Concentration of Credit Risk and Significant Customers

6 Months Ended

Sep. 30, 2023

Concentration of Credit Risk and Significant Customers

The Company manages its credit risk associated with exposure to distributors and direct customers on outstanding accounts receivable through the application of credit approvals and other monitoring procedures. Credit sales, which are mainly on credit terms of 30 to 60 days, are only made to customers who meet the Company's credit standards, while sales to new customers or customers with low credit ratings are usually made on an advance payment basis. The Company closely monitors the aging of accounts receivable from its distributors and direct customers, and regularly reviews their financial positions, where available.

Significant customers are those that represent 10% or more of revenue or accounts receivable.

Total revenues, by percentage, from individual customers representing 10% or more of total revenues in the respective periods were as follows:


	Three Months Ended September 30,		Six Months Ended September 30,
	2023	2022	2023	2022
Customer A	18.6%	*	18.5%	10.4%
Customer B	*	11.2%	*	12.3%
Customer C	18.5%	30.4%	13.2%	32.7%
Customer D	*	29.8%	*	16.7%
Customer E	*	*	*	*
Customer F	29.1%	*	39.8%	*

* Less than 10% of total

Accounts receivable, by percentage, from individual customers representing 10% or more of accounts receivable are set forth in the following table:


	September 30, 2023	March 31, 2023
Customer A	17.8%	26.2%
Customer B	*	*
Customer C	14.5%	12.8%
Customer D	*	38.2%
Customer E	*	10.6%
Customer F	31.9%	*

* Less than 10% of total

Customers A and D are related parties and Customer B is a government agency. JCP Capital Management, LLC Limited (“JCP Capital”) is a majority stockholder of Customer C. See Note 5 - Investment in Joint Venture and Note 11 - Related Party Transactions. Customer F is NSTXL.