Leases

12 Months Ended

Mar. 31, 2025

The Company is a lessee in various non-cancelable operating leases, primarily real estate facilities for office space. As of March 31, 2025, the Company's lease arrangements are comprised of operating leases with various expiration dates through July 31, 2035. The lease term for all of the Company’s leases includes the non-cancelable period of the lease. Certain lease agreements include options to renew or terminate the lease, which are not reasonably certain to be exercised and therefore are not factored into the Company's determination of the duration of the lease arrangement. The Company's leases do not contain any material residual value guarantees.

The total operating lease costs including short-term lease costs were $19.3 million, $19.5 million and $21.2 million for the years ended March 31, 2025, 2024, and 2023, respectively. Total variable lease costs were not material during the years ended March 31, 2025, 2024 and 2023. The total operating and variable lease costs were included in cost of goods sold, marketing and selling, research and development, and general and administrative in the Company's consolidated statements of operations.

Supplemental cash flow information related to operating leases (in thousands):


	Years Ended March 31,
	2025		2024		2023
Cash paid for amounts included in the measurement of operating lease liabilities	$	16,847	$	13,489	$	16,565
ROU assets obtained in the exchange for operating lease liabilities	$	26,767	$	8,593	$	43,093

Future lease payments included in the measurement of operating lease liabilities as of March 31, 2025 for the following five fiscal years and thereafter are as follows (in thousands):


Years Ending March 31,
2026	$	16,992
2027	15,775
2028	13,158
2029	12,591
2030	10,722
Thereafter	36,263
Total lease payments	$	105,501
Less: imputed interest	(13,099)
Present value of lease liabilities	$	92,402

Weighted-average lease terms and discount rates were as follows:


	Years Ended March 31,
	2025		2024
Weighted-average remaining lease terms (in years)	7.6		7.5
Weighted-average discount rate	3.6	%	3.8	%