Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2025
Mar. 31, 2025
Current assets:    
Cash and cash equivalents $ 14,670 $ 16,464
Restricted cash 659 139
Accounts receivable, net of allowance for credit losses of $151 and $99, respectively 43,934 52,502
Inventories 18,930 22,434
Prepaid expenses 4,524 2,738
Other current assets 7,416 8,529
Total current assets 90,133 102,806
Property and equipment, net 10,697 11,378
Goodwill 12,969 12,969
Intangible assets, net 0 281
Right-of-use assets 7,983 8,580
Other long-term assets 15,915 19,388
Total assets 137,697 155,402
Current liabilities:    
Accounts payable 24,193 31,463
Accrued compensation 8,822 9,214
Deferred revenue, current portion 66,758 75,076
Accrued restructuring 855 786
Term debt 99,634 96,486
Revolving credit facility 0 26,600
Warrant liabilities 23,895 0
Other accrued liabilities 17,588 17,982
Total current liabilities 241,745 257,607
Deferred revenue, net of current portion 35,144 38,847
Operating lease liabilities 8,602 8,934
Other long-term liabilities 12,705 14,380
Total liabilities 298,196 319,768
Commitments and contingencies (Note 10)
Stockholders' deficit    
Preferred stock, 20,000 shares authorized; no shares issued and outstanding 0 0
Common stock, $0.01 par value; 225,000 shares authorized; 13,333 and 6,962 shares issued and outstanding 133 70
Additional paid-in capital 846,451 779,645
Accumulated deficit (1,006,133) (942,471)
Accumulated other comprehensive loss (950) (1,610)
Total stockholders’ deficit (160,499) (164,366)
Total liabilities and stockholders’ deficit $ 137,697 $ 155,402