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Unaudited Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues $ 65,862 $ 54,471 $ 138,220 $ 94,761
Cost of revenues 45,423 38,858 93,292 66,923
Gross margin 20,439 15,613 44,928 27,838
Operating expenses:        
Research and development 3,729 2,646 8,033 4,931
Selling, general and administrative 13,408 10,525 27,611 19,423
Amortization of acquisition-related intangibles 337 433 674 845
Change in fair value of contingent consideration 0 2,762 0 6,682
Total operating expenses 17,474 16,366 36,318 31,881
Operating income (loss) 2,965 [1] (753) [2] 8,610 [1] (4,043) [2]
Interest income, net 2,269 979 3,201 2,099
Other expense, net (367) (329) (21) (489)
Income (loss) before income tax expense (benefit) 4,867 (103) 11,790 (2,433)
Income tax expense (benefit) 117 (4,990) 316 (4,796)
Net income $ 4,750 $ 4,887 $ 11,474 $ 2,363
Net income per share of common stock        
Basic (in dollars per share) $ 0.11 $ 0.13 $ 0.28 $ 0.07
Diluted (in dollars per share) $ 0.11 $ 0.13 $ 0.27 $ 0.06
Weighted average number of shares of common stock outstanding        
Basic (in shares) 43,242 36,952 41,070 36,317
Diluted (in shares) 44,210 37,499 41,988 36,951
[1] The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.
[2] The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.