Note 3 - Revenue

9 Months Ended

Dec. 31, 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 nine months ended  December 31, 2023 and 2022 (in thousands):

	Three Months Ended				Nine Months Ended
	December 31,				December 31,
	2023		2022		2023		2022
Revenue
Membership Services	$	16,858	$	13,354	$	48,498	$	38,226
Advertising		10,592		8,498		32,108		26,138
Merchandising		3,795		4,825		6,794		8,507
Sponsorship and Licensing		-		76		126		389
Ticket/Event		-		556		15		803
Total Revenue	$	31,245	$	27,309	$	87,541	$	74,063

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 December 31, 2023 and 2022, one customer accounted for 49% and 42% of the Company’s consolidated revenues, respectively. For the nine months ended December 31, 2023 and 2022, one customer accounted for 52% and 43% of the Company’s consolidated revenues, respectively.

The following table summarizes the significant changes in the deferred revenue balances during the nine months ended December 31, 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		188
Balance as of December 31, 2023	$	788