v3.26.1
LEASES
 12 Months Ended
Mar. 31, 2026
Leases [Abstract]  
LEASES LEASES
The Company has operating leases for its offices and fulfillment centers. Fulfillment and customer service centers and corporate office leases expire at various dates through 2038, excluding renewal options.
The Company also leases certain equipment under operating and finance leases. The terms of equipment leases are generally five years and do not contain renewal options. These finance leases expire at various dates through 2028.
The Company’s finance leases as of March 31, 2026 and March 31, 2025 were not material and were included in property and equipment, net, on the Company’s consolidated balance sheets.
The following schedule represents the components of the Company’s operating lease assets as of March 31, 2026 and 2025 (in thousands):
March 31,
LeasesConsolidated Balance Sheets Location20262025
Assets
OperatingOperating lease right-of-use assets$24,799 $28,277 
Total operating lease assets
$24,799 $28,277 
Liabilities
Operating lease liabilities (current)Operating lease liabilities, current$5,211 $5,798 
Operating lease liabilities (non-current)Operating lease liabilities$32,466 $36,802 
Total operating lease liabilities
$37,677 $42,600 
The following schedule represents the components of operating lease expense for the fiscal years ended March 31, 2026 and 2025 (in thousands):
Fiscal Year Ended
Consolidated Statements of Operations and
Comprehensive Loss Location		March 31, 2026March 31, 2025
Operating lease costsGeneral and administrative$7,110 $7,096 
Short-term lease costs
General and administrative
24 63 
Sublease incomeOther income(1,202)(611)
Total lease costs$5,932 $6,548 
As of March 31, 2026, the Company’s maturity of operating lease liabilities in the years through March 31, 2030, and thereafter are as follows (in thousands):
Operating Leases
2027$8,568 
20288,819 
20299,155 
20305,854 
20315,444 
Thereafter26,063 
Total lease payments63,903 
Less: imputed interest(26,226)
Present value of lease liabilities$37,677 
Other operating leases information:
March 31, 2026March 31, 2025
Cash paid for amounts included in the measurement of lease liabilities$8,555 $8,476 
Right-of-use assets obtained in exchange for new lease liabilities$794 $— 
Weighted-average remaining term (years)9.49.7
Weighted average discount rate7.3 %7.1 %
 The Company has entered into a lease agreement for the relocation of its corporate headquarters which commenced on February 1, 2026. The lease term is for 3 years. The estimated average annual lease payments under this agreement are $0.3 million.
In January 2026, the Company entered into a sublease agreement for its former headquarters at 120 Broadway, Floor 12, New York, New York, 10271. The term of the Sublease is approximately seven years and began on February 1, 2026, the date the Company commenced business operations at its new premises. The agreement includes an extension option at the subtenant’s discretion for an additional five years through 2038. The sublease provides for monthly base rent of approximately $0.2 million per month for the first year with annual increases thereafter. There was no impairment recorded in connection with the sublease. The Company recorded $0.5 million of fixed asset disposal costs in connection with the change in headquarters.
LEASES LEASES
The Company has operating leases for its offices and fulfillment centers. Fulfillment and customer service centers and corporate office leases expire at various dates through 2038, excluding renewal options.
The Company also leases certain equipment under operating and finance leases. The terms of equipment leases are generally five years and do not contain renewal options. These finance leases expire at various dates through 2028.
The Company’s finance leases as of March 31, 2026 and March 31, 2025 were not material and were included in property and equipment, net, on the Company’s consolidated balance sheets.
The following schedule represents the components of the Company’s operating lease assets as of March 31, 2026 and 2025 (in thousands):
March 31,
LeasesConsolidated Balance Sheets Location20262025
Assets
OperatingOperating lease right-of-use assets$24,799 $28,277 
Total operating lease assets
$24,799 $28,277 
Liabilities
Operating lease liabilities (current)Operating lease liabilities, current$5,211 $5,798 
Operating lease liabilities (non-current)Operating lease liabilities$32,466 $36,802 
Total operating lease liabilities
$37,677 $42,600 
The following schedule represents the components of operating lease expense for the fiscal years ended March 31, 2026 and 2025 (in thousands):
Fiscal Year Ended
Consolidated Statements of Operations and
Comprehensive Loss Location		March 31, 2026March 31, 2025
Operating lease costsGeneral and administrative$7,110 $7,096 
Short-term lease costs
General and administrative
24 63 
Sublease incomeOther income(1,202)(611)
Total lease costs$5,932 $6,548 
As of March 31, 2026, the Company’s maturity of operating lease liabilities in the years through March 31, 2030, and thereafter are as follows (in thousands):
Operating Leases
2027$8,568 
20288,819 
20299,155 
20305,854 
20315,444 
Thereafter26,063 
Total lease payments63,903 
Less: imputed interest(26,226)
Present value of lease liabilities$37,677 
Other operating leases information:
March 31, 2026March 31, 2025
Cash paid for amounts included in the measurement of lease liabilities$8,555 $8,476 
Right-of-use assets obtained in exchange for new lease liabilities$794 $— 
Weighted-average remaining term (years)9.49.7
Weighted average discount rate7.3 %7.1 %
 The Company has entered into a lease agreement for the relocation of its corporate headquarters which commenced on February 1, 2026. The lease term is for 3 years. The estimated average annual lease payments under this agreement are $0.3 million.
In January 2026, the Company entered into a sublease agreement for its former headquarters at 120 Broadway, Floor 12, New York, New York, 10271. The term of the Sublease is approximately seven years and began on February 1, 2026, the date the Company commenced business operations at its new premises. The agreement includes an extension option at the subtenant’s discretion for an additional five years through 2038. The sublease provides for monthly base rent of approximately $0.2 million per month for the first year with annual increases thereafter. There was no impairment recorded in connection with the sublease. The Company recorded $0.5 million of fixed asset disposal costs in connection with the change in headquarters.