Leases (Tables)

9 Months Ended

Dec. 31, 2023

Leases [Abstract]

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

Future minimum lease payments under non-cancellable operating leases in effect as of December 31, 2023, are as follows:

in thousands
FY2024 (remaining three months)	$	17
FY2025		69
FY2026		62
Total future minimum lease payments		148
Present value adjustment		(9	)
Operating lease liability	$	139

Schedule of lease cost

The following table reports information about the Company’s lease cost for the three months ended December 31, 2023 (in thousands):

Lease cost:

Operating lease cost	$	16
Variable lease cost		1
Total lease cost	$	17

The following table reports information about the Company’s lease cost for the three months ended December 31, 2022 (in thousands):

Lease cost:
Operating lease cost	$	435
Variable lease cost		92
Total lease cost	$	527

The following table reports information about the Company’s lease cost for the nine months ended December 31, 2023 (in thousands):

Lease cost:
Operating lease cost	$	32
Variable lease cost		2
Total lease cost	$	34

The following table reports information about the Company’s lease cost for the nine months ended December 31, 2022 (in thousands):

Lease cost:
Operating lease cost	$	893
Variable lease cost		187
Total lease cost	$	1,080

Schedule of other lease information

The following table reports other information about the Company’s leases for the three months ended December 31, 2023 (dollar amounts in thousands):

Operating Lease - Operating Cash Flows (Fixed Payments)	$	16
Operating Lease - Operating Cash Flows (Liability Reduction)	$	14
Weighted Average Lease Term - Operating Leases		2.4 years
Weighted Average Discount Rate - Operating Leases		6.5%

The following table reports other information about the Company’s leases for the three months ended December 31, 2022 (dollar amounts in thousands):

Operating Lease - Operating Cash Flows (Fixed Payments)	$	457
Operating Lease - Operating Cash Flows (Liability Reduction)	$	369
Weighted Average Lease Term - Operating Leases		3.9 years
Weighted Average Discount Rate - Operating Leases		6.5%

The following table reports other information about the Company’s leases for the nine months ended December 31, 2023 (dollar amounts in thousands):

Operating Lease - Operating Cash Flows (Fixed Payments)	$	33
Operating Lease - Operating Cash Flows (Liability Reduction)	$	28
Weighted Average Lease Term - Operating Leases		2.4 years
Weighted Average Discount Rate - Operating Leases		6.5%

The following table reports other information about the Company’s leases for the nine months ended December 31, 2022 (dollar amounts in thousands):

Operating Lease - Operating Cash Flows (Fixed Payments)	$	902
Operating Lease - Operating Cash Flows (Liability Reduction)	$	748
Weighted Average Lease Term - Operating Leases		3.9 years
Weighted Average Discount Rate - Operating Leases		6.5%