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Note 5 - Supplemental Information

6 Months Ended

Sep. 30, 2024

Supplemental Balance Sheet Disclosures [Text Block]

Note 5. Supplemental Information

Inventories consisted of the following:

	*September 30, 2024*		*March 31, 2024*
Raw materials	$	18,215	$	18,335
Work in process		366		1,256
Finished goods		11,157		13,084
Total inventories	$	29,738	$	32,675

Prepaid expenses and other current assets consisted of the following:

	*September 30, 2024*		*March 31, 2024*
Prepaid expenses	$	3,674	$	2,932
Deposits		1,666		1,898
Prepaid income taxes		4,407		1,237
Other current assets		3,922		3,341
Total prepaid expenses and other current assets	$	13,669	$	9,408

Accrued payroll and benefits consisted of the following:

	*September 30, 2024*		*March 31, 2024*
Bonus payable	$	4,224	$	3,838
Wages and paid-time-off payable		2,404		3,072
Payroll related taxes		2,029		1,956
Other benefits payable		528		1,069
Total accrued payroll and benefits	$	9,185	$	9,935

Other accrued expenses consisted of the following:

	*September 30, 2024*		*March 31, 2024*
Accrued business taxes	$	5,908	$	5,557
Current operating lease liabilities		3,488		2,986
Income taxes payable		1,386		1,615
Current acquisition-related holdbacks		9,891		436
Other		2,193		2,264
Total other accrued expenses	$	22,866	$	12,858

The increase in other accrued expenses is primarily due to the reclassification of the held back GKE acquisition-related consideration from noncurrent liabilities.

Other noncurrent liabilities consisted of the following:

	*September 30, 2024*		*March 31, 2024*
Noncurrent operating lease liabilities	$	14,385	$	6,613
Noncurrent acquisition-related holdbacks		160		8,792
Other		108		208
Total other noncurrent liabilities	$	14,653	$	15,613

The increase in operating lease liabilities is primarily attributable to new a new right-of-use leased facility associated with the manufacturing and administrative office facilities used by our Biopharmaceutical Development division in Uppsala, Sweden.

	*Three Months Ended September 30,*				*Six Months Ended September 30,*
	*2024*		*2023*		*2024*		*2023*
Depreciation expense in cost of revenues	$	904	$	655	$	1,766	$	1,329
Depreciation expense in operating expense		614		256		1,156		496
Total depreciation expense	$	1,518	$	911	$	2,922	$	1,825

The increase in depreciation expense for the three and six months ended September 30, 2024 is primarily due to GKE's operations, which included $321 and $625 of depreciation expense, respectively.