e.l.f. Beauty (ELF) 10-Q 5 Aug 21 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Jun. 30, 2021	Jul. 30, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-37873
Entity Registrant Name	e.l.f. Beauty, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-4464131
Entity Address, Address Line One	570 10th Street
Entity Address, City or Town	Oakland,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94607
City Area Code	(510)
Local Phone Number	778-7787
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ELF
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		51,826,156
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001600033
Current Fiscal Year End Date	--03-31
Entity Filer Category	Large Accelerated Filer

Condensed consolidated balance

Condensed consolidated balance sheets (unaudited) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020
Current assets:
Cash and cash equivalents	$ 63,402	$ 57,768	$ 54,224
Accounts receivable, net	43,127	40,185	29,825
Inventory, net	54,528	56,810	52,752
Prepaid expenses and other current assets	21,674	15,381	8,714
Total current assets	182,731	170,144	145,515
Property and equipment, net	15,561	13,770	16,146
Intangible assets, net	92,256	94,286	100,379
Goodwill	171,620	171,620	171,321
Investments	2,875	2,875	2,875
Other assets	33,349	34,698	25,832
Total assets	498,392	487,393	462,068
Current liabilities:
Current portion of long-term debt and finance lease obligations	32,247	16,281	13,187
Accounts payable	17,113	15,699	21,484
Accrued expenses and other current liabilities	33,617	41,351	22,560
Total current liabilities	82,977	73,331	57,231
Long-term debt and finance lease obligations	95,254	110,255	122,701
Deferred tax liabilities	17,750	13,479	21,478
Long-term operating lease obligations	19,053	20,084	11,400
Other long-term liabilities	736	598	550
Total liabilities	215,770	217,747	213,360
Commitments and contingencies (Note 7)
Stockholders' equity:
Common stock, par value of $0.01 per share; 250,000,000 shares authorized as of June 30, 2021, March 31, 2021 and June 30, 2020; 51,826,156, 51,590,830 and 50,708,699 shares issued and outstanding as of June 30, 2021, March 31, 2021 and June 30, 2020, respectively	508	504	491
Additional paid-in capital	779,137	774,441	758,236
Accumulated deficit	(497,023)	(505,299)	(510,019)
Total stockholders' equity	282,622	269,646	248,708
Total liabilities and stockholders' equity	$ 498,392	$ 487,393	$ 462,068

Condensed consolidated balanc_2

Condensed consolidated balance sheets (unaudited) (Parenthetical) - $ / shares	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020
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)	51,826,156	51,590,830	50,708,699
Common stock, shares outstanding (in shares)	51,826,156	51,590,830	50,708,699

Condensed consolidated statemen

Condensed consolidated statements of operations and comprehensive income (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Net sales	$ 97,047	$ 64,527
Cost of sales	35,141	21,186
Gross profit	61,906	43,341
Selling, general and administrative expenses	50,749	40,332
Restructuring income	(14)	0
Operating income	11,171	3,009
Other expense, net	(162)	(30)
Interest expense, net	(745)	(1,468)
Loss on extinguishment of debt	(460)	0
Income before provision for income taxes	9,804	1,511
Income tax (provision) benefit	(1,528)	1
Net income	8,276	1,512
Comprehensive income	$ 8,276	$ 1,512
Net income per share:
Basic (in USD per share)	$ 0.16	$ 0.03
Diluted (in USD per share)	$ 0.15	$ 0.03
Weighted average shares outstanding:
Basic (in shares)	50,544,573	48,924,454
Diluted (in shares)	53,408,443	50,939,938

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, 2020	$ 242,171	$ 489	$ 753,213	$ (511,531)
Beginning balance (in shares) at Mar. 31, 2020		48,874,742,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,512			1,512
Stock-based compensation	4,627		4,627
Exercise of stock options and vesting of restricted stock	398	$ 2	396
Exercise of stock options and vesting of restricted stock (in shares)		175,561,000
Ending balance at Jun. 30, 2020	248,708	$ 491	758,236	(510,019)
Ending balance (in shares) at Jun. 30, 2020		49,050,303,000
Beginning balance at Mar. 31, 2021	269,646	$ 504	774,441	(505,299)
Beginning balance (in shares) at Mar. 31, 2021		50,400,510,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	8,276			8,276
Stock-based compensation	4,190		4,190
Exercise of stock options and vesting of restricted stock	510	$ 4	506
Exercise of stock options and vesting of restricted stock (in shares)		358,575,000
Ending balance at Jun. 30, 2021	$ 282,622	$ 508	$ 779,137	$ (497,023)
Ending balance (in shares) at Jun. 30, 2021		50,759,085,000

Condensed consolidated statem_3

Condensed consolidated statements of cash flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net income	$ 8,276	$ 1,512
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	6,222	6,429
Restructuring income	(14)	0
Stock-based compensation expense	4,280	4,627
Amortization of debt issuance costs and discount on debt	118	214
Deferred income taxes	4,271	(414)
Loss on extinguishment of debt	460	0
Other, net	97	72
Changes in operating assets and liabilities:
Accounts receivable	(2,971)	(174)
Inventories	2,320	(6,543)
Prepaid expenses and other assets	(7,131)	1,065
Accounts payable and accrued expenses	(7,419)	5,891
Other liabilities	(1,017)	(856)
Net cash provided by operating activities	7,492	11,823
Cash flows from investing activities:
Purchase of property and equipment	(2,336)	(1,155)
Net cash used in investing activities	(2,336)	(1,155)
Cash flows from financing activities:
Proceeds from revolving line of credit	26,480	20,000
Repayment of revolving line of credit	0	(20,000)
Proceeds from long term debt	25,581	0
Repayment of long-term debt	(50,775)	(2,475)
Debt issuance costs paid	(1,064)	(334)
Cash received from issuance of common stock	463	398
Other, net	(207)	(200)
Net cash provided by (used in) financing activities	478	(2,611)
Net increase in cash and cash equivalents	5,634	8,057
Cash and cash equivalents - beginning of period	57,768	46,167
Cash and cash equivalents - end of period	$ 63,402	$ 54,224

Nature of operations

Nature of operations	3 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of operations	Nature of operations e.l.f. Beauty, Inc., a Delaware corporation, (“e.l.f. Beauty” and together with its subsidiaries, the “Company,” or “we”) is a multi-brand beauty company that offers inclusive, accessible, cruelty-free cosmetics and skin-care products. Our mission is to make the best of beauty accessible to every eye, lip and face. We believe our ability to deliver 100% cruelty-free, premium-quality products at accessible prices with broad appeal differentiates us in the beauty industry. We believe the combination of our fundamental value equation, digitally-led strategy, as well as our world-class team’s ability to execute with speed, has positioned us well to navigate a rapidly changing landscape in beauty. Our family of brands includes e.l.f. Cosmetics, e.l.f. Skin, W3LL PEOPLE and Keys Soulcare. Our brands are available online and across leading beauty, mass-market and clean-beauty specialty retailers. We have strong relationships with our retail partners such as Walmart, Target, Ulta Beauty and other leading retailers that have enabled us to expand distribution both domestically and internationally.

Summary of significant accounti

Summary of significant accounting policies	3 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Summary of significant accounting policies	Summary of significant accounting policies Basis of presentation 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 June 30, 2021, March 31, 2021 and June 30, 2020, and its results of operations and stockholders' equity for the three months ended June 30, 2021 and June 30, 2020 and its cash flows for the three months ended June 30, 2021 and June 30, 2020. 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 fiscal year ended March 31, 2021 (the “Annual Report”). 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 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. It is impracticable for the Company to provide revenue by product line. Significant accounting policies Business combinations The purchase price of a business acquisition is allocated to the assets acquired and liabilities assumed based upon their estimated fair values at the business combination date. The excess of purchase price over the fair value of assets acquired and liabilities assumed is recorded as goodwill. Determining fair value of identifiable assets, particularly intangibles, and liabilities acquired also requires the Company to make estimates, which are based on all available information and in some cases assumptions with respect to the timing and amount of future revenues and expenses associated with an asset. Unanticipated events or circumstances may occur that could affect the accuracy of the Company's fair value estimates, and under different assumptions, the resulting valuations could be materially different. Costs that are incurred to complete the business combination, such as legal and other professional fees, are not considered as a part of consideration transferred and are charged to selling, general and administrative expense as they are incurred. The Company made no 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 March 31, 2021 included in the Annual Report. Revenue recognition The Company distributes products both through national and international retailers, as well as direct-to-consumers through its e-commerce channel. 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 June 30, Net sales by geographic region: 2021 2020 United States $ 86,632 $ 57,897 International 10,415 6,630 Total net sales $ 97,047 $ 64,527 As of June 30, 2021, 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 No new accounting pronouncement have been recently issued or newly effective which would have or be expected to have a material impact on the Company’s condensed consolidated financial statements.

Investment in equity securities

Investment in equity securities	3 Months Ended
	Jun. 30, 2021
Investments, All Other Investments [Abstract]
Investment in equity securities	Investment in equity securitiesOn 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 not record an impairment charge on its investment during the three months ended June 30, 2021 and June 30, 2020, as any identified events or changes in circumstances did not result in 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 months ended June 30, 2021.

Goodwill and intangible assets

Goodwill and intangible assets	3 Months Ended
	Jun. 30, 2021
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 June 30, 2021 is as follows (in thousands): Estimated useful life Gross carrying amount Accumulated amortization Net carrying amount Customer relationships – retailers 10 years $ 77,600 $ (52,200) $ 25,400 Customer relationships – e-commerce 3 years 3,940 (3,918) 22 Trademarks 10 years 3,500 (466) 3,034 Total finite-lived intangibles 85,040 (56,584) 28,456 Trademarks Indefinite 63,800 — 63,800 Goodwill 171,620 — 171,620 Total goodwill and other intangibles $ 320,460 $ (56,584) $ 263,876 Information regarding the Company’s goodwill and intangible assets as of March 31, 2021 is as follows (in thousands): Estimated useful life Gross carrying amount Accumulated amortization Net carrying amount Customer relationships – retailers 10 years $ 77,600 $ (50,260) $ 27,340 Customer relationships – e-commerce 3 years 3,940 (3,915) 25 Trademarks 10 years 3,500 (379) 3,121 Total finite-lived intangibles 85,040 (54,554) 30,486 Trademarks Indefinite 63,800 — 63,800 Goodwill 171,620 — 171,620 Total goodwill and other intangibles $ 320,460 $ (54,554) $ 265,906 Information regarding the Company’s goodwill and intangible assets as of June 30, 2020 is as follows (in thousands): Estimated useful life Gross carrying amount Accumulated amortization Net carrying amount Customer relationships – retailers 10 years $ 77,600 $ (44,440) $ 33,160 Customer relationships – e-commerce 3 years 3,940 (3,904) 36 Trademarks 10 years 3,500 (117) 3,383 Total finite-lived intangibles 85,040 (48,461) 36,579 Trademarks Indefinite 63,800 — 63,800 Goodwill 171,321 — 171,321 Total goodwill and other intangibles $ 320,161 $ (48,461) $ 271,700 Amortization expense on finite-lived intangible assets was $2.0 million for both the three months ended June 30, 2021 and June 30, 2020. Certain 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 months ended June 30, 2021 and June 30, 2020. The estimated future amortization expense related to finite-lived intangible assets, assuming no impairment as of June 30, 2021 is as follows (in thousands): Remainder of Fiscal 2022 $ 6,093 2023 8,122 2024 6,963 2025 1,230 2026 1,230 Thereafter 4,818 Total $ 28,456

Accrued expenses and other curr

Accrued expenses and other current liabilities	3 Months Ended
	Jun. 30, 2021
Payables and Accruals [Abstract]
Accrued expenses and other current liabilities	Accrued expenses and other current liabilities Accrued expenses and other current liabilities as of June 30, 2021, March 31, 2021 and June 30, 2020 consisted of the following (in thousands): June 30, 2021 March 31, 2021 June 30, 2020 Accrued expenses $ 22,835 $ 21,300 $ 14,138 Current portion of operating lease liabilities 4,168 4,292 3,200 Accrued compensation 3,297 10,805 3,404 Other current liabilities 3,317 4,954 1,818 Accrued expenses and other current liabilities $ 33,617 $ 41,351 $ 22,560

Debt

Debt	3 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt The Company’s outstanding debt as of June 30, 2021, March 31, 2021 and June 30, 2020 consisted of the following (in thousands): June 30, 2021 March 31, 2021 June 30, 2020 Revolving credit facility (1) $ 26,480 $ — $ — Term loan (1) 100,000 124,589 133,505 Finance lease obligations 1,993 2,200 2,812 Total debt (2) 128,473 126,789 136,317 Less: debt issuance costs (972) (253) (429) Total debt, net of issuance costs 127,501 126,536 135,888 Less: current portion (32,247) (16,281) (13,187) Long-term portion of debt $ 95,254 $ 110,255 $ 122,701 (1) See Note 10, “Debt,” to the consolidated financial statements included in the Annual Report for details regarding the Senior Secured Credit Agreement, as amended (the "Amended Credit Agreement”). As of June 30, 2021, the Company was in compliance with all applicable financial covenants under the Amended Credit Agreement. (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. Amended credit agreement On April 30, 2021, the Company amended and restated its prior credit agreement (the “Amended Credit Agreement”), amended and restated the prior term loan facility and the prior revolving credit facility, and refinanced all loans under the prior credit agreement. The Amended Credit Agreement has a five year term and consists of (i) a $100 million revolving credit facility (the “Amended Revolving Credit Facility”) and (ii) a $100 million term loan facility (the “Amended Term Loan Facility”). The Company's prior credit agreement consisted of a $165 million term loan and a $50 million revolving credit facility. All amounts under the Amended Revolving Credit Facility are available for draw until the maturity date on April 30, 2026. The Amended Revolving Credit Facility is collateralized by substantially all of our assets and requires payment of an unused fee ranging from 0.10% to 0.30% (based on our consolidated total net leverage ratio (as defined in the Amended Credit Agreement)) times the average daily amount of unutilized commitments under the Amended Revolving Credit Facility. The Amended Revolving Credit Facility also provides for sub-facilities in the form of a $7 million letter of credit and a $5 million swing line loan; however, all amounts under the Amended Revolving Credit Facility cannot exceed $100 million. The unused balance of the Amended Revolving Credit Facility as of June 30, 2021 was $73.3 million. Both the Amended Revolving Credit Facility and the Amended Term Loan Facility bear interest, at borrowers’ option, at either (i) a rate per annum equal to an adjusted LIBOR rate determined by reference to the cost of funds for the United States ("U.S.") dollar deposits for the applicable interest period (subject to a minimum floor of 0%) plus an applicable margin ranging from 1.25% to 2.125% based on our consolidated total net leverage ratio or (ii) a floating base rate plus an applicable margin ranging from 0.25% to 1.125% based on our consolidated total net leverage ratio. The interest rate as of June 30, 2021 for the Amended Term Loan Facility was approximately 1.6%. The Amended Credit Agreement contains a number of covenants that, among other things, restrict our ability to (subject to certain exceptions) pay dividends and distributions or repurchase our capital stock, incur additional indebtedness, create liens on assets, engage in mergers or consolidations and sell or otherwise dispose of assets. The Amended Credit Agreement also includes reporting, financial and maintenance covenants that require us to, among other things, comply with certain consolidated total net leverage ratios and consolidated fixed charge coverage ratios. In accordance with ASC 470, Debt,

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and contingencies Legal contingencies The Company is from time to time subject to, and is currently 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	3 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [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 three months ended June 30, 2021: Shares subject to options Weighted-average exercise price Weighted-average remaining Aggregate intrinsic Balance as of March 31, 2021 1,640,981 $ 14.86 Exercised (54,220) 7.94 Balance as of June 30, 2021 1,586,761 $ 15.09 5.8 $ 19,116 Exercisable, June 30, 2021 1,281,223 $ 15.26 5.3 $ 15,226 The aggregate intrinsic value is calculated as the difference between the exercise price of the options and the Company's closing stock price of $27.14, as reported on the New York Stock Exchange on June 30, 2021. The Company recognized stock-based compensation cost related to service-based vesting options of $0.3 million and $0.6 million in the three months ended June 30, 2021 and June 30, 2020, respectively. As of June 30, 2021, there was $1.3 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 2.0 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-based vesting conditions for the three months ended June 30, 2021: Shares subject to options Weighted-average exercise price Weighted-average remaining Aggregate intrinsic Balance as of March 31, 2021 1,108,592 $ 8.72 Exercised (35,625) 2.25 Balance as of June 30, 2021 1,072,967 $ 8.94 3.8 $ 19,531 Exercisable, June 30, 2021 772,967 $ 1.99 3.0 $ 19,441 The aggregate intrinsic value is calculated as the difference between the exercise price of the options and the Company's closing stock price of $27.14, as reported on the New York Stock Exchange on June 30, 2021. As of June 30, 2021 and June 30, 2020, there was no unrecognized compensation cost related to stock options with performance-based and market-based vesting conditions. Restricted stock and RSUs The following table summarizes the activities for restricted stock awards (“RSAs”) and restricted stock units (“RSUs”) for the three months ended June 30, 2021: RSUs and shares of restricted stock outstanding Weighted-average grant date fair value Balance as of March 31, 2021 2,289,615 $ 14.67 Granted 759,580 27.56 Vested (268,730) 16.35 Canceled or forfeited (87,424) 14.88 Balance as of June 30, 2021 2,693,041 $ 18.13 As of June 30, 2021, there were 1,067,071 unvested shares subject to RSAs outstanding. The Company recognized stock-based compensation cost related to RSAs and RSUs of $4.0 million and $4.1 million in the three months ended June 30, 2021 and June 30, 2020, respectively. As of June 30, 2021, there was $41.3 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 2.4 years.

Restructuring and other related

Restructuring and other related costs	3 Months Ended
	Jun. 30, 2021
Restructuring and Related Activities [Abstract]
Restructuring and other related costs	Restructuring and other related costs 2021 Restructuring Plan In March 2021, a restructuring plan (the "2021 Restructuring Plan") was approved to close the Company's manufacturing plant in Rancho Cucamonga, California. Activities associated with the 2021 Restructuring Plan included: (i) the closure of the facility; (ii) the impairment of plant assets, including equipment and leasehold improvements; (iii) the disposal of excess inventory on hand at the plant; and (iv) the termination of manufacturing plant employees. The following table presents the restructuring expense (income) incurred during the three months ended June 30, 2021 (in thousands) in connection with the 2021 Restructuring Plan: June 30, 2021 Gain on sale of property, plant and equipment (152) Other costs, including other asset write-offs $ 138 Total $ (14)

Repurchase of common stock

Repurchase of common stock	3 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Repurchase of common stock	Repurchase of common stock On May 8, 2019, the Company announced that its 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 additional shares will be purchased under the Share Repurchase Program and such shares are intended to be retired after purchase. The Company did not repurchase any shares during the three months ended June 30, 2021. A total of $17.1 million remains available for purchase under the Share Repurchase Program as of June 30, 2021.

Net income per share

Net income per share	3 Months Ended
	Jun. 30, 2021
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 shares of common stock 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 June 30, 2021 2020 Numerator: Net income $ 8,276 $ 1,512 Denominator: Weighted-average common shares outstanding – basic 50,544,573 48,924,454 Dilutive common equivalent shares from equity awards 2,863,870 2,015,484 Weighted-average common shares outstanding – diluted 53,408,443 50,939,938 Net income per share: Basic $ 0.16 $ 0.03 Diluted $ 0.15 $ 0.03 Weighted-average anti-dilutive shares from outstanding equity awards excluded from diluted earnings per share — 2,567,951

Leases

Leases	3 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Leases	Leases The Company leases warehouses, distribution centers, office space, retail space and equipment. 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 as of June 30, 2021, March 31, 2021 and June 30, 2020 were as follows (in thousands): Classification June 30, 2021 March 31, 2021 June 30, 2020 Assets Operating lease assets Other assets $ 21,490 $ 22,691 $ 13,695 Finance lease assets (a) Other assets 979 1,100 1,846 Total leased assets $ 22,469 $ 23,791 $ 15,541 Liabilities Current Operating Accrued expenses and other current liabilities $ 4,168 $ 4,292 $ 3,200 Finance Current portion of long-term debt and finance lease obligations 768 812 812 Noncurrent Operating Long-term operating lease obligations 19,053 20,084 11,400 Finance Long-term debt and finance lease obligations 1,225 1,388 2,000 Total lease liabilities $ 25,214 $ 26,576 $ 17,412 _____________________ (a) Finance leases are recorded net of accumulated amortization of $2.7 million, $3.2 million and $3.2 million as of June 30, 2021, March 31, 2021 and June 30, 2020, respectively. For the three months ended June 30, 2021 and June 30, 2020, the components of operating and finance lease costs were as follows (in thousands): Three months ended June 30, Classification 2021 2020 Operating lease cost Selling, general and administrative (“SG&A”) expenses $ 1,070 $ 1,080 Finance lease cost Amortization of leased assets SG&A expenses 121 248 Interest on lease liabilities Interest expense, net 24 38 Total lease cost $ 1,215 $ 1,366 As of June 30, 2021, the aggregate future minimum lease payments under non-cancellable leases presented in accordance with ASC 842 are as follows (in thousands): Operating Finance Total Remainder of Fiscal 2022 $ 3,538 $ 612 $ 4,150 2023 4,864 817 5,681 2024 4,890 582 5,472 2025 4,075 58 4,133 2026 3,091 — 3,091 Thereafter 4,606 — 4,606 Total lease payments 25,064 2,069 $ 27,133 Less: Interest 1,843 76 Present value of lease liabilities $ 23,221 $ 1,993 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 June 30, 2021 and June 30, 2020, the weighted-average remaining lease term (in years) and discount rate were as follows: June 30, 2021 June 30, 2020 Weighted-average remaining lease term Operating leases 5.8 years 6.7 years Finance leases 2.6 years 3.0 years Weighted-average discount rate Operating leases 2.8 % 3.6 % Finance leases 3.0 % 5.2 %
Leases	Leases The Company leases warehouses, distribution centers, office space, retail space and equipment. 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 as of June 30, 2021, March 31, 2021 and June 30, 2020 were as follows (in thousands): Classification June 30, 2021 March 31, 2021 June 30, 2020 Assets Operating lease assets Other assets $ 21,490 $ 22,691 $ 13,695 Finance lease assets (a) Other assets 979 1,100 1,846 Total leased assets $ 22,469 $ 23,791 $ 15,541 Liabilities Current Operating Accrued expenses and other current liabilities $ 4,168 $ 4,292 $ 3,200 Finance Current portion of long-term debt and finance lease obligations 768 812 812 Noncurrent Operating Long-term operating lease obligations 19,053 20,084 11,400 Finance Long-term debt and finance lease obligations 1,225 1,388 2,000 Total lease liabilities $ 25,214 $ 26,576 $ 17,412 _____________________ (a) Finance leases are recorded net of accumulated amortization of $2.7 million, $3.2 million and $3.2 million as of June 30, 2021, March 31, 2021 and June 30, 2020, respectively. For the three months ended June 30, 2021 and June 30, 2020, the components of operating and finance lease costs were as follows (in thousands): Three months ended June 30, Classification 2021 2020 Operating lease cost Selling, general and administrative (“SG&A”) expenses $ 1,070 $ 1,080 Finance lease cost Amortization of leased assets SG&A expenses 121 248 Interest on lease liabilities Interest expense, net 24 38 Total lease cost $ 1,215 $ 1,366 As of June 30, 2021, the aggregate future minimum lease payments under non-cancellable leases presented in accordance with ASC 842 are as follows (in thousands): Operating Finance Total Remainder of Fiscal 2022 $ 3,538 $ 612 $ 4,150 2023 4,864 817 5,681 2024 4,890 582 5,472 2025 4,075 58 4,133 2026 3,091 — 3,091 Thereafter 4,606 — 4,606 Total lease payments 25,064 2,069 $ 27,133 Less: Interest 1,843 76 Present value of lease liabilities $ 23,221 $ 1,993 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 June 30, 2021 and June 30, 2020, the weighted-average remaining lease term (in years) and discount rate were as follows: June 30, 2021 June 30, 2020 Weighted-average remaining lease term Operating leases 5.8 years 6.7 years Finance leases 2.6 years 3.0 years Weighted-average discount rate Operating leases 2.8 % 3.6 % Finance leases 3.0 % 5.2 %

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	3 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation 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 June 30, 2021, March 31, 2021 and June 30, 2020, and its results of operations and stockholders' equity for the three months ended June 30, 2021 and June 30, 2020 and its cash flows for the three months ended June 30, 2021 and June 30, 2020. All intercompany balances and transactions have been eliminated in consolidation.
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 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. It is impracticable for the Company to provide revenue by product line.
Business combinations	Business combinations The purchase price of a business acquisition is allocated to the assets acquired and liabilities assumed based upon their estimated fair values at the business combination date. The excess of purchase price over the fair value of assets acquired and liabilities assumed is recorded as goodwill. Determining fair value of identifiable assets, particularly intangibles, and liabilities acquired also requires the Company to make estimates, which are based on all available information and in some cases assumptions with respect to the timing and amount of future revenues and expenses associated with an asset. Unanticipated events or circumstances may occur that could affect the accuracy of the Company's fair value estimates, and under different assumptions, the resulting valuations could be materially different. Costs that are incurred to complete the business
Revenue recognition	Revenue recognition The Company distributes products both through national and international retailers, as well as direct-to-consumers through its e-commerce channel. 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.
Recent accounting pronouncements	Recent accounting pronouncements No new accounting pronouncement have been recently issued or newly effective which would have or be expected to have a material impact on the Company’s condensed consolidated financial statements.

Summary of significant accoun_3

Summary of significant accounting policies (Tables)	3 Months Ended
	Jun. 30, 2021
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 June 30, Net sales by geographic region: 2021 2020 United States $ 86,632 $ 57,897 International 10,415 6,630 Total net sales $ 97,047 $ 64,527

Goodwill and intangible assets

Goodwill and intangible assets (Tables)	3 Months Ended
	Jun. 30, 2021
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 June 30, 2021 is as follows (in thousands): Estimated useful life Gross carrying amount Accumulated amortization Net carrying amount Customer relationships – retailers 10 years $ 77,600 $ (52,200) $ 25,400 Customer relationships – e-commerce 3 years 3,940 (3,918) 22 Trademarks 10 years 3,500 (466) 3,034 Total finite-lived intangibles 85,040 (56,584) 28,456 Trademarks Indefinite 63,800 — 63,800 Goodwill 171,620 — 171,620 Total goodwill and other intangibles $ 320,460 $ (56,584) $ 263,876 Information regarding the Company’s goodwill and intangible assets as of March 31, 2021 is as follows (in thousands): Estimated useful life Gross carrying amount Accumulated amortization Net carrying amount Customer relationships – retailers 10 years $ 77,600 $ (50,260) $ 27,340 Customer relationships – e-commerce 3 years 3,940 (3,915) 25 Trademarks 10 years 3,500 (379) 3,121 Total finite-lived intangibles 85,040 (54,554) 30,486 Trademarks Indefinite 63,800 — 63,800 Goodwill 171,620 — 171,620 Total goodwill and other intangibles $ 320,460 $ (54,554) $ 265,906 Information regarding the Company’s goodwill and intangible assets as of June 30, 2020 is as follows (in thousands): Estimated useful life Gross carrying amount Accumulated amortization Net carrying amount Customer relationships – retailers 10 years $ 77,600 $ (44,440) $ 33,160 Customer relationships – e-commerce 3 years 3,940 (3,904) 36 Trademarks 10 years 3,500 (117) 3,383 Total finite-lived intangibles 85,040 (48,461) 36,579 Trademarks Indefinite 63,800 — 63,800 Goodwill 171,321 — 171,321 Total goodwill and other intangibles $ 320,161 $ (48,461) $ 271,700
Future Amortization Expense for Intangible Assets	The estimated future amortization expense related to finite-lived intangible assets, assuming no impairment as of June 30, 2021 is as follows (in thousands): Remainder of Fiscal 2022 $ 6,093 2023 8,122 2024 6,963 2025 1,230 2026 1,230 Thereafter 4,818 Total $ 28,456

Accrued expenses and other cu_2

Accrued expenses and other current liabilities (Tables)	3 Months Ended
	Jun. 30, 2021
Payables and Accruals [Abstract]
Summary of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities as of June 30, 2021, March 31, 2021 and June 30, 2020 consisted of the following (in thousands): June 30, 2021 March 31, 2021 June 30, 2020 Accrued expenses $ 22,835 $ 21,300 $ 14,138 Current portion of operating lease liabilities 4,168 4,292 3,200 Accrued compensation 3,297 10,805 3,404 Other current liabilities 3,317 4,954 1,818 Accrued expenses and other current liabilities $ 33,617 $ 41,351 $ 22,560

Debt (Tables)

Debt (Tables)	3 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of Outstanding Debt	The Company’s outstanding debt as of June 30, 2021, March 31, 2021 and June 30, 2020 consisted of the following (in thousands): June 30, 2021 March 31, 2021 June 30, 2020 Revolving credit facility (1) $ 26,480 $ — $ — Term loan (1) 100,000 124,589 133,505 Finance lease obligations 1,993 2,200 2,812 Total debt (2) 128,473 126,789 136,317 Less: debt issuance costs (972) (253) (429) Total debt, net of issuance costs 127,501 126,536 135,888 Less: current portion (32,247) (16,281) (13,187) Long-term portion of debt $ 95,254 $ 110,255 $ 122,701 (1) See Note 10, “Debt,” to the consolidated financial statements included in the Annual Report for details regarding the Senior Secured Credit Agreement, as amended (the "Amended Credit Agreement”). As of June 30, 2021, the Company was in compliance with all applicable financial covenants under the Amended Credit Agreement. (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)	3 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Summary of Stock Option Activity and Related Information	The following table summarizes the activity for options that vest solely based upon the satisfaction of a service condition for the three months ended June 30, 2021: Shares subject to options Weighted-average exercise price Weighted-average remaining Aggregate intrinsic Balance as of March 31, 2021 1,640,981 $ 14.86 Exercised (54,220) 7.94 Balance as of June 30, 2021 1,586,761 $ 15.09 5.8 $ 19,116 Exercisable, June 30, 2021 1,281,223 $ 15.26 5.3 $ 15,226 The following table summarizes the activity for stock options that vest based upon the satisfaction of performance- or market-based vesting conditions for the three months ended June 30, 2021: Shares subject to options Weighted-average exercise price Weighted-average remaining Aggregate intrinsic Balance as of March 31, 2021 1,108,592 $ 8.72 Exercised (35,625) 2.25 Balance as of June 30, 2021 1,072,967 $ 8.94 3.8 $ 19,531 Exercisable, June 30, 2021 772,967 $ 1.99 3.0 $ 19,441
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 three months ended June 30, 2021: RSUs and shares of restricted stock outstanding Weighted-average grant date fair value Balance as of March 31, 2021 2,289,615 $ 14.67 Granted 759,580 27.56 Vested (268,730) 16.35 Canceled or forfeited (87,424) 14.88 Balance as of June 30, 2021 2,693,041 $ 18.13

Restructuring and other relat_2

Restructuring and other related costs (Tables)	3 Months Ended
	Jun. 30, 2021
Restructuring and Related Activities [Abstract]
Restructuring Expense (Income)	The following table presents the restructuring expense (income) incurred during the three months ended June 30, 2021 (in thousands) in connection with the 2021 Restructuring Plan: June 30, 2021 Gain on sale of property, plant and equipment (152) Other costs, including other asset write-offs $ 138 Total $ (14)

Net income per share (Tables)

Net income per share (Tables)	3 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Reconciliation of Numerator and Denominator in Basic and Diluted Net Income 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 June 30, 2021 2020 Numerator: Net income $ 8,276 $ 1,512 Denominator: Weighted-average common shares outstanding – basic 50,544,573 48,924,454 Dilutive common equivalent shares from equity awards 2,863,870 2,015,484 Weighted-average common shares outstanding – diluted 53,408,443 50,939,938 Net income per share: Basic $ 0.16 $ 0.03 Diluted $ 0.15 $ 0.03 Weighted-average anti-dilutive shares from outstanding equity awards excluded from diluted earnings per share — 2,567,951

Leases (Tables)

Leases (Tables)	3 Months Ended
	Jun. 30, 2021
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 as of June 30, 2021, March 31, 2021 and June 30, 2020 were as follows (in thousands): Classification June 30, 2021 March 31, 2021 June 30, 2020 Assets Operating lease assets Other assets $ 21,490 $ 22,691 $ 13,695 Finance lease assets (a) Other assets 979 1,100 1,846 Total leased assets $ 22,469 $ 23,791 $ 15,541 Liabilities Current Operating Accrued expenses and other current liabilities $ 4,168 $ 4,292 $ 3,200 Finance Current portion of long-term debt and finance lease obligations 768 812 812 Noncurrent Operating Long-term operating lease obligations 19,053 20,084 11,400 Finance Long-term debt and finance lease obligations 1,225 1,388 2,000 Total lease liabilities $ 25,214 $ 26,576 $ 17,412 _____________________ (a) Finance leases are recorded net of accumulated amortization of $2.7 million, $3.2 million and $3.2 million as of June 30, 2021, March 31, 2021 and June 30, 2020, respectively. As of June 30, 2021 and June 30, 2020, the weighted-average remaining lease term (in years) and discount rate were as follows: June 30, 2021 June 30, 2020 Weighted-average remaining lease term Operating leases 5.8 years 6.7 years Finance leases 2.6 years 3.0 years Weighted-average discount rate Operating leases 2.8 % 3.6 % Finance leases 3.0 % 5.2 %
Components of Lease Expense	For the three months ended June 30, 2021 and June 30, 2020, the components of operating and finance lease costs were as follows (in thousands): Three months ended June 30, Classification 2021 2020 Operating lease cost Selling, general and administrative (“SG&A”) expenses $ 1,070 $ 1,080 Finance lease cost Amortization of leased assets SG&A expenses 121 248 Interest on lease liabilities Interest expense, net 24 38 Total lease cost $ 1,215 $ 1,366
Maturities of Operating Lease Liabilities	As of June 30, 2021, the aggregate future minimum lease payments under non-cancellable leases presented in accordance with ASC 842 are as follows (in thousands): Operating Finance Total Remainder of Fiscal 2022 $ 3,538 $ 612 $ 4,150 2023 4,864 817 5,681 2024 4,890 582 5,472 2025 4,075 58 4,133 2026 3,091 — 3,091 Thereafter 4,606 — 4,606 Total lease payments 25,064 2,069 $ 27,133 Less: Interest 1,843 76 Present value of lease liabilities $ 23,221 $ 1,993
Maturities of Finance Lease Liabilities	As of June 30, 2021, the aggregate future minimum lease payments under non-cancellable leases presented in accordance with ASC 842 are as follows (in thousands): Operating Finance Total Remainder of Fiscal 2022 $ 3,538 $ 612 $ 4,150 2023 4,864 817 5,681 2024 4,890 582 5,472 2025 4,075 58 4,133 2026 3,091 — 3,091 Thereafter 4,606 — 4,606 Total lease payments 25,064 2,069 $ 27,133 Less: Interest 1,843 76 Present value of lease liabilities $ 23,221 $ 1,993

Summary of significant accoun_4

Summary of significant accounting policies - Additional Information (Details)	3 Months Ended
	Jun. 30, 2021segment
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
	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Total net sales	$ 97,047	$ 64,527
United States
Disaggregation of Revenue [Line Items]
Total net sales	86,632	57,897
International
Disaggregation of Revenue [Line Items]
Total net sales	$ 10,415	$ 6,630

Investment in equity securiti_2

Investment in equity securities - Additional Information (Details) - USD ($)	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Apr. 14, 2017
Debt and Equity Securities, FV-NI [Line Items]
Impairment charges on investment	$ 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	3 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021
Schedule Of Intangible Assets And Goodwill [Line Items]
Total finite-lived intangibles, Gross carrying amount	$ 85,040	$ 85,040	$ 85,040
Total finite-lived intangibles, Accumulated amortization	(56,584)	(48,461)	(54,554)
Total	28,456	36,579	30,486
Goodwill, Gross carrying amount	171,620	171,321	171,620
Goodwill, Accumulated amortization	0	0	0
Goodwill, Net carrying amount	171,620	171,321	171,620
Total goodwill and other intangibles, Gross carrying amount	320,460	320,161	320,460
Total goodwill and other intangibles, Accumulated amortization	(56,584)	(48,461)	(54,554)
Total goodwill and other intangibles, Net carrying amount	263,876	271,700	265,906
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	$ 77,600	$ 77,600	$ 77,600
Total finite-lived intangibles, Accumulated amortization	(52,200)	(44,440)	(50,260)
Total	$ 25,400	$ 33,160	$ 27,340
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	$ 3,940	$ 3,940	$ 3,940
Total finite-lived intangibles, Accumulated amortization	(3,918)	(3,904)	(3,915)
Total	$ 22	$ 36	$ 25
Trademarks
Schedule Of Intangible Assets And Goodwill [Line Items]
Estimated useful life	10 years	10 years	10 years
Total finite-lived intangibles, Gross carrying amount	$ 3,500	$ 3,500	$ 3,500
Total finite-lived intangibles, Accumulated amortization	(466)	(117)	(379)
Total	$ 3,034	$ 3,383	$ 3,121

Goodwill and intangible asset_3

Goodwill and intangible assets - Additional Information (Details) - USD ($)	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of Intangible Assets	$ 2,000,000	$ 2,000,000
Goodwill and intangible asset impairment	$ 0	$ 0

Goodwill and intangible asset_4

Goodwill and intangible assets - Future Amortization Expense for Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of Fiscal 2022	$ 6,093
2023	8,122
2024	6,963
2025	1,230
2026	1,230
Thereafter	4,818
Total	$ 28,456	$ 30,486	$ 36,579

Accrued expenses and other cu_3

Accrued expenses and other current liabilities - Summary of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020
Payables and Accruals [Abstract]
Accrued expenses	$ 22,835	$ 21,300	$ 14,138
Current portion of operating lease liabilities	4,168	4,292	3,200
Accrued compensation	3,297	10,805	3,404
Other current liabilities	3,317	4,954	1,818
Accrued expenses and other current liabilities	$ 33,617	$ 41,351	$ 22,560

Debt - Schedule of Outstanding

Debt - Schedule of Outstanding Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020
Debt Instrument [Line Items]
Finance lease obligations	$ 1,993	$ 2,200	$ 2,812
Total debt	128,473	126,789	136,317
Less: debt issuance costs	(972)	(253)	(429)
Total debt, net of issuance costs	127,501	126,536	135,888
Less: current portion	(32,247)	(16,281)	(13,187)
Long-term portion of debt	95,254	110,255	122,701
Revolving Credit Facility
Debt Instrument [Line Items]
Debt	26,480	0	0
Term Loan
Debt Instrument [Line Items]
Debt	$ 100,000	$ 124,589	$ 133,505

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	Apr. 30, 2021	Jun. 30, 2021	Jun. 30, 2020	Apr. 29, 2021
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ 460,000	$ 0
Amended Credit Agreement
Debt Instrument [Line Items]
Debt instrument, term	5 years
Debt issuance costs		1,100,000
Prior Credit Agreement
Debt Instrument [Line Items]
Loss on extinguishment of debt	$ 500,000
Revolving Credit Facility | Amended Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 100,000,000
Remaining borrowing capacity		$ 73,300,000
Revolving Credit Facility | Amended Credit Agreement | Minimum
Debt Instrument [Line Items]
Unused fee percentage	0.10%
Revolving Credit Facility | Amended Credit Agreement | Maximum
Debt Instrument [Line Items]
Unused fee percentage	0.30%
Revolving Credit Facility | Amended Credit Agreement | Minimum Floor
Debt Instrument [Line Items]
Basis spread on variable rate	0.00%
Revolving Credit Facility | Amended Credit Agreement | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.25%
Revolving Credit Facility | Amended Credit Agreement | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.125%
Revolving Credit Facility | Amended Credit Agreement | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.25%
Revolving Credit Facility | Amended Credit Agreement | Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.125%
Revolving Credit Facility | Prior Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 50,000,000
Letter of Credit | Amended Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 7,000,000
Swing Line of Credit | Amended Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	5,000,000
Term Loan | Amended Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 100,000,000
Interest rate at period end		1.60%
Term Loan | Amended Credit Agreement | Minimum Floor
Debt Instrument [Line Items]
Basis spread on variable rate	0.00%
Term Loan | Amended Credit Agreement | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.25%
Term Loan | Amended Credit Agreement | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.125%
Term Loan | Amended Credit Agreement | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.25%
Term Loan | Amended Credit Agreement | Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.125%
Term Loan | Prior Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 165,000,000

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 $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2021USD ($)$ / sharesshares
Shares subject to options outstanding
Beginning balance (in shares) | shares	1,640,981
Exercised (in shares) | shares	(54,220)
Ending balance (in shares) | shares	1,586,761
Options outstanding, Exercisable (in shares) | shares	1,281,223
Weighted-average exercise price
Beginning balance (in USD per share) | $ / shares	$ 14.86
Exercised (in USD per share) | $ / shares	7.94
Ending balance (in USD per share) | $ / shares	15.09
Weighted-average exercise price, Exercisable (in USD per share) | $ / shares	$ 15.26
Weighted-average remaining contractual life (in years), Outstanding	5 years 9 months 18 days
Weighted-average remaining contractual life (in years), Exercisable	5 years 3 months 18 days
Aggregate intrinsic values, Outstanding | $	$ 19,116
Aggregate intrinsic values, Exercisable | $	$ 15,226

Stock-based compensation - Narr

Stock-based compensation - Narrative (Details) - USD ($)	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing stock price (in USD per share)	$ 27.14
Service-based Vesting Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation cost	$ 300,000	$ 600,000
Unrecognized stock-based compensation cost	$ 1,300,000
Unrecognized stock-based compensation cost, expected weighted-average period of recognition	2 years
Performance-based and Market-based Vesting Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation cost	$ 0	0
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested RSAs outstanding (in shares)	1,067,071
Restricted Stock Awards and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation cost	$ 4,000,000	$ 4,100,000
Unrecognized stock-based compensation cost, expected weighted-average period of recognition	2 years 4 months 24 days
Unvested RSAs outstanding (in shares)	2,693,041		2,289,615
Unrecognized stock-based compensation cost	$ 41,300,000

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 $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2021USD ($)$ / sharesshares
Shares subject to options outstanding
Beginning balance (in shares) | shares	1,108,592
Exercised (in shares) | shares	(35,625)
Ending balance (in shares) | shares	1,072,967
Options outstanding, Exercisable (in shares) | shares	772,967
Weighted-average exercise price
Beginning balance (in USD per share) | $ / shares	$ 8.72
Exercised (in USD per share) | $ / shares	2.25
Ending balance (in USD per share) | $ / shares	8.94
Weighted-average exercise price, Exercisable (in USD per share) | $ / shares	$ 1.99
Weighted-average remaining contractual life (in years), Outstanding	3 years 9 months 18 days
Weighted-average remaining contractual life (in years), Exercisable	3 years
Aggregate intrinsic values, Outstanding | $	$ 19,531
Aggregate intrinsic values, Exercisable | $	$ 19,441

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	3 Months Ended
	Jun. 30, 2021$ / sharesshares
RSUs and shares of restricted stock outstanding
Beginning balance (in shares) | shares	2,289,615
Granted (in shares) | shares	759,580
Vested (in shares) | shares	(268,730)
Canceled or forfeited (in shares) | shares	(87,424)
Ending balance (in shares) | shares	2,693,041
Weighted-average grant date fair value
Beginning balance (in USD per share) | $ / shares	$ 14.67
Granted (in USD per share) | $ / shares	27.56
Vested (in USD per share) | $ / shares	16.35
Canceled or forfeited (in USD per share) | $ / shares	14.88
Ending balance (in USD per share) | $ / shares	$ 18.13

Restructuring and other relat_3

Restructuring and other related costs - Restructuring expense (income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Restructuring and Related Activities [Abstract]
Gain on sale of property, plant and equipment	$ (152)
Other costs, including other asset write-offs	138
Total	$ (14)	$ 0

Repurchase of common stock - Na

Repurchase of common stock - Narrative (Details) - USD ($)	Jun. 30, 2021	May 08, 2019
Equity [Abstract]
Amount authorized under share repurchase program		$ 25,000,000
Remaining authorized repurchase amount	$ 17,100,000

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
	Jun. 30, 2021	Jun. 30, 2020
Numerator:
Net income	$ 8,276	$ 1,512
Denominator:
Weighted average common shares outstanding - basic (in shares)	50,544,573	48,924,454
Dilutive common equivalent shares from equity awards (in shares)	2,863,870	2,015,484
Weighted average common shares outstanding - diluted (in shares)	53,408,443	50,939,938
Net income per share:
Basic (in USD per share)	$ 0.16	$ 0.03
Diluted (in USD per share)	$ 0.15	$ 0.03
Anti-dilutive securities excluded from diluted EPS:
Weighted average anti-dilutive shares from outstanding equity awards excluded from diluted earnings per share (in shares)	0	2,567,951

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Lessee operating lease, option to extend	five years
Operating cash flows from operating leases	$ 1.3	$ 0.9

Leases - Balance Sheet Line Ite

Leases - Balance Sheet Line Items (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020
Assets
Operating lease assets	$ 21,490	$ 22,691	$ 13,695
Finance lease assets	979	1,100	1,846
Total leased assets	22,469	23,791	15,541
Current
Operating	4,168	4,292	3,200
Finance	768	812	812
Noncurrent
Operating	19,053	20,084	11,400
Finance	1,225	1,388	2,000
Total lease liabilities	$ 25,214	$ 26,576	$ 17,412
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets	Other assets	Other assets
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets	Other assets	Other assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Current portion of long-term debt and finance lease obligations	Current portion of long-term debt and finance lease obligations	Current portion of long-term debt and finance lease obligations
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Long-term debt and finance lease obligations	Long-term debt and finance lease obligations	Long-term debt and finance lease obligations
Finance lease accumulated amortization	$ 2,700	$ 3,200	$ 3,200

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Operating lease cost	$ 1,070	$ 1,080
Finance lease cost
Amortization of leased assets	121	248
Interest on lease liabilities	24	38
Total lease cost	$ 1,215	$ 1,366

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020
Operating leases
Remainder of Fiscal 2022	$ 3,538
2023	4,864
2024	4,890
2025	4,075
2026	3,091
Thereafter	4,606
Total lease payments	25,064
Less: Interest	1,843
Present value of lease liabilities	23,221
Finance leases
Remainder of Fiscal 2022	612
2023	817
2024	582
2025	58
2026	0
Thereafter	0
Total lease payments	2,069
Less: Interest	76
Present value of lease liabilities	1,993	$ 2,200	$ 2,812
Total
Remainder of Fiscal 2022	4,150
2023	5,681
2024	5,472
2025	4,133
2026	3,091
Thereafter	4,606
Total lease payments	$ 27,133

Leases - Weighted Average Assum

Leases - Weighted Average Assumptions (Details)	Jun. 30, 2021	Jun. 30, 2020
Weighted-average remaining lease term
Operating leases	5 years 9 months 18 days	6 years 8 months 12 days
Finance leases	2 years 7 months 6 days	3 years
Weighted-average discount rate
Operating leases	2.80%	3.60%
Finance leases	3.00%	5.20%