e.l.f. Beauty (ELF) 10-Q 7 Nov 19 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 30, 2019	Oct. 31, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Registrant Name	e.l.f. Beauty, Inc.
Entity Central Index Key	0001600033
Current Fiscal Year End Date	--03-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Common Stock, Shares Outstanding		49,999,358

Condensed consolidated balance

Condensed consolidated balance sheets (unaudited) - USD ($) $ in Thousands	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2018
Current assets:
Cash and cash equivalents	$ 58,747	$ 53,874	$ 33,648
Accounts receivable, net	27,715	32,275	31,762
Inventory, net	50,850	43,779	53,365
Prepaid expenses and other current assets	7,813	7,340	6,756
Total current assets	145,125	137,268	125,531
Property and equipment, net	16,059	16,006	18,184
Intangible assets, net	93,613	97,053	100,621
Goodwill	157,264	157,264	157,264
Investments	2,875	2,875	2,875
Other assets	22,091	21,222	9,856
Total assets	437,027	431,688	414,331
Current liabilities:
Current portion of long-term debt and finance lease obligations	11,310	10,259	9,067
Accounts payable	14,807	16,280	16,072
Accrued expenses and other current liabilities	20,424	18,590	10,803
Total current liabilities	46,541	45,129	35,942
Long-term debt and finance lease obligations	132,377	138,025	141,309
Deferred tax liabilities	20,096	16,753	20,409
Long-term operating lease obligations	5,846	15,898	0
Other long-term liabilities	479	668	3,050
Total liabilities	205,339	216,473	200,710
Commitments and contingencies (Note 7)
Stockholders' equity:
Common stock, par value of $0.01 per share; 250,000,000 shares authorized as of September 30, 2019, March 31, 2019 and September 30, 2018; 50,013,772, 49,645,450 and 47,994,581 shares issued and outstanding as of September 30, 2019, March 31, 2019 and September 30, 2018, respectively	485	483	471
Additional paid-in capital	750,395	744,147	734,323
Accumulated deficit	(519,192)	(529,415)	(521,173)
Total stockholders' equity	231,688	215,215	213,621
Total liabilities and stockholders' equity	$ 437,027	$ 431,688	$ 414,331

Condensed consolidated balanc_2

Condensed consolidated balance sheets (unaudited) (Parenthetical) - $ / shares	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2018
Statement of Financial Position [Abstract]
Common stock, par value (in USD per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	250,000,000	250,000,000	250,000,000
Common stock, shares issued (in shares)	50,013,772	49,645,450	47,994,581
Common stock, shares outstanding (in shares)	50,013,772	49,645,450	47,994,581

Condensed consolidated statemen

Condensed consolidated statements of operations and comprehensive income (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Net sales	$ 67,615	$ 63,889	$ 127,379	$ 122,944
Cost of sales	24,267	24,920	46,840	47,330
Gross profit	43,348	38,969	80,539	75,614
Selling, general and administrative expenses	38,444	32,656	70,499	66,447
Restructuring income	(4,198)	0	(5,990)	0
Operating income	9,102	6,313	16,030	9,167
Other income, net	586	360	937	869
Interest expense, net	(1,643)	(1,901)	(3,360)	(3,890)
Income before provision for income taxes	8,045	4,772	13,607	6,146
Income tax provision	(1,528)	(857)	(3,384)	(983)
Net income	6,517	3,915	10,223	5,163
Comprehensive income	$ 6,517	$ 3,915	$ 10,223	$ 5,163
Net income per share:
Basic (in USD per share)	$ 0.13	$ 0.08	$ 0.21	$ 0.11
Diluted (in USD per share)	$ 0.13	$ 0.08	$ 0.20	$ 0.10
Weighted average shares outstanding:
Basic (in shares)	48,419,845	46,765,366	48,383,095	46,696,021
Diluted (in shares)	50,939,915	49,123,703	50,628,704	49,275,196

Condensed consolidated statem_2

Condensed consolidated statements of stockholders' equity (unaudited) - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	Accumulated deficit
Beginning balance at Mar. 31, 2018	$ 198,350	$ 465	$ 724,221	$ (526,336)
Beginning balance (in shares) at Mar. 31, 2018		46,539,619
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,248			1,248
Stock-based compensation	4,631		4,631
Exercise of stock options, net	285	$ 2	283
Exercise of stock options, net (in shares)		156,543
Ending balance at Jun. 30, 2018	204,514	$ 467	729,135	(525,088)
Ending balance (in shares) at Jun. 30, 2018		46,696,162
Beginning balance at Mar. 31, 2018	198,350	$ 465	724,221	(526,336)
Beginning balance (in shares) at Mar. 31, 2018		46,539,619
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	5,163
Ending balance at Sep. 30, 2018	213,621	$ 471	734,323	(521,173)
Ending balance (in shares) at Sep. 30, 2018		47,109,061
Beginning balance at Jun. 30, 2018	204,514	$ 467	729,135	(525,088)
Beginning balance (in shares) at Jun. 30, 2018		46,696,162
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	3,915			3,915
Stock-based compensation	4,193		4,193
Exercise of stock options, net	999	$ 4	995
Exercise of stock options, net (in shares)		412,899
Ending balance at Sep. 30, 2018	213,621	$ 471	734,323	(521,173)
Ending balance (in shares) at Sep. 30, 2018		47,109,061
Beginning balance at Mar. 31, 2019	215,215	$ 483	744,147	(529,415)
Beginning balance (in shares) at Mar. 31, 2019		48,288,720
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	3,706			3,706
Stock-based compensation	3,926		3,926
Exercise of stock options, net	240	$ 2	238
Exercise of stock options, net (in shares)		179,225,000
Repurchase of common stock	(1,079)	$ (1)	(1,078)
Repurchase of common stock (in shares)		(89,610,000)
Ending balance at Jun. 30, 2019	222,008	$ 484	747,233	(525,709)
Ending balance (in shares) at Jun. 30, 2019		48,378,335
Beginning balance at Mar. 31, 2019	215,215	$ 483	744,147	(529,415)
Beginning balance (in shares) at Mar. 31, 2019		48,288,720
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	10,223
Repurchase of common stock	$ (2,500)
Repurchase of common stock (in shares)	(178,636)
Ending balance at Sep. 30, 2019	$ 231,688	$ 485	750,395	(519,192)
Ending balance (in shares) at Sep. 30, 2019		48,526,112
Beginning balance at Jun. 30, 2019	222,008	$ 484	747,233	(525,709)
Beginning balance (in shares) at Jun. 30, 2019		48,378,335
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	6,517			6,517
Stock-based compensation	4,004		4,004
Exercise of stock options, net	626	$ 2	624
Exercise of stock options, net (in shares)		236,803
Repurchase of common stock	$ (1,467)	$ (1)	(1,466)
Repurchase of common stock (in shares)	(89,026)	(89,026)
Ending balance at Sep. 30, 2019	$ 231,688	$ 485	$ 750,395	$ (519,192)
Ending balance (in shares) at Sep. 30, 2019		48,526,112

Condensed consolidated statem_3

Condensed consolidated statements of cash flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities:
Net income	$ 10,223	$ 5,163
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	11,169	8,617
Restructuring income	(5,990)	0
Stock-based compensation expense	7,930	8,824
Amortization of debt issuance costs and discount on debt	379	397
Deferred income taxes	3,343	(1,649)
Other, net	364	50
Changes in operating assets and liabilities:
Accounts receivable	4,355	24
Inventories	(7,071)	8,363
Prepaid expenses and other assets	(1,202)	(1,268)
Accounts payable and accrued expenses	4,182	1,411
Other liabilities	(10,677)	69
Net cash provided by operating activities	17,005	30,001
Cash flows from investing activities:
Purchase of property and equipment	(5,534)	(3,789)
Net cash used in investing activities	(5,534)	(3,789)
Cash flows from financing activities:
Repayment of long-term debt	(4,538)	(4,125)
Repurchase of common stock	(2,546)	0
Cash received from issuance of common stock	866	1,284
Other, net	(380)	(197)
Net cash used in financing activities	(6,598)	(3,038)
Net increase in cash and cash equivalents	4,873	23,174
Cash and cash equivalents - beginning of period	53,874	10,474
Cash and cash equivalents - end of period	$ 58,747	$ 33,648

Nature of operations

Nature of operations	6 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of operations	Nature of operations e.l.f. Beauty, Inc. (“e.l.f. Beauty” and together with its subsidiaries, the “Company,” or “we”) was formed as a Delaware corporation on December 20, 2013 under the name J.A. Cosmetics Holdings, Inc. and changed its name to e.l.f. Beauty, Inc. in April 2016. e.l.f. Beauty is organized as a holding company and operates through its subsidiary, e.l.f. Cosmetics, Inc., which conducts business under the name “e.l.f. Cosmetics” or “e.l.f.” and has made the best of beauty accessible to every eye, lip and face by making high-quality products at an extraordinary value, all formulated 100% vegan and cruelty-free.

Summary of significant accounti

Summary of significant accounting policies	6 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Summary of significant accounting policies	Summary of significant accounting policies Basis of presentation The Company changed its fiscal year end from December 31st to March 31st effective on December 7, 2018. This document reflects the Company's second quarter of the fiscal year ending March 31, 2020, covering the period from July 1, 2019 to September 30, 2019 . The accompanying unaudited condensed consolidated financial statements and related notes have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion of the Company, these interim financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of its financial position as of September 30, 2019 , March 31, 2019 and September 30, 2018 , its results of operations and stockholders' equity for the three and six months ended September 30, 2019 and 2018 , and its cash flows for the six months ended September 30, 2019 and 2018 . The condensed consolidated balance sheet as of March 31, 2019 is unaudited and does not contain all footnote disclosures from the Company's annual financial statements. All intercompany balances and transactions have been eliminated in consolidation. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 (the “Annual Report”) and the Company's Transition Report on Form 10-QT for the three months ended March 31, 2019. Operating results for the interim periods are not necessarily indicative of the results that may be expected for the full year. Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Segment reporting Operating segments are components of an enterprise for which separate financial information is available that is evaluated by the Company's chief operating decision maker in deciding how to allocate resources and in assessing performance. Utilizing these criteria, the Company manages its business on the basis of one operating segment and one reportable segment. Significant accounting policies Effective January 1, 2019, the Company adopted the requirements of Accounting Standards Update (“ASU”) No. 2016-02, Leases (Accounting Standards Codification (“ASC”) Topic 842) (“ASC 842”) using the modified retrospective approach and elected the transition relief option to make the date of initial adoption concurrent with the effective date. Accordingly, comparative periods remain presented under ASC Topic 840, Leases ("ASC 840"). The Company also elected the following practical expedients: • The package of practical expedients, which permitted the carryforward of historical conclusions around lease identification, classification and initial direct costs; and • Non-separation of lease and non-lease components for commercial property leases. The Company made no other material changes in the application of its significant accounting policies that were disclosed in Note 2, “Summary of significant accounting policies,” to the audited consolidated financial statements as of and for the fiscal year ended December 31, 2018 included in the Annual Report. Revenue recognition The Company distributes product both through national and international retailers, as well as direct-to-consumers through its e-commerce channel and historically (prior to February 2019) through its e.l.f. retail stores. The marketing and consumer engagement benefits that the direct-to-consumer channel provides is integral to the Company’s brand and product development strategy and drives sales across channels. As such, the Company views its two primary distribution channels as components of one integrated business, as opposed to discrete revenue streams. The Company sells a variety of beauty products but does not consider them to be meaningfully different revenue streams given similarities in the nature of the products, the target consumer, and the innovation and distribution processes. The following table provides disaggregated revenue from contracts with customers by geographical market, as the nature, amount, timing and uncertainty of revenue and cash flows can differ between domestic and international customers (in thousands). Three months ended September 30, Six months ended September 30, Net sales by geographic region: 2019 2018 2019 2018 United States $ 59,731 $ 56,666 $ 113,511 $ 110,251 International 7,884 7,223 13,868 12,693 Total net sales $ 67,615 $ 63,889 $ 127,379 $ 122,944 As of September 30, 2019 , other than accounts receivable, the Company had no material contract assets, contract liabilities or deferred contract costs recorded on its condensed consolidated balance sheet. Recent accounting pronouncements The following table provides a brief description of recent accounting pronouncements that could have a material effect on the Company’s financial statements: Standard Description Date of expected adoption/adoption Effect on the financial statements or other significant matters Recently adopted accounting standards ASU 2016-02, Leases (Topic 842) The standard requires lessees to recognize a right-of-use asset and a lease liability for virtually all of their leases (other than leases that meet the definition of a short-term lease). The liability is equal to the present value of lease payments. The asset is based on the liability, subject to adjustment, such as for initial direct costs. Lessor accounting is similar to the current model, but updated to align with certain changes to the lessee model (e.g., certain definitions, such as initial direct costs, have been updated) and the new revenue recognition standard. It requires a modified retrospective approach for all leases existing at, or entered into after, the date of initial application. January 1, 2019 The Company adopted ASC 842 on a modified retrospective basis. The results for periods beginning after January 1, 2019 are presented under ASC 842, while comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The adoption of the new standard resulted in the recognition of the right of use (“ROU”) assets and lease liabilities for operating leases of approximately $21.2 million and $23.5 million, respectively, as of January 1, 2019, with corresponding adjustments to prepaid and deferred rent. As discussed in Note 9, “Restructuring and other related costs,” these assets and liabilities were subsequently adjusted as a result of the closure of all 22 e.l.f. retail stores in February 2019. The adoption of the standard did not impact the Company's beginning retained earnings, its consolidated statements of operations or cash flows. Standards that are not yet adopted ASU 2018-15, Intangibles-Goodwill and Other- Internal-Use Software (Subtopic 350-40) The standard will require customers in a cloud computing arrangement that is a service contract to follow the internal-use software guidance in ASC 350-40 to determine which implementation costs to capitalize as assets or expense as incurred. Certain implementation costs incurred during the application development stage would be deferred and capitalized (e.g., costs of integration with on-premises software, coding, configuration, customization). Other costs incurred during the preliminary project and post-implementation stages would be expensed (e.g., planning the project, training, maintenance after implementation, data conversion). The amendments in the ASU can be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. April 1, 2020 The Company is currently evaluating the effect of the standard on its consolidated financial statements and related disclosures.

Investment in equity securities

Investment in equity securities	6 Months Ended
	Sep. 30, 2019
Investments, All Other Investments [Abstract]
Investment in equity securities	Investment in equity securities On April 14, 2017, the Company invested $ 2.9 million in a social media analytics company, which is included in investments on its condensed consolidated balance sheets. The Company has elected the measurement alternative for equity investments that do not have readily determinable fair values. The Company did no t record an impairment charge on its investment during the three and six months ended September 30, 2019 or 2018 , as there were no significant identified events or changes in circumstances that would be considered an indicator for impairment. Further, there were no observable price changes in orderly transactions for the identical or a similar investment of the same issuer during the three and six months ended September 30, 2019 .

Goodwill and intangible assets

Goodwill and intangible assets	6 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and intangible assets	Goodwill and intangible assets Information regarding the Company’s goodwill and intangible assets as of September 30, 2019 is as follows (in thousands): Estimated useful life Gross carrying amount Accumulated amortization Net carrying amount Customer relationships – retailers 10 years $ 68,800 $ (38,987 ) $ 29,813 Customer relationships – e-commerce 3 years 3,900 (3,900 ) — Total finite-lived intangibles 72,700 (42,887 ) 29,813 Trademarks Indefinite 63,800 — 63,800 Goodwill 157,264 — 157,264 Total goodwill and other intangibles $ 293,764 $ (42,887 ) $ 250,877 Information regarding the Company’s goodwill and intangible assets as of March 31, 2019 is as follows (in thousands): Estimated useful life Gross carrying amount Accumulated amortization Net carrying amount Customer relationships – retailers 10 years $ 68,800 $ (35,547 ) $ 33,253 Customer relationships – e-commerce 3 years 3,900 (3,900 ) — Total finite-lived intangibles 72,700 (39,447 ) 33,253 Trademarks Indefinite 63,800 — 63,800 Goodwill 157,264 — 157,264 Total goodwill and other intangibles $ 293,764 $ (39,447 ) $ 254,317 Information regarding the Company’s goodwill and intangible assets as of September 30, 2018 is as follows (in thousands): Estimated useful life Gross carrying amount Accumulated amortization Net carrying amount Customer relationships – retailers 10 years $ 68,800 $ (32,107 ) $ 36,693 Customer relationships – e-commerce 3 years 3,900 (3,900 ) — Favorable leases, net Varies 580 (452 ) 128 Total finite-lived intangibles 73,280 (36,459 ) 36,821 Trademarks Indefinite 63,800 — 63,800 Goodwill 157,264 — 157,264 Total goodwill and other intangibles $ 294,344 $ (36,459 ) $ 257,885 Amortization expense on finite-lived intangible assets was $1.7 million and $3.4 million in the three and six months ended September 30, 2019 , respectively, and $1.8 million and $3.5 million in the three and six months ended September 30, 2018 , respectively. Trademark assets have been classified as indefinite-lived intangible assets and accordingly, are not subject to amortization. There were no impairments of goodwill or intangible assets recorded in the three and six months ended September 30, 2019 and 2018 . The estimated future amortization expense related to finite-lived intangible assets, assuming no impairment as of September 30, 2019 is as follows (in thousands): Remainder of 2020 $ 3,440 2021 6,880 2022 6,880 2023 6,880 2024 5,733 Thereafter — Total $ 29,813

Accrued expenses and other curr

Accrued expenses and other current liabilities	6 Months Ended
	Sep. 30, 2019
Payables and Accruals [Abstract]
Accrued expenses and other current liabilities	Accrued expenses and other current liabilities Accrued expenses and other current liabilities as of September 30, 2019 , March 31, 2019 and September 30, 2018 consisted of the following (in thousands): September 30, 2019 March 31, 2019 September 30, 2018 Accrued expenses $ 10,646 $ 9,594 $ 5,228 Current portion of operating lease liabilities 2,727 4,172 — Accrued compensation 5,390 3,200 4,005 Income taxes payable 125 123 — Other current liabilities 1,536 1,501 1,570 Accrued expenses and other current liabilities $ 20,424 $ 18,590 $ 10,803

Debt

Debt	6 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt	Debt The Company’s outstanding debt as of September 30, 2019 , March 31, 2019 and September 30, 2018 consisted of the following (in thousands): September 30, 2019 March 31, 2019 September 30, 2018 Term loan (1) $ 140,543 $ 144,810 $ 148,659 Finance lease obligations 3,402 3,783 2,079 Total debt (2) 143,945 148,593 150,738 Less: debt issuance costs (258 ) (309 ) (362 ) Total debt, net of issuance costs 143,687 148,284 150,376 Less: current portion (11,310 ) (10,259 ) (9,067 ) Long-term portion of debt $ 132,377 $ 138,025 $ 141,309 (1) See Note 8, “Debt,” to the consolidated financial statements included in the Annual Report for details regarding the Senior Secured Credit Agreement (as defined below under the heading “Description of indebtedness”). As of September 30, 2019 , the Company was in compliance with all applicable financial covenants. (2) The gross carrying amounts of the Company’s long-term debt, before reduction of the debt issuance costs, and finance lease obligations approximate their fair values, based on Level 2 inputs (quoted prices for similar assets and liabilities in active markets or inputs that are observable), as the stated rates approximate market rates for loans with similar terms. The Company did not transfer any liabilities measured at fair value on a recurring basis to or from Level 2 for any of the periods presented.

Contingencies

Contingencies	6 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies Legal contingencies From time to time, the Company may become involved in legal proceedings, claims and litigation arising in the ordinary course of business. The Company is not currently a party to any matters that management expects will have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows.

Stock-based compensation

Stock-based compensation	6 Months Ended
	Sep. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based compensation	Stock-based compensation Service-based vesting stock options The following table summarizes the activity for options that vest solely based upon the satisfaction of a service condition for the six months ended September 30, 2019 : Options outstanding Weighted-average exercise price Weighted-average remaining contractual life (in years) Aggregate intrinsic values (in thousands) Balance as of March 31, 2019 2,575,579 $ 12.24 Granted 83,760 12.22 Exercised (203,376 ) 4.09 Canceled or forfeited (236,249 ) 16.19 Balance as of September 30, 2019 2,219,714 $ 12.57 7.0 $ 12,072 Exercisable, September 30, 2019 1,430,689 $ 11.04 6.3 $ 9,741 The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the Company's closing stock price of $17.51 , as reported on the New York Stock Exchange on September 30, 2019 . The Company recognized stock-based compensation cost related to service-based vesting options of $0.6 million and $1.2 million in the three and six months ended September 30, 2019 , respectively, and $0.8 million and $1.7 million in the three and six months ended September 30, 2018 , respectively. As of September 30, 2019 , there was $4.2 million of total unrecognized stock-based compensation cost related to unvested service-based stock options, which is expected to be recognized over the remaining weighted-average period of 2.2 years . All stock-based compensation cost is recorded in selling, general and administrative expenses. Performance-based and market-based vesting stock options The following table summarizes the activity for stock options that vest based upon the satisfaction of performance or market conditions for the six months ended September 30, 2019 : Options outstanding Weighted-average exercise price Weighted-average remaining contractual life (in years) Aggregate intrinsic values (in thousands) Balance as of March 31, 2019 1,323,432 $ 7.96 Exercised (15,150 ) 2.37 Balance as of September 30, 2019 1,308,282 $ 8.03 5.5 $ 15,368 Exercisable, September 30, 2019 990,882 $ 2.00 4.8 $ 15,368 The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the Company's closing stock price of $17.51 , as reported on the New York Stock Exchange on September 30, 2019 . The Company recognized stock-based compensation cost related to performance-based and market-based vesting options of $0.2 million and $0.6 million in the three and six months ended September 30, 2018 , respectively. As of September 30, 2019 , there was no unrecognized compensation cost related to performance-based and market-based vesting stock options. Restricted stock The following table summarizes the activities for restricted stock awards (“RSAs”) and restricted stock units (“RSUs”) for the six months ended September 30, 2019 : Shares of restricted stock outstanding Weighted-average grant date fair value Balance as of March 31, 2019 2,786,398 $ 13.26 Granted 304,947 12.63 Vested (197,502 ) 17.31 Canceled or forfeited (197,010 ) 13.12 Balance as of September 30, 2019 2,696,833 $ 12.99 As of September 30, 2019 , there were 1,487,660 unvested shares subject to RSAs outstanding. The Company recognized stock-based compensation cost related to RSAs and RSUs of $3.4 million and $6.7 million in the three and six months ended September 30, 2019 , respectively, and $3.2 million and $6.5 million in the three and six months ended September 30, 2018 , respectively. As of September 30, 2019 , there was $28.2 million of total unrecognized stock-based compensation cost related to unvested RSAs and RSUs, which is expected to be recognized over a weighted-average period of 2.7 years .

Restructuring and other related

Restructuring and other related costs	6 Months Ended
	Sep. 30, 2019
Restructuring and Related Activities [Abstract]
Restructuring and other related costs	Restructuring and other related costs In February 2019, the Company closed all 22 e.l.f. retail stores and implemented a workforce reduction of employees that operated and managed the e.l.f. retail stores (the “Restructuring Plan”). The Restructuring Plan resulted in the termination of the employment of 170 retail store employees and 5 corporate employees who managed and operated the e.l.f. retail stores. The purpose of the Restructuring Plan was to enable a reallocation of investment against the e.l.f. brand and prioritization of the Company's national retailer and digital channels. The following table presents the restructuring (income) expenses incurred in the three and six months ended September 30, 2019 with respect to the Restructuring Plan (in thousands): Three months ended September 30, 2019 Six months ended September 30, 2019 Gain from extinguishment of lease liabilities $ (5,096 ) $ (7,733 ) Other costs, including other asset write-offs 898 1,743 Total $ (4,198 ) $ (5,990 ) The gain from extinguishment of lease liabilities represents the difference between the aggregate operating lease liability and the aggregate cash payment incurred to extinguish such liability. The majority of the other costs incurred during the six months ended September 30, 2019 are legal fees related to these extinguishments. As of September 30, 2019, the Company has settled all outstanding lease liabilities related to its e.l.f. retail store closures and does not expect to incur additional material costs associated with the Restructuring Plan. Liabilities related to the Restructuring Plan are reported within accrued expenses and other current liabilities in the accompanying condensed consolidated balance sheets. The following table presents a roll-forward of the Company's restructuring liability for the three and six months ended September 30, 2019 (in thousands); Employee severance and related expenses Other costs Total June 30, 2019 $ — $ 318 $ 318 Costs incurred — 898 898 Cash disbursements — (373 ) (373 ) Other adjustments — (6 ) (6 ) September 30, 2019 $ — $ 837 $ 837 Employee severance and related expenses Other costs Total March 31, 2019 $ 96 $ 675 $ 771 Costs incurred (22 ) 1,765 1,743 Cash disbursements (74 ) (1,466 ) (1,540 ) Other adjustments — (137 ) (137 ) September 30, 2019 $ — $ 837 $ 837 Outstanding lease liabilities are not included in the table above, as those liabilities were established upon adoption of ASC 842, not in connection with the Restructuring Plan. The Company expects to make all cash disbursements in connection with the Restructuring Plan by the end of the fiscal year ending March 31, 2020.

Repurchase of common stock

Repurchase of common stock	6 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Repurchase of common stock	Repurchase of common stock On May 8, 2019, the Company's board of directors authorized a share repurchase program to acquire up to $25.0 million of the Company’s common stock (the “Share Repurchase Program”). Purchases under the Share Repurchase Program may be made from time to time through a variety of methods, which may include open market purchases, privately negotiated transactions, block trades, accelerated share repurchase transactions, or by any combination of such methods. The timing and amount of any repurchases pursuant to the Share Repurchase Program will be determined based on market conditions, share price and other factors. The Share Repurchase Program does not require the Company to repurchase any specific number of shares of its common stock, and may be modified, suspended or terminated at any time without notice. There is no guarantee that any shares will be purchased under the Share Repurchase Program and such shares are intended to be retired after purchase. During the three months ended September 30, 2019 , the Company repurchased a total of 89,026 shares for $1.5 million at an average price of $16.50 , and during the six months ended September 30, 2019 , the Company repurchased a total of 178,636 shares for $2.5 million at an average price of $14.27 under the Share Repurchase Program. A total of $22.5 million remains available for purchase under the Share Repurchase Program.

Net income per share

Net income per share	6 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Net income per share	Net income per share The Company computes basic net income per share using the weighted average number of common shares outstanding. Diluted net income per share amounts are calculated using the treasury stock method for equity-based compensation awards. The following is a reconciliation of the numerator and denominator in the basic and diluted net income per common share computations (in thousands, except share and per share data): Three months ended September 30, Six months ended September 30, 2019 2018 2019 2018 Numerator: Net income $ 6,517 $ 3,915 $ 10,223 $ 5,163 Denominator: Weighted average common shares outstanding - basic 48,419,845 46,765,366 48,383,095 46,696,021 Dilutive common equivalent shares from equity awards 2,520,070 2,358,337 2,245,609 2,579,175 Weighted average common shares outstanding - diluted 50,939,915 49,123,703 50,628,704 49,275,196 Net income per share: Basic $ 0.13 $ 0.08 $ 0.21 $ 0.11 Diluted $ 0.13 $ 0.08 $ 0.20 $ 0.10 Weighted average anti-dilutive shares from outstanding equity awards excluded from diluted earnings per share 1,944,662 3,929,621 2,417,982 3,385,489

Leases

Leases	6 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	Leases The Company leases warehouses, distribution centers, office space, and equipment. Prior to the Restructuring Plan, the Company also leased retail store locations. The majority of the Company's leases include one or more options to renew, with renewal terms that can extend the lease term for up to five years . The exercise of lease renewal options is at the Company's sole discretion and such renewal options are included in the lease term if they are reasonably certain to be exercised. Certain leases also include options to purchase the leased asset. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. Most of the Company's equipment leases are finance leases of assets used to operate its distribution centers in Ontario, California and Columbus, Ohio. Significant judgment is required to determine whether commercial contracts contain a lease for purposes of ASC 842. The discount rate used in measuring lease liabilities is generally based on the interest rate on the Company’s revolving line of credit, assuming sufficient unused capacity exists at the time the lease liability is measured. A reconciliation of the balance sheet line items that were impacted or created as a result of the Company’s adoption of ASC 842 is as follows (in thousands): Classification September 30, 2019 Assets Operating lease assets (a) Other assets $ 8,080 Finance lease assets (b) Other assets 2,591 Total leased assets $ 10,671 Liabilities Current Operating (a) Accrued expenses and other current liabilities $ 2,727 Finance Current portion of long-term debt and finance lease obligations 791 Noncurrent Operating (a) Long-term operating lease obligations 5,846 Finance Long-term debt and finance lease obligations 2,611 Total lease liabilities $ 11,975 ___________________ (a) In accordance with ASC 842, $15.7 million of ROU assets related to operating leases were derecognized in the three months ended March 31, 2019 in connection with the Restructuring Plan. Pursuant to ASC 842, each related lease liability is derecognized only after the Company is released from that liability. See Note 9, “Restructuring and other related costs” for further details on the Restructuring Plan and the gain recorded on lease liabilities derecognized in the six months ended September 30, 2019 . (b) Finance leases are recorded net of accumulated amortization of $2.4 million as of September 30, 2019 . The components of operating and finance lease costs were as follows (in thousands): Classification Three months ended September 30, Six months ended September 30, Operating lease cost Selling, general and administrative (“SG&A”) expenses $ 755 $ 1,384 Gain from extinguishment of lease liabilities Restructuring income (5,096 ) (7,733 ) Finance lease cost Amortization of leased assets SG&A expenses 249 499 Interest on lease liabilities Interest expense, net 46 94 Total lease (gain) costs $ (4,046 ) $ (5,756 ) As of September 30, 2019 , the aggregate future minimum lease payments under non-cancellable leases presented in accordance with ASC 842 are as follows (in thousands): Operating leases Finance leases Total Remainder of 2020 $ 1,433 $ 474 $ 1,907 2021 3,159 950 4,109 2022 1,591 908 2,499 2023 1,179 1,208 2,387 2024 1,198 234 1,432 Thereafter 764 — 764 Total lease payments 9,324 3,774 $ 13,098 Less: Interest 751 372 Present value of lease liabilities $ 8,573 $ 3,402 For leases commencing prior to January 1, 2019, minimum lease payments exclude payments to landlords for real estate taxes and common area maintenance. These payments can be either fixed or variable, depending on the lease. As of December 31, 2018, the aggregate future minimum lease payments under non-cancellable leases presented in accordance with ASC 840 were as follows (in thousands): Year ending December 31, 2019 $ 5,375 2020 5,210 2021 3,876 2022 2,832 2023 2,858 Thereafter 7,167 Total $ 27,318 The weighted average remaining lease term (in years) and discount rate were as follows: September 30, 2019 Weighted-average remaining lease term Operating leases 3.5 years Finance leases 3.8 years Weighted-average discount rate Operating leases 4.6 % Finance leases 5.2 % Operating cash outflows from operating leases for the six months ended September 30, 2019 were $9.0 million .
Leases	Leases The Company leases warehouses, distribution centers, office space, and equipment. Prior to the Restructuring Plan, the Company also leased retail store locations. The majority of the Company's leases include one or more options to renew, with renewal terms that can extend the lease term for up to five years . The exercise of lease renewal options is at the Company's sole discretion and such renewal options are included in the lease term if they are reasonably certain to be exercised. Certain leases also include options to purchase the leased asset. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. Most of the Company's equipment leases are finance leases of assets used to operate its distribution centers in Ontario, California and Columbus, Ohio. Significant judgment is required to determine whether commercial contracts contain a lease for purposes of ASC 842. The discount rate used in measuring lease liabilities is generally based on the interest rate on the Company’s revolving line of credit, assuming sufficient unused capacity exists at the time the lease liability is measured. A reconciliation of the balance sheet line items that were impacted or created as a result of the Company’s adoption of ASC 842 is as follows (in thousands): Classification September 30, 2019 Assets Operating lease assets (a) Other assets $ 8,080 Finance lease assets (b) Other assets 2,591 Total leased assets $ 10,671 Liabilities Current Operating (a) Accrued expenses and other current liabilities $ 2,727 Finance Current portion of long-term debt and finance lease obligations 791 Noncurrent Operating (a) Long-term operating lease obligations 5,846 Finance Long-term debt and finance lease obligations 2,611 Total lease liabilities $ 11,975 ___________________ (a) In accordance with ASC 842, $15.7 million of ROU assets related to operating leases were derecognized in the three months ended March 31, 2019 in connection with the Restructuring Plan. Pursuant to ASC 842, each related lease liability is derecognized only after the Company is released from that liability. See Note 9, “Restructuring and other related costs” for further details on the Restructuring Plan and the gain recorded on lease liabilities derecognized in the six months ended September 30, 2019 . (b) Finance leases are recorded net of accumulated amortization of $2.4 million as of September 30, 2019 . The components of operating and finance lease costs were as follows (in thousands): Classification Three months ended September 30, Six months ended September 30, Operating lease cost Selling, general and administrative (“SG&A”) expenses $ 755 $ 1,384 Gain from extinguishment of lease liabilities Restructuring income (5,096 ) (7,733 ) Finance lease cost Amortization of leased assets SG&A expenses 249 499 Interest on lease liabilities Interest expense, net 46 94 Total lease (gain) costs $ (4,046 ) $ (5,756 ) As of September 30, 2019 , the aggregate future minimum lease payments under non-cancellable leases presented in accordance with ASC 842 are as follows (in thousands): Operating leases Finance leases Total Remainder of 2020 $ 1,433 $ 474 $ 1,907 2021 3,159 950 4,109 2022 1,591 908 2,499 2023 1,179 1,208 2,387 2024 1,198 234 1,432 Thereafter 764 — 764 Total lease payments 9,324 3,774 $ 13,098 Less: Interest 751 372 Present value of lease liabilities $ 8,573 $ 3,402 For leases commencing prior to January 1, 2019, minimum lease payments exclude payments to landlords for real estate taxes and common area maintenance. These payments can be either fixed or variable, depending on the lease. As of December 31, 2018, the aggregate future minimum lease payments under non-cancellable leases presented in accordance with ASC 840 were as follows (in thousands): Year ending December 31, 2019 $ 5,375 2020 5,210 2021 3,876 2022 2,832 2023 2,858 Thereafter 7,167 Total $ 27,318 The weighted average remaining lease term (in years) and discount rate were as follows: September 30, 2019 Weighted-average remaining lease term Operating leases 3.5 years Finance leases 3.8 years Weighted-average discount rate Operating leases 4.6 % Finance leases 5.2 % Operating cash outflows from operating leases for the six months ended September 30, 2019 were $9.0 million .

Subsequent events

Subsequent events	6 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
Subsequent events	Subsequent events XXX

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The Company changed its fiscal year end from December 31st to March 31st effective on December 7, 2018. This document reflects the Company's second quarter of the fiscal year ending March 31, 2020, covering the period from July 1, 2019 to September 30, 2019 . The accompanying unaudited condensed consolidated financial statements and related notes have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion of the Company, these interim financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of its financial position as of September 30, 2019 , March 31, 2019 and September 30, 2018 , its results of operations and stockholders' equity for the three and six months ended September 30, 2019 and 2018 , and its cash flows for the six months ended September 30, 2019 and 2018 . The condensed consolidated balance sheet as of March 31, 2019 is unaudited and does not contain all footnote disclosures from the Company's annual financial statements. All intercompany balances and transactions have been eliminated in consolidation. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 (the “Annual Report”) and the Company's Transition Report on Form 10-QT for the three months ended March 31, 2019. Operating results for the interim periods are not necessarily indicative of the results that may be expected for the full year.
Use of estimates	Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.
Segment reporting	Segment reporting Operating segments are components of an enterprise for which separate financial information is available that is evaluated by the Company's chief operating decision maker in deciding how to allocate resources and in assessing performance. Utilizing these criteria, the Company manages its business on the basis of one operating segment and one reportable segment.
Revenue recognition	Revenue recognition The Company distributes product both through national and international retailers, as well as direct-to-consumers through its e-commerce channel and historically (prior to February 2019) through its e.l.f. retail stores. The marketing and consumer engagement benefits that the direct-to-consumer channel provides is integral to the Company’s brand and product development strategy and drives sales across channels. As such, the Company views its two primary distribution channels as components of one integrated business, as opposed to discrete revenue streams. The Company sells a variety of beauty products but does not consider them to be meaningfully different revenue streams given similarities in the nature of the products, the target consumer, and the innovation and distribution processes. The following table provides disaggregated revenue from contracts with customers by geographical market, as the nature, amount, timing and uncertainty of revenue and cash flows can differ between domestic and international customers (in thousands). Three months ended September 30, Six months ended September 30, Net sales by geographic region: 2019 2018 2019 2018 United States $ 59,731 $ 56,666 $ 113,511 $ 110,251 International 7,884 7,223 13,868 12,693 Total net sales $ 67,615 $ 63,889 $ 127,379 $ 122,944 As of September 30, 2019 , other than accounts receivable, the Company had no material contract assets, contract liabilities or deferred contract costs recorded on its condensed consolidated balance sheet.
Recent accounting pronouncements	Recent accounting pronouncements The following table provides a brief description of recent accounting pronouncements that could have a material effect on the Company’s financial statements: Standard Description Date of expected adoption/adoption Effect on the financial statements or other significant matters Recently adopted accounting standards ASU 2016-02, Leases (Topic 842) The standard requires lessees to recognize a right-of-use asset and a lease liability for virtually all of their leases (other than leases that meet the definition of a short-term lease). The liability is equal to the present value of lease payments. The asset is based on the liability, subject to adjustment, such as for initial direct costs. Lessor accounting is similar to the current model, but updated to align with certain changes to the lessee model (e.g., certain definitions, such as initial direct costs, have been updated) and the new revenue recognition standard. It requires a modified retrospective approach for all leases existing at, or entered into after, the date of initial application. January 1, 2019 The Company adopted ASC 842 on a modified retrospective basis. The results for periods beginning after January 1, 2019 are presented under ASC 842, while comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The adoption of the new standard resulted in the recognition of the right of use (“ROU”) assets and lease liabilities for operating leases of approximately $21.2 million and $23.5 million, respectively, as of January 1, 2019, with corresponding adjustments to prepaid and deferred rent. As discussed in Note 9, “Restructuring and other related costs,” these assets and liabilities were subsequently adjusted as a result of the closure of all 22 e.l.f. retail stores in February 2019. The adoption of the standard did not impact the Company's beginning retained earnings, its consolidated statements of operations or cash flows. Standards that are not yet adopted ASU 2018-15, Intangibles-Goodwill and Other- Internal-Use Software (Subtopic 350-40) The standard will require customers in a cloud computing arrangement that is a service contract to follow the internal-use software guidance in ASC 350-40 to determine which implementation costs to capitalize as assets or expense as incurred. Certain implementation costs incurred during the application development stage would be deferred and capitalized (e.g., costs of integration with on-premises software, coding, configuration, customization). Other costs incurred during the preliminary project and post-implementation stages would be expensed (e.g., planning the project, training, maintenance after implementation, data conversion). The amendments in the ASU can be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. April 1, 2020 The Company is currently evaluating the effect of the standard on its consolidated financial statements and related disclosures.

Summary of significant accoun_3

Summary of significant accounting policies (Tables)	6 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Disaggregation of Revenue	The following table provides disaggregated revenue from contracts with customers by geographical market, as the nature, amount, timing and uncertainty of revenue and cash flows can differ between domestic and international customers (in thousands). Three months ended September 30, Six months ended September 30, Net sales by geographic region: 2019 2018 2019 2018 United States $ 59,731 $ 56,666 $ 113,511 $ 110,251 International 7,884 7,223 13,868 12,693 Total net sales $ 67,615 $ 63,889 $ 127,379 $ 122,944

Goodwill and intangible assets

Goodwill and intangible assets (Tables)	6 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Information Regarding Company's Goodwill and Intangible Assets	Information regarding the Company’s goodwill and intangible assets as of September 30, 2019 is as follows (in thousands): Estimated useful life Gross carrying amount Accumulated amortization Net carrying amount Customer relationships – retailers 10 years $ 68,800 $ (38,987 ) $ 29,813 Customer relationships – e-commerce 3 years 3,900 (3,900 ) — Total finite-lived intangibles 72,700 (42,887 ) 29,813 Trademarks Indefinite 63,800 — 63,800 Goodwill 157,264 — 157,264 Total goodwill and other intangibles $ 293,764 $ (42,887 ) $ 250,877 Information regarding the Company’s goodwill and intangible assets as of March 31, 2019 is as follows (in thousands): Estimated useful life Gross carrying amount Accumulated amortization Net carrying amount Customer relationships – retailers 10 years $ 68,800 $ (35,547 ) $ 33,253 Customer relationships – e-commerce 3 years 3,900 (3,900 ) — Total finite-lived intangibles 72,700 (39,447 ) 33,253 Trademarks Indefinite 63,800 — 63,800 Goodwill 157,264 — 157,264 Total goodwill and other intangibles $ 293,764 $ (39,447 ) $ 254,317 Information regarding the Company’s goodwill and intangible assets as of September 30, 2018 is as follows (in thousands): Estimated useful life Gross carrying amount Accumulated amortization Net carrying amount Customer relationships – retailers 10 years $ 68,800 $ (32,107 ) $ 36,693 Customer relationships – e-commerce 3 years 3,900 (3,900 ) — Favorable leases, net Varies 580 (452 ) 128 Total finite-lived intangibles 73,280 (36,459 ) 36,821 Trademarks Indefinite 63,800 — 63,800 Goodwill 157,264 — 157,264 Total goodwill and other intangibles $ 294,344 $ (36,459 ) $ 257,885
Future Amortization Expense for Intangible Assets	The estimated future amortization expense related to finite-lived intangible assets, assuming no impairment as of September 30, 2019 is as follows (in thousands): Remainder of 2020 $ 3,440 2021 6,880 2022 6,880 2023 6,880 2024 5,733 Thereafter — Total $ 29,813

Accrued expenses and other cu_2

Accrued expenses and other current liabilities (Tables)	6 Months Ended
	Sep. 30, 2019
Payables and Accruals [Abstract]
Summary of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities as of September 30, 2019 , March 31, 2019 and September 30, 2018 consisted of the following (in thousands): September 30, 2019 March 31, 2019 September 30, 2018 Accrued expenses $ 10,646 $ 9,594 $ 5,228 Current portion of operating lease liabilities 2,727 4,172 — Accrued compensation 5,390 3,200 4,005 Income taxes payable 125 123 — Other current liabilities 1,536 1,501 1,570 Accrued expenses and other current liabilities $ 20,424 $ 18,590 $ 10,803

Debt (Tables)

Debt (Tables)	6 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of Outstanding Debt	The Company’s outstanding debt as of September 30, 2019 , March 31, 2019 and September 30, 2018 consisted of the following (in thousands): September 30, 2019 March 31, 2019 September 30, 2018 Term loan (1) $ 140,543 $ 144,810 $ 148,659 Finance lease obligations 3,402 3,783 2,079 Total debt (2) 143,945 148,593 150,738 Less: debt issuance costs (258 ) (309 ) (362 ) Total debt, net of issuance costs 143,687 148,284 150,376 Less: current portion (11,310 ) (10,259 ) (9,067 ) Long-term portion of debt $ 132,377 $ 138,025 $ 141,309 (1) See Note 8, “Debt,” to the consolidated financial statements included in the Annual Report for details regarding the Senior Secured Credit Agreement (as defined below under the heading “Description of indebtedness”). As of September 30, 2019 , the Company was in compliance with all applicable financial covenants. (2) The gross carrying amounts of the Company’s long-term debt, before reduction of the debt issuance costs, and finance lease obligations approximate their fair values, based on Level 2 inputs (quoted prices for similar assets and liabilities in active markets or inputs that are observable), as the stated rates approximate market rates for loans with similar terms. The Company did not transfer any liabilities measured at fair value on a recurring basis to or from Level 2 for any of the periods presented.

Stock-based compensation (Table

Stock-based compensation (Tables)	6 Months Ended
	Sep. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Stock Option Activity and Related Information	The following table summarizes the activity for stock options that vest based upon the satisfaction of performance or market conditions for the six months ended September 30, 2019 : Options outstanding Weighted-average exercise price Weighted-average remaining contractual life (in years) Aggregate intrinsic values (in thousands) Balance as of March 31, 2019 1,323,432 $ 7.96 Exercised (15,150 ) 2.37 Balance as of September 30, 2019 1,308,282 $ 8.03 5.5 $ 15,368 Exercisable, September 30, 2019 990,882 $ 2.00 4.8 $ 15,368 The following table summarizes the activity for options that vest solely based upon the satisfaction of a service condition for the six months ended September 30, 2019 : Options outstanding Weighted-average exercise price Weighted-average remaining contractual life (in years) Aggregate intrinsic values (in thousands) Balance as of March 31, 2019 2,575,579 $ 12.24 Granted 83,760 12.22 Exercised (203,376 ) 4.09 Canceled or forfeited (236,249 ) 16.19 Balance as of September 30, 2019 2,219,714 $ 12.57 7.0 $ 12,072 Exercisable, September 30, 2019 1,430,689 $ 11.04 6.3 $ 9,741
Summary of Activities for Restricted Stock Awards ("RSAs") and Restricted Stock Units ("RSUs")	The following table summarizes the activities for restricted stock awards (“RSAs”) and restricted stock units (“RSUs”) for the six months ended September 30, 2019 : Shares of restricted stock outstanding Weighted-average grant date fair value Balance as of March 31, 2019 2,786,398 $ 13.26 Granted 304,947 12.63 Vested (197,502 ) 17.31 Canceled or forfeited (197,010 ) 13.12 Balance as of September 30, 2019 2,696,833 $ 12.99

Restructuring and other relat_2

Restructuring and other related costs (Tables)	6 Months Ended
	Sep. 30, 2019
Restructuring and Related Activities [Abstract]
Restructuring Expenses	The following table presents the restructuring (income) expenses incurred in the three and six months ended September 30, 2019 with respect to the Restructuring Plan (in thousands): Three months ended September 30, 2019 Six months ended September 30, 2019 Gain from extinguishment of lease liabilities $ (5,096 ) $ (7,733 ) Other costs, including other asset write-offs 898 1,743 Total $ (4,198 ) $ (5,990 )
Restructuring Related Liabilities	The following table presents a roll-forward of the Company's restructuring liability for the three and six months ended September 30, 2019 (in thousands); Employee severance and related expenses Other costs Total June 30, 2019 $ — $ 318 $ 318 Costs incurred — 898 898 Cash disbursements — (373 ) (373 ) Other adjustments — (6 ) (6 ) September 30, 2019 $ — $ 837 $ 837 Employee severance and related expenses Other costs Total March 31, 2019 $ 96 $ 675 $ 771 Costs incurred (22 ) 1,765 1,743 Cash disbursements (74 ) (1,466 ) (1,540 ) Other adjustments — (137 ) (137 ) September 30, 2019 $ — $ 837 $ 837

Net income per share (Tables)

Net income per share (Tables)	6 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Reconciliation of Numerator and Denominator in Basic and Diluted Net Income (Loss) Per Common Share Computations	The following is a reconciliation of the numerator and denominator in the basic and diluted net income per common share computations (in thousands, except share and per share data): Three months ended September 30, Six months ended September 30, 2019 2018 2019 2018 Numerator: Net income $ 6,517 $ 3,915 $ 10,223 $ 5,163 Denominator: Weighted average common shares outstanding - basic 48,419,845 46,765,366 48,383,095 46,696,021 Dilutive common equivalent shares from equity awards 2,520,070 2,358,337 2,245,609 2,579,175 Weighted average common shares outstanding - diluted 50,939,915 49,123,703 50,628,704 49,275,196 Net income per share: Basic $ 0.13 $ 0.08 $ 0.21 $ 0.11 Diluted $ 0.13 $ 0.08 $ 0.20 $ 0.10 Weighted average anti-dilutive shares from outstanding equity awards excluded from diluted earnings per share 1,944,662 3,929,621 2,417,982 3,385,489

Leases (Tables)

Leases (Tables)	6 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Balance Sheet Information	A reconciliation of the balance sheet line items that were impacted or created as a result of the Company’s adoption of ASC 842 is as follows (in thousands): Classification September 30, 2019 Assets Operating lease assets (a) Other assets $ 8,080 Finance lease assets (b) Other assets 2,591 Total leased assets $ 10,671 Liabilities Current Operating (a) Accrued expenses and other current liabilities $ 2,727 Finance Current portion of long-term debt and finance lease obligations 791 Noncurrent Operating (a) Long-term operating lease obligations 5,846 Finance Long-term debt and finance lease obligations 2,611 Total lease liabilities $ 11,975 ___________________ (a) In accordance with ASC 842, $15.7 million of ROU assets related to operating leases were derecognized in the three months ended March 31, 2019 in connection with the Restructuring Plan. Pursuant to ASC 842, each related lease liability is derecognized only after the Company is released from that liability. See Note 9, “Restructuring and other related costs” for further details on the Restructuring Plan and the gain recorded on lease liabilities derecognized in the six months ended September 30, 2019 . (b) Finance leases are recorded net of accumulated amortization of $2.4 million as of September 30, 2019 . As of December 31, 2018, the aggregate future minimum lease payments under non-cancellable leases presented in accordance with ASC 840 were as follows (in thousands): Year ending December 31, 2019 $ 5,375 2020 5,210 2021 3,876 2022 2,832 2023 2,858 Thereafter 7,167 Total $ 27,318 The weighted average remaining lease term (in years) and discount rate were as follows: September 30, 2019 Weighted-average remaining lease term Operating leases 3.5 years Finance leases 3.8 years Weighted-average discount rate Operating leases 4.6 % Finance leases 5.2 %
Components of Lease Expense	The components of operating and finance lease costs were as follows (in thousands): Classification Three months ended September 30, Six months ended September 30, Operating lease cost Selling, general and administrative (“SG&A”) expenses $ 755 $ 1,384 Gain from extinguishment of lease liabilities Restructuring income (5,096 ) (7,733 ) Finance lease cost Amortization of leased assets SG&A expenses 249 499 Interest on lease liabilities Interest expense, net 46 94 Total lease (gain) costs $ (4,046 ) $ (5,756 )
Maturities of Operating Lease Liabilities	As of September 30, 2019 , the aggregate future minimum lease payments under non-cancellable leases presented in accordance with ASC 842 are as follows (in thousands): Operating leases Finance leases Total Remainder of 2020 $ 1,433 $ 474 $ 1,907 2021 3,159 950 4,109 2022 1,591 908 2,499 2023 1,179 1,208 2,387 2024 1,198 234 1,432 Thereafter 764 — 764 Total lease payments 9,324 3,774 $ 13,098 Less: Interest 751 372 Present value of lease liabilities $ 8,573 $ 3,402
Maturities of Finance Lease Liabilities	As of September 30, 2019 , the aggregate future minimum lease payments under non-cancellable leases presented in accordance with ASC 842 are as follows (in thousands): Operating leases Finance leases Total Remainder of 2020 $ 1,433 $ 474 $ 1,907 2021 3,159 950 4,109 2022 1,591 908 2,499 2023 1,179 1,208 2,387 2024 1,198 234 1,432 Thereafter 764 — 764 Total lease payments 9,324 3,774 $ 13,098 Less: Interest 751 372 Present value of lease liabilities $ 8,573 $ 3,402
Schedule of Future Minimum Lease Payments	As of December 31, 2018, the aggregate future minimum lease payments under non-cancellable leases presented in accordance with ASC 840 were as follows (in thousands): Year ending December 31, 2019 $ 5,375 2020 5,210 2021 3,876 2022 2,832 2023 2,858 Thereafter 7,167 Total $ 27,318

Summary of significant accoun_4

Summary of significant accounting policies - Additional Information (Details)	6 Months Ended
	Sep. 30, 2019segment
Accounting Policies [Abstract]
Number of operating segments	1
Number of reporting segments	1

Summary of significant accoun_5

Summary of significant accounting policies - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Total net sales	$ 67,615	$ 63,889	$ 127,379	$ 122,944
United States
Disaggregation of Revenue [Line Items]
Total net sales	59,731	56,666	113,511	110,251
International
Disaggregation of Revenue [Line Items]
Total net sales	$ 7,884	$ 7,223	$ 13,868	$ 12,693

Summary of significant accoun_6

Summary of significant accounting policies - Recent Accounting Pronouncements (Details) $ in Thousands	1 Months Ended
	Feb. 28, 2019store	Sep. 30, 2019USD ($)	Jan. 01, 2019USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease ROU assets		$ 8,080
Present value of lease liabilities		$ 8,573
Number of stores closed | store	22
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease ROU assets			$ 21,200
Present value of lease liabilities			$ 23,500

Investment in equity securiti_2

Investment in equity securities - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Apr. 14, 2017
Debt and Equity Securities, FV-NI [Line Items]
Impairment charges on investment	$ 0	$ 0	$ 0	$ 0
Social Media Analytics Company
Debt and Equity Securities, FV-NI [Line Items]
Amount invested in minority equity investment					$ 2,900,000

Goodwill and intangible asset_2

Goodwill and intangible assets - Information Regarding Company's Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Mar. 31, 2019
Schedule Of Intangible Assets And Goodwill [Line Items]
Total finite-lived intangibles, Gross carrying amount	$ 72,700	$ 73,280	$ 72,700
Total finite-lived intangibles, Accumulated amortization	(42,887)	(36,459)	(39,447)
Total	29,813	36,821	33,253
Goodwill, Gross carrying amount	157,264	157,264	157,264
Goodwill, Accumulated amortization	0	0	0
Goodwill, Net carrying amount	157,264	157,264	157,264
Total goodwill and other intangibles, Gross carrying amount	293,764	294,344	293,764
Total goodwill and other intangibles, Accumulated amortization	(42,887)	(36,459)	(39,447)
Total goodwill and other intangibles, Net carrying amount	250,877	257,885	254,317
Trademarks
Schedule Of Intangible Assets And Goodwill [Line Items]
Indefinite lived intangibles, Net carrying amount	$ 63,800	$ 63,800	$ 63,800
Customer relationships – retailers
Schedule Of Intangible Assets And Goodwill [Line Items]
Estimated useful life	10 years	10 years	10 years
Total finite-lived intangibles, Gross carrying amount	$ 68,800	$ 68,800	$ 68,800
Total finite-lived intangibles, Accumulated amortization	(38,987)	(32,107)	(35,547)
Total	$ 29,813	$ 36,693	$ 33,253
Customer relationships – e-commerce
Schedule Of Intangible Assets And Goodwill [Line Items]
Estimated useful life	3 years	3 years	3 years
Total finite-lived intangibles, Gross carrying amount	$ 3,900	$ 3,900	$ 3,900
Total finite-lived intangibles, Accumulated amortization	(3,900)	(3,900)	(3,900)
Total	$ 0	0	$ 0
Favorable leases, net
Schedule Of Intangible Assets And Goodwill [Line Items]
Total finite-lived intangibles, Gross carrying amount		580
Total finite-lived intangibles, Accumulated amortization		(452)
Total		$ 128

Goodwill and intangible asset_3

Goodwill and intangible assets - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense related to intangible assets	$ 1,700,000	$ 1,800,000	$ 3,400,000	$ 3,500,000
Impairments of goodwill or intangible assets	$ 0	$ 0	$ 0	$ 0

Goodwill and intangible asset_4

Goodwill and intangible assets - Future Amortization Expense for Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2020	$ 3,440
2021	6,880
2022	6,880
2023	6,880
2024	5,733
Thereafter	0
Total	$ 29,813	$ 33,253	$ 36,821

Accrued expenses and other cu_3

Accrued expenses and other current liabilities - Summary of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2018
Payables and Accruals [Abstract]
Accrued expenses	$ 10,646	$ 9,594	$ 5,228
Current portion of operating lease liabilities	2,727	4,172	0
Accrued compensation	5,390	3,200	4,005
Income taxes payable	125	123	0
Other current liabilities	1,536	1,501	1,570
Accrued expenses and other current liabilities	$ 20,424	$ 18,590	$ 10,803

Debt - Schedule of Outstanding

Debt - Schedule of Outstanding Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2018
Debt Instrument [Line Items]
Finance lease obligations	$ 3,402	$ 3,783	$ 2,079
Total debt	143,945	148,593	150,738
Less: debt issuance costs	(258)	(309)	(362)
Total debt, net of issuance costs	143,687	148,284	150,376
Less: current portion	(11,310)	(10,259)	(9,067)
Long-term portion of debt	132,377	138,025	141,309
Term Loan
Debt Instrument [Line Items]
Debt	$ 140,543	$ 144,810	$ 148,659

Stock-based compensation - Summ

Stock-based compensation - Summary of Activity for Options Vest Solely Based upon Satisfaction of Service Condition (Details) - Service-based Vesting Stock Options - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Sep. 30, 2019
Options outstanding
Beginning balance (in shares)	2,575,579
Granted (in shares)	83,760
Exercised (in shares)	(203,376)
Canceled or forfeited (in shares)	(236,249)
Ending balance (in shares)	2,219,714
Options outstanding, Exercisable (in shares)	1,430,689
Weighted-average exercise price
Beginning balance (in USD per share)	$ 12.24
Granted (in USD per share)	12.22
Exercised (in USD per share)	4.09
Canceled or forfeited (in USD per share)	16.19
Ending balance (in USD per share)	12.57
Weighted-average exercise price, Exercisable (in USD per share)	$ 11.04
Weighted-average remaining contractual life (in years), Outstanding	7 years
Weighted-average remaining contractual life (in years), Exercisable	6 years 3 months 18 days
Aggregate intrinsic values, Outstanding	$ 12,072
Aggregate intrinsic values, Exercisable	$ 9,741

Stock-based compensation - Narr

Stock-based compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing stock price (in USD per share)	$ 17.51		$ 17.51
Service-based Vesting Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation cost	$ 0.6	$ 0.8	$ 1.2	$ 1.7
Unrecognized stock-based compensation cost	$ 4.2		$ 4.2
Unrecognized stock-based compensation cost, expected weighted-average period of recognition			2 years 2 months
Performance-based and Market-based Vesting Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation cost		0.2		0.6
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested RSAs outstanding (in shares)	1,487,660		1,487,660
Restricted Stock Awards and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation cost	$ 3.4	$ 3.2	$ 6.7	$ 6.5
Unrecognized stock-based compensation cost, expected weighted-average period of recognition			2 years 8 months 12 days
Unvested RSAs outstanding (in shares)	2,696,833		2,696,833		2,786,398
Unrecognized stock-based compensation cost	$ 28.2		$ 28.2

Stock-based compensation - Su_2

Stock-based compensation - Summary of Activity for Options Vest Based upon Performance or Market Conditions (Details) - Performance-based and Market-based Vesting Options - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Sep. 30, 2019
Options outstanding
Beginning balance (in shares)	1,323,432
Exercised (in shares)	(15,150)
Ending balance (in shares)	1,308,282
Options outstanding, Exercisable (in shares)	990,882
Weighted-average exercise price
Beginning balance (in USD per share)	$ 7.96
Exercised (in USD per share)	2.37
Ending balance (in USD per share)	8.03
Weighted-average exercise price, Exercisable (in USD per share)	$ 2
Weighted-average remaining contractual life (in years), Outstanding	5 years 6 months
Weighted-average remaining contractual life (in years), Exercisable	4 years 9 months 29 days
Aggregate intrinsic values, Outstanding	$ 15,368
Aggregate intrinsic values, Exercisable	$ 15,368

Stock-based compensation - Su_3

Stock-based compensation - Summary of Activities for Restricted Stock Awards ("RSAs") and Restricted Stock Units ("RSUs") (Details) - Restricted Stock Awards and Restricted Stock Units	6 Months Ended
	Sep. 30, 2019$ / sharesshares
Shares of restricted stock outstanding
Beginning balance (in shares) | shares	2,786,398
Granted (in shares) | shares	304,947
Vested (in shares) | shares	(197,502)
Canceled or forfeited (in shares) | shares	(197,010)
Ending balance (in shares) | shares	2,696,833
Weighted-average grant date fair value
Beginning balance (in USD per share) | $ / shares	$ 13.26
Granted (in USD per share) | $ / shares	12.63
Vested (in USD per share) | $ / shares	17.31
Canceled or forfeited (in USD per share) | $ / shares	13.12
Ending balance (in USD per share) | $ / shares	$ 12.99

Restructuring and other relat_3

Restructuring and other related costs - Narrative (Details)	1 Months Ended
	Feb. 28, 2019storeemployee
Restructuring Cost and Reserve [Line Items]
Number of stores closed | store	22
Retail Store Employees
Restructuring Cost and Reserve [Line Items]
Number of positions eliminated	170
Corporate Employees
Restructuring Cost and Reserve [Line Items]
Number of positions eliminated	5

Restructuring and other relat_4

Restructuring and other related costs - Restructuring expenses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Restructuring and Related Activities [Abstract]
Gain from extinguishment of lease liabilities	$ (5,096)		$ (7,733)
Other costs, including other asset write-offs	898		1,743
Total	$ (4,198)	$ 0	$ (5,990)	$ 0

Restructuring and other relat_5

Restructuring and other related costs - Restructuring related liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Restructuring Reserve [Roll Forward]
Costs incurred	$ (4,198)	$ 0	$ (5,990)	$ 0
Employee severance and related expenses
Restructuring Reserve [Roll Forward]
Beginning balance	0		96
Costs incurred	0		(22)
Cash disbursements	0		(74)
Other adjustments	0		0
Ending balance	0		0
Other costs
Restructuring Reserve [Roll Forward]
Beginning balance	318		675
Costs incurred	898		1,765
Cash disbursements	(373)		(1,466)
Other adjustments	(6)		(137)
Ending balance	837		837
Employee severance and related expenses and other costs
Restructuring Reserve [Roll Forward]
Beginning balance	318		771
Costs incurred	898		1,743
Cash disbursements	(373)		(1,540)
Other adjustments	(6)		(137)
Ending balance	$ 837		$ 837

Repurchase of common stock - Na

Repurchase of common stock - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2019	May 08, 2019
Equity [Abstract]
Amount authorized under share repurchase program				$ 25,000,000
Total shares repurchased (in shares)	89,026		178,636
Stock repurchased during period	$ 1,467,000	$ 1,079,000	$ 2,500,000
Average price per share (in USD per share)	$ 16.50		$ 14.27
Remaining authorized repurchase amount	$ 22,500,000		$ 22,500,000

Net income per share - Reconcil

Net income per share - Reconciliation of Numerator and Denominator in Basic and Diluted Net Income (Loss) Per Common Share Computations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2018	Jun. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Numerator:
Net income	$ 6,517	$ 3,706	$ 3,915	$ 1,248	$ 10,223	$ 5,163
Denominator:
Weighted average common shares outstanding - basic (in shares)	48,419,845		46,765,366		48,383,095	46,696,021
Dilutive common equivalent shares from equity awards (in shares)	2,520,070		2,358,337		2,245,609	2,579,175
Weighted average common shares outstanding - diluted (in shares)	50,939,915		49,123,703		50,628,704	49,275,196
Net income per share:
Basic (in USD per share)	$ 0.13		$ 0.08		$ 0.21	$ 0.11
Diluted (in USD per share)	$ 0.13		$ 0.08		$ 0.20	$ 0.10
Anti-dilutive securities excluded from diluted EPS:
Weighted average anti-dilutive shares from outstanding equity awards excluded from diluted earnings per share (in shares)	1,944,662		3,929,621		2,417,982	3,385,489

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	6 Months Ended
	Sep. 30, 2019USD ($)
Leases [Abstract]
Lessee operating lease, option to extend	P5Y
Operating cash flows from operating leases	$ 9

Leases - Balance Sheet Line Ite

Leases - Balance Sheet Line Items (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Sep. 30, 2019	Sep. 30, 2018
Assets
Operating lease assets		$ 8,080
Finance lease assets		2,591
Total leased assets		10,671
Current
Operating	$ 4,172	2,727	$ 0
Finance		791
Noncurrent
Operating	15,898	5,846	$ 0
Finance		2,611
Total lease liabilities		11,975
ROU assets derecognized through restructuring	$ 15,700
Finance lease accumulated amortization		$ (2,400)

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Operating lease cost	$ 755	$ 1,384
Gain from extinguishment of lease liabilities	(5,096)	(7,733)
Finance lease cost
Amortization of leased assets	249	499
Interest on lease liabilities	46	94
Total lease (gain) costs	$ (4,046)	$ (5,756)

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018
Operating leases
Remainder of 2020	$ 1,433
2021	3,159
2022	1,591
2023	1,179
2024	1,198
Thereafter	764
Total lease payments	9,324
Less: Interest	751
Present value of lease liabilities	8,573
Finance leases
Remainder of 2020	474
2021	950
2022	908
2023	1,208
2024	234
Thereafter	0
Total lease payments	3,774
Less: Interest	372
Present value of lease liabilities	3,402	$ 3,783		$ 2,079
Total
Remainder of 2020	1,907
2021	4,109
2022	2,499
2023	2,387
2024	1,432
Thereafter	764
Total lease payments	$ 13,098
Aggregate Future MInimum Lease Payments
2019			$ 5,375
2020			5,210
2021			3,876
2022			2,832
2023			2,858
Thereafter			7,167
Total			$ 27,318

Leases - Weighted Average Assum

Leases - Weighted Average Assumptions (Details)	Sep. 30, 2019
Weighted-average remaining lease term
Operating leases	3 years 6 months
Finance leases	3 years 9 months
Weighted-average discount rate
Operating leases	4.60%
Finance leases	5.20%