Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.25.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities    
Net (loss) income $ (73,273,000) $ (183,942,000)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 59,784,000 62,934,000
Non-cash interest expense 1,290,000 633,000
Allowance for credit losses 2,144,000 2,575,000
Stock-based compensation expense 25,417,000 27,020,000
Foreign exchange transaction gain (879,000) (155,000)
Change in fair value of contingent consideration 300,000 (372,000)
Right-of-use asset (1,645,000) 545,000
Impairment of goodwill 0 147,181,000
(Increase) decrease in assets:    
Accounts receivable, gross (11,024,000) (44,427,000)
Prepaid expenses 795,000 (2,232,000)
Other current assets (1,894,000) (6,067,000)
Other non-current assets 702,000 (5,004,000)
Increase (decrease) in liabilities:    
Accounts payable (11,384,000) 40,082,000
Accrued revenue share 491,000 (2,836,000)
Accrued compensation 1,379,000 (3,441,000)
Other current liabilities 12,417,000 16,963,000
Deferred income taxes (5,352,000) (9,009,000)
Other non-current liabilities 1,104,000 (15,000)
Net cash provided by operating activities 372,000 40,433,000
Cash flows from investing activities    
Equity investments 0 (9,678,000)
Business acquisition, net of cash acquired 0 65,000
Capital expenditures (20,533,000) (17,384,000)
Net cash used in investing activities (20,533,000) (26,997,000)
Cash flows from financing activities    
Proceeds from borrowings 38,000,000 25,000,000
Payment of debt issuance costs (1,627,000) 0
Repayment of debt obligations (13,000,000) (62,134,000)
Acquisition of non-controlling interest in consolidated subsidiaries 0 (3,751,000)
Payment of withholding taxes for net share settlement of equity awards (231,000) (1,176,000)
Options exercised 103,000 2,786,000
Net cash provided by (used in) financing activities 23,245,000 (39,275,000)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (1,375,000) (254,000)
Net change in cash, cash equivalents, and restricted cash 1,709,000 (26,093,000)
Cash, cash equivalents, and restricted cash, beginning of period 33,605,000 75,558,000
Cash, cash equivalents, and restricted cash, end of period 35,314,000 49,465,000
Reconciliation of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 34,620,000 48,959,000
Restricted cash 694,000 506,000
Total cash, cash equivalents and restricted cash 35,314,000 49,465,000
Supplemental disclosure of cash flow information    
Interest paid 27,597,000 22,876,000
Income taxes paid 1,558,000 536,000
Supplemental disclosure of non-cash activities    
Assets acquired not yet paid 491,000 241,000
Right-of-use assets acquired under operating leases 4,096,000 2,683,000
Fair value of unpaid contingent consideration in connection with business acquisitions $ 1,644,000 $ 2,366,000