Annual report pursuant to Section 13 and 15(d)

Segment Information

v3.23.1
Segment Information
 12 Months Ended
Mar. 31, 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.
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 called App Growth Platform (“AGP”). 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:
Year ended March 31, 2023
ODS AGP Elimination Consolidated
Net revenue $ 420,328  $ 252,995  $ (7,403) $ 665,920 
License fees and revenue share 247,356  69,294  (7,403) 309,247 
Segment profit $ 172,972  $ 183,701  $ —  $ 356,673 
 
Year ended March 31, 2022
ODS AGP Elimination Consolidated
Net revenue $ 502,636  $ 262,336  $ (17,376) $ 747,596 
License fees and revenue share 304,673  83,351  (17,376) 370,648 
Segment profit $ 197,963  $ 178,985  $ —  $ 376,948 
 
Year ended March 31, 2021
ODS AGP Elimination Consolidated
Net revenue $ 313,579  $ —  $ —  $ 313,579 
License fees and revenue share 178,649  —  —  178,649 
Segment profit $ 134,930  $ —  $ —  $ 134,930 
Geographic Area Information
Long-lived assets, excluding deferred tax assets, by region follow:
  March 31, 2023 March 31, 2022
United States and Canada $ 25,903  $ 25,946 
Europe, Middle East, and Africa 13,395  5,086 
Asia Pacific and China 29  54 
Mexico, Central America, and South America —  — 
Consolidated property and equipment, net $ 39,327  $ 31,086 
  March 31, 2023 March 31, 2022
United States and Canada $ 122,377  $ 144,319 
Europe, Middle East, and Africa 252,524  291,222 
Asia Pacific and China 4,731  5,048 
Mexico, Central America, and South America —  — 
Consolidated intangible assets, net $ 379,632  $ 440,589 
Net revenue by geography is based on the billing addresses of the Company’s customers and a reconciliation of disaggregated revenue by segment follows:
 
Year ended March 31, 2023
ODS AGP Total
United States and Canada $ 188,023  $ 142,522  $ 330,545 
Europe, Middle East, and Africa 170,585  80,464  251,049 
Asia Pacific and China 55,140  28,776  83,916 
Mexico, Central America, and South America 6,580  1,233  7,813 
Elimination —  —  (7,403)
Consolidated net revenue $ 420,328  $ 252,995  $ 665,920 
 
Year ended March 31, 2022
ODS AGP Total
United States and Canada $ 285,062  $ 132,170  $ 417,232 
Europe, Middle East, and Africa 132,040  99,413  231,453 
Asia Pacific and China 72,245  27,882  100,127 
Mexico, Central America, and South America 13,289  2,871  16,160 
Elimination —  —  (17,376)
Consolidated net revenue $ 502,636  $ 262,336  $ 747,596 
 
Year ended March 31, 2021
ODS AGP Total
United States and Canada $ 193,804  $ —  $ 193,804 
Europe, Middle East, and Africa 79,752  —  79,752 
Asia Pacific and China 34,774  —  34,774 
Mexico, Central America, and South America 5,249  —  5,249 
Elimination —  —  — 
Consolidated net revenue $ 313,579  $ —  $ 313,579