Fair Value Measurements (Tables)

3 Months Ended

Jun. 30, 2021

Fair Value Measurements [Abstract]

Financial Assets and Liabilities Measured at Fair Value Recurring Basis

The following summarizes financial assets and liabilities measured at fair value, by level within the fair value hierarchy:

	June 30, 2021								March 31, 2021
			Fair Value Measurements Using Inputs Considered as								Fair Value Measurements Using Inputs Considered as
	Fair Value		Level 1		Level 2		Level 3		Fair Value		Level 1		Level 2		Level 3
Assets
Short-term investments
Mutual funds	$	1,823,000	$	1,823,000	$	-	$	-	$	1,652,000	$	1,652,000	$	-	$	-
Prepaid expenses and other current assets
Forward foreign currency exchange contracts		1,167,000		-		1,167,000		-		1,429,000		-		1,429,000		-
Liabilities
Accrued liabilities
Short-term contingent consideration		850,000		-		-		850,000		910,000		-		-		910,000
Other current liabilities
Deferred compensation		1,823,000		1,823,000		-		-		1,652,000		1,652,000		-		-

Assumptions Used to Determine Fair Value of Contingent Consideration

The assumptions used to determine the fair value is as follows:

	June 30, 2021
Risk free interest rate		0.06	%
Counter party rate		3.00	%
Expected volatility		30-40	%
Weighted average cost of capital		13-15.5	%

Change in Warrant Liability Measured at Fair Value Recurring Basis Using Significant Unobservable Inputs (Level 3)

The following table summarizes the activity for financial assets and liabilities utilizing Level 3 fair value measurements:

	Three Months Ended June 30,
Contingent Consideration	2021			2020
Beginning balance	$	910,000		$	2,653,000
Changes in revaluations of contingent consideration included in earnings		(60,000	)		(47,000	)
Ending balance	$	850,000		$	2,606,000