Current Results

v3.25.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Mar. 31, 2024
Current Assets:    
Cash $ 3,314 $ 2,085
Accounts receivable, net as of allowances of $535 at December 31, 2024 and $3,287 as of March 31, 2024 11,426 6,552
Inventories 19,413 20,642
Prepaid expenses and other current assets 3,805 5,449
Total current assets 37,958 34,728
Property, plant, equipment and rental assets, net 21,058 25,854
Finance lease right-of-use assets 3,938 4,391
Operating lease right-of-use assets 9,321 12,279
Non-current portion of inventories 3,295 3,917
Other assets 2,791 3,037
Total assets 78,361 84,206
Current Liabilities:    
Accounts payable and accrued expenses 17,603 18,212
Accrued salaries and wages 1,053 1,220
Accrued warranty reserve 1,080 1,437
Deferred revenue, current 15,332 11,183
Finance lease liability, current 595 964
Operating lease liability, current 3,775 4,041
Factory protection plan liability 6,298 7,259
Exit new money notes, net of discount, current 7,845 28,911
Total current liabilities 53,581 73,227
Deferred revenue, non-current 609 675
Finance lease liability, non-current 1,933 2,300
Operating lease liability, non-current 5,806 8,527
Exit new money notes, net of discount, non-current 23,851  
Other non-current liabilities 264 264
Total liabilities 86,044 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 955,313 955,145
Accumulated deficit (976,874) (969,810)
Total stockholders' deficiency (21,542) (14,646)
Total liabilities, temporary equity and stockholders' deficiency 78,361 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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v3.25.0.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Revenue, net:        
Total revenue, net $ 20,148 $ 14,600 $ 58,513 $ 66,871
Cost of goods sold:        
Total cost of goods sold 15,154 11,582 42,723 55,161
Gross profit 4,994 3,018 15,790 11,710
Operating expenses:        
Research and development 744 579 1,882 1,897
Selling, general and administrative 6,313 9,749 19,496 25,713
Total operating expenses 7,057 10,328 21,378 27,610
Loss from operations (2,063) (7,310) (5,588) (15,900)
Other income, net 364 53 1,577 59
Interest income 4 7 6 106
Interest expense (986) (1,100) (3,003) (4,619)
Reorganization items, net   32,589   33,042
Income (loss) before provision (benefit) for income taxes (2,681) 24,239 (7,008) 12,688
Provision (benefits) for income taxes 23 (1) 56 14
Net income (loss) $ (2,704) $ 24,240 $ (7,064) $ 12,674
Net income (loss) per share of common stock and non-voting common stock-basic (in dollars per share) $ (0.14) $ 1.27 $ (0.37) $ 0.68
Net income (loss) per share of common stock and non-voting common stock-diluted (in dollars per share) $ (0.14) $ 1.27 $ (0.37) $ 0.68
Weighted average shares used to calculate basic net income (loss) per share of common stock and non-voting common stock (in shares) 19,049 19,047 19,049 18,655
Weighted average shares used to calculate diluted net income (loss) per share of common stock and non-voting common stock (in shares) 19,049 19,047 19,049 18,655
Product and accessories        
Revenue, net:        
Total revenue, net $ 8,272 $ 5,165 $ 24,903 $ 33,464
Cost of goods sold:        
Total cost of goods sold 9,072 6,575 25,622 36,037
Parts, services and rentals        
Revenue, net:        
Total revenue, net 11,876 9,435 33,610 33,407
Cost of goods sold:        
Total cost of goods sold $ 6,082 $ 5,007 $ 17,101 $ 19,124

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v3.25.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash Flows from Operating Activities:    
Net income (loss) $ (7,064) $ 12,674
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 3,023 3,001
Amortization of financing costs and discounts 71 49
Paid-in-kind interest expense 2,714 1,100
Non-cash lease expense 2,957 2,482
Provision for credit loss expense 621 0
Inventory provision 639 552
Provision (benefit) for warranty expenses (203) 143
Stock-based compensation 168 2,057
Non-cash reorganization items, net   (35,255)
Changes in operating assets and liabilities:    
Accounts receivable (6,066) 981
Inventories 4,279 6,638
Prepaid expenses, other current assets and other assets 1,887 (1,029)
Accounts payable and accrued expenses (606) (4,646)
Operating lease liability, net (2,988) (2,464)
Accrued salaries and wages and long-term liabilities (166) 59
Accrued warranty reserve (154) (126)
Deferred revenue 4,083 (5,752)
Factory protection plan liability (961) (2,527)
Net cash provided by (used in) operating activities 2,234 (22,063)
Cash Flows from Investing Activities:    
Expenditures for property, plant, equipment and rental assets (841) (4,551)
Net cash used in investing activities (841) (4,551)
Cash Flows from Financing Activities:    
Proceeds from debtors-in-process facility   12,000
Debt issuance costs   (244)
Repayment of finance lease obligations (164) (115)
Net cash provided by (used in) financing activities (164) 17,641
Net increase (decrease) in Cash 1,229 (8,973)
Cash, Beginning of Period 2,085 12,839
Cash, End of Period 3,314 3,866
Supplemental Disclosures of Cash Flow Information: Cash paid during the period for:    
Interest 97 1,620
Supplemental Disclosures of Cash Flow Information: Cash paid during the period for:    
Income taxes 100 14
Supplemental Disclosures of Non-Cash Information:    
Right-of-use assets obtained in exchange for lease obligations   7,348
Rental assets transferred to inventory 3,067  
Rental assets capitalized from prepaids   623
Settlement of lease liabilities through accounts receivable $ 572 502
Conversion of inventory to rental assets   280
Paid-in-kind debt discount in connection with the three-year term note   500
Term Note Payable, Amended and Restated Note Purchase Agreement    
Cash Flows from Financing Activities:    
Proceeds from three-year term note   3,000
New Money Notes    
Cash Flows from Financing Activities:    
Proceeds from three-year term note   $ 3,000

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