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Goodwill and Intangible Assets
 3 Months Ended
Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

Note 6 — Goodwill and Intangible Assets

 

Goodwill

 

The Company currently has one reporting unit. The following table presents the changes in the carrying amount of goodwill for the three months ended June 30, 2021 (in thousands):

 

   Goodwill 
Balance as of March 31, 2021  $22,619 
Acquisitions   
-
 
Impairment losses   
-
 
Purchase price adjustment (See Note 4 – Business Combinations)   301 
Balance as of June 30, 2021  $22,920 

 

Indefinite-Lived Intangible Assets

 

The following table presents the changes in the carrying amount of indefinite-lived intangible assets in the Company’s reportable segment for the three months ended June 30, 2021 (in thousands):

 

   Tradenames 
Balance as of March 31, 2021  $4,637 
Acquisitions   
-
 
Impairment losses   
-
 
Balance as of June 30, 2021  $4,637 

 

Finite-Lived Intangible Assets

 

The Company’s finite-lived intangible assets were as follows as of June 30, 2021 (in thousands):

 

   Gross
Carrying
Value		   Accumulated
Amortization		   Net
Carrying
Value		 
Software  $19,281   $13,497   $5,784 
Intellectual property (patents)   5,366    1,252    4,114 
Customer relationships   6,570    5,783    787 
Content creator relationships   772    489    283 
Domain names   514    41    473 
Brand and trade names   2,571    303    2,268 
Non-compete agreement   250    118    132 
Customer lists   2,903    334    2,569 
Total  $38,227   $21,817   $16,410 

 

The Company’s finite-lived intangible assets were as follows as of March 31, 2021 (in thousands):

 

   Gross
Carrying
Value		   Accumulated
Amortization		   Net
Carrying
Value		 
Software  $19,281   $12,533   $6,748 
Intellectual property (patents)   5,366    1,163    4,203 
Customer relationships   6,570    5,652    918 
Content creator relationships   772    371    401 
Domain names   429    31    398 
Brand and trade names   2,571    253    2,318 
Non-compete agreement   250    97    153 
Customer lists   2,903    211    2,692 
Total  $38,142   $20,311   $17,831 

 

The Company’s amortization expense on its finite-lived intangible assets was $1.5 million and $1.3 million for the three months ended June 30, 2021 and 2020, respectively.

 

The Company expects to record amortization of intangible assets for fiscal years ending March 31, 2022 and future fiscal years as follows (in thousands):

  

For Years Ending March 31,    
2022 (remaining nine months)  $4,505 
2023   4,482 
2024   1,024 
2025   1,058 
2026   1,084 
Thereafter   4,257 
   $16,410