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INTANGIBLE ASSETS AND GOODWILL
 12 Months Ended
Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS AND GOODWILL INTANGIBLE ASSETS AND GOODWILL
The Company capitalizes costs for software to be sold, marketed, or leased to customers. Costs incurred internally in researching and developing software products are charged to expense until technological feasibility has been established for the product. Once technological feasibility is established, software costs are capitalized until the product is available for general release to customers. Judgment is required in determining when technological feasibility of a product is established. The amortization of these costs is included in cost of revenue over the estimated life of the products.
The following table summarizes identifiable intangible assets of the Company as of March 31, 2025 and March 31, 2026 (in thousands):

March 31, 2026Useful Lives (In Years)Gross Carrying AmountAccumulated AmortizationNet Carrying Amount
Definite-lived:
Customer relationships
9 - 13
$213,107 $(40,868)$172,239 
Trademark and tradename
3 - 15
23,637 (8,291)15,346 
Patents
7 - 11
2,128 (961)1,167 
Technology
3 - 5
85,187 (36,165)49,022 
Software to be sold or leased
3 - 5
22,875 (5,296)17,579 
346,934 (91,581)255,353 
Indefinite-lived:
Customer list104 — 104 
Trademark and tradename61 — 61 
165 — 165 
Total$347,099 $(91,581)$255,518 

March 31, 2025Useful Lives (In Years)Gross Carrying AmountAccumulated AmortizationNet Carrying Amount
Definite-lived:
Customer relationships
9 - 13
$200,868 $(21,994)$178,874 
Trademark and tradename
3 - 15
21,557 (5,805)15,752 
Patents
7 - 11
628 (553)75 
Technology
5 - 7
74,050 (21,705)52,345 
Software to be sold or leased
3 - 7
13,490 (2,119)11,371 
310,593 (52,176)258,417 
Indefinite-lived:
Customer list104 — 104 
Trademark and tradename61 — 61 
165 — 165 
Total$310,758 $(52,176)$258,582 

At March 31, 2026, the weighted-average remaining amortization periods for customer relationships, trademarks and tradenames, patents, technology, and capitalized software to be sold or leased were 10.2, 9.8, 3.0, 2.8, and 2.8 years, respectively.

Amortization expense for the year ended December 31, 2023, the three months ended March 31, 2024, and the years ended March 31, 2025 and 2026 was $5,569, $988, $27,619 and $37,001, respectively.
Estimated future amortization expense for each of the five succeeding fiscal years for these intangible assets is as follows:

Years ending March 31,
2027$47,232 
202840,746 
202931,234 
203024,228 
203118,940 
Thereafter92,973 
$255,353 

Reconciliation of Total Goodwill

The following table is a reconciliation of the carrying amount of goodwill at the beginning and end of the reporting period (in thousands):

Goodwill
Balance at March 31, 2024
$83,487 
Businesses acquired
MiX Combination216,799 
FC Acquisition82,245 
Foreign currency translation difference
615 
Balance at March 31, 2025
383,146 
Businesses acquired
Powerfleet Africa Sky552 
RTS Acquisition5,637 
Foreign currency translation difference22,660 
Balance at March 31, 2026$411,995 

Refer to Note 3 for additional information regarding the change in the carrying amount of goodwill from April 1, 2024 to March 31, 2026 as a result of the FC Acquisition and RTS Acquisition.

Goodwill is tested at the reporting unit level, which is defined as an operating segment or one level below the operating segment. The Company operates with one operating segment, which is its only reporting unit and aligns with its only reportable segment. For the year ended December 31, 2023, the three months ended March 31, 2024, and the years ended March 31, 2025 and 2026, the Company did not incur an impairment charge.