Pay vs Performance Disclosure - USD ($)

12 Months Ended

Mar. 31, 2025

Mar. 31, 2024

Mar. 31, 2023

Mar. 31, 2022

Mar. 31, 2021

The following table shows the total compensation for our named executive officers (“NEOs”) for the past five fiscal years as set forth in the Summary Compensation table, the “compensation actually paid” (or “CAP”) to our principal executive officer (“PEO”), and on an average basis, to our other NEOs (in each case, as determined under SEC rules), our Total Stockholder Return (“TSR”), the TSR of companies listed in the SIC Code 7373 - Computer Integrated Systems Design (our peer group for this purpose), our GAAP net income (loss), and our Company Selected Metric results (GAAP net revenue).


Fiscal Year ended March 31, (a)	Summary compensation on table total for PEO ($)(b)(1)		Compensation actually paid to PEO ($)(c)(2)			Average summary compensation on table total for non- PEO NEOs ($)(d)(3)		Average compensation actually paid to non- PEO NEOs ($)(e)(2)		Total stockholder return ($)(4)		Peer group total stockholder return ($)(4)		Net income (loss) (in thousands) ($)			Net revenue (in thousands) ($)(5)
2025		1,622,906		1,834,576			1,316,707		1,107,806		334.21		64.21		23,225			275,624
2024		1,249,366		989,700			771,804		774,745		404.43		61.58		86,195			237,464
2023		5,836,288		9,323,318			605,203		1,791,185		394.01		11.64		14,582			198,065
2022		822,789		(205,682	)		403,998		416,487		138.80		42.08		6,478			162,636
2021		348,447		10,333,284			1,342,437		3,148,920		187.19		34.69		(21,001	)		137,176

(1)

The dollar amounts reported in column (b) are the amounts of total compensation reported for Mr. Srinivasan (our Chief Executive Officer) for each corresponding year in the “Total” column of the Summary Compensation table. Refer to “Summary Compensation Table for Fiscal Year 2025.”

(2)

The dollar amounts reported in column (c) and (e) represent the amount of “compensation actually paid”, as computed in accordance with SEC rules. “Compensation actually paid” may not necessarily represent total cash and/or equity value transferred to the applicable NEO without restriction, but rather is a value calculated under applicable SEC rules. We do not have a defined benefit plan for named executives, so no adjustment for pension benefits is included in the table below. The following table details these adjustments:


Fiscal Year ended March 31, (a)	Executives	SCT Total Compensation ($)(A)		Grant date value of new awards ($)(B)		Year-end value of new awards ($)(i)		Change in value of prior awards that are unvested ($)(ii)			Change in value of vested awards granted in prior fiscal years ($)(iii)			Value of vested awards granted during fiscal year ($)(iv)		Value of unvested awards forfeited during fiscal year ($)(v)			Total equity CAP (C)=(i)+(ii) +(iii)+(iv)+(v) ($)			CAP (D)=(A)- (B)+(C) ($)
2025	PEO		1,622,906		498,000		—		328,152			(116,483	)		498,000		—			709,670			1,834,576
	Other NEOs		1,316,707		869,938		535,780		(28,670	)		153,926			—		—			661,037			1,107,806
2024	PEO		1,249,366		630,000		—		(192,038	)		(67,628	)		630,000		—			370,334			989,700
	Other NEOs		771,804		259,513		240,689		23,888			(2,123	)		—		—			262,453			774,745
2023	PEO		5,836,288		5,219,824		5,027,042		—			3,319,813			360,000		—			8,706,855			9,323,318
	Other NEOs		605,203		195,125		669,074		130,734			581,299			—		—			1,381,107			1,791,185
2022	PEO		822,789		204,000		—		(1,019,476	)		(8,995	)		204,000		—			(824,471	)		(205,682	)
	Other NEOs		403,998		99,375		101,195		41,643			(30,975	)		—		—			111,864			416,487
2021	PEO		348,447		180,000		—		8,578,180			1,406,657			180,000		—			10,164,837			10,333,284
	Other NEOs		1,342,437		1,094,854		182,613		125,012			495,753			2,150,273		(52,315	)		2,901,337			3,148,920

The dollar amounts reported in the Summary Compensation table for the applicable fiscal year (on an average basis for the non-PEO NEOs).

The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and "Option Awards" columns in the Summary Compensation table for the applicable year (on an average basis for the non-PEO NEOs).

The recalculated value of equity awards for each applicable year includes the addition (or subtraction, as applicable) of the following (on an average basis for the non-PEO NEOs):

(i)

the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year;

(ii)

the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year;

(iii)

for awards that vest in the applicable year, the change in the fair value as of the vesting date from the end of the prior fiscal year; and

(iv)

for awards that are granted and also vest in the applicable year, the fair value as of the vesting date. The valuation assumptions and processes used to recalculate fair values used a consistent process and did not materially differ from those disclosed at the time of the applicable grant; and

(v)

for awards that forfeit in the applicable year, the fair value as of the end of the prior fiscal year.

“Compensation Actually Paid” may not necessarily represent total cash and/or equity value transferred to the applicable NEO without restriction, but rather is a value calculated under applicable SEC rules.

(3)

The dollar amounts reported in column (d) are the average amounts of total compensation reported for the non-PEO NEOs for each corresponding year in the “Total” column of the Summary Compensation table. Refer to “Summary Compensation Table for Fiscal Year 2025.” For each of years ended March 31, 2025, 2024, 2023, 2022 and 2021, the non-PEO NEOs were:


Year ended March 31,	Non-PEO NEOs


2025	Dave Wood, Kyle Badger, Sethuram Shivashankar, Joe Youssef
2024	Dave Wood, Don DeMarinis, Sridhar Laveti, Sethuram Shivashankar
2023	Dave Wood, Kyle Badger, Prabuddha Biswas, Don DeMarinis
2022	Dave Wood, Kyle Badger, Don DeMarinis, Chris Robertson
2021	Dave Wood, Kyle Badger, Prabuddha Biswas, Don DeMarinis, Tony Pritchett

(4)

TSR is determined based on the value of an initial fixed investment of $100 at market close on the last trading before April 1, 2020. The TSR peer group consists of the companies listed in the SIC Code 7373 - Computer Integrated Systems Design.

(5)

Our company-selected measure is GAAP revenue.

Company Selected Measure Name

Net revenue

Named Executive Officers, Footnote

(1)

(3)


Year ended March 31,	Non-PEO NEOs


2025	Dave Wood, Kyle Badger, Sethuram Shivashankar, Joe Youssef
2024	Dave Wood, Don DeMarinis, Sridhar Laveti, Sethuram Shivashankar
2023	Dave Wood, Kyle Badger, Prabuddha Biswas, Don DeMarinis
2022	Dave Wood, Kyle Badger, Don DeMarinis, Chris Robertson
2021	Dave Wood, Kyle Badger, Prabuddha Biswas, Don DeMarinis, Tony Pritchett

Peer Group Issuers, Footnote

(4)

PEO Total Compensation Amount

$ 1,622,906

$ 1,249,366

$ 5,836,288

$ 822,789

$ 348,447

PEO Actually Paid Compensation Amount

$ 1,834,576

989,700

9,323,318

(205,682)

10,333,284

Adjustment To PEO Compensation, Footnote

(2)


Fiscal Year ended March 31, (a)	Executives	SCT Total Compensation ($)(A)		Grant date value of new awards ($)(B)		Year-end value of new awards ($)(i)		Change in value of prior awards that are unvested ($)(ii)			Change in value of vested awards granted in prior fiscal years ($)(iii)			Value of vested awards granted during fiscal year ($)(iv)		Value of unvested awards forfeited during fiscal year ($)(v)			Total equity CAP (C)=(i)+(ii) +(iii)+(iv)+(v) ($)			CAP (D)=(A)- (B)+(C) ($)
2025	PEO		1,622,906		498,000		—		328,152			(116,483	)		498,000		—			709,670			1,834,576
	Other NEOs		1,316,707		869,938		535,780		(28,670	)		153,926			—		—			661,037			1,107,806
2024	PEO		1,249,366		630,000		—		(192,038	)		(67,628	)		630,000		—			370,334			989,700
	Other NEOs		771,804		259,513		240,689		23,888			(2,123	)		—		—			262,453			774,745
2023	PEO		5,836,288		5,219,824		5,027,042		—			3,319,813			360,000		—			8,706,855			9,323,318
	Other NEOs		605,203		195,125		669,074		130,734			581,299			—		—			1,381,107			1,791,185
2022	PEO		822,789		204,000		—		(1,019,476	)		(8,995	)		204,000		—			(824,471	)		(205,682	)
	Other NEOs		403,998		99,375		101,195		41,643			(30,975	)		—		—			111,864			416,487
2021	PEO		348,447		180,000		—		8,578,180			1,406,657			180,000		—			10,164,837			10,333,284
	Other NEOs		1,342,437		1,094,854		182,613		125,012			495,753			2,150,273		(52,315	)		2,901,337			3,148,920

The dollar amounts reported in the Summary Compensation table for the applicable fiscal year (on an average basis for the non-PEO NEOs).

The recalculated value of equity awards for each applicable year includes the addition (or subtraction, as applicable) of the following (on an average basis for the non-PEO NEOs):

(i)

the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year;

(ii)

(iii)

for awards that vest in the applicable year, the change in the fair value as of the vesting date from the end of the prior fiscal year; and

(iv)

(v)

for awards that forfeit in the applicable year, the fair value as of the end of the prior fiscal year.

Non-PEO NEO Average Total Compensation Amount

$ 1,316,707

771,804

605,203

403,998

1,342,437

Non-PEO NEO Average Compensation Actually Paid Amount

$ 1,107,806

774,745

1,791,185

416,487

3,148,920

Adjustment to Non-PEO NEO Compensation Footnote

(2)


Fiscal Year ended March 31, (a)	Executives	SCT Total Compensation ($)(A)		Grant date value of new awards ($)(B)		Year-end value of new awards ($)(i)		Change in value of prior awards that are unvested ($)(ii)			Change in value of vested awards granted in prior fiscal years ($)(iii)			Value of vested awards granted during fiscal year ($)(iv)		Value of unvested awards forfeited during fiscal year ($)(v)			Total equity CAP (C)=(i)+(ii) +(iii)+(iv)+(v) ($)			CAP (D)=(A)- (B)+(C) ($)
2025	PEO		1,622,906		498,000		—		328,152			(116,483	)		498,000		—			709,670			1,834,576
	Other NEOs		1,316,707		869,938		535,780		(28,670	)		153,926			—		—			661,037			1,107,806
2024	PEO		1,249,366		630,000		—		(192,038	)		(67,628	)		630,000		—			370,334			989,700
	Other NEOs		771,804		259,513		240,689		23,888			(2,123	)		—		—			262,453			774,745
2023	PEO		5,836,288		5,219,824		5,027,042		—			3,319,813			360,000		—			8,706,855			9,323,318
	Other NEOs		605,203		195,125		669,074		130,734			581,299			—		—			1,381,107			1,791,185
2022	PEO		822,789		204,000		—		(1,019,476	)		(8,995	)		204,000		—			(824,471	)		(205,682	)
	Other NEOs		403,998		99,375		101,195		41,643			(30,975	)		—		—			111,864			416,487
2021	PEO		348,447		180,000		—		8,578,180			1,406,657			180,000		—			10,164,837			10,333,284
	Other NEOs		1,342,437		1,094,854		182,613		125,012			495,753			2,150,273		(52,315	)		2,901,337			3,148,920

The dollar amounts reported in the Summary Compensation table for the applicable fiscal year (on an average basis for the non-PEO NEOs).

The recalculated value of equity awards for each applicable year includes the addition (or subtraction, as applicable) of the following (on an average basis for the non-PEO NEOs):

(i)

the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year;

(ii)

(iii)

for awards that vest in the applicable year, the change in the fair value as of the vesting date from the end of the prior fiscal year; and

(iv)

(v)

for awards that forfeit in the applicable year, the fair value as of the end of the prior fiscal year.

Compensation Actually Paid vs. Total Shareholder Return

Compensation Actually Paid and Cumulative TSR of the Company

For fiscal years 2021, 2022, 2023, 2024 and 2025, the Company’s TSR (based on a $100 investment at the beginning of fiscal year 2021) increased by 87.2%, decreased by 25.8%, increased by 183.9%, increased by 2.6% and decreased by 17.4%, respectively. During each of fiscal years 2022, 2023, 2024 and 2025, CAP to our PEO decreased from $10.3 million to $(0.2) million; increased from $(0.2) million to $9.3 million; decreased from $9.3 million to $1.0 million; and increased from $1.0 million to $1.3 million, respectively. During each of fiscal years 2022, 2023, 2024 and 2025, average CAP to our non-PEO NEOs decreased from $3.1 million to $0.4 million; increased from $0.4 million to $1.8 million; decreased from $1.8 million to $0.8 million; and increased from $0.8 million to $1.1 million, respectively.

Compensation Actually Paid vs. Net Income

Compensation Actually Paid and Net Income (Loss)

For fiscal years 2021, 2022, 2023 and 2024, the Company’s Net Income (Loss) increased by 38.4%, 130.8%, 125.1% and 491.1%, respectively. For fiscal 2025, the Company's Net Income (Loss) decreased by 73.1%. As noted above, CAP to our PEO and to our non-PEO NEOs decreased during fiscal year 2022, increased during fiscal year 2023, decreased during fiscal year 2024 and increased during fiscal year 2025.

Compensation Actually Paid vs. Company Selected Measure

Compensation Actually Paid and Revenue

For fiscal years 2021, 2022, 2023, 2024 and 2025, the Company’s Revenue (computed in accordance with GAAP) decreased by 14.7%, increased by 18.6%, increased by 21.8%, increased by 19.9% and increased by 16.1%, respectively. As noted above, CAP to our PEO and to our non-PEO NEOs decreased during fiscal year 2022, increased during fiscal year 2023, decreased during fiscal year 2024 and increased during fiscal year 2025.

Total Shareholder Return Vs Peer Group

Cumulative TSR of the Company and Cumulative TSR of the Peer Group

Company TSR significantly outpaced Peer Group TSR (computed using the companies listed in the SIC Code 7373 - Computer Integrated Systems Design) for fiscal years 2021, 2022, 2023, 2024 and 2025.

Tabular List, Table

The most important financial performance measures used by the Company to link executive compensation actually paid to the Company’s NEOs to the Company’s performance for the most recently completed fiscal year are as follows:

•

Net Revenue

•

Adjusted EBITDA

•

Stock Price

Total Shareholder Return Amount

$ 334.21

404.43

394.01

138.8

187.19