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Share-based Compensation (Tables)
9 Months Ended
Dec. 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 condensed consolidated statements of operations:

 

 

Three Months Ended December 31,

 

 

Nine Months Ended December 31,

 

(In thousands)

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Product development

 

$

3,422

 

 

$

2,293

 

 

$

9,429

 

 

$

7,199

 

Sales and marketing

 

 

555

 

 

 

541

 

 

 

1,531

 

 

 

1,115

 

General and administrative

 

 

1,792

 

 

 

1,384

 

 

 

4,838

 

 

 

4,342

 

Total share-based compensation expense

 

$

5,769

 

 

$

4,218

 

 

$

15,798

 

 

$

12,656

 

Activity related SSARs award

The following table summarizes the activity during the nine months ended December 31, 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, 2025

 

 

394,959

 

 

$

20.04

 

 

 

 

 

 

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

(45,421

)

 

 

19.90

 

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

 

 

 

 

 

 

Expired

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2025

 

 

349,538

 

 

$

20.06

 

 

 

1.4

 

 

$

34,528

 

Exercisable at December 31, 2025

 

 

349,538

 

 

$

20.06

 

 

 

1.4

 

 

$

34,528

 

Vested at December 31, 2025

 

 

349,538

 

 

$

20.06

 

 

 

1.4

 

 

$

34,528

 

 

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

 

 

Number of Shares

 

Weighted-Average Grant-Date Fair Value

 

 

 

 

 

 

(per share)

 

Outstanding at April 1, 2025

 

 

229,710

 

 

$

76.01

 

Granted

 

 

4,970

 

 

 

100.19

 

Vested

 

 

(154,821

)

 

 

67.31

 

Forfeited

 

 

(3,524

)

 

 

93.50

 

Expected to vest at December 31, 2025

 

 

76,335

 

 

$

94.49

 

 

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 estimate the value of the call and put options using the Black-Scholes-Merton option pricing model with inputs including the closing market price of our common stock on the first date of the offering period and assumptions regarding the risk-free interest rate, expected term, and expected volatility of our common shares over the offering period based on historical volatility.

 

 

Offering Period Ended

 

 

Offering Period Ended

 

 

Offering Period Ended

 

 

Offering Period Ended

 

 

 

December 31, 2025

 

 

June 30, 2025

 

 

December 31, 2024

 

 

June 30, 2024

 

Grant date fair value

 

$

115.19

 

 

$

131.71

 

 

$

103.43

 

 

$

81.60

 

Risk-free interest rate over contractual term

 

 

4.30

%

 

 

4.31

%

 

 

4.91

%

 

 

5.36

%

Expected term (in years)

 

 

0.50

 

 

 

0.49

 

 

 

0.50

 

 

 

0.41

 

Expected volatility

 

 

60.10

%

 

 

42.40

%

 

 

40.93

%

 

 

47.41

%

Restricted Stock Units (RSUs) [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Activity related to restricted shares granted by the Company The following table summarizes the activity during nine months ended December 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, 2025

 

 

181,195

 

 

$

118.90

 

Granted

 

 

208,051

 

 

126.28

 

Vested

 

 

(43,010

)

 

 

137.34

 

Forfeited

 

 

(5,783

)

 

 

134.03

 

Expected to vest at December 31, 2025

 

 

340,453

 

 

$

120.83