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Concentrations of Risk
6 Months Ended
Sep. 30, 2025
Risks and Uncertainties [Abstract]  
Concentrations of Risk Concentrations of Risk
Our revenues are concentrated in the area of OTC Healthcare. We sell our products to mass merchandisers, drug, food, dollar, convenience and club stores and e-commerce channels. During each of the three and six months ended September 30, 2025, approximately 37% and 38%, respectively, of our gross revenues were derived from our five top selling brands. During the three and six months ended September 30, 2024, approximately 37% and 38%, respectively, of our gross revenues were derived from our five top selling brands. Walmart accounted for approximately 20% and 21%, respectively, of our gross revenues for the three and six months ended September 30, 2025. Walmart accounted for approximately 19% and 20%, respectively, of our gross revenues for the three and six months ended September 30, 2024. Amazon accounted for approximately 13% and 12%, respectively, of our gross revenues for the three and six months ended September 30, 2025. Amazon accounted for approximately 12% and 13%, respectively, of our gross revenues for the three and six months ended September 30, 2024.

Our product distribution in the United States is managed by a third-party through one primary distribution center in Clayton, Indiana. We operate a mix and fill manufacturing facility in Lynchburg, Virginia and a powder manufacturing facility in Victoria, Australia. A natural disaster, such as tornado, earthquake, flood, or fire at our distribution center or our own or a third-party manufacturing facility could damage our inventory and/or materially impair our ability to distribute our products to customers in a timely manner or at a reasonable cost. In addition, a serious disruption caused by performance or contractual issues with our third-party distribution manager, or labor shortages or contagious disease outbreaks or other public health emergencies at our distribution center or manufacturing facilities could also materially impact our product distribution. Any disruption could result in increased costs, expense and/or shipping times, and could harm our reputation and cause us to incur customer fees and penalties. We could also incur significantly higher costs and experience longer lead times should we be required to replace our distribution center, the third-party distribution manager or the manufacturing facilities. As a result, any serious disruption could have a material adverse effect on our business, financial condition and results of operations.

At September 30, 2025, we had relationships with 101 third-party manufacturers.  Of those, we had long-term contracts with 17 manufacturers that produced items that accounted for approximately 57% of gross sales for the six months ended September 30, 2025. At September 30, 2024, we had relationships with 107 third-party manufacturers.  Of those, we had long-term contracts
with 28 manufacturers that produced items that accounted for approximately 76% of gross sales for the six months ended September 30, 2024. One of our suppliers, a privately owned pharmaceutical manufacturer with whom we have a long-term supply agreement, produced products that accounted for approximately 22% of our gross revenues for the six months ended September 30, 2025 and 23% of gross revenues for the six months ended September 30, 2024, while we accounted for a significant portion of their gross revenues over both those time periods. No other single third-party supplier produces products that account for 10% or more of our gross revenues. The fact that we do not have long-term contracts with certain manufacturers means that they could cease manufacturing our products at any time and for any reason or initiate arbitrary and costly price increases, which could have a material adverse effect on our business and results of operations. Although we are continually in the process of negotiating long-term contracts with certain key manufacturers, we may not be able to reach a timely agreement, which could have a material adverse effect on our business and results of operations.