v3.26.1
INCOME TAXES (Tables)
 12 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
SCHEDULE OF PROFIT (LOSS) BEFORE TAXES

The components of net loss before the provision for income taxes are as follows (in thousands):

 

  

For the Year

Ended

March 31,

2026

  

For the Year

Ended

March 31,

2025

 
Domestic  $(27,066)  $(42,186)
Foreign   (7,268)   (6,293)
Total  $(34,334)  $(48,479)
SCHEDULE OF DEFERRED TAX ASSET/LIABILITY

The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets were as follows (in thousands):

 

  

March 31,

2026

  

March 31,

2025

 
Net operating loss carryforwards  $55,607   $48,702 
Research and development tax credits   2,506    2,197 
Research and development tax credit capitalization   6,572    8,066 
Other   (111)   (15)
Depreciation   (1,803)   (2,337)
Stock-based compensation   6,714    7,556 
Reserves and accruals   33    36 
Right-of-use asset   (282)   (298)
Lease liability   314    333 
           
Net deferred tax   69,550    64,240 
Valuation allowance   (69,550)   (64,240)
Net deferred tax asset  $-   $- 
SCHEDULE OF DIFFERENCE EFFECTIVE INCOME TAX RATE

The following table presents the principal reasons for the difference between the effective tax rate and the U.S. federal enacted statutory income tax rate of 21% for the year ended March 31, 2026:

 

   Amount   Percent 
   Year Ended 
   March 31, 2026 
   Amount   Percent 
U.S. federal statutory tax rate  $(7,210)   21.00%
Current state and local income taxes, net of federal benefit   -    - 
Foreign Tax Effects          
Ireland          
Change in valuation allowance   440    (1.28)
Other   235    (0.69)
Israel          
Change in valuation allowance   371    (1.08)
Other   101    (0.29)
Other foreign jurisdictions   88    (0.26)
Tax credits          
Research and development tax credits   (308)   0.90 
Changes in valuation allowance   3,759    (10.95)
Effect of cross-border tax laws          
Subpart F Income   7    (0.02)
Nontaxable or nondeductible items          
Share-based payment awards   1,878    (5.47)
Other   293    (0.85)
Other adjustments   346    (1.01)
           
Provision for income taxes  $-    0.00%
SCHEDULE OF STATUTORY US FEDERAL EFFECTIVE RATE

A reconciliation of income tax expense calculated at the federal enacted statutory income tax rate of 21% is as follows for the year ended March 31 2025:

 

   

March 31, 2025

 
Federal income tax at statutory rate    21.00%
State income tax, net of federal benefit    2.73
Permanent items    0.58
Non-deductible compensation    (10.45)
Change in valuation allowance    (10.46)
Research and development tax credits    0.12
Foreign tax rate differential    (0.65)
Other    (2.87)
Change to foreign NOL’s    - 
Effective income tax expense rate    0.00%