v3.26.1
Segment Information
 12 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
Operating segments are identified as components of an enterprise for which separate discrete financial information is available for evaluation by the chief operating decision maker (“CODM”) in making decisions regarding resource allocation and assessing performance. The Company has determined that its Chief Executive Officer is the CODM. The Company reports its results of operations through the following two segments, each of which represents an operating and reportable segment, as follows:
•On Device Solutions (“ODS”) - This segment generates revenue from the delivery of mobile application media or content to end users with solutions for all participants in the mobile application ecosystem that want to connect with end users and consumers who hold the device. This includes mobile carriers and device OEMs that participate in the app economy, app publishers and developers, and brands and advertising agencies. This segment's product offerings are enabled through relationships with mobile device carriers and OEMs.
•App Growth Platform (“AGP”) - AGP customers are primarily advertisers and publishers, and the segment provides platforms that allow mobile app publishers and developers to monetize their monthly active users via display, native, and video advertising. The AGP platforms allow DSPs, advertisers, agencies, and publishers to buy and sell digital ad impressions, primarily through programmatic, real-time bidding auctions and, in some cases, through direct-bought/sold advertiser budgets. The segment also provides brand and performance advertising products to advertisers and agencies.
The Company’s CODM evaluates the performance of the segments and makes resource allocation decisions based on segment net revenue and segment profit. The Company’s CODM regularly reviews the revenue share by segment and treats it as a significant segment expense.
Segment net revenue and revenue share are exclusive of certain activities and expenses that are not allocated to specific segments and are reported on a consolidated basis. In addition, operating expenses are evaluated on a consolidated basis and are not disaggregated or analyzed by segment within the Company’s internal reporting, as shown in the reconciling table below.
A summary of segment information follows:
Year Ended March 31, 2026
ODSAGPEliminationConsolidated
Net revenue(1)
$382,429 $185,742 $(2,920)$565,251 
Revenue share(1)
209,020 37,538 (2,920)243,638 
Segment profit$173,409 $148,204 $— $321,613 
 
Year Ended March 31, 2025
ODSAGPEliminationConsolidated
Net revenue(1)
$341,632 $153,229 $(4,355)$490,506 
Revenue share(1)
207,705 31,937 (4,355)235,287 
Segment profit$133,927 $121,292 $— $255,219 
 
Year Ended March 31, 2024
ODSAGPEliminationConsolidated
Net revenue(1)
$370,112 $178,760 $(4,390)$544,482 
Revenue share(1)
228,296 38,320 (4,390)262,226 
Segment profit$141,816 $140,440 $— $282,256 
______________
(1)     Amounts are presented on an accrual basis.
A reconciliation of total segment profit to total consolidated income (loss) from operations is presented as follows:
Year Ended March 31,
202620252024
Segment profit$321,613 $255,219 $282,256 
Other direct costs of revenue46,971 34,541 34,799 
Product development40,476 39,464 54,157 
Sales and marketing58,000 61,642 61,481 
General and administrative142,124 173,647 169,617 
Impairment of goodwill— — 336,640 
   Income (loss) from operations
$34,042 $(54,075)$(374,438)
The reporting package provided to the Company’s CODM does not include the measure of assets by segment, as that information is not reviewed by the CODM when assessing segment performance or allocating resources.
Geographic Area Information
Long-lived assets, excluding deferred tax assets, by region follow:
March 31,
 20262025
U.S. and Canada$46,489 $40,149 
Europe, Middle East, and Africa2,575 6,751 
Asia Pacific and China47 66 
Consolidated property and equipment, net$49,111 $46,966 
March 31,
20262025
U.S. and Canada$2,096 $2,030 
Europe, Middle East, and Africa5,364 7,877 
Asia Pacific and China279 17 
Consolidated right-of-use asset$7,739 $9,924 
March 31,

20262025
U.S. and Canada$90,347 $108,580 
Europe, Middle East, and Africa123,509 145,253 
Asia Pacific and China3,592 3,864 
Consolidated intangible assets, net$217,448 $257,697 
Net revenue by geography is based on the billing addresses of the Company’s customers and a reconciliation of disaggregated revenue by segment follows:
 
Year Ended March 31, 2026
ODSAGPTotal
U.S. and Canada$134,292 $93,396 $227,688 
Europe, Middle East, and Africa114,532 47,941 162,473 
Asia Pacific and China130,139 44,239 174,378 
Mexico, Central America, and South America3,466 166 3,632 
Elimination— — (2,920)
Consolidated net revenue$382,429 $185,742 $565,251 
 
Year Ended March 31, 2025
ODSAGPTotal
U.S. and Canada$137,704 $94,388 $232,092 
Europe, Middle East, and Africa122,254 40,825 163,079 
Asia Pacific and China77,483 17,996 95,479 
Mexico, Central America, and South America4,191 20 4,211 
Elimination— — (4,355)
Consolidated net revenue$341,632 $153,229 $490,506 
 
Year Ended March 31, 2024
ODSAGPTotal
U.S. and Canada$148,482 $119,979 $268,461 
Europe, Middle East, and Africa171,967 41,374 213,341 
Asia Pacific and China47,562 17,319 64,881 
Mexico, Central America, and South America2,101 88 2,189 
Elimination— — (4,390)
Consolidated net revenue$370,112 $178,760 $544,482