v3.26.1
Note 10 - Intangible Assets
12 Months Ended
Mar. 31, 2026
Notes to Financial Statements  
Intangible Asset [Text Block]

10. Intangible Assets

 

Intangible assets at  March 31, 2026 and 2025 consisted of the following (in thousands):

 

  

2026

  

2025

    
  

Gross Amount

  

Accumulated Amortization

  

Net Book Value

  

Gross Amount

  

Accumulated Amortization

  

Net Book Value

  

Estimated Useful Life

 

Backlog

  4,008   (2,038)  1,970   1,381   (1,381)    2 

Trade names and trademarks

  1,800      1,800   1,800      1,800  

Indefinite

 

Customer relationships

  18,920   (9,795)  9,126   10,880   (7,901)  2,980  5-10 

Core technology and know-how

  5,970   (5,317)  653   5,970   (4,834)  1,136  5-10 

Intangible assets

 $30,698  $(17,150) $13,548  $20,031  $(14,116) $5,916    

 

The Company recorded intangible amortization expense of $3.0 million, $2.4 million, and $2.2 million for the fiscal years ended March 31, 20262025, and 2024 respectively. Included in these figures is $0.6 million for the fiscal year ended March 31, 2026, $0.7 million for the fiscal year ended March 31, 2025 and less than $0.1 million for the fiscal year ended March 31, 2024 related to intangible amortization related to backlog that is reported in cost of revenues. 

 

Expected future amortization expense related to intangible assets is as follows (in thousands):

 

Fiscal years ending March 31,

 

Total

 

2027

 $3,812 

2028

  3,443 

2029

  2,133 

2030

  1,208 

2031

  724 

Thereafter

  428 

Total

 $11,748 

 

The Company's intangible assets relate entirely to the Grid business segment operations in the United States and Brazil. The following table summarizes the Company's intangibles by geography (in thousands):

 

  

March 31, 2026

  

March 31, 2025

 

Intangible assets by geography:

        

U.S.

 $4,567  $5,916 

Brazil

  8,980    

Total

 $13,548  $5,916