Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

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Intangible Assets
 9 Months Ended
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Intangible Assets
The components of intangible assets at December 31, 2020 and March 31, 2020 were as follows:
  As of December 31, 2020
(Unaudited)
Cost Accumulated Amortization Net
Developed technology $ 7,926  $ (6,101) $ 1,825 
Customer relationships 46,971  (6,925) 40,046 
Total $ 54,897  $ (13,026) $ 41,871 
  As of March 31, 2020
Cost Accumulated Amortization Net
Developed technology $ 7,926  $ (5,861) $ 2,065 
Customer relationships 46,971  (5,154) 41,817 
Total $ 54,897  $ (11,015) $ 43,882 
The Company recorded amortization expense of $670 and $2,011, respectively, during the three and nine months ended December 31, 2020 and $0 during the three and nine months ended December 31, 2019. Amortization expense for the three and nine months ended December 31, 2020 is a component of general and administrative operating expenses in the Consolidated Statements of Operations and Comprehensive Income / (Loss). The determination of the expense category for amortization of intangible assets is determined by capitalization under ASC 350, Intangibles - Goodwill and Other, or ASC 985-20, Costs of Software to be Sold, Leased, or Otherwise Marketed. ASC 350 leads to accounting for amortization of intangible assets under operating expenses, while ASC 985-20 leads to accounting for amortization of intangible assets under other direct costs of revenues.
Based on the amortizable intangible assets as of December 31, 2020, the Company expects future amortization expense to be approximately $2,681 per year over the next five fiscal years and $28,465 in residual expense thereafter.