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Goodwill and Intangible Assets
 9 Months Ended
Dec. 31, 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 nine months ended December 31, 2021 (in thousands):

 

   Goodwill 
Balance as of March 31, 2021  $22,619 
Acquisitions   460 
Impairment losses   
-
 
Purchase price adjustment (See Note 4 – Business Combinations)   301 
Balance as of December 30, 2021  $23,380 

 

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 nine months ended December 31, 2021 (in thousands):

 

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

 

Finite-Lived Intangible Assets 

 

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

 

   Gross
Carrying
Value		   Accumulated
Amortization		   Net
Carrying
Value		 
Software  $19,281   $15,425   $3,856 
Intellectual property (patents)   5,366    1,430    3,936 
Customer relationships   6,570    6,046    524 
Content creator relationships   772    726    46 
Domain names   514    70    444 
Brand and trade names   2,643    403    2,240 
Non-compete agreement   250    160    90 
Customer lists   2,998    598    2,400 
Total  $38,394   $24,858   $13,536 

 

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 $4.6 million for the three and nine months ended December 31, 2021, respectively, and $1.4 million and $4.1 million for the three and nine 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 three months)  $1,479 
2023   4,543 
2024   1,074 
2025   1,073 
2026   1,099 
Thereafter   4,268 
   $13,536