Leases	9 Months Ended
Dec. 31, 2021
Leases [Abstract]
Leases	5. Leases Substantially all of the leases in which the Company is the lessee are comprised of corporate office space and tower space. The Company is obligated under certain lease agreements for office space with lease terms expiring on various dates from October 31, 2023 through June 30, 2027, which includes a 10-year lease extension for its corporate headquarters. The Company entered into multiple lease agreements for tower space. The lease expiration dates range from January 29, 2022 to April 30, 2028. Substantially all of the Company’s leases are classified as operating leases and are required to be recognized on the Consolidated Balance Sheet as right of use (“ROU”) assets and corresponding lease liabilities. ROU assets include any prepaid lease payments and exclude any lease incentives and initial direct costs incurred. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Each lease term may include an optional extension, or reduction in term by termination, if the Company is reasonably certain that it will exercise that option. Weighted-average remaining lease term and discount rate for the Company’s operating leases are as follows: Nine months ended December 31, 2021 2020Weighted average term - operating lease liabilities 3.78 years 4.51 yearsWeighted average incremental borrowing rate - operating lease liabilities 13% 13% Rent expense amounted to approximately $0.5 million and $1.5 million, respectively, for the three and nine months ended December 31, 2021, and are included in general and administrative expenses in the Consolidated Statements of Operations. Rent expense amounted to approximately $0.7 million for the three months ended December 31, 2020, of which approximately $0.4 million was included in direct cost of revenue and the remainder of approximately $0.3 million was included in general and administrative expenses in the Consolidated Statements of Operations. Rent expense amounted to approximately $2.0 million for the nine months ended December 31, 2020, of which approximately $1.2 million was included in direct cost of revenue and the remainder of approximately $0.8 million was included in general and administrative expenses in the Consolidated Statements of Operations. In June 2020, the Company terminated an operating tower space lease early resulting in a non-cash reduction in ROU assets by $19,000, reduction in operating lease liabilities by $20,000 and gain in disposal of long-lived asset by $1,000. ‎ The following table presents net lease cost for the three and nine months ended December 31, 2021 and 2020 (in thousands): Three months ended December 31, Nine months ended December 31, 2021 2020 2021 2020Lease cost Operating lease cost (cost resulting from lease payments) $ 485 $ 619 $ 1,493 $ 1,890Short term lease cost 3 50 13 93Sublease income — — — (6)Net lease cost $ 488 $ 669 $ 1,506 $ 1,977 The following table presents supplemental cash flow and non-cash activity information for the nine months ended December 31, 2021 and 2020 (in thousands): Nine months ended December 31, 2021 2020Operating cash flow information: Operating lease - operating cash flows (fixed payments) $ 1,719 $ 2,096Operating lease - operating cash flows (liability reduction) $ 1,087 $ 1,289Non-cash activity: Right of use assets obtained in exchange for new operating lease liabilities $ 78 $ 77 The following table presents supplemental balance sheet information as of December 31, 2021 and March 31, 2021 (in thousands): December 31, 2021 March 31, 2021Non-current assets - right of use assets, net $ 4,256 $ 5,100Current liabilities - operating lease liabilities $ 1,450 $ 1,470Non-current liabilities - operating lease liabilities $ 4,534 $ 5,601 Future minimum payments under non-cancelable leases for office and tower spaces (exclusive of real estate tax, utilities, maintenance and other costs borne by the Company), for the remaining terms of the leases following the nine months ended December 31, 2021, are as follows (in thousands): Operating Fiscal Year Leases2022 (excluding the nine months ended December 31, 2021) $ 5412023 2,1062024 1,9552025 1,5542026 866After 2026 596Total future minimum lease payments 7,618Amount representing interest (1,634)Present value of net future minimum lease payments $ 5,984

Leases

9 Months Ended

Dec. 31, 2021

5. Leases Substantially all of the leases in which the Company is the lessee are comprised of corporate office space and tower space. The Company is obligated under certain lease agreements for office space with lease terms expiring on various dates from October 31, 2023 through June 30, 2027, which includes a 10-year lease extension for its corporate headquarters. The Company entered into multiple lease agreements for tower space. The lease expiration dates range from January 29, 2022 to April 30, 2028. Substantially all of the Company’s leases are classified as operating leases and are required to be recognized on the Consolidated Balance Sheet as right of use (“ROU”) assets and corresponding lease liabilities. ROU assets include any prepaid lease payments and exclude any lease incentives and initial direct costs incurred. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Each lease term may include an optional extension, or reduction in term by termination, if the Company is reasonably certain that it will exercise that option. Weighted-average remaining lease term and discount rate for the Company’s operating leases are as follows: Nine months ended December 31, 2021 2020Weighted average term - operating lease liabilities 3.78 years 4.51 yearsWeighted average incremental borrowing rate - operating lease liabilities 13% 13% Rent expense amounted to approximately $0.5 million and $1.5 million, respectively, for the three and nine months ended December 31, 2021, and are included in general and administrative expenses in the Consolidated Statements of Operations. Rent expense amounted to approximately $0.7 million for the three months ended December 31, 2020, of which approximately $0.4 million was included in direct cost of revenue and the remainder of approximately $0.3 million was included in general and administrative expenses in the Consolidated Statements of Operations. Rent expense amounted to approximately $2.0 million for the nine months ended December 31, 2020, of which approximately $1.2 million was included in direct cost of revenue and the remainder of approximately $0.8 million was included in general and administrative expenses in the Consolidated Statements of Operations. In June 2020, the Company terminated an operating tower space lease early resulting in a non-cash reduction in ROU assets by $19,000, reduction in operating lease liabilities by $20,000 and gain in disposal of long-lived asset by $1,000. ‎ The following table presents net lease cost for the three and nine months ended December 31, 2021 and 2020 (in thousands): Three months ended December 31, Nine months ended December 31, 2021 2020 2021 2020Lease cost Operating lease cost (cost resulting from lease payments) $ 485 $ 619 $ 1,493 $ 1,890Short term lease cost 3 50 13 93Sublease income — — — (6)Net lease cost $ 488 $ 669 $ 1,506 $ 1,977 The following table presents supplemental cash flow and non-cash activity information for the nine months ended December 31, 2021 and 2020 (in thousands): Nine months ended December 31, 2021 2020Operating cash flow information: Operating lease - operating cash flows (fixed payments) $ 1,719 $ 2,096Operating lease - operating cash flows (liability reduction) $ 1,087 $ 1,289Non-cash activity: Right of use assets obtained in exchange for new operating lease liabilities $ 78 $ 77 The following table presents supplemental balance sheet information as of December 31, 2021 and March 31, 2021 (in thousands): December 31, 2021 March 31, 2021Non-current assets - right of use assets, net $ 4,256 $ 5,100Current liabilities - operating lease liabilities $ 1,450 $ 1,470Non-current liabilities - operating lease liabilities $ 4,534 $ 5,601 Future minimum payments under non-cancelable leases for office and tower spaces (exclusive of real estate tax, utilities, maintenance and other costs borne by the Company), for the remaining terms of the leases following the nine months ended December 31, 2021, are as follows (in thousands): Operating Fiscal Year Leases2022 (excluding the nine months ended December 31, 2021) $ 5412023 2,1062024 1,9552025 1,5542026 866After 2026 596Total future minimum lease payments 7,618Amount representing interest (1,634)Present value of net future minimum lease payments $ 5,984