Property and Equipment, Net

12 Months Ended

Mar. 31, 2025

Property, Plant and Equipment [Abstract]

4. Property and Equipment, Net

Property and equipment at March 31, 2025 and 2024 is as follows:


	Year Ended March 31,
(In thousands)	2025			2024
Furniture and equipment	$	17,190		$	16,116
Software		16,474			16,028
Leasehold improvements		9,023			9,041
Facilities construction in progress		286			122
		42,973			41,307
Accumulated depreciation and amortization		(26,255	)		(23,377	)
Property and equipment, net	$	16,718		$	17,930

Total depreciation expense on property and equipment was $3.7 million, $3.9 million, and $1.8 million during fiscal 2025, 2024 and 2023, respectively.

The Company capitalizes internal-use software, including software purchased and used exclusively in providing services or that is only made available to customers as a software service, as property and equipment under ASC 350-40, Internal-Use Software. Total amortization expense on capitalized internal-use software was $0.3 million, $0.3 million, and $0.6 million during fiscal 2025, 2024, and 2023, respectively.

Assets under financing leases are included in property and equipment categories above and further disclosed with Note 6. Leases.