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Leases | 12 Months Ended
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Mar. 31, 2025
Leases [Abstract] |
Leases | 6. Leases The majority of our leases are comprised of real estate leases for our respective offices around the globe. Our finance leases in fiscal year 2024 consisted of office equipment. We have no residual value guarantees or restrictions or covenants imposed by or associated with our active leases. As of March 31, 2025, we have an additional operating lease that has not yet commenced of approximately $0.9 million. This operating lease will commence in fiscal year 2027 with a lease term of approximately 2 years. We do not have any related party leases. We have variable payments for expenses such as common area maintenance and taxes. We do not have variable payments that are based on an index or rate. As a result, we do not include variable payments in the calculation of the lease liability. Any variable costs are expensed as incurred. We subleased one of our office leases located in Bellevue, Washington with a lease term that expired during fiscal year 2024. The components of lease expenses, which are included in operating expenses in our Consolidated Statements of Operations, were as follows:
|  | Year Ended March 31, |
(In thousands) |  | 2025 |  |  | 2024 |
Operating leases expense |  | $ | 5,084 |  |  | $ | 5,842 |
Finance lease expense: |  |  |  |  |  |
Amortization of ROU assets |  |  | — |  |  |  | 2 |
Total finance lease expense |  |  | — |  |  |  | 2 |
Variable lease costs |  |  | 413 |  |  |  | 470 |
Short term lease expense |  |  | 563 |  |  |  | 258 |
Sublease income |  |  | — |  |  |  | (654 | )
Total lease expense |  | $ | 6,060 |  |  | $ | 5,918 |
Other information related to leases for fiscal 2025 and 2024 was as follows:
|  | Year Ended March 31, |
Supplemental cash flow information |  | 2025 |  |  | 2024 |
Cash paid for amounts included in the measurement of lease liabilities (in thousands): |  |  |  |  |  |
Operating cash flows for operating leases |  | $ | 5,467 |  |  | $ | 5,197 |
Operating cash flows for finance leases |  | — |  |  |  | 5 |
Financing cash flows for finance leases |  | — |  |  |  | 2 |
ROU assets obtained in exchange for lease obligations (in thousands): |  |  |  |  |  |
Operating leases |  | $ | 2,351 |  |  | $ | 9,832 |
Weighted average remaining lease terms |  |  |  |  |  |
Operating leases |  |  | 5.78 |  |  |  | 6.69 |
Weighted average discount rates |  |  |  |  |  |
Operating leases |  |  | 6.91 | % |  |  | 7.05 | %
The table below reconciles the undiscounted future minimum lease payments (displayed by year and in the aggregate) under non-cancelable leases with terms of more than one year to the total lease liabilities recognized on the Consolidated Balance Sheet as of March 31, 2025:
(In thousands) |  | Operating leases |
Fiscal year ending March 31, |  |  |
2026 |  | $ | 5,883 |
2027 |  |  | 5,358 |
2028 |  |  | 4,998 |
2029 |  |  | 4,057 |
2030 |  |  | 1,730 |
Thereafter |  |  | 5,844 |
Total undiscounted future minimum lease payments |  |  | 27,870 |
Less: difference between undiscounted lease payments and discounted lease liabilities |  |  | (4,908 | )
Total lease liabilities |  | $ | 22,962 |

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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