v3.26.1
INCOME TAX (Tables)
 12 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
Schedule of Total Income Tax Expense (Benefit)
Income tax expense (benefit) (dollars in thousands):
For the twelve months ended March 31,
202620252024
Continuing operations$(46,712)$25,342 $24,270 
Discontinued operations(1,082)(2,131)(2,332)
$(47,794)$23,211 $21,938 
Schedule of Income before Income Tax, Domestic and Foreign
Income from continuing operations before income taxes (dollars in thousands):
For the twelve months ended March 31,
202620252024
U.S.$95,114 $18,431 $33,892 
Foreign2,950 4,409 469 
Total$98,064 $22,840 $34,361 
Schedule of Components of Income Tax Expense (Benefit)
Components of income tax expense (benefit) attributable to continuing operations (dollars in thousands): 
For the twelve months ended March 31,
202620252024
Current
Federal$4,986 $20,300 $21,014 
Foreign1,292 480 662 
State3,352 4,869 3,384 
9,630 25,649 25,060 
Deferred
Federal(31,165)23 (101)
Foreign(279)(300)(387)
State(24,898)(30)(302)
(56,342)(307)(790)
$(46,712)$25,342 $24,270 
Schedule of Effective Income Tax Rate Reconciliation
Reconciliation between expected income tax expense at the federal statutory rate and income tax expense (dollars in thousands): 
For the twelve months ended March 31,
202620252024
Income tax at federal statutory rate$20,593 21.0 %$4,797 21.0 %$7,216 21.0 %
State and local income taxes, net of federal tax effect(24,006)(24.5)%3,017 13.2 %2,032 5.9 %
Foreign tax effects
United Kingdom65 0.1 %(530)(2.3)%(360)(1.0)%
China(146)(0.2)%(203)(0.9)%(383)(1.1)%
Other491 0.5 %(178)(0.8)%(19)(0.1)%
Effect of cross-border tax laws89 0.1 %538 2.4 %(283)(0.8)%
Research & development tax credit(4,190)(4.3)%(6,030)(26.4)%(3,530)(10.3)%
Changes in valuation allowance(53,836)(54.9)%13,220 57.9 %13,346 38.8 %
Nontaxable and nondeductible items
Stock-based compensation6,691 6.8 %4,056 17.8 %2,013 5.9 %
Nondeductible meals & entertainment714 0.7 %588 2.6 %791 2.3 %
Nondeductible goodwill— — %— — %991 2.9 %
Other nondeductible items700 0.8 %584 2.5 %359 1.0 %
Changes in unrecognized tax benefits6,123 6.3 %5,483 24.0 %2,097 6.1 %
$(46,712)(47.6)%$25,342 111.0 %$24,270 70.6 %
Schedule of Cash Paid for Income Taxes Net of Refunds
Cash paid for income taxes, net of refunds (dollars in thousands):
For the twelve months ended March 31,
202620252024
Federal$1,047 $16,971 $(3,214)
State2,353 4,986 4,179 
Foreign563 591 1,500 
Total from continuing operations3,963 22,548 2,465 
State from discontinued operations(1,863)(2,486)(2,765)
$2,100 $20,062 $(300)
State and foreign jurisdictions where income taxes paid, net of refunds, exceed 5% of the total (dollars in thousands):
For the twelve months ended March 31,
202620252024
State
Arkansas$480 $— $— 
Maryland280 — 518 
Pennsylvania260 — 311 
Michigan230 — — 
Minnesota210 — 39 
Indiana150 — — 
North Carolina150 — — 
Tennessee130 — — 
Kentucky120 — — 
New Jersey(209)— — 
Illinois— — 1,057 
New York— — 898 
Other— — 577 
Arizona— — 432 
Alabama— — 179 
Iowa from discontinued operations(1,863)— — 
New York from discontinued operations— (2,486)— 
Massachusetts from discontinued operations— — (595)
Tennessee from discontinued operations— — (912)
Maryland from discontinued operations— — (1,258)
Foreign
France516 — — 
India176 — — 
UK(298)— 1,214 
Other— — 279 
Schedule of Deferred Tax Assets and Liabilities
Components of deferred tax assets and liabilities (dollars in thousands):  
March 31,
20262025
Deferred tax assets
Accrued expenses$5,101 $5,072 
Lease liabilities6,800 8,453 
Net operating loss carryforwards30,683 35,268 
Stock-based compensation7,797 8,734 
Nonqualified deferred compensation3,275 2,788 
Tax credit carryforwards12,800 10,641 
Capitalized research and development26,516 58,556 
Other6,526 2,236 
Total deferred tax assets99,498 131,748 
Less valuation allowance(20,634)(105,040)
Net deferred tax assets78,864 26,708 
Deferred tax liabilities
Prepaid expenses(3,733)(3,546)
Property and equipment(1,342)(1,412)
Right-of-use assets(3,912)(4,657)
Intangible assets(1,837)(4,019)
Deferred commissions(10,119)(11,153)
Other— (181)
Total deferred tax liabilities(20,943)(24,968)
Net deferred tax assets$57,921 $1,740 
Schedule of Unrecognized Tax Benefits Roll Forward
Changes in unrecognized tax benefits (dollars in thousands):
For the twelve months ended March 31,
202620252024
Balance at beginning of fiscal year$26,418 $22,922 $21,624 
Increases related to prior fiscal years2,720 460 741 
Decreases related to prior fiscal years— — (246)
Increases related to current fiscal year2,048 3,036 1,179 
Lapses of statutes of limitation— — (376)
Balance at end of fiscal year$31,186 $26,418 $22,922