Annual report pursuant to Section 13 and 15(d)

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS - CONSOLIDATED BALANCE SHEETS (Details)

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RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS - CONSOLIDATED BALANCE SHEETS (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Mar. 31, 2021
Current assets:                    
Cash and cash equivalents $ 25,692 $ 24,377 $ 25,574 $ 25,465 $ 25,963 $ 26,028 $ 25,698 $ 26,528 $ 5,210  
Restricted cash 168 172 180 200 212 219 223 255 283  
Accounts receivable 67,788 60,020 51,529 66,245 72,464 72,911 61,309 64,909 69,354  
Manufacturing inventories 17,753 20,409 21,376 20,017 19,441 32,402 23,671 32,642 33,546  
Service parts inventories 9,783 25,423 25,880 25,276 25,304 25,822 25,458 25,129 24,254  
Prepaid expenses 2,186 3,763 4,149 6,444 4,158 7,198 9,241 10,715 7,853  
Other current assets 8,414 7,224 5,389 6,004 5,513 7,489 4,839 4,574 4,697  
Total current assets 131,784 141,388 134,077 149,651 153,055 172,069 150,439 164,752 145,197  
Property and equipment, net 12,028 13,251 14,621 15,583 16,555 16,794 15,973 14,093 12,853  
Intangible assets, net 1,669 1,986 2,819 3,801 4,941 6,497 7,245 8,420 9,584  
Goodwill 12,969 12,969 12,969 12,969 12,969 12,969 12,969 12,969 12,969  
Right-of-use assets, net 9,425 9,625 9,844 10,017 10,291 10,468 10,579 10,641 11,107  
Other long-term assets 19,740 19,986 20,475 18,463 15,846 13,600 12,477 10,796 9,925  
Total assets 187,615 199,205 194,805 210,484 213,657 232,397 209,682 221,671 201,635  
Current liabilities:                    
Accounts payable 26,087 22,426 26,946 30,560 35,716 41,788 34,263 33,867 34,220  
Accrued compensation 18,214 15,286 13,746 14,894 15,710 15,527 13,192 14,531 16,141  
Deferred revenue, current portion 78,511 73,240 70,696 76,688 79,807 70,876 69,499 74,130 87,128  
Term debt, current portion 82,496 82,587 82,681 5,000 5,000 5,000 5,000 5,000 4,375  
Warrant liabilities 4,046 1,843 4,056 8,457 7,989 7,559 7,563 10,655 18,237  
Other accrued liabilities 13,986 13,854 11,724 12,715 13,666 15,852 14,502 14,157 16,562  
Total current liabilities 249,944 241,236 231,299 166,114 157,888 156,602 144,019 152,340 176,663  
Deferred revenue, net of current portion 38,176 37,281 35,337 35,685 35,495 36,220 36,480 37,391 39,788  
Revolving credit facility 0       16,750 27,736 21,500 17,300 17,735  
Term debt, net of current portion 0 0 0 77,814 66,354 67,306 68,250 69,195 89,448  
Operating lease liabilities 9,621 9,885 10,079 10,001 10,169 10,346 10,315 9,932 9,891  
Other long-term liabilities 11,372 12,734 12,522 12,191 11,370 12,150 11,653 12,013 11,849  
Total liabilities 309,113 301,136 289,237 301,805 298,026 310,360 292,217 298,171 345,374  
Preferred stock:                    
Preferred stock, 20,000 shares authorized; no shares issued 0 0 0 0 0 0 0 0 0  
Common stock:                    
Common stock, $0.01 par value; 225,000 shares authorized; 93,574 shares issued and outstanding 959 959 956 938 936 932 922 907 605  
Additional paid-in capital 707,116 706,133 705,229 704,309 702,370 699,536 696,567 693,895 624,805  
Accumulated deficit (827,380) (808,436) (798,566) (795,236) (786,094) (775,914) (776,027) (768,603) (767,726)  
Accumulated other comprehensive loss (2,193) (587) (2,052) (1,332) (1,581) (2,517) (3,997) (2,699) (1,423)  
Total stockholders' deficit (121,498) (101,931) (94,433) (91,321) (84,369) (77,963) (82,535) (76,500) (143,739) $ (199,936) [1]
Total liabilities and stockholders' deficit $ 187,615 $ 199,205 $ 194,804 210,484 213,657 232,397 209,682 221,671 201,635  
As previously reported                    
Current assets:                    
Cash and cash equivalents       25,465 25,963 26,028 25,698 26,528 5,210  
Restricted cash       200 212 219 223 255 283  
Accounts receivable       66,245 72,464 72,911 61,309 64,909 69,354  
Manufacturing inventories       20,017 19,441 32,402 23,671 32,642 33,546  
Service parts inventories       25,276 25,304 25,822 25,458 25,129 24,254  
Prepaid expenses       6,444 4,158 7,198 9,241 10,715 7,853  
Other current assets       6,004 5,513 7,489 4,839 4,574 4,697  
Total current assets       149,651 153,055 172,069 150,439 164,752 145,197  
Property and equipment, net       15,583 16,555 16,794 15,973 14,093 12,853  
Intangible assets, net       3,801 4,941 6,497 7,245 8,420 9,584  
Goodwill       12,969 12,969 12,969 12,969 12,969 12,969  
Right-of-use assets, net       10,017 10,291 10,468 10,579 10,641 11,107  
Other long-term assets       18,463 15,846 13,600 12,477 10,796 9,925  
Total assets       210,484 213,657 232,397 209,682 221,671 201,635  
Current liabilities:                    
Accounts payable       30,560 35,716 41,788 34,263 33,867 34,220  
Accrued compensation       14,894 15,710 15,527 13,192 14,531 16,141  
Deferred revenue, current portion       79,686 82,504 72,669 70,184 74,267 86,517  
Term debt, current portion       5,000 5,000 5,000 5,000 5,000 4,375  
Warrant liabilities       0 0 0 0 0 0  
Other accrued liabilities       12,715 13,666 15,852 14,502 14,157 16,562  
Total current liabilities       160,655 152,596 150,836 137,141 141,822 157,815  
Deferred revenue, net of current portion       43,903 43,306 41,076 40,165 40,196 41,580  
Revolving credit facility         16,750 27,736 21,500 17,300 17,735  
Term debt, net of current portion       77,814 66,354 67,306 68,250 69,195 89,448  
Operating lease liabilities       10,001 10,169 10,346 10,315 9,932 9,891  
Other long-term liabilities       12,191 11,370 12,150 11,653 12,013 11,849  
Total liabilities       304,564 300,545 309,450 289,024 290,458 328,318  
Preferred stock:                    
Preferred stock, 20,000 shares authorized; no shares issued       0 0 0 0 0 0  
Common stock:                    
Common stock, $0.01 par value; 225,000 shares authorized; 93,574 shares issued and outstanding       938 936 932 922 907 605  
Additional paid-in capital       725,736 722,603 719,769 716,800 714,128 645,038  
Accumulated deficit       (819,422) (808,846) (795,237) (793,067) (781,123) (770,903)  
Accumulated other comprehensive loss       (1,332) (1,581) (2,517) (3,997) (2,699) (1,423)  
Total stockholders' deficit       (94,080) (86,888) (77,053) (79,342) (68,787) (126,683) (112,245)
Total liabilities and stockholders' deficit       210,484 213,657 232,397 209,682 221,671 201,635  
Adjustments                    
Current assets:                    
Cash and cash equivalents       0 0 0 0 0 0  
Restricted cash       0 0 0 0 0 0  
Accounts receivable       0 0 0 0 0 0  
Manufacturing inventories       0 0 0 0 0 0  
Service parts inventories       0 0 0 0 0 0  
Prepaid expenses       0 0 0 0 0 0  
Other current assets       0 0 0 0 0 0  
Total current assets       0 0 0 0 0 0  
Property and equipment, net       0 0 0 0 0 0  
Intangible assets, net       0 0 0 0 0 0  
Goodwill       0 0 0 0 0 0  
Right-of-use assets, net       0 0 0 0 0 0  
Other long-term assets       0 0 0 0 0 0  
Total assets       0 0 0 0 0 0  
Current liabilities:                    
Accounts payable       0 0 0 0 0 0  
Accrued compensation       0 0 0 0 0 0  
Deferred revenue, current portion       (2,998) (2,697) (1,793) (685) (137) 611  
Term debt, current portion       0 0 0 0 0 0  
Warrant liabilities       8,457 7,989 7,559 7,563 10,655 18,237  
Other accrued liabilities       0 0 0 0 0 0  
Total current liabilities       5,459 5,292 5,766 6,878 10,518 18,848  
Deferred revenue, net of current portion       (8,218) (7,811) (4,856) (3,685) (2,805) (1,792)  
Revolving credit facility         0 0 0 0 0  
Term debt, net of current portion       0 0 0 0 0 0  
Operating lease liabilities       0 0 0 0 0 0  
Other long-term liabilities       0 0 0 0 0 0  
Total liabilities       (2,759) (2,519) 910 3,193 7,713 17,056  
Preferred stock:                    
Preferred stock, 20,000 shares authorized; no shares issued       0 0 0 0 0 0  
Common stock:                    
Common stock, $0.01 par value; 225,000 shares authorized; 93,574 shares issued and outstanding       0 0 0 0 0 0  
Additional paid-in capital       (21,427) (20,233) (20,233) (20,233) (20,233) (20,200)  
Accumulated deficit       24,186 22,752 19,323 17,040 12,520 3,177  
Accumulated other comprehensive loss       0 0 0 0 0 0  
Total stockholders' deficit       2,759 2,519 (910) (3,193) (7,713) (17,056) $ (87,691)
Total liabilities and stockholders' deficit       $ 0 $ 0 $ 0 $ 0 $ 0 $ 0  
[1] The March 31, 2021 ending total shareholders’ deficit reflects the impact of the restatement totaling $87.7 million related to SSP and warrant classification adjustments prior to that time, including a $67.5 million increase of Accumulated deficit and a $20.2 million decrease of Additional paid-in -capital.