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Note 5 - Supplemental Information

9 Months Ended

Dec. 31, 2024

Supplemental Balance Sheet Disclosures [Text Block]

Note 5. Supplemental Information

Inventories consisted of the following:

	*December 31, 2024*		*March 31, 2024*
Raw materials	$	16,584	$	18,335
Work in process		400		1,256
Finished goods		11,138		13,084
Total inventories	$	28,122	$	32,675

Prepaid expenses and other current assets consisted of the following:

	*December 31, 2024*		*March 31, 2024*
Prepaid expenses	$	3,251	$	2,932
Deposits		1,338		1,898
Prepaid income taxes		5,682		1,237
Other current assets		2,849		3,341
Total prepaid expenses and other current assets	$	13,120	$	9,408

Accrued payroll and benefits consisted of the following:

	*December 31, 2024*		*March 31, 2024*
Bonus payable	$	7,803	$	3,838
Wages and paid-time-off payable		3,600		3,072
Payroll related taxes		1,954		1,956
Other benefits payable		562		1,069
Total accrued payroll and benefits	$	13,919	$	9,935

The increase in bonus payable is primarily due to our financial performance in fiscal year 2025 compared to fiscal year 2024.

Other accrued expenses consisted of the following:

	*December 31, 2024*		*March 31, 2024*
Accrued business taxes	$	5,505	$	5,557
Current operating lease liabilities		3,535		2,986
Income taxes payable		1,364		1,615
Current acquisition-related holdbacks		9,531		436
Other		2,416		2,264
Total other accrued expenses	$	22,351	$	12,858

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

Other noncurrent liabilities consisted of the following:

	*December 31, 2024*		*March 31, 2024*
Noncurrent operating lease liabilities	$	12,361	$	6,613
Noncurrent acquisition-related holdbacks		-		8,792
Other		92		208
Total other noncurrent liabilities	$	12,453	$	15,613

The increase in operating lease liabilities is primarily attributable to the right of use asset associated with an operating lease for a facility used by our Biopharmaceutical Development for manufacturing and administrative purposes.

	*Three Months Ended December 31,*				*Nine Months Ended December 31,*
	*2024*		*2023*		*2024*		*2023*
Depreciation expense in cost of revenues	$	610	$	788	$	2,376	$	2,117
Depreciation expense in operating expense		496		286		1,652		782
Total depreciation expense	$	1,106	$	1,074	$	4,028	$	2,899

The increase in depreciation expense for the three and nine months ended December 31, 2024 is primarily due to GKE's operations, which included $225 and $850 of depreciation expense, respectively.