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Note 11 - Commitments and Contingencies
9 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Commitments and Contingencies Disclosure [Text Block]

Note 11. Commitments and Contingencies

 

We review the adequacy of our legal reserves on a quarterly basis and establish reserves for loss contingencies that are both probable and reasonably estimable. As of December 31, 2023, there were no material legal reserves recorded on the accompanying unaudited Condensed Consolidated Balance Sheets.

 

As part of the Belyntic acquisition, we have agreed to pay $1,500 to the sellers if contractually specified patents are issued. During the three months ending December 31, 2023, a subset of the patents was issued by the European Patent Office and we remitted $188 to the Belyntic sellers. An additional subset of the patents was issued in January 2024, for which we will pay the Belyntic sellers an additional $563 during the fourth quarter of fiscal year 2024. We believe it is probable the remaining patents will be issued and we will pay the sellers in full within the next 12 months. 

 

As part of the GKE acquisition consummated during the three months ended December 31, 2023, we have agreed to pay the GKE sellers approximately $9,500 of the acquisition price approximately 18 months following the acquisition date, pending adjustments for potential indemnification losses that may arise. The liability is recorded as in Other long-term liabilities in our Condensed Consolidated Balance Sheets as of December 31, 2023.