v3.26.1
REVENUE RECOGNITION
 3 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION REVENUE RECOGNITION
Refer to Note 20 to our consolidated financial statements included in our Annual Report for a description of our disaggregation of revenues. Disaggregation of revenues reconciled to our reportable segments is as follows (in thousands):

Three Months Ended June 30, 2026
Contractor SolutionsSpecialized Reliability SolutionsEngineered Building SolutionsTotal
Build-to-order$— $— $24,406 $24,406 
Book-and-ship273,596 48,141 4,507 326,244 
Net revenues$273,596 $48,141 $28,913 $350,650 

Three Months Ended June 30, 2025
Contractor SolutionsSpecialized Reliability SolutionsEngineered Building SolutionsTotal
Build-to-order$— $— $28,426 $28,426 
Book-and-ship194,975 36,775 3,470 235,220 
Net revenues$194,975 $36,775 $31,896 $263,646 


As of June 30, 2026 and March 31, 2026, accounts receivable, net balances were $233.3 million and $210.3 million, respectively. As of June 30, 2025 and March 31, 2025, accounts receivable, net balances were $179.4 million and $155.7 million, respectively. The following table summarizes the activity in the allowance for credit losses (in thousands):

June 30, 2026June 30, 2025
Balance at beginning of the fiscal year:$2,314 $1,137 
Reserve188 72 
Write offs, net of recoveries(76)(340)
Ending balance$2,426 $869 

Contract Balances

We receive payment from customers based on a contractual billing schedule and specific performance requirements as established in our contracts. We record billings as accounts receivable when an unconditional right to consideration exists. Contract liability represents our contractual billings in advance of revenue recognized for a contract and is included in accrued and other current liabilities in our consolidated balance sheets were as follows (in thousands):
June 30, 2026June 30, 2025
Balance at beginning of the fiscal year:$1,544 $932 
Revenue recognized during the period(630)(395)
New contracts and revenue added to existing contracts during the period348 753 
Ending balance$1,262 $1,290