Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities    
Net income [1] $ 15,428 $ 24,828
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization [2] 40,946 5,062
Non-cash interest expense [2] 500 55
Stock-based compensation expense [2] 15,369 4,286
Foreign exchange transaction (gain) / loss (1,603) [2] 0 [1]
Change in fair value of contingent consideration [2] 40,287 15,419
Payment of contingent consideration in excess of amount capitalized at acquisition [2] 0 (5,419)
Right-of-use asset [2] 3,270 430
Deferred income taxes [2] 4,799 0
(Increase) / decrease in assets:    
Accounts receivable, gross [2] (104,535) (26,746)
Allowance for credit losses [2] 412 854
Prepaid expenses and other current assets [2] (5,760) 1,698
Other non-current assets [2] 74 0
Increase / (decrease) in liabilities:    
Accounts payable [2] 38,467 2,563
Accrued license fees and revenue share [2] 29,377 16,765
Accrued compensation [2] (33,506) 4,029
Other current liabilities [2] 1,114 5,273
Other non-current liabilities [2] (1,177) (485)
Net cash provided by operating activities [2] 43,462 48,612
Cash flows from investing activities    
Business acquisitions, net of cash acquired [2] (148,192) (7,968)
Capital expenditures [2] (15,692) (6,545)
Net cash used in investing activities [2] (163,884) (14,513)
Cash flows from financing activities    
Payment of contingent consideration [2] 0 (16,957)
Proceeds from borrowings [2] 369,913 0
Payment of debt issuance costs [2] (4,044) 0
Payment of deferred business acquisition consideration [2] (98,175) 0
Options and warrants exercised [2] 2,814 5,927
Payment of withholding taxes for net share settlement of equity awards [2] (7,587) 0
Repayment of debt obligations [2] (52,623) (750)
Net cash provided by / (used in) financing activities [2] 210,298 (11,780)
Effect of exchange rate changes on cash [2] (5,554) (319)
Net change in cash [2] 84,322 22,000
Cash and restricted cash, beginning of period [2] 31,118 21,659
Cash and restricted cash, end of period [2] 115,440 43,659
Supplemental disclosure of cash flow information    
Interest paid [2] 3,882 832
Income taxes paid [2] 954 0
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]    
Fair value of contingent consideration in connection with business acquisition [2] 204,500 0
Fyber    
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]    
Common stock for the acquisition of Fyber [2] 356,686 0
Unpaid cash consideration for acquisition [2] $ 3,106 $ 0
[1] In the fiscal quarter ended June 30, 2021, the Company initiated two significant acquisitions. Please refer to Note 3 in the accompanying condensed consolidated financial statements.
[2] In the fiscal quarter ended June 30, 2021, the Company initiated two significant acquisitions. Please refer to Note 3 in the accompanying condensed consolidated financial statements.