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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		%

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- 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
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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

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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.

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Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
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-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
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