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v3.22.1

Acquisitions (Tables) | 12 Months Ended
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Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract] |
Summary of Fair Values of Assets Acquired and Liabilities Assumed | The fair values of the assets acquired and liabilities assumed at the date of acquisition are presented on a preliminary basis and are as follows 1:
|  | May 25, 2021 |  | Measurement Period Adjustments |  | May 25, 2021 (adjusted)
Assets acquired |  |  |  |  |  |
Cash |  | $ | 71,489 |  |  | $ | — |  |  | $ | 71,489 |
Accounts receivable |  | 64,877 |  |  | 166 |  |  | 65,043 |
Other current assets |  | 10,470 |  |  | — |  |  | 10,470 |
Property and equipment |  | 1,561 |  |  | — |  |  | 1,561 |
Right-of-use asset |  | 13,191 |  |  | — |  |  | 13,191 |
Publisher relationships |  | 106,400 |  |  | (95) |  |  | 106,305 |
Developed technology |  | 86,900 |  |  | — |  |  | 86,900 |
Trade names |  | 32,100 |  |  | 474 |  |  | 32,574 |
Customer relationships |  | 31,400 |  |  | — |  |  | 31,400 |
Favorable lease |  | 1,483 |  |  | — |  |  | 1,483 |
Goodwill |  | 303,015 |  |  | (4,032) |  |  | 298,983 |
Other non-current assets |  | 851 |  |  | — |  |  | 851 |
Total assets acquired |  | $ | 723,737 |  |  | $ | (3,487) |  |  | $ | 720,250 |
Liabilities assumed |  |  |  |  |  |
Accounts payable |  | $ | 78,090 |  |  | $ | (1,501) |  |  | $ | 76,589 |
Accrued license fees and revenue share |  | 5,929 |  |  | — |  |  | 5,929 |
Accrued compensation |  | 52,929 |  |  | — |  |  | 52,929 |
Other current liabilities |  | 12,273 |  |  | (1,739) |  |  | 10,534 |
Short-term debt |  | 25,789 |  |  | — |  |  | 25,789 |
Deferred tax liability, net |  | 25,213 |  |  | 2,167 |  |  | 27,380 |
Other non-current liabilities |  | 15,386 |  |  | — |  |  | 15,386 |
Total liabilities assumed |  | $ | 215,609 |  |  | $ | (1,073) |  |  | $ | 214,536 |
Total purchase price |  | $ | 508,128 |  |  | $ | (2,414) |  |  | $ | 505,714 |
The fair values of the assets acquired and liabilities assumed at the date of acquisition are presented on a preliminary basis and are as follows:
|  | April 29, 2021 |  | Measurement Period Adjustments |  | April 29, 2021 (adjusted)
Assets acquired |  |  |  |  |  |
Cash |  | $ | 24,793 |  |  | $ | — |  |  | $ | 24,793 |
Accounts receivable |  | 57,285 |  |  | — |  |  | 57,285 |
Other current assets |  | 1,845 |  |  | — |  |  | 1,845 |
Property and equipment |  | 1,566 |  |  | — |  |  | 1,566 |
Right-of-use asset |  | 2,460 |  |  | — |  |  | 2,460 |
Customer relationships |  | 102,400 |  |  | (600) |  |  | 101,800 |
Developed technology |  | 51,100 |  |  | — |  |  | 51,100 |
Trade names |  | 36,100 |  |  | (100) |  |  | 36,000 |
Publisher relationships |  | 4,400 |  |  | — |  |  | 4,400 |
Goodwill |  | 202,552 |  |  | (3,502) |  |  | 199,050 |
Other non-current assets |  | 131 |  |  | — |  |  | 131 |
Total assets acquired |  | $ | 484,632 |  |  | $ | (4,202) |  |  | $ | 480,430 |
Liabilities assumed |  |  |  |  |  |
Accounts payable |  | $ | 21,140 |  |  | $ | — |  |  | $ | 21,140 |
Accrued license fees and revenue share |  | 28,920 |  |  | — |  |  | 28,920 |
Accrued compensation |  | 8,453 |  |  | — |  |  | 8,453 |
Other current liabilities |  | 1,867 |  |  | — |  |  | 1,867 |
Deferred tax liability, net |  | 10,520 |  |  | (2,377) |  |  | 8,143 |
Other non-current liabilities |  | 1,770 |  |  | — |  |  | 1,770 |
Total liabilities assumed |  | $ | 72,670 |  |  | $ | (2,377) |  |  | $ | 70,293 |
Total purchase price |  | $ | 411,962 |  |  | $ | (1,825) |  |  | $ | 410,137 |
Summary of Pro Forma Information | The pro forma information includes adjustments to record the assets and liabilities associated with the Acquisitions at their respective fair values, which are preliminary at this time, based on available information and to give effect to the financing for the Acquisitions.
|  |  |  | Year ended March 31,
|  |  |  |  |  | 2022 |  | 2021
|  |  |  |  |  | Unaudited |  | Unaudited
|  |  |  |  | (in thousands, except per share amounts)
Net revenue |  |  |  |  |  | $ | 769,993 |  |  | $ | 544,496 |
Net income attributable to controlling interest |  |  |  |  |  | $ | 16,504 |  |  | $ | 47,096 |
Basic net income attributable to controlling interest per common share |  |  |  |  |  | $ | 0.17 |  |  | $ | 0.51 |
Diluted net income attributable to controlling interest per common share |  |  |  |  |  | $ | 0.16 |  |  | $ | 0.47 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123413009&loc=d3e4845-128472 + Details
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