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Goodwill and Intangible Assets
 12 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

Note 8. Goodwill and Intangible Assets

The acquired goodwill represents the value of combining operations of Amplex and the Company. See the Business Combination (Note 3) for more information on the acquisition of Amplex and the calculation of goodwill.

The change in the carrying amount of goodwill for the fiscal year ended March 31, 2025 was as follows:

(In thousands)

March 31, 2024

 

 

Additions

 

 

Impairment

 

 

March 31, 2025

 

Goodwill

$

-

 

 

$

12,280

 

 

$

-

 

 

 

12,280

 

 

$

-

 

 

$

12,280

 

 

$

-

 

 

$

12,280

 

 

The Company performed a qualitative impairment analysis as described in the Summary of Significant Accounting Policies (see Note 2) and determined it was not more likely than not that the carrying value of its reporting unit exceeded its fair value.

For more information surrounding the intangible assets presented below, reference the Business Combination footnote (note 3). The changes in intangible assets for the fiscal year ended March 31, 2025 consists of the following:

(In thousands)

Weighted-Average Remaining Amortization Period (Years)

 

 

March 31, 2024

 

 

Additions

 

 

Impairment

 

 

Amortization

 

 

March 31, 2025

 

Definite lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Subscriber relationships

 

4.21

 

 

$

-

 

 

$

2,654

 

 

$

-

 

 

$

(420

)

 

$

2,234

 

Trade name

 

9.16

 

 

 

-

 

 

 

507

 

 

 

-

 

 

 

(40

)

 

 

467

 

 

 

 

 

 

-

 

 

 

3,161

 

 

 

-

 

 

 

(460

)

 

 

2,701

 

Indefinite lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IP Addresses

N/A

 

 

 

-

 

 

 

392

 

 

 

-

 

 

 

-

 

 

 

392

 

CBRS FCC license

N/A

 

 

 

-

 

 

 

580

 

 

 

-

 

 

 

-

 

 

 

580

 

 

 

 

 

 

-

 

 

 

972

 

 

 

-

 

 

 

-

 

 

 

972

 

 

 

 

 

$

-

 

 

$

4,133

 

 

$

-

 

 

$

(460

)

 

$

3,673

 

 

The Company performed a qualitative impairment analysis as outlined in “Note 2 – Significant Accounting Policies” and determined it was not more likely than not that any intangible assets were impaired for the year ended March 31, 2025. No intangible assets were reported as of March 31, 2024.

Amortization expense totaled $0.5 million and $0.1 million for the fiscal year ended March 31, 2025 and 2024, respectively. Amortization expense is included in depreciation and amortization in the consolidated statements of operations.

As of March 31, 2025, the future expected amortization expense for the definite lived intangible assets is as follows:

(In thousands)

 

 

FY 2026

$

582

 

FY 2027

 

582

 

FY 2028

 

582

 

FY 2029

 

582

 

FY 2030

 

161

 

Thereafter

 

212

 

Total

$

2,701