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Income taxes (Tables) | 12 Months Ended
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Mar. 31, 2021
Income taxes |
Schedule of net loss before income taxes |
|  | Year Ended March 31,
|  | 2021 |  | 2020
United States |  |  | (22,775) |  |  | (12,963)
Foreign (United Kingdom) |  |  | (58,095) |  |  | (39,662)
Total |  |  | (80,870) |  |  | (52,625)
Schedule of reconciliation of the U.S federal statutory income tax rate |
|  | Year Ended March 31, |
|  | 2021 |  | 2020 |
U.S. Federal statutory income tax rate |  | (21.0) | % | (21.0) | %
State taxes, net of federal benefit |  | (2.4) | % | (1.6) | %
Research and development credits |  | (0.8) | % | 0 | %
Research and development expenses |  | 1.9 | % | 2.2 | %
Return to provision |  | 0 | % | 1.9 | %
Stock compensation |  | (3.9) | % | 0 | %
Foreign tax rate differential |  | 0.0 | % | 2.8 | %
Change in valuation allowance |  | 25.9 | % | 16.0 | %
Other |  | 0.3 | % | (0.3) | %
|  | 0.0 | % | 0.00 | %
Schedule of components of deferred tax assets and liabilities |
|  | Year Ended March 31,
|  | 2021 |  | 2020
Deferred tax assets |  |  |  |  |  |
Federal net operating loss carryforwards |  |  | 7,083 |  |  | 2,450
Foreign net operating loss carryforwards |  |  | 22,195 |  |  | 9,092
State net operating loss carryforwards |  |  | 2,358 |  |  | 1,054
Research & development credits |  |  | 787 |  |  | —
Property, plant and equipment |  |  | 5,068 |  |  | 5,499
Capitalized start-up costs |  |  | 1,597 |  |  | 1,748
Stock compensation |  |  | 4,838 |  |  | 2,526
Accrued expense |  |  | 739 |  |  | 341
Lease liability |  |  | 8,462 |  |  | 8,705
Total deferred tax assets |  |  | 53,127 |  |  | 31,415
Deferred tax liabilities |  |  |  |  |  |
Right of Use Asset |  |  | (13,090) |  |  | (13,998)
Other |  |  | (9) |  |  | (88)
Total deferred tax liabilities |  |  | (13,099) |  |  | (14,086)
Valuation Allowance |  |  | (40,028) |  |  | (17,329)
Net deferred tax assets |  |  | — |  |  | —
Schedule of changes in the valuation allowance for deferred tax assets |
|  | Year Ended March 31,
|  | 2021 |  | 2020
Valuation allowance as of beginning of year |  | $ | 17,329 |  | $ | 9,396
Increases recorded to income tax provision |  |  | 22,624 |  | $ | 8,047
Increases recorded to income tax provision for equity |  | $ | 76 |  | $ | —
Decreases recorded to income tax provision for equity |  | $ | — |  | $ | (114)
Valuation allowance as of end of year |  |  | 40,028 |  | $ | 17,329

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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
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