Balance Sheet Components

9 Months Ended

Dec. 31, 2021

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

8. Balance Sheet Components

Property and Equipment, Net

Property and equipment, net consisted of the following:

	December 31,			March 31,
	2021			2021
	(in thousands)
Computer and software	$	10,318		$	13,252
Laboratory equipment and software		50,543			48,636
Furniture and office equipment		8,917			8,803
Leasehold improvements		40,435			39,668
Capitalized asset retirement obligations		853		853
Property and equipment, gross		111,066			111,212
Less: accumulated depreciation and amortization		(58,817	)		(50,328	)
Property and equipment, net	$	52,249		$	60,884

Depreciation and amortization expense was $3.9 million and $4.3 million for the three months ended December 31, 2021 and 2020, respectively, and $12.3 million and $14.0 million for the nine months ended December 31, 2021 and 2020, respectively.

Internal-use Software, Net

Internal-use software, net consisted of the following:

	December 31,			March 31,
	2021			2021
	(in thousands)
Capitalized internal-use software	$	12,799		$	9,200
Less: accumulated amortization		(4,389	)		(2,311	)
Internal-use software, net	$	8,410		$	6,889

For the three months ended December 31, 2021 and 2020, amortization expense related to internal-use software was $0.8 million and $0.6 million, respectively, including approximately $0.1 million and $0.1 million, respectively, of stock-based compensation expense. For the nine months ended December 31, 2021 and 2020, amortization expense related to internal-use software was $2.1 million and $1.4 million, respectively, including approximately $0.3 million and $0.2 million, respectively, of stock-based compensation expense. Impairment to internal-use software was nil for the three months ended December 31, 2021 and 2020, respectively, and nil and $0.4 million for the nine months ended December 31, 2021 and 2020, respectively.

Intangible Assets, Net

Intangible assets, net consisted of the following:

	December 31, 2021
	Weighted Average Remaining Useful Life- Years		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(in thousands, except years)
Customer Relationships		1.8	$	14,900	$	(1,242	)	$	13,658
Partnerships		6.8		23,200		(623	)		22,577
Trademark		4.8		11,000		(367	)		10,633
Developed Technology		6.8		24,100		(574	)		23,526
Non-Compete Agreements		4.8		2,800		(93	)		2,707
Patents		6.9		5,500		(143	)		5,357
Total intangible assets			$	81,500	$	(3,042	)	$	78,458

Amortization expense for intangible assets was $3.0 million for each of the three and nine months ended December 31, 2021. There were no intangible assets as of March 31, 2021.
 

Estimated future amortization expense of the identified intangible assets as of December 31, 2021, is as follows:

	Estimated Amortization
	(in thousands)
Fiscal years ending March 31,
Remainder of 2022	$	4,552
2023		18,209
2024		15,105
2025		10,759
2026		10,759
Thereafter		19,074
Total estimated future amortization expense	$	78,458

Accrued Expense and Other Current Liabilities

Accrued expense and other current liabilities consisted of the following:

	December 31,		March 31,
	2021		2021
	(in thousands)
Accrued payables	$	29,108	$	19,869
Accrued compensation and benefits		16,394		11,749
Accrued taxes and other		375		166
Other		420	169
Total accrued expenses and other current liabilities	$	46,297	$	31,953