Investment in equity securities

12 Months Ended

Mar. 31, 2020

Investments, All Other Investments [Abstract]

Investment in equity securities

Investment in equity securities

On April 14, 2017, the Company invested $2.9 million in a social media analytics company, which is included in investments on its consolidated balance sheets. The Company has elected the measurement alternative for equity investments that do not have readily determinable fair values. The Company did not record an impairment charge on its investment during the years ended March 31, 2020, December 31, 2018 or 2017, or the transition period for the three months ended March 31, 2019, as any identified events or changes in circumstances did not result in an indicator for impairment. Further, there were no observable price changes in orderly transactions for the identical or a similar investment of the same issuer during the years ended March 31, 2020, December 31, 2018 or 2017, or the transition period for the three months ended March 31, 2019.