NOTE 8—LEASES The Company has operating leases for corporate offices and research and development facilities. The Company’s leases have remaining lease terms of 2 months to 95 months, some of which include options to extend for up to 10 years. Supplemental balance sheet information related to leases was as follows: | | | | | | | | | As of | | As of | | | June 30, 2026 | | March 31, 2026 | | | | (In thousands) | Operating Leases | | | | | | | Operating lease right-of-use assets | | $ | 7,933 | | $ | 8,264 | | | | | | | | Lease liabilities-current | | $ | 1,359 | | $ | 1,488 | Lease liabilities-non-current | | | 6,806 | | | 6,978 | Total operating lease liabilities | | $ | 8,165 | | $ | 8,466 |
The following table provides the details of lease costs: | | | | | | | | | Three Months Ended June 30, | | | 2026 | | 2025 | | | | (In thousands) | Operating lease cost | | $ | 477 | | $ | 465 | Short-term lease cost | | | 7 | | | 7 | | | $ | 484 | | $ | 472 |
The following table provides other information related to leases: | | | | | | | | | Three Months Ended June 30, | | | 2026 | | 2025 | | | | (In thousands) | Cash paid for amounts included in the measurement of lease liabilities | | | | | | | Operating cash flows from operating leases | | $ | 449 | | $ | 428 | | | | | | | | Weighted-average remaining lease term (years): | | | | | | | Operating leases | | | 7.68 | | | 8.34 | | | | | | | | Weighted-average discount rate: | | | | | | | Operating leases | | | 6.34% | | | 6.24% |
The following table provides the maturities of the Company’s operating lease liabilities as of June 30, 2026: | | | | | | Operating Lease | | | Liabilities | Fiscal Year | | (In thousands) | 2027 (remaining nine months) | | $ | 1,097 | 2028 | | | 1,192 | 2029 | | | 1,220 | 2030 | | | 1,257 | 2031 | | | 1,294 | Thereafter | | | 4,358 | Total undiscounted future cash flows | | | 10,418 | Less: Imputed interest | | | (2,253) | Present value of undiscounted future cash flows | | $ | 8,165 | | | | | Presentation on statement of financial position | | | | Current | | $ | 1,359 | Non-current | | $ | 6,806 |
|