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v3.23.1

Financial instruments (Tables) | 12 Months Ended
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Mar. 31, 2023
Disclosure of detailed information about financial instruments [abstract] |
Disclosure of fair value measurement of liabilities | As at March 31, 2023 and 2022, financial instruments measured at fair value in the consolidated balance sheets were as follows:
| March 31, 2023 |  | March 31, 2022
| Fair value hierarchy | Carrying amount | Fair value |  | Fair value hierarchy | Carrying amount | Fair value
|  | $ | $ |  |  | $ | $
Assets: |  |  |  |  |  |  |
Cash and cash equivalents | Level 1 | 800,154 |  | 800,154 |  |  | Level 1 | 953,654 |  | 953,654 |
Restricted cash and restricted deposits | Level 1 | 1,774 |  | 1,774 |  |  | Level 1 | 1,791 |  | 1,791 |
Merchant cash advances | Level 3 | 29,492 |  | 29,492 |  |  | Level 3 | 6,300 |  | 6,300 |
Foreign exchange forward contracts | Level 2 | 0 | 0 |  | Level 2 | 23 |  | 23 |
Investments | Level 3 | 1,519 |  | 1,519 |  |  | — |  | — |  | — |
Liabilities: |  |  |  |  |  |  |
Foreign exchange forward contracts | Level 2 | 125 |  | 125 |  |  | Level 2 | 0 | 0
Financial instruments measured at fair value in the condensed interim consolidated balance sheet | As at March 31, 2023 and 2022, financial instruments measured at fair value in the consolidated balance sheets were as follows:
| March 31, 2023 |  | March 31, 2022
| Fair value hierarchy | Carrying amount | Fair value |  | Fair value hierarchy | Carrying amount | Fair value
|  | $ | $ |  |  | $ | $
Assets: |  |  |  |  |  |  |
Cash and cash equivalents | Level 1 | 800,154 |  | 800,154 |  |  | Level 1 | 953,654 |  | 953,654 |
Restricted cash and restricted deposits | Level 1 | 1,774 |  | 1,774 |  |  | Level 1 | 1,791 |  | 1,791 |
Merchant cash advances | Level 3 | 29,492 |  | 29,492 |  |  | Level 3 | 6,300 |  | 6,300 |
Foreign exchange forward contracts | Level 2 | 0 | 0 |  | Level 2 | 23 |  | 23 |
Investments | Level 3 | 1,519 |  | 1,519 |  |  | — |  | — |  | — |
Liabilities: |  |  |  |  |  |  |
Foreign exchange forward contracts | Level 2 | 125 |  | 125 |  |  | Level 2 | 0 | 0
Disclosure of provision matrix | The loss allowance as at March 31, 2023 and 2022 was determined as follows: 2023
| Not past due | 0–30 | 30–60 | 60–90 | 90–180 | 180+
Expected loss rate | 3 | % | 15 | % | 48 | % | 67 | % | 69 | % | 71 | %
Gross carrying amount | 28,209 |  | 4,649 |  | 1,418 |  | 521 |  | 989 |  | 1,381 |
Loss allowance | 741 |  | 697 |  | 681 |  | 349 |  | 682 |  | 981 |
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 |
Changes in the loss allowance | Changes in the loss allowance were as follows:
| 2023 | 2022
| $ | $
Balance – Beginning of fiscal year | 3,043 |  | 3,519 |
Increase | 3,076 |  | 1,603 |
Write-offs | (1,988) |  | (2,079) |
Balance – End of fiscal year | 4,131 |  | 3,043 |
Maturity of financial liabilities | The maturity analysis of lease liabilities as at March 31, 2023 is as follows:
Fiscal Year | $
2024 | 6,617 |
2025 | 5,672 |
2026 | 4,165 |
2027 | 2,780 |
2028 | 2,139 |
2029 and thereafter | 3,818 |
Total minimum payments | 25,191 |
As at March 31, 2023 and 2022, the maturity analysis of financial liabilities represented the following: 2023
| <1 Year | 1 to 5 Years |  | >5 Years | Total
| $ | $ |  | $ | $
Accounts payable and accrued liabilities | 68,827 |  | — |  |  | — |  | 68,827 |
Other long-term liabilities | — |  | 1,026 |  |  | — |  | 1,026 |
2022
| <1 Year | 1 to 5 Years |  | >5 Years | Total
| $ | $ |  | $ | $
Accounts payable and accrued liabilities | 78,307 |  | — |  |  | — |  | 78,307 |
Other long-term liabilities | — |  | 1,007 |  |  | — |  | 1,007 |
Long-term debt | — |  | 30,000 |  |  | — |  | 30,000 |
Currency Risk |
2023 | CAD | EUR | AUD | GBP | CHF | Other | Total
| $ | $ | $ | $ | $ | $ | $
Cash and cash equivalents and restricted cash | 3,336 |  | 5,828 |  | 2,078 |  | 1,907 |  | 1,456 |  | 1,537 |  | 16,142 |
Trade and other receivables | 3,716 |  | 9,004 |  | 8,199 |  | 1,680 |  | 1,074 |  | 1,883 |  | 25,556 |
Accounts payable and accrued liabilities | (10,615) |  | (8,948) |  | (3,604) |  | (1,561) |  | (1,294) |  | (3,333) |  | (29,355) |
Other long-term liabilities | (231) |  | (267) |  | (68) |  | (119) |  | (48) |  | (5) |  | (738) |
Lease liabilities | (11,805) |  | (3,258) |  | (1,870) |  | (4,085) |  | (866) |  | (211) |  | (22,095) |
Net financial position exposure | (15,599) |  | 2,359 |  | 4,735 |  | (2,178) |  | 322 |  | (129) |  | (10,490) |
2022 | CAD | EUR | AUD | GBP | CHF | Other | Total
| $ | $ | $ | $ | $ | $ | $
Cash and cash equivalents and restricted cash | 13,885 |  | 6,270 |  | 2,522 |  | 1,338 |  | 2,333 |  | 4,103 |  | 30,451 |
Trade and other receivables | 3,454 |  | 4,086 |  | 2,675 |  | 1,472 |  | 628 |  | 483 |  | 12,798 |
Accounts payable and accrued liabilities | (18,508) |  | (5,755) |  | (2,834) |  | (1,466) |  | (1,366) |  | (3,172) |  | (33,101) |
Other long-term liabilities | (287) |  | (270) |  | (53) |  | (142) |  | (37) |  | — |  | (789) |
Lease liabilities | (13,400) |  | (4,447) |  | (477) |  | (4,315) |  | (259) |  | (548) |  | (23,446) |
Net financial position exposure | (14,856) |  | (116) |  | 1,833 |  | (3,113) |  | 1,299 |  | 866 |  | (14,087) |
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, 2023 and 2022. 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 | AUD | GBP | NZD | Other
| $ | $ | $ | $ | $ | $
2023 | (84) |  | (58) |  | 161 |  | 111 |  | (152) |  | 15 |
2022 | (1,347) |  | (1,092) |  | (512) |  | (383) |  | (167) |  | (166) |
Hedging reserve | Hedging reserve
| 2023 | 2022
| $ | $
Balance as at March 31, | 23 |  | — |
Unrealized losses on fair value that may be subsequently reclassified to consolidated statements of loss | (3,386) |  | (337) |
Losses reclassified to direct cost of revenues, general and administrative expenses, research and development expenses, and sales and marketing expenses. | 3,238 |  | 360 |
Balance as at March 31, | (125) |  | 23 |

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