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Goodwill and Intangible Assets
 12 Months Ended
Mar. 31, 2022
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 years ended March 31, 2022 and 2021 (in thousands):

 

   Goodwill 
Balance as of April 1, 2020  $9,672 
Acquisitions   12,947 
Balance as of March 31, 2021  $22,619 
Acquisition   459 
Purchase price adjustment (See Note 4 – Business Combinations)   301 
Balance as of March 31, 2022  $23,379 

 

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 year ended March 31, 2022 (in thousands):

 

   Tradenames 
Balance as of April 1, 2020  $4,637 
Acquisitions   
-
 
Impairment losses   
-
 
Balance as of March 31, 2021  $4,637 
Acquisitions   
-
 
Impairment losses   
-
 
Balance as of March 31, 2022  $4,637 

  

Finite-Lived Intangible Assets

 

The Company’s finite-lived intangible assets were as follows as of March 31, 2022 (in thousands):

 

   Gross
Carrying
Value		   Accumulated
Amortization		   Net
Carrying
Value		 
Software  $19,281   $16,389   $2,892 
Intellectual property (patents)   5,366    1,520    3,846 
Customer relationships   6,570    6,177    393 
Content creator relationships   772    772    - 
Domain names   514    83    431 
Brand and trade names   2,643    454    2,189 
Non-compete agreement   250    181    69 
Customer list   2,998    735    2,263 
Total  $38,394   $26,311   $12,083 

 

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 list   2,903    211    2,692 
Total  $38,142   $20,311   $17,831 

 

The Company’s amortization expense on its finite-lived intangible assets was $6.0 million and $5.6 million for the years ended March 31, 2022 and 2021, respectively.

 

The Company estimated future amortization expense on its finite-lived intangible assets as of March 31, 2022 to be as follows (in thousands):

 

For Years Ended March 31,    
     
2023  $4,543 
2024   1,074 
2025   1,074 
2026   1,074 
2027   1,074 
Thereafter   3,244 
   $12,083