Investments and Fair Value Measurement

12 Months Ended

Mar. 31, 2024

Investments, All Other Investments [Abstract]

Note 2. Investments and fair value measurement

Investments in debt securities

As of March 31, 2024, the Company held $1.0 million of investments in debt securities (which are included in the $2.9 million of cash and cash equivalents). For the year ended March 31, 2024, there was $0.1 million of interest income related to the investments in debt securities. There were less than $0.1 million of unrealized gains recorded on investments in debt securities for the year ended March 31, 2024. As the investments in debt securities consist of U.S. Treasury bills from active markets, the fair value is measured using level 1 inputs.

The following table summarizes the Company's investments in debt securities that are measured at fair value as of March 31, 2024 and 2023 (in thousands):


	Amortized costs basis		Gross unrealized gains		Gross unrealized losses		Fair value
As of March 31, 2024
Investments in debt securities	$	997	$	1	$	—	$	998
As of March 31, 2023
Investments in debt securities	$	4,943	$	2	$	—	$	4,945

Investments in equity securities

For the year ended March 31, 2024, $0.7 million of equity securities were liquidated and there was less than a $0.1 million gain on the investment in equity securities. As of March 31, 2024, the fair value of investment in equity securities was zero, as a result of the liquidation of the shares by the underlying company on June 26, 2023. As the investments in equity securities consist of common stock from active markets, the fair value is measured using level 1 inputs.

The following table presents the activity for investments in equity securities measured at fair value for the year ended March 31, 2024 (in thousands):



	Investment in Equity Securities (in thousands)
Balance at March 31, 2023	$	706
Sales		(718	)
Gain on investment in equity securities		12
Balance at March 31, 2024	$	—