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Business Combinations (Tables) | 12 Months Ended
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Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract] |
Purchase Consideration Allocation | The purchase consideration allocation was as follows (in thousands):
Assets acquired: |
Cash and cash equivalents | $ | 1,972 |
Accounts receivable | 4,075 |
Other assets | 1,503 |
Customer relationships | 10,280 |
Total assets acquired | $ | 17,830 |
Liabilities assumed: |
Accounts payable and accrued liabilities | $ | 2,030 |
Net assets acquired, excluding goodwill | 15,800 |
Goodwill | $ | 18,915 |
Total purchase consideration | $ | 34,715 |
The purchase consideration allocation was as follows (in thousands):
Assets acquired: |
Accounts receivable | $ | 447 |  |  |
Customer relationships | 27,200 |  |  |
Developed technology | 820 |  |  |
Trademark | 700 |  |  |
Total assets acquired | $ | 29,167 |  |  |
Liabilities assumed: |  |  |
Deferred revenue | $ | 2,925 |  |  |
Other liabilities | 633 |  |  |
Net assets acquired, excluding goodwill | 25,609 |  |  |
Goodwill | $ | 49,025 |  |  |
Total purchase consideration | $ | 74,634 |  |  |
Intangible Assets, Net | Intangible assets, net consisted of the following (in thousands):
| As of March 31,
| 2023 |  | 2022
Customer relationships | $ | 37,069 |  |  | $ | 9,869 |
Other intangibles | 1,531 |  |  | 11 |
Total intangible assets | 38,600 |  |  | 9,880 |
Less: accumulated amortization | (6,764) |  |  | (1,971) |
Total intangible assets, net | $ | 31,836 |  |  | $ | 7,909 |
Future Amortization Expense | As of March 31, 2023, future amortization expense is as follows (in thousands):
Fiscal Years Ending March 31, | Amount
2024 | $ | 4,519 |
2025 | 4,245 |
2026 | 4,012 |
2027 | 4,010 |
2028 | 4,010 |
Thereafter | 11,040 |
Total future amortization expense | $ | 31,836 |

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- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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