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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:      
Net income $ 3,274 $ 1,778 $ 7,484
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 17,660 12,990 9,428
Stock-based compensation 9,268 5,525 4,212
Impairment loss on goodwill and long-lived assets 0 298 4,774
Non-cash interest and debt amortization 5,397 3,314 0
Amortization of step-up in inventory basis (436) 8,502 0
Deferred taxes (3,503) (1,971) (2,472)
Other 161 (311) (763)
Cash provided by changes in operating assets and liabilities      
Accounts receivable, net (647) (1,665) 1,592
Inventories 929 414 2,574
Prepaid expenses and other assets 2,878 (432) (2,898)
Accounts payable 967 (61) 1,092
Accrued liabilities and taxes payable (317) (2,147) 5,477
Unearned revenues 1,442 754 54
Net cash provided by operating activities 37,073 26,988 30,554
Cash flows from investing activities:      
Acquisitions 0 (184,102) (4,840)
Purchases of property, plant and equipment (1,992) (1,498) (1,262)
Proceeds from the sale of assets 0 15 2,222
Net cash (used in) investing activities (1,992) (185,585) (3,880)
Cash flows from financing activities:      
Proceeds from the issuance of common stock, net 145,935 84,995 0
Proceeds from the issuance of convertible senior notes, net 0 172,500 0
Proceeds from the issuance of debt 0 0 2,000
Dividends (3,165) (2,722) (2,462)
Payments of contingent consideration (304) (11) (680)
Proceeds from the exercise of stock options 4,426 4,945 5,095
Payment of debt issuance costs (664) (5,430) 0
Payments of debt 0 (23,000) (25,625)
Net cash provided by (used in) financing activities 146,228 231,277 (21,672)
Effect of exchange rate changes on cash and cash equivalents 1,176 (1,485) (286)
Net increase in cash and cash equivalents 182,485 71,195 4,716
Cash and cash equivalents at beginning of period 81,380 10,185 5,469
Cash and cash equivalents at end of period 263,865 81,380 10,185
Supplemental non-cash activity:      
Deferred tax liability related to the conversion option associated with the convertible senior notes 0 7,359 0
Contingent consideration as part of an acquisition 0 490 0
Cash paid for:      
Income taxes paid 1,367 2,634 5,870
Interest paid $ 2,372 $ 1,627 $ 1,637