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v3.22.1

Financial instruments (Tables) | 12 Months Ended
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Mar. 31, 2022
Disclosure of detailed information about financial instruments [abstract] |
Disclosure of fair value measurement of liabilities | , financial instruments measured at fair value in the consolidated balance sheets were as follows:
| March 31, 2022 |  | March 31, 2021
| Fair value hierarchy | Carrying amount | Fair value |  | Fair value hierarchy | Carrying amount | Fair value
|  | $ | $ |  |  | $ | $
Assets: |  |  |  |  |  |  |
Cash and cash equivalents | Level 1 | 953,654 |  | 953,654 |  |  | Level 1 | 807,150 |  | 807,150 |
Restricted cash and restricted deposits | Level 1 | 1,791 |  | 1,791 |  |  | Level 1 | 9,074 |  | 9,074 |
Merchant cash advances | Level 3 | 6,300 |  | 6,300 |  |  | Level 3 | 2,309 |  | 2,309 |
Foreign exchange forward contracts | Level 2 | 23 |  | 23 |  |  | — |  | — |  | — |
Liabilities: |  |  |  |  |  |  |
Contingent consideration | — |  | — |  | — |  |  | Level 3 | 0 | 0
Financial instruments measured at fair value in the condensed interim consolidated balance sheet | , financial instruments measured at fair value in the consolidated balance sheets were as follows:
| March 31, 2022 |  | March 31, 2021
| Fair value hierarchy | Carrying amount | Fair value |  | Fair value hierarchy | Carrying amount | Fair value
|  | $ | $ |  |  | $ | $
Assets: |  |  |  |  |  |  |
Cash and cash equivalents | Level 1 | 953,654 |  | 953,654 |  |  | Level 1 | 807,150 |  | 807,150 |
Restricted cash and restricted deposits | Level 1 | 1,791 |  | 1,791 |  |  | Level 1 | 9,074 |  | 9,074 |
Merchant cash advances | Level 3 | 6,300 |  | 6,300 |  |  | Level 3 | 2,309 |  | 2,309 |
Foreign exchange forward contracts | Level 2 | 23 |  | 23 |  |  | — |  | — |  | — |
Liabilities: |  |  |  |  |  |  |
Contingent consideration | — |  | — |  | — |  |  | Level 3 | 0 | 0
Disclosure of provision matrix | The loss allowance as at March 31, 2022 and 2021 was determined as follows: 2022
| Not past due | 0–30 | 30–60 | 60–90 | 90–180 | 180+
Expected loss rate | 3 | % | 14 | % | 46 | % | 64 | % | 68 | % | 70 | %
Gross carrying amount | 17,279 |  | 2,212 |  | 617 |  | 213 |  | 577 |  | 1,996 |
Loss allowance | 518 |  | 310 |  | 284 |  | 136 |  | 392 |  | 1,403 |
2021
| Not past due | 0–30 | 30–60 | 60–90 | 90–180 | 180+
Expected loss rate | 3 | % | 14 | % | 41 | % | 55 | % | 63 | % | 67 | %
Gross carrying amount | 9,328 |  | 1,087 |  | 917 |  | 231 |  | 1,156 |  | 2,758 |
Loss allowance | 280 |  | 152 |  | 376 |  | 127 |  | 728 |  | 1,856 |
Changes in the loss allowance | Changes in the loss allowance were as follows:
| 2022 | 2021
| $ | $
Balance – Beginning of fiscal year | 3,519 |  | 2,878 |
Increase | 1,603 |  | 2,777 |
Write-offs | (2,079) |  | (2,136) |
Balance – End of fiscal year | 3,043 |  | 3,519 |
Maturity of financial liabilities | The maturity analysis of lease liabilities as at March 31, 2022 is as follows:
Fiscal Year | $
2023 | 7,633 |
2024 | 6,032 |
2025 | 5,165 |
2026 | 3,583 |
2027 | 2,395 |
2028 and thereafter | 5,862 |
Total minimum payments | 30,670 |
As at March 31, 2022 and 2021, the maturity analysis of financial liabilities represented the following: 2022
| <1 Year | 1 to 3 Years | 4 to 5 Years | >5 Years | Total
| $ | $ | $ | $ | $
Accounts payable and accrued liabilities | 78,307 |  | — |  | — |  | — |  | 78,307 |
Accrued payroll taxes on share-based compensation | — |  | 1,007 |  | — |  | — |  | 1,007 |
Long-term debt | — |  | 30,000 |  | — |  | — |  | 30,000 |
2021
| <1 Year | 1 to 3 Years | 4 to 5 Years | >5 Years | Total
| $ | $ | $ | $ | $
Accounts payable and accrued liabilities | 65,052 |  | — |  | — |  | — |  | 65,052 |
Accrued payroll taxes on share-based compensation | — |  | 3,154 |  | — |  | — |  | 3,154 |
Long-term debt | — |  | — |  | 30,000 |  | — |  | 30,000 |
Currency Risk |
2022 | CAD | EUR | GBP | AUD | NZD | Other | Total
| $ | $ | $ | $ | $ | $ | $
Cash and cash equivalents and restricted cash | 13,885 |  | 6,270 |  | 1,338 |  | 2,522 |  | 2,651 |  | 3,785 |  | 30,451 |
Trade and other receivables | 3,454 |  | 4,086 |  | 1,472 |  | 2,675 |  | 49 |  | 1,062 |  | 12,798 |
Accounts payable and accrued liabilities | (18,508) |  | (5,755) |  | (1,466) |  | (2,834) |  | (2,407) |  | (2,131) |  | (33,101) |
Accrued payroll taxes on share-based compensation | (287) |  | (270) |  | (142) |  | (53) |  | — |  | (37) |  | (789) |
Lease liabilities | (13,400) |  | (4,447) |  | (4,315) |  | (477) |  | (548) |  | (259) |  | (23,446) |
Net financial position exposure | (14,856) |  | (116) |  | (3,113) |  | 1,833 |  | (255) |  | 2,420 |  | (14,087) |
2021 | CAD | EUR | GBP | AUD | NZD | Other | Total
| $ | $ | $ | $ | $ | $ | $
Cash and cash equivalents and restricted cash | 3,141 |  | 15,913 |  | 470 |  | 958 |  | — |  | 1,649 |  | 22,131 |
Trade and other receivables | 5,122 |  | 2,740 |  | 469 |  | 793 |  | — |  | 1,030 |  | 10,154 |
Accounts payable and accrued liabilities | (13,729) |  | (18,898) |  | (2,154) |  | (4,529) |  | (484) |  | (826) |  | (40,620) |
Accrued payroll taxes on share-based compensation | (1,816) |  | (622) |  | (309) |  | (239) |  | (42) |  | (36) |  | (3,064) |
Lease liabilities | (14,102) |  | (3,214) |  | (842) |  | (646) |  | — |  | (517) |  | (19,321) |
Net financial position exposure | (21,384) |  | (4,081) |  | (2,366) |  | (3,663) |  | (526) |  | 1,300 |  | (30,720) |
The table below shows the immediate increase/(decrease) in net loss before tax of a 1% strengthening in the average exchange rate of significant currencies to which the Company has transaction exposure as at March 31, 2022 and 2021. The sensitivity associated with a 1% weakening of a particular currency would be equal and opposite. This assumes that each currency moves in isolation.
| CAD | EUR | GBP | AUD | NZD | Other
| $ | $ | $ | $ | $ | $
2022 | (1,347) |  | (1,092) |  | (383) |  | (512) |  | (167) |  | (166) |
2021 | (590) |  | (84) |  | 20 |  | (20) |  | (6) |  | (12) |
Hedging reserve | Hedging reserve
| 2022 | 2021
| $ | $
Balance as at March 31, | — |  | — |
Unrealized losses on fair value that may be subsequently reclassified to consolidated statements of loss | (337) |  | — |
Losses reclassified to direct cost of revenues, general and administrative expenses, research and development expenses, and sales and marketing expenses. | 360 |  | — |
Balance as at March 31, | 23 |  | — |

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