Acquisitions (Tables)

9 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Schedule of purchase price allocation

The following tables summarize the purchase price allocation (in thousands) as of July 2, 2019:

Cash	$	664
Trade accounts receivable	905
Unbilled accounts receivable	347
Right-of-use assets	863
Property and equipment	357
Intangible assets	3,710
Goodwill	5,440
Other assets	161
Total assets acquired	12,447
Accounts payable	(378)
Accrued payroll and related expenses	(426)
Lease liabilities	(863)
Total liabilities assumed	(1,667)
Total purchase price	$	10,780

The following tables summarize the preliminary purchase price allocation (in thousands) as of December 7, 2020:

Trade accounts receivable	$	2,087
Unbilled accounts receivable	596
Inventories	896
Right-of-use assets	193
Property and equipment	233
Intangible assets	9,500
Goodwill	7,758
Other assets	242
Total assets acquired	21,505
Accounts payable	1,045
Deferred revenue	2,460
Lease liabilities	193
Other liabilities	132
Total liabilities assumed	3,830
Total purchase price	$	17,675

Schedule of fair values and useful lives of the identifiable intangible assets

The following table presents the fair values and useful lives of the identifiable intangible assets acquired:

	Amount		Weighted Average  Useful Life
	(in thousands)		(in years)
Customer relationships	$	3,500	6
Non-compete agreement	210		3
Total intangible assets assumed	$	3,710

The following table presents the fair values and useful lives of the identifiable intangible assets acquired:

	Amount		Weighted Average  Useful Life
	(in thousands)		(in years)
Customer relationships	$	5,800	7
Technology	3,700		4
Total intangible assets assumed	$	9,500

Schedule of Business Acquisitions, by Acquisition

The aggregate acquisition-date fair value of the consideration transferred totaled approximately $17.7 million, which consisted of the following:

Consideration Transferred	Fair Value
	(in thousands)
Cash	$	15,000
Security hold back	1,000
Acquisition-related liabilities	1,075
Contingent consideration	600
Total	$	17,675

Schedule of pro forma financial information

	Three Months Ended December 31, 2020		Three Months Ended December 31, 2019		Nine Months Ended December 31, 2020		Nine Months Ended December 31, 2019
	(In thousands, except per share amounts)
Pro forma revenue	$	30,537	$	30,881	$	94,770	$	91,738
Pro forma net income (loss) from continuing operations	$	(461)	$	(2,238)	$	417	$	(5,668)
Pro forma net income (loss) per share from continuing operations:
Basic	$	(0.01)	$	(0.06)	$	0.01	$	(0.15)
Diluted	$	(0.01)	$	(0.06)	$	0.01	$	(0.15)