Current Results

v3.26.1
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

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v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Revenue, net:    
Revenue, net $ 24,923 $ 27,871
Cost of goods sold:    
Cost of goods sold 16,163 20,307
Gross profit 8,760 7,564
Operating expenses:    
Research and development 1,221 814
Selling, general and administrative 6,572 6,921
Total operating expenses 7,793 7,735
Income (loss) from operations 967 (171)
Other income (expense), net (227) 436
Interest income 159 53
Interest expense (857) (1,011)
Income (loss) before provision for income taxes 42 (693)
Provision for income taxes 5 5
Net income (loss) $ 37 $ (698)
Net loss per share of common stock and non-voting common stock - basic (in dollars per share) $ (0.03) $ (0.04)
Net loss per share of common stock and non-voting common stock - diluted (in dollars per share) $ (0.03) $ (0.04)
Weighted average shares used to calculate basic net loss per share of common stock and non-voting common stock (in shares) 34,335 19,366
Weighted average shares used to calculate diluted net loss per share of common stock and non-voting common stock (in shares) 34,335 19,366
Product and Accessories    
Revenue, net:    
Revenue, net $ 12,964 $ 15,720
Cost of goods sold:    
Cost of goods sold 8,997 14,518
Parts and Services    
Revenue, net:    
Revenue, net 9,722 7,938
Cost of goods sold:    
Cost of goods sold 5,732 3,759
Rentals    
Revenue, net:    
Revenue, net 2,237 4,213
Cost of goods sold:    
Cost of goods sold $ 1,434 $ 2,030

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v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash Flows from Operating Activities:    
Net income (loss) $ 37 $ (698)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 1,168 926
Amortization of financing costs and discounts 17 23
Paid-in-kind interest expense   493
Interest related to deferred acquisition costs 87  
Non-cash lease expense 526 821
Non-cash cost of assets sold 3,500  
Provision for credit losses 80 227
Inventory write-down   166
Provision for warranty expenses 76 70
Gain on termination of lease (50)  
Stock-based compensation 365 349
Changes in operating assets and liabilities:    
Accounts receivable 10 (4,170)
Inventories (5,020) 253
Lease receivable 29 25
Prepaid expenses, other current assets and other assets 11 274
Accounts payable 1,740 2,356
Accrued expenses (572) 124
Operating lease liability, net (288) (847)
Accrued salaries and wages and long-term liabilities 632 617
Accrued warranty reserve (57) (6)
Deferred revenue (804) (3,222)
Deposits 3,716  
Factory protection plan liability 206 623
Net cash provided by (used in) operating activities 5,409 (1,596)
Cash Flows from Investing Activities:    
Payment of deferred acquisition costs (500)  
Expenditures for property, plant, equipment and rental assets (894) (126)
Net cash used in investing activities (1,394) (126)
Cash Flows from Financing Activities:    
Acquisition of treasury stock (173) (134)
Repayment of finance lease obligations (439) (187)
Net cash used in financing activities (612) (321)
Net increase in cash and restricted cash 3,403 (2,043)
Cash and restricted cash, Beginning of Period 28,894 8,671
Cash and restricted cash, End of Period 32,297 6,628
Supplemental Disclosures of Cash Flow Information - Cash paid during the period for:    
Interest 862 479
Supplemental Disclosures of Cash Flow Information - Cash paid during the period for:    
Income taxes $ 63 14
Supplemental Disclosures of Non-Cash Information:    
Right-of-use assets obtained in exchange for operating lease obligations   1,419
Right-of-use assets obtained in exchange for finance lease obligations   396
Acquisition of treasury stock with accrued liabilities   46
Settlement of lease liabilities through accounts receivable   210
Operating lease modified to finance lease   614
Accounts payable negotiated in lease modification   $ 1,289

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