v3.26.1
PROPERTY AND EQUIPMENT AND INTANGIBLE ASSETS
12 Months Ended
Mar. 31, 2026
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT AND INTANGIBLE ASSETS PROPERTY AND EQUIPMENT AND INTANGIBLE ASSETS
Property and equipment consisted of the following as of March 31, 2026 and 2025 (in thousands):
March 31,
20262025
Computer equipment, software, and domain names$3,039 $4,067 
Warehouse machinery and equipment21,603 18,613 
Furniture and fixtures846 2,415 
Leasehold improvements19,782 19,782 
Construction in process13 153 
Total property and equipment45,283 45,030 
Less: accumulated depreciation(28,100)(23,555)
Property and equipment—net
$17,183 $21,475 

Intangible assets consisted of the following as of March 31, 2026 and 2025 (in thousands):
March 31,
20262025
Internally developed software$4,270 $12,397 
Less: accumulated amortization(2,701)(6,971)
Intangible assets—net
$1,569 $5,426 
Total depreciation expense for property and equipment during the fiscal years ended March 31, 2026, 2025, and 2024 was $7.2 million, $6.7 million, and $7.9 million, respectively. Total amortization expense for internally developed software during the fiscal years ended March 31, 2026, 2025, and 2024 was $2.0 million, $4.5 million, and $4.7 million, respectively. Amortization expense related to finance leases amounted to $0.1 million, $0.2 million, and $0.2 million for fiscal years ended March 31, 2026, 2025, and 2024, respectively.
The Company recorded non-cash impairment of $1.1 million, $2.1 million and $2.6 million relating to internally developed software as part of a strategic shift to a new e-commerce platform for the fiscal years ended March 31, 2026 and 2025 and 2024, respectively. Depreciation, amortization and impairment expense is included in general and administrative expenses on the consolidated statements of operations and comprehensive loss.
As of March 31, 2026 and 2025, equipment that was leased under finance leases and included in property and equipment, net in the consolidated balance sheets was de minimis.