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Note 12 - Contingent Consideration | 12 Months Ended
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Mar. 31, 2022
Notes to Financial Statements |
Business Combination, Contingent Consideration [Text Block] | 12. Contingent Consideration Contingent Consideration The Company evaluated the NEPSI Acquisition earnout payment set forth in the Stock Purchase Agreement (see Note 3, "Acquisitions" for further details), which may require settlement in the Company's common stock, and determined the contingent consideration qualified for liability classification and derivative treatment under ASC 815, Derivatives and Hedging. As a result, for each period, the fair value of the contingent consideration will be remeasured and the resulting gain or loss will be recognized in operating expenses until the share amount is fixed. The following is a summary of the key assumptions used in a Monte Carlo simulation to calculate the fair value of the contingent consideration related to the NEPSI Acquisition:
Fiscal Year 2021 |  | March 31, 2022 |  |  | December 31, 2021 |  |  | September 30, 2021 |  |  | June 30, 2021 |
Revenue risk premium |  |  | 6.50 | % |  |  | 6.60 | % |  |  | 6.60 | % |  |  | 6.60 | %
Revenue volatility |  |  | 33 | % |  |  | 33 | % |  |  | 30 | % |  |  | 30 | %
Stock Price |  | $ | 7.61 |  |  | $ | 10.88 |  |  | $ | 14.58 |  |  | $ | 17.39 |
Payment delay (days) |  |  | 80 |  |  |  | 80 |  |  |  | 80 |  |  |  | 80 |
Fair value (millions) |  | $ | 1.2 |  |  | $ | 2.6 |  |  | $ | 4.7 |  |  | $ | 7.2 |
Fiscal Year 2020 |  | March 31, 2021 |  |  | December 31, 2020 |  |  | October 1, 2020 |
Revenue risk premium |  |  | 6.70 | % |  |  | 6.90 | % |  |  | 7.10 | %
Revenue volatility |  |  | 30 | % |  |  | 30 | % |  |  | 30 | %
Stock Price |  | $ | 18.96 |  |  | $ | 23.42 |  |  | $ | 14.23 |
Payment delay (days) |  |  | 80 |  |  |  | 80 |  |  |  | - |
Fair value (millions) |  | $ | 7.1 |  |  | $ | 6.7 |  |  | $ | 4.0 |
The Company recorded a net gain of $5.9 million from the decrease in the fair value of the contingent consideration in the twelve months ended March 31, 2022. The change in the fair value of the Company's contingent consideration for the earnout payment on the NEPSI Acquisition resulted in a loss of $3.1 million in the year ended March 31, 2021.

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