Balance Sheet Components

9 Months Ended

Dec. 31, 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):

	December 31, 2023		March 31, 2023
Raw materials	$	4,669	$	5,167
Work in process	2,181		1,719
Sub-assembly	2,083		809
Finished goods	1,072		711
Total	$	10,005	$	8,406

Property and equipment

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

	December 31, 2023		March 31, 2023
Machinery and equipment	$	14,193	$	11,124
Computer equipment and software	890		887
Furniture and fixtures	73		75
Leasehold improvements	5,101		5,069
Construction in progress	3,462		6,446
Property and equipment, gross	23,719		23,601
Less: accumulated depreciation	(16,040)		(15,711)
Property and equipment, net	$	7,679	$	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 December 31, 2023 and 2022. The Company recorded depreciation and amortization expense related to property and equipment, net of $0.7 million and $0.5 million for the nine months ended December 31, 2023 and 2022, respectively.

For the three months ended December 31, 2023, the Company recorded a $0.2 million impairment in General and administrative expense of certain property and equipment classified as construction in progress. This was a result of a pending sale for the equipment that evidenced the fair value of the equipment was less than its carrying value.

Intangible assets

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

	December 31, 2023
	Gross		Accumulated Amortization		Foreign Exchange Rate Changes		Net		Estimated Useful Life (in years)
Patents	$	2,963	$	(2,864)	$	—	$	99	10
Developed Technology - 150 V	560		(517)		(43)		—		6
Developed Technology - 600 V	1,701		(1,570)		(131)		—		6
Total	$	5,224	$	(4,951)	$	(174)	$	99

	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 December 31, 2023 and 2022. The Company recorded amortization expenses related to intangible assets of $0.2 million for each of the nine months ended December 31, 2023 and 2022.

Estimated future amortization expenses related to intangible assets as of December 31, 2023 were as follows (in thousands):

Year Ending March 31,
2024	$	74
2025	25
Total	$	99

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	(59)
Balance as of December 31, 2023	$	1,020

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):

	December 31, 2023		March 31, 2023
Accounts payable	$	4,232	$	2,781
Manufacturing production costs	1,017		506
Legal fees	842		596
Audit fees	50		318
Consulting fees	209		256
Royalty fees	221		76
Deposit liability	—		2,950
Equipment sale buyback liability	2,100		—
Other	635		412
Accrued expenses	$	5,074	$	5,114
Total Accounts payable and accrued expenses	$	9,306	$	7,895