Debt (Tables)
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3 Months Ended |
Jun. 30, 2026 |
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| Debt Disclosure [Abstract] |
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| Schedule of Debt |
The following table summarizes borrowings under the Company’s debt obligations and the associated interest rates: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | March 31, 2026 | | | Amount | | Effective Rate | | Amount | | Effective Rate | | | | | | | | | | | Term loan A (due August 2029) | | $ | 285,000 | | | 11.2 | % | | $ | 285,000 | | | 11.7 | % | | Term loan B (due August 2029) | | 102,800 | | | 11.6 | | | 106,150 | | | 11.7 | | | Less: Original debt discount | | (14,704) | | | | | (11,917) | | | | | Less: Debt issuance costs | | (6,966) | | | | | (7,517) | | | | Less: Unamortized exit and duration fees | | (13,267) | | | | | (10,753) | | | | | Total debt, net | | 352,863 | | | | | 360,963 | | | | | Less: Current portion of long-term debt | | (9,375) | | | | | (7,031) | | | | | Long-term debt, net | | $ | 343,488 | | | | | $ | 353,932 | | | |
The components of the Company’s interest expense, net were as follows: | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | | | | 2026 | | 2025 | | | | | | | Interest expense on outstanding principal balances | | $ | (11,290) | | | $ | (8,788) | | | | | | | | Amortization of debt discount, issuance costs, and exit and duration fees | | (1,600) | | | (1,154) | | | | | | | | Unused line of credit fees | | — | | | (12) | | | | | | | | | Total interest expense, net | | $ | (12,890) | | | $ | (9,954) | | | | | | | |
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| Schedule of Unamortized Exit and Duration Fees |
The table below summarizes the changes in the Company’s unamortized exit and duration fees during the three months ended June 30, 2026: | | | | | | | | | | | | Balance as of March 31, 2026 | $ | 10,753 | | Exit and duration fees recognized over the effective interest method | 1,164 | | Exit and duration fees added to outstanding principal | 1,350 | | | Balance as of June 30, 2026 | $ | 13,267 | |
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| Schedule of Maturities of Long-Term Debt |
As of June 30, 2026, the future principal payments by fiscal year, for the outstanding debt, inclusive of both exit and duration fees, are as follows: | | | | | | | | | Fiscal year 2027 (remaining nine months) | $ | 7,031 | | Fiscal year 2028 | 9,376 | | Fiscal year 2029 | 9,376 | | Fiscal year 2030 | 362,017 | | | Total payments | $ | 387,800 | |
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| Schedule of Derivative Liabilities at Fair Value |
The table below is a summary of changes in the fair value of the Company’s valuations for the derivative liability for the three months ended June 30, 2026: | | | | | | | Balance as of March 31, 2026 | $ | 2,164 | | | Change in fair value | 10,799 | | | Balance as of June 30, 2026 | $ | 12,963 | |
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