v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:      
Net income $ 483,684 $ 154,632 $ 107,959
Adjustments to reconcile net income to cash provided by operations:      
Depreciation 19,236 15,499 12,541
Amortization 28,868 39,441 42,070
Share-based compensation 271,703 208,896 146,874
Loss on extinguishment of debt 0 0 5,925
Deferred income taxes (392,942) (59,915) (53,534)
Other 2,035 11,216 988
Net change in operating assets and liabilities:      
Accounts receivable (24,026) (161,888) (94,910)
Deferred commissions (14,648) (23,520) (45,191)
Prepaid expenses and other assets (36,593) (47,401) 26,753
Accounts payable and accrued expenses 31,534 37,896 58,680
Operating leases, net (231) 1,026 1,186
Deferred revenue 90,799 202,227 145,544
Net cash provided by operating activities 459,419 378,109 354,885
Cash flows from investing activities:      
Purchase of property and equipment (26,106) (26,459) (21,540)
Capitalized software additions (2,696) (5,268) 0
Acquisition of businesses, net of cash acquired (100) (57,111) 0
Purchases of investments (145,555) (104,210) 0
Sales and maturities of investments 105,142 0 0
Net cash used in investing activities (69,315) (193,048) (21,540)
Cash flows from financing activities:      
Repayment of term loans 0 0 (281,125)
Debt issuance costs 0 0 (1,949)
Payments of deferred consideration related to capitalized software additions (2,208) 0 0
Proceeds from employee stock purchase plan 21,159 19,472 17,806
Proceeds from exercise of stock options 20,995 31,191 32,939
Repurchases of common stock (172,618) 0 0
Taxes paid related to net share settlement of equity awards (18,958) 0 0
Equity repurchases 0 0 (15)
Net cash (used in) provided by financing activities (151,630) 50,663 (232,344)
Effect of exchange rates on cash and cash equivalents (418) (12,089) (8,620)
Net increase in cash and cash equivalents 238,056 223,635 92,381
Cash and cash equivalents, beginning of year 778,983 555,348 462,967
Cash and cash equivalents, end of year 1,017,039 778,983 555,348
Supplemental cash flow data:      
Cash paid for interest 753 851 7,109
Cash paid for (received from) tax, net 117,979 81,360 (14,311)
Non-cash investing and financing activities:      
Capitalized software additions in accounts payable and accrued expenses $ 567 $ 6,073 $ 0

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