Stockholders' Equity (Tables)

9 Months Ended

Dec. 31, 2021

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 nine months ended December 31, 2021 and 2020:

	Three Months Ended December 31,						Nine Months Ended December 31,
	2021			2020			2021			2020
Costs and expenses:
Cost of revenue	$	561		$	506		$	1,619		$	1,519
Research and development costs		1,229			1,081			3,382			3,024
Selling, general and administrative		5,260			4,346			13,684			12,220
Total share-based compensation		7,050			5,933			18,685			16,763
Income tax benefit		(1,704	)		(1,433	)		(4,437	)		(4,002	)
Decrease in net income	$	5,346		$	4,500		$	14,248		$	12,761

Summary of Stock Option Activity

Stock Options

The following table summarizes the stock option transactions during the nine months ended December 31, 2021:

				Weighted-		Weighted-
				Average		Average		Aggregate
				Exercise		Remaining		Intrinsic
	Number of			Price		Contractual		Value
	Shares			per Share		Life (years)		(in thousands)
Outstanding, March 31, 2021		2,791,084		$	14.47		3.7	$	10,303
Exercised		(1,011,100	)		13.41		2.9		1,619
Forfeited/Canceled		(31,820	)		19.56		3.2
Expired		(56,500	)		18.85
Outstanding, December 31, 2021		1,691,664		$	14.86		3.1	$	5,020
Vested and expected to vest, December 31, 2021		1,683,689		$	14.85		3.1	$	5,012
Exercisable, December 31, 2021		1,641,282		$	14.80		3.0	$	4,966

Schedule of Employee Stock Options and Performance Based Awards by Non-vested Stock Options

Non-vested stock option award activity during the nine months ended December 31, 2021 is summarized as follows:

				Weighted-
				Average
				Grant-Date
	Number of			Fair Value
	Shares			per Share
Outstanding, March 31, 2021		459,339		$	5.96
Vested		(391,457	)		5.74
Forfeited/Canceled		(17,500	)		7.96
Outstanding, December 31, 2021		50,382		$	6.98

Summary of Restricted Stock Awards Activity

Restricted Stock Awards

Restricted stock awards activity during the nine months ended December 31, 2021 is summarized as follows:

				Weighted-
				Average
				Grant-Date
	Number of			Fair Value
	Shares			per Share
Outstanding, March 31, 2021		2,263,569		$	14.58
Granted		2,342,578			15.80
Vested		(1,046,769	)		15.11
Canceled		(215,050	)		14.91
Outstanding, December 31, 2021		3,344,328		$	15.24