GOODWILL

12 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL

9. GOODWILL:

Each quarter, the Company considers whether indicators of impairment exist such that additional impairment testing may be necessary. During fiscal year 2024, triggering events occurred that required the Company to test the recoverability of goodwill associated with its APAC reporting unit. The triggering event was the restructuring of operations in the APAC region. Accordingly, we tested goodwill for impairment and determined that the fair value of the APAC reporting unit had decreased, resulting in complete impairment of the goodwill amount of $2.9 million. In order to estimate the fair value of the APAC reporting unit, management utilized a discounted cash flow model, classified in level 3 in the fair value hierarchy, as well as considered market multiples of guideline public companies.

Changes in goodwill for the twelve months ended March 31, 2025 and 2024 were as follows (dollars in thousands):

	Total
Balance at March 31, 2023	$	363,116
Impairment	(2,875)
Acquisition of Habu (see Note 5)	141,641
Change in foreign currency translation adjustment	(126)
Balance at March 31, 2024	$	501,756
Purchase price accounting adjustment related to acquisition of Habu	(14)
Change in foreign currency translation adjustment	14
Balance at March 31, 2025	$	501,756

Goodwill by geography as of March 31, 2025 was: 

	Total
U.S.	$	501,756