REVENUE RECOGNITION AND BUSINESS CONCENTRATIONS (Tables)

3 Months Ended

Jun. 30, 2026

Net sales by channel were as follows:

Net sales by geography were as follows:

The following tables summarize changes in the estimated sales returns for the periods presented:


	Sales Return Asset	Sales Return Liability
Balance, March 31, 2026	$27,729	$(80,055)
Net additions to sales return liability (1)	7,415	(39,046)
Actual returns	(16,619)	60,420
Balance, June 30, 2026	$18,525	$(58,681)


	Sales Return Asset	Sales Return Liability
Balance, March 31, 2025	$21,120	$(63,462)
Net additions to sales return liability (1)	7,369	(40,888)
Actual returns	(13,556)	55,508
Balance, June 30, 2025	$14,933	$(48,842)

(1) Net additions to the sales return liability include a provision for anticipated sales returns, which consists of both contractual

return rights and discretionary authorized returns.

Loyalty Programs. Activity related to loyalty programs was as follows:


	Three Months Ended June 30,
	2026	2025
Beginning balance	$(21,000)	$(18,566)
Redemptions and expirations for loyalty certificates and points recognized in net sales	6,066	4,994
Deferred revenue for loyalty points and certificates issued	(4,982)	(4,205)
Ending balance	$(19,916)	$(17,777)

Deferred Revenue. Activity related to deferred revenue was as follows:


	Three Months Ended June 30,
	2026	2025
Beginning balance	$(30,139)	$(27,305)
Additions of customer cash payments	(28,424)	(27,176)
Revenue recognized	29,029	25,573
Ending balance	$(29,534)	$(28,908)