Balance Sheet Components

6 Months Ended

Sep. 30, 2022

Balance Sheet Related Disclosures [Abstract]

. Balance Sheet Components

Property and Equipment, Net

Property and equipment, net consisted of the following:


	September 30,			March 31,
	2022			2022
	(in thousands)
Computer and software	$	11,374		$	10,573
Laboratory equipment and software		51,760			51,557
Furniture and office equipment		9,140			8,926
Leasehold improvements		40,768			40,566
Capitalized asset retirement obligations		853		853
Property and equipment, gross		113,895			112,475
Less: accumulated depreciation and amortization		(69,838	)		(62,624	)
Property and equipment, net	$	44,057		$	49,851

Depreciation and amortization expense was $3.9 million and $4.3 million for the three months ended September 30, 2022 and 2021, respectively, and $7.8 million and $8.4 million for the six months ended September 30, 2022 and 2021, respectively.

Internal-Use Software, Net

Internal-use software, net consisted of the following:


	September 30,			March 31,
	2022			2022
	(in thousands)
Capitalized internal-use software	$	18,676		$	14,804
Less: accumulated amortization		(7,169	)		(5,169	)
Internal-use software, net	$	11,507		$	9,635

The Company capitalized $2.4 million and $1.4 million in internal-use software during the three months ended September 30, 2022 and 2021, respectively, and $4.3 million and $2.2 million in internal-use software during the six months ended September 30, 2022 and 2021, respectively. Impairment to internal-use software was $0.2 million and $0.5 million for the three and six months ended September 30, 2022, respectively. There was no impairment to internal-use software for the three and six months ended September 30, 2021. For the three months ended September 30, 2022 and 2021, amortization expense related to internal-use software was $1.0 million and $0.7 million, respectively, which included approximately $0.3 million and $0.1 million, respectively, of stock-based compensation. For the six months ended September 30, 2022 and 2021, amortization expense related to internal-use software was $2.0 million and $1.3 million, respectively, which included approximately $0.4 million and $0.2 million, respectively, of stock-based compensation expense.

Intangible Assets, Net

Intangible assets, net consisted of the following:


	September 30, 2022
	Weighted Average Remaining Useful Life- Years		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(in thousands, except years)
Customer relationships		1.1	$	14,900	$	(6,829	)	$	8,071
Partnerships		6.1		23,200		(3,301	)		19,899
Trademark		4.1		11,000		(2,017	)		8,983
Developed technology		6.1		24,100		(3,156	)		20,944
Non-compete agreements		4.1		2,800		(514	)		2,286
Patents		6.0		5,500		(755	)		4,745
Total intangible assets			$	81,500	$	(16,572	)	$	64,928


	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 $4.5 million and $9.0 million for the three and six months ended September 30, 2022, respectively. There was no amortization expense for the three and six months ended September 30, 2021.

Estimated future amortization expense of the identified intangible assets as of September 30, 2022 were as follows:


	Estimated Amortization
	(in thousands)
Fiscal years ending March 31,
2023 (Remaining six months)	$	9,035
2024		14,966
2025		10,621
2026		10,621
2027		9,039
Thereafter		10,646
Total estimated future amortization expense	$	64,928

Accrued Expense and Other Current Liabilities

Accrued expense and other current liabilities consisted of the following:


	September 30,		March 31,
	2022		2022
	(in thousands)
Accrued payables	$	18,789	$	27,654
Accrued compensation and benefits		24,430		14,898
Accrued taxes and other		1,201		2,036
Total accrued expenses and other current liabilities	$	44,420	$	44,588