SHARE-BASED COMPENSATION

6 Months Ended

Sep. 30, 2023

Equity [Abstract]

SHARE-BASED COMPENSATION

Note 5. SHARE-BASED COMPENSATION

The provisions of ASC 718-10-55 requires the measurement and recognition of compensation expense for all share-based payment awards made to our employees and directors, including employee stock options and RSUs, based on estimated fair values. The following table summarizes stock-based compensation expense related to employee stock options for the three and six months ended September 30, 2023 and 2022, which was allocated as follows:

	Three Months Ended				Six Months Ended
	September 30, 2023		September 30, 2022		September 30, 2023		September 30, 2022
Cost of sales	$	—	$	158	$	—	$	316
Sales and marketing		1,779		1,657		3,558		3,313
General and administrative		10,254		9,912		20,508		19,341
Research and development		1,041		1,118		2,083		2,236
Stock-based compensation expense	$	13,074	$	12,845	$	26,149	$	25,206

Share-based compensation cost for stock options is measured at the grant date, based on the fair value as calculated by the Black-Scholes-Merton ("BSM") option-pricing model. The BSM option-pricing model requires the use of actual employee exercise behavior data and the application of a number of assumptions, including expected volatility, risk-free interest rate and expected dividends. There were no stock options granted, exercised or forfeited during the three and six months ended September 30, 2023 and 2022. As of September 30, 2023, approximately $168,000 of total unrecognized compensation costs related to nonvested stock options is expected to be recognized over a period of five years.