Balance Sheet Components

12 Months Ended

Mar. 31, 2022

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

8. Balance Sheet Components

Property and Equipment, Net

Property and equipment, net consisted of the following:

	March 31,
	2022			2021
	(in thousands)
Computer and software	$	10,573		$	13,252
Laboratory equipment and software		51,557			48,636
Furniture and office equipment		8,926			8,803
Leasehold improvements		40,566			39,668
Capitalized asset retirement obligations		853		853
Property and equipment, gross		112,475			111,212
Less: accumulated depreciation and amortization		(62,624	)		(50,328	)
Property and equipment, net	$	49,851		$	60,884

Depreciation and amortization expense was $16.1 million, $18.1 million and $22.2 million for the fiscal years ended March 31, 2022, 2021 and 2020, respectively.

Internal-use Software, Net

Internal-use software, net consisted of the following:

	March 31,
	2022			2021
	(in thousands)
Capitalized internal-use software	$	14,804		$	9,200
Less: accumulated amortization		(5,169	)		(2,311	)
Internal-use software, net	$	9,635		$	6,889

The Company capitalized $5.7 million, $4.0 million and $6.0 million in internal-use software during the fiscal years ended March 31, 2022, 2021 and 2020, respectively. For the fiscal years ended March 31, 2022, 2021 and 2020, amortization expense related to internal-use software was $2.9 million, $2.0 million and $0.4 million, respectively, including approximately $0.5 million, $0.3 million and $0.1 million, respectively, of stock-based compensation expense.

Intangible Assets, Net

Intangible assets, net consisted of the following:

	March 31, 2022
	Weighted Average Remaining Useful Life- Years		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(in thousands, except years)
Customer Relationships		1.6	$	14,900	$	(3,104	)	$	11,796
Partnerships		6.6		23,200		(1,558	)		21,642
Trademark		4.6		11,000		(917	)		10,083
Developed Technology		6.6		24,100		(1,436	)		22,664
Non-Compete Agreements		4.6		2,800		(233	)		2,567
Patents		6.4		5,500		(347	)		5,153
Total intangible assets			$	81,500	$	(7,595	)	$	73,905

Amortization expense for intangible assets was $7.6 million for the fiscal year ended March 31, 2022. There were no intangible assets as of March 31, 2021.

Estimated future amortization expense of the identified intangible assets as of March 31, 2022, is as follows:

	Estimated Amortization
	(in thousands)
Fiscal years ending March 31,
2023	$	18,209
2024		15,105
2025		10,759
2026		10,759
2027		8,426
Thereafter		10,647
Total estimated future amortization expense	$	73,905

Accrued Expense and Other Current Liabilities

Accrued expense and other current liabilities consisted of the following:

	March 31,
	2022		2021
	(in thousands)
Accrued payables	$	27,654	$	19,869
Accrued compensation and benefits		14,898		11,749
Accrued taxes and other		2,036		335
Total accrued expenses and other current liabilities	$	44,588	$	31,953