Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2024
Current assets:      
Cash and cash equivalents $ 15,572 $ 16,464  
Restricted cash 662 139  
Accounts receivable, net of allowance for credit losses of $3,234 and $99, respectively 69,650 52,502 $ 67,788
Inventories 16,103 22,434  
Prepaid expenses 2,431 2,738  
Other current assets 8,068 8,529  
Total current assets 112,486 102,806  
Property and equipment, net 9,284 11,378  
Intangible assets, net 0 281  
Goodwill 12,969 12,969 12,969
Right-of-use assets, net 7,416 8,580  
Other long-term assets 14,737 19,388  
Total assets 156,892 155,402  
Current liabilities:      
Accounts payable 29,342 31,463  
Accrued compensation 11,862 9,214  
Deferred revenue, current portion 75,654 75,076  
Accrued restructuring charges 566 786  
Term debt 54,811 96,486  
Revolving credit facility 0 26,600  
Warrant liabilities 14,105 0  
Other accrued liabilities 19,457 17,982  
Total current liabilities 205,797 257,607  
Deferred revenue, net of current portion 39,030 38,847  
Convertible note 90,034 0  
Operating lease liabilities 8,172 8,934  
Other long-term liabilities 12,716 14,380  
Total liabilities 355,749 319,768  
Commitments and contingencies (Note 10)  
Preferred stock:      
Preferred stock, 20,000 shares authorized; no shares issued as of March 31, 2026 and 2025, respectively 0 0  
Common stock:      
Common stock, $0.01 par value; 225,000 shares authorized; 14,638 and 6,962 shares issued and outstanding at March 31, 2026 and 2025, respectively 146 70 48
Additional paid-in capital 853,974 779,645 708,027
Accumulated deficit (1,043,517) (942,471) (827,380)
Accumulated other comprehensive loss (9,460) (1,610) (2,193)
Total stockholders' deficit (198,857) (164,366) $ (121,498)
Total liabilities and stockholders' deficit $ 156,892 $ 155,402