Quarterly report [Sections 13 or 15(d)]

Segment Information

v3.26.1
Segment Information
 3 Months Ended
Jun. 30, 2026
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 (“DSPs”), 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 the performance of the segments and makes resource allocation decisions based on segment net revenue and segment profit. The Company’s CODM regularly reviews the revenue share by segment and treats it as a significant segment expense.
Segment net revenue and revenue share are exclusive of certain activities and expenses that are not allocated to specific segments and are reported on a consolidated basis. In addition, operating expenses are evaluated on a consolidated basis and are not disaggregated or analyzed by segment within the Company’s internal reporting, as shown in the reconciling table below.
A summary of segment information follows:
Three Months Ended June 30, 2026 Three Months Ended June 30, 2025
Net Revenue Revenue Share Segment Profit
Net Revenue
Revenue Share
Segment Profit
ODS $ 109,996  $ 60,131  $ 49,865  $ 95,448  $ 52,694  $ 42,754 
AGP 56,596  11,526  45,070  36,292  6,258  30,034 
Elimination (609) (609) —  (814) (814) — 
Consolidated $ 165,983  $ 71,048  $ 94,935  $ 130,926  $ 58,138  $ 72,788 
Three Months Ended June 30,
2026 2025
Segment profit $ 94,935  $ 72,788 
Other direct costs of revenue 12,964  10,804 
Product development 10,590  10,147 
Sales and marketing 15,333  13,589 
General and administrative 32,987  42,909 
   Income (loss) from operations $ 23,061  $ (4,661)
The reporting package provided to the Company’s CODM does not include the measure of assets by segment, as that information is not reviewed by the CODM when assessing segment performance or allocating resources.
Geographic Area Information
The Company’s segments operate in the following regions: the U.S. and Canada, Europe, the Middle East and Africa (“EMEA”), Asia Pacific and China (“APAC”), and Mexico, Central America and South America (“LATAM”).
Long-lived assets, excluding deferred tax assets, by region follow:
Property and Equipment, Net Right-of-Use Asset Intangible Assets, Net
June 30, 2026 March 31, 2026
June 30, 2026
March 31, 2026
June 30, 2026
March 31, 2026
U.S. and Canada $ 46,196  $ 46,489  $ 3,268  $ 2,096  $ 86,573  $ 90,347 
EMEA 1,930  2,575  4,661  5,364  118,428  123,509 
APAC 47  47  216  279  3,484  3,592 
Total $ 48,173  $ 49,111  $ 8,145  $ 7,739  $ 208,485  $ 217,448 
The Company had no significant long-lived assets in LATAM as of June 30, 2026 and March 31, 2026.
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 June 30, 2026 Three Months Ended June 30, 2025
ODS AGP Consolidated
ODS
AGP
Consolidated
U.S. and Canada
 $ 38,048  $ 24,056  $ 62,104  $ 37,218  $ 16,313  $ 53,531 
EMEA 30,164  13,362  43,526  26,003  11,431  37,434 
APAC 39,642  19,175  58,817  31,051  8,391  39,442 
LATAM 2,142  3  2,145  1,176  157  1,333 
Elimination —  —  (609) —  —  (814)
Total
 $ 109,996  $ 56,596  $ 165,983  $ 95,448  $ 36,292  $ 130,926