Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.25.4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities    
Net loss $ (30,392) $ (73,273)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 54,768 59,784
Amortization of debt discount and issuance costs 7,939 1,290
Loss on extinguishment of debt 9,795 0
Provision for credit losses 189 2,144
Unrealized loss on derivatives 735 0
Stock-based compensation expense 12,213 25,417
Foreign exchange transaction gain (3,037) (879)
Change in fair value of contingent consideration 231 300
Non-cash lease expense 2,607 2,391
(Increase) decrease in assets:    
Accounts receivable, gross (64,042) (11,024)
Prepaid expenses (520) 795
Value-added tax receivable (1,703) (2,930)
Other current assets (8,435) 1,036
Right-of-use asset 88 (4,036)
Other non-current assets 1,028 702
Increase (decrease) in liabilities:    
Accounts payable (12,746) (11,384)
Accrued revenue share 58,735 491
Accrued compensation 9,780 1,379
Other current liabilities 4,688 12,417
Deferred income taxes (4,886) (5,352)
Other non-current liabilities 389 1,104
Net cash provided by operating activities - continuing operations 37,424 372
Net cash provided by operating activities 37,424 372
Cash flows from investing activities    
Capital expenditures (23,172) (20,533)
Net cash used in investing activities (23,172) (20,533)
Cash flows from financing activities    
Proceeds from borrowings, net of original issue discount 418,700 38,000
Payment of debt issuance costs (20,486) (1,627)
Payment of deferred business acquisition consideration (1,157) 0
Repayment of debt obligations (466,000) (13,000)
Proceeds from issuance of common stock in connection with at-the-market offering, net of issuance costs of $1,757 56,809 0
Payment of withholding taxes for net share settlement of equity awards (505) (231)
Options exercised 2,307 103
Net cash provided by (used in) financing activities (10,332) 23,245
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (3,581) (1,375)
Net change in cash, cash equivalents, and restricted cash 339 1,709
Cash, cash equivalents, and restricted cash, beginning of period 40,084 33,605
Cash, cash equivalents, and restricted cash, end of period 40,423 35,314
Reconciliation of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 40,180 34,620
Restricted cash 243 694
Total cash, cash equivalents and restricted cash 40,423 35,314
Supplemental disclosure of cash flow information    
Interest paid 36,027 27,597
Income taxes paid 12,102 1,558
Supplemental disclosure of non-cash activities    
Assets acquired not yet paid 258 491
Right-of-use assets acquired under operating leases 0 4,096
Fair value of unpaid contingent consideration in connection with business acquisitions $ 0 $ 1,644