11. STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Mar. 31, 2025

STOCK-BASED COMPENSATION

Summary of stock option activities

			Weighted
		Number of Shares	Average	Weighted			Weighted
	Shares	Underlying	Remaining	Average			Average Grant
	Available for	Options	Contractual	Exercise		Date Fair
	Grant	Outstanding	Life (Years)	Price		Value Per Share
Balance at March 31, 2024	2,584,186	8,968,199		$	5.26	$	2.11
Granted	(831,635)	831,635		$	3.08	$	2.23
Exercised	—	(73,730)		$	2.08	$	0.99
Forfeited	1,343,425	(2,089,388)		$	5.36	$	2.19
Balance at March 31, 2025	3,095,976	7,636,716	5.38	$	5.03	$	2.11
Options vested and exercisable		5,480,321	4.28	$	5.47	$	2.07
Options vested and expected to vest		7,585,284	5.36	$	5.03	$	2.11
Options unvested		2,179,020	8.16	$	3.90	$	2.21

Schedule of options outstanding by exercise price

				Number of	Options Outstanding			Options Exercisable
				Shares	Weighted		Weighted Average		Weighted
				Underlying	Average		Remaining	Number	Average
				Options	Exercise		Contractual	Vested and	Exercise
Exercise Price				Outstanding	Price		Life (Years)	Exercisable	Price
$	0.00	-	2.00	822,453	$	1.91	8.39	632,965	$	1.91
$	2.01	-	4.00	1,356,822	$	3.02	7.20	594,312	$	2.93
$	4.01	-	6.00	3,216,716	$	5.07	5.04	2,012,319	$	5.28
$	6.01	-	8.00	1,616,512	$	6.97	3.40	1,616,512	$	6.97
$	8.01	-	10.00	624,213	$	8.23	4.33	624,213	$	8.23
				7,636,716	$	5.03	5.38	5,480,321	$	5.47

Summary of stock-based compensation expense by line item

	Year Ended March 31,
	2025		2024		2023
	(In thousands)
Cost of revenues	$	199	$	228	$	202
Research and development		1,010		1,411		1,316
Selling, general and administrative		1,053		1,199		951
	$	2,262	$	2,838	$	2,469

Schedule of weighted average assumptions

	Year Ended March 31,
	2025				2024				2023
Stock Option Plans:
Risk-free interest rate	4.05	-	4.48	%	3.69	-	4.80	%	2.95	-	4.27	%
Expected life (in years)	4.89	-	5.00		4.46	-	4.94		4.55	-	5.00
Volatility	91.0	-	96.7	%	80.7	-	85.9	%	49.2	-	53.1	%
Dividend yield			—	%			—	%			—	%
Employee Stock Purchase Plan:
Risk-free interest rate	4.44	-	5.41	%	5.26	-	5.38	%	1.54	-	4.54	%
Expected life (in years)			0.50				0.50				0.50
Volatility	6.1	-	12.4	%	28.8	-	83.9	%	49.3	-	58.2	%
Dividend yield			—	%			—	%			—	%