Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Jun. 30, 2019 | Aug. 01, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | AMERICAN SUPERCONDUCTOR CORP /DE/ | |
Entity Central Index Key | 0000880807 | |
Trading Symbol | amsc | |
Current Fiscal Year End Date | --03-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 21,566,610 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Title of 12(b) Security | Common Stock |
Unaudited Condensed Consolidate
Unaudited Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 |
Current assets: | ||
Cash and cash equivalents | $ 73,952 | $ 77,483 |
Accounts receivable, net | 10,736 | 7,855 |
Inventory | 11,924 | 12,119 |
Note receivable, current portion | 2,888 | |
Prepaid expenses and other current assets | 4,102 | 3,053 |
Total current assets | 100,714 | 103,398 |
Property, plant and equipment, net | 8,747 | 8,972 |
Intangibles, net | 2,805 | 2,890 |
Goodwill | 1,719 | 1,719 |
Restricted cash | 715 | 715 |
Right-of-use asset | 3,733 | 0 |
Deferred tax assets | 1,411 | 1,357 |
Other assets | 306 | 279 |
Total assets | 120,150 | 119,330 |
Current liabilities: | ||
Accounts payable and accrued expenses | 15,819 | 15,885 |
Lease liability, current portion | 416 | 0 |
Derivative liabilities | 1,702 | 4,942 |
Deferred revenue, current portion | 10,806 | 7,557 |
Total current liabilities | 28,743 | 28,384 |
Deferred revenue, long term portion | 7,883 | 7,962 |
Lease liability, long term portion | 3,357 | 0 |
Deferred tax liabilities | 1,703 | 1,698 |
Other liabilities | 51 | 93 |
Total liabilities | 41,737 | 38,137 |
Commitments and contingencies (Note 15) | ||
Stockholders' equity: | ||
Common stock | 218 | 216 |
Additional paid-in capital | 1,045,244 | 1,044,622 |
Treasury stock | (2,384) | (2,101) |
Accumulated other comprehensive (loss) income | 413 | (5) |
Accumulated deficit | (965,078) | (961,539) |
Total stockholders' equity | 78,413 | 81,193 |
Total liabilities and stockholders' equity | $ 120,150 | $ 119,330 |
Unaudited Condensed Consolida_2
Unaudited Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Revenues | $ 13,770 | $ 12,607 |
Cost of revenues | 12,193 | 8,714 |
Gross margin | 1,577 | 3,893 |
Operating expenses: | ||
Research and development | 2,473 | 2,840 |
Selling, general and administrative | 5,255 | 5,786 |
Amortization of acquisition-related intangibles | 85 | 85 |
Restructuring | 0 | 310 |
Total operating expenses | 7,813 | 9,021 |
Operating loss | (6,236) | (5,128) |
Change in fair value of warrants | 2,946 | (464) |
Interest income, net | 505 | 201 |
Other income (expense), net | (543) | 609 |
Loss before income tax expense | (3,328) | (4,782) |
Income tax expense (benefit) | 211 | (45) |
Net loss | $ (3,539) | $ (4,737) |
Net loss per common share | ||
Basic (in dollars per share) | $ (0.17) | $ (0.23) |
Diluted (in dollars per share) | $ (0.17) | $ (0.23) |
Weighted average number of common shares outstanding | ||
Basic (in shares) | 20,514 | 20,167 |
Diluted (in shares) | 20,514 | 20,167 |
Unaudited Condensed Consolida_3
Unaudited Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Net loss | $ (3,539) | $ (4,737) |
Other comprehensive gain (loss), net of tax: | ||
Foreign currency translation gain (loss) | 418 | (216) |
Total other comprehensive gain (loss), net of tax | 418 | (216) |
Comprehensive loss | $ (3,121) | $ (4,953) |
Unaudited Consolidated Statemen
Unaudited Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Mar. 31, 2018 | 21,139 | |||||
Balance at Mar. 31, 2018 | $ 211 | $ 1,041,113 | $ (1,645) | $ 883 | $ (988,333) | $ 52,229 |
Issuance of common stock - restricted shares (in shares) | 276 | |||||
Issuance of common stock - restricted shares | $ 3 | (3) | ||||
Stock-based compensation expense | 785 | 785 | ||||
Issuance of stock for 401(k) match (in shares) | 14 | |||||
Issuance of stock for 401(k) match | 85 | 85 | ||||
Repurchase of treasury stock | (239) | (239) | ||||
Cumulative translation adjustment | (216) | (216) | ||||
Net loss | (4,737) | (4,737) | ||||
Balance (in shares) at Jun. 30, 2018 | 21,429 | |||||
Balance at Jun. 30, 2018 | $ 214 | 1,041,980 | (1,884) | 667 | (993,037) | 47,940 |
Cumulative impact of adoption of ASU No. 2014-09 | 33 | 33 | ||||
Balance (in shares) at Mar. 31, 2019 | 21,652 | |||||
Balance at Mar. 31, 2019 | $ 216 | 1,044,622 | (2,101) | (5) | (961,539) | 81,193 |
Issuance of common stock - restricted shares (in shares) | 174 | |||||
Issuance of common stock - restricted shares | $ 2 | (2) | ||||
Stock-based compensation expense | 249 | 249 | ||||
Issuance of stock for 401(k) match (in shares) | 8 | |||||
Issuance of stock for 401(k) match | 81 | 81 | ||||
Repurchase of treasury stock | (283) | (283) | ||||
Cumulative translation adjustment | 418 | 418 | ||||
Net loss | (3,539) | (3,539) | ||||
Issuance of common stock - warrant exercise (in shares) | 23 | |||||
Issuance of common stock - warrant exercise | 294 | 294 | ||||
Balance (in shares) at Jun. 30, 2019 | 21,857 | |||||
Balance at Jun. 30, 2019 | $ 218 | $ 1,045,244 | $ (2,384) | $ 413 | $ (965,078) | $ 78,413 |
Unaudited Condensed Consolida_4
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Cash flows from operating activities: | ||
Net loss | $ (3,539) | $ (4,737) |
Adjustments to reconcile net loss to net cash used in operations: | ||
Depreciation and amortization | 1,149 | 1,150 |
Stock-based compensation expense | 249 | 785 |
Provision for excess and obsolete inventory | 89 | 144 |
Change in fair value of warrants | (2,946) | 464 |
Non-cash interest income | (112) | (56) |
Other non-cash items | 100 | (394) |
Changes in operating asset and liability accounts: | ||
Accounts receivable | (2,874) | (4,192) |
Inventory | 108 | (459) |
Prepaid expenses and other assets | (1,002) | (332) |
Accounts payable and accrued expenses | (181) | 75 |
Deferred revenue | 3,093 | 666 |
Net cash used in operating activities | (5,866) | (6,886) |
Cash flows from investing activities: | ||
Purchase of property, plant and equipment | (836) | (115) |
Proceeds from the sale of property, plant and equipment | 3,001 | |
Change in other assets | 94 | (51) |
Net cash provided by/(used in) investing activities | 2,259 | (166) |
Cash flows from financing activities: | ||
Employee taxes paid related to net settlement of equity awards | (283) | (238) |
Net cash used in financing activities | (283) | (238) |
Effect of exchange rate changes on cash | 359 | (44) |
Net decrease in cash, cash equivalents and restricted cash | (3,531) | (7,334) |
Cash, cash equivalents and restricted cash at beginning of period | 78,198 | 34,249 |
Cash, cash equivalents and restricted cash at end of period | 74,667 | 26,915 |
Supplemental schedule of cash flow information: | ||
Cash paid for income taxes, net of refunds | 128 | 176 |
Issuance of common stock to settle liabilities | 81 | 85 |
Hercules [Member] | ||
Supplemental schedule of cash flow information: | ||
Issuance of common stock to Hercules to settle warrant liability | $ 294 |
Note 1 - Nature of the Business
Note 1 - Nature of the Business and Operations and Liquidity | 3 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. Nature of the Business and Operations American Superconductor Corporation (together with its subsidiaries, “AMSC®”or the “Company”) was founded on April 9, 1987. These unaudited condensed consolidated financial statements of the Company have been prepared on a going concern basis in accordance with United States generally accepted accounting principles (“GAAP”) and the Securities and Exchange Commission’s (“SEC”) instructions to Form 10 not June 30, 2019 2018 June 30, 2019 not may March 31, 2019 10 March 31, 2019 June 5, 2019. Liquidity The Company has historically experienced recurring operating losses and as of June 30, 2019 965.1 June 30, 2019 74.0 no three June 30, 2019 5.9 On July 3, 2018, $57.5 two first $32.5 July 4, 2018, nine December 31, 2018, second $25.0 December 27, 2018. 2018 $52.7 On February 1, 2018, 64 64 $23.0 $17.0 $6.0 64 March 28, 2018, $16.9 1.96%. second second first $3.0 March 28, 2019 second $3.0 May 23, 2019. In December 2015, $210.0 three The Company believes that based on the information presented above and its quarterly management assessment, it has sufficient liquidity to fund its operations and capital expenditures for the next twelve three June 30, 2019 no |
Note 2 - Revenue Recognition
Note 2 - Revenue Recognition | 3 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 2. On April 1, 2018, 606, Revenue from Contracts with Customers, and all the related amendments and applied it to all contracts that were not April 1, 2018 The Company’s revenues in its Grid segment are derived primarily through enabling the transmission and distribution of power, providing planning services that allow it to identify power grid needs and risks, and developing ship protection systems for the U.S. Navy. The Company’s revenues in its Wind segment are derived primarily through supplying advanced power electronics and control systems, licensing its highly engineered wind turbine designs, and providing extensive customer support services to wind turbine manufacturers. The Company records revenue based on a five 606. June 30, 2019 78 In the Company's equipment and system product line, each contract with a customer summarizes each product sold to a customer, which typically represent distinct performance obligations. A contract's transaction price is allocated to each distinct performance obligation using the respective standalone selling price which is determined primarily using the cost plus expected margin approach and recognized as revenue when, or as, the performance obligation is satisfied. The majority of the Company’s product sales transfer control to the customer in line with the contracted delivery terms and revenue is recorded at the point in time when title and risk transfer to the customer, as the Company has determined that this is the point in time that control transfers to the customer. The Company's equipment and system product line includes contracts which do not not 606. not 606 three June 30, 2019 $0.4 no In the Company's service and technology development product line, there are several different types of transactions and each begins with a contract with a customer that summarizes each product sold to a customer, which typically represents distinct performance obligations. The technology development transactions are primarily for activities that have no not not not 606, no The Company's service contracts can include a purchase order from a customer for specific goods in which each item is a distinct performance obligation satisfied at a point in time at which control of the goods is transferred to the customer which occurs based on the contracted delivery terms or when the requested service work has been completed. The transaction price for these goods is allocated based on the adjusted market approach considering similar transactions under similar circumstances. Service contracts are also derived from ongoing maintenance contracts and extended service-type warranty contracts. In these transactions, the Company is contracted to provide an ongoing service over a specified period of time. As the customer is consuming the benefits as the service is being provided the revenue is recognized over time ratably. The Company’s policy is to not The Company provides assurance-type warranties on all product sales for a term of typically one two four The Company records revenue net of sales tax, value added tax, excise tax and other taxes collected concurrent with revenue-producing activities. The Company has elected to recognize the cost for freight and shipping when control over the products sold passes to customers and revenue is recognized. The Company has elected to recognize incremental costs of obtaining a contract as expense when incurred except in contracts where the amortization period would exceed twelve not twelve The Company’s contracts with customers do not may 30 60 The following tables disaggregate the Company’s revenue by product line and by shipment destination: Three Months Ended June 30, 2019 Product Line: Grid Wind Equipment and systems $ 8,354 $ 3,505 Services and technology development 1,501 410 Total $ 9,855 $ 3,915 Region: Americas $ 7,801 $ 46 Asia Pacific 1,827 3,856 EMEA 227 13 Total $ 9,855 $ 3,915 Three Months Ended June 30, 2018 Product Line: Grid Wind Equipment and systems $ 7,462 $ 3,492 Services and technology development 1,467 186 Total $ 8,929 $ 3,678 Region: Americas $ 7,496 $ 23 Asia Pacific 808 3,595 EMEA 625 60 Total $ 8,929 $ 3,678 As of June 30, 2019 June 30, 2018 7, 8, Unbilled Accounts Receivable Deferred Program Costs Contract Liabilities Beginning balance as of March 31, 2018 $ 3,016 $ 2,567 $ 21,937 Impact of adoption of ASC 606 — (1,599 ) (2,657 ) Increases for costs incurred to fulfill performance obligations — 1,132 — Increase (decrease) due to customer billings (3,221 ) — 4,281 Decrease due to cost recognition on completed performance obligations — (48 ) — Increase (decrease) due to recognition of revenue based on transfer of control of performance obligations 4,824 (9 ) (3,324 ) Other changes and FX impact (16 ) 34 (764 ) Ending balance as of June 30, 2018 $ 4,603 $ 2,077 $ 19,473 Unbilled Accounts Receivable Deferred Program Costs Contract Liabilities Beginning balance as of March 31, 2019 $ 2,213 $ 318 $ 15,521 Increases for costs incurred to fulfill performance obligations 0 771 0 Increase (decrease) due to customer billings (1,584 ) 0 10,857 Decrease due to cost recognition on completed performance obligations 0 (4 ) 0 Increase (decrease) due to recognition of revenue based on transfer of control of performance obligations 1,467 0 (7,761 ) Other changes and FX impact (3 ) 3 73 Ending balance as of June 30, 2019 $ 2,093 $ 1,088 $ 18,690 The Company’s remaining performance obligations represent the unrecognized revenue value of the Company’s contractual commitments. The Company’s performance obligations may June 30, 2019 606 twelve 54.7 9.8 thirteen sixty twelve twelve first three twelve twelve not not The following table sets forth customers who represented 10% three June 30, 2019 2018 Three Months Ended Reportable June 30, 2019 Segment 2019 2018 Inox Wind Limited Wind 27% 25% Vestas Grid <10% 36% Micron Technology Grid 25% <10% |
Note 3 - Stock-based Compensati
Note 3 - Stock-based Compensation | 3 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 3. The Company accounts for its stock-based compensation at fair value. The following table summarizes stock-based compensation expense by financial statement line item for the three June 30, 2019 2018 Three Months Ended June 30, 2019 2018 Cost of revenues $ 3 $ 40 Research and development 10 51 Selling, general and administrative 236 694 Total $ 249 $ 785 The Company issued 13,174 160,500 three June 30, 2019 34,480 276,000 three June 30, 2018 2 3 The estimated fair value of the Company’s stock-based awards, less expected annual forfeitures, is amortized over the awards’ service period. The total unrecognized compensation cost for unvested outstanding stock options was less than $ 0.1 June 30, 2019 1.9 3.4 June 30, 2019 1.5 The Company granted 5,939 three June 30, 2019 not three June 30, 2018 three June 30, 2019 2 three June 30, 2019 Three Months Ended June 30, 2019 2018 Expected volatility 66.5 % N/A Risk-free interest rate 1.8 % N/A Expected life (years) 5.91 N/A Dividend yield None N/A |
Note 4 - Computation of Net Los
Note 4 - Computation of Net Loss per Common Share | 3 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 4. Basic net loss per share (“EPS”) is computed by dividing net loss by the weighted-average number of common shares outstanding for the period. Where applicable, diluted EPS is computed by dividing the net loss by the weighted-average number of common shares and dilutive common equivalent shares outstanding during the period, calculated using the treasury stock method. Common equivalent shares include the effect of restricted stock, exercise of stock options and warrants and contingently issuable shares. Stock options and warrants that are out-of-the-money with exercise prices greater than the average market price of the underlying Common Shares and shares of performance based restricted stock where the contingency was not three June 30, 2019 1.0 not 0.2 0.8 three June 30, 2018 1.1 not 0.2 0.9 The following table reconciles the numerators and denominators of the earnings per share calculation for the three June 30, 2019 2018 Three Months Ended June 30, 2019 2018 Numerator: Net loss $ (3,539 ) $ (4,737 ) Denominator: Weighted-average shares of common stock outstanding 21,499 20,999 Weighted-average shares subject to repurchase (985 ) (832 ) Shares used in per-share calculation — basic 20,514 20,167 Shares used in per-share calculation — diluted 20,514 20,167 Net loss per share — basic $ (0.17 ) $ (0.23 ) Net loss per share — diluted $ (0.17 ) $ (0.23 ) |
Note 5 - Goodwill
Note 5 - Goodwill | 3 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Goodwill Disclosure [Text Block] | 5. The Company did not three June 30, 2019 |
Note 6 - Fair Value Measurement
Note 6 - Fair Value Measurements | 3 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 6. A valuation hierarchy for disclosure of the inputs to valuation used to measure fair value has been established. This hierarchy prioritizes the inputs into three Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 - Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not Level 3 - Unobservable inputs that reflect the Company’s assumptions that market participants would use in pricing the asset or liability. The Company develops these inputs based on the best information available, including its own data. The Company provides a gross presentation of activity within Level 3 1 2 1 2 3 not 1, 2 3 three June 30, 2019 A financial asset’s or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The following table provides the assets and liabilities carried at fair value on a recurring basis, measured as of June 30, 2019 March 31, 2019 Total Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs June 30, 2019: Assets: Cash equivalents $ 67,222 $ 67,222 $ — $ — Derivative liabilities: Warrants $ 1,702 $ — $ — $ 1,702 Total Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs March 31, 2019: Assets: Cash equivalents $ 41,839 $ 41,839 $ — $ — Derivative liabilities: Warrants $ 4,942 $ — $ — $ 4,942 The table below reflects the activity for the Company’s major classes of liabilities measured at fair value on a recurring basis (in thousands): Warrants April 1, 2019 $ 4,942 Mark to market adjustment (2,946 ) Warrant exercise (294 ) Balance at June 30, 2019 $ 1,702 Warrants April 1, 2018 $ 1,217 Mark to market adjustment 464 Balance at June 30, 2018 $ 1,681 Valuation Techniques Cash Equivalents Cash equivalents consist of highly liquid instruments with maturities of three 1 Warrants Warrants were issued in conjunction with an equity offering to Hudson Bay Capital in November 2014 April 8, 2019. The Company relies on various assumptions in a lattice model to determine the fair value of warrants. The Company has valued the warrants within Level 3 13, |
Note 7 - Accounts Receivable
Note 7 - Accounts Receivable | 3 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Accounts Receivable [Text Block] | 7. Accounts receivable at June 30, 2019 March 31, 2019 June 30, 2019 March 31, 2019 Accounts receivable (billed) $ 8,643 $ 5,642 Accounts receivable (unbilled) 2,093 2,213 Accounts receivable, net $ 10,736 $ 7,855 |
Note 8 - Inventory
Note 8 - Inventory | 3 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 8. Inventory, net of reserves, at June 30, 2019 March 31, 2019 June 30, 2019 March 31, 2019 Raw materials $ 6,604 $ 5,474 Work-in-process 1,039 1,922 Finished goods 3,193 4,405 Deferred program costs 1,088 318 Net inventory $ 11,924 $ 12,119 The Company recorded inventory write-downs of $ 0.1 $0.1 three June 30, 2019 2018 Deferred program costs as of June 30, 2019 March 31, 2019 |
Note 9 - Note Receivable
Note 9 - Note Receivable | 3 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Notes Receivable [Text Block] | 9. The Company entered into the PSA dated February 1, 2018, 64 64 64 $23.0 $1.0 $6.0 two $3.0 1.96% March 31, 2019 March 31, 2020. first March 28, 2019 second May 23, 2019. The note receivable was discounted to its present value of $5.7 6%, $0.3 $0.1 2017 05 Other Income - Gains and Losses from the Derecognition of Non-financial Assets (Subtopic 610 20 2014 09 Revenue from Contracts with Customers (Topic 606 three June 30, 2018. Note receivable as of June 30, 2019 March 31, 2019 Current assets June 30, 2019 March 31, 2019 Note receivable, current $ - $ 3,000 Note receivable discount — (112 ) Total current note receivable $ - $ 2,888 |
Note 10 - Property, Plant and E
Note 10 - Property, Plant and Equipment | 3 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 10. The cost and accumulated depreciation of property and equipment at June 30, 2019 March 31, 2019 June 30, 2019 March 31, 2019 Construction in progress - equipment $ 1,336 $ 603 Equipment and software 45,791 45,705 Furniture and fixtures 1,271 1,269 Leasehold improvements 1,983 1,955 Property, plant and equipment, gross 50,380 49,532 Less accumulated depreciation (41,633 ) (40,560 ) Property, plant and equipment, net $ 8,747 $ 8,972 Depreciation expense was $ 1.1 $1.1 three June 30, 2019 2018 |
Note 11 - Accounts Payable and
Note 11 - Accounts Payable and Accrued Expenses | 3 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 11. Accounts payable and accrued expenses at June 30, 2019 March 31, 2019 June 30, 2019 March 31, 2019 Accounts payable $ 4,088 $ 2,939 Accrued inventories in-transit 307 244 Accrued other miscellaneous expenses 1,794 1,759 Advanced deposits 745 631 Accrued compensation 3,678 5,404 Income taxes payable 3,601 3,363 Accrued warranty 1,606 1,545 Total $ 15,819 $ 15,885 The Company generally provides a one three Product warranty activity was as follows (in thousands): Three Months Ended June 30, 2019 2018 Balance at beginning of period $ 1,545 $ 1,769 Change in accruals for warranties during the period 85 104 Settlements during the period (24 ) (121 ) Balance at end of period $ 1,606 $ 1,752 |
Note 12 - Income Taxes
Note 12 - Income Taxes | 3 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 12. The Company recorded an income tax expense of $ 0.2 $0.1 three June 30, 2019 2018 Accounting for income taxes requires a two first not second 50% not not three June 30, 2019 not March 31, 2019 |
Note 13 - Warrants and Derivati
Note 13 - Warrants and Derivative Liabilities | 3 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 13. The Company accounts for its warrants and contingent consideration as liabilities due to certain adjustment provisions within the instruments, which require that they be recorded at fair value. The warrants are subject to revaluation at each balance sheet date and any change in fair value is recorded as a change in fair value of warrants until the earlier of its expiration or its exercise at which time the warrant liability will be reclassified to equity. The Company calculated the fair value of the warrants utilizing an integrated lattice model. See Note 6, Hercules Warrants On December 19, 2014, second 58,823 $7.85 May 2017, September 2017 January 2017. $0.4 March 31, 2019. April 8, 2019 22,821 April 17, 2019. $0.1 three June 30, 2019. November 2014 On November 13, 2014, 909,090 one 0.9 one 818,181 “November 2014 November 2014 $7.81 November 13, 2019. Following is a summary of the key assumptions used to calculate the fair value of the November 2014 Fiscal Year 2019 June 30, 2019 Risk-free interest rate 2.11% Expected annual dividend yield — Expected volatility 60.58% Term (years) 0.37 Fair value $1.7 million March 31, December 31, September 30, June 30, March 31, Fiscal Year 2018 2019 2018 2018 2018 2018 Risk-free interest rate 2.43% 2.61% 2.62% 2.40% 2.20% Expected annual dividend yield — — — — — Expected volatility 75.61% 70.29% 63.66% 67.40% 65.86% Term (years) 0.62 0.87 1.12 1.37 1.62 Fair value $4.6 million $3.6 million $1.3 million $1.6 million $1.1 million The Company recorded a net gain of $ 2.9 decrease November 2014 three June 30, 2019 $0.5 November 2014 three June 30, 2018 |
Note 14 - Leases
Note 14 - Leases | 3 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 14. On April 1, 2019, 2016 02, Leases (Topic 842 842" not not not As a result of the adoption of ASC 842, $3.8 $3.8 no 842. No March 31, 2019 ASC 842 Adjustment April 1, 2019 Operating Leases: Right of use asset $ - $ 3,795 $ 3,795 Total operating lease right-of-use asset 0 3,795 3,795 Operating lease liabilities – ST $ - $ 309 $ 309 Operating lease liabilities – LT 0 3,512 3,512 Total operating lease liabilities 0 3,821 3,821 Weighted-average remaining lease term 7.69 years Weighted-average discount rate 7.06 % All significant lease arrangements are recognized at lease commencement. Operating lease right–of-use assets and lease liabilities are recognized at commencement. The operating lease right-of-use asset includes any lease payments related to initial direct cost and prepayments and excludes any lease incentives. Lease expense is recognized on a straight-line basis over the lease term. The Company enters into a variety of operating lease agreements through the normal course of its business, but primarily real estate leases to support its operations. The agreements generally provide for fixed minimum rental payments and the payment of real estate taxes and insurance. Many of these leases have one five The Company also enters into leases for vehicles, IT equipment and service agreements, and other leases related to its manufacturing operations that are also included in the right-of-use asset and lease liability accounts if they are for a term of longer than twelve The discount rate was calculated using an incremental borrowing rate based on an assessment prepared by the Company through the use of Company credit ratings, consideration of its lease populations potential risk to its total capital structure, and a market rate for a collateralized loan for its risk profile, calculated by a third The Company did not Supplemental balance sheet information related to leases at June 30, 2019 June 30, 2019 Operating Leases: Right-of-use assets $ 3,733 Total right-of-use assets 3,733 Lease liabilities - ST $ 416 Lease liabilities - LT 3,357 Total operating lease liabilities 3,773 Weighted-average remaining lease term 7.55 years Weighted-average discount rate 7.06 % The costs related to the Company's leases for the three June 30, 2019 June 30, 2019 Operating Lease: Operating lease costs - fixed $ 178 Operating lease costs - variable 21 Short-term lease costs 233 Total lease costs 432 The Company’s estimated minimum future lease obligations under the Company's leases are as follows: Operating Leases Year ended March 31, 2020 $ 496 2021 673 2022 653 2023 627 2024 564 Thereafter 1,896 Total minimum lease payments 4,909 Less: interest (1,136 ) Present value of lease liabilities 3,773 |
Note 15 - Commitments and Conti
Note 15 - Commitments and Contingencies | 3 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 15. Legal Contingencies From time to time, the Company is involved in legal and administrative proceedings and claims of various types. The Company records a liability in its 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 a liability and the amounts of loss can be reasonably estimated, the Company estimates and discloses the possible loss or range of loss to the extent necessary to make the consolidated financial statements not not not Other The Company enters into long-term construction contracts with customers that require the Company to obtain performance bonds. The Company is required to deposit an amount equivalent to some or all the face amount of the performance bonds into an escrow account until the termination of the bond. When the performance conditions are met, amounts deposited as collateral for the performance bonds are returned to the Company. In addition, the Company has various contractual arrangements in which minimum quantities of goods or services have been committed to be purchased on an annual basis. As of June 30, 2019 0.7 $5.0 $5.0 July 1, 2019. |
Note 16 - Restructuring
Note 16 - Restructuring | 3 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | 16. The Company accounts for charges resulting from operational restructuring actions in accordance with ASC Topic 420, Exit or Disposal Cost Obligations 420” 712, Compensation—Nonretirement Postemployment Benefits 712” The $0.3 three June 30, 2018 The following table presents restructuring charges and cash payments for the three June 30, 2018 Severance pay Facility exit and and benefits Relocation costs Total Accrued restructuring balance at April 1, 2018 $ 262 $ 173 $ 435 Charges to operations 0 310 310 Cash payments (97 ) (483 ) (580 ) Accrued restructuring balance at June 30, 2018 $ 165 $ — $ 165 All restructuring charges discussed above are included within restructuring in the Company’s unaudited condensed consolidated statements of operations. The Company includes accrued restructuring within accounts payable and accrued expenses. There was no three June 30, 2019 June 30, 2019. |
Note 17 - Business Segments
Note 17 - Business Segments | 3 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 17. The Company reports its financial results in two Through the Company’s power grid offerings, the Grid business segment enables electric utilities, industrial facilities, and renewable energy project developers to connect, transmit and distribute power through our transmission planning services, power electronics, and superconductor-based systems. The sales process is enabled by transmission planning services that allow it to identify power grid congestion, poor power quality and other risks, which helps the Company determine how its solutions can improve network performance. These services often lead to sales of grid interconnection solutions for wind farms and solar power plants, power quality systems, and transmission and distribution cable systems. The Company also sells ship protection products to the U.S. Navy through its Grid business segment. Through the Company’s wind power offerings, the Wind business segment enables manufacturers to field highly competitive wind turbines through our advanced power electronics and control system products, engineered designs, and support services. The Company supplies advanced power electronics and control systems, licenses its highly engineered wind turbine designs, and provides extensive customer support services to wind turbine manufacturers. The Company’s design portfolio includes a broad range of drive trains and power ratings of 2 The operating results for the two Three Months Ended June 30, 2019 2018 Revenues: Grid $ 9,855 $ 8,929 Wind 3,915 3,678 Total $ 13,770 $ 12,607 Three Months Ended June 30, 2019 2018 Operating loss: Grid $ (4,663 ) $ (2,666 ) Wind (1,324 ) (1,367 ) Unallocated corporate expenses (249 ) (1,095 ) Total $ (6,236 ) $ (5,128 ) The accounting policies of the business segments are the same as those for the consolidated Company. The Company’s business segments have been determined in accordance with the Company’s internal management structure, which is organized based on operating activities. The Company evaluates performance based upon several factors, of which the primary financial measures are segment revenues and segment operating loss. The disaggregated financial results of the segments reflect allocation of certain functional expense categories consistent with the basis and manner in which Company management internally disaggregates financial information for the purpose of assisting in making internal operating decisions. In addition, certain corporate expenses which the Company does not two Unallocated corporate expenses primarily consist of stock-based compensation expense of $ 0.2 $0.8 three June 30, 2019 2018 $0.3 three June 30, 2018 Total assets for the two June 30, 2019 March 31, 2019 June 30, 2019 March 31, 2019 Grid $ 32,169 $ 31,075 Wind 11,416 8,167 Corporate assets 76,565 80,088 Total $ 120,150 $ 119,330 |
Note 18 - Recent Accounting Pro
Note 18 - Recent Accounting Pronouncements | 3 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | 18. In February 2016, 2016 02, Leases (Topic 842 840, Leases 12 December 15, 2018, • In July 2018, 2018 10, Codification improvements to Topic 842, 2018 10 2016 02. • In July 2018, 2018 11, Topic 842, 2018 11 not ASU 2016 02 April 1, 2019, 14 In June 2016, 2016 13, Financial Instruments-Credit Losses (Topic 326 2016 13 December 15, 2019, 2016 13 may In July 2017, 2017 11, Earnings per Share (Topic 260 Distinguishing Liabilities from Equity (Topic 480 815 2017 11 no December 15, 2018, April 1, 2019, 2017 11 no 480. In August 2017, 2017 12, Derivatives and Hedging (Topic 815 2017 12 December 15, 2018, April 1, 2019, 2017 12 no no In June 2018, 2018 08, Not 958 2018 08 1 958, Not 2 December 15, 2018, April 1, 2019, 2018 08 In August 2018, 2018 13, Fair Value Measurement (Topic 820 2018 13 December 15, 2019, 2018 13 may |
Note 19 - Subsequent Events
Note 19 - Subsequent Events | 3 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 19. The Company has performed an evaluation of subsequent events through the time of filing this Quarterly Report on Form 10 no |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Nature of Business and Operations, Policy [Policy Text Block] | Nature of the Business and Operations American Superconductor Corporation (together with its subsidiaries, “AMSC®”or the “Company”) was founded on April 9, 1987. These unaudited condensed consolidated financial statements of the Company have been prepared on a going concern basis in accordance with United States generally accepted accounting principles (“GAAP”) and the Securities and Exchange Commission’s (“SEC”) instructions to Form 10 not June 30, 2019 2018 June 30, 2019 not may March 31, 2019 10 March 31, 2019 June 5, 2019. |
Liquidity, Policy [Policy Text Block] | Liquidity The Company has historically experienced recurring operating losses and as of June 30, 2019 965.1 June 30, 2019 74.0 no three June 30, 2019 5.9 On July 3, 2018, $57.5 two first $32.5 July 4, 2018, nine December 31, 2018, second $25.0 December 27, 2018. 2018 $52.7 On February 1, 2018, 64 64 $23.0 $17.0 $6.0 64 March 28, 2018, $16.9 1.96%. second second first $3.0 March 28, 2019 second $3.0 May 23, 2019. In December 2015, $210.0 three The Company believes that based on the information presented above and its quarterly management assessment, it has sufficient liquidity to fund its operations and capital expenditures for the next twelve three June 30, 2019 no |
Note 2 - Revenue Recognition (T
Note 2 - Revenue Recognition (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended June 30, 2019 Product Line: Grid Wind Equipment and systems $ 8,354 $ 3,505 Services and technology development 1,501 410 Total $ 9,855 $ 3,915 Region: Americas $ 7,801 $ 46 Asia Pacific 1,827 3,856 EMEA 227 13 Total $ 9,855 $ 3,915 Three Months Ended June 30, 2018 Product Line: Grid Wind Equipment and systems $ 7,462 $ 3,492 Services and technology development 1,467 186 Total $ 8,929 $ 3,678 Region: Americas $ 7,496 $ 23 Asia Pacific 808 3,595 EMEA 625 60 Total $ 8,929 $ 3,678 |
Contract with Customer, Asset and Liability [Table Text Block] | Unbilled Accounts Receivable Deferred Program Costs Contract Liabilities Beginning balance as of March 31, 2018 $ 3,016 $ 2,567 $ 21,937 Impact of adoption of ASC 606 — (1,599 ) (2,657 ) Increases for costs incurred to fulfill performance obligations — 1,132 — Increase (decrease) due to customer billings (3,221 ) — 4,281 Decrease due to cost recognition on completed performance obligations — (48 ) — Increase (decrease) due to recognition of revenue based on transfer of control of performance obligations 4,824 (9 ) (3,324 ) Other changes and FX impact (16 ) 34 (764 ) Ending balance as of June 30, 2018 $ 4,603 $ 2,077 $ 19,473 Unbilled Accounts Receivable Deferred Program Costs Contract Liabilities Beginning balance as of March 31, 2019 $ 2,213 $ 318 $ 15,521 Increases for costs incurred to fulfill performance obligations 0 771 0 Increase (decrease) due to customer billings (1,584 ) 0 10,857 Decrease due to cost recognition on completed performance obligations 0 (4 ) 0 Increase (decrease) due to recognition of revenue based on transfer of control of performance obligations 1,467 0 (7,761 ) Other changes and FX impact (3 ) 3 73 Ending balance as of June 30, 2019 $ 2,093 $ 1,088 $ 18,690 |
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block] | Three Months Ended Reportable June 30, 2019 Segment 2019 2018 Inox Wind Limited Wind 27% 25% Vestas Grid <10% 36% Micron Technology Grid 25% <10% |
Note 3 - Stock-based Compensa_2
Note 3 - Stock-based Compensation (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended June 30, 2019 2018 Cost of revenues $ 3 $ 40 Research and development 10 51 Selling, general and administrative 236 694 Total $ 249 $ 785 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Three Months Ended June 30, 2019 2018 Expected volatility 66.5 % N/A Risk-free interest rate 1.8 % N/A Expected life (years) 5.91 N/A Dividend yield None N/A |
Note 4 - Computation of Net L_2
Note 4 - Computation of Net Loss per Common Share (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended June 30, 2019 2018 Numerator: Net loss $ (3,539 ) $ (4,737 ) Denominator: Weighted-average shares of common stock outstanding 21,499 20,999 Weighted-average shares subject to repurchase (985 ) (832 ) Shares used in per-share calculation — basic 20,514 20,167 Shares used in per-share calculation — diluted 20,514 20,167 Net loss per share — basic $ (0.17 ) $ (0.23 ) Net loss per share — diluted $ (0.17 ) $ (0.23 ) |
Note 6 - Fair Value Measureme_2
Note 6 - Fair Value Measurements (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Total Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs June 30, 2019: Assets: Cash equivalents $ 67,222 $ 67,222 $ — $ — Derivative liabilities: Warrants $ 1,702 $ — $ — $ 1,702 Total Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs March 31, 2019: Assets: Cash equivalents $ 41,839 $ 41,839 $ — $ — Derivative liabilities: Warrants $ 4,942 $ — $ — $ 4,942 |
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block] | Warrants April 1, 2019 $ 4,942 Mark to market adjustment (2,946 ) Warrant exercise (294 ) Balance at June 30, 2019 $ 1,702 Warrants April 1, 2018 $ 1,217 Mark to market adjustment 464 Balance at June 30, 2018 $ 1,681 |
Note 7 - Accounts Receivable (T
Note 7 - Accounts Receivable (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Accounts Receivable [Table Text Block] | June 30, 2019 March 31, 2019 Accounts receivable (billed) $ 8,643 $ 5,642 Accounts receivable (unbilled) 2,093 2,213 Accounts receivable, net $ 10,736 $ 7,855 |
Note 8 - Inventory (Tables)
Note 8 - Inventory (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | June 30, 2019 March 31, 2019 Raw materials $ 6,604 $ 5,474 Work-in-process 1,039 1,922 Finished goods 3,193 4,405 Deferred program costs 1,088 318 Net inventory $ 11,924 $ 12,119 |
Note 9 - Note Receivable (Table
Note 9 - Note Receivable (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Notes Receivable [Table Text Block] | Current assets June 30, 2019 March 31, 2019 Note receivable, current $ - $ 3,000 Note receivable discount — (112 ) Total current note receivable $ - $ 2,888 |
Note 10 - Property, Plant and_2
Note 10 - Property, Plant and Equipment (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | June 30, 2019 March 31, 2019 Construction in progress - equipment $ 1,336 $ 603 Equipment and software 45,791 45,705 Furniture and fixtures 1,271 1,269 Leasehold improvements 1,983 1,955 Property, plant and equipment, gross 50,380 49,532 Less accumulated depreciation (41,633 ) (40,560 ) Property, plant and equipment, net $ 8,747 $ 8,972 |
Note 11 - Accounts Payable an_2
Note 11 - Accounts Payable and Accrued Expenses (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | June 30, 2019 March 31, 2019 Accounts payable $ 4,088 $ 2,939 Accrued inventories in-transit 307 244 Accrued other miscellaneous expenses 1,794 1,759 Advanced deposits 745 631 Accrued compensation 3,678 5,404 Income taxes payable 3,601 3,363 Accrued warranty 1,606 1,545 Total $ 15,819 $ 15,885 |
Schedule of Product Warranty Liability [Table Text Block] | Three Months Ended June 30, 2019 2018 Balance at beginning of period $ 1,545 $ 1,769 Change in accruals for warranties during the period 85 104 Settlements during the period (24 ) (121 ) Balance at end of period $ 1,606 $ 1,752 |
Note 13 - Warrants and Deriva_2
Note 13 - Warrants and Derivative Liabilities (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Fair Value Option, Disclosures [Table Text Block] | Fiscal Year 2019 June 30, 2019 Risk-free interest rate 2.11% Expected annual dividend yield — Expected volatility 60.58% Term (years) 0.37 Fair value $1.7 million March 31, December 31, September 30, June 30, March 31, Fiscal Year 2018 2019 2018 2018 2018 2018 Risk-free interest rate 2.43% 2.61% 2.62% 2.40% 2.20% Expected annual dividend yield — — — — — Expected volatility 75.61% 70.29% 63.66% 67.40% 65.86% Term (years) 0.62 0.87 1.12 1.37 1.62 Fair value $4.6 million $3.6 million $1.3 million $1.6 million $1.1 million |
Note 14 - Leases (Tables)
Note 14 - Leases (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Assets And Liabilities Lessee [Table Text Block] | June 30, 2019 Operating Leases: Right-of-use assets $ 3,733 Total right-of-use assets 3,733 Lease liabilities - ST $ 416 Lease liabilities - LT 3,357 Total operating lease liabilities 3,773 Weighted-average remaining lease term 7.55 years Weighted-average discount rate 7.06 % |
Lease, Cost [Table Text Block] | June 30, 2019 Operating Lease: Operating lease costs - fixed $ 178 Operating lease costs - variable 21 Short-term lease costs 233 Total lease costs 432 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Operating Leases Year ended March 31, 2020 $ 496 2021 673 2022 653 2023 627 2024 564 Thereafter 1,896 Total minimum lease payments 4,909 Less: interest (1,136 ) Present value of lease liabilities 3,773 |
Accounting Standards Update 2016-02 [Member] | |
Notes Tables | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | March 31, 2019 ASC 842 Adjustment April 1, 2019 Operating Leases: Right of use asset $ - $ 3,795 $ 3,795 Total operating lease right-of-use asset 0 3,795 3,795 Operating lease liabilities – ST $ - $ 309 $ 309 Operating lease liabilities – LT 0 3,512 3,512 Total operating lease liabilities 0 3,821 3,821 Weighted-average remaining lease term 7.69 years Weighted-average discount rate 7.06 % |
Note 16 - Restructuring (Tables
Note 16 - Restructuring (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Restructuring and Related Costs [Table Text Block] | Severance pay Facility exit and and benefits Relocation costs Total Accrued restructuring balance at April 1, 2018 $ 262 $ 173 $ 435 Charges to operations 0 310 310 Cash payments (97 ) (483 ) (580 ) Accrued restructuring balance at June 30, 2018 $ 165 $ — $ 165 |
Note 17 - Business Segments (Ta
Note 17 - Business Segments (Tables) | 3 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended June 30, 2019 2018 Revenues: Grid $ 9,855 $ 8,929 Wind 3,915 3,678 Total $ 13,770 $ 12,607 Three Months Ended June 30, 2019 2018 Operating loss: Grid $ (4,663 ) $ (2,666 ) Wind (1,324 ) (1,367 ) Unallocated corporate expenses (249 ) (1,095 ) Total $ (6,236 ) $ (5,128 ) |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | June 30, 2019 March 31, 2019 Grid $ 32,169 $ 31,075 Wind 11,416 8,167 Corporate assets 76,565 80,088 Total $ 120,150 $ 119,330 |
Note 1 - Nature of the Busine_2
Note 1 - Nature of the Business and Operations and Liquidity (Details Textual) $ in Thousands, ¥ in Millions | May 23, 2019USD ($) | Mar. 28, 2019USD ($) | Jul. 04, 2018USD ($) | Jul. 03, 2018CNY (¥) | Feb. 01, 2018USD ($) | Dec. 31, 2015USD ($) | Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2019USD ($) | Dec. 27, 2018USD ($) | Mar. 28, 2018USD ($) |
Retained Earnings (Accumulated Deficit), Ending Balance | $ (965,078) | $ (961,539) | |||||||||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 73,952 | 77,483 | |||||||||
Net Cash Provided by (Used in) Operating Activities, Total | $ (5,866) | $ (6,886) | |||||||||
Sinovel [Member] | |||||||||||
Litigation Settlement, Amount Awarded from Other Party | ¥ | ¥ 57.5 | ||||||||||
Litigation Settlement, Number of Installments | 2 | ||||||||||
Proceeds from Legal Settlements | $ 32,500 | ||||||||||
Litigation Receivable | $ 25,000 | ||||||||||
Gain (Loss) Related to Litigation Settlement, Total | $ 52,700 | ||||||||||
64 Jackson, LLC [Member] | |||||||||||
Purchase and Sale Agreement, Total Consideration | $ 23,000 | ||||||||||
Purchase and Sale Agreement, Proceeds from Sale of Property, Plant and Equipment | 17,000 | ||||||||||
Financing Receivable, after Allowance for Credit Loss, Noncurrent, Total | $ 6,000 | ||||||||||
Purchase and Sale Agreement, Proceeds from Sale of Property, Plant and Equipment, Net | $ 16,900 | ||||||||||
Notes Receivable, Stated Interest Rate | 1.96% | 1.96% | |||||||||
Proceeds from Collection of Notes Receivable | $ 3,000 | $ 3,000 | |||||||||
Inox Wind Limited [Member] | |||||||||||
Supply Agreement, Aggregate Value | $ 210,000 | ||||||||||
Supply Commitment, Extension Period | 3 years |
Note 2 - Revenue Recognition 1
Note 2 - Revenue Recognition 1 (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Revenue, Performance Obligation Satisfied, Revenue Recognized, Percentage | 78.00% | |
Minimum [Member] | ||
Warranty Period | 1 year | |
Contract with Customer, Payment Term | 30 days | |
Maximum [Member] | ||
Warranty Period | 2 years | |
Extended Service Warranty, Term | 4 years | |
Contract with Customer, Payment Term | 60 days | |
Grant [Member] | ||
Revenues, Total | $ 400 | $ 0 |
Note 2 - Revenue Recognition 2
Note 2 - Revenue Recognition 2 (Details Textual) $ in Thousands | Jun. 30, 2019USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-07-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 1 year |
Revenue, Remaining Performance Obligation, Amount | $ 54,700 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01 | |
Revenue, Remaining Performance Obligation, Amount | $ 9,800 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01 | Minimum [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 1 year 30 days |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01 | Maximum [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 5 years |
Note 2 - Revenue Recognition -
Note 2 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Revenues | $ 13,770 | $ 12,607 |
Grid [Member] | ||
Revenues | 9,855 | 8,929 |
Grid [Member] | Americas [Member] | ||
Revenues | 7,801 | 7,496 |
Grid [Member] | Asia Pacific [Member] | ||
Revenues | 1,827 | 808 |
Grid [Member] | EMEA [Member] | ||
Revenues | 227 | 625 |
Wind [Member] | ||
Revenues | 3,915 | 3,678 |
Wind [Member] | Americas [Member] | ||
Revenues | 46 | 23 |
Wind [Member] | Asia Pacific [Member] | ||
Revenues | 3,856 | 3,595 |
Wind [Member] | EMEA [Member] | ||
Revenues | 13 | 60 |
Equipment and Systems [Member] | Grid [Member] | ||
Revenues | 8,354 | 7,462 |
Equipment and Systems [Member] | Wind [Member] | ||
Revenues | 3,505 | 3,492 |
Services and Technology Development [Member] | Grid [Member] | ||
Revenues | 1,501 | 1,467 |
Services and Technology Development [Member] | Wind [Member] | ||
Revenues | $ 410 | $ 186 |
Note 2 - Revenue Recognition _2
Note 2 - Revenue Recognition - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Unbilled AR, beginning balance | $ 2,213 | $ 3,016 |
Unbilled AR, impact of adoption of ASC 606 | 0 | |
Unbilled AR, increase (decrease) due to customer billings | (1,584) | (3,221) |
Unbilled AR, increase (decrease) due to recognition of revenue based on transfer of control of performance obligations | 1,467 | 4,824 |
Unbilled AR, other changes and FX impact | (3) | (16) |
Unbilled AR,Decrease due to cost recognition on completed performance obligations | 0 | |
Unbilled AR, ending balance | 2,093 | 4,603 |
Deferred Program Costs, beginning balance | 318 | 2,567 |
Deferred Program Costs, impact of adoption of ASC 606 | (1,599) | |
Deferred Program Costs, increases for costs incurred to fulfill performance obligations | 771 | 1,132 |
Deferred Program Costs, decrease due to cost recognition on completed performance obligations | (4) | (48) |
Deferred Program Costs, increase (decrease) due to recognition of revenue based on transfer of control of performance obligations | 0 | (9) |
Deferred Program Costs, other changes and FX impact | 3 | 34 |
Deferred Program Costs, ending balance | 1,088 | 2,077 |
Contract Liabilities, beginning balance | 15,521 | 21,937 |
Contract Liabilities, impact of adoption of ASC 606 | (2,657) | |
Increase (decrease) due to customer billings | 10,857 | 4,281 |
Increase (decrease) due to recognition of revenue based on transfer of control of performance obligations | (7,761) | (3,324) |
Other changes and FX impact | 73 | (764) |
Contract Liabilities, ending balance | $ 18,690 | $ 19,473 |
Note 2 - Revenue Recognition _3
Note 2 - Revenue Recognition - Revenues By Major Customers (Details) - Customer Concentration Risk [Member] - Revenue Benchmark [Member] | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Wind [Member] | Inox Wind Limited [Member] | ||
Concentration risk percentage | 27.00% | 25.00% |
Grid [Member] | Vestas WTG Mexico [Member] | ||
Concentration risk percentage | 0.00% | 36.00% |
Grid [Member] | Micron Technology [Member] | ||
Concentration risk percentage | 25.00% | 0.00% |
Note 3 - Stock-based Compensa_3
Note 3 - Stock-based Compensation (Details Textual) - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total | 13,174 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 5,939 | 0 |
Restricted Stock [Member] | ||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total | 160,500 | 34,480 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 276,000 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 3.4 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 1 year 182 days | |
Restricted Stock [Member] | Minimum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | |
Restricted Stock [Member] | Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |
Share-based Payment Arrangement, Option [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 0.1 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 1 year 328 days |
Note 3 - Stock-based Compensa_4
Note 3 - Stock-based Compensation - Stock-based Compensation Expense By Financial Statement Line Item (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Total stock-based compensation expense | $ 249 | $ 785 |
Cost of Sales [Member] | ||
Total stock-based compensation expense | 3 | 40 |
Research and Development Expense [Member] | ||
Total stock-based compensation expense | 10 | 51 |
Selling, General and Administrative Expenses [Member] | ||
Total stock-based compensation expense | $ 236 | $ 694 |
Note 3 - Stock-based Compensa_5
Note 3 - Stock-based Compensation - Black Scholes Valuation (Details) | 3 Months Ended |
Jun. 30, 2019 | |
Expected volatility | 66.50% |
Risk-free interest rate | 1.80% |
Expected life (years) (Year) | 5 years 332 days |
Dividend yield |
Note 4 - Computation of Net L_3
Note 4 - Computation of Net Loss per Common Share (Details Textual) - shares shares in Millions | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1 | 1.1 |
Share-based Payment Arrangement, Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0.2 | 0.2 |
Warrant [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0.8 | 0.9 |
Note 4 - Computation of Net L_4
Note 4 - Computation of Net Loss per Common Share - Reconciliation of Numerators and Denominators of EPS Calculation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Numerator: | ||
Net loss | $ (3,539) | $ (4,737) |
Denominator: | ||
Weighted-average shares of common stock outstanding (in shares) | 21,499 | 20,999 |
Weighted-average shares subject to repurchase (in shares) | (985) | (832) |
Shares used in per-share calculation - basic (in shares) | 20,514 | 20,167 |
Shares used in per-share calculation - diluted (in shares) | 20,514 | 20,167 |
Net loss per share — basic (in dollars per share) | $ (0.17) | $ (0.23) |
Net loss per share — diluted (in dollars per share) | $ (0.17) | $ (0.23) |
Note 5 - Goodwill (Details Text
Note 5 - Goodwill (Details Textual) $ in Thousands | 3 Months Ended |
Jun. 30, 2019USD ($) | |
Goodwill, Impairment Loss | $ 0 |
Note 6 - Fair Value Measureme_3
Note 6 - Fair Value Measurements - Assets and Liabilities Carried at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 | Mar. 31, 2018 |
Derivative liabilities | $ 1,702 | $ 4,942 | |
Reported Value Measurement [Member] | Fair Value, Recurring [Member] | |||
Cash equivalents | 67,222 | $ 41,839 | |
Reported Value Measurement [Member] | Fair Value, Recurring [Member] | Warrant [Member] | |||
Derivative liabilities | 1,702 | 4,942 | |
Reported Value Measurement [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Cash equivalents | 67,222 | 41,839 | |
Derivative liabilities | 0 | 0 | |
Reported Value Measurement [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Cash equivalents | 0 | 0 | |
Derivative liabilities | 0 | 0 | |
Reported Value Measurement [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Cash equivalents | 0 | 0 | |
Derivative liabilities | $ 1,702 | $ 4,942 |
Note 6 - Fair Value Measureme_4
Note 6 - Fair Value Measurements - Liabilities Measured at Fair Value on a Recurring Basis (Details) - Warrant Liability [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Beginning balance | $ 4,942 | $ 1,217 |
Mark to market adjustment | (2,946) | 464 |
Warrant exercise | (294) | |
Ending balance | $ 1,702 | $ 1,681 |
Note 7 - Accounts Receivable -
Note 7 - Accounts Receivable - Summary of Accounts Receivable (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 |
Accounts receivable (billed) | $ 8,643 | $ 5,642 |
Accounts receivable (unbilled) | 2,093 | 2,213 |
Accounts receivable, net | $ 10,736 | $ 7,855 |
Note 8 - Inventory (Details Tex
Note 8 - Inventory (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Inventory Write-down | $ 89 | $ 144 |
Note 8 - Inventory - Summary of
Note 8 - Inventory - Summary of Net Inventory (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 |
Raw materials | $ 6,604 | $ 5,474 |
Work-in-process | 1,039 | 1,922 |
Finished goods | 3,193 | 4,405 |
Deferred program costs | 1,088 | 318 |
Net inventory | $ 11,924 | $ 12,119 |
Note 9 - Note Receivable (Detai
Note 9 - Note Receivable (Details Textual) - 64 Jackson, LLC [Member] $ in Millions | Feb. 01, 2018USD ($) | Jun. 30, 2019USD ($) | Mar. 31, 2019USD ($) | Mar. 28, 2018 |
Purchase and Sale Agreement, Total Consideration | $ 23 | |||
Security Deposit | 1 | |||
Financing Receivable, after Allowance for Credit Loss, Noncurrent, Total | $ 6 | |||
Notes and Loans Receivable, Number of Installments | 2 | |||
Notes and Loans Receivable, Installment Amount | $ 3 | |||
Notes Receivable, Stated Interest Rate | 1.96% | 1.96% | ||
Notes Receivable, Fair Value Disclosure | $ 5.7 | |||
Note Receivable Discount Rate | 6.00% | |||
Notes and Loans Receivable, Noncurrent Portion of Unamortized Debt Discount | $ 0.3 | |||
Deferred Gain on Sale of Property | $ 0.1 |
Note 9 - Note Receivable - Summ
Note 9 - Note Receivable - Summary of Note Receivable (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 |
Note receivable, current | $ 3,000 | |
Note receivable discount | (112) | |
Total current note receivable | $ 2,888 |
Note 10 - Property, Plant and_3
Note 10 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Depreciation, Depletion and Amortization, Total | $ 1.1 | $ 1.1 |
Note 10 - Property, Plant and_4
Note 10 - Property, Plant and Equipment - Cost and Accumulated Depreciation of Property and Equipment (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 |
Property, plant and equipment, gross | $ 50,380 | $ 49,532 |
Less accumulated depreciation | (41,633) | (40,560) |
Property, plant and equipment, net | 8,747 | 8,972 |
Construction in Progress [Member] | ||
Property, plant and equipment, gross | 1,336 | 603 |
Equipment and Software [Member] | ||
Property, plant and equipment, gross | 45,791 | 45,705 |
Furniture and Fixtures [Member] | ||
Property, plant and equipment, gross | 1,271 | 1,269 |
Leasehold Improvements [Member] | ||
Property, plant and equipment, gross | $ 1,983 | $ 1,955 |
Note 11 - Accounts Payable an_3
Note 11 - Accounts Payable and Accrued Expenses (Details Textual) | 3 Months Ended |
Jun. 30, 2019 | |
Minimum [Member] | |
Extended Warranty Trigger Period | 1 year |
Maximum [Member] | |
Extended Warranty Trigger Period | 3 years |
Note 11 - Accounts Payable an_4
Note 11 - Accounts Payable and Accrued Expenses - Summary of Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 |
Accounts payable | $ 4,088 | $ 2,939 |
Accrued inventories in-transit | 307 | 244 |
Accrued other miscellaneous expenses | 1,794 | 1,759 |
Advanced deposits | 745 | 631 |
Accrued compensation | 3,678 | 5,404 |
Income taxes payable | 3,601 | 3,363 |
Accrued warranty | 1,606 | 1,545 |
Total | $ 15,819 | $ 15,885 |
Note 11 - Accounts Payable an_5
Note 11 - Accounts Payable and Accrued Expenses - Product Warranty Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Balance at beginning of period | $ 1,545 | $ 1,769 |
Change in accruals for warranties during the period | 85 | 104 |
Settlements during the period | (24) | (121) |
Balance at end of period | $ 1,606 | $ 1,752 |
Note 12 - Income Taxes (Details
Note 12 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Mar. 31, 2019 | |
Income Tax Expense (Benefit), Total | $ 211 | $ (45) | |
Liability for Uncertainty in Income Taxes, Current | $ 0 | ||
Unrecognized Tax Benefits, Ending Balance | $ 0 |
Note 13 - Warrants and Deriva_3
Note 13 - Warrants and Derivative Liabilities (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Apr. 17, 2019 | Dec. 19, 2014 | Nov. 13, 2014 | Jun. 30, 2019 | Jun. 30, 2018 | Mar. 31, 2019 |
Gain (Loss) in Change of Fair Value of Derivative Instruments and Warrants | $ 2,946 | $ (464) | ||||
Hercules Warrants [Member] | ||||||
Gain (Loss) on Decrease Fair Value Upon Exercise of Warrant | $ 100 | |||||
November 2014 Warrant [Member] | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 7.81 | |||||
Common Unit, Issued | 909,090 | |||||
Common Shares Per Unit | 1 | |||||
Class of Warrant or Right, Number of Warrants to Purchase One Share of Stock | 0.9 | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 818,181 | |||||
Investment Warrants Expiration Date | Nov. 13, 2019 | |||||
Hercules Technology Growth Capital [Member] | ||||||
Stock Issued During Period, Shares, Warrant Exercised | 22,821 | |||||
Secured Debt [Member] | Hercules Technology Growth Capital [Member] | Hercules Warrants [Member] | ||||||
Purchase Commitment, Issuance of Warrants, Shares of Common Stock | 58,823 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 7.85 | |||||
Derivative, Fair Value, Net, Total | $ 400 |
Note 13 - Warrants and Deriva_4
Note 13 - Warrants and Derivative Liabilities - Summary of the Key Assumptions Used to Calculate Fair Value of Warrants (Details) $ in Millions | Jun. 30, 2019USD ($) | Mar. 31, 2019USD ($)yr | Dec. 31, 2018USD ($)yr | Sep. 30, 2018USD ($)yr | Jun. 30, 2018USD ($)yr | Mar. 31, 2018USD ($)yr |
Fair value | $ 1.7 | $ 4.6 | $ 3.6 | $ 1.3 | $ 1.6 | $ 1.1 |
Measurement Input, Risk Free Interest Rate [Member] | ||||||
Warrants and Rights Outstanding, Measurement Input | 0.0211 | 0.0243 | 0.0261 | 0.0262 | 0.024 | 0.022 |
Measurement Input, Expected Dividend Rate [Member] | ||||||
Warrants and Rights Outstanding, Measurement Input | ||||||
Measurement Input, Price Volatility [Member] | ||||||
Warrants and Rights Outstanding, Measurement Input | 0.6058 | 0.7561 | 0.7029 | 0.6366 | 0.674 | 0.6586 |
Measurement Input, Expected Term [Member] | ||||||
Warrants and Rights Outstanding, Measurement Input | 0.37 | 0.62 | 0.87 | 1.12 | 1.37 | 1.62 |
Note 14 - Leases (Details Textu
Note 14 - Leases (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2019 | Apr. 01, 2019 | Mar. 31, 2019 |
Operating Lease, Right-of-Use Asset | $ 3,733 | $ 3,795 | $ 0 |
Operating Lease, Liability, Total | $ 3,773 | 3,821 | |
Maximum [Member] | |||
Lessee, Operating Lease, Renewal Term | 5 years | ||
Accounting Standards Update 2016-02 [Member] | |||
Operating Lease, Right-of-Use Asset | 3,800 | 3,795 | |
Operating Lease, Liability, Total | $ 3,800 | $ 3,821 |
Note 14 - Leases - Adoption of
Note 14 - Leases - Adoption of ASC 842 (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Apr. 01, 2019 | Mar. 31, 2019 |
Right-of-use asset | $ 3,733 | $ 3,795 | $ 0 |
Lease liability, current portion | 416 | 309 | 0 |
Lease liability, long term portion | 3,357 | 3,512 | 0 |
Total operating lease liabilities | $ 3,773 | $ 3,821 | |
Weighted-average remaining lease term (Year) | 7 years 200 days | 7 years 251 days | |
Weighted-average discount rate | 7.06% | 7.06% | |
Accounting Standards Update 2016-02 [Member] | |||
Right-of-use asset | $ 3,800 | 3,795 | |
Lease liability, current portion | 309 | ||
Lease liability, long term portion | 3,512 | ||
Total operating lease liabilities | $ 3,800 | 3,821 | |
Previous Accounting Guidance [Member] | |||
Right-of-use asset | |||
Lease liability, current portion | |||
Lease liability, long term portion | 0 | ||
Total operating lease liabilities | $ 0 |
Note 14 - Leases - Operating Le
Note 14 - Leases - Operating Lease Assets and Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Apr. 01, 2019 | Mar. 31, 2019 |
Right-of-use asset | $ 3,733 | $ 3,795 | $ 0 |
Lease liability, current portion | 416 | 309 | 0 |
Lease liability, long term portion | 3,357 | 3,512 | $ 0 |
Total operating lease liabilities | $ 3,773 | $ 3,821 | |
Weighted-average remaining lease term (Year) | 7 years 200 days | 7 years 251 days | |
Weighted-average discount rate | 7.06% | 7.06% |
Note 14 - Leases - Lease Cost (
Note 14 - Leases - Lease Cost (Details) $ in Thousands | 3 Months Ended |
Jun. 30, 2019USD ($) | |
Operating lease costs - fixed | $ 178 |
Operating lease costs - variable | 21 |
Short-term lease costs | 233 |
Total lease costs | $ 432 |
Note 14 - Leases - Minimum Futu
Note 14 - Leases - Minimum Future Lease Obligation (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Apr. 01, 2019 |
2020 | $ 496 | |
2021 | 673 | |
2022 | 653 | |
2023 | 627 | |
2024 | 564 | |
Thereafter | 1,896 | |
Total minimum lease payments | 4,909 | |
Less: interest | (1,136) | |
Total operating lease liabilities | $ 3,773 | $ 3,821 |
Note 15 - Commitments and Con_2
Note 15 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | Jul. 01, 2019 | Jun. 30, 2019 | Mar. 31, 2019 |
Restricted Cash and Cash Equivalents, Noncurrent, Total | $ 715 | $ 715 | |
Subsequent Event [Member] | Letter of Credit [Member] | |||
Escrow Deposit | $ 5,000 |
Note 16 - Restructuring (Detail
Note 16 - Restructuring (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Restructuring Charges, Total | $ 0 | $ 310 |
Note 16 - Restructuring - Restr
Note 16 - Restructuring - Restructuring Charges and Cash Payments (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Accrued restructuring balance, beginning | $ 435 | |
Restructuring Charges, Total | $ 0 | 310 |
Cash payments | (580) | |
Accrued restructuring balance, ending | 165 | |
Employee Severance Pay and Benefits [Member] | ||
Accrued restructuring balance, beginning | 262 | |
Restructuring Charges, Total | 0 | |
Cash payments | (97) | |
Accrued restructuring balance, ending | 165 | |
Facility Exit and Relocation Costs [Member] | ||
Accrued restructuring balance, beginning | 173 | |
Restructuring Charges, Total | 310 | |
Cash payments | (483) | |
Accrued restructuring balance, ending |
Note 17 - Business Segments (De
Note 17 - Business Segments (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2019USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2019MWh | |
Number of Reportable Segments | 2 | ||
Share-based Payment Arrangement, Expense | $ 249 | $ 785 | |
Restructuring Charges, Total | 0 | 310 | |
Corporate, Non-Segment [Member] | |||
Share-based Payment Arrangement, Expense | $ 200 | 800 | |
Restructuring Charges, Total | $ 300 | ||
Minimum [Member] | |||
Power of Wind Turbines | MWh | 2 |
Note 17 - Business Segments - O
Note 17 - Business Segments - Operating Results for Business Segments (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Revenues | $ 13,770 | $ 12,607 |
Operating profit (loss) | (6,236) | (5,128) |
Corporate, Non-Segment [Member] | ||
Operating profit (loss) | (249) | (1,095) |
Grid [Member] | ||
Revenues | 9,855 | 8,929 |
Grid [Member] | Operating Segments [Member] | ||
Operating profit (loss) | (4,663) | (2,666) |
Wind [Member] | ||
Revenues | 3,915 | 3,678 |
Wind [Member] | Operating Segments [Member] | ||
Operating profit (loss) | $ (1,324) | $ (1,367) |
Note 17 - Business Segments - T
Note 17 - Business Segments - Total Business Segments Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 |
Total assets | $ 120,150 | $ 119,330 |
Operating Segments [Member] | Grid [Member] | ||
Total assets | 32,169 | 31,075 |
Operating Segments [Member] | Wind [Member] | ||
Total assets | 11,416 | 8,167 |
Corporate, Non-Segment [Member] | ||
Total assets | $ 76,565 | $ 80,088 |