Quarterly report [Sections 13 or 15(d)]

Goodwill and Intangible Assets

v3.25.2
Goodwill and Intangible Assets
 3 Months Ended
Jun. 30, 2025
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, 2025
 $ 80,176  $ 141,565  $ 221,741 
Foreign currency translation $ —  $ 2,195  $ 2,195 
Goodwill as of June 30, 2025
 $ 80,176  $ 143,760  $ 223,936 

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 three months ended June 30, 2025, no occurrence of events or circumstances 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 year ended March 31, 2025, the Company sustained a decline in its forecasted operating trends, which was identified as a potential indicator of impairment for the Company’s AGP reporting unit. As a result, the Company performed a quantitative goodwill impairment evaluation over its reporting units ODS and AGP to determine if their respective fair values were below their carrying values. Based on the evaluation, the Company determined that neither reporting unit was impaired, and no impairment of goodwill was recognized for either the ODS or AGP reporting unit during the fiscal year 2025.
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 months ended June 30, 2025 or the fiscal year ended March 31, 2025.
The components of intangible assets were as follows as of the periods indicated:
 
As of June 30, 2025
Weighted-Average Remaining Useful Life Cost Accumulated Amortization Net
Customer relationships 11.05 years $ 138,492  $ (41,900) $ 96,592 
Developed technology 3.10 years 145,744  (84,080) 61,664 
Trade names 0.08 years 70,242  (68,706) 1,536 
Publisher relationships 15.64 years 109,839  (23,287) 86,552 
Total $ 464,317  $ (217,973) $ 246,344 
 
As of March 31, 2025
Weighted-Average Remaining Useful Life Cost Accumulated Amortization Net
Customer relationships 11.29 years $ 137,094  $ (39,153) $ 97,941 
Developed technology 3.34 years 144,948  (78,526) 66,422 
Trade names 0.33 years 69,966  (63,844) 6,122 
Publisher relationships 15.89 years 108,879  (21,667) 87,212 
Total $ 460,887  $ (203,190) $ 257,697 
The Company recorded amortization expense of $13,451 during the three months ended June 30, 2025, and $15,204 during the three months ended June 30, 2024, in general and administrative expenses on the condensed consolidated statements of operations and comprehensive (loss) income.
During the year ended March 31, 2025, certain fully amortized intangible assets of approximately $31,000 were eliminated from gross intangible assets and accumulated amortization, with no corresponding impact to the income statement.
Estimated amortization expense in future fiscal years is expected to be:
Fiscal year 2026 $ 28,169 
Fiscal year 2027 35,510 
Fiscal year 2028 35,510 
Fiscal year 2029 18,528 
Fiscal year 2030 14,710 
Thereafter 113,917 
Total $ 246,344