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Leases
 12 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Leases Leases
The Company leases office space under non-cancelable operating leases which expire at various dates from fiscal 2025 to 2033. As of March 31, 2024, the weighted average remaining lease term was 5.8 years and the weighted average discount rate was 4.5%. The Company does not have any finance leases.
The Company has a sublease of a former office which expires in fiscal 2025. Sublease income from operating leases, which is recorded as a reduction of rental expense, was $2.3 million for the years ended March 31, 2024 and 2023, and $2.5 million for the year ended March 31, 2022.
The following table presents information about leases on the consolidated statements of operations (in thousands):
Fiscal Year Ended March 31,
202420232022
Operating lease expense (1)
$15,522 $12,908 $10,899 
Short-term lease expense
$2,033 $1,847 $1,009 
Variable lease expense
$1,585 $891 $793 
_________________
(1) Presented gross of sublease income.
The following table presents supplemental cash flow information about the Company’s leases (in thousands):
Fiscal Year Ended March 31,
202420232022
Cash paid for amounts included in the measurement of lease liabilities$18,908 $16,098 $13,466 
Operating lease assets obtained in exchange for new operating lease liabilities$10,470 $24,323 $29,112 
As of March 31, 2024, remaining maturities of lease liabilities were as follows (in thousands):
Fiscal Years Ending March 31,Amount
2025$18,020 
202614,602 
202713,154 
20288,846 
20296,719 
Thereafter16,595 
Total operating lease payments (1)
77,936 
Less: imputed interest(8,410)
Total operating lease liabilities$69,526 
_________________
(1) Presented gross of sublease income.
As of March 31, 2024, the Company had commitments of $104.4 million for operating leases that have not yet commenced, and therefore are not included in the right-of-use assets or operating lease liabilities. These operating leases are expected to commence during the fiscal years ending March 31, 2025 through March 31, 2026, with lease terms ranging from 2 to 10 years.
Leases Leases
The Company leases office space under non-cancelable operating leases which expire at various dates from fiscal 2025 to 2033. As of March 31, 2024, the weighted average remaining lease term was 5.8 years and the weighted average discount rate was 4.5%. The Company does not have any finance leases.
The Company has a sublease of a former office which expires in fiscal 2025. Sublease income from operating leases, which is recorded as a reduction of rental expense, was $2.3 million for the years ended March 31, 2024 and 2023, and $2.5 million for the year ended March 31, 2022.
The following table presents information about leases on the consolidated statements of operations (in thousands):
Fiscal Year Ended March 31,
202420232022
Operating lease expense (1)
$15,522 $12,908 $10,899 
Short-term lease expense
$2,033 $1,847 $1,009 
Variable lease expense
$1,585 $891 $793 
_________________
(1) Presented gross of sublease income.
The following table presents supplemental cash flow information about the Company’s leases (in thousands):
Fiscal Year Ended March 31,
202420232022
Cash paid for amounts included in the measurement of lease liabilities$18,908 $16,098 $13,466 
Operating lease assets obtained in exchange for new operating lease liabilities$10,470 $24,323 $29,112 
As of March 31, 2024, remaining maturities of lease liabilities were as follows (in thousands):
Fiscal Years Ending March 31,Amount
2025$18,020 
202614,602 
202713,154 
20288,846 
20296,719 
Thereafter16,595 
Total operating lease payments (1)
77,936 
Less: imputed interest(8,410)
Total operating lease liabilities$69,526 
_________________
(1) Presented gross of sublease income.
As of March 31, 2024, the Company had commitments of $104.4 million for operating leases that have not yet commenced, and therefore are not included in the right-of-use assets or operating lease liabilities. These operating leases are expected to commence during the fiscal years ending March 31, 2025 through March 31, 2026, with lease terms ranging from 2 to 10 years.