.81 to 4.82
4.70 to 4.72
Expected volatility
103% to 105%
94% to 97%
88% to 88%
Expected dividend yield —% —% —%
Schedule of Intrinsic Value of Stock Option
Total fair value of options vested and total intrinsic value of options exercised were as follows for the fiscal years presented:
 
Year Ended March 31,
  2026 2025 2024
Total fair value of options vested $ 4,190  $ 7,779  $ 12,334 
Total intrinsic value of options exercised 5,699  138  6,441