Quotient (QTNTQ) 10-Q 14 Nov 22 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 30, 2022	Nov. 09, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Trading Symbol	QTNT
Title of 12(b) Security	Ordinary Shares, nil par value
Security Exchange Name	NASDAQ
Entity Registrant Name	QUOTIENT LIMITED
Entity Central Index Key	0001596946
Current Fiscal Year End Date	--03-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		3,531,710
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-36415
Entity Tax Identification Number	00-0000000
Entity Incorporation, State or Country Code	Y9
Entity Address, Address Line One	Business Park Terre Bonne
Entity Address, Address Line Two	Route de Crassier 13
Entity Address, City or Town	Eysins
Entity Address, Country	CH
Entity Address, Postal Zip Code	1262
City Area Code	011-41
Local Phone Number	22-716-9800

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Current assets:
Cash and cash equivalents	$ 24,529	$ 65,059
Short-term investments	2,480	2,626
Trade accounts receivable, net	5,177	6,272
Inventories	12,758	22,036
Prepaid expenses and other current assets	7,981	5,761
Total current assets	52,925	101,754
Restricted cash	819	8,744
Long-term investments	14,412	15,467
Property and equipment, net	28,692	33,242
Operating lease right-of-use assets	26,495	29,411
Intangible assets, net	413	520
Deferred income taxes	141	123
Other non-current assets	4,008	4,728
Total assets	127,905	193,989
Current liabilities:
Accounts payable	3,750	4,524
Accrued compensation and benefits	6,675	8,503
Accrued expenses and other current liabilities	15,045	15,729
Current portion of operating lease liability	3,753	3,535
Current portion of finance lease obligation	276	537
Total current liabilities	29,499	32,828
Long-term debt, less current portion	221,280	233,313
Derivative liabilities	2,691	13,515
Operating lease liability, less current portion	25,934	28,753
Finance lease obligation, less current portion	285	388
Deferred income taxes	1,702	1,988
Defined benefit pension plan obligation	4,886	4,777
Other long term liabilities	668	0
7% Cumulative redeemable preference shares	23,050	22,525
Total liabilities	309,995	338,087
Commitments and contingencies
Shareholders' equity (deficit):
Ordinary shares (nil par value) 3,396,118 and 2,565,284 issued and outstanding at September 30, 2022 and March 31, 2022 respectively	558,639	540,736
Additional paid in capital	48,068	46,399
Accumulated other comprehensive loss	21,039	(6,191)
Accumulated deficit	809,836	725,042
Total shareholders' equity (deficit)	(182,090)	(144,098)
Total liabilities and shareholders' equity (deficit)	$ 127,905	$ 193,989

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	6 Months Ended	12 Months Ended
	Sep. 30, 2022	Mar. 31, 2022
Statement of Financial Position [Abstract]
Preference share dividend percentage	7%	7%
Common stock, par value
Common stock, shares issued	3,396,118	2,565,284
Common stock, shares outstanding	3,396,118	2,565,284

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue:
Total revenue	$ 8,856	$ 9,467	$ 17,670	$ 18,556
Cost of revenue	(21,117)	(4,875)	(27,237)	(9,652)
Gross margin	(12,261)	4,592	(9,567)	8,904
Operating expenses:
Sales and marketing	(3,513)	(2,640)	(6,819)	(5,133)
Research and development, net of government grants	(14,261)	(15,754)	(28,407)	(29,285)
General and administrative expense:
Compensation expense in respect of share options and management equity incentives	(35)	(1,404)	(1,669)	(3,227)
Other general and administrative expenses	(7,661)	(8,618)	(17,064)	(16,971)
Total general and administrative expense	(7,696)	(10,022)	(18,733)	(20,198)
Total operating expense	(25,470)	(28,416)	(53,959)	(54,616)
Operating loss	(37,731)	(23,824)	(63,526)	(45,712)
Other (expense) income:
Interest income (expense), net	7,386	(9,352)	(1,188)	(12,354)
Other, net	(15,214)	5,916	(19,580)	4,184
Other income (expense), net	(7,828)	(3,436)	(20,768)	(8,170)
Loss before income taxes	(45,559)	(27,260)	(84,294)	(53,882)
Provision for income taxes	(367)	155	(500)	(515)
Net loss	(45,926)	(27,105)	(84,794)	(54,397)
Other comprehensive income (loss):
Change in fair value of foreign currency cash flow hedges	0	(231)	0	(343)
Change in unrealized gain on short-term investments	19	(72)	26	(193)
Foreign currency gain	14,846	1,852	27,176	2,010
Provision for pension benefit obligation	14	14	28	29
Other comprehensive income (loss), net	14,879	1,563	27,230	1,503
Comprehensive loss	(31,047)	(25,542)	(57,564)	(52,894)
Net loss available to ordinary shareholders - basic	(45,926)	(27,105)	(84,794)	(54,397)
Net loss available to ordinary shareholders - diluted	$ (45,926)	$ (33,858)	$ (84,794)	$ (54,397)
Loss per share - basic	$ (10.81)	$ (10.67)	$ (24.67)	$ (21.44)
Loss per share - diluted	$ (10.81)	$ (11.28)	$ (24.67)	$ (21.44)
Weighted-average shares outstanding - basic	4,249,675	2,539,191	3,436,702	2,536,992
Weighted-average shares outstanding - diluted	4,249,675	3,002,154	3,436,702	2,536,992
Product Sales [Member]
Revenue:
Total revenue	$ 8,856	$ 9,284	$ 17,670	$ 18,325
Other Revenues [Member]
Revenue:
Total revenue	$ 0	$ 183	$ 0	$ 231

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Ordinary Shares [Member]	Additional paid in Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Deficit [Member]
Beginning balance at Mar. 31, 2021	$ (35,581)	$ 540,813	$ 38,116	$ (14,598)	$ (599,912)
Beginning balance, Shares at Mar. 31, 2021		2,531,610
Issue of shares upon exercise of incentive share options and vesting of RSUs	(80)	$ (80)
Issue of shares upon exercise of incentive share options and vesting of RSUs, Shares		8,180
Net loss	(54,397)				(54,397)
Change in fair value of effective portion of foreign currency cash flow hedges	(343)			(343)
Change in unrealized gain in/on short-term investments	(193)			(193)
Foreign currency cumulative translation adjustment	2,010			2,010
Provision for pension benefit obligation	29			29
Other comprehensive loss	1,503			1,503
Stock-based compensation	3,227		3,227
Ending balance at Sep. 30, 2021	(85,328)	$ 540,733	41,343	(13,095)	(654,309)
Ending balance, Shares at Sep. 30, 2021		2,539,790
Beginning balance at Jun. 30, 2021	(61,189)	$ 540,734	39,939	(14,658)	(627,204)
Beginning balance, Shares at Jun. 30, 2021		2,538,179
Issue of shares upon exercise of incentive share options and vesting of RSUs	(1)	$ (1)
Issue of shares upon exercise of incentive share options and vesting of RSUs, Shares		1,611
Net loss	(27,105)				(27,105)
Change in fair value of effective portion of foreign currency cash flow hedges	(231)			(231)
Change in unrealized gain in/on short-term investments	(72)			(72)
Foreign currency cumulative translation adjustment	1,852			1,852
Provision for pension benefit obligation	14			14
Other comprehensive loss	1,563			1,563
Stock-based compensation	1,404		1,404
Ending balance at Sep. 30, 2021	(85,328)	$ 540,733	41,343	(13,095)	(654,309)
Ending balance, Shares at Sep. 30, 2021		2,539,790
Beginning balance at Mar. 31, 2022	$ (144,098)	$ 540,736	46,399	(6,191)	(725,042)
Beginning balance, Shares at Mar. 31, 2022	2,565,284	2,565,284
Issue of shares and pre-funded warrants, net of issue costs, Amount	$ 17,903	$ 17,903
Issue of shares and pre-funded warrants, net of issue costs, Shares		811,458
Issue of shares upon exercise of incentive share options and vesting of RSUs, Shares		19,376
Net loss	(84,794)				(84,794)
Change in fair value of effective portion of foreign currency cash flow hedges	0
Change in unrealized gain in/on short-term investments	26			26
Foreign currency cumulative translation adjustment	27,176			27,176
Provision for pension benefit obligation	28			28
Other comprehensive loss	27,230			27,230
Stock-based compensation	1,669		1,669
Ending balance at Sep. 30, 2022	$ (182,090)	$ 558,639	48,068	21,039	(809,836)
Ending balance, Shares at Sep. 30, 2022	3,396,118	3,396,118
Beginning balance at Jun. 30, 2022	$ (151,078)	$ 558,639	48,033	6,160	(763,910)
Beginning balance, Shares at Jun. 30, 2022		3,392,088
Issue of shares upon exercise of incentive share options and vesting of RSUs, Shares		4,030
Net loss	(45,926)				(45,926)
Change in fair value of effective portion of foreign currency cash flow hedges	0
Change in unrealized gain in/on short-term investments	19			19
Foreign currency cumulative translation adjustment	14,846			14,846
Provision for pension benefit obligation	14			14
Other comprehensive loss	14,879			14,879
Stock-based compensation	35		35
Ending balance at Sep. 30, 2022	$ (182,090)	$ 558,639	$ 48,068	$ 21,039	$ (809,836)
Ending balance, Shares at Sep. 30, 2022	3,396,118	3,396,118

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (DEFICIT) (Parenthetical)	6 Months Ended
	Sep. 30, 2022 USD ($)
Statement of Stockholders' Equity [Abstract]
Issue of shares and pre-funded warrants, issue costs	$ 2,097

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
OPERATING ACTIVITIES:
Net loss	$ (84,794)	$ (54,397)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, amortization and loss on disposal of fixed assets	2,914	3,850
Share-based compensation	1,669	3,227
Increase in deferred lease rentals	773	347
Swiss pension obligation	432	354
Amortization of debt discount, royalty, and unrealized foreign currency loss (gains) on debt	29,105	2,233
Impairment Of Investments	1,201	0
Change in fair value of derivative liabilities	(12,997)	(7,270)
Accrued preference share dividends	525	525
Provision for income taxes	500	605
Net change in assets and liabilities:
Trade accounts receivable, net	414	252
Inventories	7,192	(3,091)
Accounts payable and accrued liabilities	(120)	3,558
Accrued compensation and benefits	(929)	(5,953)
Other assets and liabilities	(10,179)	(2,934)
Net cash used in operating activities	(64,294)	(58,694)
INVESTING ACTIVITIES:
Increase in short-term investments	0	(4,500)
Realization of short-term investments	0	49,232
Purchase of property and equipment	(1,100)	(1,716)
Net cash (used in) provided by investing activities	(1,100)	43,016
FINANCING ACTIVITIES:
Repayment of finance leases	(328)	(341)
Proceeds from issuance of long-term debt	0	104,222
Debt issuance costs	0	(3,732)
Repayment of long-term debt	0	(12,083)
Proceeds from (cost of) issuance of ordinary shares and warrants	17,903	(80)
Net cash provided by financing activities	17,575	87,986
Effect of exchange rate fluctuations on cash and cash equivalents	(635)	2,275
Change in cash and cash equivalents	(48,455)	74,583
Beginning cash and cash equivalents	73,803	54,697
Total cash, cash equivalents and restricted cash	25,348	129,280
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	24,529	120,978
Restricted cash	819	8,302
Total cash, cash equivalents and restricted cash	$ 25,348	$ 129,280

Description of Business and Bas

Description of Business and Basis of Presentation	6 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Description of Business and Basis of Presentation	Note 1. Description of Business and Basis of Presentation Description of Business The principal activity of Quotient Limited (the "Company") and its subsidiaries (the "Group") is the development, manufacture and sale of products for the global transfusion diagnostics market. Products manufactured by the Group are sold to hospitals, blood banking operations and other diagnostics companies worldwide. Through our subsidiary Alba Bioscience Limited ("Alba"), we manufacture, distribute and sell conventional reagent products used primarily to identify blood group antigens and antibodies in donor and patient blood and to perform daily quality assurance testing for third-party blood grouping instrument platforms. For several years we have invested heavily in an innovative blood testing technology that we call MosaiQ. Since our initial public offering, our focus has been on developing our proprietary MosaiQ technology for use in blood grouping and donor disease screening, which is commonly referred to as transfusion diagnostics. More recently, we have explored MosaiQ's potential for use beyond transfusion diagnostics in the larger clinical diagnostics market. Specifically, as discussed in our periodic reports filed with the SEC, we recently have expanded our focus to include potential applications for MosaiQ in the autoimmune and allergy clinical diagnostics markets. Our Alba business is profitable. To date, our MosaiQ business has incurred substantial losses and we expect it will continue to incur losses unless and until it successfully commercializes one or more products. Updates on Liquidity, Financial Condition and Company Strategy Recent developments have called into question our ability to execute successfully on this business strategy and indeed raises substantial doubt on our ability to continue as a going concern. While we have made substantial progress toward the commercialization of our MosaiQ-based transfusion diagnostics products, that progress has been expensive and has required us to continuously raise capital. Since earlier this year we have pursued various potential methods of raising the funds that we require to complete the commercialization of our products. Adverse conditions in the U.S. and global capital markets made our pursuit of capital very difficult. To date, we have been unable to raise additional capital in the amounts we require. We are now close to running out of cash and close to being forced to cease operations and liquidate our MosaiQ business. As of September 30, 2022, we had approximately $ 41.4 million of cash, cash equivalents and investments, compared with approximately $ 63.2 million of cash, cash equivalents and investments as of June 30, 2022. Our investments include approximately $ 16.9 million of cash invested in two funds that have suspended redemptions, and there can be no assurance that we will receive future distributions of cash from these funds. Because of our liquidity constraints, we have not made the interest payment on our Senior Secured Notes that was due on October 17, 2022, in the amount of $ 4.0 million. Under the indenture governing our Senior Secured Notes, it is an "Event of Default" if our failure to make the interest payment continues for 30 days (in other words, if the payment has not been made by the close of business on November 16, 2022). We have continued to hold discussions with various parties, including certain of our noteholders, about alternative means of obtaining access to the funding that we now urgently need. In these discussions, to date: • The noteholders have agreed to amend the Senior Secured Notes indenture to eliminate our obligation to make a cash interest payment otherwise due on October 17, 2022, and to require us instead to make that interest payment by issuing new debt securities to the noteholders. Because of this amendment, our failure to make the October 17, 2022 interest payment when due will no longer be a default • Certain of the holders of our Senior Secured Notes have committed to provide bridge funding in the form of indebtedness in the amount of $ 3.7 million, when our available cash on hand declines below $ 7.0 million. The noteholders' obligations to fund the loan will be, subject to certain documentary conditions and deliverables We continue to have constructive discussions with our noteholders regarding a restructuring of our outstanding indebtedness as well as additional funding, although noteholders are not presently contractually committed to provide or negotiate this funding and there is no assurance they will do so. We understand that the noteholders' willingness to continue to pursue the potential funding arrangements summarized above is premised on a change in our business strategy in which we would suspend our activities focused on the commercialization of our transfusion diagnostics products and would instead focus in the near term exclusively on development and commercialization of MosaiQ products for the autoimmune and allergy clinical diagnostics markets. This change in strategy would involve our implementation of significant cost reductions, including reductions in employee headcount. There is no assurance that our negotiations with the noteholders or with other parties will result in definitive agreements or in our receipt of funding. If we are unable to reach definitive agreements and consummate a funding in the next few weeks, we may be required to shut down and liquidate our MosaiQ business or, possibly, to seek protection under applicable bankruptcy or insolvency laws. In either case, we expect that a restructuring of our balance sheet, the procurement of additional funding, or a bankruptcy proceeding, would likely result in the extinguishment, through cancellation for no consideration or through dilution, of all of our outstanding equity interests, including any outstanding options or warrants. To the extent we liquidate our MosaiQ business and/or commence an insolvency or bankruptcy proceeding, we expect we would seek to continue operating our Alba business but we would have no realistic prospect of repaying all our existing liabilities in full. Basis of Presentation The condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") and are unaudited. In accordance with those rules and regulations, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States ("GAAP") for complete financial statements. In November 2022, Quotient implemented a reverse stock split of its shares of common stock in a ratio of 1-for-40. The number of shares, loss per share amounts, repurchase price per share amounts, and Common stock and Additional paid-in capital balances have been retroactively adjusted for all periods presented in this Quarterly Report on Form 10-Q to give effect to the reverse stock split as if it occurred at the beginning of the first period presented. See Note 6 – Ordinary and Preference Shares for additional information. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all normal and recurring adjustments considered necessary to present fairly the financial position, results of operations, changes in shareholders’ equity and cash flows for the interim periods presented. The March 31, 2022 balance sheet was derived from audited financial statements, but does not include all disclosures required by GAAP. However, the Company believes that the disclosures are adequate to make the information presented not misleading. The financial statements should be read in conjunction with the audited consolidated financial statements at and for the year ended March 31, 2022 included in the Company’s Annual Report on Form 10-K for the year then ended. The results of operations for the three and six month period ended September 30, 2022 are not necessarily indicative of the results of operations that may be expected for the year ending March 31, 2023 and any future period. The Company has incurred net losses and negative cash flows from operations in each year since it commenced operations in 2007 and had an accumulated deficit of $ 809.8 million as of September 30, 2022. At September 30, 2022, the Company had available cash, cash equivalents, and investments of $ 41.4 million. Our investments include approximately $16.9 million of cash invested in two funds that have suspended redemptions. As discussed above, under "Updates on Liquidity, Financial Condition and Company Strategy," there is substantial doubt about our ability to continue as a going concern. Use of Estimates The preparation of unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited condensed consolidated financial statements and accompanying notes. As of the date of issuance of these unaudited condensed consolidated financial statements, the Company is not aware of any specific event or circumstance that would require the Company to further update estimates, judgments or revise the carrying value of any assets or liabilities. These estimates may change, as new events occur and additional information is obtained, and are recognized in the condensed consolidated financial statements as soon as they become known. Actual results could differ from those estimates and any such differences may be material to the Company’s condensed consolidated financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies Restricted Cash Restricted cash comprised $ 0 at September 30, 2022 and $ 8.0 million at March 31, 2022, held in a cash reserve account pursuant to the indenture governing the Company’s 12 % Senior Secured Notes ("the Secured Notes") and $ 0.8 and $ 0.7 million held at September 30, 2022 and March 31, 2022, respectively, held in a restricted account as security for the property rental obligations of the Company’s Swiss subsidiary. Concentration of Credit Risks and Other Uncertainties The Company evaluated the investments in the CSAM managed funds for impairment, in accordance with ASC 321-10-35, Investments – Equity Securities , and determined that its investment in two of the funds were impaired. We recorded $ 0.2 million and $ 1.2 million in impairment expenses in the three and six month periods ended September 30, 2022 related to litigation and administrative costs expected to be incurred by Credit Suisse which Credit Suisse communicated would be deducted from investor recoveries. The Company views the liquidation of the supply chain finance funds as a fluid situation with a significant amount of valuation uncertainty. The Company will closely monitor the situation and in the event that new information is released that provides valuation clarity, it will evaluate the accounting implications accordingly. The Company believes, and has advised Credit Suisse, that any losses on the supply chain funds should be borne by Credit Suisse. The Company will pursue all available options to recoup the full amount of its investment in the supply chain funds prior to liquidation. The Company’s main financial institutions for banking operation held all of the Company’s cash and cash equivalents as of September 30, 2022 and March 31, 2022. Revenue Recognition In the three and six month period ended September 30, 2022, revenue recognized from performance obligations related to prior periods was not material. Other than those described in Note 1 to the audited annual Consolidated Financial statements for the year ended March 31, 2022, there were no other material revenues to be recognized in future periods related to remaining performance obligations at September 30, 2022. The Company’s other significant accounting policies are described in Note 1 to the audited annual Consolidated Financial Statements for the year ended March 31, 2022 included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2022. There have been no significant changes to these policies that have had a material impact on the Company's condensed consolidated financial statements and related notes . Recently Issued Pronouncements There are no recently issued accounting standards that are ex pected to have a material impact on our condensed consolidated financial statements .

Debt

Debt	6 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt	Note 3. Debt Total debt comprises: September 30, March 31, Secured Notes $ 132,917 $ 132,917 Debt discount, net of amortization ( 13,927 ) ( 13,854 ) Deferred debt costs, net of amortization ( 2,238 ) ( 2,678 ) Carrying value Secured Notes 116,752 116,385 Royalty liability 24,938 40,076 Convertible Notes 105,000 105,000 Debt discount, net of amortization ( 22,571 ) ( 24,968 ) Deferred debt costs, net of amortization ( 2,839 ) ( 3,180 ) Carrying value Convertible Notes 79,590 76,852 Total Debt $ 221,280 $ 233,313 The Company’s debt at September 30, 2022 and March 31, 2022 comprises the Secured Notes, the royalty liability, and the Convertible Notes. Secured Notes On October 14, 2016 , the Company completed the private placement of up to $ 120 million aggregate principal amount of the Secured Notes and entered into an indenture governing the Secured Notes with the guarantors party thereto and U.S. Bank National Association, a national banking association, as trustee and collateral agent. The Company issued $ 84 million aggregate principal amount of the Secured Notes on October 14, 2016 and an additional $ 36 million aggregate principal amount of the Secured Notes on June 29, 2018. On December 18, 2018, the Company also completed certain amendments to the indenture governing the Secured Notes. The amendments included an increase to the aggregate principal amount of Secured Notes that can be issued under the indenture from $ 120 million to up to $ 145 million following the European CE Marking of the Company’s initial MosaiQ IH Microarray. On April 30, 2019, the Company was notified that it had received the European CE Marking of the initial MosaiQ IH Microarray and, on May 15, 2019, the Company issued the additional $ 25 million of Secured Notes. As discussed above, because of our liquidity constraints, we have not made the interest payment on our Senior Secured Notes that was due on October 17, 2022, in the amount of $ 4.0 million. Under the indenture governing our Senior Secured Notes, it is an "Event of Default" if our failure to make the interest payment continues for 30 days (in other words, if the payment has not been made by the close of business on November 16, 2022). The noteholders have agreed to amend the Senior Secured Notes indenture to eliminate our obligation to make a cash interest payment otherwise due on October 17, 2022, and instead make a payment in kind through the issuance of new debt securities. Because of this amendment, our failure to make the October 17, 2022 interest payment when due will no longer be a default. The obligations of the Company under the indenture and the Secured Notes are unconditionally guaranteed on a secured basis by the guarantors, which include all the Company’s subsidiaries, and the indenture governing the Secured Notes contains customary events of default. The Company and its subsidiaries must also comply with certain customary affirmative and negative covenants, including a requirement to maintain six-months of interest in a cash reserve account maintained with the collateral agent. Upon the occurrence of a Change of Control, subject to certain conditions, or certain Asset Sales (each, as defined in the indenture), holders of the Secured Notes may require the Company to repurchase for cash all or part of their Secured Notes at a repurchase price equal to 101 % or 100 %, respectively, of the principal amount of the Secured Notes to be repurchased, plus accrued and unpaid interest to the date of repurchase. Interest on the Secured Notes accrues at a rate of 12 % per annum and is payable semi-annually on April 15 and October 15 of each year commencing on April 15, 2017 . On April 15, 2021 , the Company made a $ 12.1 million principal payment on the Secured Notes. Additionally, principal payments were due on each April 15 and October 15 until April 15, 2024 pursuant to a fixed amortization schedule. The Company paid $ 8.7 million of the total proceeds of the three issuances into the cash reserve account maintained with the collateral agent under the terms of the indenture. Following the April 15, 2021 repayment of the Secured Notes the balance held in the cash reserve account was reduced to $ 8.0 million. On October 13, 2021, the Company received consents from all of the holders (the "Consenting Holders") of its Secured Notes issued pursuant to the Indenture, dated as of October 14, 2016 (as subsequently amended, the "Indenture"), by and among the Company, the guarantors party thereto and U.S. Bank National Association, a national banking association, as trustee and collateral agent, to certain amendments to the indenture governing the Secured Notes (the "Indenture Amendments") pursuant to the fourth supplemental indenture, dated as of October 13, 2021 (the "Fourth Supplemental Indenture"). The Indenture Amendments included an 18-month extension of the final maturity of the Secured Notes to October 2025 and a revision of the Notes’ principal amortization schedule. The Indenture Amendments also changed the redemption prices for Notes redeemed pursuant to the optional redemption provisions of the Indenture. The Secured Notes may be redeemed from and after October 14, 2021 at redemption prices beginning at 106 % of par and declining over time to 100.0 % for redemptions occurring from and after April 14, 2024. The interest rate on the Secured Notes and the financial and other covenants in the Indenture remained unchanged. In consideration for the Consenting Holders’ consents to the Indenture Amendments, the Company agreed among other things to issue them (i) an aggregate of 23,319 of the Company’s ordinary shares, nil par value per share (the "Consent Shares") and (ii) 5-year warrants to purchase an aggregate of 46,100 of the Company’s ordinary shares for $ 160 per share (the " 2021 Consent Warrants"). The Company filed a registration statement with the SEC covering resales of the Consent Shares and the shares issuable on exercise of the 2021 Consent Warrants. The fair value of Consent Shares not yet issued are included in accrued expenses and other current liabilities and the fair value of 2021 Consent Warrants is included in derivative liabilities within our condensed consolidated balance sheet. Changes in fair value are recognized within Other, net in the accompanying condensed consolidated financial statements. On July 6, 2022, the Company received consents from the Consenting Holders of its Secured Notes issued pursuant to the Indenture, dated as of October 14, 2016, by and among the Company, the guarantors party thereto and U.S. Bank National Association, a national banking association, as trustee and collateral agent, to Indenture Amendments pursuant to the sixth supplemental indenture, dated as of July 6, 2022 (the "Sixth Supplemental Indenture"). The Sixth Supplemental Indenture includes a change to the amortization payment schedule of the Secured Notes from requiring semi-annual payments ranging from $ 12.1 million to $ 24.2 million beginning in April 2023, to requiring quarterly payments of $ 2.5 million beginning on July 15, 2024 and ending on July 15, 2025, with the remaining principal balance due on October 15, 2025, which will reduce expected amortization payments by $ 93.0 million over the next 36 months prior to the payment of the remaining principal balance at maturity. It removes the requirement that we maintain a cash reserve account for the benefit of holders of the Secured Notes, and adds a covenant that we maintain a minimum liquidity of at least $ 8.0 million, comprised of cash and certain other eligible investments, as of the end of each fiscal quarter. It p rovides that 40% of the net cash proceeds from a sale of all or a material portion of our Alba business, subject to certain exceptions, will be applied to repay Senior Secured Notes and the remaining 60% may be used by us to fund operating expenses, capital expenditures and other investments permitted by the Sixth Supplemental Indenture. We have also agreed that the holders of the Secured Notes will be entitled to appoint an observer to our board of directors. In addition, the debt incurrence covenant in the indenture governing our Convertible Notes has been amended to reduce our ability to incur indebtedness under certain baskets by the amount of any repayment of the Secured Notes as described above. In consideration for the Consenting Holders’ consents to the Indenture Amendments, the Company issued them 5-year warrants to purchase an aggregate of 212,364 of the Company’s ordinary shares for $ 30 per share (''2022 Consent Warrants"). The Company also filed a registration statement with the SEC covering resales of the shares issuable on exercise of the 2022 Consent Warrants. The new principal amortization schedule of the Secured Notes is as follows: Payment Date Amount July 15, 2024 $ 2,500 October 15, 2024 2,500 January 1, 2025 2,500 April 15, 2025 2,500 July 15, 2025 2,500 October 15, 2025 The principal balance then outstanding The Company is currently in the process of renegotiating elements of the Senior Secured Notes. See Note 1 for additional information. Royalty liability In connection with the three issuances of the Secured Notes as well as the December 2018 amendment of the related indenture, the Company has entered into royalty rights agreements, pursuant to which the Company has agreed to pay 3.4 % of the aggregate net sales of MosaiQ instruments and consumables made in the donor testing market in the United States and the European Union. The royalties will be payable beginning on the date that the Company or its affiliates makes its first sale of MosaiQ consumables in the donor testing market in the European Union or the United States and will end on the last day of the calendar quarter in which the eighth anniversary of the first sale date occurs. The royalty rights agreements are treated as sales of future revenues that meet the requirements of Accounting Standards Codification Topic 470 "Debt" to be treated as debt. The royalty rights agreements are accounted for separately as freestanding financial instruments. Consideration received for the debt and royalty rights was allocated to each component on a relative fair value basis. The difference between the relative fair value of the royalty rights agreements and the principle on the Secured Notes is accounted for as debt discount and amortized through non-cash interest expense over the life of the Secured Notes. Estimating the future cash outflows under the royalty rights agreements requires the Company to make certain estimates and assumptions about future sales of MosaiQ products. These estimates of the magnitude and timing of MosaiQ sales are subject to significant variability due to the current status of development of MosaiQ products, and thus are subject to significant uncertainty. The decrease in value of the royalty rights agreement from $ 40.1 million at March 31, 2022 to $ 24.9 million September 30, 2022, is due to the Company's decision to prioritize the clinical portfolio, which is not subject to the royalty rights agreement, through at least calendar year 2025 which resulted in a reversal of all non-cash interest expense recognized to date for the royalty liability. The royalty liability will be held at the initial carrying amount unless the liability meets criteria necessary for debt extinguishment under ASC 405-20, Extinguishments of Liabilities or until estimated future cash outflows exceed the current carrying value which would result in additional interest expense to be recognized. Convertible Notes On May 26, 2021 the Company issued $ 95.0 million aggregate principal amount of convertible senior notes and on June 2, 2021, the Company issued an additional $ 10.0 million aggregate principal amount of convertible senior notes in connection with the original $ 95.0 million (collectively the "Convertible Notes"). The Convertible Notes bear interest at an annual rate of 4.75 %. The Convertible Notes will mature on May 26, 2026 . Accrued interest of $ 1.9 and $ 1.7 million is included in accrued expenses and other current liabilities in the accompanying condensed consolidated financial statements at September 30, 2022 and September 30, 2021 respectively. At any time before the close of business on the second business day immediately before the maturity date, holders of the Convertible Notes can convert the Convertible Notes either in whole or in part into the Company’s ordinary shares at an initial conversion rate of 176.3668 ordinary shares per $ 1,000 principal amount of the Convertible Notes, subject to customary anti-dilution adjustments. The Convertible Notes are accounted for in accordance with ASC 470-20, Debt with Conversion and Other Options ("ASC 470-20") and ASC 815-40, Contracts in Entity’s Own Equity ("ASC 815-40"). Based upon the Company’s analysis, it was determined the Convertible Notes contain embedded features that need to be separately accounted for as a derivative liability component. The proceeds received from the issuance of the convertible debt instruments were bifurcated and recorded as a liability within derivative liabilities in the consolidated balance sheet. The convertible loan derivative is measured at fair value and changes are recognized within the accompanying condensed consolidated financial statements within Other, net. The Company incurred approximately $ 3.7 million of debt issuance costs relating to the issuance of the Convertible Notes, which were recorded as a reduction to the Convertible Notes on the consolidated balance sheet, no ne of the issuance costs were attributable to the derivative component. The debt issuance costs and the debt discount are being amortized and recognized as additional interest expense over the expected life of the Convertible Notes using the effective interest rate method. We determined the expected life of the debt is equal to the five-year term of the Convertible Notes. The effective interest rate on the Convertible Notes is 12.9 %. The total interest expense was $ 5.2 and $ 3.4 million with coupon interest of $ 2.5 and $ 1.7 million and the amortization of debt discount and issuance costs of $ 2.7 and $ 1.7 million, for the six month periods ended September 30, 2022 and 2021, respectively. The total interest expense was $ 2.6 and $ 2.5 million with coupon interest of $ 1.2 and $ 1.3 million and the amortization of debt discount and issuance costs of $ 1.4 and $ 1.2 million, for the three month periods ended September 30, 2022 and 2021, respectively

Consolidated Balance Sheet Deta

Consolidated Balance Sheet Detail	6 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidated Balance Sheet Detail	Note 4. Consolidated Balance Sheet Detail Inventory The following table summarizes inventory by category for the dates presented: September 30, March 31, Raw materials $ 5,215 $ 10,228 Work in progress 2,398 7,154 Finished goods 5,145 4,654 Total inventories $ 12,758 $ 22,036 Inventory at September 30, 2022 included $ 2,450 of raw materials, $ 0 of work in progress and $ 2,954 of finished goods related to the MosaiQ project. Inventory at March 31, 2022, included $ 6,761 of raw materials, $ 4,252 of work in progress and $ 2,758 of finished goods related to the MosaiQ project. During the quarter ended September 30, 2022, the Company recorded a write-off of $ 8.8 million in inventory and a $ 5.1 million write-off of prepaid assets related to the transfusion related MosaiQ assets. Included in other accrued expenses at September 30, 2022, is $ 1,228 of projected losses on firm purchase commitments recorded in other accrued expenses and $ 668 recorded in other long term liabilities related to the determination that certain firm purchase commitments no longer have an alternative future use. Accrued expenses and other current liabilities Accrued expenses and other current liabilities consist of the following: September 30, March 31, Accrued legal and professional fees $ 1,912 $ 1,254 Accrued interest 5,247 9,235 Goods received not invoiced 2,780 1,304 Accrued capital expenditure 352 193 Other accrued expenses 4,754 3,743 Total accrued expenses and other current liabilities $ 15,045 $ 15,729

Fair value measurement

Fair value measurement	6 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair value measurement	Note 5. Fair value measurement The following table summarizes the Company’s assets and liabilities that are measured at fair value on a recurring basis, by level, within the fair value hierarchy: September 30, 2022 Level 1 Level 2 Level 3 Total Assets: Pension plan assets (1) $ — $ 24,736 $ — $ 24,736 Total assets measured at fair value $ — $ 24,736 $ — $ 24,736 Liabilities: Convertible loan derivatives (2) — 1,153 — 1,153 Debt related Consent Warrants (3) — 1,538 — 1,538 Debt related Consent Shares 6 — — 6 Total liabilities measured at fair value $ 6 $ 2,691 $ — $ 2,697 March 31, 2022 Level 1 Level 2 Level 3 Total Assets: Pension plan assets (1) $ — $ 24,778 $ — $ 24,778 Total assets measured at fair value $ — $ 24,778 $ — $ 24,778 Liabilities: Convertible loan derivatives (2) — 11,858 — 11,858 Debt related Consent Warrants (3) — 1,657 — 1,657 Debt related Consent Shares 77 — — 77 Total liabilities measured at fair value $ 77 $ 13,515 $ — $ 13,592 (1) The fair value of pension plan assets has been determined as the surrender value of the portfolio of active insured employees held within the AXA LLP Foundation Suisse Romande collective investment fund. (2) The fair value of the Convertible loan derivatives has been determined by utilizing a single factor lattice model using market-based observable inputs such as historical share prices for Quotient Limited, interest rates derived from the U.S. Dollar Swap interest rate curve, credit spread, and implied volatility obtained from third party market price quotations. (3) The fair value of the 2021 and 2022 Consent Warrants (collectively ''Consent Warrants''), has been determined by utilizing a Black-Scholes model using market-based observable inputs such as historical share prices for Quotient Limited, quotations for US treasury interest rates, and implied volatility obtained from third party market price quotations. On March 12, 2021, the Company announced that two funds managed by CSAM in which the Company had invested an aggregate of approximately $ 110.35 million had suspended redemptions. The investments into these funds were made in accordance with the Company’s investment policy of making individual investments with a minimum of an A rating from a leading credit-rating agency. Each fund holds short-term credit obligations of various obligors. According to a press release issued by CSAM, redemptions in the funds were suspended because "certain part of the Subfunds’ assets is currently subject to considerable uncertainties with respect to their accurate valuation." CSAM subsequently began a liquidation of the funds. Pursuant to the liquidation, the Company has already received cash distributions of approximately $ 89.0 million. Credit Suisse has advised that the credit assets held by the funds are covered by insurance that potentially will be available to cover losses the funds would incur if any of the obligors on the funds’ credit assets were to default. On April 22, 2021, Credit Suisse published its FY 2021 Q1 press release with commentary related to the Credit Suisse Supply Chain Finance Investment Grade Fund and the Credit Suisse (Lux) Supply Chain Finance Fund. Notably, Credit Suisse indicated that investors in the funds should assume losses will be incurred. Additionally on April 4, 2022, Credit Suisse indicated in its Annual General Meeting that they expected that litigation will be necessary to reinforce claims against individual debtors and insurance companies and recovery is not expected to occur over the next 12 months for one of our funds. Therefore, we determined that one of our two funds should be classified as long-term as of March 31, 2022 and we have maintained that classification in September 30, 2022. On November 11, 2022, we received a $ 2.6 million cash payment from Credit Suisse related to the final liquidation of the Credit Suisse Supply Chain Finance Investment Grade Fund which was classified as a short-term investment in our condensed consolidated financial statements. In the year-ended March 31, 2021, Credit Suisse’s decision to liquidate funds in which the Company held investments served as a trigger to evaluate the investm ents for impairment and each quarter the Company evaluates information from Credit Suisse to determine whether there are further triggering events. Through March 31, 2022, the Company recorded $ 3.3 million in impairments associated with these funds. We recorded $ 0.2 million and $ 1.2 million in impairment expenses in the three and six month period ended September 30, 2022 based on information shared by Credit Suisse to CSAM investors which included updated estimates of litigation provisions and administrative expenses incurred or to be incurred by Credit Suisse which Credit Suisse communicated would be deducted from investor recoveries. No impairment expense was recorded in the three or six month periods ended September 30, 2021. The Company views the liquidation of the supply chain finance funds as a fluid situation with a significant amount of valuation uncertainty. The Company will closely monitor the situation and in the event that new information is released that provides valuation clarity, it will evaluate the accounting implications accordingly. The Company believes, and has advised Credit Suisse, that any losses on the supply chain funds, including recovery costs, should be borne by Credit Suisse. The Company will pursue all available options to recoup the full amount of its investment in the supply chain funds prior to liquidation. The total unrealized gains on the short-term investments were $ 249 and $ 275 in the six month periods ended September 30, 2022 and September 30, 2021, respectively. The amount of these unrealized gains reclassified to earnings were $ 26 and $ 193 in the six month periods ended September 30, 2022 and September 30, 2021, respectively.

Ordinary and Preference Shares

Ordinary and Preference Shares	6 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Ordinary and Preference Shares	Note 6. Ordinary and Preference Shares Ordinary shares The Company’s issued and outstanding ordinary shares were as follows: Shares Issued September 30, March 31, Par value Ordinary shares 3,396,118 2,565,284 $ — Total 3,396,118 2,565,284 $ — On June 28, 2022, the Company issued 811,458 ordinary shares in a public offering of shares at $ 12.00 per share. On May 20, 2022, the Company received notice from The NASDAQ Stock Market (“Nasdaq”) that, because the closing bid price for the Company’s ordinary shares has been below $ 1.00 per share for 30 consecutive business days, the Company no longer complied with the minimum bid price requirement for continued listing on the Nasdaq Global Market and was granted an initial compliance period of 180 calendar days to regain compliance with the minimum bid requirement or until November 16, 2022. The Company effected a 1-for-40 reverse stock split on Nov ember 2, 2022 in an effort to meet this minimum average share price requirement. No fractional shares were issued in connection with the reverse stock split. All outstanding share amounts have been restated to reflect the impact of the reverse stock split. Preference shares The Company’s issued and outstanding preference shares consist of the following: Shares Issued Liquidation September 30, March 31, September 30, March 31, 7 % Cumulative Redeemable 16,667 16,667 $ 1,383.00 $ 1,351.50 Total 16,667 16,667 The 7 % Cumulative Redeemable Preference shares were issued to Ortho-Clinical Diagnostics Finco S.A.R.L., an affiliate of Ortho on January 29, 2015 at a subscription price of $ 22.50 per share. These preference shares are redeemable at the request of the shareholder on the "Redemption Trigger Date" which is currently the date of the ninth anniversary of the date of issue of the preference shares, but the Company may further extend the redemption date in one year increments up to the tenth anniversary of the date of issue. Because the 7% Cumulative Redeemable Preference shares are redeemable at the option of the shareholders, they are shown as a liability in the unaudited condensed consolidated balance sheet.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Note 7. Share-Based Compensation The Company records share-based compensation expense in respect of options and restricted share units ("RSUs") issued under its share incentive plans. Share-based compensation expense amounted to $ 35 and $ 1,404 in the quarters ended September 30, 2022 and September 30, 2021, respectively, and $ 1,669 and $ 3,227 in the six month periods ended September 30, 2022 and September 30, 2021, respectively. Share option activity The following table summarizes share option activity: Number Weighted Weighted Life Outstanding — March 31, 2022 71,263 $ 195.20 90 Granted 15,531 53.20 120 Exercised — — — Forfeited ( 13,240 ) 257.20 — Outstanding — September 30, 2022 73,554 $ 154.00 94 Exercisable — September 30, 2022 24,981 $ 258.00 67 A t September 30, 2022, 59,440 RSUs were outstanding subject to time-based vesting and the weighted average remaining vesting period was 15 months. In addition, 460 RSUs were outstanding subject to vesting based on the achievement of various business milestones related mainly to the development, approval and marketing of MosaiQ. 53,437 RSUs were outstanding and subject to vesting based on the achievement of financial objectives in the year 2024 and 2025 assuming a 100 % payout of applicable targets. The decrease in expense recognized in the quarter ended September 30, 2022 is due to an assessment that certain performance based RSU's previously deemed probable of vesting were no longer probable of vesting due to the shift in business strategy described in Note 1. If the maximum payout ratio of these awards were to be achieved of 150 %, 80,156 shares would be awarded.

Income Taxes

Income Taxes	6 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Note 8. Income Taxes A reconciliation of the income tax expense at the statutory rate to the provision for income taxes is as follows: Quarter ended Six months ended 2022 2021 2022 2021 Income tax expense at statutory rate $ — $ — $ — $ — Tax rate change — — — ( 335 ) Foreign tax rate differential 1,980 1,337 2,726 1,920 Increase in valuation allowance against deferred ( 2,347 ) ( 1,182 ) ( 3,226 ) ( 2,100 ) Provision for income tax $ ( 367 ) $ 155 $ ( 500 ) $ ( 515 )

Defined Benefit Pension Plans

Defined Benefit Pension Plans	6 Months Ended
	Sep. 30, 2022
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Defined Benefit Pension Plans	Note 9. Defined Benefit Pension Plans The Company’s Swiss subsidiary has a fully insured pension plan managed by AXA LPP Foundation Suisse Romande. The costs of this plan were: Quarter ended Six months ended 2022 2021 2022 2021 Employer service cost $ 699 $ 627 $ 1,405 $ 1,253 Interest cost 99 23 199 44 Expected return on plan assets ( 111 ) ( 76 ) ( 223 ) ( 153 ) Amortization of prior service credit 14 14 28 29 Amortization of net loss — — — — Net pension cost $ 701 $ 588 $ 1,409 $ 1,173 The employer contributions for the six month periods ended September 30, 2022 and 2021 were $ 977 and $ 819 , respectively. The estimated employer contributions for the fiscal year ending March 31, 2023 are $ 1,948 .

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Net Loss Per Share	Note 10. Net Loss Per Share In accordance with Accounting Standards Codification Topic 260 "Earnings Per Share" , basic earnings available to ordinary shareholders per share is computed based on the weighted average number of ordinary shares outstanding during each period. Diluted earnings available to ordinary shareholders per share is computed based on the weighted average number of ordinary shares outstanding during each period, plus potential ordinary shares considered outstanding during the period, as long as the inclusion of such shares is not anti-dilutive. Potential ordinary shares consist of the incremental ordinary shares issuable upon the exercise of share options (using the treasury shares method), the warrants to acquire ordinary shares, the ordinary shares issuable upon vesting of the RSUs, and the ordinary shares issuable on conversion of Convertible Notes. As disclosed in Note 6 – Ordinary and Preference Shares, the Company implemented a reverse stock split in a ratio of 1-for-40 effective on November 2, 2022. The below computations of loss per share reflect the number of common stock shares after consideration for the reverse stock split. All common share and loss per share amounts have been adjusted retrospectively to give effect to the reverse stock split as if it occurred at the beginning of the first period presented. The following table sets forth the computation of basic and diluted loss per ordinary share: Quarter ended Six months ended September 30 September 30, 2022 2021 2022 2021 Numerator: Net loss available to ordinary shareholders - basic $ ( 45,926 ) $ ( 27,105 ) $ ( 84,794 ) ( 54,397 ) Net loss available to ordinary shareholders - diluted $ ( 45,926 ) $ ( 33,858 ) $ ( 84,794 ) ( 54,397 ) Denominator: Weighted average ordinary shares outstanding 3,394,467 2,539,191 2,997,415 2,536,992 Assumed exercise of pre-funded warrants 855,208 — 439,287 — Weighted-average shares outstanding - basic 4,249,675 2,539,191 3,436,702 2,536,992 Weighted-average shares outstanding - diluted 4,249,675 3,002,154 3,436,702 2,536,992 Loss per share - basic $ ( 10.81 ) $ ( 10.67 ) $ ( 24.67 ) $ ( 21.44 ) Loss per share - diluted $ ( 10.81 ) $ ( 11.28 ) $ ( 24.67 ) $ ( 21.44 ) The 855,208 pre-funded warrants issued during the quarter ended June 30, 2022, are assumed to be exercised for the calculation of basic and diluted loss per share as the exercise price of $ 0.04 was deemed to be a non-substantive exercise price compared to the pre-funded cost of $ 11.96 per share and the fair value of our ordinary shares. These are treated as permanent equity for both basic and diluted earnings per share calculations. Pre-funded warrants are not included in shares outstanding in our statement of stockholders equity or balance sheet, however the proceeds have been included in the value of share capital therein. The following table sets out the numbers of ordinary shares excluded from the above computation of earnings per share at September 30, 2022 and September 30, 2021 as their inclusion would have been anti-dilutive: September 30, September 30, Ordinary shares issuable on conversion of Convertible Notes 226.80 per share(1) 462,963 — Restricted share units awarded 113,338 68,917 Ordinary shares issuable on exercise of options to purchase ordinary 73,554 70,045 Ordinary shares issuable on exercise of warrants at $ 645.60 per share 2,788 2,788 Ordinary shares issuable on exercise of warrants at $ 375.00 per share 1,600 1,600 Ordinary shares issuable on exercise of 2021 Consent Warrants at $ 160.00 per share 46,101 — Ordinary shares issuable on exercise of 2022 Consent Warrants at $ 30.00 per share 212,365 — Consent Shares not yet issued 1,608 — Total 914,317 143,351 (1) Ordinary shares issuabl e on conversion of Senior Convertible Notes at $226.80 per share, representing 462,962 shares, are anti-dilutive for the six months ended September 30, 2021.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited condensed consolidated financial statements and accompanying notes. As of the date of issuance of these unaudited condensed consolidated financial statements, the Company is not aware of any specific event or circumstance that would require the Company to further update estimates, judgments or revise the carrying value of any assets or liabilities. These estimates may change, as new events occur and additional information is obtained, and are recognized in the condensed consolidated financial statements as soon as they become known. Actual results could differ from those estimates and any such differences may be material to the Company’s condensed consolidated financial statements.
Restricted Cash	Restricted Cash Restricted cash comprised $ 0 at September 30, 2022 and $ 8.0 million at March 31, 2022, held in a cash reserve account pursuant to the indenture governing the Company’s 12 % Senior Secured Notes ("the Secured Notes") and $ 0.8 and $ 0.7 million held at September 30, 2022 and March 31, 2022, respectively, held in a restricted account as security for the property rental obligations of the Company’s Swiss subsidiary.
Concentration of Credit Risks and Other Uncertainties	Concentration of Credit Risks and Other Uncertainties The Company evaluated the investments in the CSAM managed funds for impairment, in accordance with ASC 321-10-35, Investments – Equity Securities , and determined that its investment in two of the funds were impaired. We recorded $ 0.2 million and $ 1.2 million in impairment expenses in the three and six month periods ended September 30, 2022 related to litigation and administrative costs expected to be incurred by Credit Suisse which Credit Suisse communicated would be deducted from investor recoveries. The Company views the liquidation of the supply chain finance funds as a fluid situation with a significant amount of valuation uncertainty. The Company will closely monitor the situation and in the event that new information is released that provides valuation clarity, it will evaluate the accounting implications accordingly. The Company believes, and has advised Credit Suisse, that any losses on the supply chain funds should be borne by Credit Suisse. The Company will pursue all available options to recoup the full amount of its investment in the supply chain funds prior to liquidation. The Company’s main financial institutions for banking operation held all of the Company’s cash and cash equivalents as of September 30, 2022 and March 31, 2022.
Revenue Recognition	Revenue Recognition In the three and six month period ended September 30, 2022, revenue recognized from performance obligations related to prior periods was not material. Other than those described in Note 1 to the audited annual Consolidated Financial statements for the year ended March 31, 2022, there were no other material revenues to be recognized in future periods related to remaining performance obligations at September 30, 2022. The Company’s other significant accounting policies are described in Note 1 to the audited annual Consolidated Financial Statements for the year ended March 31, 2022 included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2022. There have been no significant changes to these policies that have had a material impact on the Company's condensed consolidated financial statements and related notes
Recently Adopted Accounting Pronouncements	Recently Issued Pronouncements There are no recently issued accounting standards that are ex pected to have a material impact on our condensed consolidated financial statements

Debt (Tables)

Debt (Tables)	6 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Total Debt	Total debt comprises: September 30, March 31, Secured Notes $ 132,917 $ 132,917 Debt discount, net of amortization ( 13,927 ) ( 13,854 ) Deferred debt costs, net of amortization ( 2,238 ) ( 2,678 ) Carrying value Secured Notes 116,752 116,385 Royalty liability 24,938 40,076 Convertible Notes 105,000 105,000 Debt discount, net of amortization ( 22,571 ) ( 24,968 ) Deferred debt costs, net of amortization ( 2,839 ) ( 3,180 ) Carrying value Convertible Notes 79,590 76,852 Total Debt $ 221,280 $ 233,313
Schedule of Principal Amortization Payments of Secured Notes	The new principal amortization schedule of the Secured Notes is as follows: Payment Date Amount July 15, 2024 $ 2,500 October 15, 2024 2,500 January 1, 2025 2,500 April 15, 2025 2,500 July 15, 2025 2,500 October 15, 2025 The principal balance then outstanding

Consolidated Balance Sheet De_2

Consolidated Balance Sheet Detail (Tables)	6 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Inventory	The following table summarizes inventory by category for the dates presented: September 30, March 31, Raw materials $ 5,215 $ 10,228 Work in progress 2,398 7,154 Finished goods 5,145 4,654 Total inventories $ 12,758 $ 22,036
Summary of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consist of the following: September 30, March 31, Accrued legal and professional fees $ 1,912 $ 1,254 Accrued interest 5,247 9,235 Goods received not invoiced 2,780 1,304 Accrued capital expenditure 352 193 Other accrued expenses 4,754 3,743 Total accrued expenses and other current liabilities $ 15,045 $ 15,729

Fair value measurement (Tables)

Fair value measurement (Tables)	6 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table summarizes the Company’s assets and liabilities that are measured at fair value on a recurring basis, by level, within the fair value hierarchy: September 30, 2022 Level 1 Level 2 Level 3 Total Assets: Pension plan assets (1) $ — $ 24,736 $ — $ 24,736 Total assets measured at fair value $ — $ 24,736 $ — $ 24,736 Liabilities: Convertible loan derivatives (2) — 1,153 — 1,153 Debt related Consent Warrants (3) — 1,538 — 1,538 Debt related Consent Shares 6 — — 6 Total liabilities measured at fair value $ 6 $ 2,691 $ — $ 2,697 March 31, 2022 Level 1 Level 2 Level 3 Total Assets: Pension plan assets (1) $ — $ 24,778 $ — $ 24,778 Total assets measured at fair value $ — $ 24,778 $ — $ 24,778 Liabilities: Convertible loan derivatives (2) — 11,858 — 11,858 Debt related Consent Warrants (3) — 1,657 — 1,657 Debt related Consent Shares 77 — — 77 Total liabilities measured at fair value $ 77 $ 13,515 $ — $ 13,592 (1) The fair value of pension plan assets has been determined as the surrender value of the portfolio of active insured employees held within the AXA LLP Foundation Suisse Romande collective investment fund. (2) The fair value of the Convertible loan derivatives has been determined by utilizing a single factor lattice model using market-based observable inputs such as historical share prices for Quotient Limited, interest rates derived from the U.S. Dollar Swap interest rate curve, credit spread, and implied volatility obtained from third party market price quotations. (3) The fair value of the 2021 and 2022 Consent Warrants (collectively ''Consent Warrants''), has been determined by utilizing a Black-Scholes model using market-based observable inputs such as historical share prices for Quotient Limited, quotations for US treasury interest rates, and implied volatility obtained from third party market price quotations.

Ordinary and Preference Shares

Ordinary and Preference Shares (Tables)	6 Months Ended
	Sep. 30, 2022
7% Cumulative Redeemable Preference Shares [Member]
Class Of Stock [Line Items]
Summary of Shares Issued and Outstanding	The Company’s issued and outstanding preference shares consist of the following: Shares Issued Liquidation September 30, March 31, September 30, March 31, 7 % Cumulative Redeemable 16,667 16,667 $ 1,383.00 $ 1,351.50 Total 16,667 16,667
Ordinary Shares [Member]
Class Of Stock [Line Items]
Summary of Shares Issued and Outstanding	The Company’s issued and outstanding ordinary shares were as follows: Shares Issued September 30, March 31, Par value Ordinary shares 3,396,118 2,565,284 $ — Total 3,396,118 2,565,284 $ —

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Summary of Share Option Activity	The following table summarizes share option activity: Number Weighted Weighted Life Outstanding — March 31, 2022 71,263 $ 195.20 90 Granted 15,531 53.20 120 Exercised — — — Forfeited ( 13,240 ) 257.20 — Outstanding — September 30, 2022 73,554 $ 154.00 94 Exercisable — September 30, 2022 24,981 $ 258.00 67 A

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Reconciliation of the Income Tax Expenses at the Statutory Rate	A reconciliation of the income tax expense at the statutory rate to the provision for income taxes is as follows: Quarter ended Six months ended 2022 2021 2022 2021 Income tax expense at statutory rate $ — $ — $ — $ — Tax rate change — — — ( 335 ) Foreign tax rate differential 1,980 1,337 2,726 1,920 Increase in valuation allowance against deferred ( 2,347 ) ( 1,182 ) ( 3,226 ) ( 2,100 ) Provision for income tax $ ( 367 ) $ 155 $ ( 500 ) $ ( 515 )

Defined Benefit Pension Plans (

Defined Benefit Pension Plans (Tables)	6 Months Ended
	Sep. 30, 2022
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Schedule of Net Pension Costs	The Company’s Swiss subsidiary has a fully insured pension plan managed by AXA LPP Foundation Suisse Romande. The costs of this plan were: Quarter ended Six months ended 2022 2021 2022 2021 Employer service cost $ 699 $ 627 $ 1,405 $ 1,253 Interest cost 99 23 199 44 Expected return on plan assets ( 111 ) ( 76 ) ( 223 ) ( 153 ) Amortization of prior service credit 14 14 28 29 Amortization of net loss — — — — Net pension cost $ 701 $ 588 $ 1,409 $ 1,173

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Computation of Loss Per Share Basic and Diluted	The following table sets forth the computation of basic and diluted loss per ordinary share: Quarter ended Six months ended September 30 September 30, 2022 2021 2022 2021 Numerator: Net loss available to ordinary shareholders - basic $ ( 45,926 ) $ ( 27,105 ) $ ( 84,794 ) ( 54,397 ) Net loss available to ordinary shareholders - diluted $ ( 45,926 ) $ ( 33,858 ) $ ( 84,794 ) ( 54,397 ) Denominator: Weighted average ordinary shares outstanding 3,394,467 2,539,191 2,997,415 2,536,992 Assumed exercise of pre-funded warrants 855,208 — 439,287 — Weighted-average shares outstanding - basic 4,249,675 2,539,191 3,436,702 2,536,992 Weighted-average shares outstanding - diluted 4,249,675 3,002,154 3,436,702 2,536,992 Loss per share - basic $ ( 10.81 ) $ ( 10.67 ) $ ( 24.67 ) $ ( 21.44 ) Loss per share - diluted $ ( 10.81 ) $ ( 11.28 ) $ ( 24.67 ) $ ( 21.44 )
Summary of Number of Ordinary Shares Excluded from Computation of Earnings Per Share	The following table sets out the numbers of ordinary shares excluded from the above computation of earnings per share at September 30, 2022 and September 30, 2021 as their inclusion would have been anti-dilutive: September 30, September 30, Ordinary shares issuable on conversion of Convertible Notes 226.80 per share(1) 462,963 — Restricted share units awarded 113,338 68,917 Ordinary shares issuable on exercise of options to purchase ordinary 73,554 70,045 Ordinary shares issuable on exercise of warrants at $ 645.60 per share 2,788 2,788 Ordinary shares issuable on exercise of warrants at $ 375.00 per share 1,600 1,600 Ordinary shares issuable on exercise of 2021 Consent Warrants at $ 160.00 per share 46,101 — Ordinary shares issuable on exercise of 2022 Consent Warrants at $ 30.00 per share 212,365 — Consent Shares not yet issued 1,608 — Total 914,317 143,351 (1) Ordinary shares issuabl e on conversion of Senior Convertible Notes at $226.80 per share, representing 462,962 shares, are anti-dilutive for the six months ended September 30, 2021.

Description of Business and B_2

Description of Business and Basis of Presentation - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
Significant Accounting Policies [Line Items]
Cash holdings and investment	$ 41,400	$ 63,200
Investment suspended from redemptions	16,900
Interest on senior secured notes	4,000
Bridge financing loan	3,700
Cash in hand	7,000
Accumulated deficit	$ 809,836		$ 725,042

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Apr. 15, 2021
Significant Accounting Policies [Line Items]
Restricted cash	$ 819	$ 819	$ 8,744	$ 8,302
CSAM [Member]
Significant Accounting Policies [Line Items]
Impairment recognized, related to one of the short term funds invested	$ 200	$ 1,200
Secured Notes [Member]
Significant Accounting Policies [Line Items]
Debt instrument, interest rate	12%	12%			12%
Security For Property Rental Obligations of Subsidiary [Member]
Significant Accounting Policies [Line Items]
Restricted cash	$ 800	$ 800	700
Senior Secured Notes Due 2023 [Member] | Cash Reserve Account Held by Collateral Agent [Member]
Significant Accounting Policies [Line Items]
Restricted cash	$ 0	$ 0	$ 8,000

Debt - Schedule of Total Debt (

Debt - Schedule of Total Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022	May 26, 2021
Debt Instrument [Line Items]
Secured Notes	$ 132,917	$ 132,917
Carrying value Secured Notes	116,752	116,385
Royalty liability	24,938	40,076
Convertible Notes	105,000	105,000
Carrying value Convertible Notes	79,590	76,852
Total Debt	221,280	233,313
Secured Notes [Member]
Debt Instrument [Line Items]
Debt discount, net of amortization	(13,927)	(13,854)
Deferred debt costs, net of amortization	(2,238)	(2,678)
Convertible Notes [Member]
Debt Instrument [Line Items]
Debt discount, net of amortization	(22,571)	(24,968)
Deferred debt costs, net of amortization	$ (2,839)	$ (3,180)	$ (3,700)

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)

3 Months Ended

6 Months Ended

12 Months Ended

Oct. 15, 2025

Jul. 06, 2022

Oct. 13, 2021

Jun. 02, 2021

May 26, 2021

Apr. 15, 2021

May 15, 2019

Jun. 29, 2018

Sep. 30, 2022

Sep. 30, 2021

Sep. 30, 2022

Sep. 30, 2021

Jul. 15, 2025

Jun. 30, 2022

Mar. 31, 2022

Dec. 31, 2021

Oct. 14, 2016

Debt Instrument [Line Items]

Interest on senior secured notes

$ 4,000,000

Common stock, shares issued

3,396,118

3,396,118

2,565,284

Common stock, par value

Exercise price of warrants

$ 0.04

Accrued interest

$ 5,247,000

$ 5,247,000

$ 9,235,000

Ordinary Shares [Member]

Debt Instrument [Line Items]

Common stock, shares issued

3,396,118

3,396,118

2,565,284

Common stock, par value

$ 0

$ 0

Convertible Notes [Member]

Debt Instrument [Line Items]

Debt instrument, issuance date

May 26, 2021

Aggregate principal amount of notes issued

$ 10,000,000

$ 95,000,000

Debt instrument, interest rate

4.75%

Maturity date

May 26, 2026

May 26, 2026

Debt instrument, conversion, description

At any time before the close of business on the second business day immediately before the maturity date, holders of the Convertible Notes can convert the Convertible Notes either in whole or in part into the Company’s ordinary shares at an initial conversion rate of 176.3668 ordinary shares per $1,000 principal amount of the Convertible Notes, subject to customary anti-dilution adjustments.

Conversion rate of ordinary shares

176.3668

Conversion price per share

$ 1,000

Debt issuance costs

$ 3,700,000

$ 2,839,000

$ 2,839,000

$ 3,180,000

Issuance costs attributable to bifurcated derivative

$ 0

Expected life of debt

5 years

Debt instrument, effective interest rate

12.90%

Interest expense debt

2,600,000

$ 2,500,000

5,200,000

$ 3,400,000

Coupon interest

1,200,000

1,300,000

2,500,000

1,700,000,000

Amortization of debt discount and issuance costs

1,400,000

1,200,000

2,700,000

1,700,000

Convertible Notes [Member] | Accrued Expenses and Other Current Liabilities [Member]

Debt Instrument [Line Items]

Accrued interest

$ 1,900,000

$ 1,700,000

$ 1,900,000

$ 1,700,000

Secured Notes [Member]

Debt Instrument [Line Items]

Debt instrument, issuance date

Oct. 14, 2016

Aggregate principal amount of notes available for issue

$ 84,000,000

Aggregate principal amount of notes issued

$ 25,000,000

$ 36,000,000

Debt instrument, unused/additional borrowing capacity

The Company issued $84 million aggregate principal amount of the Secured Notes on October 14, 2016 and an additional $36 million aggregate principal amount of the Secured Notes on June 29, 2018.

Debt instrument, restrictive covenants

The Company and its subsidiaries must also comply with certain customary affirmative and negative covenants, including a requirement to maintain six-months of interest in a cash reserve account maintained with the collateral agent. Upon the occurrence of a Change of Control, subject to certain conditions, or certain Asset Sales (each, as defined in the indenture), holders of the Secured Notes may require the Company to repurchase for cash all or part of their Secured Notes at a repurchase price equal to 101% or 100%, respectively, of the principal amount of the Secured Notes to be repurchased, plus accrued and unpaid interest to the date of repurchase.

Debt instrument, percentage of repurchase price on change of control

101%

Debt instrument, percentage of repurchase price on certain asset sales

100%

Payment to cash reserve account held by collateral agent

$ 8,000,000

8,700,000

Debt instrument date of first required payment, interest

Apr. 15, 2017

Debt instrument date of first payment, principal

Apr. 15, 2021

Debt instrument, interest rate

12%

12%

12%

Debt instrument principal payment

$ 12,100,000

Debt instrument indenture date

Oct. 14, 2016

Debt instrument, maturity date, description

The Indenture Amendments included an 18-month extension of the final maturity of the Secured Notes to October 2025 and a revision of the Notes’ principal amortization schedule.

Debt instrument, redemption, description

The Secured Notes may be redeemed from and after October 14, 2021 at redemption prices beginning at 106% of par and declining over time to 100.0% for redemptions occurring from and after April 14, 2024.

Cash and other benefits reserved

$ 8,000,000

Secured Notes [Member] | Subsequent Event

Debt Instrument [Line Items]

Debt instrument principal payment

$ 93,000,000

$ 2,500,000

Secured Notes [Member] | MosaiQ [Member]

Debt Instrument [Line Items]

Debt instrument subscribers rights to receive payment as percentage of net MosaiQ sales

3.40%

Estimated amount under royalty agreement

$ 24,900,000

$ 24,900,000

$ 40,100,000

Secured Notes [Member] | From and After October 14, 2021 [Member]

Debt Instrument [Line Items]

Debt instrument, redemption percentage

106%

Secured Notes [Member] | From and After April 14, 2024 [Member]

Debt Instrument [Line Items]

Debt instrument, redemption percentage

100%

Secured Notes [Member] | Fourth Supplemental Indenture [Member]

Debt Instrument [Line Items]

Debt instrument indenture date

Oct. 13, 2021

Secured Notes [Member] | Consent Shares [Member] | Ordinary Shares [Member]

Debt Instrument [Line Items]

Common stock, shares issued

23,319

23,319

Common stock, par value

$ 0

$ 0

Secured Notes [Member] | 2021 Consent Warrants [Member] | Ordinary Shares [Member]

Debt Instrument [Line Items]

Warrants duration

5 years

5 years

Secured Notes [Member] | 2021 Consent Warrants Member | Ordinary Shares [Member]

Debt Instrument [Line Items]

Common stock, shares issued

46,100

46,100

Par value per share

$ 160

$ 160

Secured Notes [Member] | 2022 Consent Warrants Member | Ordinary Shares [Member]

Debt Instrument [Line Items]

Common stock, shares issued

212,364

212,364

Warrants duration

5 years

5 years

Exercise price of warrants

$ 30

$ 30

Secured Notes [Member] | Maximum [Member]

Debt Instrument [Line Items]

Aggregate principal amount of notes available for issue

$ 145,000,000

$ 120,000,000

$ 120,000,000

Debt instrument principal payment

24,200,000

Secured Notes [Member] | Minimum [Member]

Debt Instrument [Line Items]

Debt instrument principal payment

$ 12,100,000

Debt - Schedule of Principal Am

Debt - Schedule of Principal Amortization Payments of Secured Notes (Detail) $ in Thousands	6 Months Ended
	Sep. 30, 2022 USD ($)
July 15, 2024 [Member]
Debt Instrument [Line Items]
Principal amortization schedule	$ 2,500
October 15, 2024 [Member]
Debt Instrument [Line Items]
Principal amortization schedule	2,500
January 1, 2025 [Member]
Debt Instrument [Line Items]
Principal amortization schedule	2,500
April 15, 2025 [Member]
Debt Instrument [Line Items]
Principal amortization schedule	2,500
July 15, 2025 [Member]
Debt Instrument [Line Items]
Principal amortization schedule	$ 2,500
October 15, 2025 [Member]
Debt Instrument [Line Items]
Principal amortization schedule	The principal balance then outstanding

Consolidated Balance Sheet De_3

Consolidated Balance Sheet Detail - Summary of Inventory (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 5,215	$ 10,228
Work in progress	2,398	7,154
Finished goods	5,145	4,654
Total inventories	$ 12,758	$ 22,036

Consolidated Balance Sheet De_4

Consolidated Balance Sheet Detail - Additional Information (Detail) - USD ($)	3 Months Ended
	Sep. 30, 2022	Mar. 31, 2022
Raw materials	$ 5,215,000	$ 10,228,000
Work in progress	2,398,000	7,154,000
Finished goods	5,145,000	4,654,000
Other Liabilities, Noncurrent	668,000	0
MosaiQ Project [Member]
Raw materials	2,450,000	6,761,000
Work in progress	0	4,252,000
Finished goods	2,954,000	$ 2,758,000
Write-Off of Prepaid Assets	5.1
Other accrued expenses	1,228
Inventory Write-down	8,800,000
Other Liabilities, Noncurrent	$ 668

Consolidated Balance Sheet De_5

Consolidated Balance Sheet Detail - Summary of Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Payables and Accruals [Abstract]
Accrued legal and professional fees	$ 1,912	$ 1,254
Accrued interest	5,247	9,235
Goods received not invoiced	2,780	1,304
Accrued capital expenditure	352	193
Other accrued expenses	4,754	3,743
Total accrued expenses and other current liabilities	$ 15,045	$ 15,729

Fair value measurement - Summar

Fair value measurement - Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Recurring [Member] - USD ($) $ in Thousands		Sep. 30, 2022	Mar. 31, 2022
Assets:
Total assets measured at fair value		$ 24,736	$ 24,778
Liabilities:
Total liabilities measured at fair value		2,697	13,592
Pension plan assets [Member]
Assets:
Total assets measured at fair value	[1]	24,736	24,778
Convertible loan derivatives [Member]
Liabilities:
Total liabilities measured at fair value	[2]	1,153	11,858
Debt Related Consent Warrants [Member]
Liabilities:
Total liabilities measured at fair value	[3]	1,538	1,657
Debt Related Consent Shares [Member]
Liabilities:
Total liabilities measured at fair value		6	77
Level 1 [Member]
Liabilities:
Total liabilities measured at fair value		6	77
Level 1 [Member] | Debt Related Consent Shares [Member]
Liabilities:
Total liabilities measured at fair value		6	77
Level 2 [Member]
Assets:
Total assets measured at fair value		24,736	24,778
Liabilities:
Total liabilities measured at fair value		2,691	13,515
Level 2 [Member] | Pension plan assets [Member]
Assets:
Total assets measured at fair value	[1]	24,736	24,778
Level 2 [Member] | Convertible loan derivatives [Member]
Liabilities:
Total liabilities measured at fair value	[2]	1,153	11,858
Level 2 [Member] | Debt Related Consent Warrants [Member]
Liabilities:
Total liabilities measured at fair value	[3]	$ 1,538	$ 1,657
[1] The fair value of pension plan assets has been determined as the surrender value of the portfolio of active insured employees held within the AXA LLP Foundation Suisse Romande collective investment fund. The fair value of the Convertible loan derivatives has been determined by utilizing a single factor lattice model using market-based observable inputs such as historical share prices for Quotient Limited, interest rates derived from the U.S. Dollar Swap interest rate curve, credit spread, and implied volatility obtained from third party market price quotations. The fair value of the 2021 and 2022 Consent Warrants (collectively ''Consent Warrants''), has been determined by utilizing a Black-Scholes model using market-based observable inputs such as historical share prices for Quotient Limited, quotations for US treasury interest rates, and implied volatility obtained from third party market price quotations.

Fair value measurement - Additi

Fair value measurement - Additional Information (Detail)			3 Months Ended	6 Months Ended		12 Months Ended
	Nov. 11, 2022 USD ($)	Mar. 12, 2021 USD ($) Investment	Sep. 30, 2022 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Unrealized gains on short-term investments				$ 249,000	$ 275
Unrealized gains reclassified to earnings				26	$ 193
CSAM [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Number of short-term funds invested | Investment		2
Aggregate investment in suspend redemptions		$ 110,350,000
Payments for (proceeds from) short-term investments	$ 2,600,000	$ 89,000,000
Impairment expense			$ 200,000	$ 1,200,000
Impairment of investments						$ 3,300,000

Ordinary and Preference Share_2

Ordinary and Preference Shares - Summary of Shares Issued and Outstanding (Detail) - $ / shares	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Class Of Stock [Line Items]
Ordinary shares, shares issued	3,396,118		2,565,284
Ordinary shares, shares outstanding	3,396,118		2,565,284
Ordinary shares, par value
Preference shares, shares issued	16,667		16,667
Preference shares, shares outstanding	16,667		16,667
7% Cumulative Redeemable Preference Shares [Member]
Class Of Stock [Line Items]
Preference shares, shares issued	16,667		16,667
Preference shares, shares outstanding	16,667		16,667
Liquidation amount per share	$ 1,383		$ 1,351.50
Ordinary Shares [Member]
Class Of Stock [Line Items]
Ordinary shares, shares issued	3,396,118		2,565,284
Ordinary shares, shares outstanding	3,396,118	3,392,088	2,565,284	2,539,790	2,538,179	2,531,610
Ordinary shares, par value	$ 0

Ordinary and Preference Share_3

Ordinary and Preference Shares - Summary of Shares Issued and Outstanding (Parenthetical) (Detail)	6 Months Ended	12 Months Ended
	Sep. 30, 2022	Mar. 31, 2022
Class Of Stock [Line Items]
Preference share dividend percentage	7%	7%
7% Cumulative Redeemable Preference Shares [Member]
Class Of Stock [Line Items]
Preference share dividend percentage	7%	7%

Ordinary and Preference Share_4

Ordinary and Preference Shares - Additional Information (Detail)		6 Months Ended	12 Months Ended
	Jun. 28, 2022 shares	Sep. 30, 2022 Days $ / shares	Mar. 31, 2022	May 20, 2022 $ / shares	Jan. 29, 2015 $ / shares
Class Of Stock [Line Items]
Preference share dividend percentage		7%	7%
Ordinary shares | shares	811,458
Ordinary share public offering		$ 12
Ordinary shares price per share				$ 1
Number of business days for closing bid price for the Companys ordinary shares | Days		30
7% Cumulative Redeemable Preference Shares [Member]
Class Of Stock [Line Items]
Subscriptions price, per share					$ 22.50
Preference share dividend percentage		7%	7%

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 35	$ 1,404	$ 1,669	$ 3,227
Restricted Stock Units (RSUs) [Member] | Time Based Vesting [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of restricted stock units outstanding	59,440		59,440
Weighted average remaining vesting period			15 months
Restricted Stock Units (RSUs) [Member] | Milestone Vesting [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of restricted stock units outstanding	460		460
Restricted Stock Units (RSUs) [Member] | Financial Objectives [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of restricted stock units outstanding	53,437		53,437
Payout of applicable targets of the shares			100%
Maximum payout ratio			150%
Maximum payout ratio of the awards	80,156		80,156

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Share Option Activity (Detail) - $ / shares	3 Months Ended	6 Months Ended
	Mar. 31, 2022	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Number of Share Options Outstanding, Beginning Balance		71,263
Number of Share Options Outstanding, Granted		15,531
Number of Share Options Outstanding, Forfeited		(13,240)
Number of Share Options Outstanding, Ending Balance	71,263	73,554
Number of Share Options Outstanding, Exercisable		24,981
Weighted-Average Exercise Price, Beginning Balance		$ 195.20
Weighted-Average Exercise Price, Granted		53.20
Weighted-Average Exercise Price, Forfeited		257.20
Weighted-Average Exercise Price, Ending Balance	$ 195.20	154
Weighted-Average Exercise Price, Exercisable		$ 258
Weighted-Average Remaining Contractual Life, Outstanding	90 months	94 months
Weighted-Average Remaining Contractual Life, Granted		120 months
Weighted-Average Remaining Contractual Life, Exercisable		67 months

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of the Income Tax Expenses at the Statutory Rate (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Tax rate change	$ 0	$ 0	$ 0	$ 335
Foreign tax rate differential	1,980	1,337	2,726	1,920
Increase in valuation allowance against deferred tax assets	(2,347)	(1,182)	(3,226)	(2,100)
Provision for income tax	$ (367)	$ 155	$ (500)	$ (515)

Defined Benefit Pension Plans -

Defined Benefit Pension Plans - Schedule of Net Pension Costs (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Employer service cost	$ 699	$ 627	$ 1,405	$ 1,253
Interest cost	99	23	199	44
Expected return on plan assets	(111)	(76)	(223)	(153)
Amortization of prior service credit	14	14	28	29
Amortization of net loss	0	0	0	0
Net pension cost	$ 701	$ 588	$ 1,409	$ 1,173

Defined Benefit Pension Plans_2

Defined Benefit Pension Plans - Additional Information (Detail) - USD ($) $ in Thousands		6 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Sep. 30, 2021
Defined Contribution Plan Disclosure [Line Items]
Contributions paid or to be paid by employer		$ 977	$ 819
Scenario, Forecast [Member]
Defined Contribution Plan Disclosure [Line Items]
Contributions paid or to be paid by employer	$ 1,948

Net Loss Per Share - Computatio

Net Loss Per Share - Computation of Loss Per Share Basic and Diluted (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator:
Net loss available to ordinary shareholders - basic	$ (45,926)	$ (27,105)	$ (84,794)	$ (54,397)
Net loss available to ordinary shareholders - diluted	$ (45,926)	$ (33,858)	$ (84,794)	$ (54,397)
Denominator:
Weighted average ordinary shares outstanding	3,394,467	2,539,191	2,997,415	2,536,992
Assumed exercise of pre-funded warrants	855,208	0	439,287	0
Weighted-average shares outstanding - basic	4,249,675	2,539,191	3,436,702	2,536,992
Weighted-average shares outstanding - diluted	4,249,675	3,002,154	3,436,702	2,536,992
Loss per share - basic	$ (10.81)	$ (10.67)	$ (24.67)	$ (21.44)
Loss per share - diluted	$ (10.81)	$ (11.28)	$ (24.67)	$ (21.44)

Net Loss Per Share - Additional

Net Loss Per Share - Additional Information (Detail)	3 Months Ended
	Jun. 30, 2022 $ / shares shares
Earnings Per Share [Abstract]
Pre-funded warrants | shares	855,208
Exercise price of warrants	$ 0.04
Pre Funded Cost Per Share	$ 11.96

Net Loss Per Share - Summary of

Net Loss Per Share - Summary of Number of Ordinary Shares Excluded from Computation of Earnings Per Share (Detail) - shares		6 Months Ended
		Sep. 30, 2022	Sep. 30, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Ordinary shares issuable excluded from computation of earnings per share		914,317	143,351
Conversion Of Senior Convertible Notes 226.80 [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Ordinary shares issuable excluded from computation of earnings per share	[1]	462,963
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Ordinary shares issuable excluded from computation of earnings per share		113,338	68,917
Exercise Of Options To Purchase Ordinary Shares [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Ordinary shares issuable excluded from computation of earnings per share		73,554	70,045
Exercise Of Warrants At $645.60 per share [member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Ordinary shares issuable excluded from computation of earnings per share		2,788	2,788
Exercise Of Warrants At $375.00 Per Shares [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Ordinary shares issuable excluded from computation of earnings per share		1,600	1,600
Exercise of 2021 Consent Warrants at 160.00 Per Share [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Ordinary shares issuable excluded from computation of earnings per share		46,101
Exercise Of 2022 Consent Warrants At 30 Per Share [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Ordinary shares issuable excluded from computation of earnings per share		212,365
Consent Shares [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Ordinary shares issuable excluded from computation of earnings per share		1,608
[1] Ordinary shares issuabl e on conversion of Senior Convertible Notes at $226.80 per share, representing 462,962 shares, are anti-dilutive for the six months ended September 30, 2021.

Net Loss Per Share - Summary _2

Net Loss Per Share - Summary of Number of Ordinary Shares Excluded from Computation of Earnings Per Share (Detail) (Parenthetical) - $ / shares	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Exercise price of warrants		$ 0.04
Conversion Of Senior Convertible Notes 226.80 [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Exercise price of warrants	$ 226.80		$ 226.80
Exercise Of Warrants At $645.60 per share [member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Exercise price of warrants	645.60		645.60
Exercise Of Warrants At $375.00 Per Shares [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Exercise price of warrants	375		375
Exercise of 2021 Consent Warrants at 160.00 Per Share [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Exercise price of warrants	160		160
Exercise Of 2022 Consent Warrants At 30 Per Share [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Exercise price of warrants	$ 30		$ 30