6. INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2022

INCOME TAXES

Loss before income taxes and provision for income taxes

	Year Ended March 31,
	2022		2021		2020
	(In thousands)
Loss before income taxes:
U.S.	$	(11,132)	$	(10,775)	$	(8,574)
Foreign		(5,281)		(10,395)		(1,516)
	$	(16,413)	$	(21,170)	$	(10,090)
Current income tax expense (benefit):
U.S. federal	$	—	$	(379)	$	(39)
Foreign		(48)		714		274
State		1		(1)		1
		(47)		334		236
Deferred income tax expense (benefit):
U.S. federal		2		1		12
State		—		—		(1)
		2		1		11
Provision (benefit) for income taxes	$	(45)	$	335	$	247

Income tax reconciliation

	Year Ended March 31,
	2022		2021		2020
	(In thousands)
U.S. Federal taxes at statutory rate	$	(3,447)	$	(4,446)	$	(2,120)
State taxes, net of federal benefit		1		(1)		—
Settlement of uncertain tax positions		—		524		—
Stock-based compensation		605		482		(58)
Tax credits		(497)		(509)		(494)
Foreign tax rate differential		1,277		2,419		593
Tax exempt interest		—		(5)		(16)
Tax remeasurement		(220)		—		—
Non-deductible expenses and other		4		(2)		38
		(2,277)		(1,538)		(2,057)
Valuation allowance		2,232		1,873		2,304
	$	(45)	$	335	$	247

Deferred tax assets and deferred tax liabilities

	March 31,
	2022		2021
	(In thousands)
Deferred tax assets:
Tax credits	$	7,861	$	6,975
Net operating losses		5,207		2,980
Stock-based compensation		1,171		1,180
Property and equipment		771		807
Other reserves and accruals		1,384		1,267
Total deferred tax assets		16,394		13,209
Less valuation allowance		(16,183)		(13,017)
Deferred tax assets, net		211		192
Deferred tax liabilities:
Leased assets		(244)		(186)
Unrecognized gains		22		(15)
Total deferred tax liabilities		(222)		(201)
Net deferred tax liability	$	(11)	$	(9)

Unrecognized tax benefits

	Year Ended March 31,
	2022		2021		2020
	(In thousands)
Unrecognized tax benefits, beginning of period	$	3,273	$	3,321	$	3,102
Additions based on tax positions related to current year		229		233		394
Settlements during the period		—		(203)		—
Reductions based on tax positions related to prior years		—		(78)		(158)
Lapses during the current year applicable to statutes of limitations		—		—		(17)
Unrecognized tax benefits, end of period	$	3,502	$	3,273	$	3,321