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

Income Taxes (Tables)

v3.25.2
Income Taxes (Tables)
12 Months Ended
Mar. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of income (loss) before provision for income taxes

​

​

​

​

​

​

​

​

​

​

​

Year Ended March 31,

 

​

    

2025

    

2024

 

United States

​

$

(7,066)

​

$

7,357

​

Foreign

    

 

51

    

 

49

​

Income (loss) before provision for income taxes

​

$

(7,015)

​

$

7,406

​

 

Schedule of the components of the provision for income taxes

​

​

​

​

​

​

​

​

​

​

​

Year Ended March 31,

​

​

​

2025

​

2024

​

Current:

​

​

​

​

​

​

​

Federal

​

$

85

​

$

—

​

State

​

​

61

​

​

14

​

Foreign

​

​

29

​

​

—

​

​

​

​

175

​

​

14

​

Deferred:

​

​

​

​

​

​

​

Federal

​

​

—

​

​

—

​

State

​

​

—

​

​

—

​

Foreign

​

​

—

​

​

—

​

​

​

​

—

​

​

—

​

Total income tax expense

​

$

175

​

$

14

​

​

​

​

​

​

​

​

​

 

Schedule of reconciliation of income tax expense to the federal statutory rate

​

​

​

​

​

​

​

​

​

​

​

Year Ended March 31,

 

​

    

2025

    

2024

 

Federal income tax at the statutory rate

​

$

(1,473)

​

$

1,556

​

State taxes, net of federal effect

    

 

(304)

    

 

(609)

​

Redeemable noncontrolling interest

​

​

563

​

​

973

​

Impact of Reorganization, net

​

​

—

​

​

147,838

​

Change in Valuation Allowance

​

 

2,208

​

 

(153,075)

​

Research and Development Credits

​

​

(44)

​

​

—

​

Excess Business Interest Expense

​

​

218

​

​

—

​

True-up of prior year's estimates

​

​

(1,004)

​

​

3,326

​

Other

​

 

11

​

 

5

​

Income tax expense

​

$

175

​

$

14

​

 

Schedule of deferred tax assets and liabilities

​

​

​

​

​

​

​

​

​

    

Year Ended March 31,

​

​

2025

    

2024

Deferred tax assets:

​

​

​

​

​

​

NOL carryforwards

​

$

1,456

​

$

144

Tax credit carryforwards

​

 

—

​

 

—

Investment in Partnership

​

 

825

​

 

—

Deferred tax assets

​

 

2,281

​

 

144

Valuation allowance for deferred tax assets

​

 

(2,281)

​

 

(96)

Deferred tax assets, net of valuation allowance

​

 

—

​

 

48

Deferred tax liabilities:

​

​

​

​

​

​

Investment in Partnership

​

​

—

​

​

(48)

Net deferred tax assets

​

$

—

​

$

—

 

Schedule of net operating loss carryforwards for federal and state income tax purposes

​

​

​

​

​

​

​

​

​

​

​

​

​

Expiration

​

​

    

Amount

    

Period

 

Federal NOL

​

$

5,699

 

Indefinite

​

State NOL

​

$

3,774

 

2044

​

 

Schedule of reconciliation of the beginning and ending amount of total gross unrecognized tax benefits

​

​

​

​

​

​

Balance at April 1, 2023

​

$

1,856

​

Gross decrease due to reorganization

​

 

(1,856)

​

Balance at March 31, 2024

​

$

—

​

Gross increase related to prior year tax positions

​

 

19

​

Lapse of statute of limitations

​

 

—

​

Balance at March 31, 2025

​

$

19

​