v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities      
Net income $ 70,657 $ 76,106 $ 168,906
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 10,348 9,072 6,415
Amortization of debt issuance costs 2,808 115 115
Amortization of deferred commissions costs 47,741 33,414 26,531
Noncash stock-based compensation 123,425 113,262 94,551
Noncash operating lease expense 8,116 6,408 6,685
Noncash change in fair value of equity securities 68 (364) 17
Noncash change in fair value of contingent consideration (545) 2,060 0
Noncash adjustment on headquarters sale leaseback 495 0 0
Noncash impairment charges 0 2,910 0
Noncash lease impairment 1,374 0 0
Deferred income taxes 7,700 (23,474) (109,598)
Changes in operating assets and liabilities:      
Trade accounts receivable, net (73,964) (62,012) (21,725)
Operating lease liabilities (8,012) (7,136) (6,135)
Other current assets and Other assets (20,823) (8,615) 336
Deferred commissions cost (73,655) (49,848) (29,952)
Accounts payable 252 (948) 195
Accrued liabilities 11,562 25,235 16,998
Deferred revenue 136,410 87,659 50,394
Other liabilities 723 3,538 65
Net cash provided by operating activities 244,680 207,382 203,798
Cash flows from investing activities      
Purchase of property and equipment (7,529) (3,756) (4,086)
Purchase of equity securities (6,951) (1,333) (1,435)
Proceeds from sale of headquarters, net 34,849 0 0
Business combination, net of cash acquired (25,815) (65,311) 0
Net cash used in investing activities (5,446) (70,400) (5,521)
Cash flows from financing activities      
Repurchase of common stock (446,106) (165,015) (184,021)
Proceeds from stock-based compensation plans 14,503 17,537 13,440
Proceeds from issuance of convertible notes 900,000 0 0
Purchase of capped calls (99,630) 0 0
Payment of contingent liability 0 (340) 0
Payment of debt issuance costs (23,400) 0 0
Other (66) 0 0
Net cash provided by (used in) financing activities 345,301 (147,818) (170,581)
Effects of exchange rate — changes in cash 13,349 185 (2,720)
Net increase (decrease) in cash and cash equivalents 597,884 (10,651) 24,976
Cash and cash equivalents at beginning of year 302,103 312,754 287,778
Cash and cash equivalents at end of year 899,987 302,103 312,754
Supplemental disclosures of cash flow information      
Income taxes paid 13,612 42,185 19,970
Noncash activities:      
Issuance of common stock for business combination 0 4,900 0
Operating lease liabilities arising from obtaining right-of-use assets $ 35,604 $ 5,796 $ 5,528