Annual report pursuant to Section 13 and 15(d)

Segment Information

v3.24.1.1.u2
Segment Information
 12 Months Ended
Mar. 31, 2024
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:
Year ended March 31, 2024
ODS AGP Elimination Consolidated
Net revenue (1)
$ 370,112  $ 178,760  $ (4,390) $ 544,482 
Revenue share (1)
228,296  38,320  (4,390) 262,226 
Segment profit $ 141,816  $ 140,440  $ —  $ 282,256 
(1) Amounts are presented on an accrual basis.
 
Year ended March 31, 2023
ODS AGP Elimination Consolidated
Net revenue (1)
$ 420,328  $ 252,995  $ (7,403) $ 665,920 
Revenue share (1)
247,356  69,294  (7,403) 309,247 
Segment profit $ 172,972  $ 183,701  $ —  $ 356,673 
(1) Amounts are presented on an accrual basis.
 
Year ended March 31, 2022
ODS AGP Elimination Consolidated
Net revenue (1)
$ 502,636  $ 262,336  $ (17,376) $ 747,596 
Revenue share (1)
304,673  83,351  (17,376) 370,648 
Segment profit $ 197,963  $ 178,985  $ —  $ 376,948 
(1) Amounts are presented on an accrual basis.
Geographic Area Information
Long-lived assets, excluding deferred tax assets, by region follow:
  March 31, 2024 March 31, 2023
United States and Canada $ 32,899  $ 25,903 
Europe, Middle East, and Africa 12,809  13,395 
Asia Pacific and China 74  29 
Consolidated property and equipment, net $ 45,782  $ 39,327 
  March 31, 2024 March 31, 2023
United States and Canada $ 4,314  $ 3,530 
Europe, Middle East, and Africa 4,598  6,543 
Asia Pacific and China 215  — 
Consolidated right-of-use assets
 $ 9,127  $ 10,073 
  March 31, 2024 March 31, 2023
United States and Canada $ 133,381  $ 122,377 
Europe, Middle East, and Africa 175,878  252,524 
Asia Pacific and China 4,246  4,731 
Consolidated intangible assets, net $ 313,505  $ 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:
 
Year ended March 31, 2024
ODS AGP Total
United States and Canada $ 148,482  $ 119,979  $ 268,461 
Europe, Middle East, and Africa 171,967  41,374  213,341 
Asia Pacific and China 47,562  17,319  64,881 
Mexico, Central America, and South America 2,101  88  2,189 
Elimination —  —  (4,390)
Consolidated net revenue $ 370,112  $ 178,760  $ 544,482 
 
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