v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Mar. 31, 2025
Current assets:    
Cash and cash equivalents $ 39,828 $ 38,248
Restricted cash 423 7,746
Accounts receivable, net 1,226 1,352
Inventories 13,417 15,558
Deferred cost of revenue 5,972 5,173
Prepaid expenses and other current assets 29,120 34,630
Total current assets 89,986 102,707
Property and equipment, net 982 1,258
Operating lease right-of-use assets 452 533
Restricted cash, noncurrent 5,300 5,300
Internal-use software, net 19,066 19,396
Intangible assets, net 23,355 25,335
Other assets 5,187 5,365
Total assets 144,328 159,894
Current liabilities:    
Accounts payable 4,921 549
Accrued expenses and other current liabilities 38,422 15,499
Debt payable, current 25,000 0
Deferred revenue (includes related party amounts of $1,519 and $1,754, respectively) 41,057 49,347
Operating lease liabilities 1,978 7,308
Total current liabilities 111,378 72,703
Operating lease liabilities, noncurrent 123 205
Other liabilities 224 224
Total liabilities not subject to compromise 111,725 73,132
Liabilities subject to compromise (includes related party amounts of $2,237 and $2,255, respectively) 75,463 113,504
Total liabilities 187,188 186,636
Commitments and contingencies (Note 11)
Stockholders’ deficit    
Common stock, par value $0.0001 - Class A shares, 1,140,000,000 shares authorized, 25,431,244 and 20,340,344 shares issued and outstanding as of June 30, 2025 and March 31, 2025, respectively; Class B shares, 350,000,000 shares authorized, 2,110,250 and 7,099,036 shares issued and outstanding as of June 30, 2025 and March 31, 2025, respectively (1) [1] 3 3
Additional paid-in capital [1] 2,434,938 2,427,228
Accumulated deficit (2,477,801) (2,453,973)
Total stockholders’ deficit (42,860) (26,742)
Total liabilities and stockholders’ deficit $ 144,328 $ 159,894
[1] Amounts have been adjusted to reflect the reverse stock split that became effective on October 16, 2024. Refer to Note 12, “Stockholders' Equity,” for further information about the reverse stock split.