Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities      
Income / (loss) from continuing operations, net of taxes $ 54,884 $ 14,280 $ (4,302)
Adjustments to reconcile net income / (loss) to net cash used in operating activities:      
Depreciation and amortization 7,114 2,342 2,766
Non-cash interest expense 94 6 798
Stock-based compensation 4,853 2,710 2,011
Stock-based compensation for services rendered 1,024 643 520
Change in fair value of convertible note embedded derivative liability 0 0 1,008
Change in fair value of warrant liability 0 9,580 4,875
Loss on extinguishment of debt 255 0 431
Change in estimate of remaining contingent consideration 15,751 0 0
Payment of contingent consideration in excess of amounts capitalized at acquisition (15,751) 0 0
(Increase) / decrease in assets:      
Accounts receivable, gross (25,378) (2,431) (6,040)
Allowance for credit losses 1,424 2,866 383
Prepaid expenses and other current assets (586) (747) (430)
Deferred tax assets (12,952) 40 556
Right-of-use asset 742 (1,858)  
Increase / (decrease) in liabilities:      
Accounts payable (1,897) 16,168 (4,983)
Accrued license fees and revenue share 26,408 (3,630) 7,973
Accrued compensation 5,224 1,661 (525)
Other current liabilities 2,721 1,040 (253)
Other non-current liabilities (1,135) (9,000) 182
Net cash provided by operating activities - continuing operations 62,795 33,670 4,970
Net cash used in operating activities - discontinued operations 0 (2,293) (3,701)
Net cash provided by operating activities 62,795 31,377 1,269
Cash flows from investing activities      
Capital expenditures (9,204) (4,845) (2,314)
Net cash used in investing activities (37,808) (46,717) (2,314)
Cash flows from financing activities      
Proceeds from borrowings 15,000 20,000 0
Payment of debt issuance costs (469) (313) 0
Payment of contingent consideration (16,956) 0 0
Options and warrants exercised 7,209 6,488 734
Repayment of debt obligations (20,000) 0 (1,650)
Net cash provided by / (used in) financing activities (15,216) 26,175 (916)
Effect of exchange rate changes on cash (312) (235) (31)
Net change in cash 9,459 10,600 (1,992)
Cash and restricted cash, beginning of year 21,659 11,059 13,051
Cash and restricted cash, end of year 31,118 21,659 11,059
Supplemental disclosure of cash flow information      
Interest paid 922 101 383
Income taxes paid 927 0 0
Supplemental disclosure of non-cash financing activities      
Common stock of the Company issued for extinguishment of debt 0 0 10,582
Cashless exercise of warrants to purchase common stock of the Company 0 0 144
De-recognition of liability upon warrant exercise 0 17,593 0
Appreciate      
Cash flows from investing activities      
Acquisition, net of cash (20,348) 0 0
Mobile Posse      
Cash flows from investing activities      
Acquisition, net of cash $ (8,256) $ (41,872) $ 0