v3.26.1
Consolidated balance sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Mar. 31, 2025
Current assets:    
Cash and cash equivalents $ 1,094,976 $ 766,103
Accounts receivable, net of allowance of $2,078 and $1,472, respectively 417,043 472,462
Contract assets 533,257 405,890
Inventories 262,276 209,432
Section 45X credit receivable 352,598 215,616
Other current assets 186,406 88,483
Total current assets 2,846,556 2,157,986
Property and equipment, net 78,356 60,395
Goodwill 488,950 371,018
Other intangible assets, net 78,046 53,241
Deferred tax assets 511,815 498,778
Other assets 69,489 51,098
Total assets 4,073,212 3,192,516
Current liabilities:    
Accounts payable 533,490 585,299
Accrued expenses 130,133 97,000
Deferred revenue 307,492 247,127
Other current liabilities 192,747 104,086
Total current liabilities 1,163,862 1,033,512
Tax receivable agreement (TRA) liability 372,659 394,879
Long-term deferred revenue 102,493 96,635
Other liabilities 99,801 39,360
Total liabilities 1,738,815 1,564,386
Commitments and contingencies (Note 11)
Stockholders’ equity:    
Additional paid-in-capital 4,305,726 4,185,823
Accumulated deficit (1,971,527) (2,557,410)
Accumulated other comprehensive loss 183 (298)
Total stockholders’ equity 2,334,397 1,628,130
Total liabilities and stockholders’ equity 4,073,212 3,192,516
Class A common stock    
Stockholders’ equity:    
Class A common stock, $0.0001 par value, 900,000,000 shares authorized, 149,391,483 shares and 145,648,231 shares issued and outstanding, respectively $ 15 $ 15