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