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Fair Value Measurements (Tables)
 9 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Liabilities measured at fair value by level The following table summarizes the Company’s liabilities measured at fair value as of the dates presented, by level within the fair value hierarchy (in thousands):
Level 1Level 2Level 3
December 31, 2021
Promissory note$— $— $— 
March 31, 2021
Promissory note$— $— $16,128 
Changes in fair value of promissory notes
The following table includes the changes in fair value of the promissory note which are Level 3 on the fair value hierarchy (in thousands):

April 1, 2021$16,128 
Interest expense accrued77 
Increase in fair value(605)
Conversion(15,600)
December 31, 2021$— 
April 1, 2020$13,885 
Interest expense accrued150 
Increase in fair value2,093 
March 31, 2021$16,128 
Fair value of promissory note
The following table summarizes assumptions used for fair value of promissory note as of the dates presented:
December 31, 2021March 31, 2021
Stock price—$3.75
Time—1.5 years
Risk-free rate—0.12%
Volatility—50.6%