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10. STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Dec. 31, 2021
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, 2021

1,331,562

8,432,877

$

6.17

Options reserved

4,000,000

$

Granted

(1,081,951)

1,081,951

$

5.61

Exercised

(313,097)

$

5.13

$

149,121

Forfeited

239,287

(526,604)

$

6.62

Balance at December 31, 2021

4,488,898

8,675,127

5.68

$

6.11

Options vested and exercisable

5,453,751

4.06

$

5.84

$

516,592

Options vested and expected to vest

8,569,093

5.64

$

6.11

$

516,592

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

-

4.98

1,312,240

$

4.39

2.73

1,312,240

$

4.39

$

4.92

-

5.23

1,107,906

$

5.10

3.69

1,107,906

$

5.10

$

5.28

-

5.58

994,343

$

5.54

9.00

121,802

$

5.30

$

5.59

-

5.83

1,205,877

$

5.77

5.92

493,572

$

5.70

$

5.91

-

6.70

1,494,019

$

6.44

6.02

824,239

$

6.36

$

6.86

-

7.26

986,473

$

7.08

4.49

986,473

$

7.08

$

7.40

-

7.88

729,506

$

7.61

7.91

357,059

$

7.63

$

8.06

157,210

$

8.06

8.09

78,604

$

8.06

$

8.09

82,160

$

8.09

6.08

82,160

$

8.09

$

8.30

605,393

$

8.30

7.53

89,696

$

8.30

8,675,127

$

6.11

5.68

5,453,751

$

5.84

Summary of stock-based compensation expense by line item

Three Months Ended December 31,

Nine Months Ended December 31,

2021

2020

2021

2020

(In Thousands)

(In Thousands)

Cost of revenues

$

58

$

88

$

192

$

260

Research and development

416

343

1,304

1,109

Selling, general and administrative

266

262

783

732

Total

$

740

$

693

$

2,279

$

2,101

Schedule of weighted average assumptions

Three Months Ended December 31,

Nine Months Ended December 31,

2021

2020

2021

2020

Stock Option Plans:

Risk-free interest rate

1.20

%

0.38

%

0.66

-

1.20

%

0.22

-

0.38

%

Expected life (in years)

5.00

5.00

5.00

5.00

Volatility

49.1

%

47.1

%

47.7

-

49.1

%

41.9

-

47.1

%

Dividend yield

%

%

%

%

Employee Stock Purchase Plan:

Risk-free interest rate

0.07

%

0.12

%

0.04

-

0.07

%

0.12

-

0.15

%

Expected life (in years)

0.50

0.50

0.50

0.50

Volatility

45.6

%

68.6

%

45.6

57.4

%

67.1

-

68.6

%

Dividend yield

%

%

%

%