v3.25.4

Restructuring

9 Months Ended

Dec. 31, 2025

Restructuring and Related Activities [Abstract]

Restructuring

Restructuring

We initiated a restructuring plan in the third quarter of fiscal 2026 ("Plan B") intended to optimize our cost structure, improve organizational agility, and better align resources with strategic priorities. These restructuring activities encompass workforce reductions, office lease closures and exit of operations in certain jurisdictions and are estimated to cost up to $30,000. We anticipate the plan to be completed in the first quarter of fiscal 2027. For the three and nine months ended December 31, 2025, restructuring charges were as follows:

			Three Months Ended December 31, 2025						Nine Months Ended December 31, 2025
Employee severance and related costs			$	10,085					$	10,085
Stock-based compensation			1,284						1,284
Lease exit costs (1)			34						34
Other costs			260						260
Total restructuring charges			$	11,663					$	11,663

(1) Lease exit costs relate to one office for the three and nine months ended December 31, 2025.

We initiated a restructuring plan in the first quarter of fiscal 2026 ("Plan A") intended to optimize our Business Technology organization. The objective of this plan is to realign the workforce, invest in emerging capabilities, modernize the technology landscape, and streamline operations to operate with greater agility and customer focus. We anticipate the workforce realignment and identification of planned technology changes will be completed in fiscal 2026, and the remaining activities under the restructuring plan, including the technology transitions, are expected to be completed in fiscal 2027. The majority of the workforce realignment costs were incurred in the first half of fiscal 2026. For the three and nine months ended December 31, 2025, restructuring charges were as follows:

			Three Months Ended December 31, 2025						Nine Months Ended December 31, 2025
Employee severance and related costs			$	170					$	1,350
Stock-based compensation			52						538
Total restructuring charges			$	222					$	1,888

In the fourth quarter of fiscal 2024, we initiated a restructuring plan (the "2024 Plan") which was completed in fiscal 2025. There were no charges incurred in fiscal 2026 related to this plan. For the three and nine months ended December 31, 2024, restructuring charges were $3,969 and $9,214, respectively.

Restructuring accrual

The accrual activity related to our restructuring plans for the nine months ended December 31, 2025 was as follows:

			Plan A						Plan B						2024 Plan						Total
Balance as of March 31, 2025			$	—					$	—					$	790					$	790
Employee severance and related costs			1,350						10,085						—						11,435
Payments			(1,159)						(2,829)						(767)						(4,755)
Balance as of December 31, 2025			$	191					$	7,256					$	23					$	7,470

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- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4.e)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
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-Section 50
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
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-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

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