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Leases | 9 Months Ended
--- | ---
Dec. 31, 2024
Leases [Abstract] |
Leases | Leases 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 December 31, |  | Nine Months Ended December 31,
| 2024 |  | 2023 |  | 2024 |  | 2023
Operating lease cost, net of sublease income | $ | 509 |  |  | $ | 678 |  |  | $ | 1,755 |  |  | $ | 2,080 |
Variable lease cost | 13 |  |  | 16 |  |  | 22 |  |  | 81 |
Total lease cost | $ | 522 |  |  | $ | 694 |  |  | $ | 1,777 |  |  | $ | 2,161 |
During the second quarter of fiscal 2025, the Company executed a sublease for a portion of its Curative office space in Irving, Texas. Any impairment to the associated right-of-use assets and underlying property and equipment as a result of a sublease is recognized in the period the sublease is executed and recorded in the consolidated statements of operations. See Note 11 for further details. The sublease commenced in November 2024 and has a lease term of approximately 5.5 years. The Company has classified the sublease as an operating lease. Total lease payments under the sublease are $2.4 million over the lease term of the sublease. Sublease income is recognized as a reduction of lease expense in the Company’s consolidated statements of operations. Supplemental cash flow information related to leases was as follows (in thousands):
| Nine Months Ended December 31,
| 2024 |  | 2023
Cash paid for amounts included in measurement of lease liabilities—Operating cash flows | $ | 2,033 |  |  | $ | 1,648 |
Supplemental balance sheet information related to leases was as follows:
| December 31, 2024 |  | March 31, 2024
Weighted-average remaining lease term (in years) | 5.39 |  | 6.09
Weighted-average discount rate | 4.18 | % |  | 4.18 | %
Maturities of operating lease liabilities, excluding sublease income, as of December 31, 2024 were as follows (in thousands):
Remainder of 2025 | $ | 684 |
2026 | 2,687 |
2027 | 2,497 |
2028 | 2,605 |
2029 | 2,667 |
Thereafter | 3,385 |
Total future lease payments | $ | 14,525 |
Less: imputed interest | (1,578) |
Present value of lease liabilities | $ | 12,947 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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