| BALANCE SHEET INFORMATION |
BALANCE SHEET INFORMATION Certain significant amounts included in the Company's consolidated balance sheets consist of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
| Manufacturing inventories |
March 31, |
|
2022 |
|
2021 |
| Finished goods |
|
|
|
| Manufactured finished goods |
$ |
14,395 |
|
|
$ |
12,452 |
|
| Distributor inventory |
212 |
|
|
238 |
|
| Total finished goods |
14,607 |
|
|
12,690 |
|
| Work in progress |
2,546 |
|
|
2,074 |
|
| Raw materials |
16,393 |
|
|
9,703 |
|
| Total manufacturing inventories |
$ |
33,546 |
|
|
$ |
24,467 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Service inventories |
March 31, |
|
2022 |
|
2021 |
| Finished goods |
$ |
19,234 |
|
|
$ |
18,773 |
|
| Component parts |
5,020 |
|
|
4,648 |
|
| Total service inventories |
$ |
24,254 |
|
|
$ |
23,421 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Property and equipment, net |
March 31, |
|
2022 |
|
2021 |
| Machinery and equipment, and software |
$ |
46,831 |
|
|
$ |
38,327 |
|
| Leasehold improvements |
6,029 |
|
|
7,080 |
|
| Furniture and fixtures |
838 |
|
|
847 |
|
|
|
|
|
|
|
|
|
| |
53,698 |
|
|
46,254 |
|
| Less: accumulated depreciation |
(40,845) |
|
|
(36,203) |
|
| Total property, plant and equipment, net |
$ |
12,853 |
|
|
$ |
10,051 |
|
Depreciation and amortization expense for property and equipment amounted to $9.4 million, $5.7 million, and $4.3 million for the years ended March 31, 2022, 2021, and 2020, respectively.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Intangibles, net |
|
March 31, 2022 |
|
March 31, 2021 |
|
|
Gross |
|
Accumulated Amortization |
|
Net |
|
Gross |
|
Accumulated Amortization |
|
Net |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Developed technology |
|
$ |
9,208 |
|
|
$ |
(3,121) |
|
|
$ |
6,087 |
|
|
$ |
4,700 |
|
|
$ |
(473) |
|
|
$ |
4,227 |
|
| Customer lists |
|
4,600 |
|
|
(1,103) |
|
|
3,497 |
|
|
900 |
|
|
(90) |
|
|
810 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Intangible assets, net |
|
$ |
13,808 |
|
|
$ |
(4,224) |
|
|
$ |
9,584 |
|
|
$ |
5,600 |
|
|
$ |
(563) |
|
|
$ |
5,037 |
|
Intangible assets amortization expense was $3.7 million, $0.1 million for the years ended March 31, 2022 and 2021, respectively. There was no amortization expense for the year ended March 31, 2020. As of March 31, 2022, the remaining weighted-average amortization period for definite-lived intangible assets was approximately 2.4 years. The Company recorded amortization of developed technology in cost of product revenue, and customer lists in sales and marketing expenses in the consolidated statements of operations.
As of March 31, 2022, the future expected amortization expense for intangible assets is as follows (in thousands):
|
|
|
|
|
|
|
|
|
| Fiscal year ending |
|
Estimated future amortization expense |
| 2023 |
|
$ |
4,568 |
|
| 2024 |
|
3,417 |
|
| 2025 |
|
1,599 |
|
|
|
|
|
|
|
| Thereafter |
|
— |
|
| Total |
|
$ |
9,584 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Goodwill |
|
Amount |
| Balance at March 31, 2021 |
|
$ |
3,466 |
|
| Goodwill acquired |
|
9,503 |
|
Balance at March 31, 2022 |
|
$ |
12,969 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other accrued liabilities |
March 31, |
|
2022 |
|
2021 |
Accrued expenses |
$ |
4,984 |
|
|
$ |
6,799 |
|
Asset retirement obligation |
4,590 |
|
|
2,906 |
|
|
|
|
|
Accrued warranty |
1,899 |
|
|
2,383 |
|
Accrued interest |
278 |
|
|
57 |
|
| Accrued restructuring |
— |
|
|
580 |
|
Other |
4,811 |
|
|
6,029 |
|
| Total other accrued liabilities |
$ |
16,562 |
|
|
$ |
18,754 |
|
The following table details the change in the accrued warranty balance (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Year Ended March 31, |
|
2022 |
|
2021 |
|
2020 |
| Balance as of April 1 |
$ |
2,383 |
|
|
$ |
2,668 |
|
|
3,456 |
|
| Current period accruals |
3,717 |
|
|
4,699 |
|
|
3,516 |
|
| Adjustments to prior estimates |
(156) |
|
|
(472) |
|
|
(114) |
|
| Charges incurred |
(4,045) |
|
|
(4,512) |
|
|
(4,190) |
|
| Balance as of March 31 |
$ |
1,899 |
|
|
$ |
2,383 |
|
|
$ |
2,668 |
|
|