Note 4 - Goodwill and Intangible Assets

6 Months Ended

Sep. 30, 2025

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

Note 4 — Goodwill and Intangible Assets

Goodwill

The Company currently has one reporting unit. The following table presents the changes in the carrying amount of goodwill for the six months ended September 30, 2025 (in thousands):

	Goodwill
Balance as of March 31, 2025	$	12,041
Acquisitions		-
Balance as of September 30, 2025	$	12,041

Finite-Lived Intangible Assets

The Company’s finite-lived intangible assets were as follows as of September 30, 2025 (in thousands):

	Gross				Net
	Carrying		Accumulated		Carrying
	Value		Amortization		Value
Content creator relationships	$	3,229	$	2,774	$	455
Brand and trade names		1,010		530		480
Total	$	4,239	$	3,304	$	935

The Company’s finite-lived intangible assets were as follows as of March 31, 2025 (in thousands):

	Gross				Net
	Carrying		Accumulated		Carrying
	Value		Amortization		Value
Content creator relationships	$	3,229	$	2,573	$	656
Brand and trade names		1,010		480		530
Total	$	4,239	$	3,053	$	1,186

The Company's amortization expense on its finite-lived intangible assets was $0.1 million and $0.3 million for the three months ended September 30, 2025 and 2024, respectively.   The Company's amortization expense on its finite-lived intangible assets was $0.3 million and $0.7 million for the six months ended September 30, 2025 and 2024, respectively. The Company recorded an impairment charge of none and $0.2 million for the six months ended September 30, 2025 and 2024, respectively. The impairment for the six months ended September 30, 2024 was the result of the winding down of a podcast show acquired by PodcastOne.

Finder's Fee Agreement

In  September 2023, the Company entered into a finder's fee arrangement pursuant to which the Company agreed to issue shares of its common stock at a price of $8.00 per share (subject to adjustment in certain limited circumstances) as a finder’s fee to a certain third party podcast platform in the event certain former and/or current podcasts of such platform entered into new podcasting agreements with the Company, with the amount of the fee to be based on the amount of revenues actually derived by the Company from such podcasts during a predetermined period. Payments made to such third party attributed to the Company entering into new podcast contracts were capitalized to content creator relationship intangibles. During the year ended  March 31, 2025, the Company made an adjustment of $0.5 million to accrued common stock and decreased the content creator relationships balance to account for the settlement of the finder's fee agreement attributed to multiple third-party platforms.

The Company expects to record amortization of intangible assets for fiscal years ending March 31, 2026 and future fiscal years as follows (in thousands):

For Years Ending March 31,
2026 (remaining six months)	$	330
2027		338
2028		101
2029		101
2030		65
Thereafter		-
	$	935