Quarterly report [Sections 13 or 15(d)]

Intangible Assets

Intangible Assets

3 Months Ended

Jun. 30, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

8. Intangible Assets

The Company's intangible assets relate to two acquisitions completed during Fiscal 2026. In connection with the acquisition of Cal Microturbine, which was accounted for as a business combination under ASC 805, the Company recognized customer relationship intangible assets. In connection with the acquisition of CDSS (as defined herein), which was accounted for as an asset acquisition under ASC 805-50, the Company recognized trademark intangible assets. These intangible assets have finite useful lives and are being amortized on a straight-line basis over their estimated useful lives.

Intangible assets consisted of the following (in thousands):




	Total
	Estimated		June 30,		March 31,
	Useful Life		2026		2026
Customer relationships	6 years	$	4,376	$	4,376
Less: accumulated amortization			(645)		(411)
Customer relationships, net			3,731		3,965

Trademark	10 years		1,581		1,581
Less: accumulated amortization			(40)		—
Trademark, net			1,541		1,581

Total intangible assets, net		$	5,272	$	5,546

Amortization expense related to intangible assets was $0.3 million for the three months ended June 30, 2026, and no amortization expense was recognized for the three months ended June 30, 2025, due to the absence of such assets.

Estimated future amortization expense for intangible assets as of June 30, 2026 is as follows (in thousands):


Year Ending March 31,
2027 (remainder of fiscal year)	$	667
2028		887
2029		887
2030		887
2031		887
Thereafter		1,057
Total	$	5,272