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LEASES | 3 Months Ended
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Jun. 30, 2024
Leases [Abstract] |
LEASES | LEASES The components of lease expense were as follows:
| Three Months Ended June 30,
| 2024 |  | 2023
Operating lease expense | $ | 3,165 |  |  | $ | 2,507 |
Variable lease expense | $ | 1,081 |  |  | $ | 1,121 |
The supplemental cash flow information related to leases was as follows:
| June 30, 2024 |  | June 30, 2023
Cash outflows from operating leases | $ | 3,742 |  |  | $ | 3,640 |
Right-of-use assets obtained in exchange for operating lease obligations | $ | 1,954 |  |  | $ | — |
The Company entered into a lease agreement commencing in April 2024 for approximately 7,700 square feet of existing international office space in Singapore over a three-year term. As of June 30, 2024, the Company has recorded a right-of-use asset and right-of-use liability of $1.8 million, respectively, on the Condensed Consolidated Balance Sheets. Short-term lease expense was immaterial during the years ended June 30, 2024 and 2023. The following table presents supplemental lease information:
| June 30, 2024 |  | March 31, 2024
Weighted average remaining lease term | 5.9 years |  | 6.2 years
Weighted average discount rate | 4.5% |  | 4.3%
The following table presents maturity of lease liabilities under the Company's non-cancellable operating leases as of June 30, 2024:
Remainder of 2025 | $ | 10,698 |
2026 | 13,381 |
2027 | 12,050 |
2028 | 10,634 |
2029 | 10,476 |
Thereafter | 18,433 |
Total lease payments | 75,672 |
Less: imputed interest | (8,929) |
Present value of lease liabilities | $ | 66,743 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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