v3.26.1
Income Taxes (Tables)
 12 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Before Income Taxes
The components of income before income taxes were as follows:
 
 Year Ended March 31,
 202620252024
Domestic$64,856 $56,342 $62,082 
Foreign27,268 24,711 21,531 
$92,124 $81,053 $83,613 
Schedule of Components of Income Tax Expense (Benefit)
The components of income tax expense (benefit) were as follows:

 Year Ended March 31,
 202620252024
Current:
Federal$950 $11,983 $7,845 
State1,158 2,971 4,242 
Foreign11,659 13,467 12,220 
Total current13,767 28,421 24,307 
Deferred:
Federal3,430 (20,989)(82,773)
State194 1,543 (19,740)
Foreign4,076 (4,028)(7,087)
Total deferred7,700 (23,474)(109,600)
Total income tax expense (benefit)$21,467 $4,947 $(85,293)
Schedule of Reconciliation of Statutory Tax Rates and Effective Tax Rates
A reconciliation of the statutory tax rates and the effective tax rates for the year ended March 31, 2026 is presented below under the disclosure requirements of ASU No. 2023‑09, which the Company adopted on a prospective basis. Reconciliations for the years ended March 31, 2025 and 2024 continue to be presented in accordance with prior guidance.
Year Ended March 31,
2026
AmountPercent
U.S. federal statutory tax rate
$19,346 21.0 %
State and local income taxes, net of federal income tax effect (1)
(262)(0.3)%
Foreign tax effects
Brazil
Withholding taxes2,117 2.3 %
Poland
Changes in valuation allowances
1,018 1.1 %
Other(12)— %
Other foreign jurisdictions3,427 3.7 %
Effect of cross-border tax laws
Global intangible low-taxed income699 0.8 %
Tax Credits
Research and development tax credits(6,094)(6.6)%
Foreign tax credit(322)(0.3)%
Changes in valuation allowances
724 0.8 %
Nontaxable or nondeductible items
Stock-based compensation(1,163)(1.3)%
Other1,748 1.9 %
Worldwide changes in unrecognized tax benefits
175 0.2 %
Other adjustments
66 — %
Effective income tax expense$21,467 23.3 %
(1) The states that contribute to the majority (greater than 50%) of the tax effect in this category include California, Florida, Maryland, Minnesota and New Jersey for the year ended March 31, 2026.

Year Ended March 31,
20252024
Statutory federal income tax expense rate21.0 %21.0 %
State and local income tax expense, net of federal income tax effect— %2.4 %
Foreign earnings taxed at different rates5.6 %5.7 %
U.S. tax on GILTI & FDII(4.2)%(3.3)%
Domestic permanent differences including acquisition items2.9 %1.1 %
Foreign tax credits(4.1)%(2.5)%
Research credits(6.0)%(9.3)%
Tax reserves3.1 %— %
Valuation allowance6.8 %(125.3)%
Enacted tax law changes(2.8)%(0.4)%
Stock-based compensation(13.4)%6.7 %
Other differences, net(2.8)%1.9 %
Effective income tax expense (benefit)6.1 %(102.0)%
Schedule of Components of Deferred Tax Assets and Liabilities
The significant components of our deferred tax assets and liabilities are as follows:
 March 31,
 20262025
Deferred tax assets:
Net operating losses$7,920 $6,873 
Stock-based compensation6,908 5,729 
Deferred revenue38,209 33,125 
Tax credits34,893 26,206 
Accrued expenses2,235 1,576 
Allowance for doubtful accounts and other reserves1,270 1,117 
R&D Capitalization under IRC § 17478,260 83,826 
Depreciation and amortization4,651 9,074 
Capped call20,979 — 
Other12,928 6,162 
Less: valuation allowance(25,667)(23,550)
Total deferred tax assets182,586 150,138 
Deferred tax liabilities:
Withholding taxes(217)(289)
Deferred commissions(21,650)(16,011)
Other(8,518)(1,844)
Total deferred tax liabilities(30,385)(18,144)
Net deferred tax asset$152,201 $131,994 
Schedule of Tax Years Subject to Income Tax Examination The following table summarizes the tax years subject to income tax examinations by tax authorities as of March 31, 2026. The years subject to income tax examination in our foreign jurisdictions cover the maximum time period with respect to these jurisdictions. Due to NOLs, in some cases the tax years continue to remain subject to examination with respect to such NOLs.
 
Tax JurisdictionYears Subject to Income
Tax Examination
U.S. FederalFiscal 2022 - Present
Foreign jurisdictionsFiscal 2015 - Present
Schedule of Reconciliation of Amounts of Unrecognized Tax Benefits A summary of the changes in the amount of unrecognized tax benefits is as follows:
 Year Ended March 31,
 202620252024
Beginning balance of unrecognized tax benefits$11,748 $9,673 $9,388 
Additions for prior year tax positions68 1,391 3 
Reductions for prior year tax positions and lapse in statute of limitations(1,179)(471)(220)
Additions for current year tax positions1,195 1,155 502 
Additions for tax positions related to purchase accounting5,795 — — 
Ending balance of unrecognized tax benefits$17,627 $11,748 $9,673 
Schedule of Income Taxes Paid, Net of Amounts Refunded
The amount of cash taxes paid for the year ended March 31, 2026 was as follows:
 Total
Federal$3,184 
State 3,316 
Foreign
Canada2,441 
United Kingdom(2,249)
India2,972 
Other3,948 
Income taxes, net of amounts refunded$13,612