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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2022
Operating activities      
Net (loss) income $ (11,671) $ (34,341) $ 6,091
Adjustments to reconcile net (loss) income to net cash used in      
Depreciation 1,410 1,369 1,327
Amortization of intangible assets 1,085 653 227
Stock-based compensation 950 1,612 813
Impairment on intangibles 456 0 0
Amortization of debt issue costs 95 73 62
Deferred income tax benefit (5) 17,881 1,980
Impairment of property and equipment 69 0 0
Loss (gain) on sale of property and equipment 84 27 (77)
Provision for inventory reserves 562 628 623
Provision for credit losses/bad debts 170 65 10
Other 12 96 26
Changes in operating assets and liabilities, net of acquisitions:      
Accounts receivable (464) (586) 4,407
Revenue earned but not billed (3,219) 1,426 851
Inventories (603) 1,879 (420)
Prepaid expenses and other assets (1,384) 2,017 (888)
Accounts payable 4,990 2,372 (8,125)
Accrued expenses and other liabilities (2,334) 2,209 (6,933)
Deferred revenue, current and long-term (295) 329 (87)
Net cash (used in) provided by operating activities (10,092) (2,291) (113)
Investing activities      
Cash to fund acquisitions, net of cash received 0 (5,600) (4,012)
Cash paid for investment 0 0 (500)
Purchase of property and equipment (837) (586) (518)
Additions to patents and licenses 0 (9) (10)
Proceeds from sales of property, plant and equipment 106 0 122
Net cash used in investing activities (731) (6,195) (4,918)
Financing activities      
Payment of long-term debt (15) (15) (14)
Proceeds from revolving credit facility 0 10,000 0
Payments to settle employee tax withholdings on stock-based compensation (2) (2) (5)
Debt issue costs 0 (29) (4)
Proceeds from employee equity exercises 3 58 127
Net cash (used in) provided by financing activities (14) 10,012 104
Net (decrease) increase in cash and cash equivalents (10,837) 1,526 (4,927)
Cash and cash equivalents at beginning of period 15,992 14,466 19,393
Cash and cash equivalents at end of period 5,155 15,992 14,466
Supplemental cash flow information:      
Cash paid for interest (691) (346) (68)
Cash paid for income taxes (59) (87) (203)
Supplemental disclosure of non-cash investing and financing activities:      
Issuance of common stock in connection with acquisition $ 0 $ 800 $ 0