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Income Taxes | 3 Months Ended
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Jun. 30, 2025
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes The Company recorded an income tax expense of $260,000 for the three months ended June 30, 2025, and income tax expense of $3,421,000 for the three months ended June 30, 2024. Income tax as a percentage of pre-tax income (loss) was (16)% in the three months ended June 30, 2025. Income tax as a percentage of pre-tax income (loss) was 28% in the three months ended June 30, 2024. Typically these percentages vary from the U.S. statutory rate of 21% primarily due to varying statutory tax rates at the Company's foreign subsidiaries, and the jurisdictional mix of income for these subsidiaries. Additionally, during the three months ended June 30, 2025 and June 30, 2024, the impact of equity compensation increased income tax expense. The Company estimates that the effective tax rate related to continuing operations will be approximately 25% for fiscal 2026. On July 4, 2025, the United States Congress passed budget reconciliation bill H.R.1, also known as "One Big Beautiful Bill Act" (OBBBA), with many of its provisions taking effect during the Company's 2026 fiscal year. The OBBBA had no impact on the calculation of taxes for the period ending June 30, 2025. For fiscal 2026, the Company expects to be impacted by the enacted changes to the interest limitation calculation as well as the enacted changes related to the capitalization of research and development expenditures. The Company does not expect a material impact to its tax rate as a result of the OBBBA for fiscal year 2026 but continues to evaluate developing guidance. Refer to the Company’s consolidated financial statements included in the 2025 Form 10-K for further information on income taxes.

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