XML 83 R36.htm IDEA: XBRL DOCUMENT
v3.25.2

Income Taxes (Tables) | 12 Months Ended
--- | ---
Mar. 31, 2025
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, 2025 and 2024 (in thousands):
| 2025 |  | 2024
Deferred tax asset |  |  |
Property and equipment | $ | 748 |  |  | $ | 503 |
Accrued expenses | 346 |  |  | 1,080 |
Deferred revenue | 26,852 |  |  | 12,828 |
Asset retirement obligations | 16 |  |  | 14 |
Net operating loss carryforward | 70,267 |  |  | 77,308 |
Operating lease liabilities | 1,529 |  |  | 1,437 |
Charitable contributions carryforward | 3 |  |  | 3 |
Stock compensation expense | 4,302 |  |  | 8,034 |
Total deferred tax asset | 104,063 |  |  | 101,207 |
Deferred tax liability |  |  |
Right of use assets | (1,345) |  |  | (1,189) |
Indefinite-lived intangible assets | (19,046) |  |  | (16,557) |
Total deferred tax liability | (20,391) |  |  | (17,746) |
Total deferred tax assets and liabilities | 83,672 |  |  | 83,461 |
Valuation allowance | (90,278) |  |  | (89,742) |
Net deferred tax assets and liabilities | $ | (6,606) |  |  | $ | (6,281) |
Schedule of Components of Income Tax Expense | The components of the income tax expense for the years ended March 31, 2025 and 2024 are as follows (in thousands):
| 2025 |  | 2024 |  |
Current: |  |  |  |  |
Federal | $ | — |  |  | $ | — |  |  |
State | 1,567 |  |  | 772 |  |  |
Total current | 1,567 |  |  | 772 |  |  |
Deferred: |  |  |  |  |
Federal | 621 |  |  | 432 |  |  |
State | (296) |  |  | 409 |  |  |
Total deferred | 325 |  |  | 841 |  |  |
Total income tax expense | $ | 1,892 |  |  | $ | 1,613 |  |  |
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, 2025 and 2024 are as follows (in thousands):
| 2025 |  | 2024 |  |
Statutory federal tax | $ | (1,991) |  |  | 21 | % |  | $ | (1,578) |  |  | 21 | % |  |  |  |
State income taxes, net of federal benefit | 952 |  |  | -10 | % |  | 1,023 |  |  | -14 | % |  |  |  |
Incentive stock option expense | (195) |  |  | 2 | % |  | (46) |  |  | 1 | % |  |  |  |
Other permanent differences | (61) |  |  | 1 | % |  | (11) |  |  | 0 | % |  |  |  |
162M executive compensation limit | 5,001 |  |  | -53 | % |  | 78 |  |  | -1 | % |  |  |  |
Change in valuation allowance - Federal | (1,692) |  |  | 18 | % |  | 1,866 |  |  | -25 | % |  |  |  |
Prior year adjustments | (122) |  |  | 1 | % |  | 281 |  |  | -3 | % |  |  |  |
| $ | 1,892 |  |  | -20 | % |  | $ | 1,613 |  |  | -21 | % |  |  |  |

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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + 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://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration