Financials

v3.5.0.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2016
Mar. 31, 2016
Sep. 30, 2015
Mar. 31, 2015
Current assets        
Cash and cash equivalents $ 9,416 $ 11,231 $ 4,582 $ 7,069
Restricted cash 321 0    
Accounts receivable, net of allowances of $471 and $464, respectively 17,477 17,519    
Deposits 152 213    
Prepaid expenses and other current assets 515 583    
Total current assets 27,881 29,546    
Property and equipment, net 2,462 1,784    
Cost method investment 999 999    
Deferred tax assets 401 500    
Intangible assets, net 8,729 12,490    
Goodwill 76,621 76,621    
TOTAL ASSETS 117,093 121,940    
Current liabilities        
Accounts payable 20,071 15,300    
Accrued license fees and revenue share 8,613 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 1,660 2,147    
Total current liabilities 31,417 38,854    
Convertible notes, net of debt issuance costs and discounts of $6,616 and $0, respectively 9,384 0    
Other non-current liabilities 835 815    
Total liabilities 47,122 39,669    
Stockholders' equity        
Preferred stock 100 100    
Common stock 8 8    
Additional paid-in capital 297,929 295,423    
Treasury stock (754,599 shares at September 30, 2016 and March 31, 2016) (71) (71)    
Accumulated other comprehensive loss (255) (202)    
Accumulated deficit (227,740) (212,987)    
Total stockholders' equity 69,971 82,271    
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 117,093 121,940    
Convertible note embedded derivative liability        
Current liabilities        
Derivative liability 4,123 0    
Warrant liability        
Current liabilities        
Derivative liability $ 1,363 $ 0    

Source

v3.5.0.2
Consolidated Statements of Operations and Comprehensive Loss - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Income Statement [Abstract]        
Net revenues $ 22,832 $ 20,734 $ 46,871 $ 39,420
Cost of revenues        
License fees and revenue share 17,797 16,099 37,021 30,320
Other direct cost of revenues 1,882 4,558 3,762 6,749
Total cost of revenues 19,679 20,657 40,783 37,069
Gross profit 3,153 77 6,088 2,351
Operating expenses        
Product development 3,117 2,406 5,952 5,160
Sales and marketing 1,528 1,468 2,972 2,750
General and administrative 4,815 4,347 9,920 9,736
Total operating expenses 9,460 8,221 18,844 17,646
Loss from operations (6,307) (8,144) (12,756) (15,295)
Interest and other expense, net        
Interest expense, net (622) (405) (1,304) (896)
Foreign exchange transaction loss (1) (13) (4) (12)
Change in fair value of convertible note embedded derivative liability (430) 0 (430) 0
Change in fair value of warrant liability (140) 0 (140) 0
Loss on extinguishment of debt (293) 0 (293) 0
Loss on disposal of fixed assets 0 0 0 (23)
Other income 15 11 33 28
Total interest and other expense, net (1,471) (407) (2,138) (903)
Loss from operations before income taxes (7,778) (8,551) (14,894) (16,198)
Income tax provision / (benefit) (437) (229) (141) 243
Net loss (7,341) (8,322) (14,753) (16,441)
Other comprehensive income / (loss)        
Foreign currency translation adjustment (80) 111 (53) 62
Comprehensive loss $ (7,421) $ (8,211) $ (14,806) $ (16,379)
Basic and diluted net loss per common share (in usd per share) $ (0.11) $ (0.14) $ (0.22) $ (0.29)
Weighted average common shares outstanding, basic and diluted (shares) 66,457 57,274 66,358 57,328

Source

v3.5.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities    
Net loss $ (14,753) $ (16,441)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 4,199 6,850
Loss on disposal of fixed assets 0 23
Change in allowance for doubtful accounts 7 3
Amortization of debt discount 237 236
Amortization of debt issuance costs 444 0
Accrued interest (91) (16)
Stock-based compensation 2,310 2,524
Stock-based compensation for services rendered 166 600
Change in fair value of convertible note embedded derivative liability 430 0
Change in fair value of derivative instruments 140 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 (321) 200
Accounts receivable 35 (2,313)
Deposits 61 (1)
Deferred tax assets 99 0
Deferred financing costs 0 (187)
Prepaid expenses and other current assets 68 243
Increase / (decrease) in liabilities:    
Accounts payable 4,771 5,177
Accrued license fees and revenue share (1,009) 2,336
Accrued compensation (280) (597)
Other current liabilities (393) (585)
Other non-current liabilities 20 0
Net cash used in operating activities (3,567) (1,665)
Cash flows from investing activities    
Capital expenditures (1,115) (610)
Net cash used in investing activities (1,115) (610)
Cash flows from financing activities    
Cash received in convertible notes issuance 16,000 0
Repayment of debt obligations (11,000) (300)
Payment of debt issuance costs (2,091) 0
Options exercised 11 49
Net cash provided / (used) in financing activities 2,920 (251)
Effect of exchange rate changes on cash and cash equivalents (53) 39
Net change in cash and cash equivalents (1,815) (2,487)
Cash and cash equivalents, beginning of period 11,231 7,069
Cash and cash equivalents, end of period $ 9,416 $ 4,582

Source

Contact

Get in touch to see how we can help your company

CONTACT US