Segment Information

12 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

SEGMENT INFORMATION

7. SEGMENT INFORMATION

We operate in two reportable segments: Cinema Equipment and Content & Entertainment. Our segments were determined based on the economic characteristics of our products and services, our internal organizational structure, the manner in which our operations are managed and the criteria used by our Chief Operating Decision Maker ("CODM") to evaluate performance, which is generally the segment’s operating income (loss) before depreciation and amortization.

Operations of:

Products and services provided:

Cinema Equipment

Financing vehicles and administrators for Systems installed nationwide in our first deployment phase (“Phase I Deployment”) to theatrical exhibitors and for Systems installed domestically and internationally in our second deployment phase (“Phase II Deployment”). We retain ownership of the Systems and the residual cash flows related to the Systems in Phase I Deployment after the repayment of all non-recourse debt at the expiration of exhibitor master license agreements. For certain Phase II Deployment Systems, we do not retain ownership of the residual cash flows and digital cinema equipment after the completion of cost recoupment and at the expiration of the exhibitor master license agreements. Provides monitoring, collection, verification, and management services to this segment, as well as to exhibitors who purchase their own equipment, and also collects and disburses VPFs from motion picture studios, distributors and ACFs from alternative content providers, movie exhibitors and theatrical exhibitors (collectively, “Services”).

Content & Entertainment Leading independent streaming company of content and channels. We collaborate with producers and other content owners to market, source, curate and distribute independent content to targeted and under-served audiences in theatres and homes, and via mobile and emerging platforms.

The following tables present certain financial information related to our reportable segments and Corporate (in thousands):

	As of March 31, 2023
	Intangible Assets, net		Goodwill		Total Assets		Line of Credit, Net		Operating Lease Liabilities
Cinema Equipment	$	—	$	—	$	6,928	$	—	$	—
Content & Entertainment		19,644		20,824		73,587		—		1,281
Corporate		224		—		7,472		4,924		—
Total	$	19,868	$	20,824	$	87,988	$	4,924	$	1,281

	As of March 31, 2022
	Intangible Assets, net		Goodwill		Total Assets		Line of Credit, Net		Operating Lease Liabilities
Cinema Equipment	$	—	$	—	$	24,445	$	—	$	—
Content & Entertainment		19,946		21,084		68,873		—		—
Corporate		88		—		11,318		—		749
Total	$	20,034	$	21,084	$	104,636	$	—	$	749

	Statements of Operations
	For the Year Ended March 31, 2023
	Cinema Equipment		Content & Entertainment			Corporate			Consolidated
Revenues	$	12,049	$	55,978		$	—		$	68,026
Direct operating		411		35,953			—			36,364
Selling, general and administrative		2,645		15,073			19,101			36,819
Allocation of corporate overhead		374		10,093			(10,467	)		—
Depreciation and amortization		326		3,429			8			3,763
Total operating expenses		3,756		64,548			8,642			76,946
Operating income (loss)	$	8,293	$	(8,570	)	$	(8,642	)	$	(8,920	)

	Statements of Operations
	For the Year Ended March 31, 2022
	Cinema Equipment		Content & Entertainment			Corporate			Consolidated
Revenues	$	18,159	$	37,895		$	—		$	56,054
Direct operating		687		20,207			—			20,894
Selling, general and administrative		1,405		13,935			14,211			29,551
Depreciation and amortization		1,160		3,401			5			4,566
Impairment of intangible assets		—		1,968			—			1,968
Allocation of corporate overhead		560		3,752			(4,312	)		—
Total operating expenses		3,812		43,263			9,904			56,979
Operating income (loss)	$	14,347	$	(5,368	)	$	(9,904	)	$	(925	)

For the year ended March 31, 2023, stock-based compensation cost of $4,470 was incurred by the Corporate segment. For the year ended March 31, 2022, stock based compensation costs of $1,034 thousand was incurred by the Content & Entertainment segment and $4,453 thousand was incurred by Corporate.