Description of Business and Summary of Significant Accounting Policies (Tables)

3 Months Ended

Jun. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of typical performance obligations

The Company’s typical performance obligations include the following:

Performance Obligation	When Performance Obligation is Typically Satisfied	When Payment is Typically Due	How Standalone Selling Price is Typically Estimated
Product Revenues
Standard purchase orders for delivery of a tangible product	Upon shipment (point in time)	Within 30 days of delivery	Observable transactions
Engineering services where the deliverable is considered a product	As work is performed (over time)	Within 30 days of services being invoiced	Estimated using a cost-plus margin approach
Service Revenues
Engineering, managed services, and consulting services	As work is performed (over time)	Within 30 days of services being invoiced	Estimated using a cost-plus margin approach
SaaS	Over the course of the SaaS service once the system is available for use (over time)	At the beginning of the contract period	Estimated using a cost-plus margin approach
Extended warranty service	Over the course of the extended warranty period (over time)	At the beginning of the contract period	Estimated using a cost-plus margin approach

Schedule of cash, cash equivalents and restricted cash

Cash, cash equivalents and restricted cash presented in the accompanying unaudited condensed statements of cash flows consisted of the following (in thousands):

	June 30, 2023		March 31, 2023
Cash and cash equivalents	$	19,994	$	16,587
Restricted cash	274		140
	$	20,268	$	16,727

Schedule of Error Corrections and Prior Period Adjustments

Immaterial Correction of Prior Period Financial Statements

Subsequent to the issuance of the financial statements for the three months ended June 30, 2022 and as similarly disclosed in the Company’s annual financial statements for the fiscal year ended March 31, 2023, we identified misstatements in Unbilled accounts receivable and Deferred revenue related to contract activity prior to the fiscal year ended March 31, 2021. Such misstatements relate to balances for contract assets and refund liabilities we determined should have previously been eliminated based on a combination of contract age and cessation of activity associated with certain contracts.

The Company determined the effect of the misstatements were not material to the previously issued financial statements. We determined to restate the accompanying condensed statement of stockholders’ equity for the three months ended June 30, 2022 to correct for this matter, which resulted in an increase to accumulated deficit of $1,613 and decrease in total stockholders’ equity of $1,613 as of June 30, 2022 from amounts previously reported of $(118,964) and 71,987, respectively.

Because these corrections occurred at a time preceding the periods presented herein, all corrections were limited to the condensed statement of stockholders’ equity.