14. Stock-Based Compensation (Tables)
|
6 Months Ended |
12 Months Ended |
Sep. 30, 2018 |
Mar. 31, 2018 |
| Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract] |
|
|
| Weighted-average assumptions of fair value of employee stock options |
|
| |
|
Year Ended March 31, |
|
| |
|
2018 |
|
|
2017 |
|
| Fair value of the Company’s common stock on date of grant |
|
$ |
6.78 |
|
|
$ |
4.87 |
|
| Expected term |
|
|
6.42 yrs |
|
|
|
5.73 yrs |
|
| Risk-free interest rate |
|
|
2.04% |
|
|
|
1.91% |
|
| Dividend yield |
|
|
0.00% |
|
|
|
0.00% |
|
| Volatility |
|
|
120.8% |
|
|
|
126.0% |
|
| Fair value of options granted |
|
$ |
5.97 |
|
|
$ |
4.12 |
|
|
| Employee stock-based compensation expense |
| |
|
Three Months |
|
|
Six Months |
|
| |
|
Ended |
|
|
Ended |
|
| |
|
September
30, |
|
|
September
30, |
|
| |
|
2018 |
|
|
2017 |
|
|
2018 |
|
|
2017 |
|
| Cost of service revenue |
|
$ |
30,000 |
|
|
$ |
49,000 |
|
|
$ |
65,000 |
|
|
$ |
93,000 |
|
| Research and development |
|
|
29,000 |
|
|
|
45,000 |
|
|
|
61,000 |
|
|
|
90,000 |
|
| Selling, general and administrative |
|
|
467,000 |
|
|
|
333,000 |
|
|
|
747,000 |
|
|
|
682,000 |
|
| Total stock-based compensation |
|
$ |
526,000 |
|
|
$ |
427,000 |
|
|
$ |
873,000 |
|
|
$ |
865,000 |
|
|
| |
|
Year
Ended March 31, |
|
| |
|
2018 |
|
|
2017 |
|
| Cost of revenues |
|
$ |
169,000 |
|
|
$ |
248,000 |
|
| Research and development |
|
|
159,000 |
|
|
|
245,000 |
|
| Selling, general and administrative |
|
|
2,082,000 |
|
|
|
1,652,000 |
|
| Total stock-based compensation |
|
$ |
2,410,000 |
|
|
$ |
2,145,000 |
|
|
| Plan summary |
|
| |
|
|
|
|
Unvested |
|
|
|
|
| Plan |
|
Stock Options |
|
|
Restricted Stock |
|
|
Total |
|
| 2006 Plan |
|
|
163,000 |
|
|
|
– |
|
|
|
163,000 |
|
| 2011 Plan |
|
|
1,000,000 |
|
|
|
9,000 |
|
|
|
1,009,000 |
|
| 2016 Plan |
|
|
230,000 |
|
|
|
23,000 |
|
|
|
253,000 |
|
| |
|
|
1,393,000 |
|
|
|
32,000 |
|
|
|
1,425,000 |
|
| Stock-based awards available for grant as of March 31, 2018 |
|
|
|
|
|
|
|
|
|
|
1,455,000 |
|
|
| Schedule of option activity |
| |
|
Number
of Shares
|
|
|
Weighted- Average Exercise
Price
|
|
|
Weighted- Average Contractual
Term
|
|
|
Aggregate Intrinsic Value
|
|
| Outstanding at April 1, 2018 |
|
|
1,393,000 |
|
|
$ |
12.70 |
|
|
|
|
|
|
|
|
|
| Options granted |
|
|
159,000 |
|
|
|
2.64 |
|
|
|
|
|
|
|
|
|
| Options forfeited |
|
|
(33,000 |
) |
|
|
6.70 |
|
|
|
|
|
|
|
|
|
| Options expired |
|
|
(3,000 |
) |
|
|
18.44 |
|
|
|
|
|
|
|
|
|
| Outstanding at September 30, 2018 |
|
|
1,516,000 |
|
|
$ |
11.76 |
|
|
|
7.02 |
|
|
$ |
– |
|
| Exercisable at September 30, 2018 |
|
|
1,109,000 |
|
|
$ |
13.75 |
|
|
|
6.48 |
|
|
$ |
– |
|
|
| |
|
Number of
Shares
|
|
|
Weighted-
Average
Exercise Price
|
|
|
Weighted-
Average
Contractual Term
|
|
|
Aggregate
Intrinsic
Value
|
|
| Outstanding at April 1, 2017 |
|
|
899,000 |
|
|
$ |
17.87 |
|
|
|
|
|
|
|
|
|
| Options granted |
|
|
554,000 |
|
|
|
6.78 |
|
|
|
|
|
|
|
|
|
| Options exercised |
|
|
(1,000 |
) |
|
|
5.27 |
|
|
|
|
|
|
|
|
|
| Options forfeited |
|
|
(51,000 |
) |
|
|
6.78 |
|
|
|
|
|
|
|
|
|
| Options expired |
|
|
(8,000 |
) |
|
|
222.37 |
|
|
|
|
|
|
|
|
|
| Outstanding at March 31, 2018 |
|
|
1,393,000 |
|
|
$ |
12.70 |
|
|
|
7.45 |
|
|
$ |
– |
|
| Exercisable at March 31, 2018 |
|
|
796,000 |
|
|
$ |
17.32 |
|
|
|
6.35 |
|
|
$ |
– |
|
|
| Schedule of unvested restricted stock activity |
| |
|
Number of Shares
|
|
|
Weighted Average
Award Date
Fair Value per
Share
|
|
| Unvested restricted stock awards outstanding at April
1, 2018 |
|
|
32,000 |
|
|
$ |
6.46 |
|
| Restricted stock awards granted |
|
|
28,000 |
|
|
|
1.90 |
|
| Restricted stock awards forfeited |
|
|
(4,000 |
) |
|
|
6.97 |
|
| Restricted stock awards vested |
|
|
(16,000 |
) |
|
|
5.50 |
|
| Unvested restricted stock awards outstanding
at September 30, 2018 |
|
|
40,000 |
|
|
$ |
3.71 |
|
|
| |
|
Number of
Shares
|
|
|
Weighted
Average Award
Date Fair Value
per Share
|
|
| Unvested restricted stock awards outstanding at April 1, 2017 |
|
|
34,000 |
|
|
$ |
7.27 |
|
| Restricted stock awards granted |
|
|
199,000 |
|
|
|
5.58 |
|
| Restricted stock awards vested |
|
|
(201,000 |
) |
|
|
5.72 |
|
| Restricted stock awards forfeited |
|
|
– |
|
|
|
– |
|
| Unvested restricted stock awards outstanding at March 31, 2018 |
|
|
32,000 |
|
|
$ |
6.46 |
|
|