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Goodwill and Intangible Assets | 9 Months Ended
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Dec. 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 nine months ended December 31, 2022 (in thousands):
|  | Goodwill |
Balance as of March 31, 2022 |  | $ | 23,379 |
Acquisitions |  |  | - |
Balance as of December 31, 2022 |  | $ | 23,379 |
Indefinite-Lived Intangible Assets The following table presents the changes in the carrying amount of indefinite-lived intangible assets for the nine months ended December 31, 2022 (in thousands):
|  | Tradenames |
Balance as of March 31, 2022 |  | $ | 4,637 |
Acquisitions |  |  | - |
Impairment losses |  |  | - |
Balance as of December 31, 2022 |  | $ | 4,637 |
Finite-Lived Intangible Assets The Company’s finite-lived intangible assets were as follows as of December 31, 2022 (in thousands):
|  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |
Software |  | $ | 19,281 |  |  | $ | 19,281 |  |  | $ | - |
Intellectual property (patents) |  |  | 5,366 |  |  |  | 1,789 |  |  |  | 3,577 |
Customer relationships |  |  | 6,570 |  |  |  | 6,570 |  |  |  | - |
Content creator relationships |  |  | 772 |  |  |  | 772 |  |  |  | - |
Domain names |  |  | 523 |  |  |  | 125 |  |  |  | 398 |
Brand and trade names |  |  | 1,143 |  |  |  | 322 |  |  |  | 821 |
Customer lists |  |  | 2,767 |  |  |  | 921 |  |  |  | 1,846 |
Total |  | $ | 36,422 |  |  | $ | 29,780 |  |  | $ | 6,642 |
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 lists |  |  | 2,998 |  |  |  | 735 |  |  |  | 2,263 |
Total |  | $ | 38,394 |  |  | $ | 26,311 |  |  | $ | 12,083 |
The Company’s amortization expense on its finite-lived intangible assets was $1.3 million and $4.1 million for the three and nine months ended December 31, 2022, respectively, and $1.5 million and $4.6 million for the three and nine months ended December 31, 2021, respectively. The Company recorded an impairment charge of $1.4 million for the three and nine months ended December 31, 2022 which is classified under impairment of intangible assets within the statement of operations. The impairment was the result of a reduction in the events held within React Presents, therefore the Company has stopped marketing the brand name. The Company expects to record amortization of intangible assets for fiscal years ending March 31, 2023 and future fiscal years as follows (in thousands):
For Years Ending March 31, |  |  |
2023 (remaining three months) |  | $ | 246 |
2024 |  |  | 985 |
2025 |  |  | 985 |
2026 |  |  | 977 |
2027 |  |  | 842 |
Thereafter |  |  | 2,607 |
|  | $ | 6,642 |

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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 https://asc.fasb.org/topic&trid=2144416 + Details
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