v3.26.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2026
Mar. 31, 2025
Current assets    
Cash and cash equivalents $ 98,533,000 $ 47,374,000
Non-trade receivable 0 2,926,000
Spectrum receivable 10,638,000 7,107,000
Escrow deposits 6,130,000 547,000
Prepaid expenses and other current assets 4,684,000 2,801,000
Total current assets 119,985,000 60,755,000
Escrow deposits 0 7,103,000
Property and equipment, net 827,000 1,302,000
Right of use assets, net 4,069,000 4,829,000
Intangible assets 310,712,000 228,983,000
Deferred broadband costs 29,069,000 28,944,000
Other assets 548,000 1,188,000
Total assets 465,210,000 333,104,000
Current liabilities    
Accounts payable and other accrued expenses 15,028,000 9,075,000
Accrued severance and other related charges 2,810,000 2,265,000
Due to related parties 0 30,000
Operating lease liabilities 1,424,000 1,643,000
Contingent liability 2,220,000 8,093,000
Deferred revenue 14,513,000 6,095,000
Total current liabilities 35,995,000 27,201,000
Operating lease liabilities 2,995,000 3,747,000
Contingent liability 6,000,000 15,336,000
Deferred revenue 146,665,000 118,577,000
Deferred gain on sale of intangible assets 4,911,000 4,911,000
Deferred income tax 6,323,000 6,606,000
Other liabilities 0 125,000
Total liabilities 202,889,000 176,503,000
Commitments and contingencies (See Note 15)
Stockholders’ equity    
Preferred stock, $0.0001 par value per share, 10,000,000 shares authorized and no shares outstanding at March 31, 2026 and March 31, 2025 0 0
Common stock, $0.0001 par value per share, 100,000,000 shares authorized and 18,914,271 shares issued and outstanding at March 31, 2026 and 18,612,804 shares issued and outstanding at March 31, 2025 2,000 2,000
Additional paid-in capital 564,617,000 548,542,000
Accumulated deficit (302,298,000) (391,943,000)
Total stockholders’ equity 262,321,000 156,601,000
Total liabilities and stockholders’ equity $ 465,210,000 $ 333,104,000