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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2022
Revenues $ 90,581 $ 77,383 $ 124,383
Cost of revenue 69,670 59,872 90,471
Gross profit 20,911 17,511 33,912
Operating expenses:      
General and administrative 16,740 19,487 11,680
Impairment on Intangibles 456 0 0
Acquisition related costs 56 765 512
Sales and marketing 12,988 11,392 11,628
Research and development 1,495 1,852 1,701
Total operating expenses 31,735 33,496 25,521
(Loss) income from operations (10,824) (15,985) 8,391
Other income (expense):      
Other income 39 0 1
Interest expense (752) (339) (80)
Amortization of debt issue costs (95) (73) (62)
Interest income 2 34 0
Total other expense (806) (378) (141)
(Loss) income before income tax (11,630) (16,363) 8,250
Income tax expense 41 17,978 2,159
Net (loss) income $ (11,671) [1] $ (34,341) [2] $ 6,091
Basic net (loss) income per share attributable to common shareholders $ (0.36) [1] $ (1.08) [2] $ 0.2
Weighted-average common shares outstanding 32,486,240 31,703,712 31,018,356
Diluted net (loss) income per share $ (0.36) [1] $ (1.08) [2] $ 0.19
Weighted-average common shares and share equivalents outstanding 32,486,240 31,703,712 31,294,573
Product revenue      
Revenues $ 63,307 $ 57,210 $ 91,889
Cost of revenue 44,466 42,979 65,249
Service revenue      
Revenues 27,274 20,173 32,494
Cost of revenue $ 25,204 $ 16,893 $ 25,222
[1] Includes $3.0 million reversal of prior period recognized earnout expense related to the Voltrek earnout compensation in the three months ended March 31, 2024.
[2] 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.