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Segment Reporting
 12 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
Accounting Standards Codification, Segment Reporting (“ASC 280”) defines operating segments as components of an enterprise for which separate financial information is available that is regularly evaluated by the Company’s CODM in deciding how to allocate resources and assess performance. The Company’s CODM is its President and Chief Executive Officer who, alongside the company-wide management team, evaluates the financial performance of the Company and determines how to allocate resources on a consolidated basis. Accordingly, it was determined under ASC 280 “management approach” that the Company operates as one operating and reportable segment which is focused on the monetization of its spectrum assets. The accounting policies of the segment are the same as those described in Note 2 Summary of Significant Accounting Policies.
The measure of segment profit or loss for the Company's single segment is net loss. Additionally, the CODM uses cash and cash equivalents as a measure of segment assets, which is included on the Company’s consolidated financial statements. Cash and cash equivalents is reviewed and monitored by CODM to ensure enough capital is available for investing in purchases of intangible assets, refundable deposits, retuning costs and swaps, and the Company’s share repurchase program.
Segment expenses were disaggregated based on the information the CODM uses to assess performance and allocate resources considering both quantitative and qualitative factors. The table below summarizes significant segment expenses and other items, which represent the difference between segment revenue and segment net loss (in thousands):
20252024
Spectrum revenue$6,031 $4,191 
Significant and other segment expenses
Adjusted general and administrative (1)
30,654 29,771 
Adjusted sales and support (2)
5,878 5,260 
Adjusted product development (3)
5,489 5,275 
Depreciation and amortization548 844 
Gain on exchange of intangible assets, net(22,799)(35,024)
Gain on sale of intangible assets, net(18,294)(7,364)
Other segment items (4)
16,269 15,551 
Interest income(2,159)(2,374)
Other income(75)(233)
Income tax expense1,892 1,613 
Net loss$(11,372)$(9,128)
1.Adjusted general and administrative includes expenses related to certain corporate functions, such as, executive, legal, finance, information technology, human resources and others, public company costs, bonus expense for all employees, insurance costs and other costs.
2.Adjusted sales and support includes expenses related to sales and marketing functions.
3.Adjusted product development includes expenses related to technology and product development functions.
4.Other segment items include items not deemed significant or regularly provided to the CODM, such as severance and other related charges, stock compensation and loss from disposal of long-lived assets.