Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.22.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities      
Net income from continuing operations, net of taxes $ 35,569 $ 54,884 $ 14,280
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 57,452 7,114 2,342
Non-cash interest expense 715 94 6
Loss on extinguishment of debt 0 255 0
Stock-based compensation expense 19,304 5,877 3,353
Foreign exchange transaction (gain) / loss (2,062) 0 0
Change in fair value of warrant liability 0 0 9,580
Change in estimate of remaining contingent consideration 41,087 15,751 0
Payment of contingent consideration in excess of amount capitalized at acquisition 0 (15,751) 0
Right-of-use asset 6,043 742 (1,858)
Deferred income taxes (3,981) (12,952) 40
(Increase) / decrease in assets:      
Accounts receivable, gross (73,656) (25,378) (2,431)
Allowance for credit losses 1,097 1,424 2,866
Prepaid expenses and other current assets (3,204) (586) (747)
Other non-current assets 283 0 0
Increase / (decrease) in liabilities:      
Accounts payable 31,762 (1,897) 16,168
Accrued license fees and revenue share 14,566 26,408 (3,630)
Accrued compensation (43,907) 5,224 1,661
Other current liabilities 9,634 2,721 1,040
Other non-current liabilities (5,964) (1,135) (9,000)
Net cash provided by operating activities - continuing operations 84,738 62,795 33,670
Net cash used in operating activities - discontinued operations 0 0 (2,293)
Net cash provided by operating activities 84,738 62,795 31,377
Cash flows from investing activities      
Business acquisitions, net of cash acquired (148,722) (28,604) (41,872)
Capital expenditures (23,280) (9,204) (4,845)
Net cash used in investing activities (172,002) (37,808) (46,717)
Cash flows from financing activities      
Payment of contingent consideration 0 (16,956) 0
Proceeds from borrowings 549,060 15,000 20,000
Payment of debt issuance costs (4,064) (469) (313)
Payment of deferred business acquisition consideration (302,676) 0 0
Options and warrants exercised 4,300 7,209 6,488
Payment of withholding taxes for net share settlement of equity awards (8,605) 0 0
Repayment of debt obligations (52,772) (20,000) 0
Net cash provided by / (used in) financing activities 185,243 (15,216) 26,175
Effect of exchange rate changes on cash and cash equivalents and restricted cash (1,935) (312) (235)
Net change in cash and cash equivalents and restricted cash 96,044 9,459 10,600
Cash and cash equivalents and restricted cash, beginning of period 31,118 21,659 11,059
Cash and cash equivalents and restricted cash, end of period 127,162 31,118 21,659
Supplemental disclosure of cash flow information      
Interest paid 5,985 922 101
Income taxes paid 1,715 927 0
Supplemental disclosure of non-cash activities      
Fair value of unpaid contingent consideration in connection with business acquisition 50,000 0 0
De-recognition of liability upon warrant exercise 0 0 17,593
Fyber      
Adjustments to reconcile net income to net cash provided by operating activities:      
Change in estimate of remaining contingent consideration 50,000    
Supplemental disclosure of non-cash activities      
Common stock for the acquisition of Fyber 356,686 0 0
Unpaid cash consideration for the acquisition of Fyber minority interest $ 2,578 $ 0 $ 0