v3.25.2
STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Options
The following table summarizes the activity relating to the Company’s market-based stock options for the year ended March 31, 2025:
Options
(in thousands)
Weighted-
Average
Exercise Price
($)
Weighted Average Contractual Remaining Term (years)
Aggregate Intrinsic Values (in thousands)
Outstanding as of April 1, 2024
5,445 13.39 — — 
Granted— — — — 
Exercised— — — — 
Forfeited(245)3.46 — — 
Outstanding as of March 31, 2025
5,200 13.856.96$2,549 
Exercisable as of March 31, 2025
— — — $— 
The following table summarizes the activity relating to the Company’s stock options, excluding the market-based stock options, for the year ended March 31, 2025:

Options
(in thousands)
Weighted-
Average
Exercise Price
($)
Weighted Average Contractual Remaining Term (years)
Aggregate Intrinsic Values (in thousands)
Outstanding as of April 1, 2024
1,979 4.68 — — 
Granted375 4.31 — — 
Exercised(367)5.07 — — 
Forfeited(97)5.22 — — 
Outstanding as of March 31, 2025
1,890 4.516.77$2,089 
Exercisable as of March 31, 2025
1,627 4.54 6.37$1,779 
Schedule of Fair Value Valuation Assumptions
The fair value of each option grant on the date of grant is estimated using the Black-Scholes option-pricing model reflecting the following weighted-average assumptions:

December 31, 2022December 31, 2023March 31, 2025
Expected volatility 49.4 %55.6 %60.2 %
Expected life of options6.56.16.5
Risk free interest rate1.73 %3.87 %4.23 %
Dividend yield— — — 
Weighted-average fair value of options granted during the year$2.04 $1.66 $2.66 
No options were granted during the three months ended March 31, 2024.
Schedule of Restricted Stock Activity A summary of all unvested restricted stock for the year ended March 31, 2025 is as follows:
Number of
Unvested Shares
(in thousands)
Weighted- Average
Grant Date Fair Value
($)
Unvested, March 31, 2024
1,370 2.68 
Granted54 5.45 
Vested/Exercised
(1,370)2.68 
Forfeited or expired— — 
Unvested, March 31, 2025
54 5.45 
Time Based Restricted Shares
Market Based Restricted Shares
Number of
Unvested Shares
Weighted- Average
Grant Date Fair Value
Number of
Unvested Shares
Weighted- Average
Grant Date Fair Value
Unvested, March 31, 2024
— — — — 
Granted313 5.59 938 5.35 
Vested/Exercised
— — — — 
Forfeited or expired— — — — 
Unvested, March 31, 2025
313 5.35 938 5.35 
Number of
Unvested Shares
Weighted- Average
Grant Date Fair Value
Unvested, March 31, 2024
— — 
Granted365 5.59 
Vested/Exercised
— — 
Forfeited or expired— — 
Unvested, March 31, 2025
365 5.59 
Schedule of Unvested SARs Activities
The following table summarizes the activities for the outstanding SARs:

Number of SARs
(in thousands)
Weighted-
Average
Exercise Price
($)
Weighted Average Contractual Remaining Term (years)
Aggregate Intrinsic Values (in thousands)
Outstanding as of April 1, 2024
— — 
Acquired through MiX Combination5,740 2.61 
Granted— — 
Exercised(2,004)2.92 
Forfeited(498)2.43 
Outstanding as of March 31, 2025
3,238 2.443.07
Exercisable as of March 31, 2025
856 2.86 1.78$2,249