Balance Sheet Components

6 Months Ended

Sep. 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):

	September 30, 2023		March 31, 2023
Raw materials	$	4,959	$	5,167
Work in process	2,343		1,719
Sub-assembly	1,509		809
Finished goods	965		711
Total	$	9,776	$	8,406

Property and equipment

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

	September 30, 2023		March 31, 2023
Machinery and equipment	$	14,079	$	11,124
Computer equipment and software	883		887
Furniture and fixtures	70		75
Leasehold improvements	5,095		5,069
Construction in progress	3,506		6,446
Property and equipment, gross	23,633		23,601
Less: accumulated depreciation	(15,776)		(15,711)
Property and equipment, net	$	7,857	$	7,890

The Company recorded depreciation and amortization expense related to property and equipment, net of $0.3 million and $0.2 million for the three months ended September 30, 2023 and 2022, respectively. The Company recorded depreciation and amortization expense related to property and equipment, net of $0.5 million and $0.3 million for the six months ended September 30, 2023 and 2022, respectively.

Intangible assets

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

	September 30, 2023
	Gross		Accumulated Amortization		Foreign Exchange Rate Changes		Net		Estimated Useful Life (in years)
Patents	$	2,963	$	(2,790)	$	—	$	173	10
Developed Technology - 150 V	560		(517)		(43)		—		6
Developed Technology - 600 V	1,701		(1,570)		(131)		—		6
Total	$	5,224	$	(4,877)	$	(174)	$	173

	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 and six months ended September 30, 2023 and 2022.

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

Year Ending March 31,
2024	$	148
2025	25
Total	$	173

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	(116)
Balance as of September 30, 2023	$	963

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):

	September 30, 2023		March 31, 2023
Accounts payable	$	4,044	$	2,781
Manufacturing production costs	811		506
Legal fees	305		596
Audit fees	12		318
Consulting fees	176		256
Insurance	64		—
Deposit liability	—		2,950
Other	786		488
Accrued expenses	$	2,154	$	5,114
Total Accounts payable and accrued expenses	$	6,198	$	7,895