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Nature of Operations and Basis of Presentation (Tables) | 9 Months Ended
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Dec. 31, 2021
Nature of Operation and Basis of Presentation [Abstract] |
Summary of Errors Corrections | The following table is a comparison of the reported results of operations for the three and nine months ended December 31, 2020, as a result of the correction of immaterial errors (in thousands): For the Three months ended December 31, 2020 As Originally Reported Impact of Prior Period Errors As RevisedConsolidated Statement of Operations General and administrative* $6,344 $2,462 $8,806Product development 1,098 146 1,244Sales and support 612 64 676Stock compensation expense 2,672 (2,672) — For the Nine months ended December 31, 2020 As Originally Reported Impact of Prior Period Errors As Revised General and administrative* $17,685 $12,641 $30,326Product development 2,595 438 3,033Sales and support 1,904 166 2,070Stock compensation expense 13,245 (13,245) — * General and administrative expense includes the reclassification of restructuring costs. Refer to Reclassifications below for further details. Depreciation, disposals and impairments In connection with preparing its financial statements for the quarter ended December 31, 2021, the Company determined that it understated depreciation and overstated loss on disposal of long-lived assets in its Consolidated Statement of Operations for the nine months ended December 31, 2021. In March 2021, the Company classified idled assets as Held for Future Use and suspended the depreciation for these assets. The depreciation should have been recognized evenly over the life of the asset without regard to whether the assets have been placed in service or is in use. Additionally, the Company reported disposals of assets that were in-use and misclassified certain disposals as impairments in the Consolidated Statement of Operations for the nine months ended December 31, 2021. The following table is a comparison of the results of operations for the nine months ended December 31, 2021, as a result of the correction of immaterial errors (in thousands): For the Nine months ended December 31, 2021 Impact of Prior Period ErrorsConsolidated Statement of Operations Depreciation and amortization $ 138Impairment of long-lived assets (127)Loss/(gain) from disposal of long-lived assets 35Net loss 46Net loss per common share basic and diluted — Share retirement In connection with preparing its financial statements for the quarter ended December 31, 2021, the Company determined that it incorrectly presented additional paid-in capital and accumulated deficit in its Consolidated Balance Sheets and Consolidated Statement of Stockholders’ Equity for the period ended June 30, 2021. The Company previously reported the retirement of shares from a May 2021 option exercise as a reduction to additional paid-in capital. The retirement of shares should have been reported as an increase to accumulated deficit. This transaction was presented in the stock option exercises line within the Consolidated Statement of Stockholders’ Equity. However, the Company should have reported this transaction in a separate line, retirement of common stock, along with the retirement of shares from the Company’s share repurchase program (refer to Note 7 Stockholders’ Equity for further discussion on the Company’s share repurchase program). Additionally, as a result of this error, the Company incorrectly omitted the shares surrendered from stock option exercises non-cash disclosure. The following table is a comparison of the reported financial position, changes to stockholders’ equity and cash flows as of December 31, 2021, as a result of the correction of immaterial errors (in thousands): For the period ended December 31, 2021 Impact of Prior Period ErrorsConsolidated Balance Sheets Additional paid-in capital $ 1,000Accumulated deficit (1,000) For the period ended December 31, 2021 Impact of Prior Period Errors Number of Shares Common Stock Additional paid-in capital Accumulated deficitConsolidated Statement of Stockholders’ Equity Stock option exercises 20 $ 1,000 $ —Retirement of common stock (20) — (1,000)

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- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794 + Details
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