v3.26.1
Variable Interest Entities - VIE Financials (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2024
 [3]
Assets:      
Cash and cash equivalents $ 2,543 $ 1,346 [1]  
Investments, at fair value 195,536 291,371  
Other assets 9,127 49,144 [1]  
Total assets 238,772 354,875 [1]  
Liabilities:      
Accounts payable and accrued expense 63,788 100,345 [1]  
Other liabilities 176,651 80,806 [1]  
Total liabilities 337,532 299,274 [1]  
Equity:      
Treasury stock (3,444) (3,444) [1]  
Noncontrolling interests 24,733 132,076 [1]  
Accumulated other comprehensive income (loss) 52 (2) [1]  
Total equity (deficit) (189,286) [2] (34,925) [1],[3] $ (192,118)
Revenues      
Investment income (loss), net (49,532) (6,500)  
Gain (loss) on financial instruments, net 9,774 (2,242)  
Other income 0 2  
Interest income (39,125) (7,943)  
Operating expenses      
Provision for credit losses 1,048 1,000  
Professional services 21,054 23,235  
Other expenses 8,708 11,529  
Total operating expenses 127,387 16,242  
Net income (loss) (164,730) (803)  
Net income (loss) attributable to noncontrolling interests (96,222) (69,789)  
Variable Interest Entity, Primary Beneficiary      
Assets:      
Investments, at fair value 195,536 291,371 [1]  
Operating expenses      
Net income (loss) attributable to noncontrolling interests (25,639) (34,914)  
Variable Interest Entity, Primary Beneficiary | Customer ExAlt Trusts      
Assets:      
Cash and cash equivalents 2,186 717  
Investments, at fair value 195,536 291,371  
Other assets 264 378  
Total assets 197,986 292,466  
Liabilities:      
Accounts payable and accrued expense 3,026 3,107  
Other liabilities 136 95  
Total liabilities 3,162 3,202  
Equity:      
Treasury stock (3,444) (3,444)  
Noncontrolling interests (228,743) (201,518)  
Accumulated other comprehensive income (loss) 54 (2)  
Total equity (deficit) (232,133) (204,964)  
Revenues      
Investment income (loss), net (49,532) (6,500)  
Gain (loss) on financial instruments, net 358 (1,776)  
Other income 0 2  
Interest income (49,174) (8,274)  
Operating expenses      
Provision for credit losses 0 998  
Professional services 1,880 2,137  
Other expenses 987 794  
Total operating expenses 2,867 3,929  
Net income (loss) (52,041) (12,203)  
Net income (loss) attributable to noncontrolling interests $ (25,639) $ (34,914)  
[1]
(1) Periods presented have been adjusted to reflect the 1-for-8 reverse stock split on December 15, 2025. See Note 1 - Summary of Significant Accounting Policies - Reverse Stock Split, for additional information.
[2] Periods presented have been adjusted to reflect the 1-for-8 reverse stock split on December 15, 2025. See Note 1 - Summary of Significant Accounting Policies - Reverse Stock Split, for additional information.
[3] Periods presented have been adjusted to reflect the 1-for-8 reverse stock split on December 15, 2025. See Note 1 - Summary of Significant Accounting Policies - Reverse Stock Split, for additional information.