Annual report pursuant to Section 13 and 15(d)

BALANCE SHEET INFORMATION

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BALANCE SHEET INFORMATION
 12 Months Ended
Mar. 31, 2024
Balance Sheet Related Disclosures [Abstract]  
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,
2024 2023 2022
   Manufactured finished goods $ 7,074  $ 6,958  $ 14,607 
   Work in progress 769  1,304  2,546 
   Raw materials 9,910  11,179  16,393 
      Total manufacturing inventories $ 17,753  $ 19,441  $ 33,546 

Service inventories March 31,
2024 2023 2022
Finished goods $ 3,660  $ 19,834  $ 19,234 
Component parts 6,123  5,470  5,020 
   Total service inventories $ 9,783  $ 25,304  $ 24,254 
Property and equipment, net March 31,
2024 2023 2022
Machinery and equipment, and software $ 49,095  $ 48,534  $ 47,777 
Leasehold improvements 12,473  14,405  6,029 
Furniture and fixtures 1,109  863  844 
  62,677  63,802  54,650 
Less: accumulated depreciation (50,649) (47,247) (41,797)
   Total property, plant and equipment, net $ 12,028  $ 16,555  $ 12,853 

Depreciation expense for property and equipment amounted to $6.0 million, $5.5 million, and $5.7 million for the years ended March 31, 2024, 2023, and 2022, respectively.

Intangibles, net March 31, 2024 March 31, 2023 March 31, 2022
Gross Accumulated Amortization Net Gross Accumulated Amortization Net Gross Accumulated Amortization Net
   Developed technology $ 9,013  $ (8,550) $ 463  $ 9,013  $ (6,269) $ 2,744  $ 9,208  $ (3,121) $ 6,087 
   Customer lists 4,398  (3,192) 1,206  4,398  (2,201) 2,197  4,600  (1,103) 3,497 
Intangible assets, net $ 13,411  $ (11,742) $ 1,669  $ 13,411  $ (8,470) $ 4,941  $ 13,808  $ (4,224) $ 9,584 

Intangible assets amortization expense was $3.3 million, $4.6 million, and $3.7 million for the years ended March 31, 2024, 2023, and 2022, respectively. As of March 31, 2024, the remaining weighted-average amortization period for definite-lived intangible assets was approximately 0.9 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, 2024, the future expected amortization expense for intangible assets is as follows (in thousands):

Fiscal year ending Estimated future amortization expense
2025 $ 1,388 
Thereafter 281 
Total $ 1,669 

Goodwill Amount
Balance at March 31, 2022 $ 12,969 
Goodwill acquired — 
Balance at March 31, 2023 $ 12,969 
Goodwill acquired — 
Balance at March 31, 2024
 $ 12,969 
Other long-term assets March 31,
2024 2023 2022
Capitalized SaaS implementation costs for internal use $ 15,349  $ 11,483  $ 6,261 
Capitalized debt costs 1,923  1,690  1,779 
Contract asset 1,477  1,247  699 
Deferred taxes 734  1,054  866 
Other 257  372  320 
   Total other long-term assets $ 19,740  $ 15,846  $ 9,925 

Other accrued liabilities March 31,
2024 2023 2022
Accrued expenses
 $ 4,251  $ 1,988  $ 4,984 
Asset retirement obligation
 2,069  2,513  4,590 
Accrued income taxes
 1,044  1,509  943 
Accrued warranty
 1,545  2,094  1,899 
Accrued interest
 524  494  278 
Lease liability 1,256  1,364  1,727 
Other
 3,297  3,704  2,141 
   Total other accrued liabilities $ 13,986  $ 13,666  $ 16,562 

The following table details the change in the accrued warranty balance (in thousands):
  Year Ended March 31,
2024 2023 2022
Balance as of April 1 $ 2,094  $ 1,899  2,383 
   Current period accruals 2,563  3,477  3,717 
   Adjustments to prior estimates (141) (18) (156)
   Charges incurred (2,971) (3,264) (4,045)
Balance as of March 31 $ 1,545  $ 2,094  $ 1,899