Current Results

v3.24.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2024
Mar. 31, 2024
Current Assets:    
Cash $ 3,975 $ 2,085
Accounts receivable, net of allowances of $3,439 at June 30, 2024 and $3,287 at March 31, 2024 7,031 6,552
Inventories 20,143 20,642
Prepaid expenses and other current assets 4,689 5,449
Total current assets 35,838 34,728
Property, plant, equipment and rental assets, net 25,140 25,854
Finance lease right-of-use assets 4,240 4,391
Operating lease right-of-use assets 11,299 12,279
Non-current portion of inventories 3,999 3,917
Other assets 2,946 3,037
Total assets 83,462 84,206
Current Liabilities:    
Accounts payable and accrued expenses 22,017 18,212
Accrued salaries and wages 1,257 1,220
Accrued warranty reserve 1,334 1,437
Deferred revenue, current 11,867 11,183
Finance lease liability, current 945 964
Operating lease liability, current 4,099 4,041
Factory protection plan liability 6,319 7,259
Exit new money notes, net of discount, current   28,911
Total current liabilities 47,838 73,227
Deferred revenue, non-current 617 675
Finance lease liability, non-current 2,080 2,300
Operating lease liability, non-current 7,480 8,527
Exit new money notes, net of discount, non-current 29,849  
Other non-current liabilities 265 264
Total liabilities 88,129 84,993
Commitments and contingencies (Note 13)
Temporary equity:    
Redeemable noncontrolling interests 13,859 13,859
Stockholders' deficiency:    
Preferred stock, $.001 par value; 1,000,000 shares authorized, and none issued
Additional paid-in capital 955,202 955,145
Accumulated deficit (973,747) (969,810)
Total stockholders' deficiency (18,526) (14,646)
Total liabilities, temporary equity and stockholders' deficiency 83,462 84,206
Voting Common Stock    
Stockholders' deficiency:    
Common stock 18 18
Non-voting common stock    
Stockholders' deficiency:    
Common stock $ 1 $ 1

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v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Revenue, net:    
Total revenue, net $ 15,643 $ 23,903
Cost of goods sold:    
Total cost of goods sold 11,856 20,466
Gross profit 3,787 3,437
Operating expenses:    
Research and development 548 665
Selling, general and administrative 6,783 6,804
Total operating expenses 7,331 7,469
Loss from operations (3,544) (4,032)
Other income, net 591 10
Interest income 2 58
Interest expense (978) (1,697)
Loss before provision for income taxes (3,929) (5,661)
Provision for income taxes 8 18
Net loss $ (3,937) $ (5,679)
Net loss per share of common stock and non-voting common stock-basic (in dollars per share) $ (0.21) $ (0.31)
Net loss per share of common stock and non-voting common stock-diluted (in dollars per share) $ (0.21) $ (0.31)
Weighted average shares used to calculate basic net loss per share of common stock and non-voting common stock (in shares) 19,049 18,423
Weighted average shares used to calculate diluted net loss per share of common stock and non-voting common stock (in shares) 19,049 18,423
Product and accessories    
Revenue, net:    
Total revenue, net $ 5,361 $ 13,207
Cost of goods sold:    
Total cost of goods sold 5,960 14,130
Parts, service and rentals    
Revenue, net:    
Total revenue, net 10,282 10,696
Cost of goods sold:    
Total cost of goods sold $ 5,896 $ 6,336

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v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows from Operating Activities:    
Net loss $ (3,937) $ (5,679)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 1,014 944
Amortization of financing costs and discounts 13 9
Paid-in-kind interest expense 924  
Non-cash lease expense 979 632
Provision for credit loss expense 146 0
Inventory write-down 155 137
Provision (benefit) for warranty expenses (81) 74
Stock-based compensation 57 306
Changes in operating assets and liabilities:    
Accounts receivable (809) (1,941)
Inventories 262 2,401
Prepaid expenses, other current assets and other assets 851 (597)
Accounts payable and accrued expenses 3,805 3,624
Operating lease liability, net (989) (626)
Accrued salaries and wages and long-term liabilities 38 170
Accrued warranty reserve (22) (28)
Deferred revenue 626 (4,584)
Factory protection plan liability (940) 356
Net cash provided by (used in) operating activities 2,092 (4,802)
Cash Flows from Investing Activities:    
Expenditures for property, plant, equipment and rental assets (149) (2,190)
Net cash used in investing activities (149) (2,190)
Cash Flows from Financing Activities:    
Repayment of finance lease obligations (53) (32)
Net cash used in financing activities (53) (32)
Net increase (decrease) in Cash 1,890 (7,024)
Cash, Beginning of Period 2,085 12,839
Cash, End of Period $ 3,975 $ 5,815

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