Leases

12 Months Ended

Mar. 31, 2024

The Company has entered into or assumed through acquisitions, various non-cancellable operating lease agreements primarily for office space. These lease agreements expire between fiscal years 2025 and 2029 and, in certain cases, include one or more options to renew. The Company recognizes a right-of-use (“ROU”) asset and lease liability at the lease commencement date based on the estimated present value of lease payments over the lease term. Variable lease payments consisting of non-lease component and services are excluded from the ROU assets and lease liabilities and are recognized in the period in which the obligation is incurred.

Leases are classified on the balance sheet as follows:


	March 31, 2024			March 31, 2023

Operating lease right-of-use assets	$	9,127		$	10,073
Current operating lease liabilities	3,038			7,191
Non-current operating lease liabilities	5,747			6,172
Weighted-average remaining terms	3.58 years			3.92 years
Weighted-average discount rate	3.55		%	2.53		%

The current portion of the Company’s lease liabilities, payable within the next twelve months, is included in other current liabilities, and the long-term portion of the Company’s lease liabilities is included in other non-current liabilities on the consolidated balance sheet.

Schedule, by fiscal year, of maturities of lease liabilities as of:


	March 31, 2024

Fiscal year 2025	$	4,371
Fiscal year 2026	2,230
Fiscal year 2027	1,655
Fiscal year 2028	1,215
Fiscal year 2029	1,015
Thereafter	97
Total undiscounted cash flows	10,583
(Less imputed interest)	(1,798)
Present value of lease liabilities	$	8,785

During the years ended March 31, 2024, 2023, and 2022, expenses related to operating leases were $4,953, $6,854, and $5,704, respectively, and were included in operating expenses.