XML 33 R20.htm IDEA: XBRL DOCUMENT v3.25.2
Leases
 3 Months Ended
Jun. 30, 2025
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 June 30,
20252024
Operating lease cost, net of sublease income
$470 $631 
Variable lease cost15 6 
Total lease cost$485 $637 
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 condensed consolidated statements of operations.
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):
Three Months Ended June 30,
20252024
Cash paid for amounts included in measurement of lease liabilities—Operating cash flows$684 $666 
Supplemental balance sheet information related to leases was as follows:
June 30, 2025March 31, 2025
Weighted-average remaining lease term (in years)4.945.17
Weighted-average discount rate4.19 %4.19 %
Maturities of operating lease liabilities, excluding sublease income, as of June 30, 2025 were as follows (in thousands):
Remainder of 2026$2,004 
20272,497 
20282,605 
20292,667 
20302,706 
Thereafter679 
Total future lease payments$13,158 
Less: imputed interest(1,317)
Present value of lease liabilities$11,841