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10. STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Dec. 31, 2020

STOCK-BASED COMPENSATION

Summary of stock option activities

						Weighted
				Number of Shares		Average		Weighted
		Shares		Underlying		Remaining		Average
		Available for		Options		Contractual		Exercise			Intrinsic
		Grant		Outstanding		Life (Years)		Price			Value
Balance at March 31, 2020		2,522,314		8,135,791				$	6.17
Granted		(989,842)		989,842				$	6.14
Exercised		—		(443,190)				$	5.94		$	583,645
Forfeited		44,250		(161,833)				$	7.01
Balance at December 31, 2020		1,576,722		8,520,610		5.57		$	6.17
Options vested and exercisable				5,497,662		4.02		$	5.70		$	9,735,923
Options vested and expected to vest				8,440,795		5.54		$	6.16		$	11,522,386

Schedule of options outstanding by exercise price

					Number of		Options Outstanding					Options Exercisable
					Shares		Weighted			Weighted Average				Weighted
					Underlying		Average			Remaining		Number		Average
					Options		Exercise			Contractual		Vested and		Exercise
Exercise Price					Outstanding		Price			Life (Years)		Exercisable		Price
$	3.40	-	4.81		888,007		$	4.06		3.32		888,007		$	4.06
$	4.90	-	4.99		1,255,826		$	4.97		4.48		1,255,826		$	4.97
$	5.13	-	5.59		910,509		$	5.32		3.68		910,509		$	5.32
$	5.69	-	5.83		854,567		$	5.81		7.36		270,874		$	5.76
$	5.91	-	6.45		933,860		$	6.17		6.18		568,329		$	6.20
$	6.54	-	6.70		1,100,140		$	6.65		5.15		555,193		$	6.60
$	6.86	-	7.26		1,042,797		$	7.08		5.55		563,773		$	6.95
$	7.40	-	8.09		812,431		$	7.79		8.27		330,598		$	7.79
$	8.30				613,893		$	8.30		8.58		45,973		$	8.30
$	9.20				108,580		$	9.20		0.08		108,580		$	9.20
					8,520,610		$	6.17		5.57		5,497,662		$	5.70

Summary of stock-based compensation expense by line item

		Three Months Ended December 31,						Nine Months Ended December 31,
		2020			2019			2020			2019
						(In Thousands)
Cost of revenues		$	88		$	77		$	260		$	184
Research and development			343			347			1,109			1,143
Selling, general and administrative			262			205			732			595
Total		$	693		$	629		$	2,101		$	1,922

Schedule of weighted average assumptions

		Three Months Ended December 31,										Nine Months Ended December 31,
		2020					2019							2020					2019
Stock Option Plans:
Risk-free interest rate				0.38	%				1.66	%		0.22	-	0.38	%		1.66	-	2.30	%
Expected life (in years)				5.00					5.00					5.00					5.00
Volatility				47.1	%				36.5	%		41.9	-	47.1	%		36.5	-	37.3	%
Dividend yield				—	%				—	%				—	%				—	%
Employee Stock Purchase Plan:
Risk-free interest rate				0.12	%				1.58	%		0.12	-	0.15	%		1.58	-	2.43	%
Expected life (in years)				0.50					0.50					0.50					0.50
Volatility				68.6	%				33.5	%		67.1	-	68.6	%		33.5	-	43.1	%
Dividend yield				—	%				—	%				—	%				—	%

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