Balance Sheet Components

3 Months Ended

Jun. 30, 2022

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

6. Balance Sheet Components

Property and Equipment, Net

Property and equipment, net consisted of the following:

	June 30,			March 31,
	2022			2022
	(in thousands)
Computer and software	$	10,965		$	10,573
Laboratory equipment and software		51,667			51,557
Furniture and office equipment		9,017			8,926
Leasehold improvements		40,640			40,566
Capitalized asset retirement obligations		853		853
Property and equipment, gross		113,142			112,475
Less: accumulated depreciation and amortization		(66,228	)		(62,624	)
Property and equipment, net	$	46,914		$	49,851

Depreciation and amortization expense was $3.8 million and $4.1 million for the three months ended June 30, 2022 and 2021, respectively.

Internal-use Software, Net

Internal-use software, net consisted of the following:

	June 30,			March 31,
	2022			2022
	(in thousands)
Capitalized internal-use software	$	16,432		$	14,804
Less: accumulated amortization		(6,137	)		(5,169	)
Internal-use software, net	$	10,294		$	9,635

The Company capitalized $1.9 million and $0.9 million in internal-use software during the three months ended June 30, 2022 and 2021, respectively. For the three months ended June 30, 2022 and 2021, amortization expense related to internal-use software was $1.0 million and $0.6 million, respectively, including approximately $0.1 million of stock-based compensation expense for both periods. Impairment to internal-use software was $0.2 million for the three months ended June 30, 2022. There was no impairment to internal-use software for the three months ended June 30, 2021.

Intangible Assets, Net

Intangible assets, net as of June 30, 2022, consisted of the following:

	June 30, 2022
	Weighted Average Remaining Useful Life- Years		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(in thousands, except years)
Customer Relationships		1.3	$	14,900	$	(4,967	)	$	9,933
Partnerships		6.4		23,200		(2,454	)		20,746
Trademark		4.3		11,000		(1,467	)		9,533
Developed Technology		6.3		24,100		(2,295	)		21,805
Non-Compete Agreements		4.3		2,800		(373	)		2,427
Patents		6.2		5,500		(551	)		4,949
Total intangible assets			$	81,500	$	(12,107	)	$	69,393

Amortization expense for intangible assets was $4.5 million for the three months ended June 30, 2022. There was no amortization expense for the three months ended June 30, 2021.

Intangible assets, net as of March 31, 2022, 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

Estimated future amortization expense of the identified intangible assets as of June 30, 2022, is as follows:

	Estimated Amortization
	(in thousands)
Fiscal years ending March 31,
Remainder of 2023	$	13,613
2024		15,086
2025		10,741
2026		10,741
2027		8,728
Thereafter		10,484
Total estimated future amortization expense	$	69,393

Accrued Expense and Other Current Liabilities

Accrued expense and other current liabilities consisted of the following:

	June 30,		March 31,
	2022		2022
	(in thousands)
Accrued payables	$	29,714	$	27,654
Accrued compensation and benefits		20,871		14,898
Accrued taxes and other		1,456		2,036
Total accrued expenses and other current liabilities	$	52,041	$	44,588