v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:      
Net income (loss) $ 12,394,000 $ (19,470,000) $ (49,244,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 9,453,000 9,923,000 10,544,000
Amortization of intangible assets 335,000 477,000 1,075,000
Amortization of debt issuance costs 2,452,000 2,222,000 2,165,000
Amortization of interest on contract liabilities, net 749,000 749,000 933,000
Accrued interest on convertible notes, related party 3,873,000 3,521,000 3,200,000
Loss on extinguishment of debt 0 0 168,000
Amortization of core premiums paid to customers 10,797,000 9,826,000 10,181,000
Amortization of finished goods premiums paid to customers 1,104,000 912,000 782,000
Non-cash lease expense 10,325,000 9,540,000 10,255,000
Foreign exchange impact of lease liabilities and forward contracts (8,924,000) 15,892,000 (3,814,000)
Foreign currency remeasurement (949,000) 2,262,000 65,000
Change in fair value of compound net derivative liability (1,130,000) 60,000 (1,020,000)
Gain on short-term investments (252,000) (105,000) (347,000)
Net provision for inventory reserves 9,891,000 15,009,000 16,233,000
Net provision for customer payment discrepancies 570,000 1,507,000 1,452,000
Net provision for (recovery of) doubtful accounts 94,000 42,000 (133,000)
Deferred income taxes 548,000 (1,805,000) 29,564,000
Share-based compensation expense 5,635,000 3,877,000 4,700,000
Loss on disposal of plant and equipment 43,000 5,000 9,000
Change in operating assets and liabilities:      
Accounts receivable (21,625,000) 2,407,000 22,687,000
Inventory (48,596,000) 19,615,000 (53,585,000)
Inventory unreturned 2,099,000 1,723,000 (3,666,000)
Income tax receivable (974,000) 1,450,000 (3,501,000)
Prepaid expenses and other current assets (1,377,000) (2,259,000) 3,100,000
Other assets 327,000 (1,509,000) (601,000)
Accounts payable and accrued liabilities 27,426,000 (13,280,000) 47,264,000
Customer finished goods returns accrual (4,596,000) (3,676,000) 222,000
Contract assets, net (11,277,000) (29,981,000) (14,221,000)
Contract liabilities, net 29,746,000 29,381,000 14,664,000
Operating lease liabilities (10,195,000) (9,088,000) (8,702,000)
Other liabilities 1,192,000 (3,750,000) (1,257,000)
Net cash provided by operating activities 19,158,000 45,477,000 39,172,000
Cash flows from investing activities:      
Purchase of plant and equipment (3,696,000) (4,578,000) (1,000,000)
Proceeds from sales of plant and equipment 0 49,000 0
Redemptions of short term investments 106,000 60,000 521,000
Net cash used in investing activities (3,590,000) (4,469,000) (479,000)
Cash flows from financing activities:      
Borrowings under revolving loan 730,776,000 541,423,000 82,005,000
Repayments under revolving loan (726,895,000) (578,636,000) (99,205,000)
Repayments of term loan 0 0 (13,125,000)
Payments for debt issuance costs 0 (15,000) (3,973,000)
Payments on finance lease obligations (1,517,000) (1,705,000) (1,862,000)
Exercise of stock options 101,000 0 0
Cash used to net share settle equity awards (2,094,000) (890,000) (279,000)
Repurchase of common stock, including fees (11,351,000) (4,832,000) 0
Net cash used in financing activities (10,980,000) (44,655,000) (36,439,000)
Effect of exchange rate changes on cash and cash equivalents 633,000 (898,000) 124,000
Net increase (decrease) in cash and cash equivalents 5,221,000 (4,545,000) 2,378,000
Cash and cash equivalents — Beginning of year 9,429,000 13,974,000 11,596,000
Cash and cash equivalents — End of year 14,650,000 9,429,000 13,974,000
Supplemental disclosures of cash flow information:      
Cash paid for interest, net 39,807,000 48,724,000 53,797,000
Cash paid for income taxes, net of refunds 8,080,000 5,858,000 9,558,000
Cash paid for operating leases 14,363,000 13,356,000 13,358,000
Cash paid for finance leases 1,814,000 1,896,000 2,081,000
Plant and equipment acquired under finance lease 2,821,000 1,412,000 745,000
Assets acquired under operating leases 550,000 3,972,000 1,603,000
Non-cash capital expenditures $ 477,000 $ 80,000 $ 16,000