Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Mar. 31, 2026
Current Assets:    
Cash $ 31,582 $ 28,179
Restricted cash 715 715
Accounts receivable, net of allowances of $1,417 at June 30, 2026 and $1,337 at March 31, 2026 12,821 12,911
Inventories 26,962 22,106
Prepaid expenses and other current assets 4,002 3,924
Total current assets 76,082 67,835
Property, plant, equipment and rental assets, net 12,865 16,185
Intangible assets, net 5,272 5,546
Finance lease right-of-use assets 4,609 4,789
Operating lease right-of-use assets 8,695 9,859
Non-current portion of inventories 2,900 2,736
Other assets 4,380 4,500
Total assets 114,803 111,450
Current Liabilities:    
Accounts payable 19,347 17,614
Accrued expenses 7,087 7,029
Accrued warranty reserve 990 971
Deferred revenue, current 13,049 10,040
Deferred acquisition costs, current 1,776 1,726
Finance lease liability, current 1,289 1,520
Operating lease liability, current 2,083 1,862
Factory protection plan liability 4,904 4,698
Exit notes, net of discount, current 25,337 25,320
Total current liabilities 75,862 70,780
Deferred revenue, non-current 551 648
Deferred acquisition costs, non-current 967 1,430
Finance lease liability, non-current 784 991
Operating lease liability, non-current 6,936 8,132
Total liabilities 85,100 81,981
Commitments and contingencies (Note 12)
Temporary equity:    
Redeemable preferred stock, $0.001 par value; 1,000,000 shares authorized, 80,000 shares issued and outstanding at June 30, 2026 and March 31, 2026, respectively (Note 13) 74,922 73,936
Total temporary equity 74,922 73,936
Stockholders' deficit:    
Additional paid-in capital 929,613 930,234
Accumulated deficit (974,138) (974,175)
Treasury stock, at cost; 298,824 shares at June 30, 2026 and 269,603 shares at March 31, 2026 (730) (557)
Total stockholders' deficit (45,219) (44,467)
Total liabilities, temporary equity and stockholders' deficit 114,803 111,450
Redeemable Convertible Preferred Stock    
Temporary equity:    
Total temporary equity 74,922 73,936
Common Stock    
Stockholders' deficit:    
Common stock 35 30
Non-Voting Common Stock    
Stockholders' deficit:    
Common stock $ 1 $ 1