XML 23 R13.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Intangible and Other Assets, Net | 3 Months Ended
--- | ---
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible and Other Assets, Net | Intangible and Other Assets, Net Intangible assets and other assets, net consisted of the following (in thousands):
| Useful Life |  | Gross Value |  | Accumulated Amortization |  | Net Carrying Value |  | Weighted Average Remaining Useful Life (Years)
June 30, 2024 |  |  |  |  |  |  |  |  |
Intangible Assets |  |  |  |  |  |  |  |  |
Toll-free telephone number | Indefinite |  | $ | 375 |  |  | $ | – |  |  | $ | 375 |  |  | Indefinite
Internet domain names | Indefinite |  | 485 |  |  | – |  |  | 485 |  |  | Indefinite
Trade Names - PetCareRx | Indefinite |  | 2,600 |  |  | – |  |  | 2,600 |  |  | Indefinite
Customer Relationships -PetCareRx | 7 years |  | 6,700 |  |  | (1,196) |  |  | 5,504 |  |  | 5.75 years
Developed Technology - PetCareRx | 3 years |  | 3,000 |  |  | (1,250) |  |  | 1,750 |  |  | 1.75 years
|  |  | $ | 13,160 |  |  | $ | (2,446) |  |  | $ | 10,714 |  |  |
Other Assets |  |  |  |  |  |  |  |  |
Initial minority interest investment in Vetster | N/A |  | 5,300 |  |  | – |  |  | 5,300 |  |  | N/A
Balance June 30, 2024 |  |  | $ | 18,460 |  |  | $ | (2,446) |  |  | $ | 16,014 |  |  |
March 31, 2024 |  |  |  |  |  |  |  |  |
Intangible Assets |  |  |  |  |  |  |  |  |
Toll-free telephone number | Indefinite |  | $ | 375 |  |  | $ | – |  |  | $ | 375 |  |  | Indefinite
Internet domain names | Indefinite |  | 485 |  |  | – |  |  | 485 |  |  | Indefinite
Trade Names - PetCareRx | Indefinite |  | 2,600 |  |  |  |  | 2,600 |  |  | Indefinite
Customer Relationships -PetCareRx | 7 years |  | 6,700 |  |  | (957) |  |  | $ | 5,743 |  |  | 6 years
Developed Technology - PetCareRx | 3 years |  | 3,000 |  |  | (1,000) |  |  | $ | 2,000 |  |  | 2 years
|  |  | $ | 13,160 |  |  | $ | (1,957) |  |  | $ | 11,203 |  |  |
Other Assets |  |  |  |  |  |  |  |  |
Initial minority interest investment in Vetster | N/A |  | 5,300 |  |  | – |  |  | 5,300 |  |  | N/A
Balance March 31, 2024 |  |  | $ | 18,460 |  |  | $ | (1,957) |  |  | $ | 16,503 |  |  |
Amortization expense for intangible assets was $0.5 million and $0.5 million for the three months ended June 30, 2024 and 2023, respectively. The indefinite life intangibles are not being amortized and are subject to an annual review for impairment in accordance with the ASC Topic 350 (“Goodwill and Other Intangible Assets”). On April 19, 2022, the Company engaged in a three-year partnership agreement with Vetster Inc. (“Vetster”), a Canadian veterinary telehealth company. The Company also purchased a 5% minority interest in Vetster in the amount of $5.0 million and received warrants for additional equity in Vetster, which are tied to future performance milestones. Under the terms of the agreement, Vetster became the exclusive provider of telehealth and telemedicine services to the Company. The minority interest investment is being valued on the cost basis and the investment will be evaluated periodically for any impairment. On October 3, 2023, the Company purchased additional shares in Vetster in the amount of $0.3 million. This increases the minority interest investment to $5.3 million. Following this round, the Company’s minority ownership changed to approximately 4.8% of Vetster’s outstanding shares.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-4 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481283/985-20-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/985-20/tableOfContent + Details
Name: | us-gaap_IntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration