Acquisitions (Tables)

6 Months Ended

Sep. 30, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Total Consideration

The acquisition date's fair value of the consideration is summarized in the table below (in thousands):

	January 31, 2023
Cash consideration	$	1,628
Seller's Note	$	1,370
Total consideration	$	2,998

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table outlines the consideration transferred and purchase price allocation at the respective fair values as of January 31, 2023 (in thousands):

	January 31, 2023
ASSETS
Accounts receivable	$	1,037
Inventory	517
Other current assets	97
Property, plant and equipment, net	403
Intangible -Trade Name	342
Intangible - Non-competition Agreement	19
Intangible - Customer Relationships	683
Other assets	20
Total assets	$	3,118
LIABILITIES
Accounts payable	61
Accrued expenses and deferred revenue	635
Total liabilities	$	696
Net assets acquired	$	2,422
Consideration paid	2,998
Less: Cash acquired	(500)
Less: Net assets acquired	(2,422)
Goodwill	$	76

Schedule of Income Recognized By Acquired Entity

The following table sets forth the revenue and expenses of WASI that are included in the Company’s condensed consolidated statement of income for the fiscal year ended March 31, 2023 (in thousands):

	Income Statement Post-Acquisition
Revenue	$	929
Cost of Sales	676
Operating Expenses	425
Operating Loss	(172)
Non-operating expense	(22)
Net loss	$	(194)