v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 72,115 $ (20,580)
Adjustments to reconcile net income (loss) to net cash used in operating activities    
Depreciation and amortization 361 472
Stock compensation expense 8,794 10,619
Deferred income taxes (465) 455
Right of use assets 553 1,226
Gain on exchange of intangible assets, net (94,324) (20,846)
Gain on sale of intangible assets, net (12,759) 0
Loss from disposal of long-lived assets, net 30 0
Changes in operating assets and liabilities    
Non-trade receivable 2,926 0
Prepaid expenses and other assets (186) 1,265
Accounts payable and other accrued expenses (1,590) 383
Accrued severance and other related charges 428 2,290
Due to related parties (30) 0
Operating lease liabilities (746) (1,453)
Contingent liability 7,064 10,000
Deferred revenue 7,924 3,849
Other liabilities (103) (388)
Net cash used in operating activities (10,008) (12,708)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of intangible assets and other related costs (19,800) (12,621)
Proceeds from sale of spectrum 14,239 0
Purchases of equipment (9) (41)
Net cash used in investing activities (5,570) (12,662)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from stock option exercises 157 1,960
Repurchases of common stock (990) (6,443)
Payments of withholding tax on net issuance of restricted stock (726) (1,843)
Net cash used in financing activities (1,559) (6,326)
Net change in cash and cash equivalents and restricted cash (17,137) (31,696)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH    
Cash and cash equivalents and restricted cash at beginning of the period 55,024 68,124
Cash and cash equivalents and restricted cash at end of the period 37,887 36,428
Cash paid during the period:    
Taxes paid, including excise tax 3,909 1,058
Operating leases paid 1,592 1,732
Non-cash investing activity:    
Capitalized change in estimated asset retirement obligations 53 0
Network equipment provided in exchange for wireless licenses 0 47
Narrowband spectrum licenses received in connection with the LCRA Agreement 0 1,430
Derecognition of contingent liability related to sale of intangible assets 15,343 0
Right of use assets new leases 621 290
Right of use assets modifications and renewals $ 47 $ 1,221