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INCOME TAXES | 6 Months Ended
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Sep. 30, 2024
Income Tax Disclosure [Abstract] |
INCOME TAXES | INCOME TAXES The Company records its interim tax provision based upon a projection of the Company’s annual effective tax rate (“AETR”). This AETR is applied to the year-to-date consolidated pre-tax income to determine the interim provision for income taxes before discrete items. The Company updates the AETR on a quarterly basis as the pre-tax income projections are revised and tax laws are enacted. The effective tax rate (“ETR”) each period is impacted by a number of factors, including the relative mix of domestic and foreign earnings and adjustments to recorded valuation allowances. The currently forecasted ETR may vary from the actual year-end due to the changes in these factors.
| Three Months Ended September 30, |  | Six Months Ended September 30,
| 2023 |  | 2024 |  | 2023 |  | 2024
Domestic pre-tax book loss | $ | (4,123) |  |  | $ | (7,136) |  |  | $ | (14,312) |  |  | $ | (23,611) |
Foreign pre-tax book income (expense) | 870 |  |  | 5,509 |  |  | 7,791 |  |  | 738 |
Total loss before income taxes | (3,253) |  |  | (1,627) |  |  | (6,521) |  |  | (22,873) |
Income tax benefit (expense) | (295) |  |  | (256) |  |  | (289) |  |  | (1,309) |
Net loss before non-controlling interest | $ | (3,548) |  |  | $ | (1,883) |  |  | $ | (6,810) |  |  | $ | (24,182) |
Effective tax rate | (9.07) | % |  | (15.73) | % |  | (4.43) | % |  | (5.72) | %
For the three- and six-month periods ended September 30, 2023 and 2024, the effective tax rate differed from the statutory tax rates primarily due to the mix of domestic and foreign earnings amongst taxable jurisdictions, recorded valuation allowances to fully reserve against deferred tax assets in jurisdictions, and certain discrete items.

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