v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (290,606) $ (273,911)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation 83,342 82,178
Change in fair value of investments (36,637) 19,125
Change in fair value of debt and liability instruments 0 2,329
Accretion of discount and amortization of premium on available-for-sale marketable securities, net (5,691) (884)
Accretion of discount and amortization of premium on held-to-maturity marketable securities, net 0 (10,177)
Depreciation and amortization 600 1,098
Non-cash lease expense 1,394 1,943
Other 9,789 11,082
Changes in assets and liabilities:    
Other current assets (23,836) 128
Other assets 1,868 (2,940)
Litigation settlement receivable (1,392) 0
Accounts payable 7,109 (11,745)
Accrued expenses (13,911) (25,000)
Operating lease liabilities (286) (478)
Income tax payable (10,177) (2,996)
Other liabilities 7,930 5,865
Net cash used in operating activities (270,504) (204,383)
Marketable securities, available-for-sale    
Purchases (286,510) (1,801,681)
Proceeds from maturities 568,189 0
Marketable securities, held-to-maturity    
Proceeds from maturities 0 720,000
Purchase of property and equipment (419) (4,035)
Net cash provided by (used in) investing activities 281,260 (1,085,716)
Cash flows from financing activities:    
Repurchase of the Company’s common shares (206,729) (208,293)
Proceeds from exercise of the Company’s and subsidiary stock options 76,019 30,057
Taxes paid related to net settlement of equity awards (51,435) (9,532)
Proceeds from issuance of the Company’s common shares under employee stock purchase plan 635 0
Net cash used in financing activities (181,510) (187,768)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 315 815
Net change in cash, cash equivalents and restricted cash (170,439) (1,477,052)
Cash, cash equivalents and restricted cash at beginning of period 1,430,982 2,725,661
Cash, cash equivalents and restricted cash at end of period 1,260,543 1,248,609
Non-cash investing and financing activities:    
Taxes payable related to net settlement of equity awards 7,410 0
Other $ 2,517 $ 44