XML 60 R37.htm IDEA: XBRL DOCUMENT
v3.25.2

INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Mar. 31, 2025
Income Tax Disclosure [Abstract] |
Schedule of pre-tax income (loss) | Pre-tax loss reflected in the consolidated statements of operations for the years ended March 31, 2025 and 2024 is as follows (in thousands):
| Year Ended March 31,
| 2025 |  | 2024 |  |
U.S. | $ | (112,416) |  |  | $ | (40,555) |  |  |
Foreign | (1,854) |  |  | (20) |  |  |
Total | $ | (114,270) |  |  | $ | (40,575) |  |  |
Schedule of income tax provision | Income tax provision consists of the following (in thousands):
| Year Ended March 31,
| 2025 |  | 2024 |  |
Current tax expense |  |  |  |  |
Federal | $ | — |  |  | $ | — |  |  |
State | 36 |  |  | 14 |  |  |
Foreign | 741 |  |  | 919 |  |  |
Total current tax expense | 777 |  |  | 933 |  |  |
Deferred tax expense |  |  |  |  |
Federal | 20 |  |  | 18 |  |  |
State | 37 |  |  | 21 |  |  |
Foreign | (13) |  |  | (261) |  |  |
Total deferred tax expense (benefit) | 44 |  |  | (222) |  |  |
Income tax provision | $ | 821 |  |  | $ | 711 |  |  |
Schedule of federal income tax rate reconciliation | The income tax provision differs from the amount computed by applying the federal statutory rate of 21% to loss before income taxes as follows (in thousands):
| For the year ended March 31,
| 2025 |  | 2024 |  |
Expense (benefit) at the federal statutory rate | $ | (24,122) |  |  | $ | (8,507) |  |  |
Equity compensation | 580 |  |  | 1,102 |  |  |
Permanent items | 309 |  |  | 768 |  |  |
Foreign taxes | 299 |  |  | 264 |  |  |
State income taxes | 36 |  |  | (860) |  |  |
Valuation allowance | 13,907 |  |  | 6,313 |  |  |
Uncertain tax positions | (6,672) |  |  | (8,010) |  |  |
Expiration of attributes | 8,427 |  |  | 10,901 |  |  |
Research and development credits | (844) |  |  | (1,169) |  |  |
Warrant fair value adjustments | 9,507 |  |  | (1,093) |  |  |
Other | (606) |  |  | 1,002 |  |  |
Income tax provision | $ | 821 |  |  | $ | 711 |  |  |
Schedule of components of deferred tax assets and liabilities | Significant components of deferred tax assets and liabilities are as follows (in thousands):
| As of March 31,
| 2025 |  | 2024 |  |
Deferred tax assets |  |  |  |  |
Loss carryforwards | $ | 61,466 |  |  | $ | 54,280 |  |  |
Deferred revenue | 25,895 |  |  | 27,431 |  |  |
Capitalized research and development | 28,824 |  |  | 27,785 |  |  |
Tax credits | 15,517 |  |  | 15,888 |  |  |
Disallowed interest | 19,696 |  |  | 16,572 |  |  |
Other accruals and reserves not currently deductible for tax purposes | 3,913 |  |  | 4,685 |  |  |
Lease obligations | 2,016 |  |  | 2,269 |  |  |
Inventory | 3,779 |  |  | 2,426 |  |  |
Acquired intangibles | 1,285 |  |  | 1,344 |  |  |
Accrued warranty expense | 277 |  |  | 365 |  |  |
Depreciation | 1,755 |  |  | — |  |  |
Gross deferred tax assets | 164,423 |  |  | 153,045 |  |  |
Valuation allowance | (161,730) |  |  | (147,674) |  |  |
Total deferred tax assets, net of valuation allowance | $ | 2,693 |  |  | $ | 5,371 |  |  |
Deferred tax liabilities |  |  |  |  |
Depreciation | $ | — |  |  | $ | (2,038) |  |  |
Lease assets | (1,711) |  |  | (1,929) |  |  |
Other | (277) |  |  | (1,130) |  |  |
Total deferred tax liabilities | (1,988) |  |  | (5,097) |  |  |
Net deferred tax assets (liabilities) | $ | 705 |  |  | $ | 274 |  |  |
Reconciliation of gross unrecognized tax benefits | A reconciliation of the gross unrecognized tax benefits is as follows (in thousands):
| For the year ended March 31,
| 2025 |  | 2024 |  |
Beginning Balance | $ | 88,341 |  |  | $ | 96,343 |  |  |
Increase in balances related to tax positions in current period | 1,558 |  |  | 2,229 |  |  |
Decrease in balances related to tax positions in prior period | (12) |  |  | (1,364) |  |  |
Decrease in balances due to lapse in statute of limitations | (8,209) |  |  | (8,867) |  |  |
Ending balance | $ | 81,678 |  |  | $ | 88,341 |  |  |

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

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration