XML 46 R29.htm IDEA: XBRL DOCUMENT v3.23.1

Income Taxes (Tables)

12 Months Ended

Mar. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Net Deferred Tax Assets and Liabilities

Net deferred tax assets and liabilities consist of the following as of March 31, 2023 and 2022 (in thousands):

			2023						2022
Deferred tax asset
Property and equipment			$	724					$	700
Accrued expenses			209						998
Deferred revenue			6,131						502
Asset retirement obligations			13						12
Net operating loss carryforward			81,908						81,818
Operating lease liabilities			1,312						1,434
Charitable contributions carryforward			64						60
Stock compensation expense			6,744						4,408
Total deferred tax asset			97,105						89,932
Deferred tax liability
Right of use assets			(821)						(1,006)
Indefinite-lived intangible assets			(15,740)						(13,120)
Total deferred tax liability			(16,561)						(14,126)
Total deferred tax assets and liabilities			80,544						75,806
Valuation allowance			(85,984)						(79,998)
Net deferred tax assets and liabilities			$	(5,440)					$	(4,192)

Schedule of Components of Income Tax Expense

The components of the income tax expense for the years ended March 31, 2023, 2022 and 2021 are as follows (in thousands):

			2023						2022						2021
Current:
Federal			$	—					$	—					$	—
State			44						5						2
Total current*			44						5						2
Deferred:
Federal			442						370						251
State			776						608						(127)
Total deferred			1,218						978						124
Total income tax expense			$	1,262					$	983					$	126

* Fiscal 2021 current state tax expense was recorded as general and administrative expense.

Schedule of Effective Income Tax Rate Reconciliation

The differences between the United States federal statutory tax rate and the Company’s effective tax rate for the years ended March 31, 2023, 2022 and 2021 are as follows (in thousands):

			2023												2022												2021
Statutory federal tax			$	(3,162)					21		%				$	(7,672)					21		%				$	(11,405)					21		%
State income taxes, net of federal benefit			814						-23		%				612						-2		%				(125)						1		%
Incentive stock option expense			(27)						0		%				(564)						2		%				(720)						1		%
Other permanent differences			(62)						0		%				(4,017)						11		%				(251)						0		%
162M executive compensation limit			316						-2		%				1,673						-5		%				729						-1		%
Restricted stock shortfall/windfall			—						0		%				(617)						2		%				(136)						0		%
Change in valuation allowance - Federal			3,314						-22		%				11,408						-31		%				14,570						-27		%
Prior-year adjustments			69						0		%				160						-1		%				(2,536)						5		%
			$	1,262					-26		%				$	983					-3		%				$	126					0		%

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration