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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Mar. 31, 2025
Current assets    
Cash and cash equivalents $ 39,070 $ 47,374
Non-trade receivable 0 2,926
Spectrum receivable 7,549 7,107
Escrow deposits 8,993 547
Prepaid expenses and other current assets 3,192 2,801
Total current assets 58,804 60,755
Escrow deposits 407 7,103
Property and equipment, net 1,018 1,302
Right of use assets, net 4,313 4,829
Intangible assets 325,320 228,983
Deferred broadband costs 29,076 28,944
Other assets 1,437 1,188
Total assets 420,375 333,104
Current liabilities    
Accounts payable and other accrued expenses 14,820 9,075
Accrued severance and other related charges 2,697 2,265
Due to related parties 0 30
Operating lease liabilities 1,430 1,643
Contingent liability 8,802 8,093
Deferred revenue 6,872 6,095
Total current liabilities 34,621 27,201
Operating lease liabilities 3,300 3,747
Contingent liability 7,104 15,336
Deferred revenue 123,544 118,577
Deferred gain on sale of intangible assets 4,911 4,911
Deferred income tax 6,486 6,606
Other liabilities 62 125
Total liabilities 180,028 176,503
Commitments and contingencies (See Note 12)
Stockholders’ equity    
Preferred stock, $0.0001 par value per share, 10,000,000 shares authorized and no shares outstanding at September 30, 2025 and March 31, 2025 0 0
Common stock, $0.0001 par value per share, 100,000,000 shares authorized and 18,707,440 shares issued and outstanding at September 30, 2025 and 18,612,804 shares issued and outstanding at March 31, 2025 2 2
Additional paid-in capital 554,562 548,542
Accumulated deficit (314,217) (391,943)
Total stockholders’ equity 240,347 156,601
Total liabilities and stockholders’ equity $ 420,375 $ 333,104