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FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value Measurements

Cash, cash equivalents, and available-for-sale investments were as follows (in thousands):

As of March 31, 2024						Amortized Costs						Gross Unrealized Gain						Gross Unrealized Loss						Estimated Fair Value						Cash and Cash Equivalents						Restricted Cash (Current & Non-current)						Short-Term Investments
Cash						$	53,943					$	—					$	—					$	53,943					$	53,943					$	—					$	—
Level 1:
Money market funds						37,633						—						—						37,633						37,172						461						—
Subtotal						91,576						—						—						91,576						91,115						461						—
Level 2:
Term deposit						25,147						—						—						25,147						25,147						—						—
Commercial paper						1,049						—						(1)						1,048						—						—						1,048
Subtotal						26,196						—						(1)						26,195						25,147						—						1,048
Total assets						$	117,772					$	—					$	(1)					$	117,771					$	116,262					$	461					$	1,048

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 Warrants (see Note 8, Convertible Senior Notes and Term Loan) that are measured at fair value and categorized within Level 3 as of March 31, 2024 and March 31, 2023 (dollars in thousands):

			March 31, 2024						March 31, 2023
Estimated fair value of detachable warrants			$	3,321					$	5,497
Unobservable inputs:
Stock volatility			87.2		%				67.2		%
Risk-free rate			4.3		%				3.6		%
Expected term			3.4 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
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-Name Accounting Standards Codification
-Topic 820
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-Section 50
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-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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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.

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