Income Taxes (Tables)
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12 Months Ended |
Mar. 31, 2021 |
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| Income Tax Disclosure [Abstract] |
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| Schedule of Provision (Benefit) for Income Taxes |
The provision / (benefit) for income taxes by taxing jurisdiction was as follows:
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Year ended March 31, |
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2021 |
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2020 |
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2019 |
| Current state and local |
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$ |
204 |
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$ |
182 |
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|
$ |
— |
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| Current non-U.S. |
|
38 |
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(55) |
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|
(63) |
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| Total current |
|
242 |
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|
127 |
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(63) |
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| Deferred U.S. federal |
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(13,185) |
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(7,928) |
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— |
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| Deferred state and local |
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(204) |
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(2,624) |
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— |
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| Deferred non-U.S. |
|
120 |
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|
50 |
|
|
532 |
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| Total deferred |
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(13,269) |
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(10,502) |
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|
532 |
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| Total income tax provision / (benefit) |
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$ |
(13,027) |
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|
$ |
(10,375) |
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|
$ |
469 |
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| Reconciliation of Income Tax Expense Between Statutory U S Income Tax Rate With Actual Income Tax Provision |
A reconciliation of income tax expense using the statutory U.S. income tax rate compared with the actual income tax provision follows:
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Year ended March 31, |
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2021 |
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2020 |
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2019 |
| Statutory federal income taxes |
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$ |
8,819 |
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|
$ |
741 |
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$ |
(1,163) |
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| State income taxes, net of federal benefit |
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(1,284) |
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|
144 |
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— |
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| Non-deductible expenses |
|
926 |
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|
272 |
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|
1,097 |
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| Change in warrant liability |
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— |
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|
2,012 |
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|
1,024 |
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| Change in Mobile Posse earn-out |
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3,238 |
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— |
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— |
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| Excess deductions for stock compensation |
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(16,523) |
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(1,384) |
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(47) |
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| Change in uncertain tax liability |
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591 |
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|
32 |
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(5) |
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| Change in valuation allowance |
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(11,223) |
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(12,262) |
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(2,422) |
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| Return-to-provision adjustments |
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2,243 |
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— |
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|
2,411 |
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| Other miscellaneous |
|
186 |
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|
70 |
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|
(426) |
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| Income tax provision / (benefit) |
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$ |
(13,027) |
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|
$ |
(10,375) |
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|
$ |
469 |
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Fiscal year 2020 and 2019 amounts recast for immaterial differences to match reported financial statements.
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| Deferred Tax Assets and Liabilities |
Deferred tax assets and liabilities consist of the following:
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Year ended March 31, |
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2021 |
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2020 |
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2019 |
| Deferred income tax assets |
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| Net operating loss carry-forward |
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$ |
25,630 |
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$ |
21,913 |
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$ |
23,471 |
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| Stock-based compensation |
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1,675 |
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3,775 |
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3,996 |
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| Other |
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3,887 |
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|
2,284 |
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|
1,228 |
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| Gross deferred income tax assets |
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31,192
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|
27,972
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|
28,695
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| Valuation allowance |
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(5,287) |
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(15,977) |
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(27,972) |
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| Net deferred income tax assets |
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25,905
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|
11,995
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|
723
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| Deferred income tax liabilities |
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|
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| Depreciation and amortization |
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(2,627) |
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(1,648) |
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(678) |
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| Intangibles and goodwill |
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(10,315) |
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(10,356) |
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— |
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| Other |
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— |
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— |
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(5) |
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| Net deferred income tax assets / (liabilities) |
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$ |
12,963
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|
$ |
(9) |
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$ |
40
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Fiscal year 2020 amounts recast for immaterial differences to match reported financial statements.
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| Schedule of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits |
A reconciliation of the beginning and ending amounts of unrecognized tax benefits for the years ended March 31, 2021, 2020, and 2019 is as follows:
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2021 |
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2020 |
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2019 |
| Balance at April 1 |
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$ |
787 |
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$ |
788 |
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|
$ |
838 |
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| Additions for tax position of prior years |
|
585 |
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— |
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— |
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| Reductions for tax positions of prior years |
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— |
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(1) |
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(50) |
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| Balance at March 31 |
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$ |
1,372 |
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$ |
787 |
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$ |
788 |
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