Quarterly report pursuant to Section 13 or 15(d)

Inventories (Notes)

Inventories (Notes)
9 Months Ended
Dec. 31, 2020
Inventory, Net [Abstract]  
Inventories Inventories
Inventories are stated at the lower of cost, on a first-in, first-out basis, or net realizable value. The components of net inventories are as follows: 
(in thousands) December 31, 2020 March 31, 2020
Raw materials $ 1,841  $ 2,188 
Finished goods 3,901  4,619 
    Total inventories $ 5,742  $ 6,807 

The Company records provisions against inventory for excess and obsolete inventory, which are determined based on the Company's best estimates of future demand, product lifecycle status and product development plans. These provisions reduce the inventory cost basis. The charges for the provision for excess and obsolete inventory for the three months ended December 31, 2020 and December 31, 2019, were both negligible. The Company recorded provisions for excess and obsolete inventory
with charges of $0.3 million and $2.0 million in the nine months ended December 31, 2020, and December 31, 2019, respectively. These costs are presented in Cost of revenue on the Condensed Consolidated Statements of Operations. The Company believes the estimates and assumptions underlying its provisions are reasonable. However, there is risk that additional charges may be necessary if future demand is less than current forecasts due to rapid technological changes, uncertain customer requirements, or other factors.