Goodwill and Other Intangible Assets

12 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

The Company conducts its impairment analysis of goodwill annually at December 31 or more frequently if changes in facts and circumstances indicate that it is more likely than not that the fair value of the Company’s reporting unit may be less than its carrying amount. The Company conducted its annual impairment analysis of goodwill as of December 31, 2024 by performing a qualitative assessment and concluded that it was more likely than not that the fair value of its reporting unit exceeded its carrying amount. There have been no triggering events identified affecting the valuation of goodwill subsequent to the annual impairment test.

The following table summarizes the activities in the Company's goodwill balance (in thousands):


	Years Ended March 31,
	2025		2024
Beginning of the period	$	461,978	$	454,610
Acquisitions	—		8,156
Effects of foreign currency translation	1,252		(788)
End of the period	$	463,230	$	461,978

The Company's acquired intangible assets were as follows (in thousands):


	March 31,
	2025						2024
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Trademarks and trade names	$	32,390	$	(28,675)	$	3,715	$	32,390	$	(25,739)	$	6,651
Developed technology	107,421		(96,464)		10,957		107,421		(86,855)		20,566
Customer contracts/relationships	69,087		(58,646)		10,441		69,087		(51,061)		18,026

Effects of foreign currency translation	(620)		137		(483)		(1,019)		379		(640)
Total	$	208,278	$	(183,648)	$	24,630	$	207,879	$	(163,276)	$	44,603

For fiscal years 2025, 2024 and 2023, amortization expense for intangible assets was $20.1 million, $21.7 million and $24.4 million, respectively. The Company expects that annual amortization expense for fiscal years 2026, 2027, 2028, 2029 and 2030 will be $12.8 million, $5.6 million, $4.1 million, $1.8 million and $0.3 million, respectively.