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Goodwill and Intangible Assets | 6 Months Ended
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Sep. 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 six months ended September 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 September 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 six months ended September 30, 2021 (in thousands):
|  | Tradenames |
Balance as of March 31, 2021 |  | $ | 4,637 |
Acquisitions |  |  | - |
Impairment losses |  |  | - |
Balance as of September 30, 2021 |  | $ | 4,637 |
Finite-Lived Intangible Assets The Company’s finite-lived intangible assets were as follows as of September 30, 2021 (in thousands):
|  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |
Software |  | $ | 19,281 |  |  | $ | 14,461 |  |  | $ | 4,820 |
Intellectual property (patents) |  |  | 5,366 |  |  |  | 1,341 |  |  |  | 4,025 |
Customer relationships |  |  | 6,570 |  |  |  | 5,915 |  |  |  | 655 |
Content creator relationships |  |  | 772 |  |  |  | 607 |  |  |  | 165 |
Domain names |  |  | 514 |  |  |  | 52 |  |  |  | 462 |
Brand and trade names |  |  | 2,571 |  |  |  | 353 |  |  |  | 2,218 |
Non-compete agreement |  |  | 250 |  |  |  | 139 |  |  |  | 111 |
Customer lists |  |  | 2,903 |  |  |  | 466 |  |  |  | 2,437 |
Total |  | $ | 38,227 |  |  | $ | 23,334 |  |  | $ | 14,893 |
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 $3.0 million for the three and six months ended September 30, 2021, respectively, and $1.4 million and $2.7 million for the three and six months ended 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 six months) |  | $ | 2,988 |
2023 |  |  | 4,482 |
2024 |  |  | 1,024 |
2025 |  |  | 1,058 |
2026 |  |  | 1,084 |
Thereafter |  |  | 4,257 |
|  | $ | 14,893 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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