v3.26.1
Employee Retirement Plans
 12 Months Ended
Mar. 31, 2026
Retirement Benefits [Abstract]  
Employee Retirement Plans Employee Retirement Plans
We have a defined contribution plan in which all U.S. full-time employees are eligible to participate. The participants may contribute from 1% to 70% of their compensation, as defined in the plan. We match 100% of the first 3%, plus 50% of the next 3%, of each participant's base compensation with full vesting immediately. We may also make additional contributions to the plan as determined by the Board of Directors. The total expense for the defined contribution plan was $2.1 million, $2.0 million and $2.0 million for 2026, 2025 and 2024, respectively.

In connection with the acquisition of Pillar5 in December 2025, certain eligible employees in Canada participate in a defined contribution pension plan. The Company’s obligation under this plan is limited to specified employer contributions in accordance with the plan’s terms. 

Certain employees of our Lynchburg manufacturing facility are covered by an unfunded non-qualified plan.

Benefit Obligations and Plan Assets
The following table summarizes the changes in the U.S. pension plan obligations and includes a statement of the plan's funded status as of March 31, 2026 and 2025:
March 31,
 (In thousands)20262025
Change in benefit obligation:
Projected benefit obligation at beginning of period$3,232 $3,381 
Interest cost141 155 
Actuarial gain89 66 
Benefits paid(370)(370)
Projected benefit obligations at end of year$3,092 $3,232 
Change in plan assets:
Fair value of plan assets at beginning of period$— $— 
Employer contribution370 370 
Benefits paid(370)(370)
Settlements paid with termination of qualified plan— — 
Fair value of plan assets at end of year$— $— 
Funded status at end of year$(3,092)$(3,232)

Amounts recognized in the balance sheet at the end of the period consist of the following:
March 31,
 (In thousands)20262025
Current liability$361 $362 
Long-term liability2,731 2,870 
Total liabilities$3,092 $3,232 

The primary components of Net Periodic Benefit Cost consist of the following:
Year Ended March 31,
 (In thousands)202620252024
Interest cost$141 $155 $152 
Net periodic benefit cost $141 $155 $152 

The following table provides information regarding the accumulated benefit obligation of our pension plan:

March 31,
 (In thousands)20262025
Accumulated benefit obligation$3,092 $3,232 
Projected benefit obligations$3,092 $3,232 

The following table includes amounts that are expected to be contributed to the unfunded plan by the Company. It reflects benefit payments that are made directly from the Company's assets. The amounts in the table are actuarially determined and reflect the Company's best estimate given its current knowledge; actual amounts could be materially different.
 (In thousands)Pension Benefits
Employer contributions:
2027 (expectation) to participant benefits$361 
Expected benefit payments year ending March 31,
2027$361 
2028347 
2029332 
2030316 
2031301 
2032-20351,260 

Since our plan is unfunded, there were no plan assets as of March 31, 2025 or 2026.

The following tables show the unrecognized actuarial gain included in accumulated other comprehensive income (loss) at March 31, 2026, 2025 and 2024:

 (In thousands)
Balances in accumulated other comprehensive loss as of March 31, 2024:
Unrecognized actuarial (gain)$(942)
Balances in accumulated other comprehensive loss as of March 31, 2025:
Unrecognized actuarial (gain)$(836)
Balances in accumulated other comprehensive loss as of March 31, 2026:
Unrecognized actuarial (gain)$(711)

There was no unrecognized prior service credit for any of the periods presented.

Assumptions used in determining the actuarial present value of the net periodic benefit cost (income) for the fiscal years ended March 31, 2026, 2025 and 2024 were as follows:
March 31,
202620252024
Key assumptions:
Discount rate
  5.02%
  4.97%
4.88%

Assumptions used in determining the actuarial present value of the benefit obligation as of March 31, 2026 and 2025 were as follows:
March 31,
20262025
Key assumptions:
Discount rate
5.02%
4.97%