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v3.24.1.1.u2

Financial instruments (Tables) | 12 Months Ended
--- | ---
Mar. 31, 2024
Disclosure of detailed information about financial instruments [abstract] |
Disclosure of movement in the merchant cash advances | The movement in the merchant cash advances is as follows:
| 2024 | 2023
| $ | $
Balance - Beginning of fiscal year | 29,492 |  | 6,300 |
Principal issued | 165,884 |  | 54,659 |
Principal collected | (132,277) |  | (38,887) |
Transaction-based revenues from fees collected incorporating fair value movement | 17,158 |  | 8,196 |
General & administrative expenses from amounts deemed uncollectible | (6,021) |  | (776) |
Balance - End of fiscal year | 74,236 |  | 29,492 |
Disclosure of fair value measurement of liabilities | As at March 31, 2024 and 2023, financial instruments measured at fair value in the consolidated balance sheets were as follows:
| March 31, 2024 |  | March 31, 2023
| Fair value hierarchy | Carrying amount | Fair value |  | Fair value hierarchy | Carrying amount | Fair value
|  | $ | $ |  |  | $ | $
Assets: |  |  |  |  |  |  |
Cash and cash equivalents | Level 1 | 722,102 |  | 722,102 |  |  | Level 1 | 800,154 |  | 800,154 |
Restricted cash and restricted deposits | Level 1 | 1,950 |  | 1,950 |  |  | Level 1 | 1,774 |  | 1,774 |
Merchant cash advances | Level 3 | 74,236 |  | 74,236 |  |  | Level 3 | 29,492 |  | 29,492 |
Foreign exchange forward contracts | Level 2 | 257 | 257 |  | Level 2 | 0 | 0
Investments | Level 3 | 0 | 0 |  | Level 3 | 1,519 |  | 1,519 |
Liabilities: |  |  |  |  |  |  |
Foreign exchange forward contracts | Level 2 | 0 | 0 |  | Level 2 | 125 | 125
Financial instruments measured at fair value in the condensed interim consolidated balance sheet | As at March 31, 2024 and 2023, financial instruments measured at fair value in the consolidated balance sheets were as follows:
| March 31, 2024 |  | March 31, 2023
| Fair value hierarchy | Carrying amount | Fair value |  | Fair value hierarchy | Carrying amount | Fair value
|  | $ | $ |  |  | $ | $
Assets: |  |  |  |  |  |  |
Cash and cash equivalents | Level 1 | 722,102 |  | 722,102 |  |  | Level 1 | 800,154 |  | 800,154 |
Restricted cash and restricted deposits | Level 1 | 1,950 |  | 1,950 |  |  | Level 1 | 1,774 |  | 1,774 |
Merchant cash advances | Level 3 | 74,236 |  | 74,236 |  |  | Level 3 | 29,492 |  | 29,492 |
Foreign exchange forward contracts | Level 2 | 257 | 257 |  | Level 2 | 0 | 0
Investments | Level 3 | 0 | 0 |  | Level 3 | 1,519 |  | 1,519 |
Liabilities: |  |  |  |  |  |  |
Foreign exchange forward contracts | Level 2 | 0 | 0 |  | Level 2 | 125 | 125
Disclosure of provision matrix | The loss allowance as at March 31, 2024 and 2023 was determined as follows: 2024
| Not past due and limited risk | 0–30 | 30–60 | 60–90 | 90–180 | 180+
Expected loss rate | 3 | % | 12 | % | 31 | % | 48 | % | 63 | % | 69 | %
Gross carrying amount | 38,665 |  | 3,390 |  | 1,314 |  | 626 |  | 1,407 |  | 2,730 |
Loss allowance | 1,172 |  | 407 |  | 407 |  | 300 |  | 886 |  | 1,884 |
2023
| Not past due and limited risk | 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 |
Changes in the loss allowance | Changes in the loss allowance were as follows:
| 2024 | 2023
| $ | $
Balance – Beginning of fiscal year | 4,131 |  | 3,043 |
Increase | 4,015 |  | 3,076 |
Write-offs | (3,090) |  | (1,988) |
Balance – End of fiscal year | 5,056 |  | 4,131 |
Maturity of financial liabilities | The maturity analysis of lease liabilities as at March 31, 2024 is as follows:
Fiscal Year | $
2025 | 6,942 |
2026 | 5,073 |
2027 | 3,676 |
2028 | 3,133 |
2029 | 2,412 |
2030 | 1,975 |
Total minimum payments | 23,211 |
As at March 31, 2024 and 2023, the maturity analysis of financial liabilities represented the following: 2024
| <1 Year | 1 to 5 Years |  | >5 Years | Total
| $ | $ |  | $ | $
Accounts payable and accrued liabilities | 68,679 |  | — |  |  | — |  | 68,679 |
Other long-term liabilities | — |  | 967 |  |  | — |  | 967 |
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 |
Currency Risk | The following table provides a summary of the Company's foreign exchange exposures, after taking into account relevant foreign exchange forward contracts, expressed in thousands of US dollars:
2024 | CAD | EUR | AUD | GBP | NZD | Other | Total
| $ | $ | $ | $ | $ | $ | $
Cash and cash equivalents and restricted cash | 3,039 |  | 4,446 |  | 1,375 |  | 1,638 |  | 2,088 |  | 924 |  | 13,510 |
Trade and other receivables | 13,769 |  | 4,823 |  | 1,403 |  | 1,841 |  | 769 |  | 914 |  | 23,519 |
Merchant cash advances | 10,252 |  | 5,734 |  | 6,958 |  | 5,620 |  | 621 |  | — |  | 29,185 |
Accounts payable and accrued liabilities | (12,952) |  | (9,747) |  | (3,454) |  | (2,208) |  | (2,299) |  | (3,258) |  | (33,918) |
Other long-term liabilities | (275) |  | (224) |  | (67) |  | (174) |  | — |  | (41) |  | (781) |
Lease liabilities | (10,154) |  | (2,971) |  | (1,484) |  | (3,033) |  | (1,456) |  | (948) |  | (20,046) |
Net financial position exposure | 3,679 |  | 2,061 |  | 4,731 |  | 3,684 |  | (277) |  | (2,409) |  | 11,469 |
2023 | CAD | EUR | AUD | GBP | NZD | Other | Total
| $ | $ | $ | $ | $ | $ | $
Cash and cash equivalents and restricted cash | 3,336 |  | 5,828 |  | 2,078 |  | 1,907 |  | 1,302 |  | 1,691 |  | 16,142 |
Trade and other receivables | 1,781 |  | 9,004 |  | 3,915 |  | 1,456 |  | 9 |  | 2,948 |  | 19,113 |
Merchant cash advances | 1,935 |  | — |  | 4,284 |  | 224 |  | — |  | — |  | 6,443 |
Accounts payable and accrued liabilities | (10,615) |  | (8,948) |  | (3,604) |  | (1,561) |  | (2,583) |  | (2,044) |  | (29,355) |
Other long-term liabilities | (231) |  | (267) |  | (68) |  | (119) |  | — |  | (53) |  | (738) |
Lease liabilities | (11,805) |  | (3,258) |  | (1,870) |  | (4,085) |  | (211) |  | (866) |  | (22,095) |
Net financial position exposure | (15,599) |  | 2,359 |  | 4,735 |  | (2,178) |  | (1,483) |  | 1,676 |  | (10,490) |
The table below shows the immediate change in loss before income taxes of a 1% strengthening in the average exchange rate of significant currencies to which the Company has transaction exposure for the fiscal years ended March 31, 2024 and 2023. 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
| $ | $ | $ | $ | $ | $
2024 | (163) |  | 246 |  | 138 |  | (89) |  | (160) |  | (125) |
2023 | (84) |  | (58) |  | 161 |  | 111 |  | (152) |  | 15 |
Hedging reserve | Hedging reserve
| 2024 | 2023
| $ | $
Balance - Beginning of fiscal year | (125) |  | 23 |
Unrealized gains (losses) on fair value that may be subsequently reclassified to consolidated statements of loss | 512 |  | (3,386) |
Losses (gains) reclassified to direct cost of revenues, general and administrative expenses, research and development expenses, and sales and marketing expenses. | (130) |  | 3,238 |
Deferred income tax expense | (68) |  | — |
Balance - Beginning of fiscal year | 189 |  | (125) |

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