Discontinued Operations (Tables)

6 Months Ended

Sep. 30, 2021

Discontinued Operations and Disposal Groups [Abstract]

Summary of major classes of assets and liabilities held for sale

The related assets and liabilities of the Agriculture and Weather Analytics business were reclassified to assets of discontinued operations and liabilities of discontinued operations, respectively, as of March 31, 2021 on the unaudited condensed consolidated balance sheets. The following table is a summary of major classes of assets and liabilities of discontinued operations:

	March 31, 2021
Assets
Right-of-use assets	78
Total noncurrent assets of discontinued operations	78
Total assets of discontinued operations	$	78
Liabilities
Current Lease Liabilities	94
Total current liabilities of discontinued operations	94
Long Term Lease liabilities	261
Total liabilities of discontinued operations	$	355

The results of operations for the Agriculture and Weather Analytics business were included in net income (loss) from discontinued operations on the Company's unaudited condensed consolidated statements of operations. The following table provides information regarding the results of discontinued operations:

	Three Months Ended September 30,				Six Months Ended September 30,
	2021		2020		2021		2020
Service revenue	$	—	$	—	$	—	$	695
Cost of service revenues	—		—		—		349
Gross profit	—		—		—		346
Operating expenses:
General and administrative	69		230		119		746
Research and development	—		—		—		407
Restructuring charges	—		—		—		837
Total operating expenses	69		230		119		1,990
Operating loss from discontinued operations	(69)		(230)		(119)		(1,644)
Other income, net	11		(29)		43		27
Loss from discontinued operation before income tax	(58)		(259)		(76)		(1,617)
Income tax (benefit) expense	—		(47)		—		(47)
Net Loss from discontinued operations	(58)		(306)		(76)		(1,664)
Gain on disposal of discontinued operations before income tax	—		—		—		11,315
Income tax benefit on gain on disposal	—		—		—		(27)
Gain on disposal of discontinued operations after income tax	—		—		—		11,288
Net income (loss) from discontinued operations	$	(58)	$	(306)	$	(76)	$	9,624

The following table provides information on the gain recorded on the sale of the Agriculture and Weather Analytics business for the three and six month periods ended September 30, 2020. These amounts reflect the closing balance sheet of the Agriculture and Weather Analytics business upon the closing of the sale on May 5, 2020 (in thousands).

Initial proceeds from sale, net of transaction costs	$	9,440
Closing working capital adjustment	250
Deferred payments of purchase price	1,500
Total consideration, net of transaction costs	11,190
Trade accounts receivable, net of allowance for doubtful accounts	1,060
Unbilled accounts receivable	488
Other classes of assets that are not major	194
Total Agriculture and Weather Analytics business assets	1,742
Trade accounts payable	349
Deferred revenue	1,518
Total Agriculture and Weather Analytics business liabilities	1,867
Gain on sale of Agriculture and Weather Analytics business	$	11,315