v3.25.4

Stock-based compensation (Tables)

9 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of stock-based compensation expense

Stock-based compensation expense was classified in the consolidated statements of operations as follows:

			Three Months Ended December 31,												Nine Months Ended December 31,
			2025						2024						2025						2024
Research and development			$	3,609					$	4,573					$	12,677					$	13,927
Selling, general and administrative			3,438						4,066						11,470						12,837
			$	7,047					$	8,639					$	24,147					$	26,764

     The following table summarizes stock-based compensation expense by award type for the three and nine months ended December 31, 2025 and 2024:

			Three Months Ended December 31,												Nine Months Ended December 31,
			2025						2024						2025						2024
Stock options			$	3,630					$	4,839					$	11,928					$	15,466
Restricted and performance stock units			3,417						3,800						12,219						11,298
			$	7,047					$	8,639					$	24,147					$	26,764

Schedule of assumptions used to determine the grant-date fair value of stock options granted

The following table presents, on a weighted-average basis, the assumptions that the Company used to determine the grant-date fair value of stock options granted to employees and directors:

			Three Months Ended December 31,									Nine Months Ended December 31,
			2025						2024			2025						2024
Risk-free interest rate			3.75		%				4.10		%	3.97		%				4.36		%
Expected term (in years)			6.1						6.1			6.0						6.0
Expected volatility			107.2		%				76.5		%	76.9		%				76.3		%
Expected dividend yield			0		%				0		%	0		%				0		%

Schedule of of stock option activity

The following table summarizes the Company’s stock option activity:

			Number of Shares						Weighted Average Exercise Price						Weighted Average Contractual Term (Years)						Aggregate Intrinsic Value
Outstanding as of March 31, 2025			10,214,878						$	15.22					6.24						$	10,652
Granted			2,183,724						$	8.42
Exercised			(70,966)						$	4.08
Cancelled			(399,666)						$	13.60
Outstanding as of December 31, 2025			11,927,970						$	14.10					5.83						$	12,758
Options exercisable as of December 31, 2025			8,014,980						$	16.09					4.48						$	8,281
Options vested and expected to vest as of December 31, 2025			11,927,970						$	14.10					5.83						$	12,758

Schedule of share-based payment arrangement, restricted stock and restricted stock unit, activity

A summary of the changes in the Company's RSUs and PSUs during the nine months ended December 31, 2025 is as follows:

			Number of Restricted Shares						Weighted Average Grant Date Fair Value
Outstanding as of March 31, 2025			3,611,774						12.40
Granted			3,464,911						8.82
Vested			(898,310)						16.33
Cancelled			(515,352)						10.57
Outstanding as of December 31, 2025			5,663,023						$	9.76

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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