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