Note 3 - Revenue

6 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

Note 3 — Revenue

The following table represents a disaggregation of revenue from contracts with customers for the three and six months ended  September 30, 2023 and 2022 (in thousands):

	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
Revenue
Membership Services	$	16,428	$	12,788	$	31,640	$	24,872
Advertising		10,732		8,698		21,516		17,640
Merchandising		1,259		1,834		2,999		3,682
Sponsorship and Licensing		97		199		126		313
Ticket/Event		12		13		14		248
Total Revenue	$	28,528	$	23,532	$	56,295	$	46,755

For some contracts, the Company may invoice up front for services recognized over time or for contracts in which the Company has unsatisfied performance obligations. Payment terms and conditions vary by contract type, although terms generally cover monthly payments. In the circumstances where the timing of invoicing differs from the timing of revenue recognition, the Company has determined its contracts do not include a significant financing component. The Company has elected to apply the practical expedient under ASC 606-10-50-14 and not provide disclosure of the amount and timing of performance obligations as the performance obligations are part of a contract that has an original expected duration of one year or less.

For the three months ended September 30, 2023 and 2022, one customer accounted for 51% and 45% of the Company’s consolidated revenues, respectively. For the six months ended September 30, 2023 and 2022, one customer accounted for 52% and 44% of the Company’s consolidated revenues, respectively.

The following table summarizes the significant changes in the deferred revenue balances during the six months ended September 30, 2023 (in thousands):

	Deferred
	Revenue
Balance as of March 31, 2023	$	992
Revenue recognized that was included in the contract liability at beginning of period		(392	)
Increase due to cash received, excluding amounts recognized as revenue during the period		280
Balance as of September 30, 2023	$	880