XML 36 R25.htm IDEA: XBRL DOCUMENT
v3.23.3

FAIR VALUE MEASUREMENTS (Tables) | 6 Months Ended
--- | ---
Sep. 30, 2023
Fair Value Disclosures [Abstract] |
Schedule of Fair Value Measurements | Cash, cash equivalents, and available-for-sale investments were as follows (in thousands):
As of September 30, 2023 |  | Amortized Costs |  | Gross Unrealized Gain |  | Gross Unrealized Loss |  | Estimated Fair Value |  | Cash and Cash Equivalents |  | Restricted Cash (Current & Non-current) |  | Short-Term Investments |  |
Cash |  | $ | 70,729 |  |  | $ | — |  |  | $ | — |  |  | $ | 70,729 |  |  | $ | 70,729 |  |  | $ | — |  |  | $ | — |  |  |
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | 64,070 |  |  | — |  |  | — |  |  | 64,070 |  |  | 63,087 |  |  | 983 |  |  | — |  |  |
Treasury securities |  | 599 |  |  | — |  |  | — |  |  | 599 |  |  | — |  |  | — |  |  | 599 |  |  |
Subtotal |  | 135,398 |  |  | — |  |  | — |  |  | 135,398 |  |  | 133,816 |  |  | 983 |  |  | 599 |  |  |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Term deposit |  | 10,214 |  |  | — |  |  | — |  |  | 10,214 |  |  | 10,214 |  |  | — |  |  | — |  |  |
Commercial paper |  | 4,146 |  |  | — |  |  | (1) |  |  | 4,145 |  |  | — |  |  |  |  | 4,145 |  |  |
Subtotal |  | 14,360 |  |  | — |  |  | (1) |  |  | 14,359 |  |  | 10,214 |  |  | — |  |  | 4,145 |  |  |
Total assets |  | $ | 149,758 |  |  | $ | — |  |  | $ | (1) |  |  | $ | 149,757 |  |  | $ | 144,030 |  |  | $ | 983 |  |  | $ | 4,744 |  |  |
As of March 31, 2023 |  | Amortized Costs |  | Gross Unrealized Gain |  | Gross Unrealized Loss |  | Estimated Fair Value |  | Cash and Cash Equivalents |  | Restricted Cash (Current & Non-current) |  | Short-Term Investments |  |
Cash |  | $ | 95,828 |  |  | $ | — |  |  | $ | — |  |  | $ | 95,828 |  |  | $ | 95,828 |  |  | $ | — |  |  | $ | — |  |  |
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | 8,935 |  |  | — |  |  | — |  |  | 8,935 |  |  | 8,935 |  |  | — |  |  | — |  |  |
Treasury securities |  | 1,599 |  |  | 4 |  |  | (1) |  |  | 1,602 |  |  | — |  |  | — |  |  | 1,602 |  |  |
Subtotal |  | 106,362 |  |  | 4 |  |  | (1) |  |  | 106,365 |  |  | 104,763 |  |  | — |  |  | 1,602 |  |  |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificate of deposit |  | 1,329 |  |  | — |  |  | — |  |  | 1,329 |  |  | — |  |  | 1,329 |  |  | — |  |  |
Commercial paper |  | 8,610 |  |  | — |  |  | (2) |  |  | 8,608 |  |  | 6,637 |  |  | — |  |  | 1,971 |  |  |
Corporate debt |  | 22,625 |  |  | 55 |  |  | (25) |  |  | 22,655 |  |  | — |  |  | — |  |  | 22,655 |  |  |
Subtotal |  | 32,564 |  |  | 55 |  |  | (27) |  |  | 32,592 |  |  | 6,637 |  |  | 1,329 |  |  | 24,626 |  |  |
Total assets |  | $ | 138,926 |  |  | $ | 59 |  |  | $ | (28) |  |  | $ | 138,957 |  |  | $ | 111,400 |  |  | $ | 1,329 |  |  | $ | 26,228 |  |  |
Summary of Assumptions Used in Determination of Fair Value | The following table presents additional information about valuation techniques and inputs used for the detachable warrants (see Note 6, Convertible Senior Notes and Term Loan) that are measured at fair value and categorized within Level 3 as of September 30, 2023 and March 31, 2023 (dollars in thousands):
| September 30, 2023 |  | March 31, 2023
Estimated fair value of detachable warrants | $ | 2,966 |  |  | $ | 5,497 |
Unobservable inputs: |  |  |
Stock volatility | 80.0% |  | 67.2%
Risk-free rate | 4.7% |  | 3.6%
Expected term | 3.9 years |  | 4.4 years

X
- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2C -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2C Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration