Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Mar. 31, 2025
Current assets:    
Cash and cash equivalents $ 13,180 $ 16,464
Restricted cash 661 139
Accounts receivable, net of allowance for credit losses of $2,730 and $99, respectively 59,429 52,502
Inventories 17,629 22,434
Prepaid expenses 3,744 2,738
Other current assets 8,976 8,529
Total current assets 103,619 102,806
Property and equipment, net 9,952 11,378
Goodwill 12,969 12,969
Intangible assets, net 0 281
Right-of-use assets 7,755 8,580
Other long-term assets 14,977 19,388
Total assets 149,272 155,402
Current liabilities:    
Accounts payable 29,953 31,463
Accrued compensation 9,669 9,214
Deferred revenue, current portion 74,917 75,076
Accrued restructuring 905 786
Term debt 52,758 96,486
Revolving credit facility 0 26,600
Warrant liabilities 16,335 0
Other accrued liabilities 18,639 17,982
Total current liabilities 203,176 257,607
Deferred revenue, net of current portion 33,409 38,847
Convertible Note 75,873 0
Operating lease liabilities 8,406 8,934
Other long-term liabilities 12,637 14,380
Total liabilities 333,501 319,768
Commitments and contingencies (Note 11)
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; 14,135 and 6,962 shares issued and outstanding 141 70
Additional paid-in capital 850,512 779,645
Accumulated deficit (1,033,976) (942,471)
Accumulated other comprehensive loss (906) (1,610)
Total stockholders’ deficit (184,229) (164,366)
Total liabilities and stockholders’ deficit $ 149,272 $ 155,402