XML 27 R20.htm IDEA: XBRL DOCUMENT
v3.25.2

Stock-Based Compensation and Stock Options (Tables) | 3 Months Ended
--- | ---
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Fair Value of Options Granted | The following assumptions were used to estimate the fair value of stock options granted during the three months ended June 30, 2025 and 2024, using the Black-Scholes option-pricing model:
|  | Three Months Ended
|  | June 30, 2025 |  | June 30, 2024
Risk-free interest rate |  | 4.07% |  | 4.40%
Expected volatility |  | 31% |  | 32%
Expected dividend yield |  | 0.00% |  | 0.00%
Expected weighted average life of option in years |  | 4.0 years |  | 4.0 years
Stock Compensation Expense for Time Based Options and Performance Based Options | The table below shows the amounts recognized in the unaudited consolidated financial statements for stock-based compensation expense for all stock options during the three months ended June 30, 2025 and 2024, respectively.
|  | Three Months Ended |
|  | June 30, 2025 |  |  | June 30, 2024 |
Cost of revenues |  | $ | 681,000 |  |  | $ | 715,000 |
General and administrative |  |  | 736,000 |  |  |  | 355,000 |
Total cost of stock-based compensation included in income before income tax provision |  |  | 1,417,000 |  |  |  | 1,070,000 |
Amount of income tax benefit recognized |  |  | (323,000 | ) |  |  | (246,000 | )
Amount charged against net income |  | $ | 1,094,000 |  |  | $ | 824,000 |
Effect on basic earnings per share |  | $ | (0.02 | ) |  | $ | (0.02 | )
Effect on diluted earnings per share |  | $ | (0.02 | ) |  | $ | (0.02 | )
Stock Options | The following table provides a summary of information for all stock option activity for the three months ended June 30, 2025 and 2024:
|  | Three Months Ended |
|  | June 30, 2025 |  |  | June 30, 2024 |
|  | Shares |  |  | Weighted Average Exercise Price |  |  | Shares |  |  | Weighted Average Exercise Price |
Options outstanding, beginning |  |  | 1,185,727 |  |  | $ | 51.07 |  |  |  | 1,469,181 |  |  | $ | 43.13 |
Options granted |  |  | 45,500 |  |  |  | 110.03 |  |  |  | 44,250 |  |  |  | 90.08 |
Options exercised |  |  | (54,889 | ) |  |  | 31.55 |  |  |  | (98,835 | ) |  |  | 31.79 |
Options cancelled/forfeited |  |  | (1,945 | ) |  |  | 73.67 |  |  |  | (7,095 | ) |  |  | 55.13 |
Options outstanding, ending |  |  | 1,174,393 |  |  | $ | 54.23 |  |  |  | 1,407,501 |  |  | $ | 45.34 |
Stock Options Outstanding and Exercisable | The following table provides summary information for all stock options outstanding and exercisable at June 30, 2025:
Range of Exercise Price |  | Outstanding Options – Number of Outstanding Options |  |  | Outstanding Options – Weighted Average Remaining Contractual Life |  |  | Outstanding Options – Weighted Average Exercise Price |  |  | Exercisable Options – Number of Exercisable Options |  |  | Exercisable Options – Weighted Average Exercise Price |
$11.05 to $29.23 |  |  | 298,869 |  |  |  | 2.11 |  |  | $ | 22.51 |  |  |  | 298,869 |  |  | $ | 22.51 |
$29.24 to $52.00 |  |  | 350,319 |  |  |  | 2.31 |  |  |  | 48.98 |  |  |  | 230,565 |  |  |  | 47.78 |
$52.01 to $66.85 |  |  | 323,667 |  |  |  | 2.99 |  |  |  | 62.32 |  |  |  | 177,237 |  |  |  | 61.76 |
$66.86 to $110.18 |  |  | 201,538 |  |  |  | 4.83 |  |  |  | 97.39 |  |  |  | 26,123 |  |  |  | 80.57 |
Total |  |  | 1,174,393 |  |  |  | 2.88 |  |  | $ | 54.23 |  |  |  | 732,794 |  |  | $ | 42.02 |
Outstanding Options | The following table provides summary information regarding all stock options outstanding at June 30, 2025, and changes during the three months then ended:
|  | Number of Options |  |  | Weighted Average Exercise Price Per Share |  |  | Weighted Average Remaining Contractual Life (Years) |  |  | Aggregate Intrinsic Value as of June 30, 2025 |
Options outstanding at April 1, 2025 |  |  | 1,185,727 |  |  | $ | 51.07 |  |  |  |  |  |  |
Granted |  |  | 45,500 |  |  |  | 110.03 |  |  |  |  |  |  |
Exercised |  |  | (54,889 | ) |  |  | 31.55 |  |  |  |  |  |  |
Cancelled – forfeited |  |  | (1,945 | ) |  |  | 73.67 |  |  |  |  |  |  |
Cancelled – expired |  |  | — |  |  |  | — |  |  |  |  |  |  |
Ending outstanding |  |  | 1,174,393 |  |  | $ | 54.23 |  |  |  | 2.88 |  |  | $ | 57,735,303 |
Ending vested and expected to vest |  |  | 1,082,966 |  |  | $ | 53.54 |  |  |  | 2.88 |  |  | $ | 53,959,166 |
Ending exercisable at June 30, 2025 |  |  | 732,794 |  |  | $ | 42.02 |  |  |  | 2.32 |  |  | $ | 44,522,423 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (e)(1) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding and exercisable options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAndExercisableTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration