Acquisitions (Tables)

12 Months Ended

Mar. 31, 2021

Business Combinations [Abstract]

Summary of Final Fair Values of Assets Acquired and Liabilities Assumed

The fair values of the assets acquired and liabilities assumed at the date of acquisition are as follows:

Assets
Cash	$	4,613
Accounts receivable	10,864
Other current assets	422
Property, plant, and equipment	2,041
Right-of-use asset	2,379
Developed technology	1,600
Customer relationships	42,500
Goodwill	27,267
Other non current assets	1,473
Total Assets	$	93,159
Liabilities
Accounts payable	$	499
Accrued license fees and revenue share	6,847
Accrued compensation	180
Other current liabilities	827
Non-current deferred tax liability	10,854
Other non-current liabilities	3,469
Total Liabilities	$	22,676

Due to the proximity of the Acquisition to our fiscal year ended March 31, 2021, the fair values of the assets acquired and liabilities assumed at the date of acquisition are presented on a preliminary basis and are as follows:

Assets
Cash	$	2,152
Accounts receivable	2,400
Other current assets	53
Property, plant, and equipment	17
Developed technology	8,200
Customer relationships	2,300
Trade Names	1,700
Goodwill	9,431
Total Assets	$	26,253
Liabilities
Accounts payable	$	5,271
Accrued license fees and revenue share	365
Accrued compensation	282
Other current liabilities	332
Total Liabilities	$	6,250
Total Consideration	$	20,003

Amortization Period for Intangible Assets Acquired

The amortization period for the intangible assets acquired in the transaction are as follows:

Intangible Asset	Remaining Useful Life
Developed technology	5 years
Customer relationships	18 years
Goodwill	Indefinite

The amortization period for the intangible assets acquired in the transaction are as follows:

Intangible Asset	Remaining Useful Life
Developed technology	10 years
Customer relationships	15 years
Trade names	10 years
Goodwill	Indefinite

Schedule of Pro Forma Information

The operating results of Mobile Posse, Inc. which are included in the accompanying Consolidated Statements of Operations and Comprehensive Income / (Loss) from the acquisition date to March 31, 2020, are as follows:

	Unaudited
Revenues	$	4,817
Costs of revenues	2,512
Operating expenses	1,290
Net income	$	1,015

Unaudited pro forma combined financial statements are presented below for informational purposes only. The unaudited pro forma combined statements of operations for the twelve months ended March 31, 2020 and March 31, 2019 for the Company, and the period from April 3, 2018 through March 31, 2019 for Mobile Posse, combine the historical consolidated statements of operations of the Company and Mobile Posse, giving effect to the acquisition as if it had been consummated on April 3, 2018, the beginning of the earliest period presented.

Following are the unaudited pro forma results as if the acquisition of Mobile Posse had occurred as of April 1, 2018.

	Year ended March 31,
	2020		2019
	Unaudited		Unaudited
	(in thousands, except per share amounts)
Net revenues	$	190,920	$	162,956
Net income	$	18,347	$	(1,387)
Basic net income / (loss) per common share	$	0.22	$	(0.02)
Diluted net income / (loss) per common share	$	0.20	$	(0.02)

The operating results of Appreciate, which are included in the accompanying Consolidated Statements of Operations and Comprehensive Income / (Loss) from the acquisition date to March 31, 2021, are as follows:

	Unaudited
Revenues	$	1,230
Costs of revenues and operating expenses	1,139
Net income	$	91