Quarterly report [Sections 13 or 15(d)]

Debt (Tables)

v3.26.1
Debt (Tables)
 3 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Debt
The following table summarizes borrowings under the Company’s debt obligations and the associated interest rates:
June 30, 2026 March 31, 2026
Amount
Effective Rate
Amount
Effective Rate
Term loan A (due August 2029) $ 285,000  11.2  % $ 285,000  11.7  %
Term loan B (due August 2029) 102,800  11.6  106,150  11.7 
Less: Original debt discount (14,704) (11,917)
Less: Debt issuance costs (6,966) (7,517)
Less: Unamortized exit and duration fees
 (13,267) (10,753)
Total debt, net 352,863  360,963 
Less: Current portion of long-term debt (9,375) (7,031)
Long-term debt, net $ 343,488  $ 353,932 
The components of the Company’s interest expense, net were as follows:
Three Months Ended June 30,
2026 2025
Interest expense on outstanding principal balances
 $ (11,290) $ (8,788)
Amortization of debt discount, issuance costs, and exit and duration fees
 (1,600) (1,154)
Unused line of credit fees
 —  (12)
Total interest expense, net $ (12,890) $ (9,954)
Schedule of Unamortized Exit and Duration Fees
The table below summarizes the changes in the Company’s unamortized exit and duration fees during the three months ended June 30, 2026:
Balance as of March 31, 2026
 $ 10,753 
Exit and duration fees recognized over the effective interest method
 1,164 
Exit and duration fees added to outstanding principal
 1,350 
Balance as of June 30, 2026 $ 13,267 
Schedule of Maturities of Long-Term Debt
As of June 30, 2026, the future principal payments by fiscal year, for the outstanding debt, inclusive of both exit and duration fees, are as follows:
Fiscal year 2027 (remaining nine months) $ 7,031 
Fiscal year 2028
 9,376 
Fiscal year 2029
 9,376 
Fiscal year 2030
 362,017 
Total payments $ 387,800 
Schedule of Derivative Liabilities at Fair Value The table below is a summary of changes in the fair value of the Company’s valuations for the derivative liability for the three months ended June 30, 2026:
Balance as of March 31, 2026 $ 2,164 
Change in fair value 10,799 
Balance as of June 30, 2026 $ 12,963