FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Sep. 30, 2024

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


As of September 30, 2024	Amortized Costs		Gross Unrealized Gain		Gross Unrealized Loss		Estimated Fair Value		Cash and Cash Equivalents		Restricted Cash (Current)		Short-Term Investments
Cash	$	89,771	$	—	$	—	$	89,771	$	89,771	$	—	$	—
Level 1:
Money market funds	28,096		—		—		28,096		27,634		462		—




Total assets	$	117,867	$	—	$	—	$	117,867	$	117,405	$	462	$	—


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

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 8, Convertible Senior Notes and Term Loan) that are measured at fair value and categorized within Level 3 as of September 30, 2024 and March 31, 2024 (dollars in thousands):


	September 30, 2024			March 31, 2024
Estimated fair value of detachable warrants	$	1,311		$	3,321
Unobservable inputs:
Stock volatility	76.3		%	87.2		%
Risk-free rate	3.6		%	4.3		%
Expected term	2.9 years			3.4 years