FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Dec. 31, 2023

Cash, cash equivalents, and available-for-sale investments were as follows (in thousands):


As of December 31, 2023	Amortized Costs		Gross Unrealized Gain		Gross Unrealized Loss		Estimated Fair Value		Cash and Cash Equivalents		Restricted Cash (Current & Non-current)		Short-Term Investments
Cash	$	59,185	$	—	$	—	$	59,185	$	59,185	$	—	$	—
Level 1:
Money market funds	88,583		—		—		88,583		87,765		818		—

Subtotal	147,768		—		—		147,768		146,950		818		—
Level 2:
Term deposit	21,563		—		—		21,563		21,563		—		—
Commercial paper	1,035		—		—		1,035		—		—		1,035

Subtotal	22,598		—		—		22,598		21,563		—		1,035
Total assets	$	170,366	$	—	$	—	$	170,366	$	168,513	$	818	$	1,035


As of March 31, 2023	Amortized Costs		Gross Unrealized Gain		Gross Unrealized Loss		Estimated Fair Value		Cash and Cash Equivalents		Restricted Cash (Current & Non-current)		Short-Term Investments
Cash	$	95,828	$	—	$	—	$	95,828	$	95,828	$	—	$	—
Level 1:
Money market funds	8,935		—		—		8,935		8,935		—		—
Treasury securities	1,599		4		(1)		1,602		—		—		1,602
Subtotal	106,362		4		(1)		106,365		104,763		—		1,602
Level 2:
Certificate of deposit	1,329		—		—		1,329		—		1,329		—
Commercial paper	8,610		—		(2)		8,608		6,637		—		1,971
Corporate debt	22,625		55		(25)		22,655		—		—		22,655
Subtotal	32,564		55		(27)		32,592		6,637		1,329		24,626
Total assets	$	138,926	$	59	$	(28)	$	138,957	$	111,400	$	1,329	$	26,228

Summary of Assumptions Used in Determination of Fair Value

The following table presents additional information about valuation techniques and inputs used for the detachable warrants (see Note 6, Convertible Senior Notes and Term Loan) that are measured at fair value and categorized within Level 3 as of December 31, 2023 and March 31, 2023 (dollars in thousands):


	December 31, 2023			March 31, 2023
Estimated fair value of detachable warrants	$	4,263		$	5,497
Unobservable inputs:
Stock volatility	69.0		%	67.2		%
Risk-free rate	4.0		%	3.6		%
Expected term	3.6 years			4.4 years