Balance Sheet Components

6 Months Ended

Sep. 30, 2024

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

Balance Sheet Components

Prepaid Expense and Other Current Assets

Prepaid expense and other current assets consisted of the following:

	September 30, 2024		March 31, 2024
	(in thousands)
Prepaid expenses	$	12,894	$	9,296
Insurance recovery receivable	22,633		2,188
Other receivables	1,751		3,563
Other current assets	2,372		1,794
Prepaid expenses and other current assets	$	39,650	$	16,841

Property and Equipment, Net

Property and equipment, net consisted of the following:

	September 30, 2024		March 31, 2024
	(in thousands)
Computer equipment and software	$	7,392	$	7,485
Laboratory equipment and software	51,363		51,635
Furniture and office equipment	8,937		8,929
Leasehold improvements	41,467		41,180
Capitalized asset retirement obligations	853		853
Property and equipment, gross	110,012		110,082
Less: accumulated depreciation and amortization	(85,198)		(81,731)
Property and equipment, net	$	24,814	$	28,351

Depreciation and amortization expense was $2.0 million and $3.0 million for the three months ended September 30, 2024 and 2023, respectively, and $4.0 million and $6.0 million for the six months ended September 30,

2024 and 2023, respectively. There were no impairments to property and equipment for the three and six months ended September 30, 2024 and 2023.

Operating Lease Right-Of-Use Assets, Net

Operating lease right-of-use assets, net consisted of the following:

	September 30, 2024		March 31, 2024
	(in thousands)
Operating lease right-of-use assets	$	85,166	$	85,166
Less: accumulated amortization	(40,062)		(36,272)
Operating lease right-of-use assets, net	$	45,104	$	48,894

Internal-Use Software, Net

Internal-use software, net consisted of the following:

	September 30, 2024		March 31, 2024
	(in thousands)
Capitalized internal-use software	$	39,296	$	35,918
Less: accumulated amortization	(18,817)		(15,402)
Internal-use software, net	$	20,479	$	20,516

The Company capitalized $3.2 million and $3.4 million in internal-use software during the three months ended September 30, 2024 and 2023, respectively, and $4.5 million and $6.8 million in internal-use software during the six months ended September 30, 2024 and 2023, respectively. In addition, the Company wrote off $1.1 million of internal-use software during the three months ended September 30, 2023 related to the disposition of Lemonaid Health Limited, refer to Note 17 “Disposition of Subsidiary,” for additional information.

Amortization of internal-use software was $1.6 million and $1.3 million for the three months ended September 30, 2024 and 2023, respectively, and $3.4 million and $2.5 million for the six months ended September 30, 2024 and 2023, respectively. Impairment to internal-use software was $1.2 million and nil for the three and six months ended September 30, 2024 and 2023, respectively.

Intangible Assets, Net

Intangible assets, net consisted of the following:

	September 30, 2024
	Weighted Average Remaining Useful Life (Years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(in thousands, except years)
Customer relationships	0.0	$	14,900	$	(14,900)	$	—
Partnerships	7.1	9,000		(2,625)		6,375
Trademark	2.1	11,000		(6,417)		4,583
Developed technology	4.1	24,100		(10,042)		14,058
Non-compete agreements	2.1	2,800		(1,633)		1,167
Patents	4.0	5,500		(2,388)		3,112
Total intangible assets		$	67,300	$	(38,005)	$	29,295

	March 31, 2024
	Weighted Average Remaining Useful Life (Years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(in thousands, except years)
Customer relationships	0.0	$	14,900	$	(14,900)	$	—
Partnerships	7.6	9,000		(2,175)		6,825
Trademark	2.6	11,000		(5,317)		5,683
Developed technology	4.6	24,100		(8,320)		15,780
Non-compete agreements	2.6	2,800		(1,353)		1,447
Patents	4.5	5,500		(1,980)		3,520
Total intangible assets		$	67,300	$	(34,045)	$	33,255

Amortization expense for intangible assets was $2.0 million and $3.8 million for the three months ended September 30, 2024 and 2023, respectively, and $4.0 million and $7.7 million for six months ended September 30, 2024 and 2023, respectively. There was no impairment to intangible assets during the three and six months ended September 30, 2024 and 2023.

Estimated future amortization expense of the identified intangible assets as of September 30, 2024 was as follows:

	Estimated Amortization
	(in thousands)
Fiscal years ending March 31,
Remainder of 2025 (Remaining six months)	$	3,960
2026	7,919
2027	6,769
2028	5,006
2029	3,175
Thereafter	2,466
Total estimated future amortization expense	$	29,295

Accrued Expense and Other Current Liabilities

Accrued expense and other current liabilities consisted of the following:

	September 30, 2024		March 31, 2024
	(in thousands)
Accrued payables	$	8,660	$	9,697
Accrued settlement and legal expenses	34,525		3,260
Accrued compensation and benefits	3,235		4,266
Accrued vacation	6,643		7,221
Accrued bonus	7,696		7,420
Accrued clinical expenses	5,467		9,291
Accrued taxes and other	1,102		1,108
Total accrued expenses and other current liabilities	$	67,328	$	42,263