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7. FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Dec. 31, 2020

FINANCIAL INSTRUMENTS

Schedule of fair value of financial assets measured on a recurring basis

The fair value of financial assets measured on a recurring basis is as follows (in thousands):

					Fair Value Measurements at Reporting Date Using
					Quoted Prices
					in Active			Significant
					Markets for			Other			Significant
					Identical Assets			Observable			Unobservable
					and Liabilities			Inputs			Inputs
		December 31, 2020			(Level 1)			(Level 2)			(Level 3)
Assets:
Money market funds		$	23,160		$	23,160		$	—		$	—
Marketable securities			19,322			—			19,322			—
Total		$	42,482		$	23,160		$	19,322		$	—
Liabilities:
Contingent consideration		$	3,972		$	—		$	—		$	3,972

					Fair Value Measurements at Reporting Date Using
					Quoted Prices
					in Active			Significant
					Markets for			Other			Significant
					Identical Assets			Observable			Unobservable
					and Liabilities			Inputs			Inputs
		March 31, 2020			(Level 1)			(Level 2)			(Level 3)
Assets:
Money market funds		$	14,117		$	14,117		$	—		$	—
Marketable securities			19,178			—			19,178			—
Total		$	33,295		$	14,117		$	19,178		$	—
Liabilities:
Contingent consideration		$	3,898		$	—		$	—		$	3,898

Schedule of changes in fair value of contingent consideration

		Nine Months Ended December 31,
		2020			2019
		(In thousands)
Contingent consideration, beginning of period		$	3,898		$	4,206
Change due to accretion			74			87
Payment of contingent consideration			—			(500)
Contingent consideration, end of period		$	3,972		$	3,793

Schedule of available-for-sale investments

		December 31, 2020
					Gross			Gross
					Unrealized			Unrealized			Fair
		Cost			Gains			Losses			Value
		(In thousands)
Short-term investments:
Certificates of deposit		$	2,495		$	14		$	—		$	2,509
Supranational obligations			2,765			5			—			2,770
Agency bonds			3,918			—			(1)			3,917
Total short-term investments		$	9,178		$	19		$	(1)		$	9,196
Long-term investments:
Certificates of deposit		$	4,000		$	31		$	—		$	4,031
Supranational obligations			2,047			—			(1)			2,046
Agency bonds			4,018			31			—			4,049
Total long-term investments		$	10,065		$	62		$	(1)		$	10,126

		March 31, 2020
					Gross			Gross
					Unrealized			Unrealized			Fair
		Cost			Gains			Losses			Value
		(In thousands)
Short-term investments:
Certificates of deposit		$	12,000		$	52		$	(1)		$	12,051
Agency bonds			2,989			21			—			3,010
Total short-term investments		$	14,989		$	73		$	(1)		$	15,061
Long-term investments:
Certificates of deposit		$	745		$	18		$	—		$	763
Agency bonds			2,029			42			—			2,071
Supranational obligations			1,270			13			—			1,283
Total long-term investments		$	4,044		$	73		$	—		$	4,117

Schedule of unrealized losses and fair value of investments

		December 31, 2020
		Less Than 12 Months						12 Months or Greater						Total
			Fair			Unrealized			Fair			Unrealized			Fair			Unrealized
			Value			Loss			Value			Loss			Value			Loss
		(In thousands)
Agency bonds		$	4,918		$	(1)		$	—		$	—		$	4,918		$	(1)
Certificates of deposit			250			(1)			—			—			250			(1)
Supranational obligations			2,523			(1)			—			—			2,523			(1)
		$	7,691		$	(3)		$	—		$	—		$	7,691		$	(3)

		March 31, 2020
		Less Than 12 Months						12 Months or Greater						Total
			Fair			Unrealized			Fair			Unrealized			Fair			Unrealized
			Value			Loss			Value			Loss			Value			Loss
		(In thousands)
Certificates of deposit		$	2,498		$	(2)		$	-		$	-		$	2,498		$	(2)
		$	2,498		$	(2)		$	-		$	-		$	2,498		$	(2)

Schedule of contractual maturities of the available-for-sale investments

					Fair
		Cost			Value
		(In thousands)
Maturing within one year		$	9,178		$	9,196
Maturing in one to three years			10,065			10,126
		$	19,243		$	19,322

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