v3.26.1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
 3 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

NOTE 10 – DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

The notional amounts and fair values of derivative instruments used to manage foreign cash flow exposures in the consolidated balance sheets at June 30, 2026 and March 31, 2026 were as follows (in thousands):

 

 

 

Notional Amounts (a)

 

 

Prepaid Expenses and Other Current Assets

 

 

Accrued Other

 

 

 

June 30, 2026

 

 

March 31, 2026

 

 

June 30, 2026

 

 

March 31, 2026

 

 

June 30, 2026

 

 

March 31, 2026

 

Derivatives designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forward contracts

 

$

11,387

 

 

$

11,023

 

 

$

18

 

 

$

22

 

 

$

306

 

 

$

258

 

 

 

$

11,387

 

 

$

11,023

 

 

$

18

 

 

$

22

 

 

$

306

 

 

$

258

 

 

(a) Notional amounts represent the gross contract/notional amount of the derivatives outstanding.

The following table provides the effect foreign exchange forward contracts had on other comprehensive income (loss), and results of operations for the three months ended June 30, 2026 and 2025 (in thousands):

 

 

 

Gain (Loss) Recognized in OCI on Derivative (a)

 

 

Gain (Loss) Reclassified from Accumulated OCI into Income (b)

 

 

 

June 30, 2026

 

 

June 30, 2025

 

 

Location

 

June 30, 2026

 

 

June 30, 2025

 

Forward contracts

 

$

(153

)

 

$

330

 

 

Research and development

 

$

49

 

 

$

(2

)

 

 

 

 

 

 

 

 

Sales and marketing

 

 

31

 

 

 

(168

)

 

 

$

(153

)

 

$

330

 

 

 

 

$

80

 

 

$

(170

)

 

(a)
The amount represents the change in fair value of derivative contracts due to changes in spot rates.
(b)
The amount represents reclassification from other comprehensive income (loss) to earnings that occurs when the hedged item affects earnings.

The Company had no forward exchange contracts not designated as hedging instruments during the three months ended June 30, 2026 and 2025.