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Income taxes (Tables) | 12 Months Ended
--- | ---
Mar. 31, 2024
Disclosure Of Income Tax [Abstract] |
Income tax expense (recovery) | Income tax expense (recovery) includes the following components:
| 2024 | 2023
| $ | $
Current |  |
Related to current year | 2,704 |  | 2,880 |
Related to prior years | 1,095 |  | (411) |
| 3,799 |  | 2,469 |
Deferred |  |
Related to current year | (317) |  | (6,338) |
Related to prior years | (6) |  | (350) |
| (323) |  | (6,688) |
Total income tax expense (recovery) | 3,476 |  | (4,219) |
The income tax expense (recovery) reported, which includes foreign taxes, differs from the amount of the income tax recovery computed by applying Canadian statutory rates as follows:
| 2024 | 2023
| $ | $
Loss before income taxes | (160,488) |  | (1,074,228) |
Statutory tax rate | 26.5 | % | 26.5 | %
Income tax recovery at the statutory tax rate | (42,529) |  | (284,671) |
Impact of rate differential of foreign jurisdiction | 8,303 |  | 9,944 |
Non-deductible share-based compensation and related costs | 14,048 |  | 33,771 |
Acquisition-related compensation and transaction-related costs | 575 |  | 1,267 |
Other non-deductible expenses and non-taxable amounts | 742 |  | 728 |
Adjustment related to prior years | 1,089 |  | (761) |
Goodwill impairment | — |  | 198,409 |
Changes in unrecognized benefits of deferred tax assets | 19,493 |  | 38,673 |
Impact of foreign exchange and other | 1,755 |  | (1,579) |
Total income tax expense (recovery) | 3,476 |  | (4,219) |
Deferred tax assets/liabilities | Significant components of the Company’s deferred tax assets and liabilities are as follows (the line "Other" in Deferred tax assets in the amount of $17,760 in the fiscal year ended March 31, 2023 included "Long-term incentive plan" and "Capitalized R&D costs" and has been broken down for comparative purposes):
| 2024 | 2023
Deferred tax assets | $ | $
Property and equipment | 3,924 |  | 3,179 |
Non-capital losses carried forward | 24,741 |  | 49,467 |
Lease liabilities | 5,657 |  | 6,045 |
Deferred revenue | 421 |  | 530 |
Interest expenses carried forward | — |  | 3,170 |
Long-term incentive plan | 8,844 |  | 6,211 |
Capitalized R&D costs | 12,535 |  | 7,542 |
Other | 1,570 |  | 4,007 |
Total deferred tax assets | 57,692 |  | 80,151 |
Deferred tax liabilities |  |
Property and equipment | (411) |  | (562) |
Intangible assets | (46,697) |  | (67,972) |
Lease right-of-use assets | (4,213) |  | (5,028) |
Other | (5,819) |  | (6,288) |
Total deferred tax liabilities | (57,140) |  | (79,850) |
Net deferred tax assets | 552 |  | 301 |
As presented on the consolidated balance sheets: |  |
Deferred tax assets | 552 |  | 301 |
Net deferred tax assets | 552 |  | 301 |
2024
| Balance as at March 31, 2023 | Charged (credited) to consolidated statement of loss | Charged (credited) to other comprehensive loss | Other | Balance as at March 31, 2024
| $ | $ | $ | $ | $
Deferred tax assets (liabilities) continuity |  |  |  |  |
Property and equipment | 2,617 |  | 896 |  | — |  | — |  | 3,513 |
Intangible assets | (67,972) |  | 21,275 |  | — |  | — |  | (46,697) |
Lease liabilities | 6,045 |  | (388) |  | — |  | — |  | 5,657 |
Lease right-of-use assets | (5,028) |  | 815 |  | — |  | — |  | (4,213) |
Non-capital losses carried forward | 49,467 |  | (24,726) |  | — |  | — |  | 24,741 |
Deferred revenue | 530 |  | (109) |  | — |  | — |  | 421 |
Interest expenses carried forward | 3,170 |  | (3,170) |  | — |  | — |  | — |
Long-term incentive plan | 6,211 |  | 2,633 |  | — |  | — |  | 8,844 |
Capitalized R&D costs | 7,542 |  | 4,993 |  | — |  | — |  | 12,535 |
Other | (2,281) |  | (1,896) |  | (68) |  | (4) |  | (4,249) |
Net deferred tax assets (liabilities) | 301 |  | 323 |  | (68) |  | (4) |  | 552 |
2023
| Balance as at March 31, 2022 | Charged (credited) to consolidated statement of loss | Charged (credited) to other comprehensive loss | Other | Balance as at March 31, 2023
| $ | $ | $ | $ | $
Deferred tax assets (liabilities) continuity |  |  |  |  |
Property and equipment | 2,103 |  | 514 |  | — |  | — |  | 2,617 |
Intangible assets | (97,647) |  | 29,675 |  | — |  | — |  | (67,972) |
Lease liabilities | 6,354 |  | (309) |  | — |  | — |  | 6,045 |
Lease right-of-use assets | (5,140) |  | 112 |  | — |  | — |  | (5,028) |
Non-capital losses carried forward | 78,292 |  | (28,825) |  | — |  | — |  | 49,467 |
Deferred revenue | 1,217 |  | (687) |  | — |  | — |  | 530 |
Interest expenses carried forward | 5,852 |  | (2,682) |  | — |  | — |  | 3,170 |
Long-term incentive plan | 4,702 |  | 1,509 |  | — |  | — |  | 6,211 |
Capitalized R&D costs | — |  | 7,542 |  | — |  | — |  | 7,542 |
Other | (2,412) |  | (161) |  | — |  | 292 |  | (2,281) |
Net deferred tax assets (liabilities) | (6,679) |  | 6,688 |  | — |  | 292 |  | 301 |
Non-capital loss carryforwards | The Company has accumulated unrecognized deductible temporary differences, unused tax losses and unrecognized research and development expenditures as follows:
| 2024 | 2023
| $ | $
Deductible temporary differences | 58,737 |  | 63,695 |
Non-capital losses | 676,756 |  | 587,407 |
Research and development expenditures | 12,207 |  | 21,760 |
| 747,700 |  | 672,862 |

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