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Intangible and Other Assets, Net | 12 Months Ended
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Mar. 31, 2025
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)
March 31, 2025 |  |  |  |  |  |  |  |  |
Intangible Assets |  |  |  |  |  |  |  |  |
Toll-free telephone number | Indefinite |  | $ | 375 |  |  | $ | — |  |  | $ | 375 |  |  | Indefinite
Internet domain names | Indefinite |  | 485 |  |  | $ | — |  |  | 485 |  |  | Indefinite
Trade Names - PetCareRx | Indefinite |  | 1,400 |  |  | $ | — |  |  | 1,400 |  |  | Indefinite
Customer Relationships -PetCareRx | 7 years |  | 6,700 |  |  | (1,914) |  |  | 4,786 |  |  | 5
Developed Technology - PetCareRx | 3 years |  | 3,000 |  |  | (2,000) |  |  | 1,000 |  |  | 1
|  |  | $ | 11,960 |  |  | $ | (3,914) |  |  | $ | 8,046 |  |  |
Other Assets |  |  |  |  |  |  |  |  |
Minority interest investment in Vetster | N/A |  | 5,300 |  |  | — |  |  | 5,300 |  |  | N/A
Balance March 31, 2025 |  |  | $ | 17,260 |  |  | $ | (3,914) |  |  | $ | 13,346 |  |  |
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
Developed Technology - PetCareRx | 3 years |  | 3,000 |  |  | (1,000) |  |  | 2,000 |  |  | 2
Balance March 31, 2024 |  |  | $ | 13,160 |  |  | $ | (1,957) |  |  | $ | 11,203 |  |  |
Other Assets |  |  |  |  |  |  |  |  |
Minority interest investment in Vetster | N/A |  | $ | 5,300 |  |  | $ | — |  |  | $ | 5,300 |  |  | N/A
Balance March 31, 2024 |  |  | $ | 18,460 |  |  | $ | (1,957) |  |  | $ | 16,503 |  |  |
The Company evaluated its indefinite-lived intangible assets for indicators of impairment as of March 31, 2025 and concluded that there was an impairment loss of $1.2 million. Amortization expense for intangible assets was $2.0 million, $2.0 million and zero for the twelve months ended March 31, 2025, 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”). The following table summarizes expected amortization of our intangible assets at March 31, 2025 (in thousands):
Year Ending March 31, |  |
2026 |  | 1,958 |
2027 |  | 957 |
2028 |  | 957 |
2029 |  | 957 |
Thereafter |  | 957 |
Total |  | $ | 5,786 |
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. On October 3, 2023, the Company purchased additional shares in Vetster in the amount of $0.3 million. This increased 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. The minority interest investment is being valued on the cost basis. At March 31, 2025, we evaluated the investment in accordance with ASC Topic 321 (Accounting for Equity Interests) and determined it was not impaired. Under the terms of the agreement, the Company became the exclusive pet products e-commerce provider for Vetster, and Vetster became the exclusive provider of telehealth and telemedicine services to the Company. The Company and Vetster will continue to work on a non-exclusive basis under the terms of the agreement after April 19, 2025. The minority interest investment is being valued on the cost basis and the investment will be evaluated periodically for any impairment. Under the terms of the agreement, Vetster earns from 10% to 20% of revenue generated from its customers on orders fulfilled by the Company. For the years ended March 31, 2025, 2024, and 2023 the Company earned approximately $1.5 million, $0.8 million, and $0.4 million in net sales for orders placed through Vetster and incurred fees to Vetster of approximately $0.3 million, $0.2 million, and $0.1 million, respectively.

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