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Note 3 - Revenue
 6 Months Ended
Sep. 30, 2024
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]

Note 3 — Revenue

 

The following table represents a disaggregation of revenue from contracts with customers for the three months ended  September 30, 2024 and 2023 (in thousands):

 

  

Three Months Ended

  

Six Months Ended

 
  

September 30,

  

September 30,

 
  

2024

  

2023

  

2024

  

2023

 

Revenue

                

Membership Services

 $19,477  $16,428  $38,326  $31,640 

Advertising

  12,309   10,732   25,383   21,516 

Merchandising

  808   1,259   1,963   2,999 

Sponsorship and Licensing

  -   97   -   126 

Ticket/Event

  -   12   -   14 

Total Revenue

 $32,594  $28,528  $65,672  $56,295 

 

For some contracts, the Company may invoice up front for services recognized over time or for contracts in which the Company has unsatisfied performance obligations. Payment terms and conditions vary by contract type, although terms generally cover monthly payments. In the circumstances where the timing of invoicing differs from the timing of revenue recognition, the Company has determined its contracts do not include a significant financing component. The Company has elected to apply the practical expedient under ASC 606-10-50-14 and not provide disclosure of the amount and timing of performance obligations as the performance obligations are part of a contract that has an original expected duration of one year or less.

 

For the three months ended September 30, 2024 and 2023, one customer accounted for 57% and 51% of the Company’s consolidated revenues, respectively. For the six months ended September 30, 2024 and 2023, one customer accounted for 55% and 51% of the Company’s consolidated revenues, respectively. 

 

The following table summarizes the significant changes in the deferred revenue balances during the three months ended September 30, 2024 (in thousands):

 

  

Deferred

 
  

Revenue

 

Balance as of March 31, 2024

 $728 

Revenue recognized that was included in the contract liability at beginning of period

  (303)

Increase due to cash received, excluding amounts recognized as revenue during the period

  224 

Balance as of September 30, 2024

 $649