Financials

v3.7.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2017
Mar. 31, 2016
Mar. 31, 2015
Mar. 31, 2014
Current assets        
Cash $ 6,149 $ 11,231 $ 7,069 $ 21,805
Restricted cash 331 0    
Accounts receivable, net of allowances of $597 and $464, respectively 16,554 17,519    
Deposits 121 213    
Prepaid expenses and other current assets 510 583    
Total current assets 23,665 29,546    
Property and equipment, net 2,377 1,784 614  
Cost method investment 0 999    
Deferred tax assets 352 500    
Intangible assets, net 4,565 12,490 24,936 9,074
Goodwill 76,621 76,621 76,747 4,837
TOTAL ASSETS 107,580 121,940    
Current liabilities        
Accounts payable 19,868 15,300    
Accrued license fees and revenue share 8,529 9,622    
Accrued compensation 1,073 1,353    
Short-term debt, net of debt issuance costs and discounts of $0 and $568, respectively 0 10,432    
Other current liabilities 1,304 2,147    
Total current liabilities 30,774 38,854    
Convertible notes, net of debt issuance costs and discounts of $6,315 and $0, respectively 9,685 0    
Other non-current liabilities 782 815    
Total liabilities 45,535 39,669    
Stockholders' equity        
Preferred stock 100 100    
Common stock 8 8    
Additional paid-in capital 299,580 295,423    
Treasury stock (754,599 shares at March 31, 2017 and 2016) (71) (71)    
Accumulated other comprehensive loss (321) (202)    
Accumulated deficit (237,251) (212,987)    
Total stockholders' equity 62,045 82,271 $ 91,529 $ 32,951
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 107,580 121,940    
Convertible note embedded derivative liability        
Current liabilities        
Derivative liability 3,218 0    
Warrant liability        
Current liabilities        
Derivative liability $ 1,076 $ 0    

Source

v3.7.0.1
Consolidated Statements of Operations and Comprehensive Income / (Loss) - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Mar. 31, 2015
Income Statement [Abstract]      
Net revenues $ 91,553 $ 86,541 $ 28,252
Cost of revenues      
License fees and revenue share 70,252 66,185 20,110
Other direct cost of revenues 7,938 10,537 2,010
Total cost of revenues 78,190 76,722 22,120
Gross profit 13,363 9,819 6,132
Operating expenses      
Product development 12,035 10,983 7,905
Sales and marketing 6,537 6,067 2,933
General and administrative 16,811 18,705 19,031
Total operating expenses 35,383 35,755 29,869
Loss from operations (22,020) (25,936) (23,737)
Interest and other income / (expense), net      
Interest expense, net (2,628) (1,816) (234)
Foreign exchange transaction gain / (loss) (88) (29) 32
Change in fair value of convertible note embedded derivative liability 475 0 0
Change in fair value of warrant liability 147 0  
Loss on extinguishment of debt (293) 0 (9)
Loss on extinguishment of debt (293) 0 0
Gain / (loss) on disposal of fixed assets 0 (37) 2
Other income / (expense) (1) 0 46
Total interest and other income / (expense), net (2,388) (1,882) (163)
Loss from operations before income taxes (24,408) (27,818) (23,900)
Income tax provision (144) 214 747
Net loss (24,264) (28,032) (24,647)
Other comprehensive income / (loss)      
Foreign currency translation adjustment (119) (150) 147
Comprehensive loss $ (24,383) $ (28,182) $ (24,500)
Basic and diluted net loss per common share ($ per share) $ (0.36) $ (0.46) $ (0.63)
Weighted average common shares outstanding, basic and diluted (in shares) 66,511 61,763 38,967

Source

v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities      
Net loss $ (24,264) $ (28,032) $ (24,647)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 8,170 10,974 2,108
Change in allowance for doubtful accounts 133 (234) 698
Amortization of debt discount and debt issuance costs 1,256 470 34
Accrued interest 36 12 77
Stock-based compensation 3,748 5,095 5,850
Restricted shares and warrants compensation for services rendered 398 867 490
Change in fair value of convertible note embedded derivative liability (475) 0 0
Change in fair value of warrant liability (147) 0 0
Loss on extinguishment of debt 293 0 0
Impairment of intangible assets 757 0 0
Stock issued for settlement of liability 0 283 0
(Increase) / decrease in assets:      
Restricted cash transferred to / (from) operating cash (331) 200 0
Accounts receivable 833 (5,111) (406)
Deposits 92 (104) (63)
Deferred tax assets 148 (418) 3,156
Prepaid expenses and other current assets 73 57 (142)
Increase / (decrease) in liabilities:      
Accounts payable 4,568 7,308 (379)
Accrued license fees and revenue share (1,093) 2,789 2,988
Accrued compensation (280) (831) 325
Other current liabilities (879) (394) (4,589)
Other non-current liabilities (31) 0 0
Net cash used in operating activities (6,995) (7,069) (14,500)
Cash flows from investing activities      
Capital expenditures (1,595) (1,549) (67)
Settlement of contingent liability 0 0 (49)
Cash used in acquisition of assets 0 0 (2,125)
Proceeds from sale of cost method investment in Sift 999 0 0
Net cash proceeds from cost method investment in Sift 0 875 0
Cash acquired with acquisition of subsidiary 0 0 1,363
Net cash used in investing activities (596) (674) (878)
Cash flows from financing activities      
Cash received from issuance of convertible notes 16,000 0 0
Repayment of debt obligations (11,000) (600) 0
Payment of debt issuance costs (2,383) 0 0
Options exercised 11 51 136
Warrants exercised 0 0 375
Stock issued for cash in stock offering, net 0 12,627 0
Net cash provided in financing activities 2,628 12,078 511
Effect of exchange rate changes on cash (119) (173) 131
Net change in cash (5,082) 4,162 (14,736)
Cash, beginning of period 11,231 7,069 21,805
Cash, end of period 6,149 11,231 7,069
Interest paid 1,406 1,011 0
Common stock of the Company issued for acquisition of subsidiary 0 0 75,035
Cashless exercise of warrants to purchase common stock of the Company $ 0 $ 566 $ 0

Source

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