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
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net (loss) income $ (25,156) $ (8,399)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 20,819 21,258
Non-cash interest expense 301 571
Allowance for credit losses 214 752
Stock-based compensation expense 8,168 10,017
Foreign exchange transaction gain (818) (1,923)
Right-of-use asset 421 644
Deferred income taxes (2,074) 1,619
(Increase) decrease in assets:    
Accounts receivable, gross (5,116) (24,739)
Prepaid expenses 813 587
Other current assets (1,400) (3,388)
Other non-current assets 514 (1,233)
Increase (decrease) in liabilities:    
Accounts payable 9,058 18,620
Accrued revenue share (7,556) (19,723)
Accrued compensation (299) (792)
Other current liabilities 619 7,943
Other non-current liabilities 140 (496)
Net cash provided by (used in) operating activities (1,352) 1,318
Cash flows from investing activities    
Capital expenditures (5,931) (7,276)
Net cash used in investing activities (5,931) (7,276)
Cash flows from financing activities    
Proceeds from borrowings 17,000 5,000
Repayment of debt obligations (7,000) (10,000)
Acquisition of non-controlling interest in consolidated subsidiaries 0 (3,751)
Payment of withholding taxes for net share settlement of equity awards (48) (931)
Options exercised 14 731
Net cash provided by (used in) financing activities 9,966 (8,951)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (559) (1,580)
Net change in cash, cash equivalents, and restricted cash 2,124 (16,489)
Cash, cash equivalents, and restricted cash, beginning of period 33,605 75,558
Cash, cash equivalents, and restricted cash, end of period 35,729 59,069
Supplemental disclosure of cash flow information    
Interest paid 8,104 6,810
Income taxes paid 703 444
Supplemental disclosure of non-cash activities    
Assets acquired not yet paid 403 440
Right-of-use assets acquired under operating leases 888 353
Fair value of unpaid contingent consideration in connection with business acquisitions $ 1,015 $ 2,738