Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

v3.26.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities    
Net loss $ (2,981) $ (35,499)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 33,820 38,203
Amortization of debt discount, issuance costs, and exit and duration fees 4,686 3,932
Loss on extinguishment of debt 0 9,795
Provision for credit losses on accounts receivable 566 842
Unrealized (gain) loss on derivatives 8,606 2,335
Stock-based compensation expense 4,429 11,718
Fair value adjustment to non-marketable equity securities 9,281 0
Foreign exchange transaction (gain) loss (593) (222)
Non-cash lease expense 1,777 1,747
Change in deferred income taxes (2,311) 41
Changes in operating assets and liabilities:    
Accounts receivable (15,880) (25,201)
Prepaid expenses 1,181 893
Value-added tax receivable 1,075 (843)
Other current assets (4,767) (2,149)
Right-of-use assets 0 62
Other non-current assets 270 675
Accounts payable (1,708) (28,208)
Accrued revenue share 12,143 45,045
Accrued compensation (9,369) 5,457
Other current liabilities (2,811) (3,340)
Other non-current liabilities (712) (2,035)
Net cash provided by operating activities 36,702 23,248
Cash flows from investing activities    
Proceeds from sale of assets 4,700 0
Capital expenditures (15,568) (15,386)
Net cash used in investing activities (10,868) (15,386)
Cash flows from financing activities    
Proceeds from borrowings, net of original issue discount 0 418,700
Payment of original debt discount (5,000) 0
Payment of debt issuance costs 0 (19,915)
Payment of deferred business acquisition consideration 0 (842)
Repayment of debt obligations (7,044) (421,092)
Proceeds from issuance of common stock in connection with at-the-market offering, net of issuance costs of $420 0 13,573
Payment of withholding taxes for net share settlement of equity awards (370) (301)
Proceeds from options exercised 1,313 1,645
Net cash used in financing activities (11,101) (8,232)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (1,073) (430)
Net change in cash, cash equivalents, and restricted cash 13,660 (800)
Cash, cash equivalents, and restricted cash, beginning of period 37,960 40,084
Cash, cash equivalents, and restricted cash, end of period 51,620 39,284
Reconciliation of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 51,353 38,846
Restricted cash 267 438
Total cash, cash equivalents, and restricted cash 51,620 39,284
Supplemental disclosure of cash flow information    
Interest paid [1] 22,836 22,288
Income taxes paid 9,692 4,614
Supplemental disclosure of non-cash investing and financing activities    
Assets acquired not yet paid 151 277
Right-of-use assets obtained in exchange for operating lease liabilities 1,158 0
Stock-based compensation included in capitalized software development costs $ 586 $ 1,036
[1] The Company’s Form 10-Q for the quarterly period ended September 30, 2025 previously inadvertently reported interest paid as $13,623 for the six months ended, which represented interest paid for the three-months then ended instead of cumulative interest paid for the six-months then ended. This disclosure error was limited to the September 30, 2025 reporting period, and interest paid was correctly reported in subsequent periods.