Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Cash Flows

v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities      
Net loss $ (37,732) $ (92,099) $ (420,448)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 71,452 82,910 83,858
Amortization of debt discount, issuance costs, and exit and duration fees 13,933 1,835 102
Loss on extinguishment of debt 9,795 0 0
Provision for credit losses on accounts receivable 233 2,767 3,202
Unrealized gain on derivatives (1,504) 0 0
Stock-based compensation expense 16,355 33,543 33,763
Foreign exchange transaction gain (3,536) (1,297) (101)
Change in fair value of contingent consideration 231 300 (372)
Non-cash lease expense 3,502 3,179 3,029
Change in deferred income taxes (654) (4,054) 6,900
Impairment of goodwill 0 0 336,640
Changes in operating assets and liabilities:      
Accounts receivable (70,192) 5,823 (19,251)
Prepaid expenses 922 777 688
Value-added tax receivable 4,386 (3,570) (4,356)
Other current assets (4,848) 613 (1,931)
Right-of-use assets (1,061) (3,928) (2,123)
Other non-current assets 1,814 939 (5,194)
Accounts payable (7,183) (19,345) 40,190
Accrued revenue share 51,827 1,418 (34,955)
Accrued compensation 14,767 298 (3,552)
Other current liabilities (21,415) 2,410 14,335
Other non-current liabilities 713 (639) (1,747)
Net cash provided by operating activities 41,805 11,880 28,677
Cash flows from investing activities      
Equity investments 0 0 (19,634)
Business acquisition, net of cash acquired 0 0 65
Capital expenditures (30,619) (27,477) (24,279)
Net cash used in investing activities (30,619) (27,477) (43,848)
Cash flows from financing activities      
Proceeds from borrowings, net of original issue discount 418,700 38,000 50,000
Payment of debt issuance costs (20,486) (1,627) 0
Payment of deferred business acquisition consideration (1,263) 0 0
Repayment of debt obligations (466,000) (13,000) (77,134)
Acquisition of non-controlling interest in consolidated subsidiaries 0 0 (3,751)
Proceeds from issuance of common stock in connection with at-the-market offering, net of issuance costs of $1,757 56,809 0 0
Payment of withholding taxes for net share settlement of equity awards (937) (465) (1,286)
Proceeds from options exercised 2,313 373 2,871
Net cash provided by (used in) financing activities (10,864) 23,281 (29,300)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (2,446) (1,205) 2,518
Net change in cash, cash equivalents, and restricted cash (2,124) 6,479 (41,953)
Cash, cash equivalents, and restricted cash, beginning of period 40,084 33,605 75,558
Cash, cash equivalents, and restricted cash, end of period 37,960 40,084 33,605
Reconciliation of cash, cash equivalents, and restricted cash      
Cash and cash equivalents 37,719 39,393 32,916
Restricted cash 241 691 689
Total cash, cash equivalents, and restricted cash 37,960 40,084 33,605
Supplemental disclosure of cash flow information      
Interest paid 47,088 35,583 30,716
Income taxes paid 26,295 7,150 1,529
Supplemental disclosure of non-cash investing and financing activities      
Assets acquired not yet paid 233 519 546
Stock-based compensation included in capitalized software development costs 1,857 1,024 1,644
Fair value of unpaid contingent consideration in connection with business acquisitions $ 0 $ 1,664 $ 2,366