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Goodwill and Intangible Assets | 3 Months Ended
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Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Note 5 — Goodwill and Intangible Assets Goodwill The Company currently has two reporting units. The following table presents the changes in the carrying amount of goodwill for the three months ended June 30, 2023 (in thousands):
|  | Goodwill |
Balance as of March 31, 2023 |  | $ | 23,379 |
Acquisitions |  |  | - |
Balance as of June 30, 2023 |  | $ | 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 Audio Group segment for the three months ended June 30, 2023 (in thousands):
|  | Tradenames |
Balance as of March 31, 2023 |  | $ | 4,637 |
Acquisitions |  |  | - |
Impairment losses |  |  | - |
Balance as of June 30, 2023 |  | $ | 4,637 |
Finite-Lived Intangible Assets The Company’s finite-lived intangible assets were as follows as of June 30, 2023 (in thousands):
|  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |
Software |  | $ | 19,281 |  |  | $ | 19,281 |  |  | $ | - |
Intellectual property (patents) |  |  | 5,366 |  |  |  | 1,969 |  |  |  | 3,397 |
Customer relationships |  |  | 6,570 |  |  |  | 6,570 |  |  |  | - |
Content creator relationships |  |  | 772 |  |  |  | 772 |  |  |  | - |
Domain names |  |  | 523 |  |  |  | 149 |  |  |  | 374 |
Brand and trade names |  |  | 1,143 |  |  |  | 374 |  |  |  | 769 |
Customer list |  |  | 2,767 |  |  |  | 1,156 |  |  |  | 1,611 |
Total |  | $ | 36,422 |  |  | $ | 30,271 |  |  | $ | 6,151 |
The Company’s finite-lived intangible assets were as follows as of March 31, 2023 (in thousands):
|  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |
Software |  | $ | 19,281 |  |  | $ | 19,281 |  |  | $ | - |
Intellectual property (patents) |  |  | 5,366 |  |  |  | 1,878 |  |  |  | 3,488 |
Customer relationships |  |  | 6,570 |  |  |  | 6,570 |  |  |  | - |
Content creator relationships |  |  | 772 |  |  |  | 772 |  |  |  | - |
Domain names |  |  | 523 |  |  |  | 137 |  |  |  | 386 |
Brand and trade names |  |  | 1,143 |  |  |  | 347 |  |  |  | 796 |
Customer list |  |  | 2,767 |  |  |  | 1,039 |  |  |  | 1,728 |
Total |  | $ | 36,422 |  |  | $ | 30,024 |  |  | $ | 6,398 |
The Company’s amortization expense on its finite-lived intangible assets was $0.2 million and $1.4 million for the three months ended June 30, 2023 and 2022, respectively. The Company expects to record amortization of intangible assets for fiscal years ending March 31, 2024 and future fiscal years as follows (in thousands):
For Years Ending March 31, |  |  |
2024 (remaining nine months) |  | $ | 741 |
2025 |  |  | 985 |
2026 |  |  | 985 |
2027 |  |  | 977 |
2028 |  |  | 842 |
Thereafter |  |  | 1,621 |
|  | $ | 6,151 |

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