Discontinued Operations (Tables)

12 Months Ended

Mar. 31, 2022

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 and liabilities of discontinued operations as of March 31, 2022 and March 31, 2021 on the accompanying consolidated balance sheets. The following table is a summary of major classes of assets and liabilities of discontinued operations:

	March 31, 2022		March 31, 2021
	(In thousands)
Assets
Trade accounts receivable, net of allowance for doubtful accounts	$	—	$	—
Unbilled accounts receivable	—		—
Prepaid expenses and other current assets	—		—
Total current assets of discontinued operations	—		—
Property and equipment, net	$	—	—
Right-of-use assets	6		78
Other classes of assets that are not major	—		—
Total noncurrent assets of discontinued operations	6		78
Total assets of discontinued operations	$	6	$	78
Liabilities
Trade accounts payable	$	—	$	—
Accrued liabilities	—		—
Accrued payroll and related expenses	63		—
Deferred revenue	—		—
Current Lease Liabilities	100		94
Total current liabilities of discontinued operations	163		94
Noncurrent Lease liabilities	172		261
Total liabilities of discontinued operations	$	335	$	355

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

	Year Ended March 31,
	2022		2021		2020
Service revenue	$	—	$	695	$	6,714
Cost of service revenues	—		350		2,566
Gross profit	—		345		4,148
Operating expenses:
Selling, general and administration	180		780		3,718
Research and development	—		407		4,282
Restructuring charges	—		837		—
Total operating expenses	180		2,024		8,000
Operating loss from discontinued operations	(180)		(1,679)		(3,852)
Other income, net	—		72		—
Loss from discontinued operation before income tax	(180)		(1,607)		(3,852)
Income tax expense			(47)		—
Net loss from discontinued operations	(180)		(1,654)		(3,852)
Gain on disposal of discontinued operations before income tax	—		11,315		—
Income tax expense on gain on disposal	—		(18)		—
Gain on disposal of discontinued operations after income tax	—		11,297		—
Net income (loss) from discontinued operations	$	(180)	$	9,643	$	(3,852)

The following table provides information on the gain recorded on the sale of the Agriculture and Weather Analytics business for the year ended March 31, 2021. 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