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Note 5 - Goodwill and Intangible Assets

6 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Text Block]

Note 5 — Goodwill and Intangible Assets

Goodwill

The following table presents the changes in the carrying amount of goodwill for the six months ended September 30, 2025 (in thousands):

	*Goodwill*
Balance as of March 31, 2025	$	21,712
Acquisitions		-
Impairment losses		-
Balance as of September 30, 2025	$	21,712

Indefinite-Lived Intangible Assets

The following table presents the changes in the carrying amount of indefinite-lived brand and trade names intangible assets that are only in the Company’s Slacker operating segment for the three months ended September 30, 2025 (in thousands):

	*Tradenames*
Balance as of March 31, 2025	$	774
Acquisitions		-
Impairment losses		-
Balance as of September 30, 2025	$	774

Finite-Lived Intangible Assets

The Company’s finite-lived intangible assets were as follows as of September 30, 2025 (in thousands):

	*Gross*				*Net*
	*Carrying*		*Accumulated*		*Carrying*
	*Value*		*Amortization*		*Value*
Software	$	19,281	$	19,281	$	-
Intellectual property (patents)		3,146		2,623		523
Customer relationships		6,570		6,570		-
Content creator relationships		3,229		2,774		455
Domain names		123		70		53
Brand and trade names		1,071		597		474
Total	$	33,420	$	31,915	$	1,505

The Company’s finite-lived intangible assets were as follows as of March 31, 2025 (in thousands):

	*Gross*				*Net*
	*Carrying*		*Accumulated*		*Carrying*
	*Value*		*Amortization*		*Value*
Software	$	19,281	$	19,281	$	-
Intellectual property (patents)		3,146		2,593		553
Customer relationships		6,570		6,570		-
Content creator relationships		3,228		2,574		654
Domain names		123		66		57
Brand and trade names		1,071		540		531
Customer list		2,673		2,673		-
Total	$	36,092	$	34,297	$	1,795

Intangible assets are amortized over their estimated useful lives based on the pattern in which the economic benefits associated with the asset are expected to be consumed, which to date has approximated the straight-line method of amortization. The estimated useful lives for patents, customer relationships, domain names, brand and tradename and customer list are generally three to 15 years, one to two years, two to five years, seven to ten years and three to four years, respectively.

The Company’s amortization expense on its finite-lived intangible assets was $0.1 million and $0.5 million for the three months ended September 30, 2025 and 2024, respectively. The Company’s amortization expense on its finite-lived intangible assets was $0.3 million and $1.1 million for the three months ended September 30, 2025 and 2024, respectively. The Company recorded an impairment charge attributed to finite-lived intangibles of none and $0.2 million for the six months ended September 30, 2025 and 2024, respectively. The impairment for the six months ended September 30, 2024 was the result of the winding down of a podcast show acquired by PodcastOne.

Finder's Agreement

In September 2023, PodcastOne entered into a finder's fee arrangement pursuant to which it agreed to issue shares of PodcastOne common stock at a price of $8.00 per share (subject to adjustment in certain limited circumstances) as a finder’s fee to a certain third party podcast platform in the event certain former and/or current podcasts creators of such platform entered into new podcasting agreements with PodcastOne, with the amount of the fee to be based on the amount of revenues actually derived by PodcastOne from such podcasts during a predetermined period. Payments made to such third party attributed to PodcastOne entering into new podcast contracts were capitalized to content creator relationship intangibles. As of September 30, 2025 and March 31, 2025, the Company has capitalized $2.6 million of payments made to such third party. $2.6 million capitalized of payments made to such third party which was paid with PodcastOne common stock at a price of $8.00 per share.

The Company expects to record amortization of intangible assets for fiscal years ending March 31, 2026 and future fiscal years as follows (in thousands):

For Years Ending March 31,
2026 (remaining six months)	$	363
2027		366
2028		182
2029		182
2030		182
Thereafter		230
	$	1,505