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Note 3 - Revenue
 12 Months Ended
Mar. 31, 2025
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 years ended March 31, 2025 and 2024 (in thousands):

 

  

Year Ended March 31,

 
  

2025

  

2024

 

Revenue

        

Membership services

 $56,939  $66,182 

Advertising

  52,285   43,729 

Merchandising

  5,181   8,271 

Sponsorship and Licensing

  -   126 

Ticket/Event

  -   132 

Total Revenue

 $114,405  $118,440 

 

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 years ended March 31, 2025 and 2024, one customer accounted for 45% and 51% of our consolidated revenues, respectively.

 

The following table summarizes the significant changes in contract liabilities (deferred revenue) balances during the years ended March 31, 2025 and 2024 (in thousands):

 

  

Contract Liabilities

 

Balance as of April 1, 2023

 $992 

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

  (389)

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

  125 

Balance as of March 31, 2024

  728 

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

  (302)

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

  1,715 

Balance as of March 31, 2025

 $2,141