Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net loss $ (11,329) $ (14,104)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 16,805 23,337
Amortization of debt discount, issuance costs, and exit and duration fees 1,600 1,154
Provision for credit losses on accounts receivable 277 788
Unrealized loss on derivatives 10,799 0
Stock-based compensation expense 2,448 6,267
Fair value adjustment to non-marketable equity securities 9,281 0
Foreign exchange transaction loss (gain) (681) 914
Non-cash lease expense 869 790
Change in deferred income taxes (1,259) 797
Changes in operating assets and liabilities:    
Accounts receivable (12,228) (22,917)
Prepaid expenses (681) 595
Value-added tax receivable 1,279 (368)
Other current assets (4,612) (727)
Right-of-use assets 0 (141)
Other non-current assets 278 291
Accounts payable 18,054 (26,939)
Accrued revenue share (1,457) 44,493
Accrued compensation (10,057) 2,112
Other current liabilities (1,597) (6,276)
Other non-current liabilities 70 (1,278)
Net cash provided by operating activities 17,859 8,788
Cash flows from investing activities    
Proceeds from sale of assets 4,700 0
Capital expenditures (6,679) (7,616)
Net cash used in investing activities (1,979) (7,616)
Cash flows from financing activities    
Payment of original debt discount (5,000) 0
Payment of debt issuance costs 0 (9,298)
Payment of deferred business acquisition consideration 0 (534)
Repayment of debt obligations (4,700) (40)
Payment of withholding taxes for net share settlement of equity awards (271) (144)
Proceeds from options exercised 281 1,560
Net cash used in financing activities (9,690) (8,456)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (944) 1,332
Net change in cash, cash equivalents, and restricted cash 5,246 (5,952)
Cash, cash equivalents, and restricted cash, beginning of period 37,960 40,084
Cash, cash equivalents, and restricted cash, end of period 43,206 34,132
Reconciliation of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 42,930 33,427
Restricted cash 276 705
Total cash, cash equivalents, and restricted cash 43,206 34,132
Supplemental disclosure of cash flow information    
Interest paid 11,585 8,665
Income taxes paid 7,506 3,066
Supplemental disclosure of non-cash investing and financing activities    
Assets acquired not yet paid 128 326
Stock-based compensation included in capitalized software development costs 303 557
Fair value of unpaid contingent consideration in connection with business acquisitions $ 0 $ 644