Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2023
Mar. 31, 2022
Current Assets:    
Cash and cash equivalents $ 12,839 $ 22,559
Accounts receivable, net of allowances of $4,813 at March 31, 2023 and $586 at March 31, 2022 7,102 15,894
Inventories, net 37,328 30,167
Prepaid expenses and other current assets 7,447 5,519
Total current assets 64,716 74,139
Property, plant, equipment and rental assets, net 24,275 17,792
Finance lease right-of-use assets 4,529 246
Operating lease right-of-use assets 8,808 5,959
Non-current portion of inventories 3,112 1,680
Other assets 2,591 2,676
Total assets 108,031 102,492
Current Liabilities:    
Accounts payable and accrued expenses 30,290 25,130
Accrued salaries and wages 1,223 1,147
Accrued warranty reserve 1,576 1,483
Deferred revenue 23,372 14,835
Finance lease liability, current 773 89
Operating lease liability, current 2,492 586
Factory protection plan liability 10,844 9,170
Term note payable 50,983 50,949
Total current liabilities 121,553 103,389
Deferred revenue, non-current 817 981
Finance lease liability, non-current 2,903 190
Operating lease liability, non-current 6,588 5,619
Other non-current liabilities 265  
Total liabilities 132,126 110,179
Commitments and contingencies (Note 13)
Stockholders' (Deficiency) Equity:    
Preferred stock, $.001 par value; 1,000,000 shares authorized; none issued
Common stock, $.001 par value; 51,500,000 shares authorized, 18,511,555 shares issued and 18,394,541 shares outstanding at March 31, 2023; 15,398,368 shares issued and 15,296,735 shares outstanding at March 31, 2022 18 15
Additional paid-in capital 955,228 946,969
Accumulated deficit (977,202) (952,583)
Treasury stock, at cost; 117,014 shares at March 31, 2023 and 101,633 shares at March 31, 2022 (2,139) (2,088)
Total stockholders' (deficiency) equity (24,095) (7,687)
Total liabilities and stockholders' (deficiency) equity $ 108,031 $ 102,492