v3.25.4
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities    
Net loss $ (357,750) $ (307,391)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 44,583 37,800
Depreciation on property and equipment 313 268
Non-cash lease expense 73 111
Changes in operating assets and liabilities:    
Accounts receivable 423 3,147
Prepaid expenses and other current assets 4,531 (11,780)
Other assets (1,232) (7,541)
Accounts payable (8,903) 12,988
Accrued expenses and other current liabilities 5,711 7,161
Net cash used in operating activities (312,251) (265,237)
Cash flows from investing activities    
Purchase of property and equipment 0 (558)
Net cash used in investing activities 0 (558)
Cash flows from financing activities    
Proceeds from issuance of common stock upon underwritten offering, net of underwriter discounts and commissions 544,194 0
Payment of offering costs (586) 0
Proceeds from stock options exercised 48,508 3,880
Net cash provided by financing activities 592,116 3,880
Effect of exchange rate changes on cash and cash equivalents 689 1,235
Net change in cash and cash equivalents 280,554 (260,680)
Cash and cash equivalents – beginning of period 713,971 635,365
Cash and cash equivalents – end of period 994,525 374,685
Non-cash operating activity    
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 73 0
Supplemental disclosure of cash paid:    
Income taxes $ 2,437 $ 301

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