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Leases (Tables)
6 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Summary of Components of Lease Expenses

The components of lease expense are as follows:

 

 

 

Three Months Ended

 

 

 

September 30, 2025

 

 

September 30, 2024

 

Operating lease expense

 

$

2,088,000

 

 

$

2,304,000

 

Finance lease expense

 

 

 

 

 

20,000

 

Short-term lease expense

 

 

 

 

 

13,000

 

Variable lease expense

 

 

98,000

 

 

 

151,000

 

Total lease expenses

 

$

2,186,000

 

 

$

2,488,000

 

 

 

 

Six Months Ended

 

 

 

September 30, 2025

 

 

September 30, 2024

 

Operating lease expense

 

$

4,197,000

 

 

$

4,541,000

 

Finance lease expense

 

 

19,000

 

 

 

41,000

 

Short-term lease expense

 

 

 

 

 

109,000

 

Variable lease expense

 

 

306,000

 

 

 

287,000

 

Total lease expenses

 

$

4,522,000

 

 

$

4,978,000

 

 

Summary of Lease Related Assets and Liabilities Recorded in Balance Sheet Related to Operating Leases

The following table presents the lease related assets and liabilities recorded on the Company’s consolidated balance sheets related to its operating leases at September 30, 2025 and March 31, 2025:

 

 

 

September 30, 2025

 

 

March 31, 2025

 

Right-of-use asset, net

 

$

19,178,000

 

 

$

20,825,000

 

Short-term lease liability

 

$

7,317,000

 

 

$

8,126,000

 

Long-term lease liability

 

 

18,575,000

 

 

 

19,953,000

 

Total lease liabilities

 

$

25,892,000

 

 

$

28,079,000

 

Weighted average remaining operating lease term

 

3.91 years

 

 

4.01 years

 

Weighted average remaining finance lease term

 

 

 

 

0.25 years

 

Weighted average discount rate

 

 

4.8

%

 

 

4.5

%

 

Schedule of Supplemental Cash Flow Information Related to Operating Leases

Supplemental cash flow information related to operating leases for the six months ended September 30, 2025 and 2024 was as follows:

 

 

 

Six Months Ended

 

 

 

September 30, 2025

 

 

September 30, 2024

 

Cash paid for amounts included in the measurement of
   operating lease liabilities

 

$

4,699,000

 

 

$

3,996,000

 

Operating lease liabilities arising from obtaining ROU assets

 

$

45,629,000

 

 

$

51,648,000

 

Finance lease liabilities arising from obtaining ROU assets

 

$

 

 

$

358,000

 

Additions to ROU assets resulting from additions to
   operating lease liabilities

 

$

1,389,000

 

 

$

1,672,000

 

Summary of Maturities of Operating Lease Liabilities

As of September 30, 2025, maturities of operating lease liabilities for each of the next five years and thereafter are as follows:

 

 

 

 

 

2026

 

$

4,438,000

 

2027

 

 

7,711,000

 

2028

 

 

6,933,000

 

2029

 

 

4,742,000

 

2030

 

 

2,823,000

 

Thereafter

 

 

1,905,000

 

Total lease payments

 

 

28,552,000

 

Less interest

 

 

(2,660,000

)

Total lease liabilities

 

$

25,892,000