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Note 10 - Intangible Assets
 12 Months Ended
Mar. 31, 2024
Notes to Financial Statements  
Intangible Assets Disclosure [Text Block]

10. Intangible Assets

 

Intangible assets at  March 31, 2024 and 2023 consisted of the following (in thousands):

 

  

2024

  

2023

     
  

Gross Amount

  

Accumulated Amortization

  

Net Book Value

  

Gross Amount

  

Accumulated Amortization

  

Net Book Value

  

Estimated Useful Life

 

Backlog

  681   (681)  —   681   (675)  6   2 

Trade names and trademarks

  1,800   —   1,800   1,800   —   1,800   Indefinite 

Customer relationships

  9,600   (6,649)  2,951   9,600   (4,980)  4,620   7 

Core technology and know-how

  5,970   (4,352)  1,618   5,970   (3,869)  2,101   5-10 

Intangible assets

 $18,051  $(11,682) $6,369  $18,051  $(9,524) $8,527     

 

The Company recorded intangible amortization expense of $2.2 million and $2.8 million, for the fiscal years ended March 31, 2024 and 2023, respectively. Additionally, the Company recorded less than $0.1 million related to intangible amortization related to backlog that is reported in cost of revenues for both the fiscal years ended March 31, 2024 and 2023.

 

Expected future amortization expense related to intangible assets is as follows (in thousands):

 

Fiscal years ending March 31,

 

Total

 

2025

 $1,648 

2026

  1,221 

2027

  1,085 

2028

  543 

2029

  72 

Total

 $4,569 

 

The Company's intangible assets relate entirely to the Grid business segment operations in the United States.