Restructuring

6 Months Ended

Sep. 30, 2024

Restructuring and Related Activities [Abstract]

In June 2023, the Company approved a reduction in force intended to restructure and align strategically its workforce with the Company’s strategy and to reduce the Company’s operating costs, primarily in the Consumer and Research Services segment. Subsequently in August 2023, the Company approved another reduction in force primarily intended to restructure and strategically align the Therapeutics segment’s workforce. On August 1, 2024, the Board of Directors of the Company determined that it was in the best interests of the Company and its stockholders to cease operations of the Therapeutics Discovery portion of the Company’s Therapeutics segment, effective August 9, 2024. During the three and six months ended September 30, 2024, the Company recorded restructuring charges of $2.2 million within restructuring and other charges in the condensed consolidated statements of operations, of which $1.9 million was related to cash severance payments and benefits continuation in connection with this reduction in force. During the three and six months ended September 30, 2023, the Company recorded restructuring charges of $2.7 million and $6.9 million, respectively, within restructuring and other charges in the condensed consolidated statements of operations, of which $2.7 million and $6.3 million, respectively, was related to cash severance payments and benefits continuation.

The following table shows the total amount incurred and accrued related to one-time employee termination benefits:


	One-Time Employee Termination Benefits
	(in thousands)
Accrued restructuring costs included in accrued expenses and other current liabilities as of March 31, 2024	$	22
Restructuring charges incurred during the period	2,242
Amounts paid during the period	(2,017)
Accrued restructuring costs included in accrued expenses and other current liabilities as of September 30, 2024	$	247

The Company does not expect to incur any further material expenses in connection with the Therapeutics Discovery RIF.