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 $ 26,318 $ 112,089 $ 127,663
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 79,361 44,115 30,167
Non-cash lease expense 10,948 9,740 5,746
Stock-based compensation expense 86,919 71,786 40,625
Amortization of debt issuance costs and discount on debt 1,433 545 430
Deferred income taxes (3,524) 446 (3,276)
Impairment of equity investment 0 0 2,875
Acquisition-related seller expenses (47,100) 0 (10,549)
Loss on extinguishment of debt 674 13 0
Change in fair value of contingent consideration 57,649 0 0
Other, net 2,175 136 1,227
Changes in operating assets and liabilities:      
Accounts receivable (17,505) (2,742) (49,598)
Inventory 7,327 4,874 (93,930)
Prepaid expenses and other assets (67,401) (75,854) (55,182)
Accounts payable and accrued expenses 75,291 (23,397) 81,215
Other liabilities (54) (7,911) (6,259)
Net cash provided by operating activities 212,511 133,840 71,154
Cash flows from investing activities:      
Acquisition, net of cash acquired (581,682) 0 (274,973)
Purchase of property and equipment (22,449) (18,520) (8,659)
Investment contributions (1,117) (577) (1,028)
Net cash used in investing activities (605,248) (19,097) (284,660)
Cash flows from financing activities:      
Proceeds from revolving line of credit 50,000 0 89,500
Repayment of revolving line of credit (50,000) (89,500) 0
Proceeds from long-term debt 600,000 256,676 115,000
Repayment of long-term debt (15,000) (173,376) (7,875)
Debt issuance costs paid (6,891) (2,083) (665)
Repurchase of common stock (49,987) (67,062) 0
Cash received from issuance of common stock 5,797 953 5,561
Other, net 0 (57) (576)
Net cash provided by (used in) financing activities 533,919 (74,449) 200,945
Effect of exchange rate changes on cash and cash equivalents (189) 215 (34)
Net increase (decrease) in cash and cash equivalents 140,993 40,509 (12,595)
Cash and cash equivalents - beginning of period 148,692 108,183 120,778
Cash and cash equivalents - end of period 289,685 148,692 108,183
Supplemental disclosure of cash flow information:      
Cash paid for interest 37,404 15,660 11,265
Cash paid for income taxes, net of refunds 21,361 25,331 12,396
Cash paid for interest on finance leases 0 0 6
Supplemental disclosure of noncash investing and financing activities:      
Issuance of common stock as consideration for acquisition 300,278 0 57,772
Property and equipment purchases included in accounts payable and accrued expenses $ 423 $ 2,628 $ 1,632