v3.26.1
Fair Value Measurements
 12 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The following tables show our cash, cash equivalents and marketable securities at fair value as of March 31, 2026 and 2025 (in thousands):
March 31, 2026
Level 1Level 2Level 3Total
Assets:
Cash and cash equivalents:
Cash and money market funds$30,789 $— $— $30,789 
Marketable securities
U.S. treasury securities— 14,614 — 14,614 
Total$30,789 $14,614 $— $45,403 
March 31, 2025
Level 1Level 2Level 3Total
Assets:
Cash and cash equivalents:
Cash and money market funds$67,131 $— $— $67,131 
Marketable securities
U.S. treasury securities— 13,351 — 13,351 
Total$67,131 $13,351 $— $80,482 
The carrying amounts of our prepaid and other current assets, accounts payable, and accrued liabilities, approximate fair value due to their short term nature. We had no financial liabilities measured at fair value on a recurring basis at March 31, 2026 or 2025. There were no transfers between Levels 1, 2 or 3 for any of the periods presented.
Our marketable securities consist solely of U.S. Treasury notes, for which the expected credit loss is considered to be zero. Accordingly, no allowance for credit losses has been recorded on our available-for-sale debt securities as of March 31, 2026 or 2025.
The following table summarizes our marketable securities as of March 31, 2026 and 2025 (in thousands):

March 31, 2026
Maturity (in years)Amortized CostUnrealized GainsUnrealized LossesFair Value
U.S. treasury notesLess than 1$14,616 $2 $(4)$14,614 
Total$14,616 $2 $(4)$14,614 

March 31, 2025
Maturity (in years)Amortized CostUnrealized GainsUnrealized LossesFair Value
U.S. treasury notesLess than 1$13,346 $5 $— $13,351 
Total$13,346 $5 $— $13,351