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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities      
Net income $ 154,783 $ 50,210 $ 29,737
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 5,040 3,702 900
Deferred income taxes (41,247) 4,987 (7,099)
Stock-based compensation, net of amounts capitalized 31,442 7,252 2,353
Non-cash lease expense 1,159 2,433 2,000
Amortization of premium (accretion of discount) on marketable securities, net 4,332 197 (441)
Loss on sale of marketable securities 1,231 0 0
Amortization of deferred contract costs 9,755 6,883 5,070
Gain on sale of business 0 (4,698) 0
Other 410 403 (52)
Changes in operating assets and liabilities, net of effect of acquisition:      
Accounts receivable (31,017) (20,452) (12,036)
Prepaid expenses and other assets (9,089) (1,833) (3,040)
Deferred contract costs (9,609) (9,384) (5,674)
Accounts payable, accrued expenses and other liabilities 8,664 7,285 5,056
Deferred revenue 1,828 38,571 13,318
Operating lease liabilities (1,107) (2,583) (3,893)
Net cash provided by operating activities 126,575 82,973 26,199
Cash flows from investing activities      
Purchases of property and equipment (1,912) (245) (285)
Internal-use software development costs (3,785) (4,365) (3,959)
Purchases of marketable securities (1,317,193) (78,880) (79,107)
Maturities of marketable securities 47,919 40,537 70,256
Sales of marketable securities 633,802 0 0
Cash paid for acquisition, net of cash acquired 0 (31,682) 0
Proceeds from sale of business 0 4,230 0
Other 595 (12) 0
Net cash used in investing activities (640,574) (70,417) (13,095)
Cash flows from financing activities      
Proceeds from issuance of common stock upon initial public offering after deducting underwriting discounts and commissions 553,905 0 0
Proceeds from issuance of common stock upon exercise of stock options 12,612 8,897 1,694
Proceeds from issuance of common stock in connection with the employee stock purchase plan 1,395 0 0
Taxes paid related to net share settlement of equity awards (817) 0 0
Repurchase of common stock (2,698) (2,022) 0
Payments for deferred offering costs (3,982) (1,468) 0
Proceeds from exercise of redeemable convertible preferred stock warrants 0 0 25
Net cash provided by financing activities 560,415 5,407 1,719
Net increase in cash and cash equivalents 46,416 17,963 14,823
Cash and cash equivalents, beginning of period 66,393 48,430 33,607
Cash and cash equivalents, end of period 112,809 66,393 48,430
Supplemental disclosures of cash flow information      
Cash paid for taxes 206 5,972 1,237
Non-cash financing and investing activities      
Conversion of redeemable convertible preferred stock to common stock 81,458 0 0
Unpaid deferred offering costs 0 782 0
Common stock issued in acquisition 0 1,062 0
Capitalized stock-based compensation for internal-use software development costs 497 195 184
Amounts held in escrow related to sale of business 0 470 0
Operating lease right-of-use assets obtained in exchange for modified operating lease liabilities $ 1,151 $ 0 $ 0