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Note 10 - Intangible Assets
 12 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Intangible Assets Disclosure [Text Block]

10. Intangible Assets

 

Intangible assets at  March 31, 2025 and 2024 consisted of the following (in thousands):

 

  

2025

  

2024

    
  

Gross Amount

  

Accumulated Amortization

  

Net Book Value

  

Gross Amount

  

Accumulated Amortization

  

Net Book Value

  

Estimated Useful Life

 

Backlog

  1,381   (1,381)  —   681   (681)  -  2 

Trade names and trademarks

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

Indefinite

 

Customer relationships

  10,880   (7,901)  2,980   9,600   (6,649)  2,951  7-10 

Core technology and know-how

  5,970   (4,834)  1,136   5,970   (4,352)  1,618  5-10 

Intangible assets

 $20,031  $(14,116) $5,916  $18,051  $(11,682) $6,369    

 

The Company recorded intangible amortization expense of $2.4 million and $2.2 million, for the fiscal years ended March 31, 2025 and 2024, respectively. Included in the current period is $0.7 million related to intangible amortization related to backlog that is reported in cost of revenues for the fiscal year ended March 31, 2025 and less than $0.1 million for the fiscal year ended March 31, 2024.

 

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

 

Fiscal years ending March 31,

 

Total

 

2026

 $1,349 

2027

  1,213 

2028

  671 

2029

  201 

2030

  128 

Thereafter

  554 

Total

 $4,116 

 

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