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v3.26.1

Income Taxes (Tables) | 12 Months Ended
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Mar. 31, 2026
Income Tax Disclosure [Abstract] |
Schedule of income from continuing operations before income taxes | For the year ended March 31, income before income taxes consisted of the following:
(In thousands) |  | 2026 |  |  | 2025 |  |  | 2024 |
Income before income taxes |  |  |  |  |  |  |  |  |
United States |  | $ | 41,197 |  |  | $ | 10,837 |  |  | $ | 12,492 |
Foreign |  |  | 7,211 |  |  |  | 14,798 |  |  |  | 8,192 |
Total income before income taxes |  | $ | 48,408 |  |  | $ | 25,635 |  |  | $ | 20,684 |
Schedule of income tax expense (benefit) | For the year ended March 31, income tax expense (benefit) consisted of the following:
(In thousands) |  | 2026 |  |  | 2025 |  |  | 2024 |
Income tax provision (benefit) |  |  |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |  |  |
Federal |  | $ | — |  |  | $ | — |  |  | $ | — |
State and local |  |  | 358 |  |  |  | 601 |  |  |  | 370 |
Foreign |  |  | 1,363 |  |  |  | 2,493 |  |  |  | 1,884 |
Deferred: |  |  |  |  |  |  |  |  |
Federal |  |  | 6,510 |  |  |  | 2,488 |  |  |  | (57,065 | )
State and local |  |  | 1,986 |  |  |  | (227 | ) |  |  | (8,131 | )
Foreign |  |  | (600 | ) |  |  | (2,945 | ) |  |  | (2,569 | )
Income tax provision (benefit) |  | $ | 9,617 |  |  | $ | 2,410 |  |  | $ | (65,511 | )
Summary of Income Taxes Paid | For the year ended March 31, income taxes paid consisted of the following:
(In thousands) |  | 2026 |
Income taxes paid |  |  |
U.S. Federal |  | $ | — |
U.S. State and Local |  |  |
California |  |  | 125 |
Other* |  |  | 658 |
Foreign |  |  |
India |  |  | 1,136 |
Other* |  |  | 147 |
Total income tax paid |  | $ | 2,066 |
*For the year ended March 31, 2026, there were no other individual jurisdictions with cash taxes paid that equaled or exceeded 5% of total income tax paid.
Schedule of effective income tax rate reconciliation | The following tables present the principal components of the difference between the effective tax rate and the U.S. federal statutory income tax rate for the years ended March 31:
(In thousands) |  | 2026 |  |  | % |
Income tax expense at the U.S. federal statutory rate |  | $ | 10,165 |  |  |  | 21.0 | %
Expense for state taxes, net of federal effect |  |  | 1,264 |  |  |  | 2.6 |
Impact of foreign operations - India |  |  | 585 |  |  |  | 1.2 |
Impact of foreign operations - other |  |  | (775 | ) |  |  | (1.6 | )
Share-based compensation |  |  | (1,710 | ) |  |  | (3.5 | )
U.S. federal R&D credits |  |  | (808 | ) |  |  | (1.7 | )
Effects of cross border tax laws: NCTI |  |  | 1,338 |  |  |  | 2.8 |
Change in valuation allowance - U.S. state |  |  | (361 | ) |  |  | (0.7 | )
Change in valuation allowance - foreign |  |  | 39 |  |  |  | 0.1 |
Change in liability for unrecognized tax benefits |  |  | (45 | ) |  |  | (0.1 | )
Provision to return - U.S. federal |  |  | (263 | ) |  |  | (0.5 | )
Provision to return - U.S. state |  |  | (434 | ) |  |  | (0.9 | )
Provision to return - foreign |  |  | (158 | ) |  |  | (0.3 | )
Deferred adjustments - U.S. federal |  |  | 993 |  |  |  | 2.1 |
Deferred adjustments - U.S. state |  |  | 113 |  |  |  | 0.2 |
Other |  |  | (326 | ) |  |  | (0.8 | )
Income tax provision |  | $ | 9,617 |  |  |  | 19.9 | %
The fiscal 2026 tax provision was different than the statutory rate due primarily to excess tax benefits associated with share-based compensation, Net Controlled Foreign Corporation Tested Income (NCTI), previously global intangible low-taxed income (GILTI), and U.S. R&D credits.
(In thousands) |  | 2025 |  |  | 2024 |
Income tax expense at the U.S. Federal statutory rate |  | $ | 5,383 |  |  | $ | 4,344 |
Expense for state taxes |  |  | 768 |  |  |  | 293 |
Impact of foreign operations |  |  | (673 | ) |  |  | (250 | )
R&D credits |  |  | (2,091 | ) |  |  | (3,540 | )
GILTI |  |  | 2,907 |  |  |  | 1,471 |
Rate change |  |  | (1,157 | ) |  |  | (1,817 | )
Change in valuation allowance |  |  | (1,610 | ) |  |  | (65,023 | )
Change in liability for unrecognized tax benefits |  |  | — |  |  |  | (1,044 | )
Share-based compensation |  |  | (60 | ) |  |  | (1,823 | )
Deferred adjustments |  |  | (357 | ) |  |  | 1,927 |
Provision to return |  |  | (884 | ) |  |  | (219 | )
Other |  |  | 184 |  |  |  | 170 |
Income tax provision (benefit) |  | $ | 2,410 |  |  | $ | (65,511 | )
Schedule of deferred tax assets and liabilities | Deferred tax assets and liabilities as of March 31, are as follows:
(In thousands) |  | 2026 |  |  | 2025 |
Deferred tax assets: |  |  |  |  |  |
Accrued liabilities |  | $ | 8,582 |  |  | $ | 8,663 |
Allowance for expected credit losses and doubtful accounts |  |  | 220 |  |  |  | 121 |
Federal losses and credit carryforwards |  |  | 17,218 |  |  |  | 20,429 |
Foreign losses and credit carryforwards |  |  | 2,916 |  |  |  | 3,325 |
State losses and credit carryforwards |  |  | 6,238 |  |  |  | 6,261 |
Deferred revenue |  |  | 465 |  |  |  | 368 |
Capitalized research expenses |  |  | 27,191 |  |  |  | 32,410 |
Operating lease liabilities |  |  | 4,466 |  |  |  | 5,372 |
Goodwill and other intangible assets |  |  | (520 | ) |  |  | (574 | )
Other |  |  | 162 |  |  |  | 426 |
|  |  | 66,938 |  |  |  | 76,801 |
Less: valuation allowance |  |  | (958 | ) |  |  | (1,340 | )
Total |  |  | 65,980 |  |  |  | 75,461 |
Deferred tax liabilities: |  |  |  |  |  |
Operating lease right-of-use assets |  |  | (3,204 | ) |  |  | (3,961 | )
Goodwill and other intangible assets |  |  | (13,105 | ) |  |  | (13,958 | )
Property and equipment and software amortization |  |  | (1,746 | ) |  |  | (2,007 | )
Total |  |  | (18,055 | ) |  |  | (19,926 | )
Total deferred tax assets, net |  | $ | 47,925 |  |  | $ | 55,535 |
Schedule of uncertain tax positions | Uncertain tax positions as of March 31, are as follows:
(In thousands) |  | 2026 |  |  | 2025 |  |  | 2024 |
Beginning gross unrecognized tax benefits |  | $ | 1,063 |  |  | $ | 562 |  |  | $ | 575 |
Decreases related to prior year tax positions |  |  | (46 | ) |  |  | — |  |  |  | (575 | )
Increases related to current year tax positions |  |  | 189 |  |  |  | 235 |  |  |  | 562 |
Increases related to prior year tax positions |  |  | — |  |  |  | 134 |  |  |  | — |
Increases due to business acquisitions |  |  | — |  |  |  | 132 |  |  |  | — |
Decreases related to settlements with tax authorities |  |  | (133 | ) |  |  | — |  |  |  | — |
Ending gross unrecognized tax benefits |  | $ | 1,073 |  |  | $ | 1,063 |  |  | $ | 562 |

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