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Note 9 - Inventory
6 Months Ended
Sep. 30, 2024
Notes to Financial Statements  
Inventory Disclosure [Text Block]

9. Inventory

 

Inventory, net of reserves, at  September 30, 2024 and  March 31, 2024 consisted of the following (in thousands):

 

  

September 30, 2024

  

March 31, 2024

 

Raw materials

 $37,336  $20,622 

Work-in-process

  23,819   14,872 

Finished goods

  4,877   3,840 

Deferred program costs

  4,848   2,523 

Net inventory

 $70,880  $41,857 

 

The Company recorded inventory write-downs of $0.3 million and $0.7 million for the three months ended September 30, 2024 and 2023, respectively. The Company recorded inventory write-downs of $0.8 million and $1.1 million for the six months ended September 30, 2024 and 2023, respectively. These write-downs were based on the Company's evaluation of its inventory on hand for excess quantities and obsolescence.

 

Deferred program costs as of  September 30, 2024 and  March 31, 2024 primarily represent costs incurred on programs where the Company needs to complete performance obligations before the related revenue and costs will be recognized.