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| June 30, 2023 | March 31, 2023 | ||||||||||
| ASSETS | |||||||||||
| Current Assets | |||||||||||
| Cash and cash equivalents | $ | 29,033 | $ | 43,182 | |||||||
| Prepaid expenses and other current assets | 14,803 | 16,277 | |||||||||
| Total current assets | 43,836 | 59,459 | |||||||||
| Property and equipment, net | 2,541 | 3,606 | |||||||||
| Right of use assets, net | 3,088 | 3,371 | |||||||||
| Intangible assets | 215,795 | 202,044 | |||||||||
| Other assets | 14,068 | 10,078 | |||||||||
| Total assets | $ | 279,328 | $ | 278,558 | |||||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||
| Current liabilities | |||||||||||
| Accounts payable and accrued expenses | $ | 7,793 | $ | 6,624 | |||||||
| Due to related parties | — | 533 | |||||||||
| Operating lease liabilities | 1,662 | 1,725 | |||||||||
| Contingent liability | 20,249 | 20,249 | |||||||||
| Deferred revenue | 2,896 | 2,769 | |||||||||
| Total current liabilities | 32,600 | 31,900 | |||||||||
| Operating lease liabilities | 2,597 | 2,922 | |||||||||
| Deferred revenue | 57,255 | 57,990 | |||||||||
| Deferred income tax | 5,168 | 5,440 | |||||||||
| Other liabilities | 513 | 513 | |||||||||
| Total liabilities | 98,133 | 98,765 | |||||||||
| Commitments and contingencies | |||||||||||
| Stockholders’ equity | |||||||||||
Preferred stock, $0.0001 par value per share, 10,000,000 shares authorized and no shares outstanding at June 30, 2023 and March 31, 2023 | — | — | |||||||||
Common stock, $0.0001 par value per share, 100,000,000 shares authorized and 19,047,159 shares issued and outstanding at June 30, 2023 and 18,921,999 shares issued and outstanding at March 31, 2023 | 2 | 2 | |||||||||
| Additional paid-in capital | 521,680 | 518,160 | |||||||||
| Accumulated deficit | (340,487) | (338,369) | |||||||||
| Total stockholders’ equity | 181,195 | 179,793 | |||||||||
| Total liabilities and stockholders’ equity | $ | 279,328 | $ | 278,558 | |||||||
| Three months ended June 30, | |||||||||||
| 2023 | 2022 | ||||||||||
| Spectrum revenues | $ | 608 | $ | 335 | |||||||
| Operating expenses | |||||||||||
| General and administrative | 11,673 | 11,359 | |||||||||
| Sales and support | 1,275 | 1,236 | |||||||||
| Product development | 1,069 | 1,096 | |||||||||
| Depreciation and amortization | 246 | 362 | |||||||||
| Operating expenses | 14,263 | 14,053 | |||||||||
| Gain from disposal of intangible assets, net | (10,785) | (648) | |||||||||
| (Gain) loss from disposal of long-lived assets, net | (31) | 2 | |||||||||
| Loss from operations | (2,839) | (13,072) | |||||||||
| Interest income | 386 | 17 | |||||||||
| Other income | 95 | 59 | |||||||||
| Loss before income taxes | (2,358) | (12,996) | |||||||||
| Income tax (benefit) expense | (240) | 200 | |||||||||
| Net loss | $ | (2,118) | $ | (13,196) | |||||||
| Net loss per common share basic and diluted | $ | (0.11) | $ | (0.71) | |||||||
| Weighted-average common shares used to compute basic and diluted net loss per share | 18,951,046 | 18,619,459 | |||||||||
| Three months ended June 30, | |||||||||||
| 2023 | 2022 | ||||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | |||||||||||
| Net loss | $ | (2,118) | $ | (13,196) | |||||||
| Adjustments to reconcile net loss to net cash used in operating activities | |||||||||||
| Depreciation and amortization | 246 | 362 | |||||||||
| Non-cash compensation expense attributable to stock awards | 4,265 | 4,128 | |||||||||
| Deferred income taxes | (272) | 200 | |||||||||
| Gain from disposal of intangible assets, net | (10,785) | (648) | |||||||||
| (Gain) loss on disposal of long-lived assets, net | (31) | 2 | |||||||||
| Changes in operating assets and liabilities | |||||||||||
| Prepaid expenses and other assets | 563 | 1,180 | |||||||||
| Right of use assets | 283 | 238 | |||||||||
| Accounts payable and accrued expenses | 1,169 | (1,460) | |||||||||
| Due to related parties | (533) | 24 | |||||||||
| Operating lease liabilities | (388) | (327) | |||||||||
| Deferred revenue | (608) | (335) | |||||||||
| Net cash used in operating activities | (8,209) | (9,832) | |||||||||
| CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||||
| Purchases of intangible assets, including refundable deposits | (5,170) | (6,650) | |||||||||
| Purchases of equipment | (25) | (6) | |||||||||
| Net cash used in investing activities | (5,195) | (6,656) | |||||||||
| CASH FLOWS FROM FINANCING ACTIVITIES | |||||||||||
| Proceeds from stock option exercises | 7 | 872 | |||||||||
| Repurchase of common stock | — | (2,725) | |||||||||
| Payments of withholding tax on net issuance of restricted stock | (752) | (827) | |||||||||
| Net cash used in financing activities | (745) | (2,680) | |||||||||
| Net change in cash and cash equivalents | (14,149) | (19,168) | |||||||||
| CASH AND CASH EQUIVALENTS | |||||||||||
| Beginning of the period | 43,182 | 105,624 | |||||||||
| End of the period | $ | 29,033 | $ | 86,456 | |||||||
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | |||||||||||
| Cash paid during the period: | |||||||||||
| Taxes paid | $ | 1 | $ | — | |||||||
| Non-cash investing activity: | |||||||||||
| Network equipment provided in exchange for wireless licenses | $ | 438 | $ | 4 | |||||||
