Motorcar Parts of America (MPAA) 10-Q 10 Feb 25 2025 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Dec. 31, 2024	Feb. 03, 2025
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Amendment Flag	false
Document Period End Date	Dec. 31, 2024
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q3
Entity Information [Line Items]
Entity Registrant Name	MOTORCAR PARTS OF AMERICA, INC.
Entity Central Index Key	0000918251
Entity File Number	001-33861
Entity Tax Identification Number	11-2153962
Entity Incorporation, State or Country Code	NY
Current Fiscal Year End Date	--03-31
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Contact Personnel [Line Items]
Entity Address, Address Line One	2929 California Street
Entity Address, City or Town	Torrance
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90503
Entity Phone Fax Numbers [Line Items]
City Area Code	310
Local Phone Number	212-7910
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	MPAA
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		19,583,711

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Dec. 31, 2024	Mar. 31, 2024
Current assets:
Cash and cash equivalents	$ 10,810,000	$ 13,974,000
Short-term investments	1,909,000	1,837,000
Accounts receivable — net	82,040,000	96,296,000
Inventory — net	367,028,000	397,328,000
Contract assets	22,213,000	27,139,000
Prepaid expenses and other current assets	20,304,000	23,885,000
Total current assets	504,304,000	560,459,000
Plant and equipment — net	30,954,000	38,338,000
Operating lease assets	67,552,000	83,973,000
Long-term deferred income taxes	5,664,000	2,976,000
Long-term contract assets	334,424,000	320,282,000
Goodwill and intangible assets — net	3,846,000	4,274,000
Other assets	2,764,000	1,700,000
TOTAL ASSETS	949,508,000	1,012,002,000
Current liabilities:
Accounts payable and accrued liabilities	158,113,000	185,182,000
Customer finished goods returns accrual	40,732,000	38,312,000
Contract liabilities	36,239,000	37,591,000
Revolving loan	94,802,000	128,000,000
Other current liabilities	9,417,000	7,021,000
Operating lease liabilities	9,308,000	8,319,000
Total current liabilities	348,611,000	404,425,000
Convertible notes, related party	$ 32,377,000	$ 30,776,000
Notes Payable, Noncurrent, Related Party, Type [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Long-term contract liabilities	$ 231,962,000	$ 212,068,000
Long-term deferred income taxes	524,000	511,000
Long-term operating lease liabilities	66,833,000	72,240,000
Other liabilities	6,530,000	6,872,000
Total liabilities	686,837,000	726,892,000
Commitments and contingencies
Shareholders' equity:
Preferred stock	0	0
Common stock; par value $.01 per share, 50,000,000 shares authorized; 19,583,711 and 19,662,380 shares issued and outstanding at December 31, 2024 and March 31, 2024, respectively	196,000	197,000
Additional paid-in capital	236,988,000	236,255,000
Retained earnings	20,755,000	39,503,000
Accumulated other comprehensive income	4,732,000	9,155,000
Total shareholders' equity	262,671,000	285,110,000
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	949,508,000	1,012,002,000
Series A Junior Participating Preferred Stock [Member]
Shareholders' equity:
Preferred stock	$ 0	$ 0

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2024	Mar. 31, 2024
Preferred stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	5,000,000	5,000,000
Preferred stock, issued (in shares)	0	0
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	50,000,000	50,000,000
Common stock, issued (in shares)	19,583,711	19,662,380
Common stock, outstanding (in shares)	19,583,711	19,662,380
Series A Junior Participating Preferred Stock [Member]
Preferred stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	20,000	20,000
Preferred stock, issued (in shares)	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Condensed Consolidated Statements of Operations [Abstract]
Net sales	$ 186,176,000	$ 171,862,000	$ 564,249,000	$ 528,206,000
Cost of goods sold	141,294,000	141,819,000	448,916,000	430,448,000
Gross profit	44,882,000	30,043,000	115,333,000	97,758,000
Operating expenses:
General and administrative	16,212,000	15,198,000	47,934,000	42,125,000
Sales and marketing	5,621,000	5,931,000	16,904,000	17,038,000
Research and development	3,008,000	2,539,000	7,884,000	7,352,000
Foreign exchange impact of lease liabilities and forward contracts	2,460,000	(3,149,000)	18,966,000	(2,659,000)
Total operating expenses	27,301,000	20,519,000	91,688,000	63,856,000
Operating income	17,581,000	9,524,000	23,645,000	33,902,000
Other expenses:
Interest expense, net	14,435,000	18,297,000	43,004,000	45,400,000
Change in fair value of compound net derivative liability	(260,000)	1,160,000	(2,460,000)	1,690,000
Loss on extinguishment of debt	0	0	0	168,000
Total other expenses	14,175,000	19,457,000	40,544,000	47,258,000
Income (loss) before income tax expense	3,406,000	(9,933,000)	(16,899,000)	(13,356,000)
Income tax expense	1,115,000	37,281,000	1,849,000	37,226,000
Net income (loss)	$ 2,291,000	$ (47,214,000)	$ (18,748,000)	$ (50,582,000)
Basic net income (loss) per share (in Dollars per share)	$ 0.12	$ (2.4)	$ (0.95)	$ (2.58)
Diluted net income (loss) per share (in Dollars per share)	$ 0.11	$ (2.4)	$ (0.95)	$ (2.58)
Weighted average number of shares outstanding:
Basic (in Shares)	19,783,170	19,634,306	19,739,481	19,580,960
Diluted (in Shares)	20,416,958	19,634,306	19,739,481	19,580,960

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Condensed Consolidated Statements of Comprehensive Loss [Abstract]
Net income (loss)	$ 2,291,000	$ (47,214,000)	$ (18,748,000)	$ (50,582,000)
Other comprehensive (loss) income, net of tax:
Foreign currency translation (loss) gain	(2,480,000)	2,405,000	(4,423,000)	7,870,000
Total other comprehensive (loss) income, net of tax	(2,480,000)	2,405,000	(4,423,000)	7,870,000
Comprehensive loss	$ (189,000)	$ (44,809,000)	$ (23,171,000)	$ (42,712,000)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders’ Equity - USD ($)	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Beginning balance at Mar. 31, 2023	$ 195,000	$ 231,836,000	$ 88,747,000	$ (303,000)	$ 320,475,000
Beginning balance (in Shares) at Mar. 31, 2023	19,494,615
Compensation recognized under employee stock plans	$ 0	1,310,000	0	0	1,310,000
Issuance of common stock upon vesting of RSUs, net of shares withheld for employee taxes	$ 1,000	(280,000)	0	0	(279,000)
Issuance of common stock upon vesting of RSUs, net of shares withheld for employee taxes (in Shares)	104,530
Foreign currency translation	$ 0	0	0	3,343,000	3,343,000
Net income (loss)	0	0	(1,410,000)	0	(1,410,000)
Ending balance at Jun. 30, 2023	$ 196,000	232,866,000	87,337,000	3,040,000	323,439,000
Ending balance (in Shares) at Jun. 30, 2023	19,599,145
Beginning balance at Mar. 31, 2023	$ 195,000	231,836,000	88,747,000	(303,000)	320,475,000
Beginning balance (in Shares) at Mar. 31, 2023	19,494,615
Foreign currency translation					7,870,000
Net income (loss)					(50,582,000)
Ending balance at Dec. 31, 2023	$ 197,000	235,823,000	38,165,000	7,567,000	281,752,000
Ending balance (in Shares) at Dec. 31, 2023	19,662,380
Beginning balance at Jun. 30, 2023	$ 196,000	232,866,000	87,337,000	3,040,000	323,439,000
Beginning balance (in Shares) at Jun. 30, 2023	19,599,145
Compensation recognized under employee stock plans	$ 0	1,533,000	0	0	1,533,000
Issuance of common stock upon vesting of RSUs, net of shares withheld for employee taxes	$ 0	0	0	0	0
Issuance of common stock upon vesting of RSUs, net of shares withheld for employee taxes (in Shares)	50
Foreign currency translation	$ 0	0	0	2,122,000	2,122,000
Net income (loss)	0	0	(1,958,000)	0	(1,958,000)
Ending balance at Sep. 30, 2023	$ 196,000	234,399,000	85,379,000	5,162,000	325,136,000
Ending balance (in Shares) at Sep. 30, 2023	19,599,195
Compensation recognized under employee stock plans	$ 0	1,425,000	0	0	1,425,000
Issuance of common stock upon vesting of RSUs, net of shares withheld for employee taxes	$ 1,000	(1,000)	0	0	0
Issuance of common stock upon vesting of RSUs, net of shares withheld for employee taxes (in Shares)	63,185
Foreign currency translation	$ 0	0	0	2,405,000	2,405,000
Net income (loss)	0	0	(47,214,000)	0	(47,214,000)
Ending balance at Dec. 31, 2023	$ 197,000	235,823,000	38,165,000	7,567,000	281,752,000
Ending balance (in Shares) at Dec. 31, 2023	19,662,380
Beginning balance at Mar. 31, 2024	$ 197,000	236,255,000	39,503,000	9,155,000	$ 285,110,000
Beginning balance (in Shares) at Mar. 31, 2024	19,662,380				19,662,380
Compensation recognized under employee stock plans	$ 0	1,000,000	0	0	$ 1,000,000
Issuance of common stock upon vesting of RSUs, net of shares withheld for employee taxes	$ 1,000	(182,000)	0	0	(181,000)
Issuance of common stock upon vesting of RSUs, net of shares withheld for employee taxes (in Shares)	91,205
Foreign currency translation	$ 0	0	0	(675,000)	(675,000)
Net income (loss)	0	0	(18,085,000)	0	(18,085,000)
Ending balance at Jun. 30, 2024	$ 198,000	237,073,000	21,418,000	8,480,000	267,169,000
Ending balance (in Shares) at Jun. 30, 2024	19,753,585
Beginning balance at Mar. 31, 2024	$ 197,000	236,255,000	39,503,000	9,155,000	$ 285,110,000
Beginning balance (in Shares) at Mar. 31, 2024	19,662,380				19,662,380
Foreign currency translation					$ (4,423,000)
Net income (loss)					(18,748,000)
Ending balance at Dec. 31, 2024	$ 196,000	236,988,000	20,755,000	4,732,000	$ 262,671,000
Ending balance (in Shares) at Dec. 31, 2024	19,583,711				19,583,711
Beginning balance at Jun. 30, 2024	$ 198,000	237,073,000	21,418,000	8,480,000	$ 267,169,000
Beginning balance (in Shares) at Jun. 30, 2024	19,753,585
Compensation recognized under employee stock plans	$ 0	1,016,000	0	0	1,016,000
Issuance of common stock upon vesting of RSUs, net of shares withheld for employee taxes	$ 0	0	0	0	0
Issuance of common stock upon vesting of RSUs, net of shares withheld for employee taxes (in Shares)	22,788
Foreign currency translation	$ 0	0	0	(1,268,000)	(1,268,000)
Net income (loss)	0	0	(2,954,000)	0	(2,954,000)
Ending balance at Sep. 30, 2024	$ 198,000	238,089,000	18,464,000	7,212,000	263,963,000
Ending balance (in Shares) at Sep. 30, 2024	19,776,373
Compensation recognized under employee stock plans	$ 0	993,000	0	0	993,000
Repurchase and cancellation of common shares	$ (3,000)	(2,093,000)	0	0	(2,096,000)
Repurchase and cancellation of common shares (in Shares)	(268,130)
Issuance of common stock upon vesting of RSUs, net of shares withheld for employee taxes	$ 1,000	(1,000)	0	0	0
Issuance of common stock upon vesting of RSUs, net of shares withheld for employee taxes (in Shares)	75,468
Foreign currency translation	$ 0	0	0	(2,480,000)	(2,480,000)
Net income (loss)	0	0	2,291,000	0	2,291,000
Ending balance at Dec. 31, 2024	$ 196,000	$ 236,988,000	$ 20,755,000	$ 4,732,000	$ 262,671,000
Ending balance (in Shares) at Dec. 31, 2024	19,583,711				19,583,711

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net Income (Loss)	$ (18,748,000)	$ (50,582,000)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	7,862,000	8,844,000
Amortization of debt issuance costs	1,647,000	1,809,000
Amortization of interest on contract liabilities	578,000	719,000
Accrued interest on convertible notes, related party	2,640,000	2,400,000
Amortization of core premiums paid to customers	7,310,000	7,627,000
Amortization of finished goods premiums paid to customers	703,000	575,000
Noncash lease expense	7,265,000	7,614,000
Foreign exchange impact of lease liabilities and forward contracts	18,966,000	(2,659,000)
Change in fair value of compound net derivative liability	(2,460,000)	1,690,000
Gain on short-term investments	(126,000)	(237,000)
Net provision for inventory reserves	11,317,000	9,637,000
Net provision for customer payment discrepancies and credit losses	324,000	1,112,000
Deferred income taxes	(3,479,000)	29,721,000
Share-based compensation expense	3,009,000	4,268,000
(Gain) loss on disposal of plant and equipment	(6,000)	9,000
Changes in operating assets and liabilities:
Accounts receivable	12,475,000	26,272,000
Inventory	17,546,000	(46,558,000)
Prepaid expenses and other current assets	(1,000,000)	5,316,000
Other assets	(1,392,000)	(392,000)
Accounts payable and accrued liabilities	(22,854,000)	38,734,000
Customer finished goods returns accrual	2,637,000	(190,000)
Contract assets	(18,031,000)	(7,639,000)
Contract liabilities	18,300,000	15,561,000
Operating lease liabilities	(6,754,000)	(6,368,000)
Other liabilities	(1,361,000)	1,162,000
Net cash provided by operating activities	36,368,000	48,445,000
Cash flows from investing activities:
Purchase of plant and equipment	(1,716,000)	(462,000)
Proceeds for the sale of plant and equipment	49,000	0
Redemption of short-term investments	53,000	42,000
Net cash used in investing activities	(1,614,000)	(420,000)
Cash flows from financing activities:
Borrowings under revolving loan	375,461,000	64,005,000
Repayments of revolving loan	(408,659,000)	(94,205,000)
Repayments of term loan	0	(13,125,000)
Payments for debt issuance costs	(15,000)	(2,617,000)
Payments on finance lease obligations	(1,306,000)	(1,425,000)
Cash used to net share settle equity awards	(181,000)	(279,000)
Repurchase of common stock	(2,096,000)	0
Net cash used in financing activities	(36,796,000)	(47,646,000)
Effect of exchange rate changes on cash and cash equivalents	(1,122,000)	180,000
Net (decrease) increase in cash and cash equivalents	(3,164,000)	559,000
Cash and cash equivalents — Beginning of period	13,974,000	11,596,000
Cash and cash equivalents — End of period	10,810,000	12,155,000
Supplemental disclosures of cash flow information:
Cash paid for interest, net	37,845,000	40,826,000
Cash paid for income taxes, net of refunds	4,338,000	8,143,000
Cash paid for operating leases	10,183,000	10,025,000
Cash paid for finance leases	1,446,000	1,595,000
Plant and equipment acquired under finance leases	684,000	33,000
Assets acquired under operating leases	2,512,000	879,000
Non-cash capital expenditures	144,000	71,000
Debt issuance costs included in accounts payable and accrued liabilities	$ 0	$ 1,340,000

Company Background and Organiza

Company Background and Organization	9 Months Ended
	Dec. 31, 2024
Company Background and Organization [Abstract]
Company Background and Organization	1. Company Background and Organization Motorcar Parts of America, Inc. and its subsidiaries (the “Company”, or “MPA”) is a leading supplier of automotive aftermarket non-discretionary replacement parts, and test solutions and diagnostic equipment. These replacement parts are primarily sold to automotive retail chain stores and warehouse distributors throughout North America and to major automobile manufacturers for both their aftermarket programs and warranty replacement programs (“OES”). The Company’s test solutions and diagnostic equipment primarily serves the global automotive component and powertrain testing market. The Company’s products include (i) light duty and heavy duty rotating electrical products such as alternators and starters, (ii) wheel hub assemblies and bearings, (iii) brake-related products, which include brake calipers, brake boosters, brake rotors, brake pads, brake shoes, and brake master cylinders, and (iv) other products, which include (a) turbochargers and (b) test solutions and diagnostic equipment including: (i) applications for combustion engine vehicles, including bench top testers for alternators and starters, (ii) equipment for the pre- and post-production of electric vehicles, and (iii) software emulation of power system applications for the electrification of all forms of transportation (including automobiles, trucks, the emerging electrification of systems within the aerospace industry, and electric vehicle charging stations).

Basis of Presentation and New A

Basis of Presentation and New Accounting Pronouncements	9 Months Ended
	Dec. 31, 2024
Basis of Presentation and New Accounting Pronouncements [Abstract]
Basis of Presentation and New Accounting Pronouncements	2. Basis of Presentation and New Accounting Pronouncements Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended December 31, 2024 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2025. This report should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto for the fiscal year ended March 31, 2024, which are included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on June 11, 2024, and the 10-K/A for the fiscal year ended March 31, 2024 as filed with the SEC on June 28, 2024. The accompanying condensed consolidated financial statements have been prepared on a consistent basis with, and there have been no material changes to the accounting policies described in Note 2, Summary of Significant Accounting Policies, to the consolidated financial statements that are presented in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2024. Accounting Pronouncements Not Yet Adopted Disclosure Improvements In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative Reportable Segment Disclosures In November 2023, the FASB issued ASU 2023-07, Improvements to Reportable Segment Disclosures (Topic 280) Improvements to Income Tax Disclosures In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740) Disaggregation of Income Statement Expenses In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses (“DISE”) (Subtopic 220-40) Debt with Conversion and Other Options In November 2024, the FASB issued ASU 2024-04, Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments

Accounts Receivable - Net

Accounts Receivable - Net	9 Months Ended
	Dec. 31, 2024
Accounts Receivable - Net [Abstract]
Accounts Receivable - Net	3. Accounts Receivable — Net The Company has trade accounts receivable that result from the sale of goods and services. Accounts receivable — net includes offset accounts related to allowances for credit losses, customer payment discrepancies, and returned goods authorizations (“RGAs”) issued for in-transit unit returns. Accounts receivable — net is comprised of the following: December 31, 2024 March 31, 2024 Accounts receivable — trade $ 95,653,000 $ 118,500,000 Allowance for credit losses (77,000 ) (189,000 ) Customer payment discrepancies (1,706,000 ) (1,206,000 ) Customer returns RGA issued (11,830,000 ) (20,809,000 ) Total accounts receivable — net $ 82,040,000 $ 96,296,000

Inventory - Net

Inventory - Net	9 Months Ended
	Dec. 31, 2024
Inventory - Net [Abstract]
Inventory - Net	4. Inventory — Net Inventory — net is comprised of the following: December 31, 2024 March 31, 2024 Inventory — net Raw materials $ 157,397,000 $ 158,819,000 Work-in-process 9,750,000 7,943,000 Finished goods 201,049,000 227,650,000 368,196,000 394,412,000 Less allowance for excess and obsolete inventory (18,538,000 ) (17,372,000 ) Inventory 349,658,000 377,040,000 Inventory unreturned 17,370,000 20,288,000 Total inventory — net $ 367,028,000 $ 397,328,000

Contract Assets

Contract Assets	9 Months Ended
	Dec. 31, 2024
Contract Assets [Abstract]
Contract Assets	5. Contract Assets During the three months ended December 31, 2024 and 2023, the Company reduced the carrying value of Remanufactured Cores held at customers’ locations by $758,000 and $1,607,000, respectively. During the nine months ended December 31, 2024 and 2023, the Company reduced the carrying value of Remanufactured Cores held at customers’ locations by $2,316,000 and $4,380,000, respectively. Contract assets are comprised of the following: December 31, 2024 March 31, 2024 Short-term contract assets Cores expected to be returned by customers $ 10,567,000 $ 15,409,000 Core premiums paid to customers 9,454,000 9,567,000 Upfront payments to customers 1,450,000 1,407,000 Finished goods premiums paid to customers 742,000 756,000 Total short-term contract assets $ 22,213,000 $ 27,139,000 Remanufactured cores held at customers' locations $ 300,166,000 $ 279,427,000 Core premiums paid to customers 24,771,000 30,227,000 Long-term core inventory deposits 5,569,000 5,569,000 Finished goods premiums paid to customers 2,138,000 2,341,000 Upfront payments to customers 1,780,000 2,718,000 Total long-term contract assets $ 334,424,000 $ 320,282,000

Significant Customer and Other

Significant Customer and Other Information	9 Months Ended
	Dec. 31, 2024
Significant Customer and Other Information [Abstract]
Significant Customer and Other Information	6. Significant Customer and Other Information Significant Customer Concentrations The largest customers accounted for the following percentage of consolidated net sales: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 Net sales Customer A 41 % 34 % 38 % 35 % Customer C 23 % 26 % 27 % 27 % Customer B 22 % 23 % 20 % 21 % Revenues for these customers were derived from the Hard Parts segment and Test Solutions and Diagnostic Equipment segment. See Note 18 for a discussion of the Company’s segments. The largest customers accounted for the following percentage of accounts receivable – trade: December 31, 2024 March 31, 2024 Accounts receivable - trade Customer A 48 % 35 % Customer C 2 % 13 % Customer B 20 % 25 % Geographic and Product Information The Company’s products are sold predominantly in North America and accounted for the following percentages of consolidated net sales: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 Product line Rotating electrical products 68 % 65 % 67 % 66 % Brake-related products 21 % 21 % 22 % 21 % Wheel hub products 8 % 11 % 7 % 10 % Other products 3 % 3 % 4 % 3 % 100 % 100 % 100 % 100 % Significant Supplier Concentrations The Company had no suppliers that accounted for more than 10% of inventory purchases for the three and nine months ended December 31, 2024 and 2023.

Debt

Debt	9 Months Ended
	Dec. 31, 2024
Debt [Abstract]
Debt	7. Debt The Company has $268,620,000 in senior secured financing, (as amended from time to time, the “Credit Facility”) consisting of a $238,620,000 revolving loan facility (the “Revolving Facility”), subject to certain restrictions, and a $30,000,000 term loan facility (the “Term Loans”). The Term Loans were repaid during the year ended March 31, 2024. The Credit Facility matures on December 12, 2028. The lenders have a security interest in substantially all of the assets of the Company. In June 2024, the Company enrolled in a feature with its lenders, under which the Company sweeps its cash collections to pay down its revolving facility and borrows on-demand to fund payments. This feature is expected to reduce interest expense on borrowings under the Credit Facility. The Company had $94,802,000 and $128,000,000 outstanding under the Revolving Facility at December 31, 2024 and March 31, 2024, respectively. In addition, $7,047,000 was outstanding for letters of credit at December 31, 2024. At December 31, 2024, after certain contractual adjustments, $127,962,000 was available under the Revolving Facility. The Credit Facility requires the Company to maintain a minimum fixed charge coverage ratio if undrawn availability is less than 22.5% of the aggregate revolving commitments and a specified minimum undrawn availability. During the nine months ended December 31, 2024, undrawn availability was greater than the 22.5% threshold, therefore, the fixed charge coverage ratio financial covenant was not required to be tested. Convertible Notes On March 31, 2023, the Company entered into a note purchase agreement, as amended, (the “Note Purchase Agreement”) with Bison Capital Partners VI, L.P. and Bison Capital Partners VI-A, L.P. (collectively, the “Purchasers”) and Bison Capital Partners VI, L.P., as the purchaser representative (the “Purchaser Representative”) for the issuance and sale of $32,000,000 in aggregate principal amount of convertible notes due in 2029 (the “Convertible Notes”), which was used for general corporate purposes. The Convertible Notes bear interest at a rate of 10.0% per annum, compounded annually, and payable (i) in-kind or (ii) in cash, annually in arrears on April 1 of each year, commencing on April 1, 2024. In April 2024, non-cash accrued interest on the Convertible Notes of $3,209,000 was paid in-kind and is included in the principal amount of Convertible Notes at December 31, 2024. The Convertible Notes have an initial conversion price of $15.00 per share of common stock (“Conversion Option”). Unless and until the Company delivers a redemption notice, the Purchasers of the Convertible Notes may convert their Convertible Notes at any time at their option. Upon conversion, the Convertible Notes will be settled in shares of the Company’s common stock. Except in the case of the occurrence of a fundamental transaction, as defined in the form of convertible promissory note, the Company may not redeem the Convertible Notes prior to March 31, 2026. After March 31, 2026, the Company may redeem all or part of the Convertible Notes for a cash purchase (the “Company Redemption”) price. The effective interest rate was 18.3% as of December 31, 2024 and March 31, 2024, respectively. The Company’s Convertible Notes are comprised of the following: December 31, 2024 March 31, 2024 Principal amount of Convertible Notes $ 35,209,000 $ 32,000,000 Less: unamortized debt discount attributed to Compound Net Derivative Liability (6,829,000 ) (7,576,000 ) Less: unamortized debt discount attributed to debt issuance costs (953,000 ) (1,058,000 ) Carrying amount of the Convertible Notes 27,427,000 23,366,000 Plus: Compound Net Derivative Liability 4,950,000 7,410,000 Net carrying amount of Convertible Notes, related party $ 32,377,000 $ 30,776,000 In connection with the Note Purchase Agreement, the Company entered into common stock warrants (the “Warrants”) with the Purchasers, which mature on March 30, 2029. The fair value of the Warrants, using Level 3 inputs and the Monte Carlo simulation model, was zero at December 31, 2024 and March 31, 2024. The Company Redemption option has been combined with the Conversion Option as a compound net derivative liability (the “Compound Net Derivative Liability”). The Compound Net Derivative Liability has been recorded within convertible note, related party The Convertible Notes also contain additional features, such as, default interest and options related to a fundamental transaction, which were not separately accounted for as the value of such features were not material at December 31, 2024 and March 31, 2024. Interest expense related to the Convertible Notes is as follows: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 Contractual interest expense $ 880,000 $ 800,000 $ 2,640,000 $ 2,400,000 Accretion of debt discount 260,000 217,000 747,000 626,000 Amortization of debt issuance costs 37,000 30,000 105,000 87,000 Total interest expense $ 1,177,000 $ 1,047,000 $ 3,492,000 $ 3,113,000 There are no future payments required under the Convertible Notes prior to their maturity, therefore, the principal amount of the Convertible Notes plus interest payable in-kind, assuming no early redemption or conversion has occurred, of $56,704,000 would be paid on March 30, 2029.

Contract Liabilities

Contract Liabilities	9 Months Ended
	Dec. 31, 2024
Contract Liabilities [Abstract]
Contract Liabilities	8. Contract Liabilities Contract liabilities are comprised of the following: December 31, 2024 March 31, 2024 Short-term contract liabilities Customer allowances earned $ 19,472,000 $ 19,789,000 Customer core returns accruals 9,081,000 10,448,000 Accrued core payment 3,144,000 3,476,000 Customer deposits 2,257,000 1,735,000 Core bank liability 1,780,000 1,739,000 Finished goods liabilities 505,000 404,000 Total short-term contract liabilities $ 36,239,000 $ 37,591,000 Long-term contract liabilities Customer core returns accruals $ 216,779,000 $ 193,545,000 Core bank liability 10,502,000 11,843,000 Accrued core payment 4,681,000 6,535,000 Finished goods liabilities - 145,000 Total long-term contract liabilities $ 231,962,000 $ 212,068,000

Leases

Leases	9 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Leases	9. Leases The Company leases various facilities in North America and Asia under operating leases expiring through August 2033. The Company has material nonfunctional currency leases that could have a material impact on the Company’s condensed consolidated statements of operations. As required for other monetary liabilities, lessees remeasure foreign currency-denominated lease liabilities using the exchange rate at each reporting date, but the lease assets are nonmonetary assets measured at historical rates and are not affected by subsequent changes in the exchange rates. In connection with the remeasurement of these leases, the Company recorded a loss of $1,875,000 and a gain of $2,608,000 during the three months ended December 31, 2024 and 2023, respectively. In connection with the remeasurement of these leases, the Company recorded a loss of $11,562,000 and a gain of $4,430,000 during the nine months ended December 31, 2024 and 2023, respectively. These amounts are included in foreign exchange impact of lease liabilities and forward contracts in the condensed consolidated statements of operations. During the nine months ended December 31, 2024, the Company ceased manufacturing operations at its Torrance, California facility as a part of its on-going strategy to utilize its global footprint to enhance its operating efficiencies. This represented a significant change to the use of this right-of-use asset, which required a reassessment of the Company’s asset groups. The Company concluded that this right-of-use asset was no longer part of the Hard Parts asset group. The Company performed a test for recoverability (using Level 3 inputs) which resulted in no impairment at December 31, 2024. Any future changes to the assumptions and estimates from those anticipated may affect the carrying value of right-of-use assets and could result in impairment charges. Balance sheet information for leases is as follows: Leases Classification December 31, 2024 March 31, 2024 Assets: Operating Operating lease assets $ 67,552,000 $ 83,973,000 Finance Plant and equipment 3,710,000 4,611,000 Total leased assets $ 71,262,000 $ 88,584,000 Liabilities: Current Operating Operating lease liabilities $ 9,308,000 $ 8,319,000 Finance Other current liabilities 1,289,000 1,585,000 Long-term Operating Long-term operating lease liabilities 66,833,000 72,240,000 Finance Other liabilities 1,560,000 1,893,000 Total lease liabilities $ 78,990,000 $ 84,037,000 Lease cost recognized in the condensed consolidated statements of operations is as follows: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 Lease cost Operating lease cost $ 3,391,000 $ 3,740,000 $ 10,673,000 $ 11,243,000 Short-term lease cost 267,000 274,000 960,000 917,000 Variable lease cost 83,000 138,000 338,000 470,000 Finance lease cost: Amortization of finance lease assets 287,000 361,000 940,000 1,155,000 Interest on finance lease liabilities 44,000 51,000 140,000 170,000 Total lease cost $ 4,072,000 $ 4,564,000 $ 13,051,000 $ 13,955,000 Maturities of lease commitments at December 31, 2024 by fiscal year were as follows: Maturity of lease liabilities Operating Leases Finance Leases Total 2025 - remaining three months $ 3,315,000 $ 427,000 $ 3,742,000 2026 13,439,000 1,190,000 14,629,000 2027 11,662,000 699,000 12,361,000 2028 11,126,000 483,000 11,609,000 2029 11,132,000 288,000 11,420,000 Thereafter 43,485,000 72,000 43,557,000 Total lease payments 94,159,000 3,159,000 97,318,000 Less amount representing interest (18,018,000 ) (310,000 ) (18,328,000 ) Present value of lease liabilities $ 76,141,000 $ 2,849,000 $ 78,990,000 Other information about leases is as follows: December 31, 2024 March 31, 2024 Lease term and discount rate Weighted-average remaining lease term (years): Finance leases 3.0 2.8 Operating leases 7.6 8.3 Weighted-average discount rate: Finance leases 6.8 % 6.4 % Operating leases 5.8 % 5.8 %

Accounts Receivable Discount Pr

Accounts Receivable Discount Programs	9 Months Ended
	Dec. 31, 2024
Accounts Receivable Discount Programs [Abstract]
Accounts Receivable Discount Programs	10. Accounts Receivable Discount Programs The Company uses accounts receivable discount programs offered by certain customers and their respective banks. Under these programs, the Company may sell those customers’ receivables to those banks at a discount to be agreed upon at the time the receivables are sold. These discount arrangements allow the Company to accelerate receipt of payment on customers’ receivables. The following is a summary of accounts receivable discount programs: Nine Months Ended December 31, 2024 2023 Receivables discounted $ 488,505,000 $ 465,073,000 Weighted average number of days collection was accelerated 342 334 Annualized weighted average discount rate 6.3 % 6.8 % Amount of discount recognized as interest expense $ 29,202,000 $ 29,395,000

Supplier Finance Programs

Supplier Finance Programs	9 Months Ended
	Dec. 31, 2024
Supplier Finance Programs [Abstract]
Supplier Finance Programs	11. Supplier Finance Programs The Company utilizes a supplier finance program, which allows certain of the Company’s suppliers to sell their receivables due from the Company to participating financial institutions at the sole discretion of both the supplier and the financial institutions. The program is administered by a third party. Commitments from participating financial institutions that are available to suppliers under this program increased to $27,000,000 from $15,000,000 during the three months ended December 31, 2024. The Company has no economic interest in the sale of these receivables and no direct relationship with the financial institution. Payments to the third-party administrator are based on services rendered and are not related to the volume or number of financing agreements between suppliers, financial institution, and the third-party administrator. The Company is not a party to agreements negotiated between participating suppliers and the financial institution. The Company's obligations to its suppliers, including amounts due and payment terms, are not affected by a supplier's decision to participate in this program. The Company does not provide guarantees and there are no assets pledged to the financial institution or the third-party administrator for the committed payment in connection with this program. At December 31, 2024, the Company had $31,809,000 of outstanding supplier obligations confirmed as valid under this program, included in accounts payable

Net Income (Loss) per Share

Net Income (Loss) per Share	9 Months Ended
	Dec. 31, 2024
Net Income (Loss) per Share [Abstract]
Net Income (Loss) per Share	12. Net Income (Loss) per Share Basic net loss per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share includes the effect, if any, from the potential exercise or conversion of securities, such as stock options, Warrants, and Convertible Notes (as defined in Note 7), which would result in the issuance of incremental shares of common stock to the extent such impact is not anti-dilutive. The following presents a reconciliation of basic and diluted net income (loss) per share: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 Net income (loss) $ 2,291,000 $ (47,214,000 ) $ (18,748,000 ) $ (50,582,000 ) Basic shares 19,783,170 19,634,306 19,739,481 19,580,960 Effect of potentially dilutive securities 633,788 - - - Diluted shares 20,416,958 19,634,306 19,739,481 19,580,960 Net income (loss) per share: Basic net income (loss) per share $ 0.12 $ (2.40 ) $ (0.95 ) $ (2.58 ) Diluted net income (loss) per share $ 0.11 $ (2.40 ) $ (0.95 ) $ (2.58 ) Potential common shares that would have the effect of increasing diluted net income per share or decreasing diluted net loss per share are considered to be anti-dilutive and as such, these shares are not included in calculating diluted net loss per share. For the three months ended December 31, 2024, there were 15,526 of potential common shares not included in the calculation of diluted net income per share because their effect was anti-dilutive. For the nine months ended December 31, 2024, there were 2,516,729 of potential common shares not included in the calculation of diluted net loss per share because their effect was anti-dilutive. For the three and nine months ended December 31, 2023, there were 2,130,615, respectively, of potential common shares not included in the calculation of diluted net loss per share because their effect was anti-dilutive. In addition, for the three and nine months ended December 31, 2024 there were 2,523,304 and 2,464,622, respectively, of potential common shares not included in the calculation of diluted net income (loss) per share under the “if-converted” method for the Convertible Notes because their effect was anti-dilutive. In addition, for the three and nine months ended December 31, 2023, there were 2,293,926, respectively, of potential common shares not included in the calculation of diluted net loss per share under the “if-converted” method for the Convertible Notes because their effect was anti-dilutive. The potential common shares related to the Warrants issued in connection with the Convertible Notes (see Note 7) are anti-dilutive until they become exercisable and as of December 31, 2024, the Warrants were not exercisable.

Income Taxes

Income Taxes	9 Months Ended
	Dec. 31, 2024
Income Taxes [Abstract]
Income Taxes	13. Income Taxes The Company recorded income tax expense of $1,115,000, or an effective tax rate of 32.7%, and $37,281,000, or an effective tax rate of (375.3)%, for the three months ended December 31, 2024 and 2023, respectively. The Company recorded an income tax expense of $1,849,000, or an effective tax rate of (10.9)%, and $37,226,000, or an effective tax rate of (278.7)%, for the nine months ended December 31, 2024 and 2023, respectively. The effective tax rate for the three and nine months ended December 31, 2024, was primarily impacted by (i) foreign income taxed at rates that are different from the federal statutory rate, (ii) the change in valuation allowance, and (iii) specific jurisdictions that the Company does not expect to recognize the benefit of losses. The Company’s effective tax rate for the three and nine months ended December 31, 2023 was primarily impacted by the establishment of a valuation allowance on deferred tax assets that were not expected to be realized. Management continues to monitor its valuation allowance position in its various jurisdictions. In assessing the need for a valuation allowance, the Company considers all positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, past financial performance, and tax planning strategies. Based on this analysis, the Company determined that it is more likely than not that certain deferred tax assets will not be realized. As a result, the Company maintained its valuation allowance. The Company will continue to monitor the need for a valuation allowance in future periods, considering any changes in circumstances that may affect the realizability of deferred tax assets. The Company and its subsidiaries file income tax returns for the U.S. federal, various state, and foreign jurisdictions with varying statutes of limitations. The Company was previously under examination by the State of California for fiscal years ended March 31, 2020, 2021 and 2022. During the nine months ended December 31, 2024, this audit was concluded with no changes required to the Company’s filed income tax returns. At December 31, 2024, the Company remains subject to examination from the fiscal years ended March 31, 2020 and forward. The Company believes no significant changes in the unrecognized tax benefits will occur within the next 12 months.

Financial Risk Management and D

Financial Risk Management and Derivatives	9 Months Ended
	Dec. 31, 2024
Financial Risk Management and Derivatives [Abstract]
Financial Risk Management and Derivatives	14. Financial Risk Management and Derivatives Purchases and expenses denominated in currencies other than the U.S. dollar, which are primarily related to the Company’s overseas facilities, expose the Company to market risk from material movements in foreign exchange rates between the U.S. dollar and the foreign currencies. The Company’s primary risk exposure is from fluctuations in the value of the Mexican peso and to a lesser extent the Chinese yuan. To mitigate these risks, the Company enters into forward foreign currency exchange contracts to exchange U.S. dollars for these foreign currencies. The extent to which forward foreign currency exchange contracts are used, is modified periodically in response to the Company’s estimate of market conditions and the terms and length of anticipated requirements. The Company enters into forward foreign currency exchange contracts in order to reduce the impact of foreign currency fluctuations and not to engage in currency speculation. The use of derivative financial instruments allows the Company to reduce its exposure to the risk that the eventual cash outflow resulting from funding the expenses of the foreign operations will be materially affected by changes in exchange rates between the U.S. dollar and the foreign currencies. The Company does not hold or issue financial instruments for trading purposes. The Company designates forward foreign currency exchange contracts for forecasted expenditure requirements to fund foreign operations. The Company had forward foreign currency exchange contracts with a U.S. dollar equivalent notional value of $50,947,000 and $54,092,000 at December 31, 2024 and March 31, 2024, respectively. These contracts generally have a term of one The following shows the effect of derivative instruments on the condensed consolidated statements of operations: Foreign Exchange Impact of Lease Liabilities and Forward Contracts Three Months Ended Nine Months Ended Derivatives Not Designated as December 31, December 31, Hedging Instruments 2024 2023 2024 2023 (Loss) gain from forward foreign currency exchange contracts $ (585,000 ) $ 541,000 $ (7,404,000 ) $ (1,771,000 ) The fair value of the forward foreign currency exchange contracts of $4,888,000 is included in other current liabilities in the condensed consolidated balance sheets at December 31, 2024. The fair value of the forward foreign currency exchange contracts of $2,516,000 is included in prepaid expenses and other current assets in the condensed consolidated balance sheets at March 31, 2024. The changes in the fair values of forward foreign currency exchange contracts are included in foreign exchange impact of lease liabilities and forward contracts in the condensed consolidated statements of cash flows for the nine months ended December 31, 2024 and 2023.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Dec. 31, 2024
Fair Value Measurements [Abstract]
Fair Value Measurements	15. Fair Value Measurements The following summarizes financial assets and liabilities measured at fair value, by level within the fair value hierarchy: December 31, 2024 March 31, 2024 Fair Value Measurements Fair Value Measurements Using Inputs Considered as Using Inputs Considered as Fair Value Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Assets Short-term investments Mutual funds $ 1,909,000 $ 1,909,000 $ - $ - $ 1,837,000 $ 1,837,000 $ - $ - Prepaid expenses and other current assets Forward foreign currency exchange contracts - - - - 2,516,000 - 2,516,000 - Liabilities Other current liabilities Deferred compensation 1,909,000 1,909,000 - - 1,837,000 1,837,000 - - Forward foreign currency exchange contracts 4,888,000 - 4,888,000 - - - - - Convertible notes, related party Compound Net Derivative Liability 4,950,000 - - 4,950,000 7,410,000 - - 7,410,000 Short-term Investments and Deferred Compensation The Company’s short-term investments, which fund its deferred compensation liabilities, consist of investments in mutual funds. These investments are classified as Level 1 as the shares of these mutual funds trade with sufficient frequency and volume to enable the Company to obtain pricing information on an ongoing basis. Forward Foreign Currency Exchange Contracts The forward foreign currency exchange contracts are primarily measured based on the foreign currency spot and forward rates quoted by the banks or foreign currency dealers (See Note 14). Compound Net Derivative Liability The Company estimates the fair value of the Compound Net Derivative Liability (see Note 7) using Level 3 inputs and the Monte Carlo simulation model at the balance sheet date. The Monte Carlo simulation model requires the input of subjective assumptions including the expected volatility of the underlying stock. These subjective assumptions are based on both historical and other information. Changes in the values assumed and used in the model can materially affect the estimate of fair value. This amount is recorded within convertible notes, related party in the condensed consolidated balance sheets at December 31, 2024 and March 31, 2024. Any changes in the fair value of the Compound Net Derivative Liability are recorded in change in fair value of compound net derivative liability in the condensed consolidated statements of operations and condensed consolidated statements of cash flows. The following assumptions were used to determine the fair value of the Compound Net Derivative Liability: December 31, 2024 March 31, 2024 Risk free interest rate 4.35 % 4.36 % Cost of equity 23.40 % 23.20 % Weighted average cost of capital 14.40 % 14.90 % Expected volatility of the Company's common stock 40.00 % 50.00 % EBITDA volatility 40.00 % 40.00 % The following summarizes the activity for Level 3 fair value measurements: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 Beginning balance $ 5,210,000 $ 8,960,000 $ 7,410,000 $ 8,430,000 Changes in fair value of Compound Net Derivative Liability included in earnings (260,000 ) 1,160,000 (2,460,000 ) 1,690,000 Ending balance $ 4,950,000 $ 10,120,000 $ 4,950,000 $ 10,120,000 During the three and nine months ended December 31, 2024, the Company had no significant measurements of assets or liabilities at fair value on a nonrecurring basis subsequent to their initial recognition. The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities approximate their fair value due to the short-term nature of these instruments. The carrying amounts of the revolving loan and other long-term liabilities approximate their fair value based on the variable nature of interest rates and current rates for instruments with similar characteristics. At December 31, 2024 and March 31, 2024, the net carrying amount of the Convertible Notes was $32,377,000 and $30,776,000, respectively (see Note 7). The estimated fair value of the Company’s Convertible Notes was $36,168,000 and $38,276,000 using Level 3 inputs at December 31, 2024 and March 31, 2024, respectively.

Share-based Payments

Share-based Payments	9 Months Ended
	Dec. 31, 2024
Share-based Payments [Abstract]
Share-based Payments	16. Share-based Payments Stock Options The Company did not grant any options to purchase shares of its common stock during the nine months ended December 31, 2024. The Company granted options to purchase 132,133 shares of common stock during the nine months ended December 31, 2023. The following assumptions were used to derive the weighted average fair value of the stock options granted: Nine Months Ended December 31, 2023 Weighted average risk free interest rate 4.53 % Weighted average expected holding period (years) 6.57 Weighted average expected volatility 51.29 % Weighted average expected dividend yield - Weighted average fair value of options granted $ 3.75 The following is a summary of stock option transactions: Number of Weighted Average Shares Exercise Price Outstanding at March 31, 2024 1,108,017 $ 20.29 Granted - $ - Exercised - $ - Forfeited/Cancelled (17,723 ) $ 20.13 Expired (36,733 ) $ 22.93 Outstanding at December 31, 2024 1,053,561 $ 20.20 At December 31, 2024, options to purchase 87,288 shares of common stock were unvested at a weighted average exercise price of $9.32. At December 31, 2024, there was $282,000 of total unrecognized compensation expense related to unvested stock option awards, which will be recognized over the weighted average remaining vesting period of approximately 1.7 years. Restricted Stock Units (“RSUs”) During the nine months ended December 31, 2024 and 2023, the Company granted 453,453 and 100,624, respectively, of time-based vesting RSUs, based on the closing market price on the grant date. The following is a summary of non-vested RSUs: Number of Weighted Average Grant Date Fair Value Outstanding at March 31, 2024 240,923 $ 12.23 Granted 453,453 $ 6.58 Vested (184,850 ) $ 12.02 Forfeited/Cancelled (4,069 ) $ 8.72 Outstanding at December 31, 2024 505,457 $ 7.26 At December 31, 2024, there was $2,819,000 of unrecognized compensation expense related to RSUs, which will be recognized over the weighted average remaining vesting period of approximately 2.1 years. Performance Stock Units (“PSUs”) During the nine months ended December 31, 2024, the Company granted 258,983 PSUs (at target performance levels), which cliff vest after a three During the nine months ended December 31, 2023, the Company granted 585,583 PSUs, which vest within a three 1/3 The Company calculated the fair value of these PSUs individually for each tranche using the Monte Carlo Simulation Model at the grant date. Compensation cost is recognized over the estimated derived service period. Compensation cost related to these awards will not be adjusted even if the market condition is not met. The following table summarizes the assumptions used in determining the fair value of these awards subject to market conditions: Nine Months Ended December 31, 2024 2023 Risk free interest rate 4.21-4.45 % 4.32-4.35 % Expected life in years 3.0 0.2-1.8 Expected volatility of the Company's common stock 59.8-62.8 % 54.2-55.1 % Average correlation coefficient of peer companies 16.5-17.4 % - % Expected dividend yield - - Grant date fair value $ 8.65-8.88 $ 3.57-8.37 The following is a summary of non-vested PSUs: Number of Shares Weighted Average Grant Date Fair Value Outstanding at March 31, 2024 773,923 $ 7.73 Granted (1) 269,935 $ 8.74 Vested (32,848 ) $ 22.27 Forfeited/Cancelled (53,299 ) $ 22.89 Outstanding at December 31, 2024 957,711 $ 6.83 (1) Granted includes 10,952 additional PSUs issued in connection with the vesting of the Company’s June 2021 PSU grant based on actual Company performance metrics exceeding target performance levels. At December 31, 2024, there was $2,248,000 of unrecognized compensation expense related to these awards, which will be recognized over the weighted average remaining vesting period of approximately 2.2 years.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Dec. 31, 2024
Commitments and Contingencies [Abstract]
Commitments and Contingencies	17. Commitments and Contingencies Warranty Returns The Company allows its customers to return goods that their consumers have returned to them, whether or not the returned item is defective (“warranty returns”). The Company accrues an estimate of its exposure to warranty returns based on a historical analysis of the level of this type of return as a percentage of unit sales. Amounts charged to expense for these warranty returns are considered in arriving at the Company’s net sales. The following summarizes the changes in the warranty returns: Three Months Ended Nine Months Ended December 31, Dece,ber 31, 2024 2023 2024 2023 Balance at beginning of period $ 16,649,000 $ 16,197,000 $ 19,326,000 $ 19,830,000 Charged to expense 38,116,000 34,532,000 113,212,000 102,666,000 Amounts processed (35,390,000 ) (34,599,000 ) (113,163,000 ) (106,366,000 ) Balance at end of period $ 19,375,000 $ 16,130,000 $ 19,375,000 $ 16,130,000 At December 31, 2024 and March 31, 2024, the Company’s total warranty return accrual was $19,375,000 and $19,326,000, respectively, of which $4,840,000 and $5,667,000, respectively, was included in the customer returns RGA issued within accounts receivable—net and $14,535,000 and $13,659,000, respectively, was included in the customer finished goods returns accrual in the condensed consolidated balance sheets. Contingencies The Company is subject to various lawsuits and claims. In addition, government agencies and self-regulatory organizations have the ability to conduct periodic examinations of and administrative proceedings regarding the Company’s business , and its compliance with law, code, and regulations related to matters including, but not limited to, environmental, information security, taxes, levies, tariffs and such

Segment Information

Segment Information	9 Months Ended
	Dec. 31, 2024
Segment Information [Abstract]
Segment Information	18. Segment Information The Company’s three operating segments are as follows: ● Hard Parts ● Test Solutions and Diagnostic Equipment ● Heavy Duty The Company’s Hard Parts operating segment meets the criteria of a reportable segment. The Test Solutions and Diagnostic Equipment and Heavy Duty segments are not material, are not required to be separately reported, and are included within the “all other” category. Financial information relating to the Company’s segments is as follows: Three Months Ended December 31, 2024 Hard Parts All Other Total Net sales to external customers $ 174,548,000 $ 11,628,000 $ 186,176,000 Intersegment sales 344,000 222,000 566,000 Operating income (loss) 19,069,000 (1) (1,515,000 ) 17,554,000 Depreciation and amortization 2,321,000 211,000 2,532,000 Segment assets 962,855,000 54,855,000 1,017,710,000 Capital expenditures 601,000 68,000 669,000 Three Months Ended December 31, 2023 Hard Parts All Other Total Net sales to external customers $ 161,254,000 $ 10,608,000 $ 171,862,000 Intersegment sales 242,000 116,000 358,000 Operating income (loss) 9,993,000 (1) (473,000 ) 9,520,000 Depreciation and amortization 2,557,000 321,000 2,878,000 Segment assets 1,005,470,000 51,965,000 1,057,435,000 Capital expenditures 221,000 72,000 293,000 Nine Months Ended December 31, 2024 Hard Parts All Other Total Net sales to external customers $ 527,412,000 $ 36,837,000 $ 564,249,000 Intersegment sales 840,000 794,000 1,634,000 Operating income (loss) 23,893,000 (1) (322,000 ) 23,571,000 Depreciation and amortization 7,247,000 615,000 7,862,000 Capital expenditures 1,402,000 314,000 1,716,000 Nine Months Ended December 31, 2023 Hard Parts All Other Total Net sales to external customers $ 495,422,000 $ 32,784,000 $ 528,206,000 Intersegment sales 442,000 249,000 691,000 Operating income (loss) 36,702,000 (1) (2,852,000 ) 33,850,000 Depreciation and amortization 7,825,000 1,019,000 8,844,000 Capital expenditures 352,000 110,000 462,000 Three Months Ended Nine Months Ended December 31, December 31, Net sales 2024 2023 2024 2023 Total net sales for reportable segment $ 174,892,000 $ 161,496,000 $ 528,252,000 $ 495,864,000 Other net sales 11,850,000 10,724,000 37,631,000 33,033,000 Elimination of intersegment net sales (566,000 ) (358,000 ) (1,634,000 ) (691,000 ) Total consolidated net sales $ 186,176,000 $ 171,862,000 $ 564,249,000 $ 528,206,000 Three Months Ended Nine Months Ended December 31, December 31, Profit or loss 2024 2023 2024 2023 Total operating income for reportable segment (1) $ 19,069,000 $ 9,993,000 $ 23,893,000 $ 36,702,000 Other operating loss (1,515,000 ) (473,000 ) (322,000 ) (2,852,000 ) Elimination of intersegment operating income 27,000 4,000 74,000 52,000 Interest expense, net (14,435,000 ) (18,297,000 ) (43,004,000 ) (45,400,000 ) Change in fair value of compound net derivative liability 260,000 (1,160,000 ) 2,460,000 (1,690,000 ) Loss on extinguishment of debt - - - (168,000 ) Total consolidated income (loss) before income tax expense $ 3,406,000 $ (9,933,000 ) $ (16,899,000 ) $ (13,356,000 ) Assets December 31, 2024 March 31, 2024 Total assets for reportable segment $ 962,855,000 $ 1,019,811,000 Other assets 54,855,000 54,946,000 Elimination of intersegment assets (68,202,000 ) (62,755,000 ) Total consolidated assets $ 949,508,000 $ 1,012,002,000 (1) Operating income for the Company’s Hard Parts segment includes the foreign exchange impact of lease liabilities and forward contracts, which were a loss of $2,460,000 and a gain of $3,149,000 for the three months ended December 31, 2024 and 2023, respectively, and a loss of $18,966,000 and a gain of $2,659,000, for the nine months ended December 31, 2024 and 2023, respectively.

Share Repurchases

Share Repurchases	9 Months Ended
	Dec. 31, 2024
Share Repurchases [Abstract]
Share Repurchases	19. Share Repurchases In August 2018, the Company’s board of directors approved an increase in its share repurchase program from $20,000,000 to $37,000,000 of its common stock. During the three and nine months ended December 31, 2024, the Company repurchased 268,130 shares of its common stock for $2,096,000. The Company did not repurchase any shares of its common stock during the three and nine months ended December 31, 2023. As of December 31, 2024, $20,841,000 has been utilized and $16,159,000 remains available to repurchase shares under the authorized share repurchase program, subject to the limit in the Company’s Credit Facility. The Company retired the 1,105,137 shares repurchased under this program through December 31, 2024. The Company’s share repurchase program does not obligate it to acquire any specific number of shares and shares may be repurchased in privately negotiated and/or open market transactions.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	20. Related Party Transactions Lease In December 2022, the Company entered into an operating lease for its 35,000 square foot manufacturing, warehouse, and office facility in Ontario, Canada, with a company co-owned by a member of management. The lease, which commenced January 1, 2023, has an initial term of one year with a base rent of approximately $27,000 per month and includes options to renew for up to four years. In November 2023, the Company exercised one of these options to renew for an additional one three Convertible Note and Election of Director In connection with the issuance and sale of the Company’s Convertible Notes on March 31, 2023 (see Note 7), the Board appointed Douglas Trussler, a co-founder of Bison Capital, to the Board. Mr. Trussler’s compensation is consistent with the Company’s previously disclosed standard compensation practices for non-employee directors, which are described in the Company’s Definitive Proxy Statement, filed with the SEC on July 26, 2024.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended						9 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2024	Dec. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 2,291,000	$ (2,954,000)	$ (18,085,000)	$ (47,214,000)	$ (1,958,000)	$ (1,410,000)	$ (18,748,000)	$ (50,582,000)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	9 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended December 31, 2024 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2025. This report should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto for the fiscal year ended March 31, 2024, which are included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on June 11, 2024, and the 10-K/A for the fiscal year ended March 31, 2024 as filed with the SEC on June 28, 2024. The accompanying condensed consolidated financial statements have been prepared on a consistent basis with, and there have been no material changes to the accounting policies described in Note 2, Summary of Significant Accounting Policies, to the consolidated financial statements that are presented in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2024.
Accounting Pronouncements Not Yet Adopted	Accounting Pronouncements Not Yet Adopted Disclosure Improvements In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative Reportable Segment Disclosures In November 2023, the FASB issued ASU 2023-07, Improvements to Reportable Segment Disclosures (Topic 280) Improvements to Income Tax Disclosures In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740) Disaggregation of Income Statement Expenses In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses (“DISE”) (Subtopic 220-40) Debt with Conversion and Other Options In November 2024, the FASB issued ASU 2024-04, Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments

Accounts Receivable - Net (Tabl

Accounts Receivable - Net (Tables)	9 Months Ended
	Dec. 31, 2024
Accounts Receivable - Net [Abstract]
Accounts Receivable	Accounts receivable — net is comprised of the following: December 31, 2024 March 31, 2024 Accounts receivable — trade $ 95,653,000 $ 118,500,000 Allowance for credit losses (77,000 ) (189,000 ) Customer payment discrepancies (1,706,000 ) (1,206,000 ) Customer returns RGA issued (11,830,000 ) (20,809,000 ) Total accounts receivable — net $ 82,040,000 $ 96,296,000

Inventory - Net (Tables)

Inventory - Net (Tables)	9 Months Ended
	Dec. 31, 2024
Inventory - Net [Abstract]
Inventory Net	Inventory — net is comprised of the following: December 31, 2024 March 31, 2024 Inventory — net Raw materials $ 157,397,000 $ 158,819,000 Work-in-process 9,750,000 7,943,000 Finished goods 201,049,000 227,650,000 368,196,000 394,412,000 Less allowance for excess and obsolete inventory (18,538,000 ) (17,372,000 ) Inventory 349,658,000 377,040,000 Inventory unreturned 17,370,000 20,288,000 Total inventory — net $ 367,028,000 $ 397,328,000

Contract Assets (Tables)

Contract Assets (Tables)	9 Months Ended
	Dec. 31, 2024
Contract Assets [Abstract]
Contract Assets	Contract assets are comprised of the following: December 31, 2024 March 31, 2024 Short-term contract assets Cores expected to be returned by customers $ 10,567,000 $ 15,409,000 Core premiums paid to customers 9,454,000 9,567,000 Upfront payments to customers 1,450,000 1,407,000 Finished goods premiums paid to customers 742,000 756,000 Total short-term contract assets $ 22,213,000 $ 27,139,000 Remanufactured cores held at customers' locations $ 300,166,000 $ 279,427,000 Core premiums paid to customers 24,771,000 30,227,000 Long-term core inventory deposits 5,569,000 5,569,000 Finished goods premiums paid to customers 2,138,000 2,341,000 Upfront payments to customers 1,780,000 2,718,000 Total long-term contract assets $ 334,424,000 $ 320,282,000

Significant Customer and Othe_2

Significant Customer and Other Information (Tables)	9 Months Ended
	Dec. 31, 2024
Significant Customer and Other Information [Abstract]
Concentrations of Risk	Significant Customer Concentrations The largest customers accounted for the following percentage of consolidated net sales: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 Net sales Customer A 41 % 34 % 38 % 35 % Customer C 23 % 26 % 27 % 27 % Customer B 22 % 23 % 20 % 21 % The largest customers accounted for the following percentage of accounts receivable – trade: December 31, 2024 March 31, 2024 Accounts receivable - trade Customer A 48 % 35 % Customer C 2 % 13 % Customer B 20 % 25 % Geographic and Product Information The Company’s products are sold predominantly in North America and accounted for the following percentages of consolidated net sales: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 Product line Rotating electrical products 68 % 65 % 67 % 66 % Brake-related products 21 % 21 % 22 % 21 % Wheel hub products 8 % 11 % 7 % 10 % Other products 3 % 3 % 4 % 3 % 100 % 100 % 100 % 100 %

Debt (Tables)

Debt (Tables)	9 Months Ended
	Dec. 31, 2024
Debt [Abstract]
Convertible Debt	The Company’s Convertible Notes are comprised of the following: December 31, 2024 March 31, 2024 Principal amount of Convertible Notes $ 35,209,000 $ 32,000,000 Less: unamortized debt discount attributed to Compound Net Derivative Liability (6,829,000 ) (7,576,000 ) Less: unamortized debt discount attributed to debt issuance costs (953,000 ) (1,058,000 ) Carrying amount of the Convertible Notes 27,427,000 23,366,000 Plus: Compound Net Derivative Liability 4,950,000 7,410,000 Net carrying amount of Convertible Notes, related party $ 32,377,000 $ 30,776,000
Total Interest Expense Recognized Related to Convertible Notes	Interest expense related to the Convertible Notes is as follows: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 Contractual interest expense $ 880,000 $ 800,000 $ 2,640,000 $ 2,400,000 Accretion of debt discount 260,000 217,000 747,000 626,000 Amortization of debt issuance costs 37,000 30,000 105,000 87,000 Total interest expense $ 1,177,000 $ 1,047,000 $ 3,492,000 $ 3,113,000

Contract Liabilities (Tables)

Contract Liabilities (Tables)	9 Months Ended
	Dec. 31, 2024
Contract Liabilities [Abstract]
Contract Liabilities	Contract liabilities are comprised of the following: December 31, 2024 March 31, 2024 Short-term contract liabilities Customer allowances earned $ 19,472,000 $ 19,789,000 Customer core returns accruals 9,081,000 10,448,000 Accrued core payment 3,144,000 3,476,000 Customer deposits 2,257,000 1,735,000 Core bank liability 1,780,000 1,739,000 Finished goods liabilities 505,000 404,000 Total short-term contract liabilities $ 36,239,000 $ 37,591,000 Long-term contract liabilities Customer core returns accruals $ 216,779,000 $ 193,545,000 Core bank liability 10,502,000 11,843,000 Accrued core payment 4,681,000 6,535,000 Finished goods liabilities - 145,000 Total long-term contract liabilities $ 231,962,000 $ 212,068,000

Leases (Tables)

Leases (Tables)	9 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Balance Sheet Information for Leases	Balance sheet information for leases is as follows: Leases Classification December 31, 2024 March 31, 2024 Assets: Operating Operating lease assets $ 67,552,000 $ 83,973,000 Finance Plant and equipment 3,710,000 4,611,000 Total leased assets $ 71,262,000 $ 88,584,000 Liabilities: Current Operating Operating lease liabilities $ 9,308,000 $ 8,319,000 Finance Other current liabilities 1,289,000 1,585,000 Long-term Operating Long-term operating lease liabilities 66,833,000 72,240,000 Finance Other liabilities 1,560,000 1,893,000 Total lease liabilities $ 78,990,000 $ 84,037,000
Lease Cost Recognized in Consolidated Statement of Operations	Lease cost recognized in the condensed consolidated statements of operations is as follows: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 Lease cost Operating lease cost $ 3,391,000 $ 3,740,000 $ 10,673,000 $ 11,243,000 Short-term lease cost 267,000 274,000 960,000 917,000 Variable lease cost 83,000 138,000 338,000 470,000 Finance lease cost: Amortization of finance lease assets 287,000 361,000 940,000 1,155,000 Interest on finance lease liabilities 44,000 51,000 140,000 170,000 Total lease cost $ 4,072,000 $ 4,564,000 $ 13,051,000 $ 13,955,000
Maturity of Lease Commitments	Maturities of lease commitments at December 31, 2024 by fiscal year were as follows: Maturity of lease liabilities Operating Leases Finance Leases Total 2025 - remaining three months $ 3,315,000 $ 427,000 $ 3,742,000 2026 13,439,000 1,190,000 14,629,000 2027 11,662,000 699,000 12,361,000 2028 11,126,000 483,000 11,609,000 2029 11,132,000 288,000 11,420,000 Thereafter 43,485,000 72,000 43,557,000 Total lease payments 94,159,000 3,159,000 97,318,000 Less amount representing interest (18,018,000 ) (310,000 ) (18,328,000 ) Present value of lease liabilities $ 76,141,000 $ 2,849,000 $ 78,990,000
Other Information about Leases	Other information about leases is as follows: December 31, 2024 March 31, 2024 Lease term and discount rate Weighted-average remaining lease term (years): Finance leases 3.0 2.8 Operating leases 7.6 8.3 Weighted-average discount rate: Finance leases 6.8 % 6.4 % Operating leases 5.8 % 5.8 %

Accounts Receivable Discount _2

Accounts Receivable Discount Programs (Tables)	9 Months Ended
	Dec. 31, 2024
Accounts Receivable Discount Programs [Abstract]
Accounts Receivable Discount Programs	The following is a summary of accounts receivable discount programs: Nine Months Ended December 31, 2024 2023 Receivables discounted $ 488,505,000 $ 465,073,000 Weighted average number of days collection was accelerated 342 334 Annualized weighted average discount rate 6.3 % 6.8 % Amount of discount recognized as interest expense $ 29,202,000 $ 29,395,000

Net Income (Loss) per Share (Ta

Net Income (Loss) per Share (Tables)	9 Months Ended
	Dec. 31, 2024
Net Income (Loss) per Share [Abstract]
Reconciliation of Basic and Diluted Net Income (Loss) Per Share	The following presents a reconciliation of basic and diluted net income (loss) per share: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 Net income (loss) $ 2,291,000 $ (47,214,000 ) $ (18,748,000 ) $ (50,582,000 ) Basic shares 19,783,170 19,634,306 19,739,481 19,580,960 Effect of potentially dilutive securities 633,788 - - - Diluted shares 20,416,958 19,634,306 19,739,481 19,580,960 Net income (loss) per share: Basic net income (loss) per share $ 0.12 $ (2.40 ) $ (0.95 ) $ (2.58 ) Diluted net income (loss) per share $ 0.11 $ (2.40 ) $ (0.95 ) $ (2.58 )

Financial Risk Management and_2

Financial Risk Management and Derivatives (Tables)	9 Months Ended
	Dec. 31, 2024
Financial Risk Management and Derivatives [Abstract]
Derivative Instruments on Consolidated Statements of Operations	The following shows the effect of derivative instruments on the condensed consolidated statements of operations: Foreign Exchange Impact of Lease Liabilities and Forward Contracts Three Months Ended Nine Months Ended Derivatives Not Designated as December 31, December 31, Hedging Instruments 2024 2023 2024 2023 (Loss) gain from forward foreign currency exchange contracts $ (585,000 ) $ 541,000 $ (7,404,000 ) $ (1,771,000 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Dec. 31, 2024
Fair Value Measurements [Abstract]
Financial Assets and Liabilities Measured at Fair Value Recurring Basis	The following summarizes financial assets and liabilities measured at fair value, by level within the fair value hierarchy: December 31, 2024 March 31, 2024 Fair Value Measurements Fair Value Measurements Using Inputs Considered as Using Inputs Considered as Fair Value Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Assets Short-term investments Mutual funds $ 1,909,000 $ 1,909,000 $ - $ - $ 1,837,000 $ 1,837,000 $ - $ - Prepaid expenses and other current assets Forward foreign currency exchange contracts - - - - 2,516,000 - 2,516,000 - Liabilities Other current liabilities Deferred compensation 1,909,000 1,909,000 - - 1,837,000 1,837,000 - - Forward foreign currency exchange contracts 4,888,000 - 4,888,000 - - - - - Convertible notes, related party Compound Net Derivative Liability 4,950,000 - - 4,950,000 7,410,000 - - 7,410,000
Fair Value Assumptions	The following assumptions were used to determine the fair value of the Compound Net Derivative Liability: December 31, 2024 March 31, 2024 Risk free interest rate 4.35 % 4.36 % Cost of equity 23.40 % 23.20 % Weighted average cost of capital 14.40 % 14.90 % Expected volatility of the Company's common stock 40.00 % 50.00 % EBITDA volatility 40.00 % 40.00 %
Activity for Level 3 Fair Value Measurements	The following summarizes the activity for Level 3 fair value measurements: Three Months Ended Nine Months Ended December 31, December 31, 2024 2023 2024 2023 Beginning balance $ 5,210,000 $ 8,960,000 $ 7,410,000 $ 8,430,000 Changes in fair value of Compound Net Derivative Liability included in earnings (260,000 ) 1,160,000 (2,460,000 ) 1,690,000 Ending balance $ 4,950,000 $ 10,120,000 $ 4,950,000 $ 10,120,000

Share-based Payments (Tables)

Share-based Payments (Tables)	9 Months Ended
	Dec. 31, 2024
Share-based Payments [Abstract]
Assumptions Used to Derive Weighted Average Fair Value of Stock Options Granted	The following assumptions were used to derive the weighted average fair value of the stock options granted: Nine Months Ended December 31, 2023 Weighted average risk free interest rate 4.53 % Weighted average expected holding period (years) 6.57 Weighted average expected volatility 51.29 % Weighted average expected dividend yield - Weighted average fair value of options granted $ 3.75
Stock Option Transactions	The following is a summary of stock option transactions: Number of Weighted Average Shares Exercise Price Outstanding at March 31, 2024 1,108,017 $ 20.29 Granted - $ - Exercised - $ - Forfeited/Cancelled (17,723 ) $ 20.13 Expired (36,733 ) $ 22.93 Outstanding at December 31, 2024 1,053,561 $ 20.20
Restricted Stock Units Activity	The following is a summary of non-vested RSUs: Number of Weighted Average Grant Date Fair Value Outstanding at March 31, 2024 240,923 $ 12.23 Granted 453,453 $ 6.58 Vested (184,850 ) $ 12.02 Forfeited/Cancelled (4,069 ) $ 8.72 Outstanding at December 31, 2024 505,457 $ 7.26
Monte Carlo Valuation Model Assumptions Used in Determining Fair Value of TSR Awards	The following table summarizes the assumptions used in determining the fair value of these awards subject to market conditions: Nine Months Ended December 31, 2024 2023 Risk free interest rate 4.21-4.45 % 4.32-4.35 % Expected life in years 3.0 0.2-1.8 Expected volatility of the Company's common stock 59.8-62.8 % 54.2-55.1 % Average correlation coefficient of peer companies 16.5-17.4 % - % Expected dividend yield - - Grant date fair value $ 8.65-8.88 $ 3.57-8.37
Performance Stock Units Activity	The following is a summary of non-vested PSUs: Number of Shares Weighted Average Grant Date Fair Value Outstanding at March 31, 2024 773,923 $ 7.73 Granted (1) 269,935 $ 8.74 Vested (32,848 ) $ 22.27 Forfeited/Cancelled (53,299 ) $ 22.89 Outstanding at December 31, 2024 957,711 $ 6.83 (1) Granted includes 10,952 additional PSUs issued in connection with the vesting of the Company’s June 2021 PSU grant based on actual Company performance metrics exceeding target performance levels.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Dec. 31, 2024
Commitments and Contingencies [Abstract]
Changes in Warranty Returns	The following summarizes the changes in the warranty returns: Three Months Ended Nine Months Ended December 31, Dece,ber 31, 2024 2023 2024 2023 Balance at beginning of period $ 16,649,000 $ 16,197,000 $ 19,326,000 $ 19,830,000 Charged to expense 38,116,000 34,532,000 113,212,000 102,666,000 Amounts processed (35,390,000 ) (34,599,000 ) (113,163,000 ) (106,366,000 ) Balance at end of period $ 19,375,000 $ 16,130,000 $ 19,375,000 $ 16,130,000

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Dec. 31, 2024
Segment Information [Abstract]
Financial Information Relating to Segments	Financial information relating to the Company’s segments is as follows: Three Months Ended December 31, 2024 Hard Parts All Other Total Net sales to external customers $ 174,548,000 $ 11,628,000 $ 186,176,000 Intersegment sales 344,000 222,000 566,000 Operating income (loss) 19,069,000 (1) (1,515,000 ) 17,554,000 Depreciation and amortization 2,321,000 211,000 2,532,000 Segment assets 962,855,000 54,855,000 1,017,710,000 Capital expenditures 601,000 68,000 669,000 Three Months Ended December 31, 2023 Hard Parts All Other Total Net sales to external customers $ 161,254,000 $ 10,608,000 $ 171,862,000 Intersegment sales 242,000 116,000 358,000 Operating income (loss) 9,993,000 (1) (473,000 ) 9,520,000 Depreciation and amortization 2,557,000 321,000 2,878,000 Segment assets 1,005,470,000 51,965,000 1,057,435,000 Capital expenditures 221,000 72,000 293,000 Nine Months Ended December 31, 2024 Hard Parts All Other Total Net sales to external customers $ 527,412,000 $ 36,837,000 $ 564,249,000 Intersegment sales 840,000 794,000 1,634,000 Operating income (loss) 23,893,000 (1) (322,000 ) 23,571,000 Depreciation and amortization 7,247,000 615,000 7,862,000 Capital expenditures 1,402,000 314,000 1,716,000 Nine Months Ended December 31, 2023 Hard Parts All Other Total Net sales to external customers $ 495,422,000 $ 32,784,000 $ 528,206,000 Intersegment sales 442,000 249,000 691,000 Operating income (loss) 36,702,000 (1) (2,852,000 ) 33,850,000 Depreciation and amortization 7,825,000 1,019,000 8,844,000 Capital expenditures 352,000 110,000 462,000 Three Months Ended Nine Months Ended December 31, December 31, Net sales 2024 2023 2024 2023 Total net sales for reportable segment $ 174,892,000 $ 161,496,000 $ 528,252,000 $ 495,864,000 Other net sales 11,850,000 10,724,000 37,631,000 33,033,000 Elimination of intersegment net sales (566,000 ) (358,000 ) (1,634,000 ) (691,000 ) Total consolidated net sales $ 186,176,000 $ 171,862,000 $ 564,249,000 $ 528,206,000 Three Months Ended Nine Months Ended December 31, December 31, Profit or loss 2024 2023 2024 2023 Total operating income for reportable segment (1) $ 19,069,000 $ 9,993,000 $ 23,893,000 $ 36,702,000 Other operating loss (1,515,000 ) (473,000 ) (322,000 ) (2,852,000 ) Elimination of intersegment operating income 27,000 4,000 74,000 52,000 Interest expense, net (14,435,000 ) (18,297,000 ) (43,004,000 ) (45,400,000 ) Change in fair value of compound net derivative liability 260,000 (1,160,000 ) 2,460,000 (1,690,000 ) Loss on extinguishment of debt - - - (168,000 ) Total consolidated income (loss) before income tax expense $ 3,406,000 $ (9,933,000 ) $ (16,899,000 ) $ (13,356,000 ) Assets December 31, 2024 March 31, 2024 Total assets for reportable segment $ 962,855,000 $ 1,019,811,000 Other assets 54,855,000 54,946,000 Elimination of intersegment assets (68,202,000 ) (62,755,000 ) Total consolidated assets $ 949,508,000 $ 1,012,002,000 (1) Operating income for the Company’s Hard Parts segment includes the foreign exchange impact of lease liabilities and forward contracts, which were a loss of $2,460,000 and a gain of $3,149,000 for the three months ended December 31, 2024 and 2023, respectively, and a loss of $18,966,000 and a gain of $2,659,000, for the nine months ended December 31, 2024 and 2023, respectively.

Accounts Receivable - Net - Acc

Accounts Receivable - Net - Accounts Receivable - Net (Details) - USD ($)	Dec. 31, 2024	Mar. 31, 2024
Components of accounts receivable [Abstract]
Accounts receivable — trade	$ 95,653,000	$ 118,500,000
Allowance for credit losses	(77,000)	(189,000)
Customer payment discrepancies	(1,706,000)	(1,206,000)
Customer returns RGA issued	(11,830,000)	(20,809,000)
Total accounts receivable — net	$ 82,040,000	$ 96,296,000

Inventory - Net - Inventory - N

Inventory - Net - Inventory - Net (Details) - USD ($)	Dec. 31, 2024	Mar. 31, 2024
Inventory, Net [Abstract]
Raw materials	$ 157,397,000	$ 158,819,000
Work-in-process	9,750,000	7,943,000
Finished goods	201,049,000	227,650,000
Inventory, gross	368,196,000	394,412,000
Less allowance for excess and obsolete inventory	(18,538,000)	(17,372,000)
Inventory	349,658,000	377,040,000
Inventory unreturned	17,370,000	20,288,000
Total inventory — net	$ 367,028,000	$ 397,328,000

Contract Assets (Details)

Contract Assets (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Contract Assets [Abstract]
Long-term contract assets, write-down	$ 758,000	$ 1,607,000	$ 2,316,000	$ 4,380,000

Contract Assets - Contract Asse

Contract Assets - Contract Assets (Details) - USD ($)	Dec. 31, 2024	Mar. 31, 2024
Short-term contract assets
Cores expected to be returned by customers	$ 10,567,000	$ 15,409,000
Core premiums paid to customers	9,454,000	9,567,000
Upfront payments to customers	1,450,000	1,407,000
Finished goods premiums paid to customers	742,000	756,000
Total short-term contract assets	22,213,000	27,139,000
Remanufactured cores held at customers' locations	300,166,000	279,427,000
Core premiums paid to customers	24,771,000	30,227,000
Long-term core inventory deposits	5,569,000	5,569,000
Finished goods premiums paid to customers	2,138,000	2,341,000
Upfront payments to customers	1,780,000	2,718,000
Total long-term contract assets	$ 334,424,000	$ 320,282,000

Significant Customer and Othe_3

Significant Customer and Other Information - Significant Customer and Other Information (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Mar. 31, 2024
Customer Concentration Risk [Member] | Customer A [Member] | Net Sales [Member]
Concentration Risk [Line Items]
Concentration risk percentage	41%	34%	38%	35%
Customer Concentration Risk [Member] | Customer A [Member] | Accounts Receivable - Trade [Member]
Concentration Risk [Line Items]
Concentration risk percentage			48%		35%
Customer Concentration Risk [Member] | Customer C [Member] | Net Sales [Member]
Concentration Risk [Line Items]
Concentration risk percentage	23%	26%	27%	27%
Customer Concentration Risk [Member] | Customer C [Member] | Accounts Receivable - Trade [Member]
Concentration Risk [Line Items]
Concentration risk percentage			2%		13%
Customer Concentration Risk [Member] | Customer B [Member] | Net Sales [Member]
Concentration Risk [Line Items]
Concentration risk percentage	22%	23%	20%	21%
Customer Concentration Risk [Member] | Customer B [Member] | Accounts Receivable - Trade [Member]
Concentration Risk [Line Items]
Concentration risk percentage			20%		25%
Product Concentration Risk [Member] | Net Sales [Member]
Concentration Risk [Line Items]
Concentration risk percentage	100%	100%	100%	100%
Product Concentration Risk [Member] | Net Sales [Member] | Rotating Electrical Products [Member]
Concentration Risk [Line Items]
Concentration risk percentage	68%	65%	67%	66%
Product Concentration Risk [Member] | Net Sales [Member] | Brake-Related Products [Member]
Concentration Risk [Line Items]
Concentration risk percentage	21%	21%	22%	21%
Product Concentration Risk [Member] | Net Sales [Member] | Wheel Hub Products [Member]
Concentration Risk [Line Items]
Concentration risk percentage	8%	11%	7%	10%
Product Concentration Risk [Member] | Net Sales [Member] | Other Products [Member]
Concentration Risk [Line Items]
Concentration risk percentage	3%	3%	4%	3%

Debt (Details)

Debt (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Debt Instrument [Line Items]
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Convertible notes, related party		Convertible notes, related party		Convertible notes, related party
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Convertible notes, related party		Convertible notes, related party		Convertible notes, related party
Change in fair value of compound net derivative liability	$ 260,000	$ (1,160,000)	$ 2,460,000	$ (1,690,000)
Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 268,620,000		$ 268,620,000
Debt instrument, maturity date			Dec. 12, 2028
Percentage of aggregate revolving commitments	22.50%		22.50%
Revolving Facility [Member]
Debt Instrument [Line Items]
Interest rate at end of period	7.66%		7.66%		8.43%
Revolving Facility [Member] | Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 238,620,000		$ 238,620,000
Outstanding balance under revolving loan	94,802,000		94,802,000		$ 128,000,000
Amount available under revolving facility	127,962,000		127,962,000
Revolving Facility [Member] | Letters of Credit [Member]
Debt Instrument [Line Items]
Outstanding balance under revolving loan	7,047,000		7,047,000
Term Loans [Member] | Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	30,000,000		30,000,000
Convertible Notes [Member]
Debt Instrument [Line Items]
Interest rate at end of period						10%
Principal amount of Convertible Notes	$ 35,209,000		35,209,000		$ 32,000,000	$ 32,000,000
Interest paid in-kind			$ 3,209,000
Conversion price (in Dollars per share)	$ 15		$ 15
Effective interest rate	18.30%		18.30%		18.30%
Warrants maturity date	Mar. 30, 2029		Mar. 30, 2029
Warrants fair value	$ 0		$ 0		$ 0
Derivative liability	5,600,000		5,600,000		9,800,000
Derivative assets	650,000		650,000		$ 2,390,000
Change in fair value of compound net derivative liability	260,000	$ (1,160,000)	2,460,000	$ (1,690,000)
Total payments	$ 56,704,000		$ 56,704,000

Debt - Convertible Debt (Detail

Debt - Convertible Debt (Details) - Convertible Notes [Member] - USD ($)	Dec. 31, 2024	Mar. 31, 2024	Mar. 31, 2023
Debt Instrument [Line Items]
Principal amount of Convertible Notes	$ 35,209,000	$ 32,000,000	$ 32,000,000
Less: unamortized debt discount attributed to Compound Net Derivative Liability	(6,829,000)	(7,576,000)
Less: unamortized debt discount attributed to debt issuance costs	(953,000)	(1,058,000)
Carrying amount of the Convertible Notes	27,427,000	23,366,000
Plus: Compound Net Derivative Liability	4,950,000	7,410,000
Net carrying amount of Convertible Notes, related party	$ 32,377,000	$ 30,776,000

Debt - Total Interest Expense R

Debt - Total Interest Expense Recognized Related to Convertible Notes (Details) - Convertible Notes [Member] - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Contractual interest expense	$ 880,000	$ 800,000	$ 2,640,000	$ 2,400,000
Accretion of debt discount	260,000	217,000	747,000	626,000
Amortization of debt issuance costs	37,000	30,000	105,000	87,000
Total interest expense	$ 1,177,000	$ 1,047,000	$ 3,492,000	$ 3,113,000

Contract Liabilities - Contract

Contract Liabilities - Contract Liabilities (Details) - USD ($)	Dec. 31, 2024	Mar. 31, 2024
Short-term contract liabilities
Customer allowances earned	$ 19,472,000	$ 19,789,000
Customer core returns accruals	9,081,000	10,448,000
Accrued core payment	3,144,000	3,476,000
Customer deposits	2,257,000	1,735,000
Core bank liability	1,780,000	1,739,000
Finished goods liabilities	505,000	404,000
Total short-term contract liabilities	36,239,000	37,591,000
Long-term contract liabilities
Customer core returns accruals	216,779,000	193,545,000
Core bank liability	10,502,000	11,843,000
Accrued core payment	4,681,000	6,535,000
Finished goods liabilities	0	145,000
Total long-term contract liabilities	$ 231,962,000	$ 212,068,000

Leases (Details)

Leases (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
(Loss) gain in foreign currency-denominated lease liabilities	$ (1,875,000)	$ 2,608,000	$ (11,562,000)	$ 4,430,000
Impairment			$ 0

Leases - Balance Sheet Informat

Leases - Balance Sheet Information (Details) - USD ($)	Dec. 31, 2024	Mar. 31, 2024
Lessee Operating And Finance Leases Abstract
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Operating Lease, Right-of-Use Asset	Operating Lease, Right-of-Use Asset
Operating Lease, Right-of-Use Asset	$ 67,552,000	$ 83,973,000
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Plant and equipment — net	Plant and equipment — net
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	$ 3,710,000	$ 4,611,000
Operating and Finance Lease, Right-of-Use Assets	$ 71,262,000	$ 88,584,000
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Operating Lease, Liability, Current	Operating Lease, Liability, Current
Operating Lease, Liability, Current	$ 9,308,000	$ 8,319,000
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Finance Lease, Liability, Current	$ 1,289,000	$ 1,585,000
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Operating Lease, Liability, Noncurrent	Operating Lease, Liability, Noncurrent
Operating Lease, Liability, Noncurrent	$ 66,833,000	$ 72,240,000
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other liabilities	Other liabilities
Finance Lease, Liability, Noncurrent	$ 1,560,000	$ 1,893,000
Operating and Finance Lease, Liability	$ 78,990,000	$ 84,037,000

Leases - Cost Recognized in Con

Leases - Cost Recognized in Consolidated Statements of Income (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Lease cost
Operating lease cost	$ 3,391,000	$ 3,740,000	$ 10,673,000	$ 11,243,000
Short-term lease cost	267,000	274,000	960,000	917,000
Variable lease cost	83,000	138,000	338,000	470,000
Finance lease cost:
Amortization of finance lease assets	287,000	361,000	940,000	1,155,000
Interest on finance lease liabilities	44,000	51,000	140,000	170,000
Total lease cost	$ 4,072,000	$ 4,564,000	$ 13,051,000	$ 13,955,000

Leases - Maturities of Lease Co

Leases - Maturities of Lease Commitments (Details) - USD ($)	Dec. 31, 2024	Mar. 31, 2024
Operating Leases [Abstract]
2025 - remaining three months	$ 3,315,000
2025 - remaining three months	427,000
2025 - remaining three months	3,742,000
2026	13,439,000
2026	1,190,000
2026	14,629,000
2027	11,662,000
2027	699,000
2027	12,361,000
2028	11,126,000
2028	483,000
2028	11,609,000
2029	11,132,000
2029	288,000
2029	11,420,000
Thereafter	43,485,000
Thereafter	72,000
Thereafter	43,557,000
Total lease payments	94,159,000
Total lease payments	3,159,000
Total lease payments	97,318,000
Less amount representing interest	(18,018,000)
Less amount representing interest	(310,000)
Less amount representing interest	(18,328,000)
Present value of lease liabilities	76,141,000
Present value of lease liabilities	2,849,000
Present value of lease liabilities	$ 78,990,000	$ 84,037,000

Leases - Other Information (Det

Leases - Other Information (Details)	Dec. 31, 2024	Mar. 31, 2024
Weighted-average remaining lease term (years):
Finance leases	3 years	2 years 9 months 18 days
Operating leases	7 years 7 months 6 days	8 years 3 months 18 days
Weighted-average discount rate:
Finance leases	6.80%	6.40%
Operating leases	5.80%	5.80%

Accounts Receivable Discount _3

Accounts Receivable Discount Programs - Accounts Receivable Discount Programs (Details) - USD ($)	9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Accounts Receivable Discount Programs [Abstract]
Receivables discounted	$ 488,505,000	$ 465,073,000
Weighted average number of days collection was accelerated	342 days	334 days
Annualized weighted average discount rate	6.30%	6.80%
Amount of discount recognized as interest expense	$ 29,202,000	$ 29,395,000

Supplier Finance Programs (Deta

Supplier Finance Programs (Details) - USD ($)	Dec. 31, 2024	Sep. 30, 2024
Supplier Finance Programs [Abstract]
Amount available under program	$ 27,000,000	$ 15,000,000
Outstanding supplier obligations	$ 31,809,000
Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration]	Accounts payable and accrued liabilities

Net Income (Loss) per Share (De

Net Income (Loss) per Share (Details) - shares	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Potential Common Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from computation of earnings per share (in shares)	15,526	2,130,615	2,516,729	2,130,615
Convertible Notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from computation of earnings per share (in shares)	2,523,304	2,293,926	2,464,622	2,293,926

Net Income (Loss) per Share - N

Net Income (Loss) per Share - Net Income (Loss) per Share (Details) - USD ($)	3 Months Ended						9 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2024	Dec. 31, 2023
Reconciliation of basic and diluted net loss per share [Abstract]
Net income (loss) (in Dollars)	$ 2,291,000	$ (2,954,000)	$ (18,085,000)	$ (47,214,000)	$ (1,958,000)	$ (1,410,000)	$ (18,748,000)	$ (50,582,000)
Basic shares (in shares)	19,783,170			19,634,306			19,739,481	19,580,960
Effect of potentially dilutive securities (in shares)	633,788			0			0	0
Diluted shares (in shares)	20,416,958			19,634,306			19,739,481	19,580,960
Net income (loss) per share:
Basic net income (loss) per share (in Dollars per share)	$ 0.12			$ (2.4)			$ (0.95)	$ (2.58)
Diluted net income (loss) per share (in Dollars per share)	$ 0.11			$ (2.4)			$ (0.95)	$ (2.58)

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Income Taxes [Abstract]
Income tax expense (benefit)	$ 1,115,000	$ 37,281,000	$ 1,849,000	$ 37,226,000
Effective income tax rate	32.70%	(375.30%)	(10.90%)	(278.70%)

Financial Risk Management and_3

Financial Risk Management and Derivatives (Details) - USD ($)	9 Months Ended
	Dec. 31, 2024	Mar. 31, 2024
Offsetting Assets [Line Items]
Forward foreign currency exchange contracts included in other current liabilities	$ 4,888,000
Forward foreign currency exchange contracts included in prepaid and other current assets		$ 2,516,000
Loss from Forward Foreign Currency Exchange Contracts [Member]
Offsetting Assets [Line Items]
Notional amount of foreign currency derivatives	$ 50,947,000	$ 54,092,000
Loss from Forward Foreign Currency Exchange Contracts [Member] | Maximum [Member]
Offsetting Assets [Line Items]
Derivative, term of contract	1 year

Financial Risk Management and_4

Financial Risk Management and Derivatives - Financial Risk Management and Derivatives (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Loss from Forward Foreign Currency Exchange Contracts [Member] | Foreign Exchange Impact of Lease Liabilities and Forward Contracts [Member]
Offsetting Assets [Line Items]
(Loss) gain from forward foreign currency exchange contracts	$ (585,000)	$ 541,000	$ (7,404,000)	$ (1,771,000)

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	Dec. 31, 2024	Mar. 31, 2024
Compound Net Derivative Liability [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Net carrying amount of convertible notes	$ 32,377,000	$ 30,776,000
Convertible Notes [Member] | Level 3 [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Estimated fair value of convertible notes	$ 36,168,000	$ 38,276,000

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value Recurring Basis (Details) - Recurring [Member] - USD ($)	Dec. 31, 2024	Mar. 31, 2024
Short-term investments
Mutual funds	$ 1,909,000	$ 1,837,000
Prepaid expenses and other current assets
Forward foreign currency exchange contracts	0	2,516,000
Other current liabilities
Deferred compensation	1,909,000	1,837,000
Forward foreign currency exchange contracts	4,888,000	0
Convertible notes, related party
Compound Net Derivative Liability	4,950,000	7,410,000
Level 1 [Member]
Short-term investments
Mutual funds	1,909,000	1,837,000
Prepaid expenses and other current assets
Forward foreign currency exchange contracts	0	0
Other current liabilities
Deferred compensation	1,909,000	1,837,000
Forward foreign currency exchange contracts	0	0
Convertible notes, related party
Compound Net Derivative Liability	0	0
Level 2 [Member]
Short-term investments
Mutual funds	0	0
Prepaid expenses and other current assets
Forward foreign currency exchange contracts	0	2,516,000
Other current liabilities
Deferred compensation	0	0
Forward foreign currency exchange contracts	4,888,000	0
Convertible notes, related party
Compound Net Derivative Liability	0	0
Level 3 [Member]
Short-term investments
Mutual funds	0	0
Prepaid expenses and other current assets
Forward foreign currency exchange contracts	0	0
Other current liabilities
Deferred compensation	0	0
Forward foreign currency exchange contracts	0	0
Convertible notes, related party
Compound Net Derivative Liability	$ 4,950,000	$ 7,410,000

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Assumptions (Details) - Compound Net Derivative Liability [Member]	Dec. 31, 2024	Mar. 31, 2024
Risk Free Interest Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assumptions for fair value of Compound Net Derivative Liability	0.0435	0.0436
Cost of Equity [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assumptions for fair value of Compound Net Derivative Liability	0.234	0.232
Weighted Average Cost of Capital [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assumptions for fair value of Compound Net Derivative Liability	0.144	0.149
Expected Volatility of the Company's Common Stock [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assumptions for fair value of Compound Net Derivative Liability	0.40	0.50
EBITDA Volatility [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assumptions for fair value of Compound Net Derivative Liability	0.40	0.40

Fair Value Measurements - Activ

Fair Value Measurements - Activity for Level 3 Fair Value Measurements (Details) - Compound Net Derivative Liability [Member] - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 5,210,000	$ 8,960,000	$ 7,410,000	$ 8,430,000
Changes in fair value of Compound Net Derivative Liability included in earnings	(260,000)	1,160,000	(2,460,000)	1,690,000
Ending balance	$ 4,950,000	$ 10,120,000	$ 4,950,000	$ 10,120,000

Share-based Payments (Details)

Share-based Payments (Details) - USD ($)	9 Months Ended
	Dec. 31, 2024		Dec. 31, 2023
Stock Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted (in shares)	0
Number of stock options unvested (in shares)	87,288		132,133
Weighted average exercise price of stock options unvested (in Dollars per share)	$ 9.32
Total unrecognized compensation expense (in Dollars)	$ 282,000
Weighted average remaining vesting period over which compensation expense is expected to be recognized	1 year 8 months 12 days
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average remaining vesting period over which compensation expense is expected to be recognized	2 years 1 month 6 days
Granted (in shares)	453,453		100,624
Total unrecognized compensation expense (in Dollars)	$ 2,819,000
Performance Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average remaining vesting period over which compensation expense is expected to be recognized	2 years 2 months 12 days
Granted (in shares)	269,935	[1]	585,583
Total unrecognized compensation expense (in Dollars)	$ 2,248,000
Expected life in years	3 years		3 years
Number of trading days	30 days		30 days
Market capitalization (in Dollars)	$ 600,000,000
Tranche One [Member] | Performance Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock price (in Dollars per share)			$ 10
Percentage of vesting of award			33%
Tranche Two [Member] | Performance Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock price (in Dollars per share)			$ 15
Percentage of vesting of award			33%
Tranche Three [Member] | Performance Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock price (in Dollars per share)			$ 20
Percentage of vesting of award			33%
Minimum [Member] | Performance Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Awards vesting target percentage	0%
Minimum [Member] | Tranche Three [Member] | Performance Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock price (in Dollars per share)			$ 17.5
Eligible vesting percentage for recipients			50%
Maximum [Member] | Performance Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Awards vesting target percentage	150%
Maximum [Member] | Tranche Three [Member] | Performance Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock price (in Dollars per share)			$ 25
Eligible vesting percentage for recipients			150%
Fiscal Year 2025 Grants [Member] | Performance Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted (in shares)	258,983
June 2021 Grants [Member] | Performance Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted (in shares)	10,952
[1]Granted includes 10,952 additional PSUs issued in connection with the vesting of the Company’s June 2021 PSU grant based on actual Company performance metrics exceeding target performance levels.

Share-based Payments - Assumpti

Share-based Payments - Assumptions Used to Derive Weighted Average Fair Value of Stock Options Granted (Details) - Stock Options [Member]	9 Months Ended
	Dec. 31, 2023 $ / shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average risk free interest rate	4.53%
Weighted average expected holding period (years)	6 years 6 months 25 days
Weighted average expected volatility	51.29%
Weighted average expected dividend yield	0%
Weighted average fair value of options granted (in Dollars per share)	$ 3.75

Share-based Payments - Stock Op

Share-based Payments - Stock Option Transactions (Details) - Stock Options [Member]	9 Months Ended
	Dec. 31, 2024 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding at beginning of period (in shares) | shares	1,108,017
Outstanding at beginning of period | $ / shares	$ 20.29
Granted (in shares) | shares	0
Granted | $ / shares	$ 0
Exercised (in shares) | shares	0
Exercised | $ / shares	$ 0
Forfeited/Cancelled (in shares) | shares	(17,723)
Forfeited/Cancelled | $ / shares	$ 20.13
Expired (in shares) | shares	(36,733)
Expired | $ / shares	$ 22.93
Outstanding at end of period (in shares) | shares	1,053,561
Outstanding at end of period | $ / shares	$ 20.2

Share-based Payments - Restrict

Share-based Payments - Restricted Stock Units Activity (Details) - Restricted Stock [Member] - $ / shares	9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Non-vested at beginning of period (in shares)	240,923
Non-vested at beginning of period	$ 12.23
Granted (in shares)	453,453	100,624
Granted	$ 6.58
Vested (in shares)	(184,850)
Vested	$ 12.02
Forfeited/Cancelled (in shares)	(4,069)
Forfeited/Cancelled	$ 8.72
Non-vested at end of period (in shares)	505,457
Non-vested at end of period	$ 7.26

Share-based Payments - Monte Ca

Share-based Payments - Monte Carlo Valuation Model Assumptions Used in Determining Fair Value of TSR Awards (Details) - Performance Stock Units [Member] - $ / shares	9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected life in years	3 years
Average correlation coefficient of peer companies		0%
Expected dividend yield	0%	0%
Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk free interest rate	4.21%	4.32%
Expected life in years		2 months 12 days
Expected volatility of the Company's common stock	59.80%	54.20%
Average correlation coefficient of peer companies	16.50%
Grant date fair value (in Dollars per share)	$ 8.65	$ 3.57
Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk free interest rate	4.45%	4.35%
Expected life in years		1 year 9 months 18 days
Expected volatility of the Company's common stock	62.80%	55.10%
Average correlation coefficient of peer companies	17.40%
Grant date fair value (in Dollars per share)	$ 8.88	$ 8.37

Share-based Payments - Performa

Share-based Payments - Performance Stock Units Activity (Details) - Performance Shares [Member] - $ / shares		9 Months Ended
		Dec. 31, 2024		Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Non-vested at beginning of period (in shares)		773,923
Non-vested at beginning of period		$ 7.73
Granted (in shares)		269,935	[1]	585,583
Granted	[1]	$ 8.74
Vested (in shares)		(32,848)
Vested		$ 22.27
Forfeited/Cancelled (in shares)		(53,299)
Forfeited/Cancelled		$ 22.89
Non-vested at end of period (in shares)		957,711
Non-vested at end of period		$ 6.83
[1]Granted includes 10,952 additional PSUs issued in connection with the vesting of the Company’s June 2021 PSU grant based on actual Company performance metrics exceeding target performance levels.

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($)	Dec. 31, 2024	Sep. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Mar. 31, 2023
Product Warranty Liability [Line Items]
Total warranty return accrual	$ 19,375,000	$ 16,649,000	$ 19,326,000	$ 16,130,000	$ 16,197,000	$ 19,830,000
Customer Returns RGA Issued [Member]
Product Warranty Liability [Line Items]
Total warranty return accrual	4,840,000		5,667,000
Customer Finished Goods Returns Accrual [Member]
Product Warranty Liability [Line Items]
Total warranty return accrual	$ 14,535,000		$ 13,659,000

Commitments and Contingencies -

Commitments and Contingencies - Commitments and Contingencies (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Change in warranty returns [Roll Forward]
Balance at beginning of period	$ 16,649,000	$ 16,197,000	$ 19,326,000	$ 19,830,000
Charged to expense	38,116,000	34,532,000	113,212,000	102,666,000
Amounts processed	(35,390,000)	(34,599,000)	(113,163,000)	(106,366,000)
Balance at end of period	$ 19,375,000	$ 16,130,000	$ 19,375,000	$ 16,130,000

Segment Information (Details)

Segment Information (Details)	3 Months Ended		9 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2024 USD ($) Segment	Dec. 31, 2023 USD ($)
Selected Financial Data [Abstract]
Number of operating segments (in Segment) | Segment			3
Foreign exchange impact of lease liabilities and forward contracts | $	$ (2,460,000)	$ 3,149,000	$ (18,966,000)	$ 2,659,000

Segment Information - Financial

Segment Information - Financial Information Relating to Segments (Details) - USD ($)		3 Months Ended		9 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Mar. 31, 2024
Segment Reporting Information [Line Items]
Net sales		$ 186,176,000	$ 171,862,000	$ 564,249,000	$ 528,206,000
Operating income (loss)		17,581,000	9,524,000	23,645,000	33,902,000
Interest expense, net		(14,435,000)	(18,297,000)	(43,004,000)	(45,400,000)
Change in fair value of compound net derivative liability		260,000	(1,160,000)	2,460,000	(1,690,000)
Loss on extinguishment of debt		0	0	0	(168,000)
Total consolidated income (loss) before income tax expense		3,406,000	(9,933,000)	(16,899,000)	(13,356,000)
Segment assets		949,508,000		949,508,000		$ 1,012,002,000
Intersegment Sales [Member]
Segment Reporting Information [Line Items]
Net sales		566,000	358,000	1,634,000	691,000
Operating income (loss)		27,000	4,000	74,000	52,000
Segment assets		(68,202,000)		(68,202,000)		(62,755,000)
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating income (loss)		17,554,000	9,520,000	23,571,000	33,850,000
Depreciation and amortization		2,532,000	2,878,000	7,862,000	8,844,000
Segment assets		1,017,710,000	1,057,435,000	1,017,710,000	1,057,435,000
Capital expenditures		669,000	293,000	1,716,000	462,000
Hard Parts [Member]
Segment Reporting Information [Line Items]
Net sales		174,548,000	161,254,000	527,412,000	495,422,000
Hard Parts [Member] | Intersegment Sales [Member]
Segment Reporting Information [Line Items]
Net sales		344,000	242,000	840,000	442,000
Hard Parts [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales		174,892,000	161,496,000	528,252,000	495,864,000
Operating income (loss)	[1]	19,069,000	9,993,000	23,893,000	36,702,000
Depreciation and amortization		2,321,000	2,557,000	7,247,000	7,825,000
Segment assets		962,855,000	1,005,470,000	962,855,000	1,005,470,000	1,019,811,000
Capital expenditures		601,000	221,000	1,402,000	352,000
All Other [Member]
Segment Reporting Information [Line Items]
Net sales		11,628,000	10,608,000	36,837,000	32,784,000
All Other [Member] | Intersegment Sales [Member]
Segment Reporting Information [Line Items]
Net sales		222,000	116,000	794,000	249,000
All Other [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales		11,850,000	10,724,000	37,631,000	33,033,000
Operating income (loss)		(1,515,000)	(473,000)	(322,000)	(2,852,000)
Depreciation and amortization		211,000	321,000	615,000	1,019,000
Segment assets		54,855,000	51,965,000	54,855,000	51,965,000	$ 54,946,000
Capital expenditures		$ 68,000	$ 72,000	$ 314,000	$ 110,000
[1]Operating income for the Company’s Hard Parts segment includes the foreign exchange impact of lease liabilities and forward contracts, which were a loss of $2,460,000 and a gain of $3,149,000 for the three months ended December 31, 2024 and 2023, respectively, and a loss of $18,966,000 and a gain of $2,659,000, for the nine months ended December 31, 2024 and 2023, respectively.

Share Repurchases (Details)

Share Repurchases (Details) - Common Stock [Member] - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Aug. 31, 2018
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, approved amount (in Dollars)		$ 37,000,000		$ 37,000,000	$ 20,000,000
Repurchase of shares (in shares)	268,130	0	2,096,000	0
Shares utilized, amount (in Dollars)			$ 20,841,000
Shares available for repurchase, amount (in Dollars)	$ 16,159,000		$ 16,159,000
Shares repurchased and retired (in shares)			1,105,137

Related Party Transactions (Det

Related Party Transactions (Details) - Manufacturing Facility [Member] - Company Co-owned by Member of Management [Member]	1 Months Ended	3 Months Ended		9 Months Ended
	Feb. 28, 2025 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) ft²
Related Party Transaction [Line Items]
Area of facility (in Square Feet) | ft²						35,000
Initial lease term		1 year		1 year
Base rent						$ 27,000
Lease renewal term		4 years		4 years
Lease additional renewal term				1 year
Rent expenses		$ 81,000	$ 81,000	$ 243,000	$ 243,000
Subsequent Event [Member]
Related Party Transaction [Line Items]
Base rent	$ 30,000
Subsequent Event [Member]
Related Party Transaction [Line Items]
Lease second extension term	3 years