Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

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Goodwill and Intangible Assets
 9 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill
Changes in the carrying amount of goodwill by segment follows:
ODS AGP Total
Goodwill as of March 31, 2024
 $ 80,176  $ 139,896  $ 220,072 
Purchase of One Store International —  1,991  1,991 
Impairment of goodwill —  —  — 
Foreign currency translation $ —  $ (983) $ (983)
Goodwill as of December 31, 2024
 $ 80,176  $ 140,904  $ 221,080 

The Company evaluates goodwill for impairment at least annually or upon the occurrence of events or circumstances that indicate they would more likely than not reduce the fair value of a reporting unit below its carrying value.
During the nine months ended December 31, 2024, no occurrence of event or circumstance indicated they would more likely than not reduce the fair value of a reporting unit below its carrying value. As such, no impairment of goodwill was recognized during the period.

During the three months ended September 30, 2023, as a result of sustained decline in the quoted market price of the Company’s common stock, increase in interest rates, and the Company’s forecasted operating trends, the Company identified interim indicators of impairment related to the goodwill assigned to the AGP reporting unit. The Company completed an interim impairment assessment of its goodwill, and as a result of this review, recorded a $147,181 non-deductible, non-cash goodwill impairment charge for the AGP reporting unit as of September 30, 2023.

The Company subsequently performed its annual goodwill impairment evaluation as of March 31, 2024, noting continued trends in quoted market price, interest rates, and the Company’s forecast. The Company completed its annual impairment assessment of goodwill, and as a result, recorded an additional $189,459 non-deductible, non-cash goodwill impairment charge for a total of $336,640 to the AGP reporting unit during the fiscal year ended March 31, 2024.

There was no impairment of goodwill for the ODS reporting unit during the fiscal year ended March 31, 2024.
Intangible Assets
Finite-lived intangible assets have been assigned an estimated finite useful life and are amortized on a straight-line basis over the number of years that approximate their respective useful lives. The Company evaluates intangible assets other than goodwill for impairment at least annually or upon the occurrence of events or circumstances that indicate the carrying value of an asset may not be recoverable. In determining whether an impairment exists, the Company considers factors such as changes in the use of the asset, changes in the legal or business environment, and current or historical operating or cash flow losses. Based on the analysis performed, no impairment was identified during the three and nine months ended December 31, 2024 or the fiscal year ended March 31, 2024.
The components of intangible assets were as follows as of the periods indicated:
 
As of December 31, 2024
Weighted-Average Remaining Useful Life Cost Accumulated Amortization Net
Customer relationships 11.53 years $ 136,628  $ (36,713) $ 99,915 
Developed technology 3.58 years 146,179  (74,796) 71,383 
Trade names 0.58 years 69,839  (59,144) 10,695 
Publisher relationships 16.13 years 108,443  (20,174) 88,269 
Total $ 461,089  $ (190,827) $ 270,262 
 
As of March 31, 2024
Weighted-Average Remaining Useful Life Cost Accumulated Amortization Net
Customer relationships 12.04 years $ 168,349  $ (59,222) $ 109,127 
Developed technology 4.31 years 146,524  (59,470) 87,054 
Trade names 1.33 years 69,957  (45,470) 24,487 
Publisher relationships 16.86 years 108,860  (16,023) 92,837 
Total $ 493,690  $ (180,185) $ 313,505 
The Company recorded amortization expense of $13,474 and $42,183, respectively, during the three and nine months ended December 31, 2024, and $15,936 and $48,282, respectively, during the three and nine months ended December 31, 2023, in general and administrative expenses on the condensed consolidated statements of operations and comprehensive (loss) income.
Estimated amortization expense in future fiscal years is expected to be:
Fiscal year 2025 $ 13,420 
Fiscal year 2026 41,245 
Fiscal year 2027 35,134 
Fiscal year 2028 35,134 
Fiscal year 2029 18,290 
Thereafter 127,039 
Total $ 270,262