401(k) Savings Plan

12 Months Ended

Mar. 31, 2023

Retirement Benefits [Abstract]

401(k) Savings Plan

401(k) SAVINGS PLAN

We sponsor a 401(k) savings plan that allows eligible employees to contribute a certain percentage of their salary. Employees are automatically enrolled within the first month of employment and have the ability to opt out. As a safe harbor plan sponsor, we are subject to non-discretionary matching contributions. Currently, we match 100% of the employee's first 1% of eligible pay contributed plus 50% of eligible pay contributed on the next 5%, for a maximum employer matching of 3.5%. Employees with less than one year of employment do not get any vesting employer contribution match. For employees with one to two years of employment vest 25% of employer contribution match. Employees with more than two years of employment vest 100% of the employer contribution match. All active employees on February 1, 2023 were accelerated to 100% vested in employer match. Our matching contributions for the savings plan were as follows (in thousands):

	Year Ended March 31,
	2023		2022
401(k) matching contributions	$	1,152	$	1,062