Quarterly report [Sections 13 or 15(d)]

Income Taxes

v3.26.3
Income Taxes
 6 Months Ended
Sep. 30, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company’s provision for income taxes as a percentage of pre-tax income (loss) (“effective tax rate”) is based on a current estimate of the annual effective income tax rate, adjusted to reflect the impact of discrete items. n accordance with ASC 740 Accounting for Income Taxes, jurisdictions forecasting losses that are not benefited due to valuation allowances are not included in the Company’s forecasted effective tax rate.
Three Months Ended
September 30,
Six Months Ended
September 30,
2026 2025 2026 2025
(in thousands, except percentages)
Income (loss) before taxes $ 12,953  $ (19,943) $ 1,977  $ (36,140)
Income tax expense (benefit) 2,670  1,452  4,958  (641)
Effective tax rate 20.6  % (7.3) % 250.8  % 1.8  %
The difference between the effective tax rate and the statutory tax rate for the three months ended September 30, 2026 and 2025 are primarily related to foreign income tax rate differences. The difference between the effective tax rate and the statutory tax rate for the six months ended September 30, 2026 and 2025 are primarily related to foreign income tax rate differences and a valuation allowance on net operating loss carryforwards.