Basis of Presentation and Summary of Significant Accounting Policies (Tables)
|
3 Months Ended |
Jun. 30, 2026 |
|---|
| Accounting Policies [Abstract] |
|
| Schedule of estimated useful lives of property and equipment, net |
Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation expense is recorded using the straight-line method over the estimated useful lives of the respective assets, with useful life ranges by major asset class as follows:
|
|
|
Computer equipment and software |
|
3 - 5 years |
Internal use software |
|
3 - 5 years |
Machinery and equipment |
|
3 - 10 years |
Furniture and fixtures |
|
2 - 7 years |
|
| Schedule of amortization lives of intangible assets |
Amortization expense is recorded using the straight-line method over the estimated useful lives of the respective assets as follows:
|
|
|
Content Library |
|
3 – 20 years |
Tradenames, Trademarks and Patents |
|
2 – 15 years |
Customer Relationships |
` |
5 – 13 years |
Advertiser Relationships and Channel |
|
2 – 13 years |
Preferred Partner Medallions |
|
10 – 12 years |
Software |
|
3 - 10 years |
Capitalized Content |
|
3 years |
|
| Schedule of intangible assets |
The Company’s intangible assets included the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2026 |
|
|
|
Cost Basis |
|
|
Accumulated
Amortization |
|
|
Net |
|
Content Library |
|
$ |
27,595 |
|
|
$ |
(22,809 |
) |
|
$ |
4,786 |
|
Advertiser Relationships and Channel |
|
|
12,844 |
|
|
|
(6,183 |
) |
|
|
6,661 |
|
Customer Relationships |
|
|
17,990 |
|
|
|
(9,285 |
) |
|
|
8,705 |
|
Software |
|
|
12,700 |
|
|
|
(2,392 |
) |
|
|
10,308 |
|
Capitalized Content |
|
|
7,899 |
|
|
|
(3,759 |
) |
|
|
4,140 |
|
Preferred Partner Medallions |
|
|
4,100 |
|
|
|
(205 |
) |
|
|
3,895 |
|
Tradenames, Trademarks and Patents |
|
|
7,089 |
|
|
|
(3,662 |
) |
|
|
3,427 |
|
Total Intangible Assets |
|
$ |
90,217 |
|
|
$ |
(48,295 |
) |
|
$ |
41,922 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of March 31, 2026 |
|
|
|
Cost Basis |
|
|
Accumulated
Amortization |
|
|
Net |
|
Content Library |
|
$ |
27,592 |
|
|
$ |
(22,512 |
) |
|
$ |
5,080 |
|
Advertiser Relationships and Channel |
|
|
12,844 |
|
|
|
(5,839 |
) |
|
|
7,005 |
|
Customer Relationships |
|
|
17,990 |
|
|
|
(8,677 |
) |
|
|
9,313 |
|
Software |
|
|
12,700 |
|
|
|
(1,837 |
) |
|
|
10,863 |
|
Capitalized Content |
|
|
7,405 |
|
|
|
(3,101 |
) |
|
|
4,304 |
|
Preferred Partner Medallions |
|
|
4,100 |
|
|
|
(103 |
) |
|
|
3,997 |
|
Tradenames, Trademarks and Patents |
|
|
7,086 |
|
|
|
(3,534 |
) |
|
|
3,552 |
|
Total Intangible Assets |
|
$ |
89,717 |
|
|
$ |
(45,603 |
) |
|
$ |
44,114 |
|
|
| Schedule of amortization expense for intangible assets |
As of June 30, 2026, amortization expense is expected to be (in thousands):
|
|
|
|
|
|
|
Total |
|
In-process intangible assets |
|
$ |
895 |
|
Remainder of fiscal year 2027 |
|
|
3,976 |
|
2028 |
|
|
4,188 |
|
2029 |
|
|
2,450 |
|
2030 |
|
|
1,419 |
|
2031 |
|
|
1,354 |
|
Thereafter |
|
|
27,640 |
|
Total |
|
$ |
41,922 |
|
|
| Schedule of accounts payable and accrued expenses |
Accounts payable and accrued expenses consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
As of |
|
|
|
June 30,
2026 |
|
|
March 31,
2026 |
|
Accrued acquisition related liabilities |
|
$ |
9,203 |
|
|
$ |
14,912 |
|
Accounts payable |
|
|
15,961 |
|
|
|
7,324 |
|
Amounts due to producers |
|
|
9,913 |
|
|
|
9,328 |
|
Accrued compensation and benefits |
|
|
3,709 |
|
|
|
1,781 |
|
Accrued other expenses |
|
|
4,162 |
|
|
|
6,006 |
|
Total Accounts Payable and Accrued Expenses |
|
$ |
42,948 |
|
|
$ |
39,351 |
|
|
| Schedule of revenue disaggregation |
The following tables present the Company’s disaggregated revenue by source (in thousands):
|
|
|
|
|
|
|
|
|
Three Months Ended
June 30, |
|
|
2026 |
|
|
2025 |
|
Advertising technology and services |
$ |
15,949 |
|
|
$ |
— |
|
Streaming and digital |
|
9,748 |
|
|
|
9,104 |
|
Media services |
|
3,481 |
|
|
|
— |
|
Podcast and other |
|
1,097 |
|
|
|
989 |
|
Base distribution |
|
320 |
|
|
|
1,024 |
|
Other non-recurring |
|
— |
|
|
|
2 |
|
Total Revenue |
$ |
30,595 |
|
|
$ |
11,119 |
|
|
| Summary of Allowances of Credit Losses |
A summary of the movements of our allowances for credit losses as of June 30, 2026 (in thousands):
|
|
|
|
|
Allowance for credit losses at the beginning of the year |
|
$ |
622 |
|
Increase in estimated provision |
|
|
35 |
|
Allowance for credit losses as of June 30, 2026 |
|
$ |
657 |
|
|
| Schedule of fair value measurements of our financial assets and liabilities |
The table below summarizes the levels of fair value measurements of the Company’s financial assets and liabilities as of June 30, 2026 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2026 |
|
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
Deferred consideration, current portion |
|
|
— |
|
|
|
— |
|
|
|
14,200 |
|
|
|
14,200 |
|
Earnout consideration, both current and non-current portion |
|
|
— |
|
|
|
— |
|
|
|
10,600 |
|
|
|
10,600 |
|
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
24,800 |
|
|
$ |
24,800 |
|
As of March 31, 2026 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of March 31, 2026 |
|
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
Deferred consideration |
|
|
— |
|
|
|
— |
|
|
|
12,200 |
|
|
|
12,200 |
|
Earnout consideration |
|
|
— |
|
|
|
— |
|
|
|
11,250 |
|
|
|
11,250 |
|
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
23,450 |
|
|
$ |
23,450 |
|
|