Goodwill and Intangible Assets

6 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Goodwill

Changes in the carrying amount of goodwill by segment follows:

	ODS		AGP		Total
Goodwill as of March 31, 2024	$	80,176	$	139,896	$	220,072
Impairment of goodwill	—		—		—
Foreign currency translation	$	—	$	987	$	987
Goodwill as of September 30, 2024	$	80,176	$	140,883	$	221,059

The Company evaluates goodwill for impairment at least annually or upon the occurrence of events or circumstances that indicate they would more likely than not reduce the fair value of a reporting unit below its carrying value.

During the six months ended September 30, 2024, no occurrence of event or circumstance indicated they would more likely than not reduce the fair value of a reporting unit below its carrying value. As such, no impairment of goodwill was recognized during the period.

During the three months ended September 30, 2023, as a result of sustained decline in the quoted market price of the Company’s common stock, increase in interest rates, and the Company’s forecasted operating trends, the Company identified interim indicators of impairment related to the goodwill assigned to the AGP reporting unit. The Company completed an interim impairment assessment of its goodwill, and as a result of this review, recorded a $147,181 non-deductible, non-cash goodwill impairment charge for the AGP reporting unit as of September 30, 2023.

The Company subsequently performed its annual goodwill impairment evaluation as of March 31, 2024, noting continued trends in quoted market price, interest rates, and the Company’s forecast. The Company completed its annual impairment assessment of goodwill, and as a result, recorded an additional $189,459 non-deductible, non-cash goodwill impairment charge for a total of $336,640 to the AGP reporting unit during the twelve months ended March 31, 2024.

There was no impairment of goodwill for the ODS reporting unit during the fiscal year ended March 31, 2024.

Intangible Assets

The components of intangible assets were as follows as of the periods indicated:

	As of September 30, 2024
	Weighted-Average Remaining Useful Life	Cost		Accumulated Amortization		Net
Customer relationships	11.75 years	$	138,057	$	(34,778)	$	103,279
Developed technology	3.82 years	146,852		(69,961)		76,891
Trade names	0.83 years	70,072		(54,742)		15,330
Publisher relationships	16.37 years	109,265		(18,917)		90,348
Total		$	464,246	$	(178,398)	$	285,848

	As of March 31, 2024
	Weighted-Average Remaining Useful Life	Cost		Accumulated Amortization		Net
Customer relationships	12.04 years	$	168,349	$	(59,222)	$	109,127
Developed technology	4.31 years	146,524		(59,470)		87,054
Trade names	1.33 years	69,957		(45,470)		24,487
Publisher relationships	16.86 years	108,860		(16,023)		92,837
Total		$	493,690	$	(180,185)	$	313,505

The Company recorded amortization expense of $13,505 and $28,709, respectively, during the three and six months ended September 30, 2024, and $16,157 and $32,346, respectively, during the three and six months ended September 30, 2023, in general and administrative expenses on the condensed consolidated statements of operations and comprehensive (loss) income.

Estimated amortization expense in future fiscal years is expected to be:

Fiscal year 2025	$	27,020
Fiscal year 2026	41,510
Fiscal year 2027	35,378
Fiscal year 2028	35,378
Fiscal year 2029	18,454
Thereafter	128,108
Total	$	285,848