Financials

v3.6.0.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2016
Mar. 31, 2016
Dec. 31, 2015
Mar. 31, 2015
Current assets        
Cash and cash equivalents $ 5,705 $ 11,231 $ 13,679 $ 7,069
Restricted cash 323 0    
Accounts receivable, net of allowances of $594 and $464, respectively 19,266 17,519    
Deposits 130 213    
Prepaid expenses and other current assets 553 583    
Total current assets 25,977 29,546    
Property and equipment, net 2,480 1,784    
Cost method investment 0 999    
Deferred tax assets 288 500    
Intangible assets, net 6,850 12,490    
Goodwill 76,621 76,621    
TOTAL ASSETS 112,216 121,940    
Current liabilities        
Accounts payable 19,809 15,300    
Accrued license fees and revenue share 8,910 9,622    
Accrued compensation 1,112 1,353    
Short-term debt, net of debt issuance costs and discounts of $0 and $568, respectively 0 10,432    
Other current liabilities 1,626 2,147    
Total current liabilities 31,457 38,854    
Convertible notes, net of debt issuance costs and discounts of $6,540 and $0, respectively 9,460 0    
Other non-current liabilities 1,097 815    
Total liabilities 43,710 39,669    
Stockholders' equity        
Preferred stock 100 100    
Common stock 8 8    
Additional paid-in capital 299,045 295,423    
Treasury stock (754,599 shares at December 31, 2016 and March 31, 2016) (71) (71)    
Accumulated other comprehensive loss (250) (202)    
Accumulated deficit (230,326) (212,987)    
Total stockholders' equity 68,506 82,271    
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 112,216 121,940    
Convertible note embedded derivative liability        
Current liabilities        
Derivative liability 1,270 0    
Warrant liability        
Current liabilities        
Derivative liability $ 426 $ 0    

Source

v3.6.0.2
Consolidated Statements of Operations and Comprehensive Loss - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Income Statement [Abstract]        
Net revenues $ 22,285 $ 24,089 $ 69,156 $ 63,509
Cost of revenues        
License fees and revenue share 17,039 18,569 54,060 48,889
Other direct cost of revenues 1,878 1,704 5,640 8,453
Total cost of revenues 18,917 20,273 59,700 57,342
Gross profit 3,368 3,816 9,456 6,167
Operating expenses        
Product development 3,113 2,738 9,065 7,898
Sales and marketing 1,683 1,676 4,655 4,426
General and administrative 3,982 4,667 13,902 14,403
Total operating expenses 8,778 9,081 27,622 26,727
Loss from operations (5,410) (5,265) (18,166) (20,560)
Interest and other income / (expense), net        
Interest expense, net (725) (471) (2,029) (1,367)
Foreign exchange transaction loss (9) (8) (13) (20)
Change in fair value of convertible note embedded derivative liability 2,853 0 2,423 0
Change in fair value of warrant liability 937   797 0
Loss on extinguishment of debt 0 0 (293) 0
Loss on disposal of fixed assets 0 (8) 0 (31)
Other income / (expense) 68 (8) 101 20
Total interest and other income / (expense), net 3,124 (495) 986 (1,398)
Loss from operations before income taxes (2,286) (5,760) (17,180) (21,958)
Income tax provision / (benefit) 300 3 159 246
Net loss (2,586) (5,763) (17,339) (22,204)
Other comprehensive income / (loss)        
Foreign currency translation adjustment 5 (65) (48) (3)
Comprehensive loss $ (2,581) $ (5,828) $ (17,387) $ (22,207)
Basic and diluted net loss per common share (in usd per share) $ (0.04) $ (0.09) $ (0.26) $ (0.37)
Weighted average common shares outstanding, basic and diluted (shares) 66,634 65,979 66,416 60,201

Source

v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities    
Net loss $ (17,339) $ (22,204)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 6,325 8,606
Loss on disposal of fixed assets 0 31
Change in allowance for doubtful accounts 130 26
Amortization of debt discount 450 355
Amortization of debt issuance costs 519 0
Accrued interest 297 (14)
Stock-based compensation 3,335 3,805
Stock-based compensation for services rendered 276 723
Change in fair value of convertible note embedded derivative liability (2,423) 0
Change in fair value of warrant liability (797) 0
Loss on extinguishment of debt 293 0
Stock issued for settlement of liability 0 283
(Increase) / decrease in assets:    
Restricted cash transferred to / (from) operating cash (323) 200
Accounts receivable (1,877) (4,595)
Deposits 83 (69)
Deferred tax assets 212 0
Deferred financing costs 0 (174)
Prepaid expenses and other current assets 30 40
Increase / (decrease) in liabilities:    
Accounts payable 4,509 5,728
Accrued license fees and revenue share (712) 3,336
Accrued compensation (241) (837)
Other current liabilities (818) (700)
Other non-current liabilities 283 0
Net cash used in operating activities (7,788) (5,460)
Cash flows from investing activities    
Capital expenditures (1,381) (1,007)
Proceeds from sale of cost method investment in Sift 999 0
Net cash proceeds from cost method investment in Sift 0 875
Net cash used in investing activities (382) (132)
Cash flows from financing activities    
Cash received from issuance of convertible notes 16,000 0
Repayment of debt obligations (11,000) (450)
Payment of debt issuance costs (2,319) 0
Options exercised 11 51
Stock issued for cash in stock offering, net 0 12,627
Net cash provided in financing activities 2,692 12,228
Effect of exchange rate changes on cash and cash equivalents (48) (26)
Net change in cash and cash equivalents (5,526) 6,610
Cash and cash equivalents, beginning of period 11,231 7,069
Cash and cash equivalents, end of period $ 5,705 $ 13,679

Source

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