Stock Options and Stock-Based Compensation (Tables)
|
12 Months Ended |
Mar. 31, 2026 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| Schedule of Weighted Average Assumptions |
The following weighted average assumptions were used for the fiscal years ended March 31, 2026, 2025 and 2024:
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Fiscal 2026 |
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Fiscal 2025 |
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Fiscal 2024 |
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Expected volatility |
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|
34 |
% |
|
|
32 |
% |
|
|
34 |
% |
Risk free interest rate |
|
3.67% to 4.23% |
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|
3.89% to 4.59% |
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|
3.91% to 4.65% |
|
Dividend yield |
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|
0.0 |
% |
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|
0.0 |
% |
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|
0.0 |
% |
Weighted average option life |
|
3.9 to 4.0 years |
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|
3.9 to 4.0 years |
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|
4.0 to 4.1 years |
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| Stock Compensation Expense for Time Based Options and Performance Based Options |
The table below shows the amounts recognized in the financial statements for the fiscal years ended March 31, 2026, 2025 and 2024.
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Fiscal 2026 |
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Fiscal 2025 |
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Fiscal 2024 |
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Cost of revenue |
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$ |
2,641,000 |
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|
$ |
2,794,000 |
|
|
$ |
2,797,000 |
|
General and administrative |
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|
2,770,000 |
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|
|
2,920,000 |
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|
2,185,000 |
|
Total cost of stock-based compensation
included in income before income taxes |
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|
5,411,000 |
|
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|
5,714,000 |
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|
|
4,982,000 |
|
Amount of income tax benefit recognized |
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|
(1,241,000 |
) |
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|
(1,256,000 |
) |
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|
(987,000 |
) |
Amount charged to net income |
|
$ |
4,170,000 |
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|
$ |
4,458,000 |
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|
$ |
3,995,000 |
|
Effect on basic earnings per share |
|
$ |
0.08 |
|
|
$ |
0.09 |
|
|
$ |
0.08 |
|
Effect on diluted earnings per share |
|
$ |
0.08 |
|
|
$ |
0.09 |
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|
$ |
0.08 |
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|
| Schedule of Stock Options Outstanding and Exercisable |
The following table summarizes the status of stock options outstanding and exercisable at March 31, 2026:
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Range of
Exercise Prices |
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Number of
Outstanding
Options |
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Weighted
Average
Remaining
Contractual
Life |
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|
Outstanding
Options –
Weighted
Average
Exercise Price |
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|
Exercisable
Options –
Number of
Exercisable
Options |
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|
Exercisable
Options –
Weighted
Average
Exercise Price |
|
$14.44 to $51.01 |
|
|
303,116 |
|
|
|
2.09 |
|
|
$ |
35.75 |
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|
298,373 |
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|
$ |
35.53 |
|
$51.02 to $53.08 |
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329,370 |
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|
3.68 |
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|
52.73 |
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104,890 |
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|
52.10 |
|
$53.09 to $74.09 |
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|
325,404 |
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|
2.43 |
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64.56 |
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231,802 |
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|
63.99 |
|
$74.10 to $110.18 |
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238,393 |
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|
4.53 |
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|
93.78 |
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|
37,895 |
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|
99.48 |
|
Total |
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1,196,283 |
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|
3.11 |
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|
$ |
59.83 |
|
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|
672,960 |
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|
$ |
51.52 |
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| Schedule of status of all Outstanding Options |
The following table summarizes the status of all outstanding options at March 31, 2026, and changes during the fiscal year then ended:
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|
Number of
Options |
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|
Weighted
Average
Exercise
Price per
Share |
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|
Weighted Average
Remaining
Contractual Life
(Years) |
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|
Aggregate
Intrinsic Value
as of March 31, 2026 |
|
Options outstanding, March 31, 2025 |
|
|
1,185,727 |
|
|
$ |
51.07 |
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Granted |
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|
348,600 |
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|
66.51 |
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Exercised |
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(317,046 |
) |
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|
33.32 |
|
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Cancelled – forfeited |
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(19,364 |
) |
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|
76.39 |
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Cancelled – expired |
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(1,634 |
) |
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|
79.43 |
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Options outstanding, March 31, 2026 |
|
|
1,196,283 |
|
|
$ |
59.83 |
|
|
|
3.11 |
|
|
$ |
6,369,271 |
|
Options vested and expected to vest |
|
|
1,164,506 |
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|
$ |
59.25 |
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|
3.09 |
|
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$ |
6,369,271 |
|
Ending exercisable |
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|
672,960 |
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|
$ |
51.52 |
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|
2.13 |
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$ |
5,978,576 |
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