Income Taxes |
6 Months Ended |
|---|---|
Sep. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Note 9 — Income Taxes For the three and six months ended September 30, 2026, the Company recorded income tax provisions of $40.8 million and $63.9 million, respectively, resulting in effective tax rates of negative 51% and negative 64%, respectively. The effective tax rates for such periods differed from the U.S. statutory rate primarily due to a U.S. valuation allowance, foreign tax rate differences and foreign tax audit adjustments (totaling approximately $29.0 million and $44.1 million, respectively, for the three and six months ended September 30, 2026). For the three and six months ended September 30, 2025, the Company recorded income tax provisions of $10.9 million and $17.5 million, respectively, resulting in effective tax rates of negative 24% and negative 19%, respectively. The effective tax rates for these periods differed from the U.S. statutory rate primarily due to a U.S. valuation allowance and foreign tax rate differences. The Company's total valuation allowance increased from $435.0 million at March 31, 2026 to $510.0 million at September 30, 2026, relating to carryforwards of federal, state and foreign net operating losses, federal and state research and development tax credits, and foreign tax credits. For the three and six months ended September 30, 2026, the Company’s gross unrecognized tax benefits increased by $22.9 million and $26.6 million, respectively, and interest and penalties increased by $20.8 million and $32.6 million, respectively. Of the total $253.8 million gross unrecognized tax benefits at September 30, 2026, $18.3 million would reduce the Company's annual effective tax rate if recognized based on the Company's valuation allowance position at September 30, 2026. |