Abiomed (ABMD) 10-Q 30 Jan 15 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Dec. 31, 2014	Jan. 23, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Dec-14
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q3
Trading Symbol	ABMD
Entity Registrant Name	ABIOMED INC
Entity Central Index Key	815094
Current Fiscal Year End Date	-28
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		41,106,708

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$19,478	$20,916
Short-term marketable securities	93,946	55,663
Accounts receivable, net	28,373	24,357
Inventories	15,444	13,948
Prepaid expenses and other current assets	3,331	3,082
Total current assets	160,572	117,966
Long-term marketable securities	17,982	41,761
Property and equipment, net	7,583	6,889
Goodwill	35,327	37,990
In-Process Research and Development	16,480	0
Long-term deferred tax assets	778
Other assets	2,051	801
Total assets	240,773	205,407
Current liabilities:
Accounts payable	8,249	7,746
Accrued expenses	16,561	17,899
Deferred revenue	6,595	4,766
Total current liabilities	31,405	30,411
Other long-term liabilities	196	228
Contingent consideration	6,365
Long-term deferred tax liabilities	7,089	6,415
Total liabilities	45,055	37,054
Commitments and contingencies (Note 10)
Stockholders' equity:
Class B Preferred Stock, $.01 par value Authorized - 1,000,000 shares; Issued and outstanding - none
Common stock, $.01 par value Authorized - 100,000,000 shares; Issued - 42,333,276 shares at December 31, 2014 and 41,122,695 shares at March 31, 2014; Outstanding - 41,079,333 shares at December 31, 2014 and 39,916,328 shares at March 31, 2014	422	411
Additional paid in capital	457,891	436,136
Accumulated deficit	-236,096	-250,910
Treasury stock at cost - 1,253,943 shares at December 31, 2014 and 1,206,367 shares at March 31, 2014	-17,567	-16,554
Accumulated other comprehensive loss	-8,932	-730
Total stockholders' equity	195,718	168,353
Total liabilities and stockholders' equity	$240,773	$205,407

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Dec. 31, 2014	Mar. 31, 2014
Class B Preferred Stock, par value	$0.01	$0.01
Class B Preferred Stock, Authorized	1,000,000	1,000,000
Class B Preferred Stock, Issued	0	0
Class B Preferred Stock, outstanding	0	0
Common stock, par value	$0.01	$0.01
Common stock, Authorized	100,000,000	100,000,000
Common stock, Issued	42,333,276	41,122,695
Common stock, Outstanding	41,079,333	39,916,328
Treasury stock, shares	1,253,943	1,206,367

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Revenue:
Product revenue	$61,966	$46,141	$162,400	$133,038
Funded research and development	39	54	354	172
Total Revenue	62,005	46,195	162,754	133,210
Costs and expenses:
Cost of product revenue	9,838	9,458	29,139	27,208
Research and development	8,365	7,779	26,120	22,787
Selling, general and administrative	30,139	24,364	91,192	78,530
Costs and Expenses, Total	48,342	41,601	146,451	128,525
Income from operations	13,663	4,594	16,303	4,685
Other income:
Investment income, net	48	37	128	78
Other (loss) income, net	-10	20	-38	5
Nonoperating Income (Expense), Total	38	57	90	83
Income before income tax provision	13,701	4,651	16,393	4,768
Income tax provision	1,017	258	1,579	1,039
Net income	$12,684	$4,393	$14,814	$3,729
Basic net income per share	$0.31	$0.11	$0.37	$0.10
Basic weighted average shares outstanding	40,856	39,592	40,456	39,179
Diluted net income per share	$0.30	$0.11	$0.35	$0.09
Diluted weighted average shares outstanding	42,884	41,726	42,345	41,315

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Net income	$12,684	$4,393	$14,814	$3,729
Other comprehensive (loss) income:
Foreign currency translation (losses) gains	-2,944	807	-8,184	3,128
Net unrealized losses on marketable securities	-23	-21	-18	-11
Other comprehensive (loss) income:	-2,967	786	-8,202	3,117
Comprehensive income	$9,717	$5,179	$6,612	$6,846

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Operating activities:
Net income	$14,814	$3,729
Adjustments required to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,796	1,863
Bad debt expense	43	11
Stock-based compensation	12,696	8,367
Write-down of inventory	1,135	641
Deferred tax provision	675	679
Change in fair value of contingent consideration	365
Unrealized losses on investments	18
Changes in assets and liabilities:
Accounts receivable	-4,320	123
Inventories	-3,582	-69
Prepaid expenses and other assets	-198	-345
Accounts payable	368	-1,679
Accrued expenses and other long-term liabilities	-639	104
Deferred revenue	1,856	147
Net cash provided by operating activities	25,027	13,571
Investing activities:
Purchases of marketable securities	-72,411	-58,330
Proceeds from the sale and maturity of marketable securities	57,890	52,264
Acquisition of ECP and AIS, net of cash assumed	-15,697
Purchase of other investment	-1,250	-750
Purchases of property and equipment	-2,232	-2,301
Net cash used for investing activities	-33,700	-9,117
Financing activities:
Proceeds from the exercise of stock options	8,624	8,227
Payments in lieu of issuance of common stock for minimum payroll taxes	-1,013	-426
Proceeds from the issuance of stock under employee stock purchase plan	397	312
Net cash provided by financing activities	8,008	8,113
Effect of exchange rate changes on cash	-773	614
Net (decrease) increase in cash and cash equivalents	-1,438	13,181
Cash and cash equivalents at beginning of period	20,916	9,451
Cash and cash equivalents at end of period	19,478	22,632
Supplemental disclosure of cash flow information:
Cash paid for income taxes	1,090	1,106
Supplemental disclosure of non-cash investing and financing activities:
Contingent consideration related to acquisition of ECP	6,000
Fixed asset expenditures incurred, not yet paid	$501	$92

Nature_of_Business_and_Basis_o

Nature of Business and Basis of Preparation	9 Months Ended
	Dec. 31, 2014
Nature of Business and Basis of Preparation	Note 1. Nature of Business and Basis of Preparation
	Abiomed, Inc. (the “Company” or “Abiomed”), is a leading provider of mechanical circulatory support devices and offers a continuum of care to heart failure patients. The Company develops, manufactures and markets proprietary products that are designed to enable the heart to rest, heal and recover by improving blood flow and/or performing the pumping function of the heart. The Company’s products are used in the cardiac catheterization lab, or cath lab, by interventional cardiologists and in the heart surgery suite by heart surgeons for patients who are in need of hemodynamic support prophylactically or emergently before, during or after angioplasty or heart surgery procedures.
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles, or GAAP, for interim financial reporting and in accordance with Article 10 of Regulation S-X. Accordingly, they do not include all of the information and note disclosures required by GAAP for complete financial statements. These statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2014 that has been filed with the Securities and Exchange Commission, or SEC.
	In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments, which are of a normal recurring nature, necessary for a fair presentation of results for the interim periods presented. The results of operations for any interim period may not be indicative of results for the full fiscal year or any other subsequent period.
	There have been no changes in the Company’s significant accounting policies for the three and nine months ended December 31, 2014 as compared to the significant accounting policies described in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2014 that has been filed with the SEC, except for as noted below.
	In-Process Research and Development
	In-process research and development (“IPR&D”) assets are considered to be indefinite-lived until the completion or abandonment of the associated research and development projects. IPR&D represents the fair value assigned to technologies that the Company acquires, which at the time of acquisition have not reached technological feasibility and have no alternative future use. During the period that the assets are considered indefinite-lived, they are tested for impairment on an annual basis, or more frequently if the Company becomes aware of any events occurring or changes in circumstances that indicate that the fair value of the IPR&D assets are less than their carrying amounts. If and when development is complete, which generally occurs when the Company has regulatory approval and is able to commercialize products associated with the IPR&D assets, these assets are then deemed definite-lived and are amortized based on their estimated useful lives at that point in time. If development is terminated or abandoned, the Company may have a full or partial impairment charge related to the IPR&D assets, calculated as the excess of carrying value of the IPR&D assets over fair value.
	Contingent Consideration
	As discussed in Note 3. “Acquisitions,” on July 1, 2014, the Company acquired all of the issued shares of ECP Entwicklungsgesellschaft GmbH, a German limited liability company, or ECP, for $13.0 million in cash, with additional potential payments up to a maximum of $15.0 million based on the achievement of certain technical, regulatory and commercial milestones. These milestone payments may be made, at the Company’s option, by a combination of cash or Abiomed common stock.
	Contingent consideration is recorded as a liability and measured at fair value using a discounted cash flow model utilizing significant unobservable inputs including the probability of achieving each of the potential milestones and an estimated discount rate associated with the risks of the expected cash flows attributable to the various milestones. Significant increases or decreases in any of the probabilities of success or changes in expected timelines for achievement of any of these milestones would result in a significantly higher or lower fair value of these milestones, respectively, and commensurate changes to the associated liability. The fair value of the contingent consideration will be updated at each reporting date by reflecting the changes in fair value reflected in the Company’s condensed consolidated statements of operations.
	Recent Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers to provide updated guidance on revenue recognition. ASU 2014-09 requires a company to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In doing so, companies may need to use more judgment and make more estimates than under today’s guidance. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. ASU 2014-09 is effective for the Company in the first quarter of fiscal 2018. Early adoption is not permitted. The Company is currently evaluating the impact of adopting ASU 2014-09 on its condensed consolidated financial statements.

Net_Income_Per_Share

Net Income Per Share	9 Months Ended
	Dec. 31, 2014
Net Income Per Share	Note 2. Net Income Per Share
	Basic net income per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per share is computed by dividing net income by the weighted average number of dilutive common shares outstanding during the period. Diluted shares outstanding are calculated by adding to the weighted average shares outstanding any potential dilutive securities outstanding for the period. Potential dilutive securities include stock options, restricted stock awards, restricted stock units, performance-based stock awards and shares to be purchased under the Company’s employee stock purchase plan. In periods when a net loss is reported, all common stock equivalents are excluded from the calculation because they would have an anti-dilutive effect, meaning the loss per share would be reduced. Therefore, in periods when a loss is reported, basic and dilutive loss per share are the same. The Company’s basic and diluted net income per share for the three and nine months ended December 31, 2014 and 2013 were as follows (in thousands, except per share data):
		Three Months Ended				Nine Months Ended
		December 31,				December 31,
		2014		2013		2014		2013
	Basic Net Income Per Share
	Net income	$	12,684	$	4,393	$	14,814	$	3,729
	Weighted average shares used in computing basic net income per share		40,856		39,592		40,456		39,179
	Net income per share - basic	$	0.31	$	0.11	$	0.37	$	0.1
		Three Months Ended				Nine Months Ended
		December 31,				December 31,
		2014		2013		2014		2013
	Diluted Net Income Per Share
	Net income	$	12,684	$	4,393	$	14,814	$	3,729
	Weighted average shares used in computing basic net income per share		40,856		39,592		40,456		39,179
	Effect of dilutive securities		2,028		2,134		1,889		2,136
	Weighted average shares used in computing diluted net income per share		42,884		41,726		42,345		41,315
	Net income per share - diluted	$	0.3	$	0.11	$	0.35	$	0.09
	For the three and nine months ended December 31, 2014, approximately 1,000 and 36,000 shares underlying stock options primarily related to out-of-the-money stock options were not included in the computation of diluted earnings per share. Also, approximately 460,000 restricted shares in each of the three and nine months ended December 31, 2014 primarily related to performance-based awards for which milestones have not been met, were not included in the computation of diluted earnings per share.
	For the three and nine months ended December 31, 2013, approximately 3,000 and 252,000 shares underlying stock options primarily related to out-of-the-money stock options were not included in the computation of diluted earnings per share. Also, approximately 354,000 restricted shares in each of the three and nine months ended December 31, 2013 primarily related to performance-based awards for which milestones have not been met, were not included in the computation of diluted earnings per share.

Acquisitions

Acquisitions	9 Months Ended
	Dec. 31, 2014
Acquisitions	Note 3. Acquisitions
	Acquisition of ECP Entwicklungsgesellschaft mbH
	On July 1, 2014, the Company entered into a share purchase agreement with its wholly owned German subsidiary, Abiomed Europe GmbH (“Abiomed Europe”) and Syscore GmbH (“Syscore”), a limited liability company located in Berlin, Germany, providing for the Company’s acquisition of all of the share capital of ECP Entwicklungsgesellschaft mbH (“ECP”), a limited liability company incorporated in Germany. ECP is engaged in research, development, prototyping and the production of a percutaneous expandable catheter pump which increases blood circulation from the heart with an external drive shaft. The Company’s acquisition of ECP closed on July 1, 2014.
	The Company acquired ECP for $13.0 million in cash, with additional potential payouts totaling $15.0 million payable to Syscore based on the achievement of certain technical, regulatory and commercial milestones. These milestone payments may be made, at the Company’s option, by a combination of cash or Abiomed common stock. With respect to such milestone payments, the share purchase agreement provides:
		•		that, upon the earlier of (i) the Company’s receipt of European CE Marking approval relating to the sale of an expandable device based on certain patent rights acquired from ECP, or (ii) the Company’s bringing of a successful claim against a third party competitor (or reaching an economically equivalent settlement) for the infringement of certain patent rights acquired from ECP, it will pay Syscore an additional $7.0 million (provided that if such claim or settlement does not prohibit the third party competitor’s further marketing, production, sale, distribution, lease or use of any violating or infringing products, but only awards monetary damages to the Company or to Abiomed Europe, the amount payable to Syscore shall be limited to the lower of the amount of aggregate damages received and $7.0 million); and
		•		that, upon the first to occur of (i) the Company’s successful commercialization of one or more rotatable and expandable devices based on certain patent rights acquired from ECP, where such devices achieve aggregate worldwide revenues of $125.0 million, including the revenues of third party licensees, or (ii) the Company’s sale of (A) ECP, (B) all or substantially all of ECP’s assets, or (C) certain of ECP’s patent rights, the Company will pay to Syscore the lesser of (x) one-half of the profits earned from such sale described in the foregoing item (ii), after accounting for the costs of acquiring and operating ECP, or (y) $15.0 million (less any previous milestone payment).
	ECP’s Acquisition of AIS GmbH Aachen Innovative Solutions
	In connection with the Company’s acquisition of ECP, ECP acquired all of the share capital of AIS GmbH Aachen Innovative Solutions (“AIS”), a limited liability company incorporated in Germany, pursuant to a share purchase agreement dated as of June 30, 2014, by and among ECP and AIS’s four individual shareholders. AIS, based in Aachen, Germany, holds certain intellectual property useful to ECP’s business, and, prior to being acquired by ECP, had licensed such intellectual property to ECP.
	The purchase price for the acquisition of AIS’s share capital was approximately $2.8 million in cash and the acquisition closed immediately prior to Abiomed Europe’s acquisition of ECP. The share purchase agreement contains representations, warranties and closing conditions customary for transactions of its size and nature.
	Preliminary Purchase Price Allocation
	The acquisition was accounted for as a business combination. The purchase price for the acquisition has been allocated to the assets acquired and liabilities assumed based on their estimated fair values. The purchase price allocation presented herein is preliminary. The final purchase price allocation will be determined after completion of an analysis to determine the fair value of all assets acquired and liabilities assumed, but in no event later than one year following completion of the acquisition. Accordingly, the final acquisition accounting adjustments could differ materially from the preliminary amounts presented herein. Any increase or decrease in the fair value of the assets acquired and liabilities assumed, as compared to the information shown herein, could also change the portion of purchase price allocated to goodwill, and could impact the operating results of the Company following the acquisition due to differences in purchase price allocation, depreciation and amortization related to some of these assets and liabilities.
	The acquisition-date fair value of the consideration transferred is as follows:
			Total
			Acquisition
			Date Fair
			Value (in
			thousands)
	Cash consideration		$	15,750
	Contingent consideration			6,000
	Total consideration transferred		$	21,750
	The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed on July 1, 2014, the date of acquisition (in thousands):
	Acquired assets:
	Cash and cash equivalents		$	53
	Accounts receivable			25
	Property and equipment			619
	In-process research and development			18,500
	Goodwill			1,964
	Long-term deferred tax assets			874
	Other assets acquired			141
	Total assets acquired			22,176
	Liabilities assumed:
	Accounts payable			295
	Accrued liabilities			131
	Total liabilities assumed			426
	Net assets acquired		$	21,750
	IPR&D is principally the estimated fair value of the ECP and AIS technology which had not reached commercial technological feasibility nor had alternative future use at the time of the acquisition and therefore considered IPR&D, with assigned values to be allocated among the various IPR&D assets acquired.
	Goodwill is calculated as the difference between the acquisition-date fair value of the consideration transferred and the fair values of the assets acquired and liabilities assumed. The goodwill is not expected to be deductible for income tax purposes.
	All legal, consulting and other costs related to the acquisition, aggregating approximately $1.1 million, have been expensed as incurred and are included in selling, general and administrative expenses in our condensed consolidated statements of operations. The results of operations for ECP and AIS are included in the Company’s condensed consolidated statements of operations for the period from the July 1, 2014 acquisition date to December 31, 2014. The Company has no material revenues and incurred $2.3 million in net losses from July 1, 2014 through December 31, 2014 associated with the operations of ECP. This also includes a $0.4 million expense for the change in fair value of the contingent consideration from July 1, 2014 to December 31, 2014.
	The following unaudited pro forma information presents the combined results of operations for the three and nine months ended December 31, 2014 and 2013, as if the Company had completed the ECP and AIS acquisitions at the beginning of fiscal 2014. The pro forma financial information is provided for comparative purposes only and is not necessarily indicative of what actual results would have been had the acquisition occurred on the date indicated, nor does it give effect to synergies, cost savings, fair market value adjustments, immaterial amortization expense and other changes expected to result from the acquisition. Accordingly, the pro forma financial results do not purport to be indicative of consolidated results of operations as of the date hereof, for any period ended on the date hereof, or for any other future date or period.
	The pro forma consolidated financial information has been calculated after applying the Company’s accounting policies and includes adjustments for transaction-related costs, to eliminate revenues earned by AIS from ECP and expenses paid by ECP to AIS associated with a license agreement between the two parties, interest expense incurred by ECP related to bank loans accounted as if the repayment of ECP debt had occurred on April 1, 2013 and was not outstanding during the periods, and income tax provision of AIS due to the elimination of revenue on the license agreement with ECP.
			Three Months Ended				Nine Months Ended
			December 31,				December 30,
			2014		2013		2014		2013
			(in $000’s)				(in $000’s)
	Revenue		$	62,005	$	46,202	$	162,766	$	133,244
	Income before income tax provision			13,665		3,910		16,409		2,096
	Net income			12,686		3,652		14,920		1,057

Marketable_Securities_and_Fair

Marketable Securities and Fair Value Measurements	9 Months Ended
	Dec. 31, 2014
Marketable Securities and Fair Value Measurements	Note 4. Marketable Securities and Fair Value Measurements
	Marketable Securities
	The Company’s marketable securities are classified as available-for-sale securities and, accordingly, are recorded at fair value. The difference between amortized cost and fair value is included in stockholders’ equity.
	The Company’s marketable securities at December 31, 2014 and March 31, 2014 are invested in the following:
		Amortized		Gross			Gross			Fair Market
		Cost		Unrealized			Unrealized			Value
				Gains			Losses
		(in $000’s)
	At December 31, 2014:
	US Treasury securities	$	19,487	$	—		$	—		$	19,487
	Short-term government-backed securities		74,478		5			(24	)		74,459
	Long-term government-backed securities		17,997		2			(17	)		17,982
		$	111,962	$	7		$	(41	)	$	111,928
		Amortized		Gross			Gross			Fair Market
		Cost		Unrealized			Unrealized			Value
				Gains			Losses
		(in $000’s)
	At March 31, 2014:
	US Treasury securities	$	31,487	$	—		$	—		$	31,487
	Short-term government-backed securities		24,174		6			(4	)		24,176
	Long-term government-backed securities		41,779		8			(26	)		41,761
		$	97,440	$	14		$	(30	)	$	97,424
	Fair Value Hierarchy
	Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three categories:
	Level 1: Quoted market prices in active markets for identical assets or liabilities.
	Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data.
	Level 3: Unobservable inputs that are not corroborated by market data.
	Level 1 primarily consists of financial instruments whose values are based on quoted market prices such as exchange-traded instruments and listed equities.
	Level 2 includes financial instruments that are valued using models or other valuation methodologies. These models are primarily industry-standard models that consider various assumptions, including time value, yield curve, volatility factors, prepayment speeds, default rates, loss severity, current market and contractual prices for the underlying financial instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace.
	Level 3 is comprised of unobservable inputs that are supported by little or no market activity. Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flows, or similar techniques, and at least one significant model assumption or input is unobservable.
	The following table presents the Company’s financial instruments recorded at fair value in the condensed consolidated balance sheets, classified according to the three categories described above:
		Level 1		Level 2			Level 3			Fair Value
		(in $000’s)
	At December 31, 2014:
	Assets
	U.S. Treasury securities	$	—	$	19,487		$	—		$	19,487
	Short-term government-backed securities		—		74,459			—			74,459
	Long-term government-backed securities		—		17,982			—			17,982
	Liabilities
	Contingent consideration		—		—			6,365			6,365
		Level 1		Level 2			Level 3			Fair Value
		(in $000’s)
	At March 31, 2014:
	U.S. Treasury securities	$	—	$	31,487		$	—		$	31,487
	Short-term government-backed securities		—		24,176			—			24,176
	Long-term government-backed securities		—		41,761			—			41,761
	The Company has determined that the estimated fair value of its investments in U.S. Treasury securities, short-term government-backed securities and long-term government-backed securities are reported as Level 2 as they are not exchange-traded instruments.
	The Company’s financial liabilities consisted of contingent consideration potentially payable to former ECP shareholders related to the acquisition of ECP in July 2014. This liability is reported as Level 3 as estimated fair value of the contingent consideration related to the acquisition of the ECP requires significant management judgment or estimation and is calculated using the income approach, using various revenue and cost assumptions and applying a probability to each outcome.
	The following table summarizes the change in fair value, as determined by Level 3 inputs, of the contingent consideration for the nine months ended December 31, 2014:
		December 31,
		2014
		(in $000’s)
	Beginning balance	$	—
	Additions		6,000
	Payments		—
	Change in fair value		365
	Ending balance	$	6,365
	The change in fair value of the contingent consideration of $0.4 million for the nine months ended December 31, 2014 was primarily due to an increase in fair value due to the effect of the passage of time on the fair value measurement. Adjustments associated with the change in fair value of contingent consideration are included in research and development expenses on the Company’s condensed consolidated statements of operations.
	The following table presents quantitative information about the inputs and valuation methodologies used for the Company’s fair value measurements classified in Level 3 as of December 31, 2014:
		Fair Value at				Significant	Weighted Average (range, if
		December 31, 2014				Unobservable Input	applicable)
		(in $000’s)
	Contingent consideration	$	6,365	Probability weighted income approach		Milestone dates	2018 to 2021
						Discount rate Probability of occurrence	8% to 12%
0% to 100%
Other Investments
In May 2013, the Company invested $0.8 million in preferred stock of a private medical technology company. In addition, the Company committed to invest an additional $0.7 million if the private medical technology company achieves certain milestones or receives shareholder approval requesting the additional funding. In September 2014, the private medical technology company requested this additional funding and the Company paid the additional $0.7 million. There are no additional outstanding funding commitments associated with this investment.
In November 2014, the Company invested $0.5 million in a 0% interest promissory note to a separate private medical technology company that is convertible into preferred stock of the company based upon a qualified financing as defined in the agreement governing the investment.
In January 2015, the Company invested $0.6 million in a 5% interest promissory note to another private medical technology company. This promissory note and accrued interest is convertible into preferred stock of the company upon a qualified financing as defined in the agreement governing the investment. The Company could also be required to invest an additional $0.4 million in the form of a promissory note if certain milestones are met.
The Company’s other investments are accounted for using the cost method and are measured at fair value on a nonrecurring basis only if there are identified events or changes in circumstances that may have a significant adverse effect on the fair value of these investments. The aggregate carrying amount of other investments was $2.0 million and $0.8 million at December 31, 2014 and March 31, 2014, respectively, and is classified within other assets in the unaudited condensed consolidated balance sheets.

Inventories

Inventories	9 Months Ended
	Dec. 31, 2014
Inventories	Note 5. Inventories
	The components of inventories are as follows:
		December 31,		March 31,
		2014		2014
		(in $000’s)
	Raw materials and supplies	$	6,722	$	6,414
	Work-in-progress		6,592		6,261
	Finished goods		2,130		1,273
		$	15,444	$	13,948
	The Company’s inventories relate to its circulatory care product lines, primarily the Impella and AB5000 product platforms. Finished goods and work-in-process inventories consist of direct material, labor and overhead. During the nine months ended December 31, 2014 and 2013, the Company recorded $1.1 million and $0.6 million, respectively, in write-downs of inventory.

Goodwill_and_InProcess_Researc

Goodwill and In-Process Research and Development	9 Months Ended
	Dec. 31, 2014
Goodwill and In-Process Research and Development	Note 6. Goodwill and In-Process Research and Development
	Goodwill
	Goodwill has been recorded in connection with the Company’s acquisitions of Impella Cardiosystems AG, or Impella, in 2005 and ECP and AIS in July 2014, as discussed in Note 3. “Acquisitions.” The carrying value of goodwill and the change in the balance for the nine months ended December 31, 2014 is as follows:
		December 31,
		2014
		(in $000’s)
	Beginning balance	$	37,990
	Additions		1,964
	Foreign currency translation impact		(4,627	)
	Ending balance	$	35,327
	The Company has no accumulated impairment losses on goodwill.
	In-Process Research and Development
	As described in Note 3. “Acquisitions,” in July 2014, the Company acquired ECP and AIS and recorded $18.5 million of IPR&D. The estimated fair value of the IPR&D was determined using a probability-weighted income approach, which discounts expected future cash flows to present value. The projected cash flows from the expandable catheter pump technology were based on certain key assumptions, including estimates of future revenue and expenses, taking into account the stage of development of the technology at the acquisition date and the time and resources needed to complete development. The Company used a discount rate of 22.5% and cash flows that have been probability adjusted to reflect the risks of product commercialization, which the Company believes are appropriate and representative of market participant assumptions.
	The carrying value of the Company’s IPR&D assets and the change in the balance for the nine months ended December 31, 2014 is as follows:
		December 31,
		2014
		(in $000’s)
	Beginning balance	$	—
	Additions		18,500
	Foreign currency translation impact		(2,020	)
	Ending balance	$	16,480

Accrued_Expenses

Accrued Expenses	9 Months Ended
	Dec. 31, 2014
Accrued Expenses	Note 7. Accrued Expenses
	Accrued expenses consist of the following:
		December 31,		March 31,
		2014		2014
		(in $000’s)
	Employee compensation	$	11,463	$	11,967
	Research and development		1,518		1,587
	Sales and income taxes		1,032		1,445
	Warranty		884		794
	Professional, legal and accounting fees		836		1,304
	Other		828		802
		$	16,561	$	17,899
	Employee compensation consists primarily of accrued bonuses, accrued commissions and accrued employee benefits at December 31, 2014 and March 31, 2014.

StockBased_Compensation

Stock-Based Compensation	9 Months Ended
	Dec. 31, 2014
Stock-Based Compensation	Note 8. Stock-Based Compensation
	The following table summarizes stock-based compensation expense by financial statement line item in the Company’s consolidated statements of operations for the three and nine months ended December 31, 2014 and 2013:
		Three Months Ended						Nine Months Ended
		December 31,						December 31,
		2014			2013			2014			2013
		(in $000’s)						(in $000’s)
	Cost of product revenue	$	160		$	130		$	517		$	476
	Research and development		840			527			2,466			1,813
	Selling, general and administrative		3,382			991			9,713			6,078
		$	4,382		$	1,648		$	12,696		$	8,367
	The components of stock-based compensation for the three and nine months ended December 31, 2014 and 2013 were as follows:
		Three Months Ended						Nine Months Ended
		December 31,						December 31,
		2014			2013			2014			2013
		(in $000’s)						(in $000’s)
	Restricted stock units and awards	$	3,640		$	1,020		$	10,394		$	6,118
	Stock options		666			571			2,089			2,094
	Employee stock purchase plan		76			57			213			155
		$	4,382		$	1,648		$	12,696		$	8,367
	Stock Options
	The following table summarizes the stock option activity for the nine months ended December 31, 2014:
		Shares			Weighted			Weighted			Aggregate
		Underlying			Average			Average			Intrinsic
		Options			Exercise			Remaining			Value
		(in thousands)			Price			Contractual			(in thousands)
								Term (years)
	Outstanding at April 1, 2014		3,492		$	13.27			4.92
	Granted		319			22.57
	Exercised		(723	)		11.91
	Cancelled and expired		(11	)		18.34
	Outstanding at December 31, 2014		3,077		$	14.54			5.24		$	72,379
	Exercisable at December 31, 2014		2,307		$	11.96			4.13		$	60,232
	Options vested and expected to vest at December 31, 2014		3,009		$	14.35			5.16		$	71,331
	The aggregate intrinsic value of options exercised was $12.6 million for the nine months ended December 31, 2014. The total fair value of options vested during the nine months ended December 31, 2014 was $2.4 million.
	The remaining unrecognized stock-based compensation expense for unvested stock option awards at December 31, 2014 was approximately $5.1 million, net of forfeitures, and the weighted-average period over which this cost will be recognized is 2.3 years.
	The Company estimates the fair value of each stock option granted at the grant date using the Black-Scholes option valuation model. The weighted average grant-date fair value for options granted during the nine months ended December 31, 2014 and 2013 was $9.18 and $9.84 per share, respectively.
	The fair value of options granted during the three and nine months ended December 31, 2014 and 2013 were calculated using the following weighted average assumptions:
		Three Months Ended						Nine Months Ended
		December 31,						December 31,
		2014			2013			2014			2013
	Risk-free interest rate		1.7	%		1.71	%		1.6	%		0.94	%
	Expected option life (years)		4.17			4.18			4.19			4.25
	Expected volatility		49.7	%		50.2	%		49.3	%		51.8	%
	The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for a term consistent with the expected life of the stock options. Volatility assumptions are calculated based on the historical volatility of the Company’s stock and adjustments for factors not reflected in historical volatility that may be more indicative of future volatility. The Company estimates the expected term of options based on historical exercise experience and estimates of future exercises of unexercised options. An expected dividend yield of zero is used in the option valuation model because the Company does not pay cash dividends and does not expect to pay any cash dividends in the foreseeable future. The Company estimates forfeitures based on an analysis of actual historical forfeitures, adjusted to reflect that historical forfeitures may not be indicative of forfeitures in the future.
	Restricted Stock and Restricted Stock Units
	In addition to stock option grants, the Company also has the ability to grant restricted stock and restricted stock units. Similar to stock options, these restricted stock and restricted stock unit grants are subject to certain vesting criteria. The following table summarizes the activity for the nine months ended December 31, 2014:
		Number of			Weighted
		Shares			Average
					Grant Date
					Fair Value
		(in thousands)			(per share)
	Outstanding at April 1, 2014		1,174		$	21.37
	Granted		674			22.07
	Vested		(465	)		20.48
	Forfeited		(136	)		22.99
	Outstanding at December 31, 2014		1,247		$	21.9
	The remaining unrecognized compensation expense for outstanding restricted stock awards and restricted stock units, including performance-based awards, as of December 31, 2014 was $13.9 million and the weighted-average period over which this cost will be recognized is 1.9 years.
	The weighted average grant-date fair value for restricted stock and restricted stock units granted during the nine months ended December 31, 2014 and 2013 was $22.07 and $23.18 per share, respectively. The total fair value of restricted stock and restricted stock units vested during the nine months ended December 31, 2014 and 2013 was $9.5 million and $6.0 million, respectively.
	Performance Based Awards
	Included in the restricted stock and restricted stock units activity discussed above are certain awards that vest subject to certain performance-based criteria.
	In May 2014, performance-based awards of restricted stock units for the potential issuance of 379,752 shares of common stock were issued to certain executive officers and employees, all of which vest upon achievement of prescribed service milestones by the award recipients and performance milestones by the Company. As of December 31, 2014, the Company is recognizing compensation expense based on the probable outcome related to the prescribed performance milestones on the outstanding awards.
	In May 2013, performance-based awards of restricted stock units for the potential issuance of 268,988 shares of common stock were issued to certain executive officers and employees, all of which vest upon achievement of prescribed service milestones by the award recipients and performance milestones by the Company. As of December 31, 2014, the Company has met the prescribed performance milestones for the outstanding awards such that 149,805 shares of common stock will vest subject to service requirements for vesting for these employees and the compensation expense is being recognized accordingly.
	In May 2012, performance-based awards of restricted stock units for the potential issuance of 195,188 shares of common stock were issued to certain executive officers and employees of the Company, all of which will vest upon achievement of prescribed service milestones by the award recipients and performance milestones by the Company. As of December 31, 2014, the Company has met the prescribed performance milestones for these awards. These awards are still subject to service requirements for vesting for these employees and the compensation expense is being recognized accordingly.
	In May 2011 and June 2011, performance-based awards of restricted stock units for the potential issuance of 284,000 shares of common stock were issued to certain executive officers and members of the senior management of the Company, which vest upon achievement of prescribed service milestones by the award recipients and performance milestones by the Company. As of December 31, 2014, the Company has met the prescribed milestones for 234,000 shares underlying these awards and recorded all related stock compensation expense. In March 2014, the Company modified the performance condition on the remaining 50,000 restricted stock units. As of December 31, 2014, the Company believes that it is probable that the prescribed performance milestones will be met on these restricted stock units and the compensation expense is being recognized accordingly.
During the three and nine months ended December 31, 2014, the Company has recorded $2.4 million and $6.1 million, respectively, in stock-based compensation expense for equity awards in which the prescribed performance milestones have been achieved or are probable of being achieved. The remaining unrecognized compensation expense related to these equity awards at December 31, 2014 is $6.2 million based on the Company’s current assessment of probability of achieving the performance milestones. The weighted-average period over which this cost will be recognized is 1.7 years.

Income_Taxes

Income Taxes	9 Months Ended
	Dec. 31, 2014
Income Taxes
	Note 9. Income Taxes
	The Company’s income tax provision is comprised of a current and deferred tax provision. The current income tax provision is primarily related to German and certain U.S. state taxes. Deferred income taxes are recognized for the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each fiscal year end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce net deferred tax assets to the amount that is more likely than not to be realized. The effective tax rates for the three and nine months ended December 31, 2014 and 2013 are significantly lower than the statutory rate due to the utilization of net operating losses in both the U.S. and Germany.
	The Company regularly assesses its ability to realize its deferred tax assets. Assessing the realization of deferred tax assets requires significant management judgment. In determining whether its deferred tax assets are more likely than not realizable, the Company evaluated all available positive and negative evidence, and weighted the evidence based on its objectivity. Evidence the Company considered included its history of net operating losses incurred for most of its existence, expiration of various federal and state attributes, the uncertainty relative to the Marketing and Labeling Investigation and the FCA Investigation (each as defined below in “Note 10. Commitments and Contingencies—Litigation”) and the Company’s Pre-Market Approval, or PMA, application with the U.S. Food and Drug Administration, or FDA, for its Impella 2.5 product, the Company’s expansion into new markets, such as Japan, the government reimbursement environment for the Company’s products, the Company’s profitability for recent years and uncertainties around the Company’s future profitability. Based on the review of all available evidence, the Company determined that the objectively verifiable negative evidence outweighed the positive evidence and it has recorded a valuation allowance to reduce its deferred tax assets to the amount that is more likely than not to be realizable as of December 31, 2014. The Company will continue to assess the level of the valuation allowance required. If sufficient positive evidence exists in future periods to support a release of some or all of the valuation allowance, such a release would likely have a material impact on its results of operations.
	As of December 31, 2014, the Company has accumulated a long-term deferred tax liability of $7.1 million as the result of a difference in accounting for the Company’s goodwill associated with its Impella acquisition that was completed in May 2005, which is amortizable over 15 years for tax purposes but not amortizable for book purposes. The net long-term deferred tax liability cannot be offset against the Company’s deferred tax assets since it relates to an indefinite-lived asset and is not anticipated to reverse in the same period. As of December 31, 2014, the Company has net long-term deferred tax assets of $0.8 million relating to differences between the book and tax basis of assets and liabilities associated with the ECP acquisition completed in July 2014.
	The Company is subject to U.S. federal income tax, as well as income tax of multiple state and foreign jurisdictions. The Company has accumulated significant losses since its inception in 1981. All tax years remain subject to examination by major tax jurisdictions, including the federal government and the Commonwealth of Massachusetts. Because the Company has net operating loss and tax credit carryforwards which may be utilized in future years to offset taxable income, those years may also be subject to review by relevant taxing authorities if the carryforwards are utilized.

Commitments_and_Contingencies

Commitments and Contingencies	9 Months Ended
	Dec. 31, 2014
Commitments and Contingencies	Note 10. Commitments and Contingencies
	Commitments
	In July 2013, the Company entered into a lease agreement to continue renting its existing space in Aachen, Germany through July 31, 2023. The building serves as the Company’s European headquarters and houses most of the manufacturing operations for its Impella product line. The lease payments are approximately 34,500€ (euro) (approximately U.S. $42,000 at December 31, 2014 exchange rates) per month.
	In February 2014, the Company entered into a lease agreement to continue renting its existing space in Danvers, Massachusetts through February 28, 2021. Monthly rent is as follows:
		•	The base rent for March 2014 through April 2014 was $66,000 per month; and
		•	The base rent for May 2014 through February 2016 is $74,050 per month; and
		•	The base rent for March 2016 through February 2018 will be $70,750 per month; and
		•	The base rent for March 2018 through February 2021 will be $72,750 per month.
	License Agreement
	In April 2014, the Company entered into an exclusive license agreement with Opsens, Inc. for the rights to certain optical sensor technologies in the field of cardio-circulatory assist devices. The Company made a $1.5 million upfront payment upon execution of the agreement and agreed to make additional payments of up to $4.5 million upon the achievement of certain development milestones.
	Contingent Consideration
	As discussed in Note 3. “Acquisitions,” in July 2014, the Company acquired ECP using a combination of cash and potential post-acquisition milestone payments. These milestone payments may be payable at some time over the next 20 years, depending on the achievement of certain technical, regulatory and commercial milestones. The maximum amount of the aggregate milestone payments could be $15.0 million. As of December 31, 2014, the fair value of the contingent consideration was $6.4 million.
	Litigation
	From time to time, the Company is involved in legal and administrative proceedings and claims of various types. In some actions, the claimants seek damages, as well as other relief, which, if granted, would require significant expenditures. The Company records a liability in its condensed consolidated financial statements for these matters when a loss is known or considered probable and the amount can be reasonably estimated. The Company reviews these estimates each accounting period as additional information is known and adjusts the loss provision when appropriate. If a matter is both probable to result in liability and the amounts of loss can be reasonably estimated, the Company estimates and discloses the possible loss or range of loss. If the loss is not probable or cannot be reasonably estimated, a liability is not recorded in its condensed consolidated financial statements.
	On October 26, 2012, the Company was informed that the Department of Justice, United States Attorney’s Office for the District of Columbia was conducting an investigation (the “Marketing and Labeling Investigation”) focused on the Company’s marketing and labeling of the Impella 2.5. On October 31, 2012, the Company accepted service of a subpoena related to this investigation seeking documents related to the Impella 2.5. The Company believes that is has substantially complied with the subpoena and has submitted the requested documents to the United States Attorney’s Office. On September 13, 2013, the Company entered into a tolling agreement with the United States Attorney’s Office, pursuant to which the Company and the United States Attorney’s Office mutually agreed to toll the applicable statutes of limitations for all criminal, civil and administrative offenses and violations that could be charged or claimed against the Company as of that date until June 2, 2014. On May 27, 2014, the Company executed an extension of the tolling agreement through February 2, 2015. The investigation is ongoing; however, the Company is unable to predict the ultimate outcome or determine whether a liability has been incurred or make an estimate of the reasonably possible liability, if any, that could result from any unfavorable outcome associated with this investigation. The Company has incurred significant expenses related to this investigation and expects to continue to incur additional expenses in the future.
	On November 16 and 19, 2012, two purported class action complaints were filed against the Company and certain of its officers in the U.S. District Court for the District of Massachusetts, or the District Court, by alleged purchasers of its common stock, on behalf of themselves and persons or entities that purchased or acquired common stock of the Company between August 5, 2011 and October 31, 2012. The complaints alleged that the defendants violated the federal securities laws in connection with disclosures related to the Company’s marketing and labeling of the Impella 2.5 product and seek damages in an unspecified amount. The District Court consolidated these complaints and a consolidated amended complaint was filed by the plaintiffs on May 20, 2013. On July 8, 2013, the Company filed a motion to dismiss the consolidated class action. Oral arguments on the Company’s motion to dismiss were conducted before the District Court on September 18, 2013. On April 10, 2014, the District Court entered an order granting the Company’s motion and dismissed the consolidated and amended complaint. On May 9, 2014, the plaintiffs filed a notice of appeal, and subsequently filed their appellate brief with the U.S. Court of Appeals for the First Circuit, or the First Circuit, on July 16, 2014. Oral arguments were conducted before the First Circuit on January 8, 2015. We are currently awaiting the ruling of the First Circuit court.
	On February 4, 2013, an alleged stockholder of the Company filed a derivative action with the District Court on the Company’s behalf against each of the Company’s directors. The complaint alleged that the directors breached their fiduciary duties to the Company and its stockholders in connection with disclosures related to the Company’s marketing and labeling of its Impella 2.5 product and sought damages in an unspecified amount. On March 22, 2013, the Company filed a motion to dismiss the derivative action. On June 21, 2013, the District Court granted the Company’s motion to dismiss. The plaintiff appealed the dismissal to the First Circuit. The First Circuit affirmed the District Court’s Order of Dismissal in a written opinion issued on June 10, 2014. The Company does not expect any further activity related to this matter.
	On April 25, 2014, the Company received a subpoena from the Boston regional office of the United States Department of Health and Human Services, or HHS, Office of Inspector General requesting materials relevant to the Company’s reimbursement of expenses and remuneration to healthcare providers for a six month period from July 2012 through December 2012 in connection with a civil investigation under the False Claims Act (the “FCA Investigation” and, together with the Marketing and Labeling Investigation, the “DOJ Investigations”). The Company submitted the requested documents to HHS and believes that it substantially complied with the subpoena. On November 6, 2014, the Company received notice from the Department of Justice, United States Attorney’s Office for the District of Massachusetts in the form of a Civil Investigative Demand (“CID”) requesting additional document production relating to this matter for the time period of January 1, 2012 through December 31, 2013. The Company is currently is the process of responding to the additional requests for information contained in the CID and intends to continue to cooperate with the U.S. Attorney’s Office in connection with the FCA investigation.
	The Company is unable to estimate a potential liability with respect to the DOJ Investigations and the appeal of the dismissal of the purported class action claim. There are numerous factors that make it difficult to meaningfully estimate possible loss or range of loss at this stage of these investigations and lawsuits, including that: the proceedings are in relatively early stages, there are significant factual and legal issues to be resolved and information obtained or rulings made during any lawsuits or investigations could affect the methodology for calculation. In addition, with respect to claims for which damages are the requested relief, no amount of loss or damages has been specified. Therefore, the Company is unable at this time to estimate its possible losses and accordingly, no adjustment has been made to the financial statements to reflect the outcome of these uncertainties.

Segment_and_Enterprise_Wide_Di

Segment and Enterprise Wide Disclosures	9 Months Ended
	Dec. 31, 2014
Segment and Enterprise Wide Disclosures	Note 11. Segment and Enterprise Wide Disclosures
	The Company operates in one business segment—the research, development and sale of medical devices to assist or replace the pumping function of the failing heart. The Company’s chief operating decision maker (determined to be the Chief Executive Officer) does not manage any part of the Company separately, and the allocation of resources and assessment of performance are based on the Company’s condensed consolidated operating results. Approximately 71% and 74% of the Company’s total consolidated assets are located within the U.S. as of December 31, 2014 and March 31, 2014, respectively. The remaining assets are located primarily in Germany and include goodwill and in-process research and development of $51.8 million and $35.4 million at December 31, 2014 and March 31, 2014, respectively, associated with the Impella acquisition in May 2005 and ECP acquisition in July 2014. Total assets outside of the U.S. excluding goodwill and in-process research and development amounted to 8% of total consolidated assets as of December 31, 2014 and March 31, 2014. International sales (primarily in Europe) accounted for 9% and 10% of total revenue for the three and nine months ended December 31, 2014, respectively, and 10% and 8% of total revenue for the three and nine months ended December 31, 2013, respectively.

Nature_of_Business_and_Basis_o1

Nature of Business and Basis of Preparation (Policies)	9 Months Ended
	Dec. 31, 2014
In-Process Research and Development	In-Process Research and Development
	In-process research and development (“IPR&D”) assets are considered to be indefinite-lived until the completion or abandonment of the associated research and development projects. IPR&D represents the fair value assigned to technologies that the Company acquires, which at the time of acquisition have not reached technological feasibility and have no alternative future use. During the period that the assets are considered indefinite-lived, they are tested for impairment on an annual basis, or more frequently if the Company becomes aware of any events occurring or changes in circumstances that indicate that the fair value of the IPR&D assets are less than their carrying amounts. If and when development is complete, which generally occurs when the Company has regulatory approval and is able to commercialize products associated with the IPR&D assets, these assets are then deemed definite-lived and are amortized based on their estimated useful lives at that point in time. If development is terminated or abandoned, the Company may have a full or partial impairment charge related to the IPR&D assets, calculated as the excess of carrying value of the IPR&D assets over fair value.
Contingent Consideration	Contingent Consideration
	As discussed in Note 3. “Acquisitions,” on July 1, 2014, the Company acquired all of the issued shares of ECP Entwicklungsgesellschaft GmbH, a German limited liability company, or ECP, for $13.0 million in cash, with additional potential payments up to a maximum of $15.0 million based on the achievement of certain technical, regulatory and commercial milestones. These milestone payments may be made, at the Company’s option, by a combination of cash or Abiomed common stock.
	Contingent consideration is recorded as a liability and measured at fair value using a discounted cash flow model utilizing significant unobservable inputs including the probability of achieving each of the potential milestones and an estimated discount rate associated with the risks of the expected cash flows attributable to the various milestones. Significant increases or decreases in any of the probabilities of success or changes in expected timelines for achievement of any of these milestones would result in a significantly higher or lower fair value of these milestones, respectively, and commensurate changes to the associated liability. The fair value of the contingent consideration will be updated at each reporting date by reflecting the changes in fair value reflected in the Company’s condensed consolidated statements of operations.
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers to provide updated guidance on revenue recognition. ASU 2014-09 requires a company to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In doing so, companies may need to use more judgment and make more estimates than under today’s guidance. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. ASU 2014-09 is effective for the Company in the first quarter of fiscal 2018. Early adoption is not permitted. The Company is currently evaluating the impact of adopting ASU 2014-09 on its condensed consolidated financial statements.

Net_Income_Per_Share_Tables

Net Income Per Share (Tables)	9 Months Ended
	Dec. 31, 2014
Computation of Basic and Diluted Net Income Per Share	The Company’s basic and diluted net income per share for the three and nine months ended December 31, 2014 and 2013 were as follows (in thousands, except per share data):
		Three Months Ended				Nine Months Ended
		December 31,				December 31,
		2014		2013		2014		2013
	Basic Net Income Per Share
	Net income	$	12,684	$	4,393	$	14,814	$	3,729
	Weighted average shares used in computing basic net income per share		40,856		39,592		40,456		39,179
	Net income per share - basic	$	0.31	$	0.11	$	0.37	$	0.1
		Three Months Ended				Nine Months Ended
		December 31,				December 31,
		2014		2013		2014		2013
	Diluted Net Income Per Share
	Net income	$	12,684	$	4,393	$	14,814	$	3,729
	Weighted average shares used in computing basic net income per share		40,856		39,592		40,456		39,179
	Effect of dilutive securities		2,028		2,134		1,889		2,136
	Weighted average shares used in computing diluted net income per share		42,884		41,726		42,345		41,315
	Net income per share - diluted	$	0.3	$	0.11	$	0.35	$	0.09

Acquisitions_Tables

Acquisitions (Tables)	9 Months Ended
	Dec. 31, 2014
Fair Value of the Consideration Transferred	The acquisition-date fair value of the consideration transferred is as follows:
		Total
		Acquisition
		Date Fair
		Value (in
		thousands)
	Cash consideration	$	15,750
	Contingent consideration		6,000
	Total consideration transferred	$	21,750
Preliminary Estimated Fair Values of the Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed on July 1, 2014, the date of acquisition (in thousands):
	Acquired assets:
	Cash and cash equivalents	$	53
	Accounts receivable		25
	Property and equipment		619
	In-process research and development		18,500
	Goodwill		1,964
	Long-term deferred tax assets		874
	Other assets acquired		141
	Total assets acquired		22,176
	Liabilities assumed:
	Accounts payable		295
	Accrued liabilities		131
	Total liabilities assumed		426
	Net assets acquired	$	21,750
Pro Forma Consolidated Financial Information
		Three Months Ended				Nine Months Ended
		December 31,				December 30,
		2014		2013		2014		2013
		(in $000’s)				(in $000’s)
	Revenue	$	62,005	$	46,202	$	162,766	$	133,244
	Income before income tax provision		13,665		3,910		16,409		2,096
	Net income		12,686		3,652		14,920		1,057

Marketable_Securities_and_Fair1

Marketable Securities and Fair Value Measurements (Tables)	9 Months Ended
	Dec. 31, 2014
Marketable Securities	The Company’s marketable securities at December 31, 2014 and March 31, 2014 are invested in the following:
		Amortized		Gross			Gross			Fair Market
		Cost		Unrealized			Unrealized			Value
				Gains			Losses
		(in $000’s)
	At December 31, 2014:
	US Treasury securities	$	19,487	$	—		$	—		$	19,487
	Short-term government-backed securities		74,478		5			(24	)		74,459
	Long-term government-backed securities		17,997		2			(17	)		17,982
		$	111,962	$	7		$	(41	)	$	111,928
		Amortized		Gross			Gross			Fair Market
		Cost		Unrealized			Unrealized			Value
				Gains			Losses
		(in $000’s)
	At March 31, 2014:
	US Treasury securities	$	31,487	$	—		$	—		$	31,487
	Short-term government-backed securities		24,174		6			(4	)		24,176
	Long-term government-backed securities		41,779		8			(26	)		41,761
		$	97,440	$	14		$	(30	)	$	97,424
Financial Instruments Recorded at Fair Value	The following table presents the Company’s financial instruments recorded at fair value in the condensed consolidated balance sheets, classified according to the three categories described above:
		Level 1		Level 2			Level 3			Fair Value
		(in $000’s)
	At December 31, 2014:
	Assets
	U.S. Treasury securities	$	—	$	19,487		$	—		$	19,487
	Short-term government-backed securities		—		74,459			—			74,459
	Long-term government-backed securities		—		17,982			—			17,982
	Liabilities
	Contingent consideration		—		—			6,365			6,365
		Level 1		Level 2			Level 3			Fair Value
		(in $000’s)
	At March 31, 2014:
	U.S. Treasury securities	$	—	$	31,487		$	—		$	31,487
	Short-term government-backed securities		—		24,176			—			24,176
	Long-term government-backed securities		—		41,761			—			41,761
Change in Fair Value of Contingent Consideration as Determined by Level 3 Inputs	The following table summarizes the change in fair value, as determined by Level 3 inputs, of the contingent consideration for the nine months ended December 31, 2014:
		December 31,
		2014
		(in $000’s)
	Beginning balance	$	—
	Additions		6,000
	Payments		—
	Change in fair value		365
	Ending balance	$	6,365
Quantitative Information about Inputs and Valuation Methodologies Used for Fair Value Measurements Classified in Level 3	The following table presents quantitative information about the inputs and valuation methodologies used for the Company’s fair value measurements classified in Level 3 as of December 31, 2014:
		Fair Value at				Significant	Weighted Average (range, if
		December 31, 2014				Unobservable Input	applicable)
		(in $000’s)
	Contingent consideration	$	6,365	Probability weighted income approach		Milestone dates	2018 to 2021
						Discount rate Probability of occurrence	8% to 12%
							0% to 100%

Inventories_Tables

Inventories (Tables)	9 Months Ended
	Dec. 31, 2014
Components of Inventories	The components of inventories are as follows:
		December 31,		March 31,
		2014		2014
		(in $000’s)
	Raw materials and supplies	$	6,722	$	6,414
	Work-in-progress		6,592		6,261
	Finished goods		2,130		1,273
		$	15,444	$	13,948

Goodwill_and_InProcess_Researc1

Goodwill and In-Process Research and Development (Tables)	9 Months Ended
	Dec. 31, 2014
Carrying Value of Goodwill	The carrying value of goodwill and the change in the balance for the nine months ended December 31, 2014 is as follows:
		December 31,
		2014
		(in $000’s)
	Beginning balance	$	37,990
	Additions		1,964
	Foreign currency translation impact		(4,627	)
	Ending balance	$	35,327
Carrying value of In-Process Research and Development	The carrying value of the Company’s IPR&D assets and the change in the balance for the nine months ended December 31, 2014 is as follows:
		December 31,
		2014
		(in $000’s)
	Beginning balance	$	—
	Additions		18,500
	Foreign currency translation impact		(2,020	)
	Ending balance	$	16,480

Accrued_Expenses_Tables

Accrued Expenses (Tables)	9 Months Ended
	Dec. 31, 2014
Accrued Expenses	Accrued expenses consist of the following:
		December 31,		March 31,
		2014		2014
		(in $000’s)
	Employee compensation	$	11,463	$	11,967
	Research and development		1,518		1,587
	Sales and income taxes		1,032		1,445
	Warranty		884		794
	Professional, legal and accounting fees		836		1,304
	Other		828		802
		$	16,561	$	17,899

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	9 Months Ended
	Dec. 31, 2014
Stock-Based Compensation Recognized	The following table summarizes stock-based compensation expense by financial statement line item in the Company’s consolidated statements of operations for the three and nine months ended December 31, 2014 and 2013:
		Three Months Ended						Nine Months Ended
		December 31,						December 31,
		2014			2013			2014			2013
		(in $000’s)						(in $000’s)
	Cost of product revenue	$	160		$	130		$	517		$	476
	Research and development		840			527			2,466			1,813
	Selling, general and administrative		3,382			991			9,713			6,078
		$	4,382		$	1,648		$	12,696		$	8,367
Components of Stock-Based Compensation	The components of stock-based compensation for the three and nine months ended December 31, 2014 and 2013 were as follows:
		Three Months Ended						Nine Months Ended
		December 31,						December 31,
		2014			2013			2014			2013
		(in $000’s)						(in $000’s)
	Restricted stock units and awards	$	3,640		$	1,020		$	10,394		$	6,118
	Stock options		666			571			2,089			2,094
	Employee stock purchase plan		76			57			213			155
		$	4,382		$	1,648		$	12,696		$	8,367
Summary of Stock Option Activity	The following table summarizes the stock option activity for the nine months ended December 31, 2014:
		Shares			Weighted			Weighted			Aggregate
		Underlying			Average			Average			Intrinsic
		Options			Exercise			Remaining			Value
		(in thousands)			Price			Contractual			(in thousands)
								Term (years)
	Outstanding at April 1, 2014		3,492		$	13.27			4.92
	Granted		319			22.57
	Exercised		(723	)		11.91
	Cancelled and expired		(11	)		18.34
	Outstanding at December 31, 2014		3,077		$	14.54			5.24		$	72,379
	Exercisable at December 31, 2014		2,307		$	11.96			4.13		$	60,232
	Options vested and expected to vest at December 31, 2014		3,009		$	14.35			5.16		$	71,331
Weighted-Average Assumptions Used to Calculate Fair Value of Options Granted	The fair value of options granted during the three and nine months ended December 31, 2014 and 2013 were calculated using the following weighted average assumptions:
		Three Months Ended						Nine Months Ended
		December 31,						December 31,
		2014			2013			2014			2013
	Risk-free interest rate		1.7	%		1.71	%		1.6	%		0.94	%
	Expected option life (years)		4.17			4.18			4.19			4.25
	Expected volatility		49.7	%		50.2	%		49.3	%		51.8	%
Summary of Restricted Stock and Restricted Stock Units Activity	The following table summarizes the activity for the nine months ended December 31, 2014:
		Number of			Weighted
		Shares			Average
					Grant Date
					Fair Value
		(in thousands)			(per share)
	Outstanding at April 1, 2014		1,174		$	21.37
	Granted		674			22.07
	Vested		(465	)		20.48
	Forfeited		(136	)		22.99
	Outstanding at December 31, 2014		1,247		$	21.9

Nature_of_Business_and_Basis_o2

Nature of Business and Basis of Preparation - Additional Information (Detail) (USD $)	0 Months Ended
	Jul. 01, 2014
Business And Basis Of Presentation [Line Items]
Payments to acquire businesses, cash paid	$15,750,000
ECP Entwicklungsgesellschaft mbH
Business And Basis Of Presentation [Line Items]
Payments to acquire businesses, cash paid	13,000,000
Potential payouts payments	$15,000,000

Computation_of_Basic_and_Dilut

Computation of Basic and Diluted Net Income Per Share (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Basic Net Income Per Share
Net income	$12,684	$4,393	$14,814	$3,729
Weighted average shares used in computing basic net income per share	40,856	39,592	40,456	39,179
Net income per share - basic	$0.31	$0.11	$0.37	$0.10
Diluted Net Income Per Share
Net income	$12,684	$4,393	$14,814	$3,729
Weighted average shares used in computing basic net income per share	40,856	39,592	40,456	39,179
Effect of dilutive securities	2,028	2,134	1,889	2,136
Weighted average shares used in computing diluted net income per share	42,884	41,726	42,345	41,315
Net income per share - diluted	$0.30	$0.11	$0.35	$0.09

Net_Income_Per_Share_Additiona

Net Income Per Share - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the calculation of diluted weighted average shares outstanding	1,000	3,000	36,000	252,000
Restricted Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the calculation of diluted weighted average shares outstanding	460,000	354,000	460,000	354,000

Acquisitions_Additional_Inform

Acquisitions - Additional Information (Detail) (USD $)	0 Months Ended	6 Months Ended	9 Months Ended
	Jul. 01, 2014	Dec. 31, 2014	Dec. 31, 2014	Jul. 01, 2014
Business Acquisition [Line Items]
Payments to acquire businesses, cash paid	$15,750,000
Expense for the change in fair value contingent consideration			365,000
Selling, general and administrative
Business Acquisition [Line Items]
Legal, consulting and other costs related to the acquisition included in consolidated statements of operations		1,100,000
ECP Entwicklungsgesellschaft mbH
Business Acquisition [Line Items]
Business acquisition, date of acquisition agreement			1-Jul-14
Payments to acquire businesses, cash paid	13,000,000
Potential payouts payments	15,000,000			15,000,000
Business combination, contingent consideration arrangements, descriptions			With respect to such milestone payments, the share purchase agreement provides: b" that, upon the earlier of (i) the Companybs receipt of European CE Marking approval relating to the sale of an expandable device based on certain patent rights acquired from ECP, or (ii) the Company bringing of a successful claim against a third party competitor (or reaching an economically equivalent settlement) for the infringement of certain patent rights acquired from ECP, it will pay Syscore an additional $7.0 million (provided that if such claim or settlement does not prohibit the third party competitorbs further marketing, production, sale, distribution, lease or use of any violating or infringing products, but only awards monetary damages to us or to Abiomed Europe, the amount payable to Syscore shall be limited to the lower of the amount of aggregate damages received and $7.0 million); and b" that, upon the first to occur of (i) the Companybs successful commercialization of one or more rotatable and expandable devices based on certain patent rights acquired from ECP, where such devices achieve aggregate worldwide revenues of $125.0 million, including the revenues of third party licensees, or (ii) the Companybs sale of (A) ECP, (B) all or substantially all of ECPbs assets, or (C) certain of ECPbs patent rights, the Company will pay to Syscore the lesser of (y) one-half of the profits earned from such sale described in the foregoing item (ii), after accounting for the costs of acquiring and operating ECP, or (z) $15.0 million (less any previous milestone payment).
Expense due to infringement of certain patent rights acquired	7,000,000			7,000,000
Aggregate worldwide revenues, including revenues of third party licensees, targeted to be met for milestone payments	125,000,000			125,000,000
Revenues		0
Net loss		2,300,000
Expense for the change in fair value contingent consideration		400,000
AIS GmbH Aachen Innovative Solutions
Business Acquisition [Line Items]
Business acquisition, date of acquisition agreement			30-Jun-14
Payments to acquire businesses, cash paid	$2,800,000

Fair_Value_of_the_Consideratio

Fair Value of the Consideration Transferred (Detail) (USD $)	0 Months Ended
In Thousands, unless otherwise specified	Jul. 01, 2014
Business Acquisition [Line Items]
Cash consideration	$15,750
Contingent consideration	6,000
Total consideration transferred	$21,750

Preliminary_Estimated_Fair_Val

Preliminary Estimated Fair Values of the Assets Acquired and Liabilities Assumed (Detail) (USD $)	Dec. 31, 2014	Mar. 31, 2014	Jul. 01, 2014
In Thousands, unless otherwise specified
Acquired assets:
Goodwill	$35,327	$37,990
Long-term deferred tax assets	778
ECP
Acquired assets:
Cash and cash equivalents			53
Accounts receivable			25
Property and equipment			619
In-process research and development			18,500
Goodwill			1,964
Long-term deferred tax assets			874
Other assets acquired			141
Total assets acquired			22,176
Liabilities assumed:
Accounts payable			295
Accrued liabilities			131
Total liabilities assumed			426
Net assets acquired			$21,750

Pro_Forma_Consolidated_Financi

Pro Forma Consolidated Financial Information (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Revenue	$62,005	$46,202	$162,766	$133,244
Income before income tax provision	13,665	3,910	16,409	2,096
Net income	$12,686	$3,652	$14,920	$1,057

Investable_Marketable_Securiti

Investable Marketable Securities (Detail) (USD $)	Dec. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
US Treasury Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Market Value	$19,487	$31,487
US Government-sponsored Enterprises Debt Securities | Short-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Market Value	74,459	24,176
US Government-sponsored Enterprises Debt Securities | Long-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Market Value	17,982	41,761
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	111,962	97,440
Gross Unrealized Gains	7	14
Gross Unrealized Losses	-41	-30
Fair Market Value	111,928	97,424
Level 2 | US Treasury Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	19,487	31,487
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Market Value	19,487	31,487
Level 2 | US Government-sponsored Enterprises Debt Securities | Short-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	74,478	24,174
Gross Unrealized Gains	5	6
Gross Unrealized Losses	-24	-4
Fair Market Value	74,459	24,176
Level 2 | US Government-sponsored Enterprises Debt Securities | Long-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	17,997	41,779
Gross Unrealized Gains	2	8
Gross Unrealized Losses	-17	-26
Fair Market Value	$17,982	$41,761

Financial_Instruments_Recorded

Financial Instruments Recorded at Fair Value (Detail) (USD $)	Dec. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	$6,365
US Treasury Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	19,487	31,487
US Government-sponsored Enterprises Debt Securities | Short-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	74,459	24,176
US Government-sponsored Enterprises Debt Securities | Long-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	17,982	41,761
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	111,928	97,424
Level 2 | US Treasury Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	19,487	31,487
Level 2 | US Government-sponsored Enterprises Debt Securities | Short-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	74,459	24,176
Level 2 | US Government-sponsored Enterprises Debt Securities | Long-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	17,982	41,761
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	$6,365

Change_in_Fair_Value_of_Contin

Change in Fair Value of Contingent Consideration as Determined by Level 3 Inputs (Detail) (Contingent Consideration, ECP Entwicklungsgesellschaft mbH, Level 3, USD $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Contingent Consideration | ECP Entwicklungsgesellschaft mbH | Level 3
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	$0
Additions	6,000
Payments	0
Change in fair value	365
Ending balance	$6,365

Marketable_Securities_and_Fair2

Marketable Securities and Fair Value Measurements - Additional Information (Detail) (USD $)	9 Months Ended
	Dec. 31, 2014	Mar. 31, 2014	31-May-13	Sep. 30, 2014	Nov. 30, 2014	Jan. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in fair value of the contingent consideration	$365,000
Aggregate carrying amount of other investment	2,051,000	801,000
Other Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Aggregate carrying amount of other investment	2,000,000	800,000
Equity Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost method investment, fair value			800,000
Equity Securities | Additional Investment commitment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost method investment, fair value			700,000
Equity Securities | Additional Investment payment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost method investment, fair value				700,000
Convertible Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost method investment, fair value					500,000
Promissory notes, interest rate					0.00%
Convertible Debt Securities | Subsequent Event
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost method investment, fair value						600,000
Promissory notes, interest rate						5.00%
Convertible Debt Securities | Subsequent Event | Additional Investment commitment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost method investment, fair value						$400,000

Quantitative_Information_about

Quantitative Information about Inputs and Valuation Methodologies Used for Fair Value Measurements Classified in Level 3 (Detail) (USD $)	1 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Jul. 31, 2014	Dec. 31, 2014
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Contingent consideration		6,365
Discount rate	22.50%
Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Contingent consideration		6,365
ECP Entwicklungsgesellschaft mbH
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Contingent consideration		6,365
ECP Entwicklungsgesellschaft mbH | Level 3 | Probability weighted income approach
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Contingent consideration		6,365
ECP Entwicklungsgesellschaft mbH | Level 3 | Probability weighted income approach | Contingent Consideration | Minimum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Milestone date		2018
Discount rate		8.00%
Probability of occurrence		0.00%
ECP Entwicklungsgesellschaft mbH | Level 3 | Probability weighted income approach | Contingent Consideration | Maximum
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Milestone date		2021
Discount rate		12.00%
Probability of occurrence		100.00%

Components_of_Inventories_Deta

Components of Inventories (Detail) (USD $)	Dec. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Inventory [Line Items]
Raw materials and supplies	$6,722	$6,414
Work-in-progress	6,592	6,261
Finished goods	2,130	1,273
Inventories	$15,444	$13,948

Inventories_Additional_Informa

Inventories - Additional Information (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Inventory [Line Items]
Write-down of inventory	$1,135	$641

Goodwill_Activity_Detail

Goodwill Activity (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Goodwill [Line Items]
Beginning balance	$37,990
Additions	1,964
Foreign currency translation impact	-4,627
Ending balance	$35,327

Goodwill_and_InProcess_Researc2

Goodwill and In-Process Research and Development - Additional Information (Detail) (USD $)	1 Months Ended
	Jul. 31, 2014	Dec. 31, 2014	Mar. 31, 2014
Goodwill and Intangible Assets Disclosure [Line Items]
Accumulated impairment loss, goodwill		$0
In-Process Research and Development	$18,500,000	$16,480,000	$0
Fair value inputs, discount rate	22.50%

InProcess_Research_and_Develop

In-Process Research and Development Activity (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Jul. 31, 2014
Indefinite-lived Intangible Assets [Line Items]
Beginning balance	$0	$18,500
Additions	18,500
Foreign currency translation impact	-2,020
Ending balance	$16,480	$18,500

Accrued_Expenses_Detail

Accrued Expenses (Detail) (USD $)	Dec. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Payables and Accruals [Abstract]
Employee compensation	$11,463	$11,967
Research and development	1,518	1,587
Sales and income taxes	1,032	1,445
Warranty	884	794
Professional, legal and accounting fees	836	1,304
Other	828	802
Accrued expenses	$16,561	$17,899

StockBased_Compensation_Recogn

Stock-Based Compensation Recognized (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	$4,382	$1,648	$12,696	$8,367
Cost of product revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	160	130	517	476
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	840	527	2,466	1,813
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	$3,382	$991	$9,713	$6,078

Components_of_StockBased_Compe

Components of Stock-Based Compensation (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	$4,382	$1,648	$12,696	$8,367
Restricted stock units and awards
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	3,640	1,020	10,394	6,118
Stock Options
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	666	571	2,089	2,094
Employee Stock Purchase Plan
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	$76	$57	$213	$155

Summary_of_Stock_Option_Activi

Summary of Stock Option Activity (Detail) (USD $)	9 Months Ended	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Mar. 31, 2014
Options
Outstanding at April 1, 2014	3,492
Granted	319
Exercised	-723
Cancelled and expired	-11
Outstanding at December 31, 2014	3,077	3,492
Exercisable at December 31, 2014	2,307
Options vested and expected to vest at end of year	3,009
Weighted-Average Exercise Price
Outstanding at April 1, 2014	$13.27
Granted	$22.57
Exercised	$11.91
Cancelled and expired	$18.34
Outstanding at December 31, 2014	$14.54	$13.27
Exercisable at December 31, 2014	$11.96
Options vested and expected to vest at December 31, 2014	$14.35
Weighted-Average Remaining Contractual Term (years)
Outstanding	5 years 2 months 27 days	4 years 11 months 1 day
Exercisable at December 31, 2014	4 years 1 month 17 days
Options vested and expected to vest at December 31, 2014	5 years 1 month 28 days
Aggregate Intrinsic Value
Outstanding at December 31, 2014	$72,379
Exercisable at December 31, 2014	60,232
Options vested and expected to vest at December 31, 2014	$71,331

StockBased_Compensation_Additi

Stock-Based Compensation - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended		1 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Jun. 30, 2011	31-May-11	31-May-14	31-May-13	31-May-12
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value of options exercised in period			$12,600,000
Fair value of options vested in period			2,400,000
Weighted average grant-date fair value for options granted			$9.18	$9.84
Expected dividend yield			0.00%
Stock-based compensation	4,382,000	1,648,000	12,696,000	8,367,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense	5,100,000		5,100,000
Unrecognized stock-based compensation expense, weighted-average recognition period			2 years 3 months 18 days
Stock-based compensation	666,000	571,000	2,089,000	2,094,000
Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense	13,900,000		13,900,000
Unrecognized stock-based compensation expense, weighted-average recognition period			1 year 10 months 24 days
Weighted average grant-date fair value for restricted stock and restricted stock units granted			$22.07	$23.18
Fair value of restricted stock and restricted stock units vested in period			9,500,000	6,000,000
Shares of award granted			674,000
Shares of award vested			465,000
Performance Based Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense	6,200,000		6,200,000
Unrecognized stock-based compensation expense, weighted-average recognition period	1 year 8 months 12 days
Shares of award granted					284,000	284,000
Shares of award granted, performance target met			234,000
Shares of award granted, it is probable that the prescribed performance targets will be met			50,000
Stock-based compensation	$2,400,000		$6,100,000
Performance Based Restricted Stock and Restricted Stock Units | Share Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of award granted							379,752	268,988	195,188
Shares of award vested			149,805

Weighted_Average_Assumptions_U

Weighted Average Assumptions Used to Calculate Fair Value of Options Granted (Detail)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Risk-free interest rate	1.70%	1.71%	1.60%	0.94%
Expected option life (years)	4 years 2 months 1 day	4 years 2 months 5 days	4 years 2 months 9 days	4 years 3 months
Expected volatility	49.70%	50.20%	49.30%	51.80%

Summary_of_Restricted_Stock_an

Summary of Restricted Stock and Restricted Stock Units Activity (Detail) (Restricted Stock and Restricted Stock Units, USD $)	9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Restricted Stock and Restricted Stock Units
Number of Shares
Beginning Balance	1,174,000
Granted	674,000
Vested	-465,000
Forfeited	-136,000
Ending Balance	1,247,000
Weighted Average Grant Date Fair Value
Beginning Balance	$21.37
Granted	$22.07	$23.18
Vested	$20.48
Forfeited	$22.99
Ending Balance	$21.90

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Mar. 31, 2014
Income Taxes [Line Items]
Long-term deferred tax liability	$7,089	$6,415
Amortization period of deferred tax liability (years)	15 years
Long-term deferred tax assets	$778

Commitments_and_Contingencies_

Commitments and Contingencies - Additional Information (Detail)

Dec. 31, 2014

Apr. 30, 2014

Dec. 31, 2014

Dec. 31, 2014

Dec. 31, 2014

Dec. 31, 2014

Jul. 01, 2014

Dec. 31, 2014

Jul. 01, 2014

Jul. 31, 2013

Dec. 31, 2014

Dec. 31, 2014

USD ($)

USD ($)

For March 2014 through April 2014

For May 2014 through February 2016

For March 2016 through February 2018

For March 2018 through February 2021

ECP Entwicklungsgesellschaft mbH

ECP Entwicklungsgesellschaft mbH

ECP Entwicklungsgesellschaft mbH

Europe

Europe

Europe

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

Lease Agreements

Lease Agreements

Lease Agreements

USD ($)

EUR (€)

Commitments and Contingencies [Line Items]

Facilities leases, base rent per month

$66,000

$74,050

$70,750

$72,750

$42,000

€ 34,500

Lease, expiration date

31-Jul-23

License agreement, upfront payment

1,500,000

License agreement, maximum agreed additional payments upon achievement of development milestones

4,500,000

Potential payouts payments

15,000,000

Period of milestone payment

20 years

Fair value of contingent consideration

$6,365,000

$6,365,000

Segment_and_Enterprise_Wide_Di1

Segment and Enterprise Wide Disclosures - Additional Information (Detail) (USD $)	9 Months Ended	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2013	Mar. 31, 2014
	Segment
Segment Reporting Information [Line Items]
Number of business segments	1
Goodwill	$35,327	35,327			$37,990
United States
Segment Reporting Information [Line Items]
Percentage of total consolidated assets	71.00%	71.00%			74.00%
Europe
Segment Reporting Information [Line Items]
Goodwill	$51,800	51,800			$35,400
Percentage of total consolidated assets, excluding goodwill	8.00%	8.00%			8.00%
International
Segment Reporting Information [Line Items]
Percentage of total product revenue	10.00%	9.00%	10.00%	8.00%