DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

3 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts and Fair Values of Derivative Instruments on Consolidated Balance Sheet

The notional amounts and fair values of derivative instruments in the consolidated balance sheets at June 30, 2024 and March 31, 2024 were as follows (in thousands):

	Notional Amounts (a)				Prepaid Expenses and Other Current Assets				Accrued Other
	June 30, 2024		March 31, 2024		June 30, 2024		March 31, 2024		June 30, 2024		March 31, 2024
Derivatives Designated as Hedging Instruments:
Forward contracts	$	10,937	$	11,676	$	9	$	11	$	123	$	74
Derivatives Not Designated as Hedging Instruments:
Forward contracts			—		—		—				—
					$	9	$	11	$	123	$	74

(a) Notional amounts represent the gross contract/notional amount of the derivatives outstanding.

Schedule of Effect of Foreign Exchange Forward Contracts on OCI and Results of Operations

The following table provides the effect that foreign exchange forward contracts designated as hedging instruments had on other comprehensive income (OCI) and results of operations for the three months ended June 30, 2024 and 2023 (in thousands):

	Gain (Loss) Recognized in OCI on Derivative (a)				Gain (Loss) Reclassified from Accumulated OCI into Income (b)
	June 30, 2024		June 30, 2023		Location	June 30, 2024		June 30, 2023
Forward contracts	$	(117)	$	210	Research and development	$	1	$	—
					Sales and marketing	59		(74)
	$	(117)	$	210		$	60	$	(74)

(a)The amount represents the change in fair value of derivative contracts due to changes in spot rates.

(b)The amount represents reclassification from other comprehensive income to earnings that occurs when the hedged item affects earnings.

The following table provides the effect that foreign exchange forward contracts not designated as hedging instruments had on the Company's results of operations for the three months ended June 30, 2024 and 2023 (in thousands):

	Gain Recognized in Income (a)
	Location	June 30, 2024		June 30, 2023
Forward contracts	General and administrative	$	—	$	60
		$	—	$	60

(a)The amount represents the change in fair value of derivative contracts due to changes in spot rates.