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SUBSEQUENT EVENTS | 3 Months Ended
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Jun. 30, 2025
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | Subsequent Events 2024 Delayed Draw Term Loan On July 29, 2025, the Company executed the First Amendment (the "Amendment") to the 2024 Credit Agreement. The Amendment is designed to provide additional financial flexibility and support future strategic initiatives. The Amendment reflects the Company's continued commitment to financial discipline as it executes on long-term growth priorities and investor return initiatives. Under the terms of the 2024 Credit Agreement, the Company may prepay the 2024 Term Loan at any time without incurring a premium or penalty. In connection with the amendment, the Company prepaid $10.0 million of the remaining long-term principal payment due in August 2027 under the 2024 Term Loan. This prepayment is accounted for as partial debt extinguishment, and will result in the recognition of a proportionate share of unamortized debt issuance costs and original issue discount within other expense, net in the condensed consolidated statement of operations for the three months ending September 30, 2025. The remaining principal amount of the 2024 Term Loan after the prepayment is $127.0 million. The $10.0 million prepayment did not adjust the scheduled quarterly principal payments. The Company has no mandatory principal payments due for fiscal year 2026 and the next quarterly payment is due on June 30, 2026. One Big Beautiful Bill Act On July 4, 2025, the United States enacted tax reform legislation through the One Big Beautiful Bill Act (the "OBBBA") (formally known as An Act to provide for reconciliation, pursuant to title II of H. Con. Res. 14). Included in this legislation are provisions that allow the immediate expensing of domestic U.S. research and development expenses, immediate expensing of certain capital expenditures, and other changes to the U.S. taxation of profits derived from foreign operations. The Company continues to evaluate the impact that the OBBBA will have on the Consolidated Financial Statements. Since some of the changes in the legislation will require the U.S. Department of the Treasury to issue new interpretive guidance, and the Company’s assessment remains ongoing, the Company is not able to quantify the impact of the OBBBA on the Consolidated Financial Statements at this time. Common Stock Reserved for Future Issuance On July 25, 2025, the shareholders of the Company approved an amendment to the 2022 Plan and the ESPP, which increased the shares of the Company's common stock reserved for future issuance under each plan by 8.5 million shares and 6.0 million shares, respectively.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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