XML 32 R12.htm IDEA: XBRL DOCUMENT
v3.24.4

BALANCE SHEET INFORMATION | 6 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 30, 2024 | Mar. 31, 2024
Balance Sheet Related Disclosures [Abstract] |  |
BALANCE SHEET INFORMATION | BALANCE SHEET INFORMATION Certain significant amounts included in the Company's condensed consolidated balance sheets consist of the following (in thousands): Manufacturing inventories
| September 30, 2024 |  | March 31, 2024
Finished goods | $ | 9,349 |  |  | $ | 7,074 |
Work in progress | 668 |  |  | 769 |
Raw materials | 8,948 |  |  | 9,910 |
Total manufacturing inventories | $ | 18,965 |  |  | $ | 17,753 |
Service parts inventories
| September 30, 2024 |  | March 31, 2024
Finished goods | $ | 6,300 |  |  | $ | 3,660 |
Component parts | 2,728 |  |  | 6,123 |
Total service parts inventories | $ | 9,028 |  |  | $ | 9,783 |
Intangibles, net
| September 30, 2024 |  | March 31, 2024
| Gross |  | Accumulated Amortization |  | Net |  | Gross |  | Accumulated Amortization |  | Net
Developed technology | $ | 9,013 |  |  | $ | (9,013) |  |  | $ | — |  |  | $ | 9,013 |  |  | $ | (8,550) |  |  | $ | 463 |
Customer lists | 4,398 |  |  | (3,656) |  |  | 742 |  |  | 4,398 |  |  | (3,192) |  |  | 1,206 |
Intangible assets, net | $ | 13,411 |  |  | $ | (12,669) |  |  | $ | 742 |  |  | $ | 13,411 |  |  | $ | (11,742) |  |  | $ | 1,669 |
Intangible assets amortization expense was $0.5 million and $1.0 million and $0.9 million and $2.1 million for the three and six months ended September 30, 2024 and 2023, respectively. As of September 30, 2024, the remaining weighted-average amortization period for definite-lived intangible assets was approximately 0.8 years. The Company recorded amortization of developed technology in cost of product revenue, and customer lists in sales and marketing expenses in the condensed consolidated statements of operations. As of September 30, 2024, the future expected amortization expense for intangible assets is as follows (in thousands):
Fiscal year ending |  | Estimated future amortization expense
Remainder of 2025 |  | $ | 461 |
2026 |  | 281 |
Total |  | $ | 742 |
Goodwill As of September 30, 2024 and March 31, 2024, goodwill was $13.0 million. There were no impairments to goodwill as of September 30, 2024 and March 31, 2024.
Other long-term assets |
| September 30, 2024 |  | March 31, 2024 |  |
Capitalized SaaS implementation costs for internal use | $ | 14,880 |  |  | $ | 15,349 |  |  |
Capitalized debt costs | 2,664 |  |  | 1,923 |  |  |
Contract asset | 1,357 |  |  | 1,477 |  |  |
Deferred taxes | 759 |  |  | 734 |  |  |
Other | 424 |  |  | 257 |  |  |
Total other long-term assets | $ | 20,084 |  |  | $ | 19,740 |  |  |
Other accrued liabilities |  |  |  |
| September 30, 2024 |  | March 31, 2024 |
Accrued expenses | $ | 6,646 |  |  | $ | 4,251 |  |
Asset retirement obligation | 2,769 |  |  | 2,069 |  |
Accrued warranty | 1,353 |  |  | 1,545 |  |
Accrued interest | 458 |  |  | 524 |  |
Lease liability | 1,375 |  |  | 1,256 |  |
Accrued income taxes | 365 |  |  | 1,044 |  |
Other | 3,535 |  |  | 3,297 |  |
Total other accrued liabilities | $ | 16,501 |  |  | $ | 13,986 |  |
The following table details the change in the accrued warranty balance (in thousands):
| September 30, 2024 |  | March 31, 2024
Beginning balance | $ | 1,545 |  |  | $ | 2,094 |
Current period accruals | 1,172 |  |  | 2,563 |
Adjustments to prior estimates | 52 |  |  | (141) |
Charges incurred | (1,416) |  |  | (2,971) |
Ending balance | $ | 1,353 |  |  | $ | 1,545 |
| BALANCE SHEET INFORMATION Certain significant amounts included in the Company's consolidated balance sheets consist of the following (in thousands): Manufacturing inventories
| March 31,
| 2024 |  | 2023 |  | 2022
Manufactured finished goods | $ | 7,074 |  |  | $ | 6,958 |  |  | $ | 14,607 |
Work in progress | 769 |  |  | 1,304 |  |  | 2,546 |
Raw materials | 9,910 |  |  | 11,179 |  |  | 16,393 |
Total manufacturing inventories | $ | 17,753 |  |  | $ | 19,441 |  |  | $ | 33,546 |
Service inventories
| March 31,
| 2024 |  | 2023 |  | 2022
Finished goods | $ | 3,660 |  |  | $ | 19,834 |  |  | $ | 19,234 |
Component parts | 6,123 |  |  | 5,470 |  |  | 5,020 |
Total service inventories | $ | 9,783 |  |  | $ | 25,304 |  |  | $ | 24,254 |
Property and equipment, net
| March 31,
| 2024 |  | 2023 |  | 2022
Machinery and equipment, and software | $ | 49,095 |  |  | $ | 48,534 |  |  | $ | 47,777 |
Leasehold improvements | 12,473 |  |  | 14,405 |  |  | 6,029 |
Furniture and fixtures | 1,109 |  |  | 863 |  |  | 844 |
| 62,677 |  |  | 63,802 |  |  | 54,650 |
Less: accumulated depreciation | (50,649) |  |  | (47,247) |  |  | (41,797) |
Total property, plant and equipment, net | $ | 12,028 |  |  | $ | 16,555 |  |  | $ | 12,853 |
Depreciation expense for property and equipment amounted to $6.0 million, $5.5 million, and $5.7 million for the years ended March 31, 2024, 2023, and 2022, respectively. Intangibles, net
|  | March 31, 2024 |  | March 31, 2023 |  | March 31, 2022
|  | Gross |  | Accumulated Amortization |  | Net |  | Gross |  | Accumulated Amortization |  | Net |  | Gross |  | Accumulated Amortization |  | Net
Developed technology |  | $ | 9,013 |  |  | $ | (8,550) |  |  | $ | 463 |  |  | $ | 9,013 |  |  | $ | (6,269) |  |  | $ | 2,744 |  |  | $ | 9,208 |  |  | $ | (3,121) |  |  | $ | 6,087 |
Customer lists |  | 4,398 |  |  | (3,192) |  |  | 1,206 |  |  | 4,398 |  |  | (2,201) |  |  | 2,197 |  |  | 4,600 |  |  | (1,103) |  |  | 3,497 |
Intangible assets, net |  | $ | 13,411 |  |  | $ | (11,742) |  |  | $ | 1,669 |  |  | $ | 13,411 |  |  | $ | (8,470) |  |  | $ | 4,941 |  |  | $ | 13,808 |  |  | $ | (4,224) |  |  | $ | 9,584 |
Intangible assets amortization expense was $3.3 million, $4.6 million, and $3.7 million for the years ended March 31, 2024, 2023, and 2022, respectively. As of March 31, 2024, the remaining weighted-average amortization period for definite-lived intangible assets was approximately 0.9 years. The Company recorded amortization of developed technology in cost of product revenue, and customer lists in sales and marketing expenses in the consolidated statements of operations. As of March 31, 2024, the future expected amortization expense for intangible assets is as follows (in thousands): Fiscal year ending
| Estimated future amortization expense
2025 | $ | 1,388 |
Thereafter | 281 |
Total | $ | 1,669 |
Goodwill
| Amount
Balance at March 31, 2022 | $ | 12,969 |
Goodwill acquired | — |
Balance at March 31, 2023 | $ | 12,969 |
Goodwill acquired | — |
Balance at March 31, 2024 | $ | 12,969 |
Other long-term assets
| March 31,
| 2024 |  | 2023 |  | 2022
Capitalized SaaS implementation costs for internal use | $ | 15,349 |  |  | $ | 11,483 |  |  | $ | 6,261 |
Capitalized debt costs | 1,923 |  |  | 1,690 |  |  | 1,779 |
Contract asset | 1,477 |  |  | 1,247 |  |  | 699 |
Deferred taxes | 734 |  |  | 1,054 |  |  | 866 |
Other | 257 |  |  | 372 |  |  | 320 |
Total other long-term assets | $ | 19,740 |  |  | $ | 15,846 |  |  | $ | 9,925 |
Other accrued liabilities
| March 31,
| 2024 |  | 2023 |  | 2022
Accrued expenses | $ | 4,251 |  |  | $ | 1,988 |  |  | $ | 4,984 |
Asset retirement obligation | 2,069 |  |  | 2,513 |  |  | 4,590 |
Accrued income taxes | 1,044 |  |  | 1,509 |  |  | 943 |
Accrued warranty | 1,545 |  |  | 2,094 |  |  | 1,899 |
Accrued interest | 524 |  |  | 494 |  |  | 278 |
Lease liability | 1,256 |  |  | 1,364 |  |  | 1,727 |
Other | 3,297 |  |  | 3,704 |  |  | 2,141 |
Total other accrued liabilities | $ | 13,986 |  |  | $ | 13,666 |  |  | $ | 16,562 |
The following table details the change in the accrued warranty balance (in thousands):
| Year Ended March 31,
| 2024 |  | 2023 |  | 2022
Balance as of April 1 | $ | 2,094 |  |  | $ | 1,899 |  |  | $ | 2,383 |
Current period accruals | 2,563 |  |  | 3,477 |  |  | 3,717 |
Adjustments to prior estimates | (141) |  |  | (18) |  |  | (156) |
Charges incurred | (2,971) |  |  | (3,264) |  |  | (4,045) |
Balance as of March 31 | $ | 1,545 |  |  | $ | 2,094 |  |  | $ | 1,899 |

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

X
- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
Name: | us-gaap_SupplementalBalanceSheetDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration