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Note 10 - Property, Plant and Equipment

9 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

10. Property, Plant and Equipment

The cost and accumulated depreciation of property, plant and equipment at December 31, 2025 and March 31, 2025 are as follows (in thousands):

		*December 31, 2025*				*March 31, 2025*
Land		$	37,059			$	22,650
Construction in progress – equipment			938				1,371
Buildings			29,854				7,528
Equipment and software			59,443				47,774
Furniture and fixtures			1,866				1,672
Leasehold improvements			8,334				7,969
Property, plant and equipment, gross			137,494				88,964
Less accumulated depreciation			(50,043	)			(50,392	)
Property, plant and equipment, net		$	87,451			$	38,572

Depreciation expense was $1.0 million and $0.9 million for the three months ended December 31, 2025 and 2024, respectively. Depreciation expense was $2.9 million and $2.3 million for the nine months ended December 31, 2025 and 2024, respectively. The increase in land, building, and equipment and software relates to the property added as part of the Comtrafo Acquisition.