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
Current Assets:    
Cash and cash equivalents $ 28,179 $ 8,671
Restricted cash 715  
Accounts receivable, net of allowances of $1,337 at March 31, 2026 and $607 at March 31, 2025 12,911 7,037
Inventories 22,106 16,615
Lease receivable, current 377 113
Prepaid expenses and other current assets 3,547 3,653
Total current assets 67,835 36,089
Property, plant, equipment and rental assets, net 16,185 19,362
Intangible assets, net 5,546 0
Finance lease right-of-use assets 4,789 3,787
Operating lease right-of-use assets 9,859 8,282
Non-current portion of inventories 2,736 3,464
Lease receivable, non-current 1,868 1,175
Other assets 2,632 2,705
Total assets 111,450 74,864
Current Liabilities:    
Accounts payable 17,614 14,092
Accrued expenses 3,796 1,447
Accrued salaries and wages 3,233 2,838
Accrued warranty reserve 971 1,070
Deferred revenue, current 10,040 13,351
Deferred acquisition costs, current 1,726  
Finance lease liability, current 1,520 2,017
Operating lease liability, current 1,862 3,539
Factory protection plan liability 4,698 6,256
Exit notes, net of discount, current 25,320 7,968
Total current liabilities 70,780 52,578
Deferred revenue, non-current 648 598
Deferred acquisition costs, non-current 1,430  
Finance lease liability, non-current 991 248
Operating lease liability, non-current 8,132 4,988
Exit notes, net of discount, non-current   24,213
Total liabilities 81,981 82,625
Commitments and contingencies (Note 12)
Temporary equity:    
Temporary equity 73,936 13,859
Stockholders' deficit:    
Additional paid-in capital 930,234 955,407
Accumulated deficit (974,175) (977,000)
Treasury stock, at cost; 269,603 shares at March 31, 2026 and 57,202 shares at March 31, 2025 (557) (46)
Total stockholders' deficit (44,467) (21,620)
Total liabilities, temporary equity and stockholders' deficit 111,450 74,864
Redeemable Preferred Units    
Temporary equity:    
Temporary equity   13,859
Redeemable Convertible Preferred Stock    
Temporary equity:    
Temporary equity 73,936  
Common Stock    
Stockholders' deficit:    
Common stock 30 18
Non-Voting Common Stock    
Stockholders' deficit:    
Common stock $ 1 $ 1