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Share-based Compensation (Tables)
 12 Months Ended
Mar. 31, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of share-based compensation expense

The following table summarizes the share-based compensation expense for grants included in the Consolidated Statements of Operations for fiscal 2025, 2024 and 2023:

 

 

 

Year Ended March 31,

 

(In thousands)

 

2025

 

 

2024

 

 

2023

 

Product development

 

$

10,064

 

 

$

7,380

 

 

$

7,987

 

Sales and marketing

 

 

1,665

 

 

 

831

 

 

 

1,044

 

General and administrative

 

 

6,048

 

 

 

5,900

 

 

 

3,927

 

Total share-based compensation expense

 

$

17,777

 

 

$

14,111

 

 

$

12,958

 
Activity related SSARs award

The following table summarizes the activity during fiscal 2025 for SSARs awarded under the 2020 and 2016 Plans:

 

(In thousands, except share and per share data)

 

Number
of Rights

 

 

Weighted-
Average
Exercise
Price

 

 

Remaining
Contractual
Term

 

 

Aggregate
Intrinsic
Value

 

 

 

 

 

 

(per right)

 

 

(in years)

 

 

 

 

Outstanding at April 1, 2024

 

 

1,297,339

 

 

$

27.63

 

 

 

 

 

 

 

Granted

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Exercised

 

 

(902,380

)

 

 

30.96

 

 

 

 

 

 

 

Forfeited

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Cancelled/expired

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Outstanding at March 31, 2025

 

 

394,959

 

 

$

20.04

 

 

 

2.2

 

 

$

20,735

 

Exercisable at March 31, 2025

 

 

394,959

 

 

$

20.04

 

 

 

2.2

 

 

$

20,735

 

Vested at March 31, 2025

 

 

394,959

 

 

$

20.04

 

 

 

2.2

 

 

$

20,735

 

The following table presents additional information related to SSARs activity during fiscal 2025, 2024 and 2023:

 

(In thousands)

 

2025

 

 

2024

 

 

2023

 

Compensation expense

 

$

—

 

 

$

—

 

 

$

3,188

 

Total intrinsic value of SSARs exercised

 

$

65,080

 

 

$

16,889

 

 

$

28,025

 

Total fair value of SSARs vesting

 

$

—

 

 

$

—

 

 

$

13,037

 
Activity related to restricted shares awarded by the Company The following table summarizes the activity during the twelve months ended March 31, 2025 for restricted shares awarded under the 2020 Plan:

 

 

 

Number
of Shares

 

 

Weighted-
Average
Grant-
Date Fair
Value

 

 

 

 

 

 

(per share)

 

Outstanding at April 1, 2024

 

 

436,177

 

 

$

65.52

 

Granted

 

 

37,349

 

 

 

106.81

 

Vested

 

 

(224,370

)

 

 

60.97

 

Forfeited

 

 

(19,446

)

 

 

73.32

 

Expected to vest at March 31, 2025

 

 

229,710

 

 

$

76.01

 
Restricted stock activity

The following table presents additional information related to restricted share activity during fiscal years 2025, 2024, and 2023:

 

(In thousands)

 

2025

 

 

2024

 

 

2023

 

Compensation expense

 

$

11,379

 

 

$

11,146

 

 

$

9,274

 

Total fair value of restricted share vesting

 

$

13,182

 

 

$

6,595

 

 

$

2,952

 
Employee Stock [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of principal assumptions utilized in valuing service condition SARs We used the following inputs including principal assumptions for the following offering period reflected in our consolidated financial statements:

 

 

 

Offering Period Ending

 

 

Offering Period Ended

 

 

Offering Period Ended

 

 

 

June 30, 2025

 

 

December 31, 2024

 

 

June 30, 2024

 

Grant date fair value

 

$

131.71

 

 

$

103.43

 

 

$

81.60

 

Risk-free interest rate over contractual term

 

 

4.31

%

 

 

4.91

%

 

 

5.36

%

Expected term (in years)

 

 

0.49

 

 

 

0.50

 

 

 

0.41

 

Expected volatility

 

 

42.40

%

 

 

40.93

%

 

 

47.41

%
Restricted Stock Units (RSUs) [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of principal assumptions utilized in valuing service condition SARs The following table summarizes the principal valuation assumptions utilized and the resulting fair value of restricted stock units subject to a market condition granted in fiscal 2023:

 

 

 

2023

 

Risk-free interest rate over contractual term

 

 

4.3

%

Expected volatility

 

 

54.0

%

Weighted-average grant date fair value

 

$60.02 - $65.89

 

 
Activity related to restricted shares awarded by the Company The following table summarizes the activity during the twelve months ended March 31, 2025 for restricted stock units awarded under the 2020 and 2024 Plans:

 

 

 

Number
of Shares

 

 

Weighted-
Average
Grant-
Date Fair
Value

 

 

 

 

 

 

(per share)

 

Outstanding at April 1, 2024

 

 

56,547

 

 

$

70.03

 

Granted

 

 

139,433

 

 

 

135.99

 

Vested

 

 

(11,550

)

 

 

80.67

 

Forfeited

 

 

(3,235

)

 

 

137.48

 

Expected to vest at March 31, 2025

 

 

181,195

 

 

$

118.90

 
Restricted stock activity

The following table presents additional information related to restricted stock unit activity during fiscal 2025:

(In thousands)

 

2025

 

Compensation expense

 

$

5,591

 

Total fair value of restricted stock unit vesting

 

$

932