Income Taxes (Tables)

12 Months Ended

Mar. 31, 2026


	Year Ended March 31,
	2026			2025
United States	$	2,706		$	(7,066)
Foreign		65			51
Income (loss) before provision for income taxes	$	2,771		$	(7,015)


	Year Ended March 31,
	2026		2025
Current:
Federal	$	(19)	$	85
State		(16)		61
Foreign		(19)		29
		(54)		175
Deferred:
Federal		—		—
State		—		—
Foreign		—		—
		—		—
Total income tax expense (benefit)	$	(54)	$	175


		Year Ended March 31, 2026
		Amount			Percent
Federal income tax at the statutory rate		$	582			21.0%
State and local taxes, net of federal income tax effect (1)			(13)			(0.5)%
Foreign tax effects
United Kingdom
Statutory tax rate difference between United Kingdom and United States			16			0.6%
Other			(35)			(1.3)%
Effect of cross-border tax laws
Other			(2)			(0.1)%
Tax credits
Research and development credits			(50)			(1.8)%
Changes in valuation allowances			198			7.2%
Nontaxable or nondeductible items
Sec 162(m) officers' compensation			105			3.8%
Share-based payment awards (2)			(123)			(4.4)%
Other			10			0.3%
Other adjustments
Redeemable noncontrolling interest (3)			(381)			(13.8)%
True-up			(362)			(13.1)%
Income tax expense (benefit)		$	(54)			(1.9)%

(1)

A majority (greater than 50%) of the tax effect in this category relates to state and local taxes in California and Pennsylvania.

(2)

The Company classifies windfalls and shortfalls related to share-based compensation within the nondeductible/nontaxable category.

(3)

Partnership income allocated to noncontrolling interest prior to redemption.


		Year Ended March 31, 2025
		Amount			Percent
Federal income tax at the statutory rate		$	(1,473)			21.0%
State taxes, net of federal effect			(304)			4.3%
Redeemable noncontrolling interest			563			(8.0)%
Change in valuation allowance			2,208			(31.5)%
Research and development credits			(44)			0.6%
Excess business interest expense			218			(3.1)%
True-up of prior year's estimates			(1,004)			14.3%
Other			11			(0.2)%
Income tax expense		$	175			(2.5)%


		As of March 31,
		2026			2025
Deferred tax assets:
NOL carryforwards		$	1,962		$	1,456
Investment in partnership			—			825
Goodwill			16,833			—
Lease liabilities			1,461			—
Intangible assets			1,487			—
Inventory reserve			925			—
Warranty reserve			1,364			—
Deferred revenue			1,845			—
Accrued expenses			873			—
Allowance for bad debts			322			—
Property, plant, and equipment			450			—
Other			206			—
Deferred tax assets			27,727			2,281
Valuation allowance for deferred tax assets			(26,038)			(2,281)
Deferred tax assets, net of valuation allowance			1,689			—
Deferred tax liabilities:
Right-of-use assets			(1,428)			—
Other			(261)			—
Net deferred tax assets		$	—		$	—


		Year Ended March 31,
		2026			2025
Balance, beginning of year		$	(2,281)		$	(155,382)
Change in valuation allowance recorded in continuing operations			(265)			153,101
Change in valuation allowance recorded in APIC			(23,492)			—
Balance, end of year		$	(26,038)		$	(2,281)


Balance at April 1, 2024	$	—
Gross increase related to prior year tax positions		19
Gross increase related to current year tax positions		—
Gross decrease due to reorganization		—
Balance at March 31, 2025	$	19
Gross increase related to prior year tax positions		5
Gross increase related to current year tax positions		32
Lapse of statute of limitations		—
Balance at March 31, 2026	$	56


		March 31,			March 31,
		2026			2025
Cash and cash equivalents		$	28,179		$	8,671
Restricted cash			715			—
Total cash and cash equivalents		$	28,894		$	8,671


Federal	$ 70
State:
Pennsylvania	21
Other	10
Foreign	—
Total payments made (net of refunds received)	$ 101