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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Mar. 31, 2019
OPERATING ACTIVITIES:      
Net loss $ (108,470) $ (102,773) $ (105,386)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation, amortization and loss on disposal of fixed assets 8,620 12,276 12,767
Share-based compensation 4,984 4,467 4,957
Increase in deferred lease rentals 726 293 372
Swiss pension obligation 1,054 756 575
Amortization of deferred debt issue costs 9,079 7,043 5,908
Impairment of short term investments 2,285    
Accrued preference share dividends 1,050 1,050 1,050
Income taxes 1,926 368 44
Net change in assets and liabilities:      
Trade accounts receivable, net 568 (2,177) (637)
Inventories (475) (4,967) (93)
Accounts payable and accrued liabilities (2,514) 2,456 370
Accrued compensation and benefits 4,039 1,218 1,121
Other assets (454) (656) 3,297
Net cash used in operating activities (77,582) (80,646) (75,655)
INVESTING ACTIVITIES:      
Increase in short-term investments (87,247) (95,000) (119,000)
Realization of short-term investments 134,936 69,412 34,735
Purchase of property and equipment (4,240) (4,598) (4,791)
Purchase of intangible assets   (2) (3)
Net cash from (used in) investing activities 43,449 (30,188) (89,059)
FINANCING ACTIVITIES:      
Repayment of finance leases (633) (524) (486)
Proceeds from drawdown of new debt   25,000 36,000
Debt issue costs   (874) (1,216)
Fee paid to noteholders     (3,900)
Proceeds from issuance of ordinary shares and warrants 80,881 90,973 115,024
Net cash generated from financing activities 80,248 114,575 145,422
Effect of exchange rate fluctuations on cash and cash equivalents (4,358) (2,404) 5,690
Change in cash and cash equivalents 41,757 1,337 (13,602)
Beginning cash and cash equivalents 12,940 11,603 25,205
Ending cash and cash equivalents 54,697 12,940 11,603
Supplemental cash flow disclosures:      
Interest paid 17,529 15,776 11,838
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 45,673 3,923 4,096
Restricted cash 9,024 9,017 7,507
Ending cash and cash equivalents $ 54,697 $ 12,940 $ 11,603