Revenue Recognition and Business Concentrations (Tables)

12 Months Ended

Mar. 31, 2026

Net sales by channel were as follows:

Net sales by geography were as follows:

The following table summarizes changes in the estimated sales returns for the periods presented:


	Sales Return Asset	Sales Return Liability
Balance, March 31, 2024	$13,866	$(55,327)
Net additions to sales return liability (1)	74,150	(306,968)
Actual returns	(66,896)	298,833
Balance, March 31, 2025 (2)	21,120	(63,462)
Net additions to sales return liability (1)	81,681	(328,887)
Actual returns	(75,072)	312,294
Balance, March 31, 2026 (2)	$27,729	$(80,055)

(1) Net additions to the sales return liability include a provision for anticipated sales returns, which consists of both contractual

return rights and discretionary authorized returns.

(2) As of March 31, 2026, and 2025, the sales return liability includes $63,907 and $47,216, respectively, for the wholesale

channel and $16,148 and $16,246, respectively, for the DTC channel.

Activity related to loyalty programs for the contract liability recorded in other accrued

expenses in the consolidated balance sheets was as follows:


	Years Ended March 31,
	2026	2025
Beginning balance	$(18,566)	$(17,586)
Redemptions and expirations for loyalty certificates and points recognized in net sales	105,066	68,080
Deferred revenue for loyalty points and certificates issued	(107,500)	(69,060)
Ending balance	$(21,000)	$(18,566)

Activity related to deferred revenue for the contract

liability recorded in other accrued expenses in the consolidated balance sheets was as follows:


	Years Ended March 31,
	2026	2025
Beginning balance	$(27,305)	$(9,591)
Additions of customer cash payments	(100,874)	(80,732)
Revenue recognized	98,040	63,018
Ending balance	$(30,139)	$(27,305)