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Consolidated statements of cash flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:      
Net income $ 517,246 $ 496,215 $ 121,333
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of intangible assets 13,407 4,363 4,626
Provision for (recovery of) credit losses (2,399) 2,427 1,243
Non-cash other expense (income) 16,599 (638) 1,609
Amortization of debt issuance cost 1,824 571 143
Stock-based compensation 118,880 56,783 31,994
Deferred income taxes (8,744) (37,990) 25,990
Changes in operating assets and liabilities:      
Accounts receivable (47,648) (113,955) (160,265)
Contract assets (8,767) (99,163) (7,084)
Inventories (2,970) (60,981) 25,062
Tax Credit Receivable (92,086) (125,415) 0
Other current and noncurrent assets 67,916 21,244 (18,984)
Accounts payable 102,905 245,374 (37,026)
Other current and noncurrent liabilities (55,055) (42,468) 21,838
Deferred revenue (current and noncurrent) 34,686 82,606 120,472
Due to related parties 0 0 (23,282)
Net cash provided by operating activities 655,794 428,973 107,669
Cash flows from investing activities:      
Payment for acquisitions, net of cash acquired (152,175) 0 0
Purchases of property and equipment (33,921) (6,160) (3,183)
Proceeds from the disposition of property and equipment 0 0 24
Purchase of intangible assets 0 (500) 0
Net cash used in investing activities (186,096) (6,660) (3,159)
Cash flows from financing activities:      
Proceeds from bank borrowings and long-term debt 0 0 170,000
Repayments of bank borrowings (150,000) 0 (20,000)
Payment of debt issuance cost (6,017) 0 0
TRA payment (15,520) 0 0
Distribution to non-controlling interest holders (6,112) (66,881) (175,000)
Net proceeds from issuance of Class A shares 0 552,009 693,781
Net proceeds from issuance of Class B shares 0 0 76
Purchase of LLC common units from Yuma, Inc. 0 (552,009) (693,781)
Net transfers (to) from Flex 0 (8,335) 24,205
Other financing activities 0 (3,051) (2,853)
Net cash used in financing activities (177,649) (78,267) (3,572)
Net increase in cash and cash equivalents 292,049 344,046 100,938
Cash and cash equivalents beginning of period 474,054 130,008 29,070
Cash and cash equivalents end of period $ 766,103 $ 474,054 $ 130,008