v3.25.4
Unaudited condensed consolidated balance sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Mar. 31, 2025
Current assets:    
Cash and cash equivalents $ 952,624 $ 766,103
Accounts receivable, net of allowance of $1,960 and $1,472, respectively 452,235 472,462
Contract assets 443,358 405,890
Inventories 275,292 209,432
Section 45X credit receivable 301,149 215,616
Other current assets 134,941 88,483
Total current assets 2,559,599 2,157,986
Property and equipment, net 84,752 60,395
Goodwill 485,300 371,018
Other intangible assets, net 80,577 53,241
Deferred tax assets 517,646 498,778
Other assets 72,192 51,098
Total assets 3,800,066 3,192,516
Current liabilities:    
Accounts payable 560,075 585,299
Accrued expenses 106,573 97,000
Deferred revenue 321,882 247,127
Other current liabilities 96,242 104,086
Total current liabilities 1,084,772 1,033,512
Tax receivable agreement (TRA) liability 371,179 394,879
Long-term deferred revenue 97,580 96,635
Other liabilities 95,665 39,360
Total liabilities 1,649,196 1,564,386
Commitments and contingencies (Note 8)
Stockholders’ equity:    
Additional paid-in-capital 4,273,641 4,185,823
Accumulated deficit (2,122,130) (2,557,410)
Accumulated other comprehensive loss (656) (298)
Total stockholders’ equity 2,150,870 1,628,130
Total liabilities and stockholders’ equity 3,800,066 3,192,516
Common Class A    
Stockholders’ equity:    
Class A common stock, $0.0001 par value, 900,000,000 shares authorized, 148,447,633 shares and 145,648,231 shares issued and outstanding, respectively $ 15 $ 15