v3.26.3
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Mar. 31, 2025
Current assets:    
Cash $ 784 $ 1,407
Accounts receivable, net of provision for credit losses of $163 and $53, respectively 5,428 6,102
Inventory, net 10,295 12,456
Prepaid expenses and other assets 305 294
Total current assets 16,812 20,259
Property and equipment, net 1,583 1,594
Operating lease right-of-use assets 349 558
Intangible assets, net [1] 707 684
Deposits 47 47
Deferred financing costs 823 236
Total assets 20,321 23,378
Current liabilities:    
Line of credit, current 8,413
Accounts payable 9,984 6,453
Accrued expenses 2,422 1,720
Operating lease liability, current 219 213
Total current liabilities 12,625 16,799
Line of credit 7,969
Operating lease liability, net of current portion 152 373
Notes payable to Stauss Family Administrative Trust, net of current portion 667 676
Total liabilities 21,413 17,848
 Commitments and Contingencies (Note 13)  
Stockholders’ (deficit) equity:    
Common stock; at $0.0001 par value, 200,000,000 shares authorized, 10,360,924 and 10,306,426 shares issued and outstanding as of March 31, 2026 and March 31, 2025, respectively 1 1
Additional paid-in capital 8,789 8,532
Accumulated other comprehensive loss (177) (347)
Accumulated deficit (11,369) (4,297)
Total equity attributable to ZRCN Inc. stockholders (2,756) 3,889
Non-controlling interests in variable interest entities 1,664 1,641
Total stockholders’ (deficit) equity (1,092) 5,530
Total liabilities and stockholders’ equity $ 20,321 $ 23,378
[1] Finite-lived intangible assets have estimated useful lives of five to twenty years and are being amortized to operating expenses on a straight-line basis.