v3.25.4
Goodwill and intangible assets
 9 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and intangible assets Goodwill and intangible assets
Goodwill
During the nine-month period ended December 31, 2025, additions to the Company’s goodwill are driven by its acquisitions of Bentek Corporation (“Bentek”), OnSight Technology, Inc. (“OnSight”), Origami Solar, Inc., (“Origami”) and Fracsun Inc. (“Fracsun”), as further described in Note 11.
The following table summarizes the activity in the Company’s goodwill during the nine-month period ended December 31, 2025 (in thousands):
Balance as of March 31, 2025$371,018
Additions114,282 
Balance as of December 31, 2025$485,300
Other intangible assets
During the nine-month period ended December 31, 2025, the total gross value of other intangible assets increased by $35.6 million, primarily consisting of $32.2 million of developed technology and $3.3 million of trade names and customer relationships. This increase is primarily driven by the recent business acquisitions as further described in Note 11.
The components of identifiable intangible assets are as follows:
As of December 31, 2025As of March 31, 2025
Gross
carrying
amount		Accumulated
amortization		Net
carrying
amount		Gross
carrying
amount		Accumulated
amortization		Net
carrying
amount
(In thousands)
Developed technology$71,443$(6,913)$64,530$39,200$(2,394)$36,806
Customer relationships19,159(5,563)13,59618,000(2,779)15,221
Trade names and other intangibles
5,199(2,748)2,4513,018(1,804)1,214
Total
$95,801$(15,224)$80,577$60,218$(6,977)$53,241
The gross carrying amount of other intangible assets are removed when fully amortized. Total intangible asset amortization expense recognized in operations during the three and nine-month periods ended December 31, 2025 and December 31, 2024 was as follows:
Three-month periods endedNine-month periods ended
December 31, 2025December 31, 2024December 31, 2025December 31, 2024
(In thousands)
Cost of sales
$1,976$880$4,784$1,864
Selling general and administrative expense
1,2969003,4651,879
Total amortization expense
$3,272$1,780$8,249$3,743
The estimated future annual amortization expense for the acquired finite-lived intangible assets as of December 31, 2025 is as follows:
Fiscal year ending March 31,Amount
(In thousands)
2026 (1)$3,749
202712,739
202811,484
202911,116
20308,162
Thereafter33,309
Total amortization expense
$80,559
(1)Represents estimated amortization for the remaining fiscal three-month period ending March 31, 2026.