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Business Combination (Tables)
9 Months Ended
Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Purchase Price and Purchase Price Allocation The following table summarizes the purchase price and preliminary purchase price allocation as of the date of acquisition:
Purchase price allocation:
Cash consideration$21,032 
Fair value of unregistered restricted stock units4,900 
Fair value of contingent consideration340 
Total purchase price$26,272 
Assets acquired and liabilities assumed:
Cash$32 
Trade accounts receivable239 
Developed technology5,300 
Accrued liabilities(36)
Deferred revenue(98)
Deferred tax liability(1,457)
Total identifiable net assets acquired and liabilities assumed3,980 
Goodwill22,292 
Total purchase price$26,272 
The following table summarizes the preliminary purchase price allocation as of the date of acquisition:
Assets acquired and liabilities assumed:
Trade accounts receivable$1,161 
Other current assets394 
Deferred tax asset377 
Intangible assets18,100 
Accounts payable and accrued liabilities(3,087)
Deferred revenue(8,370)
Total identifiable net assets acquired and liabilities assumed8,575 
Goodwill36,334 
Total purchase price$44,909 
Schedule of Pro Forma Information
The following unaudited pro forma results of operations have been prepared using the acquisition method of accounting to give effect to the Appranix and Clumio acquisitions as though they occurred on April 1, 2023. The pro forma amounts reflect certain adjustments, such as expenses related to the noncash amortization of intangible assets, stock-based compensation, and acquisition-related costs. The fiscal 2025 supplemental pro forma net income was adjusted to exclude $2,340 of acquisition-related costs and $2,486 of expense related to changes in the estimated fair value of contingent consideration incurred in fiscal 2025. The fiscal 2024 supplemental pro forma net income was adjusted to include these charges. In addition, both periods include noncash amortization expenses related to intangible assets and stock-based compensation as if the acquisitions had taken place on April 1, 2023.
The unaudited pro forma financial information is presented for illustrative purposes only, is based on a purchase price allocation, and is not necessarily indicative of the results of operations that would have actually been reported had the acquisitions occurred on April 1, 2023, nor is it necessarily indicative of the future results of operations of the combined companies.
Unaudited
Three Months Ended
December 31,
Nine Months Ended
December 31,
2024202320242023
Revenue $262,630 $222,022 $733,599 $629,574 
Net income$13,922 $3,257 $23,877 $6,408