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Note 3 - Revenue
 9 Months Ended
Dec. 31, 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  December 31, 2024 and 2023 (in thousands):

 

  

Three Months Ended

  

Nine Months Ended

 
  

December 31,

  

December 31,

 
  

2024

  

2023

  

2024

  

2023

 

Revenue

                

Membership Services

 $14,292  $16,858  $52,618  $48,498 

Advertising

  12,851   10,592   38,234   32,108 

Merchandising

  2,302   3,795   4,265   6,794 

Sponsorship and Licensing

  -   -   -   126 

Ticket/Event

  -   -   -   15 

Total Revenue

 $29,445  $31,245  $95,117  $87,541 

 

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 December 31, 2024 and 2023, one customer accounted for 46% and 49% of the Company’s consolidated revenues, respectively. For the nine months ended December 31, 2024 and 2023, one customer accounted for 52% and 52% of the Company’s consolidated revenues, respectively. 

 

The following table summarizes the significant changes in the deferred revenue balances during the three months ended December 31, 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

  2,191 

Balance as of December 31, 2024

 $2,616