Goodwill and Intangible Assets

9 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Note 8. Goodwill and Intangible Assets

The acquired goodwill represents the value of combining operations of Amplex and the Company.

The change in the carrying amount of goodwill for the nine months ended December 31, 2024 was as follows:

(In thousands)	Gross Carrying Amount		Additions		Impairment		Net Book Value
Goodwill	$	-	$	10,434	$	-		10,434
	$	-	$	10,434	$	-	$	10,434

The changes in intangible assets for the nine months ended December 31, 2024 consists of the following:

(In thousands)	Weighted Average Remaining Amortization Period		Gross Carrying Amount		Additions		Impairment		Accumulated Amortization			Net Book Value
Definite lived intangible assets:
Subscriber relationships		13.47	$	-	$	7,300	$	-	$	(283	)	$	7,017
Trade name		20.44		-		3,000		-		(77	)		2,923
Internally developed software		4.46		-		250		-		(27	)		223
				-		10,550		-		(387	)		10,163
Indefinite lived intangible assets:
CBRS FCC license				-		580		-		-			580
				-		580		-		-			580
			$	-	$	11,130	$	-	$	(387	)	$	10,743

Amortization expense totaled $179 thousand and $387 thousand for the three and nine months ended December 31, 2024, respectively. Amortization expense totaled $4 thousand for the three and nine months ended December 31, 2023. Amortization expense is included in depreciation and amortization in the condensed consolidated statements of operations.

As of December 31, 2024, the future expected amortization expense for intangible assets is as follows:

(In thousands)
Remainder of FY 2025	$	179
FY 2026		714
FY 2027		714
FY 2028		714
FY 2029		714
Thereafter		7,129
Total	$	10,164