v3.26.3
Changes in Shareholders’ Equity
 6 Months Ended
Sep. 30, 2026
Equity [Abstract]  
Changes in Shareholders’ Equity
Note 8: Changes in Shareholders’ Equity
Changes in Shareholders’ Equity for the three and six months ended September 30, 2026 are summarized below (in thousands):
Common StockAdditional
Paid-In
Capital		Retained
Earnings
ShareAmounts
Beginning balance at March 31, 2026:21,386$21 $19,647 $9,263 
Net share settlement of restricted stock units297 1 (5)— 
Share-based compensation expense— — 198 — 
Net loss— — — (6,145)
Ending balance at June 30, 2026:21,683$22 $19,840 $3,118 
Net share settlement of restricted stock units449— (19)— 
Share-based compensation expense— — 326 — 
Net loss— — — (6,434)
Ending balance at September 30, 2026:22,132$22 $20,147 $(3,316)
Changes in Shareholders’ Equity for the three and six months ended September 30, 2025 are summarized below (in thousands):
Common StockAdditional
Paid-In
Capital		Retained
Earnings
ShareAmounts
Beginning balance at March 31, 2025:20,657$21 $18,560 $66,544 
Net share settlement of restricted stock units178 — (28)— 
Share-based compensation expense— — 591 — 
Dividends forfeited— — — 1 
Net loss— — — (34,152)
Ending balance at June 30, 2025:20,835$21 $19,123 $32,393 
Net share settlement of restricted stock units180—$(209)—
Share-based compensation expense— — 247 — 
Net loss— — — (8,520)
Ending balance at September 30, 2025:21,016$21 $19,161 $23,873 
There were 14,579 and 76,064 shares of common stock that were purchased or retired in the six months ended September 30, 2026 and 2025.
On December 2, 2024, the Board of Directors adopted a Rights Agreement, which was amended on November 26, 2025, to extend the expiration date of the rights granted thereunder through December 2, 2026. The Rights Agreement provides for a dividend distribution of one right for each outstanding share of common stock, subject to certain exercise, redemption, and expiration terms. There have been no material changes to the terms and conditions of the Rights Agreement from those previously disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2026.