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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Mar. 31, 2021
Revenues $ 77,383 $ 124,383 $ 116,840
Cost of revenue 59,872 90,471 86,716
Gross profit 17,511 33,912 30,124
Operating expenses:      
General and administrative 19,487 11,680 11,262
Acquisition related costs 765 512 0
Sales and marketing 11,392 11,628 10,341
Research and development 1,852 1,701 1,685
Total operating expenses 33,496 25,521 23,288
Income from operations (15,985) 8,391 6,836
Other income (expense):      
Other income 0 1 56
Interest expense (339) (80) (127)
Amortization of debt issue costs (73) (62) (157)
Loss on debt extinguishment 0 0 (90)
Interest income 34 0 0
Total other expense (378) (141) (318)
Income before income tax (16,363) 8,250 6,518
Income tax expense (benefit) 17,978 2,159 (19,616)
Net (loss) income $ (34,341) [1] $ 6,091 $ 26,134
Basic net (loss) income per share attributable to common shareholders $ (1.08) [1] $ 0.20 $ 0.85
Weighted-average common shares outstanding 31,703,712 31,018,356 30,634,553
Diluted net (loss) income per share $ (1.08) [1] $ 0.19 $ 0.83
Weighted-average common shares and share equivalents outstanding 31,703,712 31,294,573 31,303,727
Product revenue      
Revenues $ 57,210 $ 91,889 $ 87,664
Cost of revenue 42,979 65,249 63,233
Service revenue      
Revenues 20,173 32,494 29,176
Cost of revenue $ 16,893 $ 25,222 $ 23,483
[1] Includes $17.8 million of tax expense related to the booking of the valuation allowance on deferred tax assets during the three months ended December 31, 2022.