Balance Sheet Components

3 Months Ended

Jun. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Components

Balance Sheet Components

Inventory

Inventory consists of the following as of the dates presented (in thousands):

	June 30, 2023		March 31, 2023
Raw materials	$	4,785	$	5,167
Work in process	2,078		1,719
Sub-assembly	1,145		809
Finished goods	877		711
Total	$	8,885	$	8,406

The Company recorded inventory write-offs of $2 thousand and $0.04 million for the three months ended June 30, 2023 and 2022, respectively.

Property and equipment

Property and equipment, net consist of the following as of the dates presented (in thousands):

	June 30, 2023		March 31, 2023
Machinery and equipment	$	13,529	$	11,124
Computer equipment and software	884		887
Furniture and fixtures	71		75
Leasehold improvements	5,098		5,069
Construction in progress	3,902		6,446
Property and equipment, gross	23,484		23,601
Less: accumulated depreciation	(15,527)		(15,711)
Property and equipment, net	$	7,957	$	7,890

The Company recorded depreciation and amortization expense related to property and equipment, net of $0.2 million for each of the three months ended June 30, 2023 and 2022.

Intangible assets

The carrying values of intangible assets as of the dates presented, respectively, consist of the following (in thousands except years):

	June 30, 2023
	Gross		Accumulated Amortization		Foreign Exchange Rate Changes		Net		Estimated Useful Life (in years)
Patents	$	2,963	$	(2,716)	$	—	$	247	10
Developed Technology - 150 V	560		(517)		(43)		—		6
Developed Technology - 600 V	1,701		(1,570)		(131)		—		6
Total	$	5,224	$	(4,803)	$	(174)	$	247

	March 31, 2023
	Gross		Accumulated Amortization		Foreign Exchange Rate Changes		Net		Estimated Useful Life (in years)
Patents	$	2,963	$	(2,642)	$	—	$	321	10
Developed Technology - 150 V	560		(517)		(43)		—		6
Developed Technology - 600 V	1,701		(1,570)		(131)		—		6
Total	$	5,224	$	(4,729)	$	(174)	$	321

The Company recorded amortization expenses related to intangible assets of $0.1 million for each of the three months ended June 30, 2023 and 2022.

Estimated future amortization expenses related to intangible assets as of June 30, 2023 were as follows (in thousands):

Year Ending March 31,
2024	$	222
2025	25
Total	$	247

Goodwill

Changes in the carrying amount of goodwill were as follows (in thousands):

Balance as of March 31, 2022	$	1,180
Foreign currency translation adjustments	(101)
Balance as of March 31, 2023	$	1,079
Foreign currency translation adjustments	(85)
Balance as of June 30, 2023	$	994

There have been no impairment losses recorded to date.

Accounts payable and accrued expenses

Accounts payable and accrued expenses consist of the following as of the dates presented (in thousands):

	June 30, 2023		March 31, 2023
Accounts payable	$	3,801	$	2,781
Manufacturing production costs	$	561	506
Legal fees	702		596
Audit fees	525		318
Consulting fees	326		256
Insurance	63		—
Deposit liability	—		2,950
Other	539		488
Accrued expenses	$	2,716	$	5,114
Total Accounts payable and accrued expenses	$	6,517	$	7,895