Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
Mar. 31, 2022
Cash flows from operating activities          
Net income [1]     $ 30,723 $ 15,428  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization [1]     60,147 40,946  
Non-cash interest expense [1]     619 500  
Stock-based compensation expense [1]     19,643 15,369  
Foreign exchange transaction (gain) / loss [1]     581 (1,603)  
Change in fair value of contingent consideration [2] $ 0 $ 18,200 0 40,287  
Right-of-use asset [1]     4,868 3,270  
Deferred income taxes [1]     (2,494) 4,799  
(Increase) / decrease in assets:          
Accounts receivable, gross [1]     32,816 (104,535)  
Allowance for credit losses [1]     3,009 412  
Prepaid expenses and other current assets [1]     (11,397) (5,760)  
Other non-current assets [1]     100 74  
Increase / (decrease) in liabilities:          
Accounts payable [1]     (14,113) 38,467  
Accrued license fees and revenue share [1]     (20,324) 29,377  
Accrued compensation [1]     (13,131) (33,506)  
Other current liabilities [1]     11,784 1,114  
Other non-current liabilities [1]     (5,317) (1,177)  
Net cash provided by operating activities [1]     97,514 43,462  
Cash flows from investing activities          
Equity investments [1]     (4,000) 0  
Business acquisitions, net of cash acquired [1]     (2,708) (148,192)  
Capital expenditures [1]     (18,598) (15,692)  
Net cash used in investing activities [1]     (25,306) (163,884)  
Cash flows from financing activities          
Proceeds from borrowings [1]     18,000 369,913  
Payment of debt issuance costs [1]     (94) (4,044)  
Payment of deferred business acquisition consideration [1]     0 (98,175)  
Options and warrants exercised [1]     1,095 2,814  
Payment of withholding taxes for net share settlement of equity awards [1]     (6,202) (7,587)  
Repayment of debt obligations [1]     (129,500) (52,623)  
Net cash provided by / (used in) financing activities [1]     (116,701) 210,298  
Effect of exchange rate changes on cash and cash equivalents and restricted cash [1]     (2,808) (5,554)  
Net change in cash and cash equivalents and restricted cash [1]     (47,301) 84,322  
Cash and cash equivalents and restricted cash, beginning of period [1]     127,162 31,118 $ 31,118
Cash and cash equivalents and restricted cash, end of period [1] $ 79,861 $ 115,440 79,861 115,440 127,162
Supplemental disclosure of cash flow information          
Interest paid [1]     12,912 3,882  
Income taxes paid [1]     3,917 954  
Supplemental disclosure of non-cash activities          
Fair value of unpaid contingent consideration in connection with business acquisitions [1]     2,738 204,500  
Fyber          
Adjustments to reconcile net income to net cash provided by operating activities:          
Change in fair value of contingent consideration         $ 50,000
Supplemental disclosure of non-cash activities          
Common stock issued for the acquisition of Fyber [1]     50,000 356,686  
Unpaid cash consideration for the acquisition of Fyber Minority Interest [1]     $ 2,578 $ 3,106  
[1] In the fiscal quarter ended June 30, 2021, the Company initiated two significant acquisitions. Please refer to Note 3, “Acquisitions,” in the accompanying condensed consolidated financial statements.
[2] In the fiscal quarter ended June 30, 2021, the Company initiated two significant acquisitions. Please refer to Note 3, “Acquisitions,” in the accompanying condensed consolidated financial statements.