v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income $ 13,294 $ 12,865
Adjustments to reconcile net income to cash provided by operations:    
Depreciation 2,475 1,590
Amortization 11,512 13,019
Share-based compensation 19,252 12,672
Deferred income taxes (2) (175)
Other (794) 466
Net change in operating assets and liabilities:    
Accounts receivable 110,079 64,265
Deferred commissions (2,631) 2,229
Prepaid expenses and other assets (1,453) 275
Accounts payable and accrued expenses (27,376) (23,212)
Operating leases, net 131 311
Deferred revenue (41,015) (47,297)
Net cash provided by operating activities 83,472 37,008
Cash flows from investing activities:    
Purchase of property and equipment (2,954) (4,418)
Capitalized software additions 0 (131)
Acquisition of business, net of cash acquired (3,543) 0
Net cash used in investing activities (6,497) (4,549)
Cash flows from financing activities:    
Repayment of term loans (30,000) 0
Proceeds from employee stock purchase plan 6,593 3,592
Proceeds from exercise of stock options 7,886 0
Equity repurchases (14) (13)
Net cash (used in) provided by financing activities (15,535) 3,579
Effect of exchange rates on cash and cash equivalents 816 1,169
Net increase in cash and cash equivalents 62,256 37,207
Cash and cash equivalents, beginning of period 324,962 213,170
Cash and cash equivalents, end of period 387,218 250,377
Supplemental cash flow data:    
Cash paid for interest 2,370 3,763
Cash paid for tax, net $ 5,403 $ 10,127

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