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Goodwill and Intangible Assets
 3 Months Ended
Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

Note 6 — Goodwill and Intangible Assets

 

Goodwill

 

The Company currently has one reporting unit. The following table presents the changes in the carrying amount of goodwill for the three months ended June 30, 2022 (in thousands):

 

   Goodwill 
Balance as of March 31, 2022  $23,379 
Acquisitions   
-
 
Balance as of June 30, 2022  $23,379 

 

Indefinite-Lived Intangible Assets

 

The following table presents the changes in the carrying amount of indefinite-lived intangible assets in the Company’s reportable segment for the three months ended June 30, 2022 (in thousands):

 

   Tradenames 
Balance as of March 31, 2022  $4,637 
Acquisitions   
-
 
Impairment losses   
-
 
Balance as of June 30, 2022  $4,637 

 

Finite-Lived Intangible Assets

 

The Company’s finite-lived intangible assets were as follows as of June 30, 2022 (in thousands):

 

   Gross
Carrying
Value		   Accumulated
Amortization		   Net
Carrying
Value		 
Software  $19,281   $17,353   $1,928 
Intellectual property (patents)   5,366    1,610    3,756 
Customer relationships   6,570    6,308    262 
Content creator relationships   772    772    - 
Domain names   527    101    426 
Brand and trade names   2,643    506    2,137 
Non-compete agreement   250    201    49 
Customer lists   2,998    872    2,126 
Total  $38,406   $27,722   $10,684 

 

The Company’s finite-lived intangible assets were as follows as of March 31, 2022 (in thousands):

 

   Gross
Carrying
Value		   Accumulated
Amortization		   Net
Carrying
Value		 
Software  $19,281   $16,389   $2,892 
Intellectual property (patents)   5,366    1,520    3,846 
Customer relationships   6,570    6,177    393 
Content creator relationships   772    772    - 
Domain names   514    83    431 
Brand and trade names   2,643    454    2,189 
Non-compete agreement   250    181    69 
Customer lists   2,998    735    2,263 
Total  $38,394   $26,311   $12,083 

 

The Company’s amortization expense on its finite-lived intangible assets was $1.4 million and $1.5 million for the three months ended June 30, 2022 and 2021, respectively.

 

The Company expects to record amortization of intangible assets for fiscal years ending March 31, 2023 and future fiscal years as follows (in thousands):

  

For Years Ending March 31,    
2023 (remaining nine months)  $3,136 
2024   1,074 
2025   1,074 
2026   1,074 
2027   1,074 
Thereafter   3,252 
   $10,684