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INCOME TAXES
 9 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
INCOME TAXES

NOTE 15 – INCOME TAXES

The income tax provision effective tax rates were zero and (9.0%) for the three and nine months ended December 31, 2024, respectively, and 13.0% and 17.7% for the three and nine months ended December 31, 2023, respectively. During the three and nine months ended December 31, 2024, the effective tax rate differed from the U.S. federal statutory rate primarily due to the change in valuation allowance. We recorded a full valuation allowance against our U.S. federal and state net deferred tax assets for the three and nine months ended December 31, 2024 as we concluded it is more likely than not that the net deferred tax assets will not be realized. During the three and nine months ended December 31, 2023, the effective tax rate differed from the U.S. federal statutory rate primarily due to employee stock awards.

The Company has never had an Internal Revenue Service audit; therefore, the tax periods ended March 31, 2021, 2022, 2023 and 2024, are subject to audit.