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 $ 585,883 $ 517,246 $ 496,215
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of intangible assets 30,602 13,407 4,363
Provision for (recovery of) credit losses 606 (2,399) 2,427
Non-cash other expense (income) 25,194 16,599 (638)
Debt extinguishment costs 5,121 0 0
Amortization of debt issuance cost 1,148 1,824 571
Changes in fair value of contingent consideration 6,130 0 0
Stock-based compensation 120,298 118,880 56,783
Deferred income taxes (223) (8,744) (37,990)
Changes in operating assets and liabilities:      
Accounts receivable 61,853 (47,648) (113,955)
Contract assets (126,426) (8,767) (99,163)
Inventories (46,554) (2,970) (60,981)
Section 45X credit receivable (267,059) (92,086) (125,415)
Other current and noncurrent assets (94,299) 67,916 21,244
Accounts payable (49,443) 102,905 245,374
Other current and noncurrent liabilities 241,978 (55,055) (42,468)
Deferred revenue (current and noncurrent) 68,102 34,686 82,606
Net cash provided by operating activities 562,911 655,794 428,973
Cash flows from investing activities:      
Payment for business acquisitions, net of cash acquired (117,162) (144,675) 0
Purchases of property and equipment (49,277) (33,921) (6,160)
Purchase of equity method investment (12,177) 0 0
Other investing activities (8,262) (7,500) (500)
Net cash used in investing activities (186,878) (186,096) (6,660)
Cash flows from financing activities:      
Repayments of bank borrowings 0 (150,000) 0
Payment of revolver issuance cost (1,993) (6,017) 0
TRA payment (27,427) (15,520) 0
Distribution to former non-controlling interest holders (3,010) (6,112) (66,881)
Payment of acquisition deferred purchase price (14,335) 0 0
Repurchases of common stock (395) 0 0
Net proceeds from issuance of Class A shares 0 0 552,009
Purchase of LLC common units from Yuma, Inc. 0 0 (552,009)
Net transfers to former parent 0 0 (8,335)
Other financing activities 0 0 (3,051)
Net cash used in financing activities (47,160) (177,649) (78,267)
Net increase in cash and cash equivalents 328,873 292,049 344,046
Cash and cash equivalents beginning of period 766,103 474,054 130,008
Cash and cash equivalents end of period $ 1,094,976 $ 766,103 $ 474,054