XML 32 R22.htm IDEA: XBRL DOCUMENT

Leases

6 Months Ended

Sep. 30, 2023

The Company has non-cancelable operating leases for the rental of office space with various expiration dates through 2030.

The components of lease expense were as follows (in thousands):


	Three Months Ended September 30,				Six Months Ended September 30,
	2023		2022		2023		2022
Operating lease cost	$	701	$	701	$	1,402	$	1,190
Variable lease cost	45		133		65		173
Total lease cost	$	746	$	834	$	1,467	$	1,363

Supplemental cash flow information related to leases was as follows (in thousands):


	Six Months Ended September 30,
	2023		2022
Cash paid for amounts included in measurement of lease liabilities—Operating cash flows	$	907	$	389

Supplemental balance sheet information related to leases was as follows:


	September 30, 2023		March 31, 2023
Weighted-average remaining lease term (in years)	6.68		7.06
Weighted-average discount rate	4.19	%	4.18	%

Maturities of operating lease liabilities as of September 30, 2023 were as follows (in thousands):


Remainder of 2024	$	1,331
2025	2,411
2026	2,458
2027	2,497
2028	2,605
Thereafter	6,052
Total future lease payments	$	17,354
Less: imputed interest	(2,300)
Present value of lease liabilities	$	15,054