v3.25.1
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 loss $ (413,840) $ (259,336) $ (210,960)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation 49,487 41,116 32,296
Depreciation on property and equipment 377 231 193
Non-cash lease expense 133 1,130 1,131
Changes in operating assets and liabilities:      
Accounts receivable 3,232 (4,577) 11,764
Prepaid expenses and other current assets (26,990) 1,558 (20,533)
Income tax receivable (261) 19 461
Other assets (7,736) 0 0
Accounts payable 10,684 5,784 (17,124)
Accrued expenses 8,923 1,349 15,568
Operating lease liabilities (138) (1,172) (1,145)
Due to Roivant Sciences Ltd. 255 (329) 156
Net cash used in operating activities (375,874) (214,227) (188,193)
Cash flows from investing activities      
Purchases of property and equipment (759) (360) (197)
Net cash used in investing activities (759) (360) (197)
Cash flows from financing activities      
Payment of offering and private placement costs (319) (6,012) (272)
Proceeds from stock options exercised 4,811 5,694 657
Net cash provided by financing activities 454,492 472,427 70,885
Effect of exchange rate changes on cash and cash equivalents 747 993 220
Net change in cash and cash equivalents 78,606 258,833 (117,285)
Cash and cash equivalents – beginning of period 635,365 376,532 493,817
Cash and cash equivalents – end of period 713,971 635,365 376,532
Non-cash operating activity      
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 98 91 0
Supplemental disclosure of cash paid:      
Income taxes 1,202 509 0
Underwritten Offering      
Cash flows from financing activities      
Proceeds from issuance of common stock upon underwritten offering and private placement $ 450,000 $ 472,745 $ 70,500

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