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Income Taxes (Tables) | 12 Months Ended
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Mar. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of Reconciliation of Effective Income Tax Rate | A reconciliation of the Company’s effective tax rate to the United States federal income tax rate is as follows:
| March 31,
| 2022 |  | 2021 |  | 2020
Federal statutory rate | 21.0 | % |  | 21.00 | % |  | 21.00 | %
Permanent differences | (1.51) |  |  | (2.29) |  |  | (0.88) |
State taxes, net of federal benefits | 8.85 |  |  | 3.12 |  |  | 1.73 |
Change in valuation allowance | (42.85) |  |  | (18.26) |  |  | (22.79) |
Interest expense | (1.33) |  |  | — |  |  | — |
Warrant mark-to-market | 10.11 |  |  | — |  |  | — |
Stock compensation | 5.64 |  |  | (1.02) |  |  | — |
Other deferred adjustments | 0.09 |  |  | (2.55) |  |  | — |
Other | — |  |  | — |  |  | 0.94 |
Total | — | % |  | — | % |  | — | %
Schedule of Deferred Taxes | The components of the Company’s deferred taxes are as follows (in thousands):
| As of March 31,
| 2022 |  | 2021
Deferred tax assets: |  |  |
Net operating loss carryforwards | $ | 45,807 |  |  | $ | 24,960 |
Charitable contributions | 723 |  |  | 155 |
Interest expense | 3,599 |  |  | 3,330 |
Lease Liabilities | 9,259 |  |  | — |
UNICAP | 6,340 |  |  | 3,048 |
Stock compensation | 4,280 |  |  | 1,379 |
Accruals and other | 4,497 |  |  | 3,861 |
Total deferred tax assets | 74,505 |  |  | 36,733 |
Valuation allowance | (65,892) |  |  | (36,621) |
Net deferred tax assets | 8,613 |  |  | 112 |
Depreciation | (472) |  |  | (112) |
Lease Right-of-Use Asset | (8,141) |  |  | — |
Total deferred tax liabilities | (8,613) |  |  | (112) |
Net deferred tax assets | $ | — |  |  | $ | — |

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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=121826272&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=121826272&loc=d3e32687-109319 + Details
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