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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