Stockholders' Equity (Tables)

6 Months Ended

Sep. 30, 2023

Stockholders' Equity Note [Abstract]

Schedule of Stock-Based Compensation Expense

The following table summarizes total share-based compensation expense included in the condensed consolidated statements of net income and comprehensive income for the three and six months ended September 30, 2023 and 2022:

	Three Months Ended September 30,						Six Months Ended September 30,
	2023			2022			2023			2022
Costs and expenses:
Cost of revenue	$	1,036		$	951		$	1,878		$	1,514
Research and development costs		1,183			1,655			1,838			3,238
Selling, general and administrative		7,247			6,081			13,706			12,701
Total share-based compensation		9,466			8,687			17,422			17,453
Income tax benefit		(2,250	)		(2,078	)		(4,144	)		(4,123	)
Decrease in net income	$	7,216		$	6,609		$	13,278		$	13,330

Summary of Restricted Stock Awards Activity

Restricted stock awards activity during the six months ended September 30, 2023 is summarized as follows:

Restricted Stock Award Activity				Weighted-
				Average
				Grant-Date
	Number of			Fair Value
	Shares			per Share
Outstanding, March 31, 2023		3,297,512		$	16.72
Granted		1,436,071			15.57
Vested		(1,086,413	)		15.66
Canceled		(143,646	)		16.50
Outstanding, September 30, 2023		3,503,524		$	16.59

Summary of Stock Option Activity

The following table summarizes the stock option transactions during the six months ended September 30, 2023:

				Weighted-		Weighted-
				Average		Average		Aggregate
				Exercise		Remaining		Intrinsic
	Number of			Price		Contractual		Value
	Shares			per Share		Life (years)		(in thousands)
Outstanding, March 31, 2023		1,130,813		$	14.75		1.7	$	3,011
Exercised		(201,824	)		14.33		1.3	$	254
Forfeited/Canceled		(500	)		—
Expired		(4,700	)		16.64
Outstanding, September 30, 2023		923,789		$	14.83		1.5	$	8,224
Vested and expected to vest, September 30, 2023		923,789		$	14.83		1.5	$	8,224
Exercisable, September 30, 2023		923,789		$	14.83		1.5	$	8,224