SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Mar. 31, 2025

An analysis of the allowance for credit losses for the periods ended March 31, 2024 and 2025 is as follows (in thousands):


Allowance for credit losses, December 31, 2023	$	2,797



Current period provision for expected credit losses	970
Write-offs charged against the allowance	(545)


Foreign currency translation	(25)
Allowance for credit losses, March 31, 2024	$	3,197
Current period provision for expected credit losses	9,418
Write-offs charged against the allowance	(8,908)
Foreign currency translation	350
Allowance for credit losses, March 31, 2025	$	4,057

The following table provides the range of estimated useful lives used for each asset type:


			Useful Life (years)
Installed products			3 - 5
Computer software			3 - 5
Computers and electronic equipment			3 - 10
Furniture and fixtures			5 - 7
Leasehold improvements			Shorter of useful life or lease term
Plant and equipment			1 - 8

Fixed assets are stated at cost, less accumulated depreciation and amortization, and are summarized as follows (in thousands):


	March 31,
	2024		2025

Installed and uninstalled products	$	11,030	$	61,564
Computer software	11,496		11,523
Computer and electronic equipment	6,179		6,294
Furniture and fixtures	2,361		3,054
Leasehold improvements	1,498		1,459
Plant and equipment	—		276

Assets in progress	—		7
	32,564		84,177
Accumulated depreciation and amortization	(19,845)		(26,166)
	$	12,719	$	58,011

Fair value measurement of financial assets and liabilities on a recurring basis (in thousands):

The following table shows a reconciliation from the opening balances to the closing balances for Level 3 fair values (in thousands):


	Loans to external parties		Prepayment derivative

Balance at December 31, 2023	$	—	$	—
Additions	—		2,226
Balance at March 31, 2024	—		2,226
Assumed in business combinations	474		—
Repayments	(294)		—
Foreign currency translation difference	14
Net change in fair value	—		504
Balance at March 31, 2025	$	194	$	2,730