Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.22.2.2
Segment Information
 6 Months Ended
Sep. 30, 2022
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.
As of March 31, 2022, the Company operated through three operating segments, each of which was a reportable segment. The three segments were On Device Media (“ODM”), In-App Media - AdColony (“IAM-A”), and In-App Media-Fyber (“IAM-F”). Effective April 1, 2022, the Company made certain changes to its organizational and management structure that resulted in the following: (1) the renaming of the On Device Media segment to On Device Solutions and (2) the integration of IAM-A and IAM-F into a single segment. The integration of IAM-A and IAM-F was completed to drive operating efficiencies and revenue synergies. As a result of the integration of IAM-A and IAM-F, the Company reassessed its operating and reportable segments in accordance with ASC 280, Segment Reporting. Effective April 1, 2022, 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”) - The Company re-named the ODM segment On Device Solutions to better reflect the nature of the segment's product offerings. This segment generates revenue from the delivery of mobile application media or content to end users. This segment provides focused solutions to all participants in the mobile application ecosystem that want to connect with end users and consumers who hold the device, including 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”) - This segment consists of the previously reported IAM-A and IAM-F segments. 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, 2022
ODS AGP Eliminations Consolidated
Net revenue $ 108,466  $ 68,256  $ (1,863) $ 174,859 
License fees and revenue share 59,786  18,958  (1,863) 76,881 
Segment profit $ 48,680  $ 49,298  $ —  $ 97,978 
  Three months ended September 30, 2021
ODS AGP Eliminations Consolidated
Net revenue $ 129,449  $ 64,177  $ (5,058) $ 188,568 
License fees and revenue share 75,587  20,979  (5,058) 91,508 
Segment profit $ 53,862  $ 43,198  $ —  $ 97,060 
Six months ended September 30, 2022
ODS AGP Eliminations Consolidated
Net revenue $ 227,103  $ 140,622  $ (4,233) $ 363,492 
License fees and revenue share 128,236  40,245  (4,233) 164,248 
Segment profit $ 98,867  $ 100,377  $ —  $ 199,244 
  Six months ended September 30, 2021
ODS AGP Eliminations Consolidated
Net revenue $ 249,832  $ 103,651  $ (6,840) $ 346,643 
License fees and revenue share 145,618  36,538  (6,840) 175,316 
Segment profit $ 104,214  $ 67,113  $ —  $ 171,327 
Geographic Area Information
Long-lived assets, excluding deferred tax assets and intangible assets, by region follow:
  September 30, 2022 March 31, 2022
United States and Canada $ 26,049  $ 25,946 
Europe, Middle East, and Africa 10,809  5,086 
Asia Pacific and China 33  54 
Mexico, Central America, and South America —  — 
Consolidated property and equipment, net $ 36,891  $ 31,086 
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, 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 
  Three months ended September 30, 2021
ODS AGP Total
United States and Canada $ 75,100  $ 30,262  $ 105,362 
Europe, Middle East, and Africa 30,591  26,321  56,912 
Asia Pacific and China 17,969  6,835  24,804 
Mexico, Central America, and South America 5,789  759  6,548 
Elimination —  —  (5,058)
Consolidated net revenue $ 129,449  $ 64,177  $ 188,568 
  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 
  Six months ended September 30, 2021
ODS AGP Total
United States and Canada $ 146,231  $ 50,872  $ 197,103 
Europe, Middle East, and Africa 60,651  39,960  100,611 
Asia Pacific and China 34,759  11,543  46,302 
Mexico, Central America, and South America 8,191  1,276  9,467 
Elimination —  —  (6,840)
Consolidated net revenue $ 249,832  $ 103,651  $ 346,643