v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Operating activities        
Net income (loss) $ (20,199) $ (52,928) $ 85,587 $ 71,028
Adjustments to reconcile net income (loss) to net cash provided by operating activities        
Depreciation (including amortization of technology costs) 27,308 17,707 62,218 50,448
Amortization of intangibles 55,417 59,279 169,167 180,692
Amortization of product development costs 12,946 12,801 44,962 44,703
Stock-based compensation     31,737 0
Credit losses on accounts receivable     (529) (2,556)
Unrealized (gain) loss on interest rate cap     0 235
Inventory obsolescence 140 1,218 8,300 9,784
Deferred income taxes     845 (1,184)
Amortization of debt discount     9,947 14,989
Amortization of deferred financing costs     3,744 8,782
(Gain) loss on extinguishment of debt 8,183 0 24,544 2,719
Changes in operating assets and liabilities:        
Accounts receivable     100,633 (433)
Inventories     (3,132) 51,996
Prepaid and other current assets     (92,827) (127,245)
Accounts payable and accrued expenses     (25,268) 40,152
Deferred revenue     18,964 238,561
Other current liabilities     (42,123) 30,653
Other changes in operating assets and liabilities, net     (3,109) (3,870)
Cash provided by (used for) operating activities     477,297 687,469
Investing activities        
Product development expenditures     (76,680) (60,476)
Capital expenditures     (61,039) (42,621)
Cash provided by (used for) investing activities     (137,719) (103,097)
Financing activities        
Borrowings on 2024 Secured Notes     0 650,000
Payment of finance lease obligations     (5,912) (7,708)
Payment of deferred financing costs     0 (24,027)
Proceeds from issuance of common stock in Initial Public Offering, net of underwriting discounts     392,862 0
Deferred Initial Public Offering costs     (7,037) 0
Cash provided by (used for) financing activities     (215,662) (239,902)
Effect of exchange rate changes on cash     646 896
Net change in cash and cash equivalents     124,562 345,366
Cash and cash equivalents, at the beginning of the period     389,830 203,618
Cash and cash equivalents, at the end of the period 514,392 548,984 514,392 548,984
Supplemental disclosures        
Cash paid for interest expense     124,679 173,392
Cash paid for income taxes     73,832 33,401
A&E Term Loan Facility        
Financing activities        
Payment of Term Loan Facility     (595,575) (103,292)
Term Loan Facility        
Financing activities        
Payment of Term Loan Facility     0 (754,875)
Deferred Royalties        
Adjustments to reconcile net income (loss) to net cash provided by operating activities        
Amortization of capitalized contract costs 9,397 10,091 67,654 65,280
Deferred Commission Costs        
Adjustments to reconcile net income (loss) to net cash provided by operating activities        
Amortization of capitalized contract costs $ 3,350 $ 2,903 $ 15,983 $ 12,735