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QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)
 12 Months Ended
Mar. 31, 2024
Quarterly Financial Data [Abstract]  
Schedule of Quarterly Financial Information

Summary quarterly results for the years ended March 31, 2024 and March 31, 2023 are as follows:

 

 

 

Three Months Ended

 

 

 

 

 

 

Jun 30, 2023

 

 

Sep 30, 2023

 

 

Dec 31, 2023

 

 

March 31, 2024

 

 

Total

 

 

 

(in thousands, except per share amounts)

 

 

 

 

Total revenue

 

$

17,613

 

 

$

20,586

 

 

$

25,971

 

 

$

26,411

 

 

$

90,581

 

Gross profit

 

$

3,171

 

 

$

4,569

 

 

$

6,367

 

 

$

6,804

 

 

$

20,911

 

Net (loss) income (2)

 

$

(6,637

)

 

$

(4,388

)

 

$

(2,256

)

 

$

1,610

 

 

$

(11,671

)

Basic net (loss) income per share (2)

 

$

(0.21

)

 

$

(0.14

)

 

$

(0.07

)

 

$

0.05

 

 

$

(0.36

)

Shares used in basic per share calculation

 

 

32,346

 

 

 

32,503

 

 

 

32,531

 

 

 

32,486

 

 

 

32,486

 

Diluted net (loss) income per share (2)

 

$

(0.21

)

 

$

(0.14

)

 

$

(0.07

)

 

$

0.05

 

 

$

(0.36

)

Shares used in diluted per share calculation

 

 

32,346

 

 

 

32,503

 

 

 

32,531

 

 

 

33,965

 

 

 

32,486

 

 

 

 

Three Months Ended

 

 

 

 

 

 

Jun 30, 2022

 

 

Sep 30, 2022

 

 

Dec 31, 2022

 

 

Mar 31, 2023

 

 

Total

 

 

 

(in thousands, except per share amounts)

 

 

 

 

Total revenue

 

$

17,906

 

 

$

17,560

 

 

$

20,288

 

 

$

21,629

 

 

$

77,383

 

Gross profit

 

$

3,554

 

 

$

4,435

 

 

$

4,781

 

 

$

4,741

 

 

$

17,511

 

Net loss (1)

 

$

(2,835

)

 

$

(2,331

)

 

$

(24,059

)

 

$

(5,116

)

 

$

(34,341

)

Basic net loss per share (1)

 

$

(0.09

)

 

$

(0.07

)

 

$

(0.75

)

 

$

(0.16

)

 

$

(1.08

)

Shares used in basic per share calculation

 

 

31,138

 

 

 

31,031

 

 

 

32,048

 

 

 

32,294

 

 

 

31,704

 

Diluted net loss per share (1)

 

$

(0.09

)

 

$

(0.07

)

 

$

(0.75

)

 

$

(0.16

)

 

$

(1.08

)

Shares used in diluted per share calculation

 

 

31,138

 

 

 

31,031

 

 

 

32,048

 

 

 

32,294

 

 

 

31,704

 

 

(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.
(2)
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.