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Income Taxes (Tables)
 9 Months Ended
Dec. 31, 2015
Income Tax Disclosure [Abstract]  
Reconciliation of the statutory federal income tax rate and the effective income tax rate
Below is a reconciliation of the statutory federal income tax rate and the effective income tax rate:
 
Nine Months Ended December 31,
 
2014
 
2015
Statutory federal tax rate
34.0
 %
 
34.0
 %
State taxes, net
3.0
 %
 
3.5
 %
Federal tax credit
0.3
 %
 
0.8
 %
State tax credit
0.1
 %
 
0.3
 %
Change in valuation reserve
(37.3
)%
 
(38.4
)%
Permanent items
(0.1
)%
 
(0.3
)%
Change in tax contingency reserve
—
 %
 
(0.2
)%
Other, net
(0.2
)%
 
—
 %
Effective income tax rate
(0.2
)%
 
(0.3
)%
Unrecognized tax benefit activity
For the nine months ended December 31, 2014 and 2015, the Company had the following unrecognized tax benefit activity (in thousands):
 
Nine Months Ended December 31,
 
2014
 
2015
Unrecognized tax benefits as of beginning of period
$
210

 
$
212

Additions based on tax positions related to the current period positions
2

 
16

Unrecognized tax benefits as of end of period
$
212

 
$
228