Quarterly report [Sections 13 or 15(d)]

Transformation Program Activities

v3.25.2
Transformation Program Activities
3 Months Ended
Jun. 30, 2025
Restructuring and Related Activities [Abstract]  
Transformation Program Activities Transformation Program Activities
In October 2024, the Company began a transformation program intended to improve various measures across the organization. These measures include but are not limited to current and future operating expenses, cash flows, and personnel costs. Additionally, the initiatives intend to simplify and streamline business operations, including product optimization, procurement and cost optimization, and team restructuring.
As part of the transformation program, we implemented a two-phased reduction in our workforce, one in November 2024 and the other in January 2025. The transformation program includes a number of other initiatives that are underway, and the Company substantially completed the transformation program by the fourth quarter of fiscal year 2025.
No charges were incurred related to the transformation program for the three months ended June 30, 2025.
During the year ended March 31, 2025, the Company incurred expenses of $2,886 related to our transformation program, which related specifically to severance costs, and was fully paid as of March 31, 2025. These aggregate pre-tax charges are primarily cash-based and consist of severance and other one-time termination benefits.