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CASH, CASH EQUIVALENTS, MARKETABLE SECURITIES AND INVESTMENTS | 6 Months Ended
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Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract] |
CASH, CASH EQUIVALENTS, MARKETABLE SECURITIES AND INVESTMENTS | NOTE 5 – CASH, CASH EQUIVALENTS, MARKETABLE SECURITIES AND INVESTMENTS The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents and those investments with original maturities greater than three months to be marketable securities. Cash and cash equi valents mainly consisted of U.S. government and municipal obligations, commercial paper, agency bonds, money market instruments and cash maintained with various financial institutions at September 30, 2025 and March 31, 2025. Marketable Securities The following is a summary of marketable securities held by the Company at September 30, 2025, classified as short-term and long-term (in thousands):
| Amortized Cost |  | Unrealized Gains |  | Fair Value
Type of security: |  |  |  |  |
U.S. government and municipal obligations | $ | 7,982 |  |  | $ | 4 |  |  | $ | 7,986 |
Commercial paper | 18,991 |  |  | — |  |  | 18,991 |
Corporate bonds | 995 |  |  | 1 |  |  | 996 |
Certificates of deposit | 3,543 |  |  | — |  |  | 3,543 |
Agency bonds | 1,964 |  |  | 3 |  |  | 1,967 |
Total short-term marketable securities | 33,475 |  |  | 8 |  |  | 33,483 |
U.S. government and municipal obligations | 2,007 |  |  | 3 |  |  | 2,010 |
Agency bonds | 8,026 |  |  | 6 |  |  | $ | 8,032 |
Total long-term marketable securities | 10,033 |  |  | 9 |  |  | 10,042 |
Total marketable securities | $ | 43,508 |  |  | $ | 17 |  |  | $ | 43,525 |
The following is a summary of marketable securities held by the Company at March 31, 2025, classified as short-term and long-term (in thousands):
| Amortized Cost |  | Unrealized Gains (Losses) |  | Fair Value
Type of security: |  |  |  |  |
U.S. government and municipal obligations | $ | 4,413 |  |  | $ | 1 |  |  | $ | 4,414 |
Commercial paper | 17,358 |  |  | — |  |  | 17,358 |
Certificates of deposit | 505 |  |  | — |  |  | 505 |
Total short-term marketable securities | 22,276 |  |  | 1 |  |  | 22,277 |
U.S. government and municipal obligations | 1,005 |  |  | (1) |  |  | 1,004 |
Total long-term marketable securities | 1,005 |  |  | (1) |  |  | 1,004 |
Total marketable securities | $ | 23,281 |  |  | $ | — |  |  | $ | 23,281 |
Contractual maturities of the Company's marketable securities held at September 30, 2025 and March 31, 2025 were as follows (in thousands):
| September 30, 2025 |  | March 31, 2025
Available-for-sale securities: |  |  |
Due in 1 year or less | $ | 33,483 |  |  | $ | 22,277 |
Due after 1 year through 5 years | 10,042 |  |  | 1,004 |
| $ | 43,525 |  |  | $ | 23,281 |
Investments In February 2023, the Company entered into a forward share purchase agreement with Napatech A/S (Napatech), a publicly traded Danish company registered on the Oslo stock exchange, to purchase approximately 6.2 million shares of Napatech's common stock for $7.5 million. In April 2023, the Company settled the forward share purchase contract with Napatech in exchange for approximately 6.2 million shares of Napatech's common stock. The Company accounted for the investment under the equity method and elected to apply the fair value option to the investment. The Company recorded the investment at fair value at the end of each period based on the closing price of Napatech's stock and any change in fair value during the period is recorded in other (expense) income, net within the Company's consolidated statement of operations. On August 4, 2025, the Company sold its entire equity investment in Napatech, receiving cash proceeds of $11.8 million. During the six months ended September 30, 2025 and 2024, the Company recognized a $1.0 million loss and a $7.6 million gain, respectively, on the Napatech equity investment, in other (expense) income, net. For the six months ended September 30, 2024, the unrealized gain related to foreign currency translation on the equity investment in Napatech was $0.7 million.

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- Definition The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(2)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1 + Details
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