• | Subscription and Services revenue of $148.3 million, a year-over-year increase of 37% |
• | Annualized recurring revenue "ARR" of $572.8 million, a year-over-year increase of 42% |
• | GAAP EPS of $0.16 and non-GAAP EPS of $0.11 |
• | Total Revenue of $150.6 million, an increase of 30% compared to $116.2 million in Q4 2019 |
• | Total ARR of $572.8 million, an increase of 42% compared to $403.3 million at the end of Q4 2019 |
• | Subscription and Services revenue of $148.3 million, an increase of 37% compared to $108.6 million in Q4 2019, and representing 98% of total revenue |
• | GAAP Operating Income of $8.0 million and Non-GAAP Operating Income of $36.0 million |
• | GAAP EPS of $0.16 and non-GAAP EPS of $0.11 |
• | Total Revenue of $545.8 million, an increase of 27% compared to $431.0 million in fiscal 2019, 29% adjusted for constant currency |
• | Subscription and Services revenue of $533.1 million, an increase of 36% compared to $390.6 million in fiscal 2019, 39% adjusted for constant currency, and representing 98% of total revenue |
• | Subscription revenue of $487.8 million, an increase of 39% compared to $349.8 million in fiscal 2019, 42% adjusted for constant currency, and representing 89% of total revenue |
• | GAAP Operating Loss of $(171.9) million and Non-GAAP Operating Income of $130.0 million |
• | GAAP EPS of $(1.58) and non-GAAP EPS of $0.31 |
• | Ended the year with 2,373 Dynatrace customers, an increase of 1,009 customers, up 74% for fiscal 2020 |
• | Dynatrace Net Expansion rate of 123%, the 8th consecutive quarter at or above 120% |
• | Dynatrace ARR represents 92% of total ARR, increasing from 70% of total ARR at the end of Q4 2019 |
• | Named a leader for completeness of vision and ability to execute in Gartner Magic Quadrant for APM for the 10th consecutive time and simultaneously earned the highest scores for 5 of 6 critical capabilities in Gartner Critical Capabilities report for APM. |
• | Announced the release of our next generation of infrastructure observability including major enhancements to AI, log monitoring, and data source access to bring greater automation and efficiency to a wider multi-cloud landscape. |
• | Broadened digital experience offering with new mobile platform and framework support with enhanced AI-powered answers and advanced observability for native mobile applications. |
Three Months Ended March 31, | |||||||
2020 | 2019 | ||||||
Annualized recurring revenue | $ | 572,759 | $ | 403,274 | |||
Year-over-Year Increase | 42 | % | |||||
Revenues: | |||||||
Total revenue | $ | 150,577 | $ | 116,168 | |||
Year-over-Year Increase | 30 | % | |||||
Subscription and services revenue | $ | 148,315 | $ | 108,619 | |||
Year-over-Year Increase | 37 | % | |||||
Subscription revenue | $ | 135,366 | $ | 97,856 | |||
Year-over-Year Increase | 38 | % | |||||
Non-GAAP operating income (*) | $ | 35,972 | $ | 25,328 | |||
Non-GAAP operating margin (*) | 24 | % | 22 | % | |||
Non-GAAP net income (*) | $ | 29,762 | $ | 6,529 | |||
Non-GAAP net income per share | $ | 0.11 | $ | 0.03 | |||
Non-GAAP shares outstanding - diluted | 283,302 | 238,900 | |||||
Unlevered Free Cash Flow (*) | $ | 63,302 | $ | 75,692 |
Year Ended March 31, | |||||||
2020 | 2019 | ||||||
Revenues: | |||||||
Total revenue | $ | 545,803 | $ | 430,966 | |||
Year-over-Year Increase | 27 | % | |||||
Total revenue - constant currency (*) | $ | 554,882 | $ | 430,966 | |||
Year-over-Year Increase | 29 | % | |||||
Subscription and services revenue | $ | 533,117 | $ | 390,612 | |||
Year-over-Year Increase | 36 | % | |||||
Subscription and services revenue - constant currency (*) | $ | 541,920 | $ | 390,612 | |||
Year-over-Year Increase | 39 | % | |||||
Subscription revenue | $ | 487,817 | $ | 349,830 | |||
Year-over-Year Increase | 39 | % | |||||
Subscription revenue - constant currency (*) | $ | 495,863 | $ | 349,830 | |||
Year-over-Year Increase | 42 | % | |||||
Non-GAAP operating income (*) | $ | 129,979 | $ | 78,774 | |||
Non-GAAP operating margin (*) | 24 | % | 18 | % | |||
Non-GAAP net income (*) | $ | 83,039 | $ | 31,877 | |||
Non-GAAP net income per share | $ | 0.31 | $ | 0.13 | |||
Non-GAAP shares outstanding - diluted | 269,271 | 237,085 | |||||
Unlevered Free Cash Flow (*) | $ | 149,547 | $ | 184,797 |
• | Total revenue, as reported, is expected to be in the range of $148.0 million to $150.0 million, 24% to 25% growth, when adjusted for constant currency |
• | Non-GAAP operating income is expected to be in the range of $38.0 million to $40.0 million |
• | Non-GAAP net income is expected to be in the range of $26.5 million to $28.0 million |
• | Non-GAAP net income per diluted share is expected to be in the range of $0.09 to $0.10, based on a range of 290 million to 291 million diluted weighted-average shares |
• | Total revenue, as reported, is expected to be in the range of $630.0 million to $643.0 million, 17% to 20% growth, when adjusted for constant currency |
• | Total Subscription revenue, as reported, is expected to be in the range of $591.0 million to $601.0 million, 23% to 25% growth, when adjusted for constant currency |
• | Total ARR is expected to be in the range of $680.0 million to $692.0 million |
• | Non-GAAP operating income is expected to be in the range of $146.0 million to $156.0 million |
• | Non-GAAP net income is expected to be in the range of $115.0 million to $123.0 million |
• | Non-GAAP net income per diluted share is expected to be in the range of $0.39 to $0.42, based on a range of 293 million to 295 million diluted weighted-average shares |
• | Total unlevered free cash flow is expected to be in the range of $180.0 million to $190.0 million |
Three Months Ended March 31, | Twelve Months Ended March 31, | ||||||||||||||
2020 | 2019 | 2020 | 2019 | ||||||||||||
(unaudited) | |||||||||||||||
Revenue: | |||||||||||||||
Subscription | $ | 135,366 | $ | 97,856 | $ | 487,817 | $ | 349,830 | |||||||
License | 2,262 | 7,549 | 12,686 | 40,354 | |||||||||||
Service | 12,949 | 10,763 | 45,300 | 40,782 | |||||||||||
Total revenue | 150,577 | 116,168 | 545,803 | 430,966 | |||||||||||
Cost of revenue: | |||||||||||||||
Cost of subscription | 17,263 | 16,012 | 73,193 | 56,934 | |||||||||||
Cost of service | 10,049 | 9,381 | 39,289 | 31,529 | |||||||||||
Amortization of acquired technology | 3,825 | 4,558 | 16,449 | 18,338 | |||||||||||
Total cost of revenue | 31,137 | 29,951 | 128,931 | 106,801 | |||||||||||
Gross profit | 119,440 | 86,217 | 416,872 | 324,165 | |||||||||||
Operating expenses: | |||||||||||||||
Research and development | 24,509 | 21,530 | 119,281 | 76,759 | |||||||||||
Sales and marketing | 55,594 | 48,219 | 266,175 | 178,886 | |||||||||||
General and administrative | 21,265 | 27,014 | 161,983 | 91,778 | |||||||||||
Amortization of other intangibles | 10,038 | 11,794 | 40,280 | 47,686 | |||||||||||
Restructuring and other | (1 | ) | 1,304 | 1,092 | 1,763 | ||||||||||
Total operating expenses | 111,405 | 109,861 | 588,811 | 396,872 | |||||||||||
Income (loss) from operations | 8,035 | (23,644 | ) | (171,939 | ) | (72,707 | ) | ||||||||
Interest expense, net | (5,682 | ) | (20,603 | ) | (45,397 | ) | (69,845 | ) | |||||||
Other (expense) income, net | (1,504 | ) | 363 | (1,197 | ) | 2,641 | |||||||||
Income (loss) before income taxes | 849 | (43,884 | ) | (218,533 | ) | (139,911 | ) | ||||||||
Income tax benefit (expense) | 45,853 | 13,286 | (199,491 | ) | 23,717 | ||||||||||
Net income (loss) | $ | 46,702 | $ | (30,598 | ) | $ | (418,024 | ) | $ | (116,194 | ) | ||||
Net income (loss) per share: | |||||||||||||||
Basic | $ | 0.17 | $ | (0.13 | ) | $ | (1.58 | ) | $ | (0.49 | ) | ||||
Diluted | $ | 0.16 | $ | (0.13 | ) | $ | (1.58 | ) | $ | (0.49 | ) | ||||
Weighted average shares outstanding: | |||||||||||||||
Basic | 278,665 | 236,667 | 264,933 | 235,939 | |||||||||||
Diluted | 283,302 | 236,667 | 264,933 | 235,939 |
Three Months Ended March 31, | Twelve Months Ended March 31, | ||||||||||||||
2020 | 2019 | 2020 | 2019 | ||||||||||||
(unaudited) | |||||||||||||||
Cost of revenues | $ | 1,339 | $ | 2,311 | $ | 18,685 | $ | 5,777 | |||||||
Research and development | 1,991 | 4,976 | 38,670 | 12,566 | |||||||||||
Sales and marketing | 6,106 | 10,033 | 84,698 | 24,673 | |||||||||||
General and administrative | 3,358 | 11,546 | 80,425 | 28,135 | |||||||||||
Total share-based compensation expense | $ | 12,794 | $ | 28,866 | $ | 222,478 | $ | 71,151 |
March 31, | |||||||
2020 | 2019 | ||||||
Assets | |||||||
Current assets: | |||||||
Cash and cash equivalents | $ | 213,170 | $ | 51,314 | |||
Accounts receivable, net of allowance for doubtful accounts | 157,058 | 115,431 | |||||
Deferred commissions, current | 38,509 | 27,705 | |||||
Prepaid expenses and other current assets | 57,651 | 18,768 | |||||
Total current assets | 466,388 | 213,218 | |||||
Property and equipment, net | 31,508 | 17,925 | |||||
Goodwill | 1,270,733 | 1,270,120 | |||||
Other intangible assets, net | 201,592 | 259,123 | |||||
Deferred tax assets, net | 20,460 | 10,678 | |||||
Deferred commissions, non-current | 39,736 | 31,545 | |||||
Other assets | 7,917 | 7,649 | |||||
Receivable from related party | 3,746 | 1,108 | |||||
Total assets | $ | 2,042,080 | $ | 1,811,366 | |||
Liabilities and shareholders' equity / member's deficit | |||||||
Current liabilities: | |||||||
Accounts payable | $ | 11,112 | $ | 6,559 | |||
Accrued expenses, current | 93,728 | 64,920 | |||||
Current portion of long-term debt | — | 9,500 | |||||
Deferred revenue, current | 384,060 | 272,772 | |||||
Payable to related party | — | 597,150 | |||||
Total current liabilities | 488,900 | 950,901 | |||||
Deferred revenue, non-current | 60,711 | 92,973 | |||||
Accrued expenses, non-current | 20,987 | 98,359 | |||||
Deferred tax liabilities | — | 47,598 | |||||
Long-term debt, net of current portion | 509,985 | 1,011,793 | |||||
Total liabilities | 1,080,583 | 2,201,624 | |||||
Commitments and contingencies | |||||||
Shareholders' equity / member's deficit: | |||||||
Common shares, $0.001 par value, 600,000,000 shares authorized, 280,853,040 shares issued and outstanding at March 31, 2020 | 281 | — | |||||
Common units, no par value, 100 units authorized, issued and outstanding at March 31, 2019 | — | — | |||||
Additional paid-in capital | 1,573,347 | (184,546 | ) | ||||
Accumulated deficit | (594,026 | ) | (176,002 | ) | |||
Accumulated other comprehensive loss | (18,105 | ) | (29,710 | ) | |||
Total shareholders' equity / member's deficit | 961,497 | (390,258 | ) | ||||
Total liabilities and shareholders' equity / member's deficit | $ | 2,042,080 | $ | 1,811,366 |
Year Ended March 31, | |||||||
2020 | 2019 | ||||||
Cash flows from operating activities: | |||||||
Net loss | $ | (418,024 | ) | $ | (116,194 | ) | |
Adjustments to reconcile net loss to cash (used in) provided by operations: | |||||||
Depreciation | 7,864 | 7,319 | |||||
Amortization | 58,457 | 72,792 | |||||
Share-based compensation | 222,478 | 71,151 | |||||
Deferred income taxes | (59,276 | ) | (34,214 | ) | |||
Other | 6,129 | (1,140 | ) | ||||
Net change in operating assets and liabilities: | |||||||
Accounts receivable | (44,021 | ) | 17,979 | ||||
Deferred commissions | (20,107 | ) | (19,968 | ) | |||
Prepaid expenses and other assets | (36,201 | ) | (12,401 | ) | |||
Accounts payable and accrued expenses | 48,879 | 34,787 | |||||
Deferred revenue | 91,367 | 127,030 | |||||
Net cash (used in) provided by operating activities | (142,455 | ) | 147,141 | ||||
Cash flows from investing activities: | |||||||
Purchase of property and equipment | (19,721 | ) | (7,377 | ) | |||
Capitalized software additions | (892 | ) | (1,873 | ) | |||
Net cash used in investing activities | (20,613 | ) | (9,250 | ) | |||
Cash flows from financing activities: | |||||||
Proceeds from initial public offering, net of underwriters' discounts and commissions | 590,297 | — | |||||
Offering costs | (5,000 | ) | — | ||||
Proceeds from term loans | — | 1,120,000 | |||||
Debt issuance costs | (866 | ) | (16,288 | ) | |||
Repayment of term loans | (515,189 | ) | (83,871 | ) | |||
Payments to related parties | — | (1,177,021 | ) | ||||
Contribution for tax associated with reorganization | 265,000 | — | |||||
Equity repurchases | (156 | ) | (649 | ) | |||
Installments related to acquisitions | (4,694 | ) | (3,653 | ) | |||
Net cash provided by (used in) financing activities | 329,392 | (161,482 | ) | ||||
Effect of exchange rates on cash and cash equivalents | (4,468 | ) | (2,676 | ) | |||
Net increase (decrease) in cash and cash equivalents | 161,856 | (26,267 | ) | ||||
Cash and cash equivalents, beginning of year | 51,314 | 77,581 | |||||
Cash and cash equivalents, end of year | $ | 213,170 | $ | 51,314 |
Three Months Ended March 31, 2020 | |||||||||||||||||||
GAAP | Share-based compensation | Amortization of other intangibles | Restructuring & other | Non-GAAP | |||||||||||||||
Non-GAAP operating income: | |||||||||||||||||||
Cost of revenue | $ | 31,137 | $ | (1,339 | ) | $ | (3,825 | ) | $ | — | $ | 25,973 | |||||||
Gross profit | 119,440 | 1,339 | 3,825 | — | 124,604 | ||||||||||||||
Gross margin | 79 | % | 83 | % | |||||||||||||||
Research and development | 24,509 | (1,991 | ) | — | — | 22,518 | |||||||||||||
Sales and marketing | 55,594 | (6,106 | ) | — | — | 49,488 | |||||||||||||
General and administrative | 21,265 | (3,358 | ) | — | (1,281 | ) | 16,626 | ||||||||||||
Amortization of other intangibles | 10,038 | — | (10,038 | ) | — | — | |||||||||||||
Restructuring and other | (1 | ) | — | — | 1 | — | |||||||||||||
Operating income | 8,035 | 12,794 | 13,863 | 1,280 | 35,972 | ||||||||||||||
Operating margin | 5 | % | 24 | % |
Three Months Ended March 31, 2019 | |||||||||||||||||||
GAAP | Share-based compensation | Amortization of other intangibles | Restructuring & other | Non-GAAP | |||||||||||||||
Non-GAAP operating income: | |||||||||||||||||||
Cost of revenue | $ | 29,951 | $ | (2,311 | ) | $ | (4,558 | ) | $ | — | $ | 23,082 | |||||||
Gross profit | 86,217 | 2,311 | 4,558 | — | 93,086 | ||||||||||||||
Gross margin | 74 | % | 80 | % | |||||||||||||||
Research and development | 21,530 | (4,976 | ) | — | — | 16,554 | |||||||||||||
Sales and marketing | 48,219 | (10,033 | ) | — | — | 38,186 | |||||||||||||
General and administrative | 27,014 | (11,546 | ) | — | (2,450 | ) | 13,018 | ||||||||||||
Amortization of other intangibles | 11,794 | — | (11,794 | ) | — | — | |||||||||||||
Restructuring and other | 1,304 | — | — | (1,304 | ) | — | |||||||||||||
Operating (loss) income | (23,644 | ) | 28,866 | 16,352 | 3,754 | 25,328 | |||||||||||||
Operating margin | (20 | )% | 22 | % |
Three Months Ended March 31, | |||||||
2020 | 2019 | ||||||
Non-GAAP net income: | |||||||
Net income (loss) | $ | 46,702 | $ | (30,598 | ) | ||
Income tax benefit | (45,853 | ) | (13,286 | ) | |||
Cash paid for tax | 1,573 | (2,477 | ) | ||||
Related party tax | (2,216 | ) | — | ||||
Interest expense, net | 5,682 | 20,603 | |||||
Cash paid for interest | (5,567 | ) | (16,322 | ) | |||
Share-based compensation | 12,794 | 28,866 | |||||
Amortization of other intangibles | 10,038 | 11,794 | |||||
Amortization of acquired technology | 3,825 | 4,558 | |||||
Transaction and sponsor related costs | 1,281 | 2,450 | |||||
Restructuring and other | (1 | ) | 1,304 | ||||
Loss (gain) on currency translation | 1,504 | (363 | ) | ||||
Non-GAAP net income | $ | 29,762 | $ | 6,529 | |||
Share count: | |||||||
Weighted-average shares outstanding - basic | 278,665 | 236,667 | |||||
Weighted-average shares outstanding - diluted | 283,302 | 236,667 | |||||
Shares used in non-GAAP per share calculations: | |||||||
Weighted-average shares outstanding - basic | 278,665 | 236,667 | |||||
Weighted-average shares outstanding - diluted | 283,302 | 238,900 | |||||
Net income (loss) per share: | |||||||
Net income (loss) per share - basic | $ | 0.17 | $ | (0.13 | ) | ||
Net income (loss) per share - diluted | $ | 0.16 | $ | (0.13 | ) | ||
Non-GAAP net income per share - basic | $ | 0.11 | $ | 0.03 | |||
Non-GAAP net income per share - diluted | $ | 0.11 | $ | 0.03 |
Three Months Ended March 31, | |||||||
2020 | 2019 | ||||||
Adjusted EBITDA: | |||||||
Net income (loss) | $ | 46,702 | $ | (30,598 | ) | ||
Income tax benefit | (45,853 | ) | (13,286 | ) | |||
Interest expense, net | 5,682 | 20,603 | |||||
Amortization | 14,359 | 17,940 | |||||
Depreciation | 1,887 | 1,894 | |||||
Restructuring and other | (1 | ) | 1,304 | ||||
Transaction and sponsor related costs | 1,281 | 2,450 | |||||
Loss (gain) on currency translation | 1,504 | (363 | ) | ||||
Share-based compensation | 12,794 | 28,866 | |||||
Adjusted EBITDA | $ | 38,355 | $ | 28,810 |
Three Months Ended March 31, | |||||||
2020 | 2019 | ||||||
Unlevered Free Cash Flow ("uFCF") (After tax adjustment): | |||||||
Net cash provided by operating activities | $ | 64,641 | $ | 62,208 | |||
Cash paid for interest expense | 5,567 | 16,322 | |||||
Restructuring and other | (1 | ) | 1,304 | ||||
Purchase of property, plant, and equipment | (4,578 | ) | (2,511 | ) | |||
Transaction and sponsor related costs | 1,281 | 2,450 | |||||
Related party tax | (2,216 | ) | — | ||||
Total uFCF | 64,694 | 79,773 | |||||
Interest tax adjustment | (1,392 | ) | (4,081 | ) | |||
uFCF (After tax adjustment) | $ | 63,302 | $ | 75,692 |
Year Ended March 31, 2020 | |||||||||||||||||||
GAAP | Share-based compensation | Amortization of other intangibles | Restructuring & other | Non-GAAP | |||||||||||||||
Non-GAAP operating income: | |||||||||||||||||||
Cost of revenue | $ | 128,931 | $ | (18,685 | ) | $ | (16,449 | ) | $ | — | $ | 93,797 | |||||||
Gross profit | 416,872 | 18,685 | 16,449 | — | 452,006 | ||||||||||||||
Gross margin | 76 | % | 83 | % | |||||||||||||||
Research and development | 119,281 | (38,670 | ) | — | — | 80,611 | |||||||||||||
Sales and marketing | 266,175 | (84,698 | ) | — | — | 181,477 | |||||||||||||
General and administrative | 161,983 | (80,425 | ) | — | (21,619 | ) | 59,939 | ||||||||||||
Amortization of other intangibles | 40,280 | — | (40,280 | ) | — | — | |||||||||||||
Restructuring and other | 1,092 | — | — | (1,092 | ) | — | |||||||||||||
Operating (loss) income | (171,939 | ) | 222,478 | 56,729 | 22,711 | 129,979 | |||||||||||||
Operating margin | (32 | )% | 24 | % |
Year Ended March 31, 2019 | |||||||||||||||||||
GAAP | Share-based compensation | Amortization of other intangibles | Restructuring & other | Non-GAAP | |||||||||||||||
Non-GAAP operating income: | |||||||||||||||||||
Cost of revenue | $ | 106,801 | $ | (5,777 | ) | $ | (18,338 | ) | $ | — | $ | 82,686 | |||||||
Gross profit | 324,165 | 5,777 | 18,338 | — | 348,280 | ||||||||||||||
Gross margin | 75 | % | 81 | % | |||||||||||||||
Research and development | 76,759 | (12,566 | ) | — | — | 64,193 | |||||||||||||
Sales and marketing | 178,886 | (24,673 | ) | — | — | 154,213 | |||||||||||||
General and administrative | 91,778 | (28,135 | ) | — | (12,543 | ) | 51,100 | ||||||||||||
Amortization of other intangibles | 47,686 | — | (47,686 | ) | — | — | |||||||||||||
Restructuring and other | 1,763 | — | — | (1,763 | ) | — | |||||||||||||
Operating (loss) income | (72,707 | ) | 71,151 | 66,024 | 14,306 | 78,774 | |||||||||||||
Operating margin | (17 | )% | 18 | % |
Year Ended March 31, | |||||||
2020 | 2019 | ||||||
Non-GAAP net income: | |||||||
Net loss | $ | (418,024 | ) | $ | (116,194 | ) | |
Income tax expense (benefit) | 199,491 | (23,717 | ) | ||||
Cash paid for tax | (266,708 | ) | (5,928 | ) | |||
Tax associated with reorganization | 255,800 | — | |||||
Related party tax | 3,536 | — | |||||
Interest expense, net | 45,397 | 69,845 | |||||
Cash paid for interest | (39,568 | ) | (40,969 | ) | |||
Share-based compensation | 222,478 | 71,151 | |||||
Amortization of other intangibles | 40,280 | 47,686 | |||||
Amortization of acquired technology | 16,449 | 18,338 | |||||
Transaction and sponsor related costs | 21,619 | 12,543 | |||||
Restructuring and other | 1,092 | 1,763 | |||||
Loss (gain) on currency translation | 1,197 | (2,641 | ) | ||||
Non-GAAP net income | $ | 83,039 | $ | 31,877 | |||
Share count: | |||||||
Weighted-average shares outstanding - basic | 264,933 | 235,939 | |||||
Weighted-average shares outstanding - diluted | 264,933 | 235,939 | |||||
Shares used in non-GAAP per share calculations: | |||||||
Weighted-average shares outstanding - basic | 264,933 | 235,939 | |||||
Weighted-average shares outstanding - diluted | 269,271 | 237,085 | |||||
Net income (loss) per share: | |||||||
Net loss per share - basic | $ | (1.58 | ) | $ | (0.49 | ) | |
Net loss per share - diluted | $ | (1.58 | ) | $ | (0.49 | ) | |
Non-GAAP net income per share - basic | $ | 0.31 | $ | 0.14 | |||
Non-GAAP net income per share - diluted | $ | 0.31 | $ | 0.13 |
Year Ended March 31, | |||||||
2020 | 2019 | ||||||
Adjusted EBITDA: | |||||||
Net loss | $ | (418,024 | ) | $ | (116,194 | ) | |
Income tax expense (benefit) | 199,491 | (23,717 | ) | ||||
Interest expense, net | 45,397 | 69,845 | |||||
Amortization | 58,457 | 72,792 | |||||
Depreciation | 7,864 | 7,319 | |||||
Restructuring and other | 1,092 | 1,763 | |||||
Transaction and sponsor related costs | 21,619 | 12,543 | |||||
Loss (gain) on currency translation | 1,197 | (2,641 | ) | ||||
Share-based compensation | 222,478 | 71,151 | |||||
Adjusted EBITDA | $ | 139,571 | $ | 92,861 |
Year Ended March 31, | |||||||
2020 | 2019 | ||||||
Unlevered Free Cash Flow ("uFCF") (After tax adjustment): | |||||||
Net cash (used in) provided by operating activities | $ | (142,455 | ) | $ | 147,141 | ||
Cash paid for interest expense | 39,568 | 40,969 | |||||
Restructuring and other | 1,092 | 1,763 | |||||
Purchase of property, plant, and equipment | (19,721 | ) | (7,377 | ) | |||
Transaction and sponsor related costs | 21,619 | 12,543 | |||||
Tax associated with reorganization | 255,800 | — | |||||
Related party tax | 3,536 | — | |||||
Total uFCF | 159,439 | 195,039 | |||||
Interest tax adjustment | (9,892 | ) | (10,242 | ) | |||
uFCF (After tax adjustment) | $ | 149,547 | $ | 184,797 |
March 31, 2020 | |||
Adjusted EBITDA/Net Debt Leverage Ratio: | |||
Long-term debt | $ | 509,985 | |
Cash | 213,170 | ||
Net debt | 296,815 | ||
TTM Adjusted EBITDA | $ | 139,571 | |
Leverage Ratio | 2.1 | x |