v3.26.1
Intangible and Other Assets, Net
 12 Months Ended
Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible and Other Assets, Net
(6) Intangible and Other Assets, Net

Intangible assets and other assets, net consisted of the following (in thousands):

Useful LifeGross ValueAccumulated AmortizationNet Carrying ValueWeighted Average Remaining Useful Life (Years)
March 31, 2026
Intangible Assets
Toll-free telephone numberIndefinite$375 $— $375 Indefinite
Internet domain namesIndefinite485 — 485 Indefinite
Trade Names - PetCareRxIndefinite800 — 800 Indefinite
Customer Relationships -PetCareRx7 years6,700 (2,871)3,829 4
Developed Technology - PetCareRx3 years3,000 (3,000)— 0
$11,360 $(5,871)$5,489 
Other Assets
Minority interest investment in VetsterN/A5,300 — 5,300 N/A
Balance March 31, 2026$16,660 $(5,871)$10,789 
March 31, 2025
Intangible Assets
Toll-free telephone numberIndefinite$375 $— $375 Indefinite
Internet domain namesIndefinite485 — 485 Indefinite
Trade Names - PetCareRxIndefinite1,400 — 1,400 Indefinite
Customer Relationships -PetCareRx7 years6,700 (1,914)4,786 5
Developed Technology - PetCareRx3 years3,000 (2,000)1,000 1
Balance March 31, 2025$11,960 $(3,914)$8,046 
Other Assets
Minority interest investment in VetsterN/A$5,300 $— $5,300 N/A
Balance March 31, 2025$17,260 $(3,914)$13,346 

Amortization expense for intangible assets was $2.0 million, $2.0 million and $2.0 million for the twelve months ended March 31, 2026, 2025 and 2024, respectively.

The indefinite life intangibles are not being amortized and are subject to an annual review for impairment, or more frequently if circumstances indicate an impairment may have occurred, in accordance with the ASC Topic 350, Goodwill and Other Intangible Assets. The Company recognized non-cash impairment charges of $0.6 million, $1.2 million and $0 as of March 31, 2026, 2025 and 2024, respectively, which is reflected in "Impairment of goodwill and intangible assets" on the Consolidated Statements of Operations.

Estimated amortization expense of intangible assets during the next five fiscal years is as follows:

Year Ending March 31,
(in thousands)
2027957 
2028957 
2029957 
2030958 
2031— 
In April 2022, the Company purchased a 5% minority interest in Vetster Inc. (“Vetster”), a Canadian veterinary telehealth company, in the amount of $5.0 million and received warrants for additional equity in Vetster, which are tied to future performance milestones. In October 2023, the Company purchased additional shares in Vetster in the amount of $0.3 million. This increased the minority interest investment to $5.3 million. Following this round, the Company’s minority ownership changed to approximately 4.8% of Vetster’s outstanding shares. The minority interest investment is being valued on the cost basis and the investment will be evaluated periodically for any impairment. At March 31, 2026 and 2025, we evaluated the investment in accordance with ASC Topic 321, Accounting for Equity Interests and determined it was not impaired.
Additionally, in April 2022, the Company engaged in a three-year partnership agreement with Vetster. Under the terms of the agreement, the Company became the exclusive pet products e-commerce provider for Vetster and Vetster became the exclusive provider of telehealth and telemedicine services to the Company. While the initial contract was terminated in February 2025, the Company and Vetster continued to work on a non-exclusive basis under similar terms through March 31, 2026.
Under the terms of the agreement, Vetster earned from 10% to 20% of revenue generated from its customers on orders fulfilled by the Company. For the years ended March 31, 2026, 2025, and 2024 the Company earned approximately $0.6 million, $1.5 million, and $0.8 million in net sales for orders placed through Vetster and incurred fees to Vetster of approximately $0.1 million, $0.3 million, and $0.2 million, respectively.