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Note 4 - Supplemental Balance Sheets Information

9 Months Ended

Dec. 31, 2021

Note 4. Supplemental Balance Sheets Information

Inventories consist of the following:

	*December 31, 2021*		*March 31, 2021*
Raw materials	$	13,962	$	5,755
Work in process		1,956		426
Finished goods		7,801		4,997
Inventories, net	$	23,719	$	11,178

As of December 31, 2021, $11,560 of the total inventory on hand was acquired as part of the Agena Acquisition and is attributable to the Clinical Genomics division. Finished goods inventory of Agena included $6,062 of inventory step-up as of October 20, 2021, which was required to report inventory at fair value at the time of acquisition. The inventory step-up was amortized to cost of revenues over approximately two months following the acquisition date, which resulted in a temporary reduction in gross profit for the Clinical Genomics division and the consolidated financial results. We fully amortized the $6,062 inventory step-up to costs of revenues on the Consolidated Statement of Operations during the period from October 20, 2021 to December 31, 2021.

Other accrued expenses consist of the following:

	*December 31, 2021*		*March 31, 2021*
Accrued business taxes	$	6,289	$	6,397
Current operating lease liabilities		2,733		1,023
Interest payable		918		303
Warranty		606		253
Accrued professional services		547		473
Other		1,394		1,496
Total other accrued expenses	$	12,487	$	9,945

As of December 31, 2021 and March 31, 2021, operating lease right-of-use assets where we are the lessee were $10,785 and $1,930, respectively, and are included within other assets in the accompanying Condensed Consolidated Balance Sheets. The associated operating lease liabilities were $10,604 and $1,700 as of December 31, 2021 and March 31, 2021, respectively, and are included in other accrued expenses and other long-term liabilities. The increased balances are due to the acquisition of Agena.