Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Mar. 31, 2022
Cash flows from operating activities      
Net income [1] $ 14,958 $ 14,253  
Adjustments to reconcile net income to net cash provided by / (used in) operating activities:      
Depreciation and amortization [1] 19,929 8,653  
Non-cash interest expense [1] 210 127  
Loss on extinguishment of debt [1] 0 0  
Stock-based compensation expense [1] 6,244 3,705  
Foreign exchange transaction (gain) / loss [1] 331 0  
Change in fair value of warrant liability [1] 0  
Change in estimate of remaining contingent consideration [1] 0 0  
Payment of contingent consideration in excess of amount capitalized at acquisition [1] 0 0  
Right-of-use asset [1] 2,654 628  
Deferred income taxes [1] 1,050 2,877  
(Increase) / decrease in assets:      
Accounts receivable, gross [1] 6,626 (48,817)  
Allowance for credit losses [1] 886 26  
Prepaid expenses and other current assets [1] (4,967) (4,492)  
Other non-current assets [1] 212 160  
Increase / (decrease) in liabilities:      
Accounts payable [1] 5,718 35,396  
Accrued license fees and revenue share [1] (9,433) 3,573  
Accrued compensation [1] (11,585) (46,956)  
Other current liabilities [1] 7,368 2,455  
Other non-current liabilities [1] (3,572) (585)  
Net cash provided by / (used in) operating activities [1] 36,629 (28,997)  
Cash flows from investing activities      
Business acquisitions, net of cash acquired [1] 0 (126,604)  
Capital expenditures [1] (6,413) (4,364)  
Net cash used in investing activities [1] (6,413) (130,968)  
Cash flows from financing activities      
Payment of contingent consideration [1] 0 0  
Proceeds from borrowings [1] 0 237,041  
Payment of debt issuance costs [1] 0 (2,988)  
Payment of deferred business acquisition consideration [1] 0 0  
Options and warrants exercised [1] 296 695  
Payment of withholding taxes for net share settlement of equity awards [1] (4,357) 0  
Repayment of debt obligations [1] (60,508) (19,680)  
Net cash provided by / (used in) financing activities [1] (64,569) 215,068  
Effect of exchange rate changes on cash and cash equivalents and restricted cash [1] (2,970) (2,209)  
Net change in cash and cash equivalents and restricted cash [1] (37,323) 52,894  
Cash and cash equivalents and restricted cash, beginning of period [1] 127,162 31,118 $ 31,118
Cash and cash equivalents and restricted cash, end of period [1] 89,839 84,012 127,162
Supplemental disclosure of cash flow information      
Interest paid [1] 3,340 337  
Income taxes paid [1] 445 311  
Supplemental disclosure of non-cash activities      
Fair value of unpaid contingent consideration in connection with business acquisition [1] 2,578 213,413  
Fyber      
Adjustments to reconcile net income to net cash provided by / (used in) operating activities:      
Change in estimate of remaining contingent consideration     $ 50,000
Supplemental disclosure of non-cash activities      
Common stock issued for the acquisition of Fyber [1] 50,000 359,233  
Unpaid contingent consideration with equity for the acquisition of Fyber minority interest [1] $ 0 $ 24,558  
[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.