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Note 4 - Goodwill and Intangible Assets | 9 Months Ended
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Dec. 31, 2024
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 4 — Goodwill and Intangible Assets Goodwill The Company currently has one reporting unit. The following table presents the changes in the carrying amount of goodwill for the nine months ended December 31, 2024 (in thousands):
|  | Goodwill |
Balance as of March 31, 2024 |  | $ | 12,041 |
Acquisitions |  |  | - |
Balance as of December 31, 2024 |  | $ | 12,041 |
Finite-Lived Intangible Assets The Company’s finite-lived intangible assets were as follows as of December 31, 2024 (in thousands):
|  | Gross |  |  |  |  |  |  | Net |
|  | Carrying |  |  | Accumulated |  |  | Carrying |
|  | Value |  |  | Amortization |  |  | Value |
Content creator relationships |  | $ | 3,229 |  |  | $ | 2,412 |  |  | $ | 817 |
Brand and trade names |  |  | 1,010 |  |  |  | 454 |  |  |  | 556 |
Total |  | $ | 4,239 |  |  | $ | 2,866 |  |  | $ | 1,373 |
The Company’s finite-lived intangible assets were as follows as of March 31, 2024 (in thousands):
|  | Gross |  |  |  |  |  |  | Net |
|  | Carrying |  |  | Accumulated |  |  | Carrying |
|  | Value |  |  | Amortization |  |  | Value |
Content creator relationships |  | $ | 4,082 |  |  | $ | 1,568 |  |  | $ | 2,514 |
Brand and trade names |  |  | 1,010 |  |  |  | 379 |  |  |  | 631 |
Total |  | $ | 5,092 |  |  | $ | 1,947 |  |  | $ | 3,145 |
Finder's Fee Agreement In September 2023, the Company entered into a finder's fee arrangement pursuant to which the Company agreed to issue shares of its 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 of such platform entered into new podcasting agreements with the Company, with the amount of the fee to be based on the amount of revenues actually derived by the Company from such podcasts during a predetermined period. Payments made to such third party attributed to the Company entering into new podcast contracts were capitalized to content creator relationship intangibles. During the three months ended December 31, 2024, the Company made an adjustment of $0.5 million to accrued common stock and content creator relationships to account for the settlement of the finder's fee agreement attributed to multiple third-party platforms. The Company's amortization expense on its finite-lived intangible assets was $0.3 million and $0.1 million for the three months ended December 31, 2024 and 2023, respectively. The Company’s amortization expense on its finite-lived intangible assets was $1.0 million and $0.5 million for the nine months ended December 31, 2024 and 2023, respectively. The Company recorded an impairment charge of $0.2 million and none for the nine months ended December 31, 2024 and 2023, respectively. The impairment for the nine months ended December 31, 2024 was the result of the winding down of a podcast show acquired by PodcastOne. The Company expects to record amortization of intangible assets for fiscal years ending March 31, 2025 and future fiscal years as follows (in thousands):
For Years Ending March 31, |  |  |  |
2025 (remaining three months) |  | $ | 125 |
2026 |  |  | 581 |
2027 |  |  | 338 |
2028 |  |  | 101 |
2029 |  |  | 101 |
Thereafter |  |  | 127 |
|  | $ | 1,373 |

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