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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Mar. 31, 2021
Operating activities      
Net income (loss) $ 14,582 $ 6,478 $ (21,001)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Loss on disposal of property & equipment 66 195 44
Depreciation of fixed assets 1,769 2,210 2,832
Amortization of internal-use software and intangibles 1,743 1,654 1,959
Deferred income taxes (181) (925) (959)
Share-based compensation 12,958 14,549 40,093
Changes in operating assets and liabilities:      
Accounts receivable 2,537 2,551 10,363
Contract assets (590) 684 (228)
Inventories (2,897) (5,764) 2,746
Prepaid expense and other current assets (2,084) (484) (201)
Accounts payable (1,582) 3,417 (7,016)
Contract liabilities 6,383 4,902 (3,971)
Accrued liabilities 2,711 146 1,187
Income taxes payable 290 50 340
Other changes, net (1,242) (1,188) 2,219
Net cash provided by operating activities 34,463 28,475 28,407
Investing activities      
Capital expenditures (7,238) (1,197) (1,389)
Cash paid for business combinations, net of cash acquired 395 (24,455) 0
Additional investments in corporate-owned life insurance policies (27) (27) (2)
Net cash used in investing activities (6,870) (25,679) (1,391)
Financing activities      
Preferred stock issuance proceeds, net of issuance costs 0 0 33,969
Payment of preferred stock dividends (1,836) (1,836) (1,117)
Repurchase of common shares to satisfy employee tax withholding (9,254) (3,046) (7,512)
Principal payments under long-term obligations (4) (19) (24)
Net cash (used in) provided by financing activities (11,094) (4,901) 25,316
Effect of exchange rate changes on cash (628) (104) 195
Net increase (decrease) in cash and cash equivalents 15,871 (2,209) 52,527
Cash and cash equivalents at beginning of period 96,971 99,180 46,653
Cash and cash equivalents at end of period $ 112,842 $ 96,971 $ 99,180