v3.26.1
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
12 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts and Fair Values of Derivative Instruments on Consolidated Balance Sheet

The notional amounts and fair values of foreign exchange forward contract derivative instruments in the consolidated balance sheets at March 31, 2026 and 2025 were as follows (in thousands):

 

 

 

Notional Amounts (a)

 

 

Prepaid Expenses and Other Current Assets

 

 

Accrued Other

 

 

 

March 31,
2026

 

 

March 31,
2025

 

 

March 31,
2026

 

 

March 31,
2025

 

 

March 31,
2026

 

 

March 31,
2025

 

Derivatives designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forward contracts

 

$

11,023

 

 

$

10,649

 

 

$

22

 

 

$

197

 

 

$

258

 

 

$

55

 

 

 

 

 

 

 

 

$

22

 

 

$

197

 

 

$

258

 

 

$

55

 

 

(a)
Notional amounts represent the gross contract/notional amount of the derivatives outstanding.
Schedule of Effect of Foreign Exchange Forward Contracts on OCI and Results of Operations

The following table provides the effect foreign exchange forward contracts had on other comprehensive income (loss), (OCI) and results of operations during the fiscal years ended March 31, 2026 and 2025 (in thousands):

 

 

 

Loss Recognized
in OCI on Derivative
(a)

 

 

 

 

(Loss) Gain Reclassified from
Accumulated OCI into Income
(b)

 

 

 

March 31,

 

 

March 31,

 

 

 

 

March 31,

 

 

March 31,

 

 

 

2026

 

 

2025

 

 

Location

 

2026

 

 

2025

 

Forward contracts

 

$

(87

)

 

$

(149

)

 

Research and development

 

$

54

 

 

$

34

 

 

 

 

 

 

 

 

 

Sales and marketing

 

 

(330

)

 

 

311

 

 

$

(87

)

 

$

(149

)

 

 

 

$

(276

)

 

$

345

 

 

(a)
The amount represents the change in fair value of derivative contracts due to changes in spot rates.
(b)
The amount represents reclassification from other comprehensive income to earnings that occurs when the hedged item affects earnings.

The following table provides the effect foreign exchange forward contracts not designated as hedging instruments had on the Company's results of operations during the fiscal years ended March 31, 2026 and 2025 (in thousands):

 

 

 

 

 

 

 

 

 

Loss Recognized in Income
(a)

 

 

 

 

 

 

 

 

 

March 31,

 

 

March 31,

 

 

 

 

 

 

 

Location

 

2026

 

 

2025

 

Forward contracts

 

 

 

 

 

General and administrative

 

$

 

 

$

(278

)

 

 

 

 

 

 

 

 

$

 

 

$

(278

)

 

(a)
The amount represents the change in fair value of derivative contracts due to changes in spot rates.