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INCOME TAX (Tables) | 12 Months Ended
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Mar. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Total Income Tax Expense (Benefit) | Total income tax expense (benefit) was allocated as follows (dollars in thousands):
|  | For the twelve months ended March 31,
|  | 2024 |  | 2023 |  | 2022
Continuing operations |  | $ | 24,270 |  |  | $ | 5,252 |  |  | $ | (1,242) |
Discontinued operations |  | (2,332) |  |  | (7,070) |  |  | — |
|  | $ | 21,938 |  |  | $ | (1,818) |  |  | $ | (1,242) |
Schedule of Components of Income Tax Expense (Benefit) | Income tax expense (benefit) attributable to continuing operations consists of (dollars in thousands):
|  | For the twelve months ended March 31,
|  | 2024 |  | 2023 |  | 2022
Current: |  |  |  |  |  |
U.S. Federal |  | $ | 21,014 |  |  | $ | 6,325 |  |  | $ | (1,227) |
Non-U.S. |  | 662 |  |  | 1,086 |  |  | 305 |
State |  | 3,384 |  |  | (2,274) |  |  | 1,220 |
|  | 25,060 |  |  | 5,137 |  |  | 298 |
Deferred: |  |  |  |  |  |
U.S. Federal |  | (101) |  |  | 155 |  |  | (895) |
Non-U.S. |  | (387) |  |  | (83) |  |  | (608) |
State |  | (302) |  |  | 43 |  |  | (37) |
|  | (790) |  |  | 115 |  |  | (1,540) |
Total |  | $ | 24,270 |  |  | $ | 5,252 |  |  | $ | (1,242) |
Schedule of Income before Income Tax, Domestic and Foreign | Income (loss) before income tax attributable to U.S. and non-U.S. continuing operations consists of (dollars in thousands):
|  | For the twelve months ended March 31,
|  | 2024 |  | 2023 |  | 2022
U.S. |  | $ | 33,892 |  |  | $ | (122,994) |  |  | $ | (37,415) |
Non-U.S. |  | 469 |  |  | 4,140 |  |  | 2,340 |
Total |  | $ | 34,361 |  |  | $ | (118,854) |  |  | $ | (35,075) |
Schedule of Effective Income Tax Rate Reconciliation | Below is a reconciliation of expected income tax expense (benefit), computed by applying the U.S. federal statutory rate of 21.0% to income (loss) before income taxes, to actual income tax expense (benefit) from continuing operations (dollars in thousands):
|  | For the twelve months ended March 31,
|  | 2024 |  | 2023 |  | 2022
Computed expected income tax expense (benefit) |  | $ | 7,216 |  |  | $ | (24,959) |  |  | $ | (7,366) |
Increase (reduction) in income taxes resulting from: |  |  |  |  |  |
State income taxes, net of federal benefit |  | 2,494 |  |  | (2,440) |  |  | 691 |
Research and other tax credits |  | (3,012) |  |  | (4,363) |  |  | (3,107) |
Nondeductible expenses |  | 2,169 |  |  | 669 |  |  | 673 |
Stock-based compensation |  | 2,013 |  |  | 3,486 |  |  | 5,576 |
Non-U.S. subsidiaries taxed at other rates |  | (1,036) |  |  | 491 |  |  | (364) |
Adjustment to valuation allowances |  | 14,209 |  |  | 33,197 |  |  | 2,520 |
Other, net |  | 217 |  |  | (829) |  |  | 135 |
|  | $ | 24,270 |  |  | $ | 5,252 |  |  | $ | (1,242) |
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities at March 31, 2024 and 2023 are presented below (dollars in thousands).
|  | March 31,
|  | 2024 |  | 2023
Deferred tax assets: |  |  |  |
Accrued expenses |  | $ | 5,849 |  |  | $ | 5,287 |
Lease liabilities |  | 10,107 |  |  | 11,613 |
Net operating loss carryforwards |  | 30,408 |  |  | 22,504 |
Stock-based compensation |  | 7,346 |  |  | 3,335 |
Nonqualified deferred compensation |  | 2,809 |  |  | 2,797 |
Property and equipment |  | — |  |  | 585 |
Tax credit carryforwards |  | 9,764 |  |  | 7,779 |
Capitalized research and development |  | 45,499 |  |  | 26,357 |
Other |  | 1,477 |  |  | 253 |
Total deferred tax assets |  | 113,259 |  |  | 80,510 |
Less valuation allowance |  | (81,284) |  |  | (61,152) |
Net deferred tax assets |  | 31,975 |  |  | 19,358 |
Deferred tax liabilities: |  |  |  |
Prepaid expenses |  | (2,821) |  |  | (2,411) |
Property and equipment |  | (1,976) |  |  | — |
Right-of-use assets |  | (6,186) |  |  | (6,011) |
Intangible assets |  | (7,118) |  |  | (829) |
Deferred commissions |  | (12,098) |  |  | (9,153) |
Other |  | (364) |  |  | — |
Total deferred tax liabilities |  | (30,563) |  |  | (18,404) |
Net deferred tax assets |  | $ | 1,412 |  |  | $ | 954 |
Schedule of Unrecognized Tax Benefits Roll Forward | The following table sets forth changes in the total gross unrecognized tax benefits for the fiscal years ended March 31, 2024, 2023 and 2022 (dollars in thousands):
|  | For the twelve months ended March 31,
|  | 2024 |  | 2023 |  | 2022
Balance at beginning of period |  | $ | 21,624 |  |  | $ | 23,817 |  |  | $ | 25,026 |
Increases related to prior year tax positions |  | 741 |  |  | 93 |  |  | 411 |
Decreases related to prior year tax positions |  | (246) |  |  | (522) |  |  | — |
Increases related to current year tax positions |  | 1,179 |  |  | 2,229 |  |  | 990 |
Settlements with taxing authorities |  | — |  |  | (166) |  |  | — |
Lapse of statute of limitations |  | (376) |  |  | (3,827) |  |  | (2,610) |
Balance at end of period |  | $ | 22,922 |  |  | $ | 21,624 |  |  | $ | 23,817 |

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