Goodwill and Intangible Assets

3 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Note 7. Goodwill and Intangible Assets

The acquired goodwill represents the value of combining operations of Amplex and the Company.

The change in the carrying amount of goodwill as of June 30, 2024 was as follows:


(In thousands)	Gross Carrying Amount		Additions		Impairment		Net Book Value
Goodwill	$	-	$	10,434	$	-		10,434
	$	-	$	10,434	$	-	$	10,434

Intangible assets consist of the following as of June 30, 2024:


(In thousands)	Weighted Average Remaining Amortization Period		Gross Carrying Amount		Additions		Impairment		Accumulated Amortization			Net Book Value
Definite lived intangible assets:
Subscriber relationships		13.97	$	-	$	7,300	$	-	$	(22	)	$	7,278
Trade name		20.94		-		3,000		-		(6	)		2,994
Internally developed software		4.96		-		250		-		(2	)		248
				-		10,550		-		(30	)		10,520
Indefinite lived intangible assets:
CBRS FCC license				-		580		-		-			580
				-		580		-		-			580
			$	-	$	11,130	$	-	$	(30	)	$	11,100

Amortization expense totaled $30 thousand and $0 for the three months ended June 30, 2024 and 2023, respectively, which is included in depreciation and amortization in the condensed consolidated statements of operations.

As of June 30, 2024, the future expected amortization expense for intangible assets is as follows:


(In thousands)
Remainder of FY 2025	$	536
FY 2026		714
FY 2027		714
FY 2028		714
FY 2029		714
Thereafter		7,128
Total	$	10,520