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Leases (Tables)

9 Months Ended

Dec. 31, 2024

Leases [Abstract]

Schedule of lease cost

The key components of the Company's operating leases expenses were as follows:

		Three Months Ended December 31,								Nine Months Ended December 31,
(In thousands)		2024				2023				2024				2023
Operating lease expense		$	108			$	16				251				48
Short-term lease expense			6				1				9				3
Total lease cost		$	114			$	17			$	260			$	51

Schedule of right-of-use assets and lease liabilities for operating leases

Right-of-use assets and lease liabilities for operating leases were recorded in the condensed consolidated balance sheets as follows:

		(In thousands)
		December 31, 2024				March 31, 2024
Operating leases:
Operating lease right-of-use assets		$	2,925			$	65
Current portion of operating lease liabilities			267				-
Operating lease liabilities			2,688				65

Summary of future minimum lease payments under non-cancellable operating leases

Future minimum lease payments under non-cancelable operating leases as of December 31, 2024, are as follows:

(In thousands)
Remainder of FY 2025		$	131
FY 2026			430
FY 2027			431
FY 2028			421
FY 2029			413
Thereafter			2,246
Total minimum lease payments			4,072
Less: effects of discounting			(1,117	)
Present value of future minimum lease payments		$	2,955

X

- Definition

Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-4

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- References

No definition available.

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X

- Definition

Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-6

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- Definition

Tabular disclosure of lessor's underlying asset for which right to use has been conveyed to lessee under operating lease.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 840
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481501/840-20-50-4

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479773/842-30-50-13

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482099/360-10-50-1

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