Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.24.0.1
Segment Information
 9 Months Ended
Dec. 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. 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:
Three months ended December 31, 2023
ODS AGP Eliminations Consolidated
Net revenue $ 94,298  $ 49,181  $ (845) $ 142,634 
Revenue share
 60,276  10,933  (845) 70,364 
Segment profit $ 34,022  $ 38,248  $ —  $ 72,270 
  Three months ended December 31, 2022
ODS AGP Eliminations Consolidated
Net revenue $ 96,316  $ 67,407  $ (1,413) $ 162,310 
Revenue share
 57,555  17,228  (1,413) 73,370 
Segment profit $ 38,761  $ 50,179  $ —  $ 88,940 
Nine months ended December 31, 2023
ODS AGP Eliminations Consolidated
Net revenue $ 291,608  $ 144,323  $ (3,672) $ 432,259 
Revenue share
 179,554  32,793  (3,672) 208,675 
Segment profit $ 112,054  $ 111,530  $ —  $ 223,584 
  Nine months ended December 31, 2022
ODS AGP Eliminations Consolidated
Net revenue $ 323,419  $ 208,029  $ (5,646) $ 525,802 
Revenue share
 185,791  57,473  (5,646) 237,618 
Segment profit $ 137,628  $ 150,556  $ —  $ 288,184 
Geographic Area Information
Long-lived assets, excluding deferred tax assets, by region follow:
  December 31, 2023 March 31, 2023
United States and Canada $ 30,128  $ 25,903 
Europe, Middle East, and Africa 13,394  13,395 
Asia Pacific and China 76  29 
Consolidated property and equipment, net $ 43,598  $ 39,327 
  December 31, 2023 March 31, 2023
United States and Canada $ 139,588  $ 122,377 
Europe, Middle East, and Africa 186,493  252,524 
Asia Pacific and China 4,450  4,731 
Consolidated intangible assets, net $ 330,531  $ 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:
  Three months ended December 31, 2023
ODS AGP Total
United States and Canada $ 37,927  $ 33,671  $ 71,598 
Europe, Middle East, and Africa 42,947  11,290  54,237 
Asia Pacific and China 12,823  4,201  17,024 
Mexico, Central America, and South America 601  19  620 
Elimination —  —  (845)
Consolidated net revenue $ 94,298  $ 49,181  $ 142,634 
  Three months ended December 31, 2022
ODS AGP Total
United States and Canada $ 38,949  $ 29,911  $ 68,860 
Europe, Middle East, and Africa 42,321  26,449  68,770 
Asia Pacific and China 12,975  10,564  23,539 
Mexico, Central America, and South America 2,071  483  2,554 
Elimination —  —  (1,413)
Consolidated net revenue $ 96,316  $ 67,407  $ 162,310 
  Nine months ended December 31, 2023
ODS AGP Total
United States and Canada $ 117,044  $ 96,844  $ 213,888 
Europe, Middle East, and Africa 137,317  33,808  171,125 
Asia Pacific and China 35,480  13,588  49,068 
Mexico, Central America, and South America 1,767  83  1,850 
Elimination —  —  (3,672)
Consolidated net revenue $ 291,608  $ 144,323  $ 432,259 
  Nine months ended December 31, 2022
ODS AGP Total
United States and Canada $ 152,890  $ 115,957  $ 268,847 
Europe, Middle East, and Africa 125,463  68,118  193,581 
Asia Pacific and China 39,989  22,837  62,826 
Mexico, Central America, and South America 5,077  1,117  6,194 
Elimination —  —  (5,646)
Consolidated net revenue $ 323,419  $ 208,029  $ 525,802