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8. LEASES

9 Months Ended

Dec. 31, 2021

LEASES

NOTE 8 - LEASES

NOTE 8—LEASES

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The Company has operating leases for corporate offices, research and development facilities, certain equipment and software. The Company’s leases have remaining lease terms of 4 months to 34 months, some of which include options to extend for up to 5 years.

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Supplemental balance sheet information related to leases was as follows:

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​	​	​	​	​	​	​
​	​	As of		​	As of
​	​	December 31, 2021		​	March 31, 2021
​	​	(In thousands)
Operating Leases	​	​	​	​	​	​
Operating lease right-of-use assets	​	$	560	​	$	677
​	​	​	​	​	​	​
Lease liabilities-current	​	$	324	​	$	375
Lease liabilities-non-current	​	​	256	​	​	324
Total operating lease liabilities	​	$	580	​	$	699

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The following table provides the details of lease costs:

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Three Months Ended December 31,

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Nine Months Ended December 31,

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2021

2020

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2021

2020

​

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(In thousands)

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(In thousands)

Operating lease cost

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$

98

​

$

172

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$

325

​

$

504

Short-term lease cost

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​

84

​

​

8

​

​

197

​

​

23

​

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$

182

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$

180

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$

522

​

$

527

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The following table provides other information related to leases:

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​	​	​	​	​	​	​
​	​	Nine Months Ended December 31,
​	​	2021			2020
​	​	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities	​	​	​	​	​	​
Operating cash flows from operating leases	​	$	329	​	$	175
​	​	​	​	​	​	​
Right-of-use assets obtained in exchange for lease obligations	​	​	​	​	​	​
Operating leases	​	$	174	​	$	658
​	​	​	​	​	​	​
Weighted-average remaining lease term (years):	​	​	​	​	​	​
Operating leases	​	​	2	​	​	2.2
​	​	​	​	​	​	​
Weighted-average discount rate:	​	​	​	​	​	​
Operating leases	​	​	4.33%	​	​	4.86%

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The following table provides the maturities of the Company’s operating lease liabilities as of December 31, 2021:

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​	​	​	​	​	​	​
​	​	​	​	​	Operating Lease
​	​	​	​		Liabilities
Fiscal Year	​	​	​	​	(In thousands)
2022 (Remaining three months)	​	​	​	​	$	91
2023	​	​	​	​	​	316
2024	​	​	​	​	​	165
2025	​	​	​	​	​	31
Total undiscounted future cash flows	​	​	​	​	​	603
Less: Imputed interest	​	​	​	​	​	(23)
Present value of undiscounted future cash flows	​	​	​	​	$	580
​	​	​	​	​	​	​
Presentation on statement of financial position	​	​	​	​	​	​
Current	​	​	​	​	$	324
Non-current	​	​	​	​	$	256

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X

- References

No definition available.

+ Details

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X

- Definition

The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-URI http://asc.fasb.org/subtopic&trid=77888251

+ Details

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