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Income Taxes (Tables)

12 Months Ended

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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- References

No definition available.

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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

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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

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