Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.23.3
Segment Information
 6 Months Ended
Sep. 30, 2023
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 demand side platforms, 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 segment performance and makes resource allocation decisions primarily based on segment net revenue and segment profit, as shown in the segment information summary table below. The Company’s CODM does not allocate other direct costs of revenue, operating expenses, interest and other income (expense), net, or provision for income taxes to these segments for the purpose of evaluating segment performance. Additionally, the Company does not allocate assets to segments for internal reporting purposes as the CODM does not manage the Company’s segments by such metrics.
A summary of segment information follows:
Three months ended September 30, 2023
ODS AGP Eliminations Consolidated
Net revenue $ 99,060  $ 46,183  $ (1,984) $ 143,259 
Revenue share
 60,980  9,723  (1,984) 68,719 
Segment profit $ 38,080  $ 36,460  $ —  $ 74,540 
  Three months ended September 30, 2022
ODS AGP Eliminations Consolidated
Net revenue $ 108,466  $ 68,256  $ (1,863) $ 174,859 
Revenue share
 59,786  18,958  (1,863) 76,881 
Segment profit $ 48,680  $ 49,298  $ —  $ 97,978 
Six months ended September 30, 2023
ODS AGP Eliminations Consolidated
Net revenue $ 197,310  $ 95,142  $ (2,827) $ 289,625 
Revenue share
 119,278  21,860  (2,827) 138,311 
Segment profit $ 78,032  $ 73,282  $ —  $ 151,314 
  Six months ended September 30, 2022
ODS AGP Eliminations Consolidated
Net revenue $ 227,103  $ 140,622  $ (4,233) $ 363,492 
Revenue share
 128,236  40,245  (4,233) 164,248 
Segment profit $ 98,867  $ 100,377  $ —  $ 199,244 
Geographic Area Information
Long-lived assets, excluding deferred tax assets, by region follow:
  September 30, 2023 March 31, 2023
United States and Canada $ 30,030  $ 25,903 
Europe, Middle East, and Africa 14,827  13,395 
Asia Pacific and China 74  29 
Consolidated property and equipment, net $ 44,931  $ 39,327 
  September 30, 2023 March 31, 2023
United States and Canada $ 145,795  $ 122,377 
Europe, Middle East, and Africa 195,192  252,524 
Asia Pacific and China 4,405  4,731 
Consolidated intangible assets, net $ 345,392  $ 379,632 
Net revenue by geography is based on the billing addresses of the Company’s customers and a reconciliation of disaggregated revenue by segment follows:
  Three months ended September 30, 2023
ODS AGP Total
United States and Canada $ 40,176  $ 32,256  $ 72,432 
Europe, Middle East, and Africa 48,348  8,966  57,314 
Asia Pacific and China 10,114  4,940  15,054 
Mexico, Central America, and South America 422  21  443 
Elimination —  —  (1,984)
Consolidated net revenue $ 99,060  $ 46,183  $ 143,259 
  Three months ended September 30, 2022
ODS AGP Total
United States and Canada $ 50,978  $ 39,808  $ 90,786 
Europe, Middle East, and Africa 42,598  22,254  64,852 
Asia Pacific and China 13,140  6,149  19,289 
Mexico, Central America, and South America 1,750  45  1,795 
Elimination —  —  (1,863)
Consolidated net revenue $ 108,466  $ 68,256  $ 174,859 
  Six months ended September 30, 2023
ODS AGP Total
United States and Canada $ 79,117  $ 63,173  $ 142,290 
Europe, Middle East, and Africa 94,370  22,518  116,888 
Asia Pacific and China 22,657  9,387  32,044 
Mexico, Central America, and South America 1,166  64  1,230 
Elimination —  —  (2,827)
Consolidated net revenue $ 197,310  $ 95,142  $ 289,625 
  Six months ended September 30, 2022
ODS AGP Total
United States and Canada $ 113,941  $ 86,046  $ 199,987 
Europe, Middle East, and Africa 83,142  41,669  124,811 
Asia Pacific and China 27,014  12,273  39,287 
Mexico, Central America, and South America 3,006  634  3,640 
Elimination —  —  (4,233)
Consolidated net revenue $ 227,103  $ 140,622  $ 363,492