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10. STOCK-BASED COMPENSATION
6 Months Ended
Sep. 30, 2023
STOCK-BASED COMPENSATION  
NOTE 10 - STOCK-BASED COMPENSATION

NOTE 10—STOCK-BASED COMPENSATION

As of September 30, 2023, 3,076,860 shares of common stock were available for grant under the Company’s Amended and Restated 2016 Equity Incentive Plan.

The following table summarizes the Company’s stock option activities for the six months ended September 30, 2023:

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, 2023

3,594,851

8,809,160

$

5.62

Granted

(639,053)

639,053

$

4.55

Exercised

(235,888)

$

5.13

$

313,926

Forfeited

121,062

(580,193)

$

6.23

Balance at September 30, 2023

3,076,860

8,632,132

5.77

$

5.51

Options vested and exercisable

5,495,970

4.21

$

6.04

$

148,839

Options vested and expected to vest

8,531,774

5.75

$

5.53

$

431,582

The following table summarizes stock-based compensation expense by line item in the Condensed Consolidated Statements of Operations, all relating to employee stock plans:

Three Months Ended September 30, 

Six Months Ended September 30, 

2023

2022

2023

2022

    

(In thousands)

(In thousands)

Cost of revenues

$

57

$

49

$

124

$

109

Research and development

369

390

755

741

Selling, general and administrative

250

222

617

449

Total

$

676

$

661

$

1,496

$

1,299