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

Net Income (Loss) Per Common Share (Tables)

Net Income (Loss) Per Common Share (Tables)

12 Months Ended

Mar. 31, 2026

Schedule of the computation of basic and diluted net income (loss) per share


		Year Ended March 31,
		2026			2025
Numerator:
Consolidated net income (loss)		$	2,825		$	(7,190)
Less: Accretion to redemption value of Preferred Units			69,606			—
Net loss available to holders of common stock and non-voting common stock		$	(66,781)		$	(7,190)
Denominator:
Weighted average shares outstanding - common and non-voting common stock			20,833			19,056
Pre-funded warrants and other equivalents (1)			—			—
Weighted average shares outstanding - diluted			20,833			19,056
Net income (loss) per share - basic		$	(3.21)		$	(0.38)
Net income (loss) per share - diluted		$	(3.21)		$	(0.38)

(1)

For fiscal years ended March 31, 2026 and 2025, all potentially dilutive instruments were excluded from the diluted share count as their inclusion would be anti-dilutive given the net loss available to common stockholders in each period.

Summary of potentially dilutive securities


		Year Ended March 31,
		2026			2025
Restricted stock units			848,626			726,823
Performance restricted stock units			103,981			53,533
Pre-funded warrants - November 2025 PIPE			3,520,000			—
Pre-funded warrants - March 2026 PIPE			300,000			—
Series A Convertible Preferred Stock (as-converted basis)			16,000,000			—
Total potentially dilutive securities excluded			20,772,607			780,356