v3.24.1.1.u2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:      
Net income $ 154,632 $ 107,959 $ 52,451
Adjustments to reconcile net income to cash provided by operations:      
Depreciation 15,499 12,541 10,638
Amortization 39,441 42,070 46,238
Share-based compensation 208,896 146,874 99,536
Loss on extinguishment of debt 0 5,925 0
Deferred income taxes (59,915) (53,534) (12,401)
Other 11,216 988 1,486
Net change in operating assets and liabilities:      
Accounts receivable (161,888) (94,910) (108,848)
Deferred commissions (23,520) (45,191) (29,533)
Prepaid expenses and other assets (47,401) 26,753 (8,108)
Accounts payable and accrued expenses 37,896 58,680 35,946
Operating leases, net 1,026 1,186 1,353
Deferred revenue 202,227 145,544 162,159
Net cash provided by operating activities 378,109 354,885 250,917
Cash flows from investing activities:      
Purchase of property and equipment (26,459) (21,540) (17,695)
Capitalized software additions (5,268) 0 0
Acquisition of businesses, net of cash acquired (57,111) 0 (13,195)
Purchases of investments (104,210) 0 0
Net cash used in investing activities (193,048) (21,540) (30,890)
Cash flows from financing activities:      
Repayment of term loans 0 (281,125) (120,000)
Debt issuance costs 0 (1,949) 0
Proceeds from employee stock purchase plan 19,472 17,806 13,913
Proceeds from exercise of stock options 31,191 32,939 25,489
Equity repurchases 0 (15) (66)
Net cash provided by (used in) financing activities 50,663 (232,344) (80,664)
Effect of exchange rates on cash and cash equivalents (12,089) (8,620) (1,358)
Net increase in cash and cash equivalents 223,635 92,381 138,005
Cash and cash equivalents, beginning of year 555,348 462,967 324,962
Cash and cash equivalents, end of year 778,983 555,348 462,967
Supplemental cash flow data:      
Cash paid for interest 851 7,109 8,375
Cash paid for tax (received from), net 81,360 (14,311) 24,247
Non-cash investing and financing activities:      
Capitalized software additions in accounts payable and accrued expenses $ 6,073 $ 0 $ 0

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