COVER PAGE
COVER PAGE - USD ($) | 12 Months Ended | ||
Mar. 31, 2021 | May 24, 2021 | Sep. 30, 2020 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Mar. 31, 2021 | ||
Current Fiscal Year End Date | --03-31 | ||
Document Transition Report | false | ||
Entity File Number | 001-38669 | ||
Entity Registrant Name | LiveRamp Holdings, Inc. | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 83-1269307 | ||
Entity Address, Address Line One | 225 Bush Street, Seventeenth Floor | ||
Entity Address, City or Town | San Francisco | ||
Entity Address, State or Province | CA | ||
Entity Address, Postal Zip Code | 94104 | ||
City Area Code | 866 | ||
Local Phone Number | 352-3267 | ||
Title of 12(b) Security | Common Stock, $.10 Par Value | ||
Trading Symbol | RAMP | ||
Security Exchange Name | NYSE | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | true | ||
Entity Shell Company | false | ||
Entity Public Float | $ 2,540,524,482 | ||
Entity Common Stock, Shares Outstanding | 68,413,401 | ||
Documents Incorporated by Reference | Portions of the Proxy Statement for the 2021 Annual Meeting of Stockholders (“2021 Proxy Statement”) of LiveRamp Holdings, Inc. (“LiveRamp,” the “Company,” “we”, “us”, or “our”) are incorporated by reference into Part III of this Form 10-K. | ||
Entity Central Index Key | 0000733269 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2021 | ||
Document Fiscal Period Focus | FY |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) | Mar. 31, 2021 | Mar. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 572,787,000 | $ 717,811,000 |
Restricted cash | 8,900,000 | 14,815,000 |
Trade accounts receivable, net | 114,284,000 | 92,761,000 |
Refundable income taxes | 65,692,000 | 38,340,000 |
Other current assets | 64,052,000 | 32,666,000 |
Total current assets | 825,715,000 | 896,393,000 |
Property and equipment, net of accumulated depreciation and amortization | 11,957,000 | 19,321,000 |
Intangible assets, net | 39,730,000 | 45,200,000 |
Goodwill | 357,446,000 | 297,796,000 |
Deferred commissions, net | 22,619,000 | 16,014,000 |
Other assets, net | 30,854,000 | 27,165,000 |
Total assets | 1,288,321,000 | 1,301,889,000 |
Current liabilities: | ||
Trade accounts payable | 39,955,000 | 42,204,000 |
Accrued payroll and related expenses | 46,438,000 | 28,791,000 |
Other accrued expenses | 58,353,000 | 68,991,000 |
Acquisition escrow payable | 8,900,000 | 14,815,000 |
Deferred revenue | 11,603,000 | 6,581,000 |
Total current liabilities | 165,249,000 | 161,382,000 |
Other liabilities | 42,389,000 | 52,995,000 |
Commitments and contingencies | ||
Stockholders' equity: | ||
Preferred stock, $1.00 par value (authorized 1 million shares; issued 0 shares at March 31, 2021 and 2020, respectively) | 0 | 0 |
Common stock, $0.10 par value (authorized 200 million shares; issued 147.8 million and 143.9 million shares at March 31, 2021 and 2020, respectively) | 14,781,000 | 14,394,000 |
Additional paid-in capital | 1,630,072,000 | 1,496,565,000 |
Retained earnings | 1,454,826,000 | 1,545,094,000 |
Accumulated other comprehensive income | 7,522,000 | 5,745,000 |
Treasury stock, at cost (79.6 million and 78.1 million shares at March 31, 2021 and 2020, respectively) | (2,026,518,000) | (1,974,286,000) |
Total stockholders' equity | 1,080,683,000 | 1,087,512,000 |
Total stockholders' equity | $ 1,288,321,000 | $ 1,301,889,000 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Mar. 31, 2021 | Mar. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par or stated value (in dollars per shares) | $ 1 | $ 1 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock issued (in shares) | 0 | 0 |
Common stock, par or stated value (in dollars per share) | $ 0.10 | $ 0.10 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, issued (in shares) | 147,800,000 | 143,900,000 |
Treasury stock, at cost (in shares) | 79,600,000 | 78,100,000 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Income Statement [Abstract] | |||
Revenues | $ 443,026 | $ 380,572 | $ 285,620 |
Cost of revenue | 144,004 | 152,704 | 120,718 |
Gross profit | 299,022 | 227,868 | 164,902 |
Operating expenses: | |||
Research and development | 135,111 | 105,981 | 85,697 |
Sales and marketing | 177,543 | 188,905 | 158,540 |
General and administrative | 104,201 | 108,903 | 98,878 |
Gains, losses and other items, net | 2,715 | 5,001 | 19,933 |
Total operating expenses | 419,570 | 408,790 | 363,048 |
Loss from operations | (120,548) | (180,922) | (198,146) |
Total other income (expense) | (252) | 15,385 | 18,790 |
Loss from continuing operations before income taxes | (120,800) | (165,537) | (179,356) |
Income tax benefit | (30,532) | (40,276) | (45,409) |
Net loss from continuing operations | (90,268) | (125,261) | (133,947) |
Earnings from discontinued operations, net of tax | 0 | 750 | 1,162,494 |
Net earnings (loss) | $ (90,268) | $ (124,511) | $ 1,028,547 |
Basic earnings (loss) per share: | |||
Basic earnings (loss) per share from continuing operations (in dollars per share) | $ (1.36) | $ (1.85) | $ (1.79) |
Basic earnings (loss) per share from discontinued operations (in dollars per share) | 0 | 0.01 | 15.50 |
Basic earnings (loss) per share (in USD per share) | (1.36) | (1.84) | 13.71 |
Diluted earnings (loss) per share: | |||
Diluted earnings (loss) per share from continuing operations (in dollars per share) | (1.36) | (1.85) | (1.79) |
Diluted earnings (loss) per share from discontinued operations (in dollars per share) | 0 | 0.01 | 15.50 |
Diluted earnings (loss) per share (in USD per share) | $ (1.36) | $ (1.84) | $ 13.71 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Statement of Comprehensive Income [Abstract] | |||
Net earnings (loss) | $ (90,268) | $ (124,511) | $ 1,028,547 |
Other comprehensive income (loss): | |||
Change in foreign currency translation adjustment | 1,777 | (2,056) | (2,966) |
Comprehensive income (loss) | $ (88,491) | $ (126,567) | $ 1,025,581 |
CONSOLIDATED STATEMENTS OF EQUI
CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands | Total | Cumulative Effect, Period of Adoption, Adjustment | Common Stock | Additional paid-in Capital | Retained earnings | Retained earningsCumulative Effect, Period of Adoption, Adjustment | Accumulated other comprehensive income (loss) | Treasury Stock |
Balance, beginning of the period (in shares) at Mar. 31, 2018 | 136,079,676 | (58,304,917) | ||||||
Balance, beginning of the period at Mar. 31, 2018 | $ 749,095 | $ 12,727 | $ 13,609 | $ 1,235,679 | $ 628,331 | $ 12,727 | $ 10,767 | $ (1,139,291) |
Increase (Decrease) in Stockholders' Equity | ||||||||
Employee stock awards, benefit plans and other issuances (in shares) | 1,330,757 | (1,202,243) | ||||||
Employee stock awards, benefit plans and other issuances | (30,101) | $ 133 | 20,286 | $ (50,520) | ||||
Non-cash stock-based compensation (in shares) | 415,706 | |||||||
Non-cash stock-based compensation | 88,483 | $ 41 | 88,442 | |||||
Non-cash stock-based compensation from discontinued operations | 62,861 | 62,861 | ||||||
Restricted stock units vested (in shares) | 4,039,749 | |||||||
Restricted stock units vested | 0 | $ 404 | (404) | |||||
Warrant exercises (in shares) | 3,488 | |||||||
Warrant exercises | 0 | (51) | $ 51 | |||||
Tender offer (in shares) | (11,235,955) | |||||||
Tender offer | (503,393) | $ (503,393) | ||||||
Acquisition of treasury stock (in shares) | (2,428,265) | |||||||
Acquisition of treasury stock | (74,421) | $ (74,421) | ||||||
Other comprehensive income (loss): | ||||||||
Foreign currency translation | (2,966) | (2,966) | ||||||
Net earnings (loss) | 1,028,547 | 1,028,547 | ||||||
Balance, end of the period (in shares) at Mar. 31, 2019 | 141,865,888 | (73,167,892) | ||||||
Balance, end of the period at Mar. 31, 2019 | 1,330,832 | $ 14,187 | 1,406,813 | 1,669,605 | 7,801 | $ (1,767,574) | ||
Increase (Decrease) in Stockholders' Equity | ||||||||
Employee stock awards, benefit plans and other issuances (in shares) | 266,011 | (537,694) | ||||||
Employee stock awards, benefit plans and other issuances | (19,786) | $ 27 | 4,709 | $ (24,522) | ||||
Non-cash stock-based compensation (in shares) | 71,211 | |||||||
Non-cash stock-based compensation | 65,219 | $ 7 | 65,212 | |||||
Restricted stock units vested (in shares) | 1,342,337 | |||||||
Restricted stock units vested | 0 | $ 134 | (134) | |||||
Liability-classified restricted stock units vested (in shares) | 393,306 | |||||||
Liability-classified restricted stock units vested | 17,704 | $ 39 | 17,665 | |||||
Acquisition-related replacement stock options | 2,300 | 2,300 | ||||||
Acquisition of treasury stock (in shares) | (4,375,728) | |||||||
Acquisition of treasury stock | (182,190) | $ (182,190) | ||||||
Other comprehensive income (loss): | ||||||||
Foreign currency translation | (2,056) | (2,056) | ||||||
Net earnings (loss) | (124,511) | (124,511) | ||||||
Balance, end of the period (in shares) at Mar. 31, 2020 | 143,938,753 | (78,081,314) | ||||||
Balance, end of the period at Mar. 31, 2020 | 1,087,512 | $ 14,394 | 1,496,565 | 1,545,094 | 5,745 | $ (1,974,286) | ||
Increase (Decrease) in Stockholders' Equity | ||||||||
Employee stock awards, benefit plans and other issuances (in shares) | 583,476 | (182,730) | ||||||
Employee stock awards, benefit plans and other issuances | (1,182) | $ 58 | 8,680 | $ (9,920) | ||||
Non-cash stock-based compensation (in shares) | 21,736 | |||||||
Non-cash stock-based compensation | 84,396 | $ 2 | 84,394 | |||||
Restricted stock units vested (in shares) | 2,186,763 | |||||||
Restricted stock units vested | 0 | $ 219 | (219) | |||||
Liability-classified restricted stock units vested (in shares) | 1,084,237 | |||||||
Liability-classified restricted stock units vested | 40,760 | $ 108 | 40,652 | |||||
Acquisition of treasury stock (in shares) | (1,321,666) | |||||||
Acquisition of treasury stock | (42,312) | $ (42,312) | ||||||
Other comprehensive income (loss): | ||||||||
Foreign currency translation | 1,777 | 1,777 | ||||||
Net earnings (loss) | (90,268) | (90,268) | ||||||
Balance, end of the period (in shares) at Mar. 31, 2021 | 147,814,965 | (79,585,710) | ||||||
Balance, end of the period at Mar. 31, 2021 | $ 1,080,683 | $ 14,781 | $ 1,630,072 | $ 1,454,826 | $ 7,522 | $ (2,026,518) |
CONSOLIDATED STATEMENTS OF CASH
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 earnings (loss) | $ (90,268) | $ (124,511) | $ 1,028,547 |
Earnings from discontinued operations | 0 | (750) | (1,162,494) |
Non-cash operating activities: | |||
Depreciation and amortization | 27,741 | 35,901 | 33,782 |
Loss on disposal or impairment of assets | 388 | 1,725 | 3,460 |
Provision for doubtful accounts | 2,915 | 7,133 | 3,069 |
Deferred income taxes | (1,418) | (6,878) | 9,894 |
Non-cash stock compensation expense | 111,707 | 89,447 | 102,722 |
Changes in operating assets and liabilities: | |||
Accounts receivable, net | (24,828) | (20,518) | (44,411) |
Deferred commissions | (6,605) | (5,273) | (4,298) |
Other assets | (18,772) | (6,144) | (3,106) |
Accounts payable and other liabilities | (116) | 24,923 | 25,308 |
Income taxes, net | (26,215) | (25,453) | 5,087 |
Deferred revenue | 4,911 | 1,823 | 462 |
Net cash used in operating activities | (20,560) | (28,575) | (1,978) |
Cash flows from investing activities: | |||
Capitalized software | 0 | 0 | (1,322) |
Capital expenditures | (2,182) | (11,711) | (7,320) |
Proceeds from sales of assets | 0 | 873 | 0 |
Cash paid in acquisitions, net of cash received | (76,012) | (105,365) | 0 |
Purchases of investments | (7,500) | 0 | 0 |
Purchases of strategic investments | (2,200) | 0 | (2,500) |
Net cash used in investing activities | (87,894) | (116,203) | (11,142) |
Cash flows from financing activities: | |||
Payments of debt | 0 | 0 | (233,293) |
Fees from debt refinancing | 0 | 0 | (300) |
Proceeds related to the issuance of common stock under stock and employee benefit plans | 8,737 | 4,736 | 20,419 |
Shares repurchased for tax withholdings upon vesting of stock-based awards | (9,920) | (24,522) | (50,520) |
Acquisition of treasury stock from tender offer | 0 | 0 | (503,393) |
Acquisition of treasury stock | (42,312) | (182,190) | (74,421) |
Net cash used in financing activities | (43,495) | (201,976) | (841,508) |
Net cash used in continuing operations | (151,949) | (346,754) | (854,628) |
Cash flows from discontinued operations: | |||
From operating activities | 0 | (207) | (458,525) |
From investing activities | 0 | 18,582 | 2,236,530 |
Effect of exchange rate changes on cash | 0 | 0 | (172) |
Net cash provided by discontinued operations | 0 | 18,375 | 1,777,833 |
Effect of exchange rate changes on cash | 1,010 | (468) | (1,750) |
Net change in cash, cash equivalents and restricted cash | (150,939) | (328,847) | 921,455 |
Cash, cash equivalents and restricted cash at beginning of period | 732,626 | 1,061,473 | 140,018 |
Cash, cash equivalents and restricted cash at end of period | 581,687 | 732,626 | 1,061,473 |
Supplemental cash flow information: | |||
Cash paid (received) for income taxes, net | $ (2,911) | $ (7,344) | $ 439,542 |
ORGANIZATION AND SUMMARY OF SIG
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: | 12 Months Ended |
Mar. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: | ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Description of Business - On September 20, 2018, we implemented a holding company reorganization, as a result of which Acxiom Holdings, Inc. became the successor issuer to Acxiom Corporation. On October 1, 2018, we changed our name to LiveRamp Holdings, Inc. ("LiveRamp"). References to "we", "us", "our" or the "Company" for events that occurred prior to September 20, 2018 refer to Acxiom Corporation and its subsidiaries; for events that occurred from September 20, 2018 to October 1, 2018, to Acxiom Holdings, Inc. and its subsidiaries; and for events after October 1, 2018, to LiveRamp Holdings, Inc. and Subsidiaries. LiveRamp is a global technology company with a vision of making it safe and easy for companies to use data effectively. We provide a best-in-class enterprise data connectivity platform that helps organizations better leverage customer data within and outside their four walls. Powered by core identity capabilities and an extensive network, LiveRamp enables companies and their partners to better connect, control, and activate data to transform customer experiences and generate more valuable business outcomes. LiveRamp is a Delaware corporation headquartered in San Francisco, California. Our common stock is listed on the New York Stock Exchange under the symbol “RAMP.” We serve a global client base from locations in the United States, Europe, and the Asia-Pacific (“APAC”) region. Our direct client list includes many of the world’s largest and best-known brands across most major industry verticals, including but not limited to financial, insurance and investment services, retail, automotive, telecommunications, high tech, consumer packaged goods, healthcare, travel, entertainment, non-profit, and government. Through our extensive reseller and partnership network, we serve thousands of additional companies, establishing LiveRamp as a foundational and neutral enabler of the customer experience economy. Basis of Presentation and Principles of Consolidation - The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries, after elimination of all significant intercompany accounts and transactions. We have prepared the accompanying consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“GAAP”) as set forth in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification and Updates (“ASC” and "ASU") and we consider the various staff accounting bulletins and other applicable guidance issued by the United States Securities and Exchange Commission ("SEC"). Our fiscal year ends on March 31. References to fiscal 2021, for example, are to the fiscal year ended March 31, 2021. Use of Estimates - In preparing consolidated financial statements and related disclosures in conformity with GAAP and pursuant to the rules and regulations of the SEC, we must make estimates and judgments that affect the amounts reported in the consolidated financial statements and accompanying notes. Estimates are used in determining, among other items, revenue recognition criteria, allowance for doubtful accounts, the fair value of acquired assets and assumed liabilities, restructuring and impairment accruals, litigation and facilities lease loss accruals, stock-based compensation, and the recognition and measurement of current and deferred income taxes, including the measurement of uncertain tax positions. Risks and Uncertainties - Due to the COVID-19 Coronavirus pandemic ("COVID-19" or "COVID-19 pandemic"), there has been uncertainty and disruption in the global economy and financial markets. We are not aware of any specific event or circumstance that would require an update to our estimates or judgments or a revision of the carrying value of our assets or liabilities as of March 31, 2021. While there was not a material impact to our consolidated financial statements for the fiscal year ended March 31, 2021, estimates may change as new events occur and additional information is obtained, as well as other factors related to the COVID-19 pandemic that could result in material impacts to our consolidated financial statements in future reporting periods. Operating Segments - The Company operates as one operating segment. Operating segments are defined as components of an enterprise for which separate financial information is evaluated regularly by our Chief Operating Decision Maker ("CODM"). Our Chief Executive Officer is our CODM. Our CODM evaluates our financial information and resources and assesses the performance of these resources on a consolidated basis. Since we operate as one operating segment, all required financial segment information can be found in the consolidated financial statements. Discontinued Operations - Discontinued operations comprise those activities that have been disposed of during the period or that have been classified as held for sale at the end of the period and represent a separate major line of business or geographical area that can be clearly distinguished for operational and financial reporting purposes. In fiscal 2019, the Company sold its Acxiom Marketing Solutions business (“AMS”) and began reporting the results of operations, cash flows and the balance sheet amounts pertaining to AMS as a component of discontinued operations in the consolidated financial statements. The amount recorded in fiscal 2020 relates to the final working capital true-up and receipt of final proceeds. Unless otherwise indicated, information in the notes to the consolidated financial statements relates to continuing operations. Earnings (Loss) per Share - A reconciliation of the numerator and denominator of basic and diluted earnings (loss) per share is shown below (in thousands, except per share amounts): Year ended March 31, 2021 2020 2019 Basic earnings (loss) per share: Net loss from continuing operations $ (90,268) $ (125,261) $ (133,947) Earnings from discontinued operations, net of tax — 750 1,162,494 Net earnings (loss) $ (90,268) $ (124,511) $ 1,028,547 Basic weighted-average shares outstanding 66,304 67,760 75,020 Continuing operations $ (1.36) $ (1.85) $ (1.79) Discontinued operations — 0.01 15.50 Basic earnings (loss) per share $ (1.36) $ (1.84) $ 13.71 Diluted earnings (loss) per share: Basic weighted-average shares outstanding 66,304 67,760 75,020 Dilutive effect of common stock options and restricted stock as computed under the treasury stock method (1) — — — Diluted weighted-average shares outstanding 66,304 67,760 75,020 Continuing operations $ (1.36) $ (1.85) $ (1.79) Discontinued operations — 0.01 15.50 Diluted earnings (loss) per share $ (1.36) $ (1.84) $ 13.71 (1) The number of common stock options and restricted stock units as computed under the treasury stock method for continuing operations that would have otherwise been dilutive but are excluded from the table above because their effect would have been anti-dilutive due to the net loss position of the Company were 2.7 million, 2.4 million, and 3.4 million for the years ended March 31, 2021, 2020, and 2019, respectively. Restricted stock units that were outstanding during the periods presented but were not included in the computation of diluted earnings per share because the effect was anti-dilutive are shown below (in thousands, except per share amounts): Year ended March 31, 2021 2020 2019 Number of shares underlying restricted stock units 90 1,368 227 Significant Accounting Policies Cash and Cash Equivalents - The Company considers all highly-liquid investments purchased with original maturities of three months or less to be cash equivalents. Cash and cash equivalents consist of cash held in bank deposit accounts and short-term, highly-liquid money-market fund investments with remaining maturities of three months or less at the date of purchase. Revenue Recognition - LiveRamp recognizes revenue from the following sources: (i) subscription revenue, which consists primarily of subscription fees from clients accessing our LiveRamp platform; and (ii) marketplace and other revenue, which primarily consists of revenue-sharing fees generated from access to data through our LiveRamp Data Marketplace, and transactional usage-based revenue from arrangements with certain publishers and addressable TV providers. We determine revenue recognition through the following steps: • Identification of the contract, or contracts, with a customer; • Identification of the performance obligations in the contract; • Determination of the transaction price; • Allocation of the transaction price to the performance obligations in the contract; and • Recognition of revenue when, or as, the performance obligations are satisfied. Identification of the contract We consider the terms and conditions of the contract and our customary business practices when identifying our contracts under ASC 606. We determine we have a contract with a customer when the contract or contract modification is approved and the parties are committed to performing their respective obligations, we can identify each party's rights regarding the services to be transferred, we can identify the payment terms for the services, we have determined the contract has commercial substance, and we have determined that collection of at least some of the contract consideration is probable. At contract inception we evaluate whether two or more contracts should be combined and accounted for as a single contract and whether the single or combined contract includes one or multiple performance obligations. We apply judgment in determining the customer's ability to pay, which is based on a variety of factors, including the customer's historical payment experience or, in the case of a new customer, credit and financial information pertaining to the customer. Identification of the performance obligations As part of accounting for arrangements with multiple performance obligations, we must assess whether each performance obligation is distinct. A good or service that is promised to a customer is distinct if the customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer, and a company's promise to transfer the good or service to the customer is separately identifiable from other promises in the contract. We have determined that our subscriptions to the platform are a distinct performance obligation and access to data for revenue-sharing and usage-based arrangements is a distinct performance obligation because, once a customer has access to the platform, the service is fully functional and does not require any additional development, modification, or customization. Determination of the transaction price The transaction price is the amount of consideration we expect to be entitled to in exchange for transferring services to a customer, excluding sales taxes that are collected on behalf of government agencies. Variable consideration is assessed and included in the transaction price if, in our judgment, it is probable that a significant future reversal of cumulative revenue under the contract will not occur. None of our contracts contain a significant financing component. Allocation of the transaction price to the performance obligations in the contract If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each distinct performance obligation based on the standalone selling price ("SSP") of each service. We generally determine the SSP based on contractual selling prices when the obligation is sold on a standalone basis, as well as market conditions, competition, and pricing practices. As pricing and marketing strategies evolve, we may modify our pricing practices in the future, which could result in changes to SSP. Recognition of revenue when, or as, the performance obligations are satisfied Revenues are recognized when or as control of the promised services is transferred to customers. Subscription revenue is generally recognized ratably over the subscription period beginning on the date the services are made available to customers. Marketplace and other revenue is typically transactional in nature, tied to a revenue share or volumes purchased. We report revenue from Data Marketplace and other similar transactions on a net basis because our performance obligation is to facilitate a transaction between data providers and data buyers, for which we earn a portion of the gross fee. Consequently, the portion of the gross amount billed to data buyers that is remitted to data providers is not reflected as revenues. Accounts Receivable Accounts receivable includes amounts billed to customers as well as unbilled amounts recognized in accordance with the Company’s revenue recognition policies. Unbilled amounts included in trade accounts receivable, net, which generally arise from the performance of services to customers in advance of billings, were $8.0 million at March 31, 2021 and $5.0 million at March 31, 2020. Trade accounts receivable are presented net of allowances for credit losses, returns and credits based on the probability of future collections. The probability of future collections is based on specific considerations of historical loss patterns and an assessment of the continuation of such patterns based on past collection trends and known or anticipated future economic events that may impair collectability. Accounts receivable that are determined to be uncollectible are charged against the allowance for doubtful accounts. Indicators that there is no reasonable expectation of recovery include past due status greater than 360 days or bankruptcy of the debtor. We are monitoring the impacts from the COVID-19 pandemic on our customers and various counterparties, and have considered these risks in establishing our reserve balance as of March 31, 2021 and 2020, respectively. A summary of the activity of the allowance for credit losses, returns and credits was (dollars in thousands): For the twelve months ended: Balance at beginning of period Additions charged to costs and expenses Other changes Bad debts written off, net of amounts recovered Balance at end of period March 31, 2019 $ 3,182 3,069 (92) (3,152) $ 3,007 March 31, 2020 $ 3,007 7,133 86 (2,651) $ 7,575 March 31, 2021 $ 7,575 2,915 108 (2,981) $ 7,617 Deferred Revenue Deferred revenue consists of amounts billed in excess of revenue recognized. Deferred revenues are subsequently recorded as revenue when earned in accordance with the Company’s revenue recognition policies. Deferred Commissions, net - The Company capitalizes incremental costs to acquire contracts and amortizes them on a straight-line basis over the expected period of benefit, which we have determined to be four years. Net capitalized costs of $6.6 million and $5.3 million were recognized as a reduction of operating expense for the years ended March 31, 2021 and 2020, respectively. We did not recognize any impairment charges in fiscal 2021, 2020, or 2019. Property and Equipment - Property and equipment are stated at cost. Depreciation and amortization are calculated on the straight-line method over the estimated useful lives of the assets as follows: leasehold improvements, 5 - 7 years; data processing equipment, 2 - 5 years, and office furniture and other equipment, 3 - 7 years. Operating Leases - On April 1, 2019, the Company adopted ASU No. 2016-02, codified as ASC 842 Leases , using the modified retrospective transition method. The Company elected the transition option provided by ASU No. 2018-11, Leases (Topic 842): Targeted Improvements, to not restate comparative periods, but rather to initially adopt the requirements of ASC 842 on April 1, 2019. The resulting impact, as of the adoption date, was the recognition of right-of-use assets included in other assets, net of $22.9 million, short-term lease liabilities included in other accrued expenses of $8.4 million, long-term lease liabilities included in other liabilities of $17.9 million, and a decrease to deferred rent included in other liabilities of $3.4 million. There was no material impact to the consolidated statements of operations or stockholders' equity as a result of adopting the new guidance. The Company applied the new standard using the practical expedients permitted under the transition guidance where the Company: • did not reassess whether any expired or existing contracts contain a lease; • did not reassess the classification of existing leases; and • did not reassess initial direct costs for any existing leases. Right-of-use assets represent the Company's right to control the use of an identified asset for a period of time, or term, in exchange for consideration, and operating lease liabilities represent its obligation to make lease payments arising from the aforementioned right. The Company determines if an arrangement is, or contains, a lease at inception, and whether lease and non-lease components are combined or not. Operating leases with a duration of one year or less are excluded from right-of-use assets and lease liabilities and related expense is recorded as incurred. Right-of-use assets and lease liabilities are initially recorded based on the present value of lease payments over the lease term, which includes the minimum unconditional term of the lease, and may include options to extend or terminate the lease when it is reasonably certain at the commencement date that such options will be exercised. As the rate implicit for each of the Company's leases is not readily determinable, the Company uses its incremental borrowing rate at commencement date in determining the present value of lease payments. The Company uses judgement in determining its incremental borrowing rate, which includes selecting a yield curve based on a hypothetical credit rating. Right-of-use assets also include any initial direct costs and any lease payments made prior to the lease commencement date and are reduced by any lease incentives received. Right-of-use assets are included in other assets in the consolidated balance sheet. Short-term lease liabilities are included in other accrued expenses and long-term lease liabilities are included in other liabilities in the consolidated balance sheet. Right-of-use assets are amortized on a straight-line basis as operating lease cost in the consolidated statements of operations. Business Combinations – We apply the provisions of ASC 805, Business Combinations , in accounting for acquisitions. ASC 805 requires us to determine if assets or a business was acquired. If a business was acquired, it requires us to recognize separately from goodwill the fair value of the assets acquired and the liabilities assumed at the acquisition date. Goodwill as of the acquisition date is measured as the excess of the fair value of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. While we use our best estimates and assumptions to accurately value assets acquired and liabilities assumed at the acquisition date as well as any contingent consideration, where applicable, our estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, we record adjustments resulting from new information about facts and circumstances that existed at the acquisition date and falls within the measurement period to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired and liabilities assumed, whichever comes first, any subsequent adjustments are recorded to our consolidated statements of operations. Goodwill - Goodwill represents the excess of the purchase price over the fair value of net assets acquired in business acquisitions accounted for using the acquisition method of accounting and is not amortized. Goodwill is measured and tested for impairment on an annual basis in the first quarter of the Company's fiscal year in accordance with ASC 350, Intangibles-Goodwill and Other , or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Such events and changes may include: significant changes in performance related to expected operating results, significant changes in asset use, significant changes in asset use, significant negative industry or economic trends, and changes in our business strategy. Our test for goodwill impairment starts with a qualitative assessment to determine whether it is necessary to perform the quantitative goodwill impairment test. If qualitative factors indicate that the fair value of the reporting unit is more likely than not less than its carrying amount, then a quantitative goodwill impairment test is performed. For the purposes of impairment testing, we have determined that we have three reporting units. We completed our annual impairment test during the first quarter of fiscal 2021. We did not recognize any goodwill impairment charges in fiscal 2021, 2020 or 2019. Intangible Assets - We amortize intangible assets with finite lives over their estimated useful lives and review them for impairment whenever an impairment indicator exists. We continually monitor events and changes in circumstances that could indicate carrying amounts of our long-lived assets, including our intangible assets, may not be recoverable. When such events or changes in circumstances occur, we assess recoverability by determining whether the carrying value of such assets will be recovered through the undiscounted expected future cash flows. If the future undiscounted cash flows are less than the carrying amount of these assets, we recognize an impairment loss based on any excess of the carrying amount over the fair value of the assets. We did not recognize any intangible asset impairment charges in fiscal 2021, 2020 or 2019. During fiscal 2021, our intangible assets were amortized over their estimated useful lives ranging from two years to six years. Amortization is based on the pattern in which the economic benefits of the intangible asset will be consumed or on a straight-line basis when the consumption pattern is not apparent. The weighted average useful lives of our intangible assets were as follows: Weighted Average Useful Life (years) Developed technology 3.9 Customer relationships 5.3 Publisher and Data Supply relationships 5.2 Impairment of Long-lived Assets - Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company considers factors such as operating losses, declining outlooks, and business conditions when evaluating the necessity for an impairment analysis. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset group to the undiscounted cash flows expected to result from the use and eventual disposition of the asset group. If such assets are impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. We did not recognize any impairment charges related to long-lived assets in fiscal 2021, 2020 or 2019. Fair Value of Financial Instruments - We apply the provisions of ASC 820, Fair Value Measurement , to our assets and liabilities that we are required to measure at fair value pursuant to other accounting standards. The additional disclosure regarding our fair value measurements is included in Note 18 - Fair Value of Financial Instruments. Concentration of Credit Risk and Significant Customers - Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents and trade accounts receivable. The Company maintains deposits in federally insured financial institutions more than federally insured limits. Management, however, believes the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. The Company has no significant off-balance sheet risk such as foreign exchange contracts, options contracts, or other hedging arrangements. The Company’s trade accounts receivables are from a large number of customers. Accordingly, the Company’s credit risk is affected by general economic conditions. At March 31, 2021 there were no customers that represented more than 10% of the trade accounts receivable balance. Our ten largest clients represented approximately 33% of our revenues in fiscal year 2021. One client, The Interpublic Group of Companies, accounted for 11%of our revenues in fiscal year 2021. Income Taxes - The Company and its domestic subsidiaries file a consolidated federal income tax return. The Company’s foreign subsidiaries file separate income tax returns in the countries in which their operations are based. The Company makes estimates and judgments in determining the provision for income taxes for financial statement purposes. These estimates and judgments occur in the calculation of tax credits, benefits, and deductions, and in the calculation of certain deferred tax assets and liabilities that arise from differences in the timing of recognition of revenue and expense for tax and financial statement purposes, as well as the interest and penalties related to uncertain tax positions. Significant changes in these estimates may result in an increase or decrease to the tax provision in a subsequent period. The Company assesses the likelihood that it will be able to recover its deferred tax assets. If recovery is not likely, the Company increases the provision for taxes by recording a valuation allowance against the deferred tax assets that it estimates will not ultimately be recoverable. The calculation of tax liabilities involves dealing with uncertainties in the application of complex tax laws and regulations. The Company recognizes liabilities for uncertain tax positions based on a two-step process pursuant to ASC 740, Income Taxes . The first step is to evaluate the tax position for recognition by determining whether the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. If the Company determines that a tax position will more likely than not be sustained on audit, the second step requires the Company to estimate and measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. It is inherently difficult and subjective to estimate such amounts, as the Company must determine the probability of various outcomes. The Company re-evaluates these uncertain tax positions on a quarterly basis. This evaluation is based on factors such as changes in facts or circumstances, changes in tax law, new audit activity, and effectively settled issues. Determining whether an uncertain tax position is effectively settled requires judgment. Such a change in recognition or measurement would result in the recognition of a tax benefit or an additional charge to the tax provision. On March 27, 2020, the U.S. enacted The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). The CARES Act included several significant changes and clarifications to existing tax law, including changes to the treatment of net operating losses (“NOLs”). Under the CARES Act, NOLs arising in tax years beginning after December 31, 2017, and before January 1, 2021 may be carried back to each of the five tax years preceding the tax year of the net loss. As such, the Company plans to carry back its fiscal 2021 NOL, resulting in an expected refund of approximately $28 million in fiscal 2022. The Company was also able to carry back its fiscal 2020 NOL, resulting in an expected refund of approximately $33 million also in fiscal 2022. Both refunds are included in refundable income taxes in the consolidated balance sheets. Foreign Currency - The reporting currency of the Company is the U.S. dollar. The functional currency of our foreign operations generally is the applicable local currency for each foreign subsidiary. The balance sheets of the Company’s foreign subsidiaries are translated at period-end rates of exchange, and the statements of operations are translated at the average exchange rate for the period. The effects of foreign currency translation adjustments are included in accumulated other comprehensive income in the consolidated statements of equity and comprehensive income (loss). We reflect net foreign exchange transaction gains and losses, resulting from the conversion of the transaction currency to functional currency, as a component of foreign currency exchange gain (loss) in total other income (expense) in the consolidated statements of operations. Advertising Expense - Advertising costs are expensed as incurred. Advertising expense was approximately $7.0 million, $9.8 million, and $8.2 million for the fiscal years ended March 31, 2021, 2020 and 2019, respectively. Advertising expense is included in operating expenses in the consolidated statements of operations. Legal Contingencies - We are currently involved in various claims and legal proceedings. Quarterly, we review the status of each significant matter and assess our potential financial exposure. We accrue a liability for an estimated loss if the potential loss from any claim or legal proceeding is considered probable, and the amount can be reasonably estimated. Note 13 - Commitments and Contingencies provides additional information regarding certain of our legal contingencies. Stock-Based Compensation - The Company records stock-based compensation expense according to the provisions of ASC Topic 718, Compensation – Stock Compensation . ASC Topic 718 requires all stock-based payments to employees, including grants of employee stock options, to be recognized in the statement of operations over the service period of the award based on their fair values. Under the provisions of ASC Topic 718, the Company determines the appropriate fair value model to be used for valuing stock-based payments and the amortization method for compensation cost. The Company has stock option plans and equity compensation plans (collectively referred to as the “stock-based plans”) administered by the compensation committee of the board of directors (“compensation committee”) under which options and restricted stock units were outstanding as of March 31, 2021. The Company’s equity compensation plan provides that all associates (employees, officers, directors, affiliates, independent contractors or consultants) are eligible to receive awards (grant of any option, stock appreciation right, restricted stock award, restricted stock unit award, performance award, performance share, performance unit, qualified performance-based award, or other stock unit award) under the plan with the terms and conditions applicable to an award set forth in applicable grant documents. Incentive stock option awards granted under the stock-based plans cannot be granted with an exercise price less than 100% of the per-share market value of the Company’s shares at the date of grant and have a maximum duration of ten years from the date of grant. Board policy currently requires that non-qualified options also must be priced at or above 100% of the fair market value of the common stock at the time of grant with a maximum duration of ten years. Restricted stock units may be issued under the equity compensation plan and represent the right to receive shares in the future by way of an award agreement that includes vesting provisions. Award agreements can further provide for forfeitures triggered by certain prohibited activities, such as breach of confidentiality. All restricted stock units are expensed over the vesting period and adjusted for forfeitures as incurred. The vesting of some restricted stock units is subject to the Company’s achievement of certain performance criteria, as well as the individual remaining employed by the Company for a period of years. The Company receives income tax deductions because of the exercise of non-qualified stock opti |
REVENUE FROM CONTRACTS WITH CUS
REVENUE FROM CONTRACTS WITH CUSTOMERS: | 12 Months Ended |
Mar. 31, 2021 | |
Revenue from Contract with Customer [Abstract] | |
REVENUE FROM CONTRACTS WITH CUSTOMERS: | REVENUE FROM CONTRACTS WITH CUSTOMERS: Disaggregation of Revenue In the following table, revenue is disaggregated by primary geographical market and major service offerings (dollars in thousands). Year ended March 31, Primary Geographical Markets 2021 2020 2019 United States $ 415,976 $ 354,437 $ 262,135 Europe 22,515 20,789 18,566 Asia-Pacific ("APAC") 4,535 5,346 4,919 $ 443,026 $ 380,572 $ 285,620 Major Offerings/Services Subscription $ 356,597 $ 305,679 $ 236,718 Marketplace and Other 86,429 74,893 48,902 $ 443,026 $ 380,572 $ 285,620 Transaction Price Allocated to the Remaining Performance Obligations We have performance obligations associated with fixed commitments in customer contracts for future services that have not yet been recognized in our consolidated financial statements. The amount of fixed revenue not yet recognized was $371.0 million as of March 31, 2021, of which $255.8 million will be recognized over the next twelve months. The Company expects to recognize revenue on substantially all of these remaining performance obligations by March 31, 2026. |
LEASES_
LEASES: | 12 Months Ended |
Mar. 31, 2021 | |
Leases [Abstract] | |
LEASES: | LEASES: Right-of-use asset and lease liability balances consist of the following (dollars in millions): March 31, 2021 March 31, 2020 Right-of-use assets included in other assets, net $ 11.7 $ 17.8 Short-term lease liabilities included in other accrued expenses $ 9.6 $ 9.6 Long-term lease liabilities included in other liabilities $ 4.2 $ 11.4 The Company leases its office facilities under non-cancellable operating leases that expire at various dates through fiscal 2025. Certain leases contain provisions for property-related costs that are variable in nature for which the Company is responsible, including common area maintenance and other property operating services. These costs are calculated based on a variety of factors including property values, tax and utility rates, property service fees, and other factors. Operating lease costs were $11.6 million and $10.1 million for the twelve months ended March 31, 2021 and 2020, respectively. Rent expense recorded prior to the adoption of Topic 842 lease guidance was $12.8 million for the fiscal year ended March 31, 2019. Future minimum payments under all operating leases (including operating leases with a duration of one year or less) as of March 31, 2021 are as follows (dollars in thousands): Amount Fiscal 2022 $ 9,960 Fiscal 2023 3,304 Fiscal 2024 1,198 Fiscal 2025 69 Total undiscounted lease commitments 14,531 Less: Interest and short-term leases 766 Total discounted operating lease liabilities $ 13,765 Future minimum payments as of March 31, 2021 related to restructuring plans as a result of the Company's exit from certain leased office facilities (see Note 4) are as follows (dollars in thousands): Fiscal 2022: $2,611; Fiscal 2023: $2,663; Fiscal 2024: $2,698; Fiscal 2025: $2,698; and Fiscal 2026: $1,799. |
RESTRUCTURING, IMPAIRMENT AND O
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: | 12 Months Ended |
Mar. 31, 2021 | |
Restructuring and Related Activities [Abstract] | |
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: | RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: Restructuring activities result in various costs, including asset write-offs, exit charges including severance, contract termination fees, and decommissioning and other costs. Any impairment of the asset is recognized immediately in the period the plan is approved. A reconciliation of the beginning and ending restructuring liabilities is shown below for the fiscal years ended March 31, 2021, 2020, and 2019. The restructuring charges and adjustments are included in gains, losses and other items, net in the consolidated statement of operations. The reserve balances are included in other accrued expenses and other liabilities in the consolidated balance sheets (dollars in thousands). Associate-related Lease Total Balances at 3/31/2018 542 5,288 5,830 Restructuring charges and adjustments 6,163 1,582 7,745 Payments (2,110) (1,182) (3,292) Balances at 3/31/2019 $ 4,595 $ 5,688 $ 10,283 Restructuring charges and adjustments 2,291 1,139 3,430 Payments (6,436) (584) (7,020) Balances at March 31, 2020 $ 450 $ 6,243 $ 6,693 Restructuring charges and adjustments 1,663 62 1,725 Payments (1,288) (2,387) (3,675) Balances at March 31, 2021 $ 825 $ 3,918 $ 4,743 Associate-Related Restructuring Plans During the twelve months ended March 31, 2021, the Company recorded a total of $1.7 million in associate-related restructuring charges and adjustments. The expense included severance and other associate-related charges in the United States and Europe. Of the associate-related charges of $1.7 million, $0.6 million remained accrued as of March 31, 2021 and is expected to be paid out during fiscal 2022. In fiscal 2020, the Company recorded a total of $2.3 million in associate-related restructuring charges and adjustments. The expense included severance and other associate-related charges in APAC of $0.6 million and adjustments to fiscal 2019 associate-related restructuring plans for associates in the United States of $1.7 million, all of which were paid out in fiscal 2020. The fiscal 2020 associate-related accruals of $0.6 million had a remaining balance of $0.2 million at March 31, 2020. This amount was paid out in fiscal 2021. In fiscal 2019, the Company recorded a total of $6.1 million in associate-related restructuring charges and adjustments. The expense included severance and other associate-related charges primarily for associates in the United States and APAC. The associate-related accruals of $6.1 million were paid out in fiscal 2020. Of associate-related accruals for periods before fiscal 2019, $0.2 million remains accrued and is expected to be paid out during fiscal 2022. Lease-Related Restructuring Plans In fiscal 2017, the Company made the strategic decision to exit and sub-lease a certain leased office facility under a staggered-exit plan. The full exit was completed in fiscal 2019. We intend to continue subleasing the facility to the extent possible. The liability will be satisfied over the remainder of the leased property's term, which continues through November 2025. Any future changes in the estimates or in the actual sublease income may require future adjustments to the liabilities, which would impact net earnings (loss) in the period the adjustment is recorded. The Company recorded restructuring charge adjustments of $(0.9) million, $1.1 million, and $0.9 million related to this lease during fiscal years 2021, 2020, and 2019, respectively. Through March 31, 2021, the Company has recorded a total of $7.3 million of restructuring charges and adjustments related to this lease. Of the amount accrued for this facility lease, $3.9 million remained accrued at March 31, 2021. In addition to the fiscal 2017 restructured lease discussed above, the Company recorded a $1.0 million settlement in fiscal 2021 for an office space lease cancellation that was paid during the quarter ended September 30, 2020, and recorded leasehold improvement write-offs of $0.8 million in fiscal 2019 related to the fiscal 2017 restructured lease. Gains, Losses and Other Items, net The following table summarizes the activity included in gains, losses and other items, net in the consolidated statements of operations for each of the periods presented (dollars in thousands): Year ended March 31, 2021 2020 2019 Restructuring plan charges and adjustments $ 1,725 $ 3,430 $ 7,745 Early contract terminations — 908 12,188 Other 990 663 — $ 2,715 $ 5,001 $ 19,933 |
ACQUISITIONS_
ACQUISITIONS: | 12 Months Ended |
Mar. 31, 2021 | |
Business Combinations [Abstract] | |
ACQUISITIONS: | ACQUISITIONS: DataFleets On February 17, 2021, the Company acquired DataFleets, a cloud data platform that enables data silos to be unified without moving data or compromising privacy. This acquisition expands LiveRamp's data protection capabilities to unlock greater data access and control for its customers. In addition, the deal opens up new use cases as well as new markets for distributed data collaboration through LiveRamp Safe Haven. The Company has included the financial results of DataFleets in the consolidated financial statements as of the fourth quarter of fiscal 2021. The acquisition date fair value of the consideration for DataFleets was approximately $67.2 million, which consisted of the following (dollars in thousands): Cash, net of $2.1 million cash acquired $ 58,264 Restricted cash held in escrow 8,900 Total fair value of consideration transferred $ 67,164 On the acquisition date, the Company delivered $8.9 million of cash to an escrow agent according to the terms of the purchase agreement. The principal escrow is owned by the Company until funds are delivered to the DataFleets sellers one year from the acquisition date. All interest and earnings on the principal escrow amount remain the property of the Company. The total fair value of replacement stock options issued was $2.9 million for future services and will be expensed over the future requisite service periods. In connection with the DataFleets acquisition, the Company agreed to pay $18.1 million to certain key employees (see "Consideration Holdback' in Note 14). The consideration holdback is payable in three equal, annual increments, based on the anniversary dates of the acquisition, and is payable in shares of Company common stock. The number of shares to be issued annually will vary based on the market price of the shares on the date of issuance. The consideration holdback is not part of the purchase price, as vesting is dependent on continued employment of the key employees. It will be recorded as non-cash stock-based compensation expense over the three-year earning period. The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the date of acquisition (dollars in thousands): February 17, 2021 Assets acquired: Cash $ 2,099 Goodwill 56,436 Intangible assets 11,400 Other current and noncurrent assets 1,119 Total assets acquired 71,054 Deferred income taxes (1,716) Accounts payable and accrued expenses (75) Net assets acquired 69,263 Less: Cash acquired (2,099) Net purchase price allocated 67,164 Less: Restricted cash held in escrow (8,900) Net cash paid in acquisition $ 58,264 The excess of purchase consideration over the fair value of net tangible and identifiable intangible assets acquired was recorded as goodwill and is primarily attributed to expectations to the development of future technology. The goodwill balance is not deductible for U.S. income tax purposes. The Company initially recognized the assets and liabilities acquired based on its preliminary estimates of their fair values as of the acquisition date. As additional information becomes known concerning the acquired assets and assumed liabilities, management may make adjustments to the opening balance sheet of the acquired company up to the end of the measurement period, which is not longer than a one-year period following the acquisition date. The determination of the fair values of the acquired assets and liabilities assumed (and the related determination of the estimated lives of depreciable tangible and identifiable intangible assets) requires significant judgment. As of March 31, 2021, the Company has not completed its analysis of deferred income taxes. The fair value currently assigned to deferred income taxes was based on the information that was available as of the date of the acquisition. The Company expects to finalize the deferred income taxes as soon as practicable. The amounts allocated to intangible assets in the table above included developed technology, and customer relationships/trade name. Intangible assets are being amortized on a straight-line basis over the estimated useful lives. The following table presents the components of intangible assets acquired and their estimated useful lives as of the acquisition date (dollars in thousands): Useful life Fair value (in years) Developed technology $ 11,000 4 Customer relationships/trade names 400 2 Total intangible assets $ 11,400 The Company has omitted pro forma disclosures related to this acquisition date as the pro forma effect of this acquisition is not material. Acuity Data On July 16, 2020, the Company completed the acquisition of Acuity Data, a team of global retail and consumer packaged goods ("CPG") experts, for approximately $2.9 million in cash. The acquisition also included a three-year performance plan having a maximum potential attainment of $5.1 million that would be recorded as non-cash stock-based compensation expense if achieved. The acquisition strengthens the retail analytics capabilities of our Safe Haven platform by enabling better reporting, insights, and collaboration for retailers and CPG companies, bridging the gap between trade and media by bringing consumers' digital signals and retail transaction data together in a privacy-conscious manner. The following table summarizes the fair value of assets acquired and liabilities assumed as of the date of acquisition (dollars in thousands): July 16, 2020 Assets acquired: Cash $ 184 Trade accounts receivable 156 Goodwill 2,011 Intangible assets 1,100 Other current and noncurrent assets 43 Total assets acquired 3,494 Deferred income taxes (288) Accounts payable and accrued expenses (89) Net assets acquired 3,117 Less: Cash acquired (184) Net cash paid $ 2,933 The excess of purchase consideration over the fair value of net tangible and identifiable intangible assets acquired was recorded as goodwill and is primarily attributed to the development of future technology and products, development of future customer relationships, and the Acuity assembled workforce. The Company has omitted pro forma disclosures related to this acquisition as the pro forma effect of this acquisition is not material. Data Plus Math On July 2, 2019, the Company closed its acquisition of Data Plus Math Corporation ("DPM"), a media measurement company that works with brands, agencies, cable operators, streaming TV services and networks to tie cross-screen ad exposure with real-world outcomes. The Company has included the financial results of DPM in the consolidated financial statements from the acquisition date. The acquisition date fair value of the consideration for DPM was approximately $118.0 million, which consisted of the following (dollars in thousands): Cash, net of $0.4 million cash acquired $ 100,886 Restricted cash held in escrow 14,815 Fair value of replacement stock options considered a component of purchase price 2,300 Total fair value of consideration transferred $ 118,001 On the acquisition date, the Company delivered $14.8 million of cash to an escrow agent according to the terms of the purchase agreement. The principal escrow amount was owned by the Company until funds were delivered to the DPM sellers in the second quarter of fiscal 2021. All interest and earnings on the principal escrow amount remained the property of the Company. The total fair value of the replacement stock options issued was $7.4 million of which $2.3 million was allocated to the purchase consideration and $5.1 million was allocated to future services and will be expensed over the future requisite service periods (see Note 14). In connection with the DPM acquisition, the Company agreed to pay $24.7 million to certain key employees (see "Consideration Holdback" in Note 14). The consideration holdback is payable in three equal, annual increments, based on the anniversary dates of the acquisition, and is payable in shares of Company common stock. The number of shares to be issued annually will vary depending on the market price of the shares on the date of issuance. The consideration holdback is not part of the purchase price, as vesting is dependent on continued employment of the key employees. It will be recorded as non-cash stock-based compensation expense over the three-year earning period. The following table summarizes the fair values of assets acquired and liabilities assumed as of the date of acquisition (dollars in thousands): July 2, 2019 Assets acquired: Cash $ 438 Trade accounts receivable 957 Goodwill 90,619 Intangible assets 34,000 Other current and noncurrent assets 1,186 Total assets acquired 127,200 Deferred income taxes (6,034) Accounts payable and accrued expenses (2,727) Net assets acquired 118,439 Less: Cash acquired (438) Net purchase price allocated 118,001 Less: Restricted cash held in escrow (14,815) Fair value of replacement stock options considered a component of purchase price (2,300) Net cash paid in acquisition $ 100,886 The excess of purchase consideration over the fair value of net tangible and identifiable intangible assets acquired was recorded as goodwill and is primarily attributed to expectations to development of future technology and products, development of future customer relationships, and the DPM's assembled workforce. The goodwill balance is not deductible for U.S. income tax purposes. The amounts allocated to intangible assets in the table above included developed technology, data supply relationships, customer relationships, and trademarks. Intangible assets are being amortized on a straight-line basis over the estimated useful lives. The following table presents the components of intangible assets acquired and their estimated useful lives as of the acquisition date (dollars in thousands): Useful life Fair value (in years) Developed technology $ 11,000 4 Data supply relationships 16,000 4 Customer relationships 6,000 4 Trademarks 1,000 2 Total intangible assets $ 34,000 The Company has omitted disclosures of revenue and net loss of the acquired company from the acquisition date as the amounts are not material. The unaudited pro forma financial information in the table below summarizes the combined results of operations for LiveRamp and DPM for the purposes of unaudited pro forma financial information disclosure as if the companies were combined as of the beginning of fiscal 2019. The unaudited pro forma financial information for all periods presented included the business combination accounting effects resulting from these acquisitions, including amortization charges from acquired intangible assets, stock-based compensation charges for unvested restricted stock-based awards and stock options assumed, if any, and the related tax effects as though the aforementioned companies were combined as of the beginning of fiscal 2019. The pro forma financial information as presented below is for informational purposes only and is not necessarily indicative of the results of operations that would have been achieved if the acquisitions had taken place at the beginning of fiscal 2019. The unaudited pro forma financial information for the years ended March 31, 2020 and 2019, respectively, combined the historical results of LiveRamp for the years ended March 31, 2020 and 2019 and the historical results of DPM for the years ended December 31, 2019 and 2018 (adjusted due to differences in reporting periods) and the effects of the pro forma adjustments listed above. The unaudited pro forma financial information was as follows (dollars in thousands, except per share data): Year ended March 31, 2020 2019 Revenues $ 381,501 $ 287,467 Net earnings (loss) $ (129,211) $ 1,010,241 Basic earnings (loss) per share $ (1.91) $ 13.47 Diluted earnings (loss) per share $ (1.91) $ 13.47 Faktor On April 2, 2019, the Company acquired all of the outstanding shares of Faktor B.V. ("Faktor"). Faktor is a global consent management platform that allows consumers to control how their data is collected, used, and transferred for usage to another party. Faktor's platform provides individuals with notice and choice on websites and mobile apps and allows them to opt-in or opt-out via a visible banner on the page. The Company paid approximately $4.5 million in cash for the acquired shares. The Company has omitted pro forma disclosures related to this acquisition as the pro forma effect of this acquisition is not material. The results of operations for the acquisition are included in the Company's consolidated results beginning April 2, 2019. The following table presents the purchase price allocation related to assets acquired and liabilities assumed (dollars in thousands): April 2, 2019 Assets acquired: Cash $ 35 Trade accounts receivable 63 Goodwill 3,110 Intangible assets 1,700 Other current and noncurrent assets 126 Total assets acquired 5,034 Deferred income taxes (194) Accounts payable and accrued expenses (326) Net assets acquired 4,514 Less: Cash acquired (35) Net cash paid $ 4,479 The excess of purchase consideration over the fair value of net tangible and identifiable intangible assets acquired was recorded as goodwill and is primarily attributed to development of future technology and products, development of future customer relationships, and the Faktor assembled workforce. |
DISCONTINUED OPERATIONS_
DISCONTINUED OPERATIONS: | 12 Months Ended |
Mar. 31, 2021 | |
Discontinued Operations and Disposal Groups [Abstract] | |
DISCONTINUED OPERATIONS: | DISCONTINUED OPERATIONS: Acxiom Marketing Solutions ("AMS") business During fiscal 2019, the Company completed the sale of its AMS business to The Interpublic Group of Companies, Inc. (“IPG”) for $2.3 billion in cash. The business qualified for treatment as discontinued operations during fiscal 2019. At the closing of the transaction, the Company received total consideration of $2.3 billion ($2.3 billion stated sales price less closing adjustments, transaction costs and other items of $49.0 million). Additionally, the Company applied $230.5 million of proceeds from the sale to repay outstanding Company debt and related interest. The Company reported a gain of $1.7 billion on the sale, which was included in earnings from discontinued operations, net of tax. Summary results of operations for AMS for the fiscal years ended March 31, 2020 and 2019 are segregated and included in earnings from discontinued operations, net of tax, in the consolidated statements of operations. The following is a reconciliation of the major classes of line items constituting earnings from discontinued operations, net of tax (dollars in thousands): Year ended March 31, 2020 2019 Revenues $ — $ 332,185 Cost of revenue — 213,512 Gross profit — 118,673 Operating expenses: Research and development — 21,621 Sales and marketing — 60,743 General and administrative — 71,500 Gains, losses and other items, net (957) (1,673,636) Total operating expenses (957) (1,519,772) Income from discontinued operations 957 1,638,445 Interest expense — (5,702) Other, net — 97 Earnings from discontinued operations before income taxes 957 1,632,840 Income taxes 207 470,346 Earnings from discontinued operations, net of tax $ 750 $ 1,162,494 |
OTHER CURRENT AND NONCURRENT AS
OTHER CURRENT AND NONCURRENT ASSETS: | 12 Months Ended |
Mar. 31, 2021 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
OTHER CURRENT AND NONCURRENT ASSETS: | OTHER CURRENT AND NONCURRENT ASSETS: Other current assets consist of the following (dollars in thousands): March 31, 2021 March 31, 2020 Prepaid expenses and other $ 30,791 $ 13,385 Receivable for cash settlement of withheld income tax withholdings on equity award 9,923 7,658 Certificates of deposit 7,500 — Assets of non-qualified retirement plan 15,838 11,623 Other current assets $ 64,052 $ 32,666 Other noncurrent assets consist of the following (dollars in thousands): March 31, 2021 March 31, 2020 Long-term prepaid data revenue share $ 8,127 $ — Right-of-use asset (see Note 3) 11,731 17,830 Deferred tax asset 663 852 Deposits 2,745 2,562 Strategic investments (see Note 18) 5,700 3,500 Other miscellaneous noncurrent assets 1,888 2,421 Other assets, net $ 30,854 $ 27,165 |
PROPERTY AND EQUIPMENT_
PROPERTY AND EQUIPMENT: | 12 Months Ended |
Mar. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
PROPERTY AND EQUIPMENT: | PROPERTY AND EQUIPMENT: Property and equipment is summarized as follows (dollars in thousands): March 31, 2021 March 31, 2020 Leasehold improvements $ 26,024 $ 25,614 Data processing equipment 9,053 9,499 Office furniture and other equipment 9,207 9,673 44,284 44,786 Less accumulated depreciation and amortization 32,327 25,465 $ 11,957 $ 19,321 Depreciation expense on property and equipment was $8.9 million, $15.3 million, and $15.6 million for fiscal years ended March 31, 2021, 2020, and 2019, respectively. Depreciation expense in fiscal 2020 and 2019 included $3.6 million and $3.8 million, respectively, of accelerated depreciation expense associated with the reduced useful life of certain IT equipment in connection with the Company's migration to a cloud-based data center solution. |
GOODWILL_
GOODWILL: | 12 Months Ended |
Mar. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
GOODWILL: | GOODWILL: Changes in goodwill for the years ended March 31, 2021 and 2020 was as follows (dollars in thousands): Total Balance at March 31, 2019 $ 204,656 Acquisition of Faktor 3,110 Acquisition of DPM 90,619 Change in foreign currency translation adjustment (589) Balance at March 31, 2020 $ 297,796 Acquisition of Acuity Data 2,011 Acquisition of DataFleets 56,436 Change in foreign currency translation adjustment 1,203 Balance at March 31, 2021 $ 357,446 Goodwill by geography as of March 31, 2021 was: Total U.S. $ 353,914 APAC 3,532 Balance at March 31, 2021 $ 357,446 |
INTANGIBLE ASSETS_
INTANGIBLE ASSETS: | 12 Months Ended |
Mar. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
INTANGIBLE ASSETS: | INTANGIBLE ASSETS: The amounts allocated to intangible assets from acquisitions include developed technology, customer relationships, trade names, and publisher and data supply relationships. The following table shows the amortization activity of intangible assets (dollars in thousands): March 31, 2021 March 31, 2020 Developed technology, gross $ 78,547 $ 66,451 Accumulated amortization (60,424) (54,713) Net developed technology $ 18,123 $ 11,738 Customer relationship/Trade name, gross $ 43,506 $ 42,993 Accumulated amortization (37,510) (33,109) Net customer/trade name $ 5,996 $ 9,884 Publisher/Data supply relationships, gross $ 39,800 $ 39,800 Accumulated amortization (24,189) (16,222) Net publisher relationship $ 15,611 $ 23,578 Total intangible assets, gross $ 161,853 $ 149,244 Total accumulated amortization (122,123) (104,044) Total intangible assets, net $ 39,730 $ 45,200 Total amortization expense related to intangible assets was $18.0 million, $19.0 million, and $15.9 million fiscal years ended March 31, 2021, 2020, and 2019, respectively. The following table presents the estimated future amortization expenses related to purchased intangible assets (dollars in thousands): Fiscal Year: 2022 17,401 2023 14,956 2024 4,945 2025 2,428 $ 39,730 |
OTHER ACCRUED EXPENSES_
OTHER ACCRUED EXPENSES: | 12 Months Ended |
Mar. 31, 2021 | |
Other Accrued Expenses [Abstract]. | |
OTHER ACCRUED EXPENSES | OTHER ACCRUED EXPENSES: Other accrued expenses consist of the following (dollars in thousands): March 31, 2021 March 31, 2020 Liabilities of non-qualified retirement plan $ 15,838 $ 11,623 Accrued Data Marketplace expenses 15,818 12,023 Short-term lease liabilities (see Note 3) 9,608 9,641 PDP performance plan liability (see Note 14) — 16,318 DPM consideration holdback (see Note 14) 6,092 6,185 Acuity performance earnout liability (see Note 14) 2,208 — DataFleets consideration holdback (see Note 14) 755 — Other miscellaneous accrued expenses 8,034 13,201 Other accrued expenses $ 58,353 $ 68,991 |
OTHER LIABILITIES_
OTHER LIABILITIES: | 12 Months Ended |
Mar. 31, 2021 | |
Other Liabilities Disclosure [Abstract] | |
OTHER LIABILITIES: | OTHER LIABILITIES: Other liabilities consist of the following (dollars in thousands): March 31, 2021 March 31, 2020 Uncertain tax positions 26,156 25,007 Long-term leases liabilities (see Note 3) 4,158 11,449 Restructuring accruals 4,510 6,839 Other 7,565 9,700 Other liabilities $ 42,389 $ 52,995 |
COMMITMENTS AND CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES: | 12 Months Ended |
Mar. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES: | COMMITMENTS AND CONTINGENCIES: Legal Matters The Company is involved in various claims and legal proceedings that arise in the ordinary course of business. Management routinely assesses the likelihood of adverse judgments or outcomes to these matters, as well as ranges of probable losses, to the extent losses are reasonably estimable. The Company records accruals for these matters to the extent that management concludes a loss is probable and the financial impact, should an adverse outcome occur, is reasonably estimable. These accruals are adjusted to reflect the impacts of negotiations, settlements, rulings, advice of legal counsel, and other information and events pertinent to a particular matter. These accruals are reflected in the Company’s consolidated financial statements. In management’s opinion, the Company has made appropriate and adequate accruals for these matters, and management believes the probability of a material loss beyond the amounts accrued to be remote. However, the ultimate liability for these matters is uncertain, and if accruals are not adequate, an adverse outcome could have a material effect on the Company’s consolidated financial condition or results of operations. The Company maintains insurance coverage above certain limits. Commitments The following table presents the Company’s purchase commitments at March 31, 2021. Purchase commitments primarily include contractual commitments for the purchase of data, hosting services and software as a service arrangements. The table does not include the future payment of liabilities related to uncertain tax positions of $26.2 million as the Company is not able to predict the periods in which the payments will be made (dollars in thousands): For the years ending March 31, 2022 2023 2024 2025 2026 Thereafter Total Purchase commitments $ 59,732 $ 50,754 $ 45,726 $ 44,248 $ 33,150 $ — $ 233,610 |
STOCKHOLDERS' EQUITY_
STOCKHOLDERS' EQUITY: | 12 Months Ended |
Mar. 31, 2021 | |
Equity [Abstract] | |
STOCKHOLDERS' EQUITY: | STOCKHOLDERS' EQUITY: The Company has authorized 200 million shares of $0.10 par value common stock and 1 million shares of $1.00 par value preferred stock. The board of directors of the Company may designate the relative rights and preferences of the preferred stock when and if issued. Such rights and preferences could include liquidation preferences, redemption rights, voting rights and dividends, and the shares could be issued in multiple series with different rights and preferences. The Company currently has no plans for the issuance of any shares of preferred stock. On August 29, 2011, the board of directors adopted a common stock repurchase program. That program was subsequently modified and expanded, most recently on November 3, 2020. On that date, the board of directors extended the term of the existing common stock repurchase program. Under the modified common stock repurchase program, the Company may purchase up to $1.0 billion of its common stock through the period ending December 31, 2022. During the fiscal year ended March 31, 2021, the Company repurchased 1.3 million shares of its common stock for $42.3 million under the stock repurchase program. During the fiscal year ended March 31, 2020, the Company repurchased 4.4 million shares of its common stock for $182.2 million under the stock repurchase program. During the fiscal year ended March 31, 2019, the Company repurchased 2.4 million shares of its common stock for $74.4 million under the stock repurchase program. Through March 31, 2021, the Company has repurchased 28.2 million shares of its stock for $673.6 million, leaving remaining capacity of $326.4 million under the stock repurchase program. On October 25, 2018, the board of directors authorized a Dutch auction tender offer to purchase shares of its outstanding common stock at an initial aggregate purchase price not to exceed $500 million, plus up to 2% of the Company's outstanding shares of common stock in accordance with the rules and regulations of the SEC. On December 13, 2018, the Company accepted for purchase 11.2 million shares of its common stock at a price of $44.50 per share, for an aggregate cost of $503.4 million, including fees and expenses. These shares represented approximately 14.2% of the shares outstanding. The Company paid no dividends on its common stock for any of the years reported. Stock-based Compensation Plans The Company has stock option and equity compensation plans for which a total of 39.1 million shares of the Company’s common stock have been reserved for issuance since the inception of the plans. At March 31, 2021, there were a total of 5.2 million shares available for future grants under the plans. During the fiscal year ended March 31, 2019, the Board voted to amend the Amended and Restated 2005 Equity Compensation Plan to increase the number of shares available under the plan from 32.9 million shares at March 31, 2018 to 37.9 million shares at March 31, 2019, bringing the total number of shares reserved for issuance since inception of all plans from 34.5 million shares at March 31, 2018 to 42.3 million shares beginning in the quarter ended September 30, 2018. The amendment received shareholder approval at the September 20, 2018 annual shareholders' meeting. Stock-based Compensation Expense The Company's stock-based compensation activity for the twelve months ended March 31, 2021, 2020, and 2019, by award type, was (dollars in thousands): For the twelve months ended March 31, 2021 2020 2019 Stock options $ 2,308 $ 3,675 $ 3,291 Restricted stock units 78,164 55,543 67,015 Arbor acquisition consideration holdback — 2,553 15,316 DPM acquisition consideration holdback 8,030 6,185 — PDP assumed performance plan 18,388 20,332 15,758 Acuity performance plan 2,208 — — DataFleets acquisition consideration holdback 755 — — Other stock-based compensation 1,854 1,159 1,342 Total non-cash stock-based compensation included in the consolidated statements of operations 111,707 89,447 102,722 Less expense related to liability-based equity awards (27,311) (24,228) (14,239) Total non-cash stock-based compensation included in the consolidated statements of equity $ 84,396 $ 65,219 $ 151,344 The effect of stock-based compensation expense on income, by financial statement line item, was (dollars in thousands): For the twelve months ended March 31, 2021 2020 2019 Cost of revenue $ 5,300 $ 3,769 $ 4,708 Research and development 38,960 23,260 28,225 Sales and marketing 40,401 38,026 43,971 General and administrative 27,046 24,392 25,818 Total non-cash stock-based compensation included in the consolidated statements of operations $ 111,707 $ 89,447 $ 102,722 In March 2021 and March 2019, the Company accelerated the vesting of certain time-vesting restricted stock units that would have otherwise vested over the following six months, respectively, to take advantage of significant cash tax savings opportunities. • In March 2021, this resulted in the vesting of time-vesting and performance-based restricted stock units covering approximately 0.7 million shares of common stock. The Company recognized $21.4 million of compensation costs related to the accelerated vesting of these units, which is included in loss from operations in the consolidated statement of operations. Of the $21.4 million compensation costs, $8.4 million represented incremental compensation cost due to the modification and $13.0 million represented accelerated original grant date fair value compensation cost. • In March 2019, this resulted in the vesting of time-vesting restricted stock units covering approximately 0.5 million shares of common stock. The Company recognized $19.8 million of compensation costs related to the accelerated vesting and release of these units, which is included in loss from operations in the consolidated statement of operations. Of the $19.8 million compensation costs, $14.3 million represented incremental compensation cost due to the modification and $5.5 million represented accelerated original grant date fair value compensation cost. The following table provides the expected future expense for all of the Company's outstanding equity awards at March 31, 2021, by award type (dollars in thousands). For the years ending March 31, 2022 2023 2024 2025 Total Stock options $ 1,955 $ 1,212 $ 720 $ 158 $ 4,045 Restricted stock units 44,902 46,799 27,540 8,218 127,459 DPM acquisition consideration holdback 8,123 2,031 — — 10,154 PDP assumed performance plan 9,194 — — — 9,194 Acuity performance plan 1,912 814 165 — 2,891 DataFleets acquisition consideration holdback 6,043 6,043 5,287 — 17,373 Other stock-based compensation 354 — — — 354 $ 72,483 $ 56,899 $ 33,712 $ 8,376 $ 171,470 Stock Options Activity of Continuing Operations In February 2021, in connection with the acquisition of DataFleets, the Company replaced all unvested outstanding stock options held by DataFleets associates immediately prior to the acquisition with options to acquire shares of LiveRamp common stock having substantially the same terms and conditions as were applicable under the original options. In total, the Company issued 42,154 replacement options at a weighted-average exercise price of $0.70 per share. The acquisition-date fair value of the replacement stock options was $2.9 million and was determined using a binomial lattice model. All of the replacement options require post-combination service. As a result, the $2.9 million acquisition-date fair value is considered future compensation cost and will be recognized as stock-based compensation cost over the remaining service period of the replacement options. In fiscal 2020, in connection with the acquisition of DPM, the Company replaced all outstanding stock options held by DPM associates immediately prior to the acquisition with options to acquire shares of LiveRamp common stock having substantially the same terms and conditions as were applicable under the original options. In total, the Company issued 162,481 replacement options at a weighted-average exercise price of $1.64 per share. The acquisition-date fair value of the replacement stock options was $7.4 million and was determined using a binomial lattice model. $2.3 million of the acquisition-date fair value of the replacement options was calculated and identified as consideration transferred in the DPM acquisition. The remaining $5.1 million acquisition-date fair value is considered future compensation costs and will be recognized as stock-based compensation cost over the remaining service period. Stock option activity for the twelve months ended March 31, 2021 was: Weighted-average Weighted-average remaining Aggregate Number of exercise price contractual term Intrinsic value shares per share (in years) (in thousands) Outstanding at March 31, 2020 1,350,658 $ 14.43 DataFleets replacement stock options issued 42,154 $ 0.70 Exercised (538,798) $ 12.16 $ 23,227 Forfeited or canceled (9,969) $ 4.14 Outstanding at March 31, 2021 844,045 $ 15.31 3.4 $ 30,863 Exercisable at March 31, 2021 776,744 $ 16.53 3.0 $ 27,454 The aggregate intrinsic value for options exercised in fiscal 2021, 2020, and 2019 was $23.2 million, $6.7 million, and $35.3 million, respectively. The aggregate intrinsic value at period end represents the total pre-tax intrinsic value (the difference between LiveRamp’s closing stock price on the last trading day of the period and the exercise price for each in-the-money option) that would have been received by the option holders had they exercised their options on March 31, 2021. This amount changes based upon changes in the fair market value of LiveRamp’s common stock. A summary of stock options outstanding and exercisable as of March 31, 2021 was: Options outstanding Options exercisable Range of Weighted-average Weighted-average Weighted-average exercise price Options remaining exercise price Options exercise price per share outstanding contractual life per share exercisable per share $ 0.61 — $ 9.99 152,105 5.7 years $ 1.30 84,804 $ 1.36 $ 10.00 — $ 19.99 346,807 2.7 years $ 15.50 346,807 $ 15.50 $ 20.00 — $ 24.99 345,133 3.1 years $ 21.31 345,133 $ 21.31 844,045 3.4 years $ 15.31 776,744 $ 16.53 Fiscal 2019 Restricted Stock Unit Activity Related to Disposition of AMS Performance-based Restricted Stock Unit Conversions In conjunction with the disposition of AMS, the Company converted its outstanding TSR-based performance restricted stock units ("PSUs") to time-vesting restricted stock units ("RSUs"). On the conversion date, the performance period was truncated and attainment measured, resulting in conversion of the PSUs to RSUs at a 200% conversion rate. Each converted RSU held by an AMS associate was vested immediately. The remaining converted RSUs will cliff vest on the same date as the original PSU performance period maturity date. Share activity related to these conversions was: Continuing Operations Discontinued Operations Total Continuing and Discontinued Operations TSR-based performance restricted stock units converted to time-based restricted stock units, by fiscal year granted: Original Performance Maturity Date: Fiscal 2017 PSU 3/31/2019 (168,378) (46,218) (214,596) Fiscal 2018 PSU 3/31/2020 (148,963) (36,815) (185,778) Fiscal 2019 PSU 3/31/2021 (186,539) (30,188) (216,727) Totals (503,880) (113,221) (617,101) Time-based restricted stock units converted from TSR-based performance restricted stock units RSU Cliff Vest Date (Continuing Ops Only): Fiscal 2017 PSU 3/31/2019 336,756 92,436 429,192 Fiscal 2018 PSU 3/31/2020 297,926 73,630 371,556 Fiscal 2019 PSU 3/31/2021 373,078 60,376 433,454 Totals 1,007,760 226,442 1,234,202 The Company recognized both incremental and accelerated compensation costs due to the modification in the consolidated statement of operations related to the PSU conversions. The impact on compensation costs was (dollars in thousands): Continuing Operations Discontinued Operations Total Continuing and Discontinued Operations Incremental compensation costs $ 7,179 $ 1,599 $ 8,778 Accelerated compensation costs of original grant date fair value related to immediate vesting of converted PSUs of AMS associates $ — $ 1,607 $ 1,607 AMS RSU Accelerations In conjunction with the disposition of AMS, the Company accelerated the vesting of substantially all outstanding RSUs of AMS associates to the date of disposition, including converted PSU shares, resulting in the release of RSUs covering 1,187,344 shares of common stock. The Company recognized $54.0 million of compensation costs related to the accelerated vesting and release of these units, which is included in net earnings from discontinued operations, net of tax in the consolidated statement of operations. Of the $54.0 million of compensation costs, $27.0 million represented incremental compensation cost and $27.0 million represented accelerated original grant date fair value compensation cost. Restricted Stock Unit Activity of Continuing Operations Time-vesting restricted stock units ("RSUs") - During the twelve months ended March 31, 2021, the Company granted time-vesting RSUs covering 2,228,445 shares of common stock and having a fair value at the date of grant of $99.8 million. The RSUs granted in the current year primarily vest over four years. Grant date fair value of these units is equal to the quoted market price for the shares on the date of grant. Included in the RSUs granted in the current fiscal year were units related to the DataFleets acquisition. Following the closing of the DataFleets acquisition, the Company granted new awards of RSUs covering 193,595 shares of common stock, and having a grant date fair value of $13.5 million, to select employees and contractors to induce them to accept employment with the Company. During fiscal 2020, the Company granted time-vesting RSUs covering 1,697,506 shares of common stock and having a fair value at the date of grant of $85.6 million. The RSUs granted in fiscal 2020 primarily vest over four years. Grant date fair value of these units is equal to the quoted market price for the shares on the date of grant. Included in the RSUs granted in fiscal 2020 were units related to the DPM acquisition. Following the closing of the DPM acquisition, the Company granted new awards of RSUs covering 155,346 shares of common stock, and having a grant date fair value of $7.3 million to select employees to induce them to accept employment with the Company. During fiscal 2019, the Company granted time-vesting RSUs covering 1,939,746 shares of common stock with a fair value at the date of grant of $69.5 million. Of the RSUs granted in fiscal 2019, 1,856,444 vest over four years and 83,302 vest over one year. RSU activity for the twelve months ended March 31, 2021 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2020 3,351,638 $ 40.68 2.51 Granted 2,228,445 $ 44.77 Vested (1,587,963) $ 37.23 Units vested under the Company's March 2021 acceleration plan (700,936) $ 40.37 Forfeited or canceled (598,941) $ 41.67 Outstanding at March 31, 2021 2,692,243 $ 45.96 2.76 The total fair value of RSUs vested during the twelve months ended March 31, 2021, 2020, and 2019 was $126.9 million, $59.8 million, and $93.1 million, respectively and is measured as the quoted market price of the Company's common stock on the vesting date for the number of shares vested. Performance-based restricted stock units ("PSUs") - Fiscal 2021 plans: During the twelve months ended March 31, 2021, the Company granted PSUs covering 246,524 shares of common stock having a fair value at the date of grant of $10.7 million. The grants were made under two separate performance plans. Under the first performance plan, units covering 73,950 shares of common stock were granted having a fair value at the date of grant of $4.2 million, determined using a Monte Carlo simulation model. The units vest subject to attainment of market conditions established by the compensation committee of the board of directors (“compensation committee”) and continuous employment through the vesting date. The units may vest in a number of shares from 0% to 200% of the award, based on the total shareholder return of LiveRamp common stock compared to total shareholder return of the Russell 2000 market index for the period from April 1, 2020 to March 31, 2023. Under the second performance plan, units covering 172,574 shares of common stock were granted having a fair value at the date of grant of $6.5 million, which was equal to the quoted market price for the shares on the date of grant. The units vest subject to attainment of performance criteria established by the compensation committee and continuous employment through the vesting date. The units may vest in a number of shares from 0% to 200% of the award, based on the attainment of trailing twelve-month revenue growth and EBITDA margin targets for the period from April 1, 2020 to March 31, 2023. Performance will be measured and vesting evaluated on a quarterly basis beginning with the period ending June 30, 2021 and continuing through the end of the performance period. To the extent that shares are earned in a given quarter, 50% vest immediately and 50% vest on the one-year anniversary of attainment approval, except that all earned but unvested shares will vest fully at the end of the measurement period. Fiscal 2020 plans : During fiscal 2020, the Company granted PSUs covering 202,818 shares of common stock having a fair value at the date of grant of $12.3 million. The grants were made under two separate performance plans. Under the first performance plan, units covering 60,844 shares of common stock were granted having a fair value at the date of grant of $4.4 million, determined using a Monte Carlo simulation model. The units vest subject to attainment of market conditions established by the compensation committee of the board of directors (“compensation committee”) and continuous employment through the vesting date. The units may vest in a number of shares from 0% to 200% of the award, based on the total shareholder return of LiveRamp common stock compared to total shareholder return of the Russell 2000 market index for the period from April 1, 2019 to March 31, 2022. Under the second performance plan, units covering 141,974 shares of common stock were granted having a fair value at the date of grant of $7.9 million equal to the quoted market price for the shares on the date of grant. The units vest subject to attainment of performance criteria established by the compensation committee of the board of directors. • 82,494 units may vest in a number of shares from 0% to 200% of the award, based on attainment of the Company's three-year revenue compound annual growth rate target for the period from April 1, 2019 to March 31, 2022. • 59,480 units vest based on attainment of the year-over-year revenue growth targets for the annual period from April 1, 2019 to March 31, 2020. The 59,480 units reached maturity of the relevant performance period at March 31, 2020. During the first quarter of fiscal 2021, the compensation committee approved the final performance attainment of 164% resulting in an additional award of 38,063 units (for a total earned amount of 97,543 units). Of the earned amount, one-third vested immediately, while the remaining two-thirds will vest in equal increments in first quarters of fiscal years 2022 and 2023. Fiscal 2019 plans : During fiscal 2019, the Company granted PSUs covering 534,438 shares of common stock having a fair value at the date of grant of $22.0 million. The grants were made under two separate performance plans. Under the first performance plan, units covering 186,539 shares of common stock were granted having a fair value at the date of grant of $5.8 million, determined using a Monte Carlo simulation model. The units vest subject to attainment of market conditions established by the compensation committee and continuous employment through the vesting date. The 186,539 units may vest in a number of shares from 25% to 200% of the award, based on the total shareholder return of LiveRamp common stock compared to total shareholder return of a group of peer companies established by the compensation committee for the period from April 1, 2018 to March 31, 2021. All of these awards were converted to RSUs at the time of the AMS disposition. Under the second performance plan, units covering 347,899 shares of common stock were granted having a fair value at the date of grant of $16.2 million equal to the quoted market price for the shares on the date of grant. The units vest subject to attainment of performance criteria established by the compensation committee for the period October 1, 2018 to September 30, 2022. The units may vest in a number of shares from 0% to 200% of the award, based on the attainment of revenue growth and margin targets. Of the earned units, one-half vests immediately, while the remaining one-half vests one year later. Vesting is evaluated and performance measured on a quarterly basis, which began with the period ended June 30, 2020. Through the quarter ended March 31, 2021, the compensation committee has approved quarterly performance measurements totaling 57% attainment. Net of forfeitures, this resulted in a total of 177,181 units being earned under the plan. As of March 31, 2021, there remains a maximum potential of 432,652 additional units eligible for attainment under the plan. Quarterly measurements of attainment will continue through September 30, 2022. PSU activity for the twelve months ended March 31, 2021 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2020 545,446 $ 51.01 2.24 Granted 246,524 $ 43.40 Additional earned performance shares 38,063 $ 55.48 Vested (122,573) $ 48.86 Units vested under the Company's March 2021 acceleration plan (39,344) $ 49.14 Forfeited or canceled (36,247) $ 35.42 Outstanding at March 31, 2021 631,869 $ 49.74 1.54 The total fair value of PSUs vested in the twelve months ended March 31, 2021 and 2020 was $8.4 million and $2.2 million, respectively, and is measured as the quoted market price of the Company’s common stock on the vesting date for the number of shares vested. Stock-based Compensation Expense Related to Discontinued Operations Total stock-based compensation expense related to discontinued operations for fiscal 2019 was $62.9 million and is included in non-cash stock-based compensation in the consolidated statements of equity. Acquisition-related Performance Plan As part of the Company's fiscal 2021 acquisition of Acuity Data, the Company will be obligated to pay up to an additional $5.1 million, settled in a variable number of shares of Company stock, and subject to certain performance conditions and continued employment of each participant. Performance will be measured and vesting evaluated in three annual increments on the anniversary of the closing date (which date may be changed by the board of directors to an earlier date). Through March 31, 2021, the Company had recognized a total of $2.2 million related to the plan. At March 31, 2021, the recognized, but unpaid, balance in other accrued expense in the consolidated balance sheet was $2.2 million. The first annual settlement is expected to occur in the second quarter of fiscal 2022. Consideration Holdback As part of the Company's fiscal 2021 acquisition of DataFleets, $18.1 million of the acquisition consideration otherwise payable with respect to shares of DataFleets common stock held by certain key employees was subject to holdback by the Company pursuant to agreements with those employees (each, a "Holdback Agreement"). Each Holdback Agreement specifies that the consideration holdback will vest in three equal annual increments on the anniversary of the closing date (which date may be changed by the board of directors to an earlier date). Vesting is subject to the DataFleets key employees' continued employment through each annual vesting date and will be settled in shares of Company common stock. Through March 31, 2021, the Company had recognized a total of $0.8 million related to the DataFleets consideration holdback. At March 31, 2021, the recognized, but unpaid, balance related to the DataFleets consideration holdback in other accrued expenses in the consolidated balance sheet was $0.8 million. The first annual settlement is expected to occur in the fourth quarter of fiscal 2022. As part of the Company's fiscal 2020 acquisition of Data Plus Math ("DPM"), $24.4 million of the acquisition consideration otherwise payable with respect to shares of DPM common stock held by certain key employees was subject to holdback by the Company pursuant to agreements with those employees (each, a "Holdback Agreement"). Each Holdback Agreement specifies that the consideration holdback will vest in three equal annual increments on the anniversary of the closing date (which date may be changed by the board of directors to an earlier date). Vesting is subject to the DPM key employees' continued employment through each annual vesting date and will be settled in shares of Company common stock. Through March 31, 2021, the Company had recognized a total of $14.2 million related to the DPM consideration holdback. At March 31, 2021, the recognized, but unpaid, balance related to the DPM consideration holdback in other accrued expenses in the consolidated balance sheet was $6.1 million. The next annual settlement is expected to occur at the end of the first quarter of fiscal 2022. Pacific Data Partners ("PDP") Assumed Performance Plan In connection with the fiscal 2018 acquisition of PDP, the Company assumed the outstanding performance compensation plan under the PDP 2018 Equity Compensation Plan ("PDP PSU plan"). During fiscal 2020, the Company converted the outstanding PDP PSU plan to a time-vesting restricted stock plan ("PDP RSU plan"). Through March 31, 2021, the Company has recognized a total of $56.4 million related to the PDP RSU plan. At March 31, 2021, the recognized, but unpaid, balance related to the liability-classified PDP RSU plan in other accrued expenses in the consolidated balance sheet was $0.0 million. The final annual settlement is expected to occur in the fourth quarter of fiscal 2022. Qualified Employee Stock Purchase Plan In addition to the stock-based compensation plans, the Company maintains a qualified employee stock purchase plan (“ESPP”) that permits substantially all employees to purchase shares of common stock at a discount from the market price. At March 31, 2021, there were approximately 0.4 million shares available for issuance under the ESPP, including 0.1 million shares subject to purchase in the current purchase period. During the combined fiscal years of 2021, 2020, and 2019, 200,683 shares were purchased under the plan. The total expense to the Company, representing the discount to the market price, for fiscal 2021, 2020, and 2019 was approximately $1.0 million, $0.5 million, and $0.4 million, respectively. Accumulated Other Comprehensive Income Accumulated other comprehensive income accumulated balances of $7.5 million and $5.7 million at March 31, 2021 and March 31, 2020, respectively, reflect accumulated foreign currency translation adjustments. |
INCOME TAX_
INCOME TAX: | 12 Months Ended |
Mar. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
INCOME TAX: | INCOME TAX: Total income tax expense (benefit) was allocated as follows (dollars in thousands): Year ended March 31, 2021 2020 2019 Continuing operations $ (30,532) $ (40,276) $ (45,409) Discontinued operations — 207 470,346 $ (30,532) $ (40,069) $ 424,937 Income tax expense (benefit) attributable to loss from continuing operations consists of (dollars in thousands): Year ended March 31, 2021 2020 2019 Current: U.S. Federal $ (28,060) $ (33,715) $ (39,534) Non-U.S. 17 146 323 State (1,071) 171 (16,092) (29,114) (33,398) (55,303) Deferred: U.S. Federal (1,205) (5,103) 1,245 Non-U.S. (44) (1,006) 149 State (169) (769) 8,500 (1,418) (6,878) 9,894 Total $ (30,532) $ (40,276) $ (45,409) Loss before income tax attributable to U.S. and non-U.S. continuing operations consists of (dollars in thousands): Year ended March 31, 2021 2020 2019 U.S. $ (122,257) $ (160,457) $ (174,867) Non-U.S. 1,457 (5,080) (4,489) Total $ (120,800) $ (165,537) $ (179,356) Loss before income taxes, as shown above, is based on the location of the entity to which such losses are attributable. However, since such losses may be subject to taxation in more than one country, the income tax provision shown above as U.S. or non-U.S. may not correspond to the loss shown above. Below is a reconciliation of expected income tax benefit computed by applying the U.S. federal statutory rate of 21.0% for fiscal years 2021, 2020 and 2019 to loss before income taxes to actual income tax benefit from continuing operations (dollars in thousands): Year ended March 31, 2021 2020 2019 Computed expected income tax benefit $ (25,368) $ (34,763) $ (37,665) Increase (reduction) in income taxes resulting from: State income taxes, net of federal benefit (979) (473) (5,998) Research and other tax credits (4,635) (1,517) (3,141) Nondeductible expenses 1,104 838 426 Stock-based compensation (2,024) 5,025 (5,350) Non-U.S. subsidiaries taxed at other rates 194 230 1,343 Adjustment to valuation allowances 2,230 (2,245) 5,204 Net operating loss carryback taxed at other rates — (7,360) — Other, net (1,054) (11) (228) $ (30,532) $ (40,276) $ (45,409) On March 27, 2020, the U.S. enacted The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). The CARES Act included several significant changes and clarifications to existing tax law, including changes to the treatment of net operating losses (“NOLs”). Under the CARES Act, NOLs arising in tax years beginning after December 31, 2017, and before January 1, 2021 may be carried back to each of the five tax years preceding the tax year of the loss. As such, the Company plans to carry back its fiscal 2021 NOL, resulting in an expected refund of approximately $28 million. The Company was also able to carry back its fiscal 2020 NOL, resulting in an expected refund of approximately $33 million, also in fiscal 2022. The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities at March 31, 2021 and 2020 are presented below (dollars in thousands). 2021 2020 Deferred tax assets: Accrued expenses $ 3,501 $ 3,978 Deferred revenue 11 16 Lease liabilities 3,324 4,939 Net operating loss carryforwards 35,945 33,516 Stock-based compensation 2,991 8,076 Nonqualified deferred compensation 2,802 2,815 Tax credit carryforwards 7,818 1,240 Other 2,856 2,778 Total deferred tax assets 59,248 57,358 Less valuation allowance (35,332) (32,971) Net deferred tax assets 23,916 24,387 Deferred tax liabilities: Prepaid expenses (6,734) (2,239) Property and equipment (248) (1,742) Right-of-use assets (3,016) (4,147) Intangible assets (8,409) (9,605) Deferred commissions (5,391) (3,817) Accrued expenses — (2,189) Total deferred tax liabilities (23,798) (23,739) Net deferred tax assets $ 118 $ 648 At March 31, 2021, the Company has net operating loss carryforwards of approximately $34.3 million and $126.2 million for U.S. federal and state income tax purposes, respectively. Of the net operating loss carryforwards, $24.0 million and $18.9 million will not expire for federal and state purposes, respectively. The remaining carryforwards will expire in various amounts and will completely expire if not used by 2041. The Company has foreign net operating loss carryforwards of approximately $101.0 million. Of this amount, $90.2 million do not have expiration dates. The remainder expires in various amounts and will completely expire if not used by 2031. The Company has federal and state credit carryforwards of $5.4 million and $5.8 million, respectively. Of the state credit carryforwards, $5.2 million will not expire. The remaining credit carryforwards will expire in various amounts and will completely expire if not used by 2041. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. Realization of the Company’s net deferred tax assets is dependent upon its generation of sufficient taxable income of the proper character in future years in appropriate tax jurisdictions to obtain benefit from the reversal of temporary differences and the use of net operating loss and credit carryforwards. Based upon the weight of available evidence, including the Company’s history of losses from continuing operations, management believes that it is not more likely than not the Company will realize the benefits of the deductible temporary differences and net operating loss and credit carryforwards. Accordingly, the Company has established valuation allowances against its deferred tax assets. Based upon the Company's history of losses in certain non-U.S. jurisdictions, the Company has not recorded a benefit for current foreign losses in these jurisdictions. In addition, management believes it is not more than likely than not the Company will realize the benefits of certain foreign net operating loss carryforwards and has established valuation allowances in the amount of $26.0 million against deferred tax assets in such jurisdictions. No valuation allowance has been established against deferred tax assets in non-U.S. jurisdictions in which historical profits and forecasted continuing profits exist. The following table sets forth changes in the total gross unrecognized tax benefits for the fiscal years ended March 31, 2021, 2020 and 2019 (dollars in thousands): Year ended March 31, 2021 2020 2019 Balance at beginning of period $ 23,400 $ 19,600 $ 15,415 Increases related to prior year tax positions — 2,458 325 Decreases related to prior year tax positions (139) (1,048) (292) Increases related to current year tax positions 1,765 2,433 5,483 Lapse of statute of limitations — (43) (1,331) Balance at end of period $ 25,026 $ 23,400 $ 19,600 Gross unrecognized tax benefits as of March 31, 2021 was $25.0 million, of which $22.6 million would reduce the Company’s effective tax rate in future periods if and when realized. The Company reports accrued interest and penalties related to unrecognized tax benefits in income tax expense. The combined amount of accrued interest and penalties related to tax positions on tax returns was approximately $3.5 million as of March 31, 2021. Accrued interest and penalties increased by $1.0 million during fiscal 2021. The Company does not anticipate a reduction of unrecognized tax benefits within the next 12 months. The Company files a consolidated U.S. federal income tax return and tax returns in various state and local jurisdictions. The Company’s subsidiaries also file tax returns in various foreign jurisdictions in which they operate. In the U.S., the statute of limitations for Internal Revenue Service examinations remains open for the Company’s federal income tax returns for fiscal years after 2013. The status of U.S. federal, state and foreign tax examinations varies by jurisdiction. The Company does not anticipate any material adjustments to its financial statements resulting from tax examinations currently in progress. |
RETIREMENT PLANS_
RETIREMENT PLANS: | 12 Months Ended |
Mar. 31, 2021 | |
Retirement Benefits [Abstract] | |
RETIREMENT PLANS: | RETIREMENT PLANS: The Company has a qualified 401(k) retirement savings plan that covers substantially all U.S. employees. The Company also offers a supplemental non-qualified deferred compensation plan (“SNQDC Plan”) for certain highly-compensated employees. Through December 31, 2018, the Company matched 50% of the first 6% of each participating employee’s annual aggregate contributions. Effective January 1, 2019 the Company matches 100% of the first 6% of each participating employee's annual aggregate contributions. The Company may also contribute additional amounts to the plans at the discretion of the board of directors. Company contributions for the above plans amounted to approximately $9.4 million, $7.9 million, and $2.9 million in fiscal years 2021, 2020, and 2019, respectively. Included in both other current assets and other accrued liabilities are the assets and liabilities of the SNQDC Plan in the amount of $15.8 million and $11.6 million at March 31, 2021 and 2020, respectively. |
FOREIGN OPERATIONS_
FOREIGN OPERATIONS: | 12 Months Ended |
Mar. 31, 2021 | |
Segments, Geographical Areas [Abstract] | |
FOREIGN OPERATIONS: | FOREIGN OPERATIONS: The Company attributes revenue to each geographic region based on the location of the Company’s operations. The following table shows financial information by geographic area (dollars in thousands): Year ended March 31, Revenue 2021 2020 2019 United States $ 415,976 $ 354,437 $ 262,135 Foreign Europe 22,515 20,789 18,566 APAC 4,535 5,346 4,919 All Foreign 27,050 26,135 23,485 $ 443,026 $ 380,572 $ 285,620 Long-lived assets excluding financial instruments (dollars in thousands): March 31, 2021 2020 United States $ 456,662 $ 399,456 Foreign Europe 1,084 2,724 APAC 4,860 3,638 All Foreign 5,944 6,362 $ 462,606 $ 405,818 |
FAIR VALUE OF FINANCIAL INSTRUM
FAIR VALUE OF FINANCIAL INSTRUMENTS: | 12 Months Ended |
Mar. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE OF FINANCIAL INSTRUMENTS: | FAIR VALUE OF FINANCIAL INSTRUMENTS: The Company measures certain financial assets at fair value. Fair value is determined based upon the exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as determined by either the principal market or the most advantageous market. Inputs used in the valuation techniques to derive fair values are classified based on a three-level hierarchy, as follows: • Level 1 - Quoted prices in active markets for identical assets or liabilities. • Level 2 - Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3 - Unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities. For certain financial instruments, including accounts receivable, certificates of deposit, and accounts payable, the carrying amounts approximate their fair value due to the relatively short maturity of these balances. The following tables detail the fair value measurements within the fair value hierarchy of the Company's financial assets and liabilities at March 31, 2021 and March 31, 2020 (dollars in thousands): March 31, 2021 Level 1 Level 2 Level 3 Total Other current assets: Assets of non-qualified retirement plan $ 15,838 $ — $ — $ 15,838 Total $ 15,838 $ — $ — $ 15,838 March 31, 2020 Level 1 Level 2 Level 3 Total Other current assets: Assets of non-qualified retirement plan $ 11,623 $ — $ — $ 11,623 Total $ 11,623 $ — $ — $ 11,623 |
SUBSEQUENT EVENT
SUBSEQUENT EVENT | 12 Months Ended |
Mar. 31, 2021 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENT | SUBSEQUENT EVENTOn April 21, 2021, the Company completed the acquisition Diablo.AI, Inc. ("Diablo"), a first-party data resolution platform and graph builder, for approximately $8.6 million in cash (including holdback of $1.2 million). The acquisition also includes $2.1 million of assumed restricted stock awards that will be recorded as non-cash stock compensation over a three-year period. Diablo's technology will be embedded into our unified platform and play an integral role in our global identity relaunch. The initial accounting for this acquisition is incomplete due to the timing of the acquisition, including the disclosure of the major classes of assets acquired and liabilities assumed. |
ORGANIZATION AND SUMMARY OF S_2
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Policies) | 12 Months Ended |
Mar. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation and Principles of Consolidation | Basis of Presentation and Principles of Consolidation - The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries, after elimination of all significant intercompany accounts and transactions. We have prepared the accompanying consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“GAAP”) as set forth in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification and Updates (“ASC” and "ASU") and we consider the various staff accounting bulletins and other applicable guidance issued by the United States Securities and Exchange Commission ("SEC"). Our fiscal year ends on March 31. References to fiscal 2021, for example, are to the fiscal year ended March 31, 2021. |
Use of Estimates | Use of Estimates -In preparing consolidated financial statements and related disclosures in conformity with GAAP and pursuant to the rules and regulations of the SEC, we must make estimates and judgments that affect the amounts reported in the consolidated financial statements and accompanying notes. Estimates are used in determining, among other items, revenue recognition criteria, allowance for doubtful accounts, the fair value of acquired assets and assumed liabilities, restructuring and impairment accruals, litigation and facilities lease loss accruals, stock-based compensation, and the recognition and measurement of current and deferred income taxes, including the measurement of uncertain tax positions. |
Operating Segments | Operating Segments - The Company operates as one operating segment. Operating segments are defined as components of an enterprise for which separate financial information is evaluated regularly by our Chief Operating Decision Maker ("CODM"). Our Chief Executive Officer is our CODM. Our CODM evaluates our financial information and resources and assesses the performance of these resources on a consolidated basis. Since we operate as one operating segment, all required financial segment information can be found in the consolidated financial statements. |
Discontinued Operations | Discontinued Operations -Discontinued operations comprise those activities that have been disposed of during the period or that have been classified as held for sale at the end of the period and represent a separate major line of business or geographical area that can be clearly distinguished for operational and financial reporting purposes. In fiscal 2019, the Company sold its Acxiom Marketing Solutions business (“AMS”) and began reporting the results of operations, cash flows and the balance sheet amounts pertaining to AMS as a component of discontinued operations in the consolidated financial statements. The amount recorded in fiscal 2020 relates to the final working capital true-up and receipt of final proceeds. |
Cash and Cash Equivalents | Cash and Cash Equivalents -The Company considers all highly-liquid investments purchased with original maturities of three months or less to be cash equivalents. Cash and cash equivalents consist of cash held in bank deposit accounts and short-term, highly-liquid money-market fund investments with remaining maturities of three months or less at the date of purchase. |
Revenue Recognition | Revenue Recognition - LiveRamp recognizes revenue from the following sources: (i) subscription revenue, which consists primarily of subscription fees from clients accessing our LiveRamp platform; and (ii) marketplace and other revenue, which primarily consists of revenue-sharing fees generated from access to data through our LiveRamp Data Marketplace, and transactional usage-based revenue from arrangements with certain publishers and addressable TV providers. We determine revenue recognition through the following steps: • Identification of the contract, or contracts, with a customer; • Identification of the performance obligations in the contract; • Determination of the transaction price; • Allocation of the transaction price to the performance obligations in the contract; and • Recognition of revenue when, or as, the performance obligations are satisfied. Identification of the contract We consider the terms and conditions of the contract and our customary business practices when identifying our contracts under ASC 606. We determine we have a contract with a customer when the contract or contract modification is approved and the parties are committed to performing their respective obligations, we can identify each party's rights regarding the services to be transferred, we can identify the payment terms for the services, we have determined the contract has commercial substance, and we have determined that collection of at least some of the contract consideration is probable. At contract inception we evaluate whether two or more contracts should be combined and accounted for as a single contract and whether the single or combined contract includes one or multiple performance obligations. We apply judgment in determining the customer's ability to pay, which is based on a variety of factors, including the customer's historical payment experience or, in the case of a new customer, credit and financial information pertaining to the customer. Identification of the performance obligations As part of accounting for arrangements with multiple performance obligations, we must assess whether each performance obligation is distinct. A good or service that is promised to a customer is distinct if the customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer, and a company's promise to transfer the good or service to the customer is separately identifiable from other promises in the contract. We have determined that our subscriptions to the platform are a distinct performance obligation and access to data for revenue-sharing and usage-based arrangements is a distinct performance obligation because, once a customer has access to the platform, the service is fully functional and does not require any additional development, modification, or customization. Determination of the transaction price The transaction price is the amount of consideration we expect to be entitled to in exchange for transferring services to a customer, excluding sales taxes that are collected on behalf of government agencies. Variable consideration is assessed and included in the transaction price if, in our judgment, it is probable that a significant future reversal of cumulative revenue under the contract will not occur. None of our contracts contain a significant financing component. Allocation of the transaction price to the performance obligations in the contract If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each distinct performance obligation based on the standalone selling price ("SSP") of each service. We generally determine the SSP based on contractual selling prices when the obligation is sold on a standalone basis, as well as market conditions, competition, and pricing practices. As pricing and marketing strategies evolve, we may modify our pricing practices in the future, which could result in changes to SSP. Recognition of revenue when, or as, the performance obligations are satisfied Revenues are recognized when or as control of the promised services is transferred to customers. Subscription revenue is generally recognized ratably over the subscription period beginning on the date the services are made available to customers. Marketplace and other revenue is typically transactional in nature, tied to a revenue share or volumes purchased. We report revenue from Data Marketplace and other similar transactions on a net basis because our performance obligation is to facilitate a transaction between data providers and data buyers, for which we earn a portion of the gross fee. Consequently, the portion of the gross amount billed to data buyers that is remitted to data providers is not reflected as revenues. |
Accounts Receivable | Accounts Receivable Accounts receivable includes amounts billed to customers as well as unbilled amounts recognized in accordance with the Company’s revenue recognition policies. Unbilled amounts included in trade accounts receivable, net, which generally arise from the performance of services to customers in advance of billings, were $8.0 million at March 31, 2021 and $5.0 million at March 31, 2020. |
Deferred Revenue | Deferred Revenue Deferred revenue consists of amounts billed in excess of revenue recognized. Deferred revenues are subsequently recorded as revenue when earned in accordance with the Company’s revenue recognition policies. |
Deferred Commissions, net | Deferred Commissions, net - |
Property and Equipment | Property and Equipment -Property and equipment are stated at cost. Depreciation and amortization are calculated on the straight-line method over the estimated useful lives of the assets as follows: leasehold improvements, 5 - 7 years; data processing equipment, 2 - 5 years, and office furniture and other equipment, 3 - 7 years. |
Operating Leases | Operating Leases - On April 1, 2019, the Company adopted ASU No. 2016-02, codified as ASC 842 Leases , using the modified retrospective transition method. The Company elected the transition option provided by ASU No. 2018-11, Leases (Topic 842): Targeted Improvements, to not restate comparative periods, but rather to initially adopt the requirements of ASC 842 on April 1, 2019. The resulting impact, as of the adoption date, was the recognition of right-of-use assets included in other assets, net of $22.9 million, short-term lease liabilities included in other accrued expenses of $8.4 million, long-term lease liabilities included in other liabilities of $17.9 million, and a decrease to deferred rent included in other liabilities of $3.4 million. There was no material impact to the consolidated statements of operations or stockholders' equity as a result of adopting the new guidance. The Company applied the new standard using the practical expedients permitted under the transition guidance where the Company: • did not reassess whether any expired or existing contracts contain a lease; • did not reassess the classification of existing leases; and • did not reassess initial direct costs for any existing leases. Right-of-use assets represent the Company's right to control the use of an identified asset for a period of time, or term, in exchange for consideration, and operating lease liabilities represent its obligation to make lease payments arising from the aforementioned right. The Company determines if an arrangement is, or contains, a lease at inception, and whether lease and non-lease components are combined or not. Operating leases with a duration of one year or less are excluded from right-of-use assets and lease liabilities and related expense is recorded as incurred. Right-of-use assets and lease liabilities are initially recorded based on the present value of lease payments over the lease term, which includes the minimum unconditional term of the lease, and may include options to extend or terminate the lease when it is reasonably certain at the commencement date that such options will be exercised. As the rate implicit for each of the Company's leases is not readily determinable, the Company uses its incremental borrowing rate at commencement date in determining the present value of lease payments. The Company uses judgement in determining its incremental borrowing rate, which includes selecting a yield curve based on a hypothetical credit rating. Right-of-use assets also include any initial direct costs and any lease payments made prior to the lease commencement date and are reduced by any lease incentives received. Right-of-use assets are included in other assets in the consolidated balance sheet. Short-term lease liabilities are included in other accrued expenses and long-term lease liabilities are included in other liabilities in the consolidated balance sheet. Right-of-use assets are amortized on a straight-line basis as operating lease cost in the consolidated statements of operations. |
Business Combinations | Business Combinations – We apply the provisions of ASC 805, Business Combinations , in accounting for acquisitions. ASC 805 requires us to determine if assets or a business was acquired. If a business was acquired, it requires us to recognize separately from goodwill the fair value of the assets acquired and the liabilities assumed at the acquisition date. Goodwill as of the acquisition date is measured as the excess of the fair value of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. While we use our best estimates and assumptions to accurately value assets acquired and liabilities assumed at the acquisition date as well as any contingent consideration, where applicable, our estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, we record adjustments resulting from new information about facts and circumstances that existed at the acquisition date and falls within the measurement period to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired and liabilities assumed, whichever comes first, any subsequent adjustments are recorded to our consolidated statements of operations. |
Goodwill | Goodwill - Goodwill represents the excess of the purchase price over the fair value of net assets acquired in business acquisitions accounted for using the acquisition method of accounting and is not amortized. Goodwill is measured and tested for impairment on an annual basis in the first quarter of the Company's fiscal year in accordance with ASC 350, Intangibles-Goodwill and Other , or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Such events and changes may include: significant changes in performance related to expected operating results, significant changes in asset use, significant changes in asset use, significant negative industry or economic trends, and changes in our business strategy. |
Intangible Assets | Intangible Assets - We amortize intangible assets with finite lives over their estimated useful lives and review them for impairment whenever an impairment indicator exists. We continually monitor events and changes in circumstances that could indicate carrying amounts of our long-lived assets, including our intangible assets, may not be recoverable. When such events or changes in circumstances occur, we assess recoverability by determining whether the carrying value of such assets will be recovered through the undiscounted expected future cash flows. If the future undiscounted cash flows are less than the carrying amount of these assets, we recognize an impairment loss based on any excess of the carrying amount over the fair value of the assets. We did not recognize any intangible asset impairment charges in fiscal 2021, 2020 or 2019. |
Impairment of Long-lived Assets | Impairment of Long-lived Assets - Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company considers factors such as operating losses, declining outlooks, and business conditions when evaluating the necessity for an impairment analysis. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset group to the undiscounted cash flows expected to result from the use and eventual disposition of the asset group. If such assets are impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. We did not recognize any impairment charges related to long-lived assets in fiscal 2021, 2020 or 2019. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments - We apply the provisions of ASC 820, Fair Value Measurement , to our assets and liabilities that we are required to measure at fair value pursuant to other accounting standards. The additional disclosure regarding our fair value measurements is included in Note 18 - Fair Value of Financial Instruments. |
Concentration of Credit Risk and Significant Customers | Concentration of Credit Risk and Significant Customers - Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents and trade accounts receivable. The Company maintains deposits in federally insured financial institutions more than federally insured limits. Management, however, believes the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. The Company has no significant off-balance sheet risk such as foreign exchange contracts, options contracts, or other hedging arrangements. The Company’s trade accounts receivables are from a large number of customers. Accordingly, the Company’s credit risk is affected by general economic conditions. At March 31, 2021 there were no customers that represented more than 10% of the trade accounts receivable balance. Our ten largest clients represented approximately 33% of our revenues in fiscal year 2021. One client, The Interpublic Group of Companies, accounted for 11%of our revenues in fiscal year 2021. |
Income Taxes | Income Taxes - The Company and its domestic subsidiaries file a consolidated federal income tax return. The Company’s foreign subsidiaries file separate income tax returns in the countries in which their operations are based. The Company makes estimates and judgments in determining the provision for income taxes for financial statement purposes. These estimates and judgments occur in the calculation of tax credits, benefits, and deductions, and in the calculation of certain deferred tax assets and liabilities that arise from differences in the timing of recognition of revenue and expense for tax and financial statement purposes, as well as the interest and penalties related to uncertain tax positions. Significant changes in these estimates may result in an increase or decrease to the tax provision in a subsequent period. The Company assesses the likelihood that it will be able to recover its deferred tax assets. If recovery is not likely, the Company increases the provision for taxes by recording a valuation allowance against the deferred tax assets that it estimates will not ultimately be recoverable. The calculation of tax liabilities involves dealing with uncertainties in the application of complex tax laws and regulations. The Company recognizes liabilities for uncertain tax positions based on a two-step process pursuant to ASC 740, Income Taxes . The first step is to evaluate the tax position for recognition by determining whether the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. If the Company determines that a tax position will more likely than not be sustained on audit, the second step requires the Company to estimate and measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. It is inherently difficult and subjective to estimate such amounts, as the Company must determine the probability of various outcomes. The Company re-evaluates these uncertain tax positions on a quarterly basis. This evaluation is based on factors such as changes in facts or circumstances, changes in tax law, new audit activity, and effectively settled issues. Determining whether an uncertain tax position is effectively settled requires judgment. Such a change in recognition or measurement would result in the recognition of a tax benefit or an additional charge to the tax provision. |
Foreign Currency | Foreign Currency - The reporting currency of the Company is the U.S. dollar. The functional currency of our foreign operations generally is the applicable local currency for each foreign subsidiary. The balance sheets of the Company’s foreign subsidiaries are translated at period-end rates of exchange, and the statements of operations are translated at the average exchange rate for the period. The effects of foreign currency translation adjustments are included in accumulated other comprehensive income in the consolidated statements of equity and comprehensive income (loss). We reflect net foreign exchange transaction gains and losses, resulting from the conversion of the transaction currency to functional currency, as a component of foreign currency exchange gain (loss) in total other income (expense) in the consolidated statements of operations. |
Advertising Expense | Advertising Expense - Advertising costs are expensed as incurred. Advertising expense was approximately $7.0 million, $9.8 million, and $8.2 million for the fiscal years ended March 31, 2021, 2020 and 2019, respectively. Advertising expense is included in operating expenses in the consolidated statements of operations. |
Legal Contingencies | Legal Contingencies - We are currently involved in various claims and legal proceedings. Quarterly, we review the status of each significant matter and assess our potential financial exposure. We accrue a liability for an estimated loss if the potential loss from any claim or legal proceeding is considered probable, and the amount can be reasonably estimated. Note 13 - Commitments and Contingencies provides additional information regarding certain of our legal contingencies. |
Stock-Based Compensation | Stock-Based Compensation - The Company records stock-based compensation expense according to the provisions of ASC Topic 718, Compensation – Stock Compensation . ASC Topic 718 requires all stock-based payments to employees, including grants of employee stock options, to be recognized in the statement of operations over the service period of the award based on their fair values. Under the provisions of ASC Topic 718, the Company determines the appropriate fair value model to be used for valuing stock-based payments and the amortization method for compensation cost. The Company has stock option plans and equity compensation plans (collectively referred to as the “stock-based plans”) administered by the compensation committee of the board of directors (“compensation committee”) under which options and restricted stock units were outstanding as of March 31, 2021. The Company’s equity compensation plan provides that all associates (employees, officers, directors, affiliates, independent contractors or consultants) are eligible to receive awards (grant of any option, stock appreciation right, restricted stock award, restricted stock unit award, performance award, performance share, performance unit, qualified performance-based award, or other stock unit award) under the plan with the terms and conditions applicable to an award set forth in applicable grant documents. Incentive stock option awards granted under the stock-based plans cannot be granted with an exercise price less than 100% of the per-share market value of the Company’s shares at the date of grant and have a maximum duration of ten years from the date of grant. Board policy currently requires that non-qualified options also must be priced at or above 100% of the fair market value of the common stock at the time of grant with a maximum duration of ten years. |
Restructuring | Restructuring – The Company records costs associated with employee terminations and other exit activity in accordance with ASC 420, Exit or Disposal Cost Obligations |
Accounting Pronouncements Adopted During the Current Year and Recent accounting pronouncements not yet adopted | Accounting Pronouncements Adopted During the Current Year - Standard Description Date of Adoption Effect on Financial Statements or Other Significant Matters Accounting Standards Update ("ASU") ASU 2018-15 Intangibles-Goodwill and Other-Internal Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract ("ASU 2018-15") ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a cloud computing arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software and hosting arrangements that include an internal use software license. Previously, all implementation costs for a hosting arrangement that was a service contract were expensed when incurred. April 1, 2020 The effect of prospectively adopting ASU 2018-15 on our consolidated financial statements and related disclosures was not material. ASU 2018-13 Fair Value Measurement (Topic 820): Disclosure Framework ("ASU 2018-13") ASU 2018-13 eliminates, modifies and adds disclosure requirements for fair value measurements. April 1, 2020 The effect of adopting ASU 2018-13 on our consolidated financial statements and related disclosures was not material. ASU 2016-13 , Financial Instruments-Credit Losses (Topic 326) ("ASU 2016-13") ASU 2016-13 introduces new methodology for accounting for credit losses on financial instruments. The guidance establishes a new forward looking "expected loss model" that requires entities to estimate expected credit losses on accounts receivable and other financial instruments by using all practical and relevant information. April 1, 2020 The effect of adopting ASU 2016-13 on our consolidated financial statements and related disclosures was not material. Recent accounting pronouncements not yet adopted - Standard Description Date of Adoption Effect on Financial Statements or Other Significant Matters ASU 2019-12 Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12") ASU 2019-12 simplifies the accounting for income taxes, eliminates certain exceptions to the general principles in Topic 740 and clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for annual periods beginning after December 15, 2020 (fiscal 2022 for the Company), including interim periods within those fiscal years. April 1, 2021 The Company does not expect the adoption of this guidance will have a material impact on our consolidated financial statements. The Company does not anticipate that the adoption of any other recent accounting pronouncements will have a material impact on the Company's consolidated financial position, results of operations or cash flows. |
ORGANIZATION AND SUMMARY OF S_3
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Reconciliation of numerator and denominator of basic and diluted earnings (loss) per share | A reconciliation of the numerator and denominator of basic and diluted earnings (loss) per share is shown below (in thousands, except per share amounts): Year ended March 31, 2021 2020 2019 Basic earnings (loss) per share: Net loss from continuing operations $ (90,268) $ (125,261) $ (133,947) Earnings from discontinued operations, net of tax — 750 1,162,494 Net earnings (loss) $ (90,268) $ (124,511) $ 1,028,547 Basic weighted-average shares outstanding 66,304 67,760 75,020 Continuing operations $ (1.36) $ (1.85) $ (1.79) Discontinued operations — 0.01 15.50 Basic earnings (loss) per share $ (1.36) $ (1.84) $ 13.71 Diluted earnings (loss) per share: Basic weighted-average shares outstanding 66,304 67,760 75,020 Dilutive effect of common stock options and restricted stock as computed under the treasury stock method (1) — — — Diluted weighted-average shares outstanding 66,304 67,760 75,020 Continuing operations $ (1.36) $ (1.85) $ (1.79) Discontinued operations — 0.01 15.50 Diluted earnings (loss) per share $ (1.36) $ (1.84) $ 13.71 |
Schedule of anti-dilutive options, warrants and restricted stock units excluded from computation of earnings (loss) per share | Restricted stock units that were outstanding during the periods presented but were not included in the computation of diluted earnings per share because the effect was anti-dilutive are shown below (in thousands, except per share amounts): Year ended March 31, 2021 2020 2019 Number of shares underlying restricted stock units 90 1,368 227 |
Schedule of activity of the allowance for credit losses, returns and credits | A summary of the activity of the allowance for credit losses, returns and credits was (dollars in thousands): For the twelve months ended: Balance at beginning of period Additions charged to costs and expenses Other changes Bad debts written off, net of amounts recovered Balance at end of period March 31, 2019 $ 3,182 3,069 (92) (3,152) $ 3,007 March 31, 2020 $ 3,007 7,133 86 (2,651) $ 7,575 March 31, 2021 $ 7,575 2,915 108 (2,981) $ 7,617 |
Schedule of weighted average useful lives of intangible assets | The weighted average useful lives of our intangible assets were as follows: Weighted Average Useful Life (years) Developed technology 3.9 Customer relationships 5.3 Publisher and Data Supply relationships 5.2 |
Schedule of Accounting Pronouncements Adopted During the Current Year and Recent accounting pronouncements not yet adopted | Accounting Pronouncements Adopted During the Current Year - Standard Description Date of Adoption Effect on Financial Statements or Other Significant Matters Accounting Standards Update ("ASU") ASU 2018-15 Intangibles-Goodwill and Other-Internal Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract ("ASU 2018-15") ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a cloud computing arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software and hosting arrangements that include an internal use software license. Previously, all implementation costs for a hosting arrangement that was a service contract were expensed when incurred. April 1, 2020 The effect of prospectively adopting ASU 2018-15 on our consolidated financial statements and related disclosures was not material. ASU 2018-13 Fair Value Measurement (Topic 820): Disclosure Framework ("ASU 2018-13") ASU 2018-13 eliminates, modifies and adds disclosure requirements for fair value measurements. April 1, 2020 The effect of adopting ASU 2018-13 on our consolidated financial statements and related disclosures was not material. ASU 2016-13 , Financial Instruments-Credit Losses (Topic 326) ("ASU 2016-13") ASU 2016-13 introduces new methodology for accounting for credit losses on financial instruments. The guidance establishes a new forward looking "expected loss model" that requires entities to estimate expected credit losses on accounts receivable and other financial instruments by using all practical and relevant information. April 1, 2020 The effect of adopting ASU 2016-13 on our consolidated financial statements and related disclosures was not material. Recent accounting pronouncements not yet adopted - Standard Description Date of Adoption Effect on Financial Statements or Other Significant Matters ASU 2019-12 Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12") ASU 2019-12 simplifies the accounting for income taxes, eliminates certain exceptions to the general principles in Topic 740 and clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for annual periods beginning after December 15, 2020 (fiscal 2022 for the Company), including interim periods within those fiscal years. April 1, 2021 The Company does not expect the adoption of this guidance will have a material impact on our consolidated financial statements. |
REVENUE FROM CONTRACTS WITH C_2
REVENUE FROM CONTRACTS WITH CUSTOMERS: (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of Disaggregation of Revenue | In the following table, revenue is disaggregated by primary geographical market and major service offerings (dollars in thousands). Year ended March 31, Primary Geographical Markets 2021 2020 2019 United States $ 415,976 $ 354,437 $ 262,135 Europe 22,515 20,789 18,566 Asia-Pacific ("APAC") 4,535 5,346 4,919 $ 443,026 $ 380,572 $ 285,620 Major Offerings/Services Subscription $ 356,597 $ 305,679 $ 236,718 Marketplace and Other 86,429 74,893 48,902 $ 443,026 $ 380,572 $ 285,620 |
LEASES_ (Tables)
LEASES: (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Leases [Abstract] | |
Schedule of right-of-use asset and lease liability balances | Right-of-use asset and lease liability balances consist of the following (dollars in millions): March 31, 2021 March 31, 2020 Right-of-use assets included in other assets, net $ 11.7 $ 17.8 Short-term lease liabilities included in other accrued expenses $ 9.6 $ 9.6 Long-term lease liabilities included in other liabilities $ 4.2 $ 11.4 |
Schedule of future minimum payments under all operating leases | Future minimum payments under all operating leases (including operating leases with a duration of one year or less) as of March 31, 2021 are as follows (dollars in thousands): Amount Fiscal 2022 $ 9,960 Fiscal 2023 3,304 Fiscal 2024 1,198 Fiscal 2025 69 Total undiscounted lease commitments 14,531 Less: Interest and short-term leases 766 Total discounted operating lease liabilities $ 13,765 |
RESTRUCTURING, IMPAIRMENT AND_2
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Restructuring and Related Activities [Abstract] | |
Summary of restructuring activity | for the fiscal years ended March 31, 2021, 2020, and 2019. The restructuring charges and adjustments are included in gains, losses and other items, net in the consolidated statement of operations. The reserve balances are included in other accrued expenses and other liabilities in the consolidated balance sheets (dollars in thousands). Associate-related Lease Total Balances at 3/31/2018 542 5,288 5,830 Restructuring charges and adjustments 6,163 1,582 7,745 Payments (2,110) (1,182) (3,292) Balances at 3/31/2019 $ 4,595 $ 5,688 $ 10,283 Restructuring charges and adjustments 2,291 1,139 3,430 Payments (6,436) (584) (7,020) Balances at March 31, 2020 $ 450 $ 6,243 $ 6,693 Restructuring charges and adjustments 1,663 62 1,725 Payments (1,288) (2,387) (3,675) Balances at March 31, 2021 $ 825 $ 3,918 $ 4,743 |
Schedule of gains, losses and other items | The following table summarizes the activity included in gains, losses and other items, net in the consolidated statements of operations for each of the periods presented (dollars in thousands): Year ended March 31, 2021 2020 2019 Restructuring plan charges and adjustments $ 1,725 $ 3,430 $ 7,745 Early contract terminations — 908 12,188 Other 990 663 — $ 2,715 $ 5,001 $ 19,933 |
ACQUISITIONS_ (Tables)
ACQUISITIONS: (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Business Combinations [Abstract] | |
Schedule of Business Acquisitions, by Acquisition | The acquisition date fair value of the consideration for DataFleets was approximately $67.2 million, which consisted of the following (dollars in thousands): Cash, net of $2.1 million cash acquired $ 58,264 Restricted cash held in escrow 8,900 Total fair value of consideration transferred $ 67,164 Cash, net of $0.4 million cash acquired $ 100,886 Restricted cash held in escrow 14,815 Fair value of replacement stock options considered a component of purchase price 2,300 Total fair value of consideration transferred $ 118,001 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the date of acquisition (dollars in thousands): February 17, 2021 Assets acquired: Cash $ 2,099 Goodwill 56,436 Intangible assets 11,400 Other current and noncurrent assets 1,119 Total assets acquired 71,054 Deferred income taxes (1,716) Accounts payable and accrued expenses (75) Net assets acquired 69,263 Less: Cash acquired (2,099) Net purchase price allocated 67,164 Less: Restricted cash held in escrow (8,900) Net cash paid in acquisition $ 58,264 The following table summarizes the fair value of assets acquired and liabilities assumed as of the date of acquisition (dollars in thousands): July 16, 2020 Assets acquired: Cash $ 184 Trade accounts receivable 156 Goodwill 2,011 Intangible assets 1,100 Other current and noncurrent assets 43 Total assets acquired 3,494 Deferred income taxes (288) Accounts payable and accrued expenses (89) Net assets acquired 3,117 Less: Cash acquired (184) Net cash paid $ 2,933 The following table summarizes the fair values of assets acquired and liabilities assumed as of the date of acquisition (dollars in thousands): July 2, 2019 Assets acquired: Cash $ 438 Trade accounts receivable 957 Goodwill 90,619 Intangible assets 34,000 Other current and noncurrent assets 1,186 Total assets acquired 127,200 Deferred income taxes (6,034) Accounts payable and accrued expenses (2,727) Net assets acquired 118,439 Less: Cash acquired (438) Net purchase price allocated 118,001 Less: Restricted cash held in escrow (14,815) Fair value of replacement stock options considered a component of purchase price (2,300) Net cash paid in acquisition $ 100,886 The following table presents the purchase price allocation related to assets acquired and liabilities assumed (dollars in thousands): April 2, 2019 Assets acquired: Cash $ 35 Trade accounts receivable 63 Goodwill 3,110 Intangible assets 1,700 Other current and noncurrent assets 126 Total assets acquired 5,034 Deferred income taxes (194) Accounts payable and accrued expenses (326) Net assets acquired 4,514 Less: Cash acquired (35) Net cash paid $ 4,479 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | The following table presents the components of intangible assets acquired and their estimated useful lives as of the acquisition date (dollars in thousands): Useful life Fair value (in years) Developed technology $ 11,000 4 Customer relationships/trade names 400 2 Total intangible assets $ 11,400 Useful life Fair value (in years) Developed technology $ 11,000 4 Data supply relationships 16,000 4 Customer relationships 6,000 4 Trademarks 1,000 2 Total intangible assets $ 34,000 |
Schedule of Business Acquisition, Pro Forma Information | The unaudited pro forma financial information was as follows (dollars in thousands, except per share data): Year ended March 31, 2020 2019 Revenues $ 381,501 $ 287,467 Net earnings (loss) $ (129,211) $ 1,010,241 Basic earnings (loss) per share $ (1.91) $ 13.47 Diluted earnings (loss) per share $ (1.91) $ 13.47 |
DISCONTINUED OPERATIONS_ (Table
DISCONTINUED OPERATIONS: (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Disposal Groups, Including Discontinued Operations | The following is a reconciliation of the major classes of line items constituting earnings from discontinued operations, net of tax (dollars in thousands): Year ended March 31, 2020 2019 Revenues $ — $ 332,185 Cost of revenue — 213,512 Gross profit — 118,673 Operating expenses: Research and development — 21,621 Sales and marketing — 60,743 General and administrative — 71,500 Gains, losses and other items, net (957) (1,673,636) Total operating expenses (957) (1,519,772) Income from discontinued operations 957 1,638,445 Interest expense — (5,702) Other, net — 97 Earnings from discontinued operations before income taxes 957 1,632,840 Income taxes 207 470,346 Earnings from discontinued operations, net of tax $ 750 $ 1,162,494 |
OTHER CURRENT AND NONCURRENT _2
OTHER CURRENT AND NONCURRENT ASSETS: (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Schedule of components of other current assets | Other current assets consist of the following (dollars in thousands): March 31, 2021 March 31, 2020 Prepaid expenses and other $ 30,791 $ 13,385 Receivable for cash settlement of withheld income tax withholdings on equity award 9,923 7,658 Certificates of deposit 7,500 — Assets of non-qualified retirement plan 15,838 11,623 Other current assets $ 64,052 $ 32,666 |
Schedule of components of other noncurrent assets | Other noncurrent assets consist of the following (dollars in thousands): March 31, 2021 March 31, 2020 Long-term prepaid data revenue share $ 8,127 $ — Right-of-use asset (see Note 3) 11,731 17,830 Deferred tax asset 663 852 Deposits 2,745 2,562 Strategic investments (see Note 18) 5,700 3,500 Other miscellaneous noncurrent assets 1,888 2,421 Other assets, net $ 30,854 $ 27,165 |
PROPERTY AND EQUIPMENT_ (Tables
PROPERTY AND EQUIPMENT: (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property, Plant and Equipment | Property and equipment is summarized as follows (dollars in thousands): March 31, 2021 March 31, 2020 Leasehold improvements $ 26,024 $ 25,614 Data processing equipment 9,053 9,499 Office furniture and other equipment 9,207 9,673 44,284 44,786 Less accumulated depreciation and amortization 32,327 25,465 $ 11,957 $ 19,321 |
GOODWILL_ (Tables)
GOODWILL: (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of goodwill by operating segment and activity and by component included in each segment | Changes in goodwill for the years ended March 31, 2021 and 2020 was as follows (dollars in thousands): Total Balance at March 31, 2019 $ 204,656 Acquisition of Faktor 3,110 Acquisition of DPM 90,619 Change in foreign currency translation adjustment (589) Balance at March 31, 2020 $ 297,796 Acquisition of Acuity Data 2,011 Acquisition of DataFleets 56,436 Change in foreign currency translation adjustment 1,203 Balance at March 31, 2021 $ 357,446 Goodwill by geography as of March 31, 2021 was: Total U.S. $ 353,914 APAC 3,532 Balance at March 31, 2021 $ 357,446 |
INTANGIBLE ASSETS_ (Tables)
INTANGIBLE ASSETS: (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of amortization activity of intangible assets | The following table shows the amortization activity of intangible assets (dollars in thousands): March 31, 2021 March 31, 2020 Developed technology, gross $ 78,547 $ 66,451 Accumulated amortization (60,424) (54,713) Net developed technology $ 18,123 $ 11,738 Customer relationship/Trade name, gross $ 43,506 $ 42,993 Accumulated amortization (37,510) (33,109) Net customer/trade name $ 5,996 $ 9,884 Publisher/Data supply relationships, gross $ 39,800 $ 39,800 Accumulated amortization (24,189) (16,222) Net publisher relationship $ 15,611 $ 23,578 Total intangible assets, gross $ 161,853 $ 149,244 Total accumulated amortization (122,123) (104,044) Total intangible assets, net $ 39,730 $ 45,200 |
Schedule of estimated future amortization expenses related to purchases and other intangible assets | The following table presents the estimated future amortization expenses related to purchased intangible assets (dollars in thousands): Fiscal Year: 2022 17,401 2023 14,956 2024 4,945 2025 2,428 $ 39,730 |
OTHER ACCRUED EXPENSES_ (Tables
OTHER ACCRUED EXPENSES: (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Other Accrued Expenses [Abstract]. | |
Schedule of other accrued expenses | Other accrued expenses consist of the following (dollars in thousands): March 31, 2021 March 31, 2020 Liabilities of non-qualified retirement plan $ 15,838 $ 11,623 Accrued Data Marketplace expenses 15,818 12,023 Short-term lease liabilities (see Note 3) 9,608 9,641 PDP performance plan liability (see Note 14) — 16,318 DPM consideration holdback (see Note 14) 6,092 6,185 Acuity performance earnout liability (see Note 14) 2,208 — DataFleets consideration holdback (see Note 14) 755 — Other miscellaneous accrued expenses 8,034 13,201 Other accrued expenses $ 58,353 $ 68,991 |
OTHER LIABILITIES_ (Tables)
OTHER LIABILITIES: (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Other Liabilities Disclosure [Abstract] | |
Other Liabilities | Other liabilities consist of the following (dollars in thousands): March 31, 2021 March 31, 2020 Uncertain tax positions 26,156 25,007 Long-term leases liabilities (see Note 3) 4,158 11,449 Restructuring accruals 4,510 6,839 Other 7,565 9,700 Other liabilities $ 42,389 $ 52,995 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contractual Obligation, Fiscal Year Maturity | The table does not include the future payment of liabilities related to uncertain tax positions of $26.2 million as the Company is not able to predict the periods in which the payments will be made (dollars in thousands): For the years ending March 31, 2022 2023 2024 2025 2026 Thereafter Total Purchase commitments $ 59,732 $ 50,754 $ 45,726 $ 44,248 $ 33,150 $ — $ 233,610 |
STOCKHOLDERS' EQUITY_ (Tables)
STOCKHOLDERS' EQUITY: (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Equity [Abstract] | |
Schedule of stock-based compensation activity, by award type | The Company's stock-based compensation activity for the twelve months ended March 31, 2021, 2020, and 2019, by award type, was (dollars in thousands): For the twelve months ended March 31, 2021 2020 2019 Stock options $ 2,308 $ 3,675 $ 3,291 Restricted stock units 78,164 55,543 67,015 Arbor acquisition consideration holdback — 2,553 15,316 DPM acquisition consideration holdback 8,030 6,185 — PDP assumed performance plan 18,388 20,332 15,758 Acuity performance plan 2,208 — — DataFleets acquisition consideration holdback 755 — — Other stock-based compensation 1,854 1,159 1,342 Total non-cash stock-based compensation included in the consolidated statements of operations 111,707 89,447 102,722 Less expense related to liability-based equity awards (27,311) (24,228) (14,239) Total non-cash stock-based compensation included in the consolidated statements of equity $ 84,396 $ 65,219 $ 151,344 |
Schedule of effect of stock-based compensation expense on income, by financial statement line item | The effect of stock-based compensation expense on income, by financial statement line item, was (dollars in thousands): For the twelve months ended March 31, 2021 2020 2019 Cost of revenue $ 5,300 $ 3,769 $ 4,708 Research and development 38,960 23,260 28,225 Sales and marketing 40,401 38,026 43,971 General and administrative 27,046 24,392 25,818 Total non-cash stock-based compensation included in the consolidated statements of operations $ 111,707 $ 89,447 $ 102,722 |
Schedule of share based compensation arrangement by share based payment award, future expense | The following table provides the expected future expense for all of the Company's outstanding equity awards at March 31, 2021, by award type (dollars in thousands). For the years ending March 31, 2022 2023 2024 2025 Total Stock options $ 1,955 $ 1,212 $ 720 $ 158 $ 4,045 Restricted stock units 44,902 46,799 27,540 8,218 127,459 DPM acquisition consideration holdback 8,123 2,031 — — 10,154 PDP assumed performance plan 9,194 — — — 9,194 Acuity performance plan 1,912 814 165 — 2,891 DataFleets acquisition consideration holdback 6,043 6,043 5,287 — 17,373 Other stock-based compensation 354 — — — 354 $ 72,483 $ 56,899 $ 33,712 $ 8,376 $ 171,470 |
Schedule of option activity | Stock option activity for the twelve months ended March 31, 2021 was: Weighted-average Weighted-average remaining Aggregate Number of exercise price contractual term Intrinsic value shares per share (in years) (in thousands) Outstanding at March 31, 2020 1,350,658 $ 14.43 DataFleets replacement stock options issued 42,154 $ 0.70 Exercised (538,798) $ 12.16 $ 23,227 Forfeited or canceled (9,969) $ 4.14 Outstanding at March 31, 2021 844,045 $ 15.31 3.4 $ 30,863 Exercisable at March 31, 2021 776,744 $ 16.53 3.0 $ 27,454 |
Summary of stock options outstanding and exercisable | A summary of stock options outstanding and exercisable as of March 31, 2021 was: Options outstanding Options exercisable Range of Weighted-average Weighted-average Weighted-average exercise price Options remaining exercise price Options exercise price per share outstanding contractual life per share exercisable per share $ 0.61 — $ 9.99 152,105 5.7 years $ 1.30 84,804 $ 1.36 $ 10.00 — $ 19.99 346,807 2.7 years $ 15.50 346,807 $ 15.50 $ 20.00 — $ 24.99 345,133 3.1 years $ 21.31 345,133 $ 21.31 844,045 3.4 years $ 15.31 776,744 $ 16.53 |
Schedule Of Share Conversion | Share activity related to these conversions was: Continuing Operations Discontinued Operations Total Continuing and Discontinued Operations TSR-based performance restricted stock units converted to time-based restricted stock units, by fiscal year granted: Original Performance Maturity Date: Fiscal 2017 PSU 3/31/2019 (168,378) (46,218) (214,596) Fiscal 2018 PSU 3/31/2020 (148,963) (36,815) (185,778) Fiscal 2019 PSU 3/31/2021 (186,539) (30,188) (216,727) Totals (503,880) (113,221) (617,101) Time-based restricted stock units converted from TSR-based performance restricted stock units RSU Cliff Vest Date (Continuing Ops Only): Fiscal 2017 PSU 3/31/2019 336,756 92,436 429,192 Fiscal 2018 PSU 3/31/2020 297,926 73,630 371,556 Fiscal 2019 PSU 3/31/2021 373,078 60,376 433,454 Totals 1,007,760 226,442 1,234,202 |
Schedule Of Recognized Incremental and Accelerated Compensation Costs | The impact on compensation costs was (dollars in thousands): Continuing Operations Discontinued Operations Total Continuing and Discontinued Operations Incremental compensation costs $ 7,179 $ 1,599 $ 8,778 Accelerated compensation costs of original grant date fair value related to immediate vesting of converted PSUs of AMS associates $ — $ 1,607 $ 1,607 |
Schedule of time-vesting restricted stock unit activity | RSU activity for the twelve months ended March 31, 2021 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2020 3,351,638 $ 40.68 2.51 Granted 2,228,445 $ 44.77 Vested (1,587,963) $ 37.23 Units vested under the Company's March 2021 acceleration plan (700,936) $ 40.37 Forfeited or canceled (598,941) $ 41.67 Outstanding at March 31, 2021 2,692,243 $ 45.96 2.76 |
Schedule of non-vested performance-based restricted stock units activity | PSU activity for the twelve months ended March 31, 2021 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2020 545,446 $ 51.01 2.24 Granted 246,524 $ 43.40 Additional earned performance shares 38,063 $ 55.48 Vested (122,573) $ 48.86 Units vested under the Company's March 2021 acceleration plan (39,344) $ 49.14 Forfeited or canceled (36,247) $ 35.42 Outstanding at March 31, 2021 631,869 $ 49.74 1.54 |
INCOME TAX_ (Tables)
INCOME TAX: (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Schedule of Total Income Tax Expense (Benefit) | Total income tax expense (benefit) was allocated as follows (dollars in thousands): Year ended March 31, 2021 2020 2019 Continuing operations $ (30,532) $ (40,276) $ (45,409) Discontinued operations — 207 470,346 $ (30,532) $ (40,069) $ 424,937 |
Schedule of Components of Income Tax Expense (Benefit) | Income tax expense (benefit) attributable to loss from continuing operations consists of (dollars in thousands): Year ended March 31, 2021 2020 2019 Current: U.S. Federal $ (28,060) $ (33,715) $ (39,534) Non-U.S. 17 146 323 State (1,071) 171 (16,092) (29,114) (33,398) (55,303) Deferred: U.S. Federal (1,205) (5,103) 1,245 Non-U.S. (44) (1,006) 149 State (169) (769) 8,500 (1,418) (6,878) 9,894 Total $ (30,532) $ (40,276) $ (45,409) |
Schedule of Income before Income Tax, Domestic and Foreign | Loss before income tax attributable to U.S. and non-U.S. continuing operations consists of (dollars in thousands): Year ended March 31, 2021 2020 2019 U.S. $ (122,257) $ (160,457) $ (174,867) Non-U.S. 1,457 (5,080) (4,489) Total $ (120,800) $ (165,537) $ (179,356) |
Schedule of Effective Income Tax Rate Reconciliation | Below is a reconciliation of expected income tax benefit computed by applying the U.S. federal statutory rate of 21.0% for fiscal years 2021, 2020 and 2019 to loss before income taxes to actual income tax benefit from continuing operations (dollars in thousands): Year ended March 31, 2021 2020 2019 Computed expected income tax benefit $ (25,368) $ (34,763) $ (37,665) Increase (reduction) in income taxes resulting from: State income taxes, net of federal benefit (979) (473) (5,998) Research and other tax credits (4,635) (1,517) (3,141) Nondeductible expenses 1,104 838 426 Stock-based compensation (2,024) 5,025 (5,350) Non-U.S. subsidiaries taxed at other rates 194 230 1,343 Adjustment to valuation allowances 2,230 (2,245) 5,204 Net operating loss carryback taxed at other rates — (7,360) — Other, net (1,054) (11) (228) $ (30,532) $ (40,276) $ (45,409) |
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities at March 31, 2021 and 2020 are presented below (dollars in thousands). 2021 2020 Deferred tax assets: Accrued expenses $ 3,501 $ 3,978 Deferred revenue 11 16 Lease liabilities 3,324 4,939 Net operating loss carryforwards 35,945 33,516 Stock-based compensation 2,991 8,076 Nonqualified deferred compensation 2,802 2,815 Tax credit carryforwards 7,818 1,240 Other 2,856 2,778 Total deferred tax assets 59,248 57,358 Less valuation allowance (35,332) (32,971) Net deferred tax assets 23,916 24,387 Deferred tax liabilities: Prepaid expenses (6,734) (2,239) Property and equipment (248) (1,742) Right-of-use assets (3,016) (4,147) Intangible assets (8,409) (9,605) Deferred commissions (5,391) (3,817) Accrued expenses — (2,189) Total deferred tax liabilities (23,798) (23,739) Net deferred tax assets $ 118 $ 648 |
Schedule of Unrecognized Tax Benefits Roll Forward | The following table sets forth changes in the total gross unrecognized tax benefits for the fiscal years ended March 31, 2021, 2020 and 2019 (dollars in thousands): Year ended March 31, 2021 2020 2019 Balance at beginning of period $ 23,400 $ 19,600 $ 15,415 Increases related to prior year tax positions — 2,458 325 Decreases related to prior year tax positions (139) (1,048) (292) Increases related to current year tax positions 1,765 2,433 5,483 Lapse of statute of limitations — (43) (1,331) Balance at end of period $ 25,026 $ 23,400 $ 19,600 |
FOREIGN OPERATIONS_ (Tables)
FOREIGN OPERATIONS: (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Segments, Geographical Areas [Abstract] | |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas | The following table shows financial information by geographic area (dollars in thousands): Year ended March 31, Revenue 2021 2020 2019 United States $ 415,976 $ 354,437 $ 262,135 Foreign Europe 22,515 20,789 18,566 APAC 4,535 5,346 4,919 All Foreign 27,050 26,135 23,485 $ 443,026 $ 380,572 $ 285,620 Long-lived assets excluding financial instruments (dollars in thousands): March 31, 2021 2020 United States $ 456,662 $ 399,456 Foreign Europe 1,084 2,724 APAC 4,860 3,638 All Foreign 5,944 6,362 $ 462,606 $ 405,818 |
FAIR VALUE OF FINANCIAL INSTR_2
FAIR VALUE OF FINANCIAL INSTRUMENTS: (Tables) | 12 Months Ended |
Mar. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Schedule of financial assets and liabilities measured at fair value | The following tables detail the fair value measurements within the fair value hierarchy of the Company's financial assets and liabilities at March 31, 2021 and March 31, 2020 (dollars in thousands): March 31, 2021 Level 1 Level 2 Level 3 Total Other current assets: Assets of non-qualified retirement plan $ 15,838 $ — $ — $ 15,838 Total $ 15,838 $ — $ — $ 15,838 March 31, 2020 Level 1 Level 2 Level 3 Total Other current assets: Assets of non-qualified retirement plan $ 11,623 $ — $ — $ 11,623 Total $ 11,623 $ — $ — $ 11,623 |
ORGANIZATION AND SUMMARY OF S_4
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: - Earnings (Loss) per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Equity, Class of Treasury Stock [Line Items] | |||
Net loss from continuing operations | $ (90,268) | $ (125,261) | $ (133,947) |
Earnings from discontinued operations, net of tax | 0 | 750 | 1,162,494 |
Net earnings (loss) | $ (90,268) | $ (124,511) | $ 1,028,547 |
Basic earnings (loss) per share: | |||
Basic weighted-average shares outstanding (in shares) | 66,304 | 67,760 | 75,020 |
Basic earnings (loss) per share from continuing operations (in dollars per share) | $ (1.36) | $ (1.85) | $ (1.79) |
Basic earnings (loss) per share from discontinued operations (in dollars per share) | 0 | 0.01 | 15.50 |
Basic earnings (loss) per share (in USD per share) | $ (1.36) | $ (1.84) | $ 13.71 |
Diluted earnings (loss) per share: | |||
Basic weighted-average shares outstanding (in shares) | 66,304 | 67,760 | 75,020 |
Dilutive effect of common stock options, warrants, and restricted stock as computed under the treasury stock method (in shares) | 0 | 0 | 0 |
Diluted weighted-average shares outstanding (in shares) | 66,304 | 67,760 | 75,020 |
Diluted earnings (loss) per share from continuing operations (in dollars per share) | $ (1.36) | $ (1.85) | $ (1.79) |
Diluted earnings (loss) per share from discontinued operations (in dollars per share) | 0 | 0.01 | 15.50 |
Diluted earnings (loss) per share (in USD per share) | $ (1.36) | $ (1.84) | $ 13.71 |
Stockholders' Equity Attributable to Parent [Abstract] | |||
Antidilutive securities excluded from computation of earnings per share, amount | 90 | 1,368 | 227 |
Continuing operations | |||
Stockholders' Equity Attributable to Parent [Abstract] | |||
Antidilutive securities excluded from computation of earnings per share, amount | 2,700 | 2,400 | 3,400 |
ORGANIZATION AND SUMMARY OF S_5
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: - Summary of the activity of the allowance for doubtful accounts, returns and credits (Details) - SEC Schedule, 12-09, Allowance, Credit Loss - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at beginning of period | $ 7,575 | $ 3,007 | $ 3,182 |
Additions charged to costs and expenses | 2,915 | 7,133 | 3,069 |
Other changes | 108 | 86 | (92) |
Bad debts written off, net of amounts recovered | (2,981) | (2,651) | (3,152) |
Balance at end of period | $ 7,617 | $ 7,575 | $ 3,007 |
ORGANIZATION AND SUMMARY OF S_6
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: - Finite-Lived Intangible Assets (Details) | 12 Months Ended |
Mar. 31, 2021 | |
Minimum | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Amortization period | 2 years |
Maximum | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Amortization period | 6 years |
Developed technology | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Weighted Average Useful Life (years) | 3 years 10 months 24 days |
Customer relationships | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Weighted Average Useful Life (years) | 5 years 3 months 18 days |
Publisher and Data Supply relationships | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Weighted Average Useful Life (years) | 5 years 2 months 12 days |
ORGANIZATION AND SUMMARY OF S_7
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: - Narrative (Details) $ in Thousands | 12 Months Ended | |||||
Mar. 31, 2021USD ($)segmentreportingUnit | Mar. 31, 2020USD ($) | Mar. 31, 2019USD ($) | Mar. 31, 2022USD ($) | Apr. 01, 2021USD ($) | Mar. 31, 2018USD ($) | |
Property, Plant and Equipment [Line Items] | ||||||
Number of operating segments | segment | 1 | |||||
Unbilled amounts included in accounts receivable | $ 8,000 | $ 5,000 | ||||
Capitalized contract cost amortization period | 4 years | |||||
Recognition of capitalized contract cost | $ 6,600 | 5,300 | ||||
Right-of-use asset (see Note 3) | 11,731 | 17,830 | ||||
Short-term lease liabilities (see Note 3) | 9,608 | 9,641 | ||||
Long-term lease liabilities | $ 4,158 | 11,449 | ||||
Number of reporting units | reportingUnit | 3 | |||||
Advertising expense | $ 7,000 | $ 9,800 | $ 8,200 | |||
Scenario, Forecast | Tax Year 2020 | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Income tax examination, refund adjustment from settlement with taxing authority | $ 33,000 | |||||
Scenario, Forecast | Tax Year 2021 | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Income tax examination, refund adjustment from settlement with taxing authority | $ 28,000 | $ 28,000 | ||||
Revenue Benchmark | Customer Concentration Risk | Ten Largest Customers | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Concentration risk, percentage | 33.00% | |||||
Revenue Benchmark | Customer Concentration Risk | Interpublic Group of Companies | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Concentration risk, percentage | 11.00% | |||||
Cumulative Effect, Period of Adoption, Adjustment | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Right-of-use asset (see Note 3) | $ 22,900 | |||||
Short-term lease liabilities (see Note 3) | 8,400 | |||||
Long-term lease liabilities | 17,900 | |||||
Deferred rent | $ 3,400 | |||||
Minimum | Incentive Stock Option | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Exercise price as a percentage of the per-share market value of the Company's shares at the date of grant | 100.00% | |||||
Minimum | Leasehold improvements | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Estimated useful life | 5 years | |||||
Minimum | Data processing equipment | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Estimated useful life | 2 years | |||||
Minimum | Office furniture and other equipment | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Estimated useful life | 3 years | |||||
Maximum | Incentive Stock Option | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Duration of stock options granted | 10 years | |||||
Maximum | Nonqualified Options | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Exercise price as a percentage of the per-share market value of the Company's shares at the date of grant | 100.00% | |||||
Duration of stock options granted | 10 years | |||||
Maximum | Leasehold improvements | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Estimated useful life | 7 years | |||||
Maximum | Data processing equipment | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Estimated useful life | 5 years | |||||
Maximum | Office furniture and other equipment | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Estimated useful life | 7 years |
REVENUE FROM CONTRACTS WITH C_3
REVENUE FROM CONTRACTS WITH CUSTOMERS: Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Disaggregation of Revenue [Line Items] | |||
Revenues | $ 443,026 | $ 380,572 | $ 285,620 |
Subscription | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 356,597 | 305,679 | 236,718 |
Marketplace and Other | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 86,429 | 74,893 | 48,902 |
United States | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 415,976 | 354,437 | 262,135 |
Europe | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | 22,515 | 20,789 | 18,566 |
Asia-Pacific ("APAC") | |||
Disaggregation of Revenue [Line Items] | |||
Revenues | $ 4,535 | $ 5,346 | $ 4,919 |
REVENUE FROM CONTRACTS WITH C_4
REVENUE FROM CONTRACTS WITH CUSTOMERS: Transaction Price Allocated to the Remaining Performance Obligations (Details) $ in Millions | Mar. 31, 2021USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation | $ 371 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation | $ 255.8 |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 12 months |
LEASES_ Narrative (Details)
LEASES: Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Operating lease costs | $ 11,600 | $ 10,100 | |
Operating leases, rent expense prior to the adoption of Topic 842 lease guidance | $ 12,800 | ||
Fiscal 2022 | 9,960 | ||
Fiscal 2023 | 3,304 | ||
Fiscal 2024 | 1,198 | ||
Fiscal 2025 | 69 | ||
Leased office facilities | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Fiscal 2022 | 2,611 | ||
Fiscal 2023 | 2,663 | ||
Fiscal 2024 | 2,698 | ||
Fiscal 2025 | 2,698 | ||
Fiscal 2026 | $ 1,799 |
LEASES_ Lease Cost (Details)
LEASES: Lease Cost (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Mar. 31, 2020 |
Leases [Abstract] | ||
Right-of-use asset (see Note 3) | $ 11,731 | $ 17,830 |
Operating lease, right-of-use asset, statement of financial position [Extensible List] | Other assets, net | Other assets, net |
Short-term lease liabilities (see Note 3) | $ 9,608 | $ 9,641 |
Operating lease, liability, current, statement of financial position [Extensible List] | us-gaap:OtherAccruedLiabilitiesCurrent | us-gaap:OtherAccruedLiabilitiesCurrent |
Long-term lease liabilities | $ 4,158 | $ 11,449 |
Operating lease, liability, noncurrent, statement of financial position [Extensible List] | Other liabilities | Other liabilities |
LEASES_ Operating Lease, Liabil
LEASES: Operating Lease, Liability Maturity (Details) $ in Thousands | Mar. 31, 2021USD ($) |
Leases [Abstract] | |
Fiscal 2022 | $ 9,960 |
Fiscal 2023 | 3,304 |
Fiscal 2024 | 1,198 |
Fiscal 2025 | 69 |
Total undiscounted lease commitments | 14,531 |
Less: Interest and short-term leases | 766 |
Total discounted operating lease liabilities | $ 13,765 |
RESTRUCTURING, IMPAIRMENT AND_3
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: Summary of restructuring activity (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Restructuring Reserve [Roll Forward] | |||
Restructuring charges and adjustments | $ 1,725 | $ 3,430 | $ 7,745 |
Associate-related reserves | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring Reserve, at the end of the period | 600 | ||
Continuing operations | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring Reserve, at the beginning of the period | 6,693 | 10,283 | 5,830 |
Restructuring charges and adjustments | 1,725 | 3,430 | 7,745 |
Payments | (3,675) | (7,020) | (3,292) |
Restructuring Reserve, at the end of the period | 4,743 | 6,693 | 10,283 |
Continuing operations | Associate-related reserves | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring Reserve, at the beginning of the period | 450 | 4,595 | 542 |
Restructuring charges and adjustments | 1,663 | 2,291 | 6,163 |
Payments | (1,288) | (6,436) | (2,110) |
Restructuring Reserve, at the end of the period | 825 | 450 | 4,595 |
Continuing operations | Lease accruals | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring Reserve, at the beginning of the period | 6,243 | 5,688 | 5,288 |
Restructuring charges and adjustments | 62 | 1,139 | 1,582 |
Payments | (2,387) | (584) | (1,182) |
Restructuring Reserve, at the end of the period | $ 3,918 | $ 6,243 | $ 5,688 |
RESTRUCTURING, IMPAIRMENT AND_4
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | 48 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2021 | |
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges and adjustments | $ 1,725 | $ 3,430 | $ 7,745 | |
Employee Severance | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring reserve | 600 | $ 600 | ||
Employee Severance | Restructuring Activity 2020 | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges and adjustments | 2,300 | |||
Facility Closing | Restructuring Activity 2019 | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges and adjustments | 800 | |||
Facility Closing | Restructuring Activity 2017 | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges and adjustments | (900) | 1,100 | 900 | 7,300 |
Restructuring reserve | 3,900 | 3,900 | ||
Facility Closing | Restructuring Activity 2021 | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges and adjustments | 1,000 | |||
United States and Europe | Employee Severance | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges and adjustments | 1,700 | |||
United States | Employee Severance | Restructuring Activity 2020 | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges and adjustments | 1,700 | |||
Asia-Pacific ("APAC") | Employee Severance | Restructuring Activity 2020 | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges and adjustments | $ 600 | |||
United States And Asia Pacific | Employee Severance | Restructuring Activity 2019 | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges and adjustments | $ 6,100 | |||
Restructuring reserve | $ 200 | $ 200 |
RESTRUCTURING, IMPAIRMENT AND_5
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: Gains, losses and other items (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Restructuring and Related Activities [Abstract] | |||
Restructuring plan charges and adjustments | $ 1,725 | $ 3,430 | $ 7,745 |
Other | 990 | 663 | 0 |
Total gains, losses and other items, net | 2,715 | 5,001 | 19,933 |
Early contract terminations | $ 0 | $ 908 | $ 12,188 |
ACQUISITIONS_ Composition of th
ACQUISITIONS: Composition of the total fair vale of consideration transferred (Details) € in Thousands, $ in Thousands | Feb. 17, 2021USD ($) | Feb. 17, 2021EUR (€) | Jul. 02, 2019USD ($) | Jul. 02, 2019EUR (€) | Mar. 31, 2021USD ($) | Mar. 31, 2020USD ($) | Mar. 31, 2019USD ($) |
Business Acquisition [Line Items] | |||||||
Net cash paid | $ 76,012 | $ 105,365 | $ 0 | ||||
DataFleets, Ltd | |||||||
Business Acquisition [Line Items] | |||||||
Net cash paid | $ 58,264 | € 58,264 | |||||
Cash acquired | 2,099 | ||||||
Restricted cash held in escrow | 8,900 | ||||||
Net purchase price allocated | $ 67,164 | ||||||
Data Plus Math Corporation | |||||||
Business Acquisition [Line Items] | |||||||
Net cash paid | $ 100,886 | € 100,886 | |||||
Cash acquired | 438 | ||||||
Restricted cash held in escrow | 14,815 | ||||||
Fair value of replacement stock options considered a component of purchase price | 2,300 | $ 2,300 | |||||
Net purchase price allocated | $ 118,001 |
ACQUISITIONS_ Narrative (Detail
ACQUISITIONS: Narrative (Details) $ in Thousands | Feb. 17, 2021USD ($)numberOfExerciseMultiple | Jul. 16, 2020USD ($) | Jul. 02, 2019USD ($)numberOfExerciseMultiple | Apr. 02, 2019USD ($) | Mar. 31, 2021USD ($)numberOfExerciseMultiple | Mar. 31, 2020USD ($)numberOfExerciseMultiple |
Consideration Holdback | ||||||
Business Acquisition [Line Items] | ||||||
Contingent consideration arrangements, number of annual increments | numberOfExerciseMultiple | 3 | |||||
DataFleets, Ltd | ||||||
Business Acquisition [Line Items] | ||||||
Net purchase price allocated | $ 67,164 | |||||
Restricted cash held in escrow | 8,900 | |||||
Total fair value of the replacement stock options issued | 2,900 | $ 2,900 | ||||
DataFleets, Ltd | Consideration Holdback | ||||||
Business Acquisition [Line Items] | ||||||
Business combination, contingent consideration arrangements, range of outcomes, value, high | $ 18,100 | |||||
Contingent consideration arrangements, number of annual increments | numberOfExerciseMultiple | 3 | 3 | ||||
Contingent consideration arrangements, earning period | 3 years | |||||
Acuity Data | ||||||
Business Acquisition [Line Items] | ||||||
Business combination, contingent consideration arrangements, range of outcomes, value, high | $ 5,100 | |||||
Payments to acquire businesses, gross | $ 2,900 | |||||
Business combination, contingent consideration arrangements, performance period | 3 years | |||||
Data Plus Math Corporation | ||||||
Business Acquisition [Line Items] | ||||||
Net purchase price allocated | $ 118,001 | |||||
Restricted cash held in escrow | 14,815 | |||||
Total fair value of the replacement stock options issued | 7,400 | $ 7,400 | ||||
Escrow deposit | 14,800 | |||||
Fair value of replacement stock options considered a component of purchase price | 2,300 | 2,300 | ||||
Share-based payment arrangement, amount capitalized | 5,100 | $ 5,100 | ||||
Data Plus Math Corporation | Consideration Holdback | ||||||
Business Acquisition [Line Items] | ||||||
Business combination, contingent consideration arrangements, range of outcomes, value, high | $ 24,700 | |||||
Contingent consideration arrangements, number of annual increments | numberOfExerciseMultiple | 3 | |||||
Contingent consideration arrangements, earning period | 3 years | |||||
Faktor B. V. | ||||||
Business Acquisition [Line Items] | ||||||
Payments to acquire businesses, gross | $ 4,500 |
ACQUISITIONS_ Purchase price al
ACQUISITIONS: Purchase price allocation related to assets acquired and liabilities assumed (Details) € in Thousands, $ in Thousands | Feb. 17, 2021USD ($) | Feb. 17, 2021EUR (€) | Jul. 16, 2020USD ($) | Jul. 02, 2019USD ($) | Jul. 02, 2019EUR (€) | Apr. 02, 2019USD ($) | Mar. 31, 2021USD ($) | Mar. 31, 2020USD ($) | Mar. 31, 2019USD ($) |
Business Acquisition [Line Items] | |||||||||
Goodwill | $ 357,446 | $ 297,796 | $ 204,656 | ||||||
Net cash paid | $ 76,012 | 105,365 | $ 0 | ||||||
DataFleets, Ltd | |||||||||
Business Acquisition [Line Items] | |||||||||
Cash | $ 2,099 | ||||||||
Goodwill | 56,436 | ||||||||
Intangible assets | 11,400 | ||||||||
Other current and noncurrent assets | 1,119 | ||||||||
Total assets acquired | 71,054 | ||||||||
Deferred income taxes | (1,716) | ||||||||
Accounts payable and accrued expenses | (75) | ||||||||
Net assets acquired | 69,263 | ||||||||
Cash acquired | (2,099) | ||||||||
Net purchase price allocated | 67,164 | ||||||||
Restricted cash held in escrow | (8,900) | ||||||||
Net cash paid | $ 58,264 | € 58,264 | |||||||
Acuity Data | |||||||||
Business Acquisition [Line Items] | |||||||||
Cash | $ 184 | ||||||||
Goodwill | 2,011 | ||||||||
Intangible assets | 1,100 | ||||||||
Trade accounts receivable | 156 | ||||||||
Other current and noncurrent assets | 43 | ||||||||
Total assets acquired | 3,494 | ||||||||
Deferred income taxes | (288) | ||||||||
Accounts payable and accrued expenses | (89) | ||||||||
Net assets acquired | 3,117 | ||||||||
Cash acquired | (184) | ||||||||
Net cash paid | $ 2,933 | ||||||||
Data Plus Math Corporation | |||||||||
Business Acquisition [Line Items] | |||||||||
Cash | $ 438 | ||||||||
Goodwill | 90,619 | ||||||||
Intangible assets | 34,000 | ||||||||
Trade accounts receivable | 957 | ||||||||
Other current and noncurrent assets | 1,186 | ||||||||
Total assets acquired | 127,200 | ||||||||
Deferred income taxes | (6,034) | ||||||||
Accounts payable and accrued expenses | (2,727) | ||||||||
Net assets acquired | 118,439 | ||||||||
Cash acquired | (438) | ||||||||
Net purchase price allocated | 118,001 | ||||||||
Restricted cash held in escrow | (14,815) | ||||||||
Fair value of replacement stock options considered a component of purchase price | (2,300) | $ (2,300) | |||||||
Net cash paid | $ 100,886 | € 100,886 | |||||||
Faktor B. V. | |||||||||
Business Acquisition [Line Items] | |||||||||
Cash | $ 35 | ||||||||
Goodwill | 3,110 | ||||||||
Intangible assets | 1,700 | ||||||||
Trade accounts receivable | 63 | ||||||||
Other current and noncurrent assets | 126 | ||||||||
Total assets acquired | 5,034 | ||||||||
Deferred income taxes | (194) | ||||||||
Accounts payable and accrued expenses | (326) | ||||||||
Net assets acquired | 4,514 | ||||||||
Cash acquired | (35) | ||||||||
Net cash paid | $ 4,479 |
ACQUISITIONS_ Components of int
ACQUISITIONS: Components of intangible assets acquired and their estimated useful lives as of the acquisition date (Details) - USD ($) $ in Thousands | Feb. 17, 2021 | Jul. 02, 2019 |
DataFleets, Ltd | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets | $ 11,400 | |
DataFleets, Ltd | Developed technology | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets | $ 11,000 | |
Amortization period | 4 years | |
DataFleets, Ltd | Customer relationships/trade names | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets | $ 400 | |
Amortization period | 2 years | |
Data Plus Math Corporation | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets | $ 34,000 | |
Data Plus Math Corporation | Developed technology | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets | $ 11,000 | |
Amortization period | 4 years | |
Data Plus Math Corporation | Customer relationships | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets | $ 6,000 | |
Amortization period | 4 years | |
Data Plus Math Corporation | Data supply relationships | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets | $ 16,000 | |
Amortization period | 4 years | |
Data Plus Math Corporation | Trademarks | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets | $ 1,000 | |
Amortization period | 2 years |
ACQUISITIONS_ Schedule of Pro F
ACQUISITIONS: Schedule of Pro Forma Financial Information (Details) - Data Plus Math Corporation - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Business Acquisition [Line Items] | ||
Revenues | $ 381,501 | $ 287,467 |
Net earnings (loss) | $ (129,211) | $ 1,010,241 |
Pro forma basic earnings (loss) per share, (in dollars per share) | $ (1.91) | $ 13.47 |
Pro forma diluted earnings (loss) per share, (in dollars per share) | $ (1.91) | $ 13.47 |
DISCONTINUED OPERATIONS_ Narrat
DISCONTINUED OPERATIONS: Narrative (Details) - Acxiom Marketing Solutions - Discontinued Operations $ in Millions | 12 Months Ended |
Mar. 31, 2019USD ($) | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Cash proceeds from disposal of operations | $ 2,300 |
Closing adjustments and transaction costs | 49 |
Repayments of debt | 230.5 |
Discontinued operation, gain (loss) on disposal of discontinued operation, net of tax | $ 1,700 |
DISCONTINUED OPERATIONS_ Reconc
DISCONTINUED OPERATIONS: Reconciliation of the major classes of line items constituting earnings from discontinued operations (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Income taxes | $ 0 | $ 207 | $ 470,346 |
Earnings from discontinued operations, net of tax | $ 0 | 750 | 1,162,494 |
Acxiom Marketing Solutions | Discontinued Operations | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Revenues | 0 | 332,185 | |
Costs of revenues | 0 | 213,512 | |
Gross profit | 0 | 118,673 | |
Research and development | 0 | 21,621 | |
Sales and marketing | 0 | 60,743 | |
General and administrative | 0 | 71,500 | |
Gains, losses and other items, net | (957) | (1,673,636) | |
Total operating expense | (957) | (1,519,772) | |
Income from discontinued operations | 957 | 1,638,445 | |
Interest expense | 0 | (5,702) | |
Other, net | 0 | 97 | |
Earnings from discontinued operations before income taxes | 957 | 1,632,840 | |
Income taxes | 207 | 470,346 | |
Earnings from discontinued operations, net of tax | $ 750 | $ 1,162,494 |
OTHER CURRENT AND NONCURRENT _3
OTHER CURRENT AND NONCURRENT ASSETS: (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Mar. 31, 2020 |
Other current assets | ||
Prepaid expenses and other | $ 30,791 | $ 13,385 |
Receivable for cash settlement of withheld income tax withholdings on equity award | 9,923 | 7,658 |
Certificates of deposit | 7,500 | 0 |
Assets of non-qualified retirement plan | 15,838 | 11,623 |
Other current assets | 64,052 | 32,666 |
Other noncurrent assets | ||
Long-term prepaid data revenue share | 8,127 | 0 |
Right-of-use asset (see Note 3) | 11,731 | 17,830 |
Deferred tax asset | 663 | 852 |
Deposits | 2,745 | 2,562 |
Strategic investments (see Note 18) | 5,700 | 3,500 |
Other miscellaneous noncurrent assets | 1,888 | 2,421 |
Other assets, net | $ 30,854 | $ 27,165 |
PROPERTY AND EQUIPMENT_ (Detail
PROPERTY AND EQUIPMENT: (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Mar. 31, 2020 |
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $ 44,284 | $ 44,786 |
Less accumulated depreciation and amortization | 32,327 | 25,465 |
Property and equipment, net of accumulated depreciation and amortization | 11,957 | 19,321 |
Leasehold improvements | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 26,024 | 25,614 |
Data processing equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 9,053 | 9,499 |
Office furniture and other equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $ 9,207 | $ 9,673 |
PROPERTY AND EQUIPMENT_ Narrati
PROPERTY AND EQUIPMENT: Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation expense | $ 8.9 | $ 15.3 | $ 15.6 |
Accelerated depreciation | $ 3.6 | $ 3.8 |
GOODWILL_ (Details)
GOODWILL: (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Goodwill | ||
Goodwill at the beginning of year | $ 297,796 | $ 204,656 |
Change in foreign currency translation adjustment | 1,203 | (589) |
Goodwill at the end of year | 357,446 | 297,796 |
Faktor B. V. | ||
Goodwill | ||
Goodwill, acquired during period | 3,110 | |
Data Plus Math Corporation | ||
Goodwill | ||
Goodwill, acquired during period | $ 90,619 | |
Acuity Data | ||
Goodwill | ||
Goodwill, acquired during period | 2,011 | |
DataFleets, Ltd | ||
Goodwill | ||
Goodwill, acquired during period | $ 56,436 |
GOODWILL_ Goodwill By Geography
GOODWILL: Goodwill By Geography (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 |
Goodwill information | |||
Goodwill | $ 357,446 | $ 297,796 | $ 204,656 |
United States | |||
Goodwill information | |||
Goodwill | 353,914 | ||
Asia-Pacific ("APAC") | |||
Goodwill information | |||
Goodwill | $ 3,532 |
INTANGIBLE ASSETS_ Narrative (D
INTANGIBLE ASSETS: Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Amortization expense | $ 18 | $ 19 | $ 15.9 |
INTANGIBLE ASSETS_ - Amounts al
INTANGIBLE ASSETS: - Amounts allocated to intangible assets from acquisitions (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Mar. 31, 2020 |
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | $ 161,853 | $ 149,244 |
Accumulated amortization | (122,123) | (104,044) |
Total finite-lived intangible assets, net | 39,730 | 45,200 |
Developed technology, gross (Software) | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | 78,547 | 66,451 |
Accumulated amortization | (60,424) | (54,713) |
Total finite-lived intangible assets, net | 18,123 | 11,738 |
Customer relationships/trade names | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | 43,506 | 42,993 |
Accumulated amortization | (37,510) | (33,109) |
Total finite-lived intangible assets, net | 5,996 | 9,884 |
Publisher/Data Supply Relationships | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | 39,800 | 39,800 |
Accumulated amortization | (24,189) | (16,222) |
Total finite-lived intangible assets, net | $ 15,611 | $ 23,578 |
INTANGIBLE ASSETS_ - Estimated
INTANGIBLE ASSETS: - Estimated future amortization expenses (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Amortization expense | $ 18,000 | $ 19,000 | $ 15,900 |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |||
2022 | 17,401 | ||
2023 | 14,956 | ||
2024 | 4,945 | ||
2024 | 2,428 | ||
Total finite-lived intangible assets, net | $ 39,730 | $ 45,200 |
OTHER ACCRUED EXPENSES_ (Detail
OTHER ACCRUED EXPENSES: (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Mar. 31, 2020 |
Business Acquisition [Line Items] | ||
Liabilities of non-qualified retirement plan | $ 15,838 | $ 11,623 |
Accrued Data Marketplace expenses | 15,818 | 12,023 |
Short-term lease liabilities (see Note 3) | 9,608 | 9,641 |
Other miscellaneous accrued expenses | 8,034 | 13,201 |
Other accrued expenses | 58,353 | 68,991 |
Pacific Data Partners LLC | ||
Business Acquisition [Line Items] | ||
Business combination, contingent consideration, liability | 0 | 16,318 |
Other accrued expenses | 0 | |
Data Plus Math Corporation | ||
Business Acquisition [Line Items] | ||
Business combination, contingent consideration, liability | 6,092 | 6,185 |
Acuity Data | ||
Business Acquisition [Line Items] | ||
Business combination, contingent consideration, liability | 2,208 | 0 |
DataFleets, Ltd | ||
Business Acquisition [Line Items] | ||
Business combination, contingent consideration, liability | $ 755 | $ 0 |
OTHER LIABILITIES_ (Details)
OTHER LIABILITIES: (Details) - USD ($) | Mar. 31, 2021 | Mar. 31, 2020 |
Other Liabilities Disclosure [Abstract] | ||
Uncertain tax positions | $ 26,156,000 | $ 25,007,000 |
Long-term lease liabilities | 4,158,000 | 11,449,000 |
Restructuring accruals | 4,510,000 | 6,839,000 |
Other | 7,565,000 | 9,700,000 |
Other liabilities | $ 42,389,000 | $ 52,995,000 |
COMMITMENTS AND CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES: Narrative (Details) $ in Millions | Mar. 31, 2021USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Deferred tax liability not recognized, amount of unrecognized deferred tax liability, bad debt reserve for tax purposes of qualified lender | $ 26.2 |
COMMITMENTS AND CONTINGENCIES_2
COMMITMENTS AND CONTINGENCIES: (Details) $ in Thousands | Mar. 31, 2021USD ($) |
Purchase Obligation, Fiscal Year Maturity [Abstract] | |
2022 | $ 59,732 |
2023 | 50,754 |
2024 | 45,726 |
2025 | 44,248 |
2026 | 33,150 |
Thereafter | 0 |
Total | $ 233,610 |
STOCKHOLDERS' EQUITY_ - Narrati
STOCKHOLDERS' EQUITY: - Narrative (Details) - USD ($) | Dec. 13, 2018 | Oct. 25, 2018 | Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | Nov. 03, 2020 |
Equity [Abstract] | ||||||
Common stock, shares authorized | 200,000,000 | 200,000,000 | ||||
Common stock, par or stated value (in dollars per share) | $ 0.10 | $ 0.10 | ||||
Preferred stock, shares authorized | 1,000,000 | 1,000,000 | ||||
Preferred stock, par or stated value (in dollars per shares) | $ 1 | $ 1 | ||||
Equity, Class of Treasury Stock [Line Items] | ||||||
Acquisition of treasury stock | $ 42,312,000 | $ 182,190,000 | $ 74,421,000 | |||
Treasury stock, at cost (in shares) | 79,600,000 | 78,100,000 | ||||
Treasury stock, at cost | $ 2,026,518,000 | $ 1,974,286,000 | ||||
Acquisition of treasury stock from tender offer | 0 | 0 | $ 503,393,000 | |||
Accumulated other comprehensive income (loss), foreign currency translation adjustment | $ 7,500,000 | $ 5,700,000 | ||||
Restricted stock units | Share-based Payment Arrangement, Tranche Three | ||||||
Equity, Class of Treasury Stock [Line Items] | ||||||
Forfeited in period (in shares) | 700,000 | 500,000 | ||||
Compensation costs | $ 21,400,000 | $ 19,800,000 | ||||
Incremental compensation cost | 8,400,000 | 14,300,000 | ||||
Accelerated original grant date fair value compensation cost | $ 13,000,000 | 5,500,000 | ||||
Time Vesting Restricted Stock Units | ||||||
Equity, Class of Treasury Stock [Line Items] | ||||||
Incremental compensation cost | $ 27,000,000 | |||||
Conversion percentage | 200.00% | |||||
Common Stock Repurchase Program | ||||||
Equity, Class of Treasury Stock [Line Items] | ||||||
Stock repurchase program, authorized amount | $ 1,000,000,000 | |||||
Acquisition of treasury stock (in shares) | 1,300,000 | 4,400,000 | 2,400,000 | |||
Acquisition of treasury stock | $ 42,300,000 | $ 182,200,000 | $ 74,400,000 | |||
Treasury stock, at cost (in shares) | 28,200,000 | |||||
Treasury stock, at cost | $ 673,600,000 | |||||
Stock repurchase program, remaining amount | $ 326,400,000 | |||||
Dutch Auction Tender Offer | ||||||
Equity, Class of Treasury Stock [Line Items] | ||||||
Stock repurchase program, authorized amount | $ 500,000,000 | |||||
Treasury stock, at cost (in shares) | 11,200,000 | |||||
Repurchase of common stock, percentage | 2.00% | 14.20% | ||||
Treasury stock cost per share (in dollar per share) | $ 44.50 | |||||
Acquisition of treasury stock from tender offer | $ 503,400,000 |
STOCKHOLDERS' EQUITY_ - Stock-b
STOCKHOLDERS' EQUITY: - Stock-based compensation plans, Narrative (Details) - shares shares in Millions | Mar. 31, 2021 | Mar. 31, 2019 | Mar. 31, 2018 |
Stock Option and Equity Compensation Plans | |||
Share-based compensation | |||
Total shares reserved for issuance since inception of the stock option and equity compensation plans (in shares) | 39.1 | ||
Shares which remained available for future grants (in shares) | 5.2 | ||
Amended And Restated 2005 Equity Compensation Plan | |||
Share-based compensation | |||
Total shares reserved for issuance since inception of the stock option and equity compensation plans (in shares) | 42.3 | 34.5 | |
Shares which remained available for future grants (in shares) | 37.9 | 32.9 |
STOCKHOLDERS' EQUITY_ - Stock_2
STOCKHOLDERS' EQUITY: - Stock-based compensation activity, by award type (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Share-based compensation | |||
Total non-cash stock-based compensation | $ 111,707 | $ 89,447 | $ 102,722 |
Total non-cash stock-based compensation included in the consolidated statements of equity | 84,396 | 65,219 | 151,344 |
Stock options | |||
Share-based compensation | |||
Share-based compensation expense | 2,308 | 3,675 | 3,291 |
Restricted stock units | |||
Share-based compensation | |||
Share-based compensation expense | 78,164 | 55,543 | 67,015 |
Arbor Holdback Agreement | Arbor | |||
Share-based compensation | |||
Share-based compensation expense | 0 | 2,553 | 15,316 |
Consideration Holdback | Data Plus Math Corporation | |||
Share-based compensation | |||
Share-based compensation expense | 8,030 | 6,185 | 0 |
Consideration Holdback | DataFleets, Ltd | |||
Share-based compensation | |||
Share-based compensation expense | 755 | 0 | 0 |
Pacific Data Partners, LLC Agreement Plan | Pacific Data Partners LLC | |||
Share-based compensation | |||
Share-based compensation expense | 18,388 | 20,332 | 15,758 |
Acuity Performance Earnout | Acuity Data | |||
Share-based compensation | |||
Share-based compensation expense | 2,208 | 0 | 0 |
Liability-based equity awards | |||
Share-based compensation | |||
Total non-cash stock-based compensation | (27,311) | (24,228) | (14,239) |
Other stock-based compensation | |||
Share-based compensation | |||
Share-based compensation expense | $ 1,854 | $ 1,159 | $ 1,342 |
STOCKHOLDERS' EQUITY_ - Effect
STOCKHOLDERS' EQUITY: - Effect of stock-based compensation expense on income, by financial statement line item (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Share-based compensation | |||
Total non-cash stock-based compensation | $ 111,707 | $ 89,447 | $ 102,722 |
Cost of revenue | |||
Share-based compensation | |||
Total non-cash stock-based compensation | 5,300 | 3,769 | 4,708 |
Research and development | |||
Share-based compensation | |||
Total non-cash stock-based compensation | 38,960 | 23,260 | 28,225 |
Sales and marketing | |||
Share-based compensation | |||
Total non-cash stock-based compensation | 40,401 | 38,026 | 43,971 |
General and administrative | |||
Share-based compensation | |||
Total non-cash stock-based compensation | $ 27,046 | $ 24,392 | $ 25,818 |
STOCKHOLDERS' EQUITY_ - Future
STOCKHOLDERS' EQUITY: - Future expense, by award type (Details) $ in Thousands | Mar. 31, 2021USD ($) |
Share-based compensation | |
Total | $ 171,470 |
2022 | |
Share-based compensation | |
Total | 72,483 |
2023 | |
Share-based compensation | |
Total | 56,899 |
2024 | |
Share-based compensation | |
Total | 33,712 |
2025 | |
Share-based compensation | |
Total | 8,376 |
Stock options | |
Share-based compensation | |
Share-based compensation not yet recognized | 4,045 |
Stock options | 2022 | |
Share-based compensation | |
Share-based compensation not yet recognized | 1,955 |
Stock options | 2023 | |
Share-based compensation | |
Share-based compensation not yet recognized | 1,212 |
Stock options | 2024 | |
Share-based compensation | |
Share-based compensation not yet recognized | 720 |
Stock options | 2025 | |
Share-based compensation | |
Share-based compensation not yet recognized | 158 |
Restricted stock units | |
Share-based compensation | |
Future share-based compensation expense expected | 127,459 |
Restricted stock units | 2022 | |
Share-based compensation | |
Future share-based compensation expense expected | 44,902 |
Restricted stock units | 2023 | |
Share-based compensation | |
Future share-based compensation expense expected | 46,799 |
Restricted stock units | 2024 | |
Share-based compensation | |
Future share-based compensation expense expected | 27,540 |
Restricted stock units | 2025 | |
Share-based compensation | |
Future share-based compensation expense expected | 8,218 |
Consideration Holdback | Data Plus Math Corporation | |
Share-based compensation | |
Future share-based compensation expense expected | 10,154 |
Consideration Holdback | Data Plus Math Corporation | 2022 | |
Share-based compensation | |
Future share-based compensation expense expected | 8,123 |
Consideration Holdback | Data Plus Math Corporation | 2023 | |
Share-based compensation | |
Future share-based compensation expense expected | 2,031 |
Consideration Holdback | Data Plus Math Corporation | 2024 | |
Share-based compensation | |
Future share-based compensation expense expected | 0 |
Consideration Holdback | Data Plus Math Corporation | 2025 | |
Share-based compensation | |
Future share-based compensation expense expected | 0 |
Consideration Holdback | DataFleets, Ltd | |
Share-based compensation | |
Future share-based compensation expense expected | 17,373 |
Consideration Holdback | DataFleets, Ltd | 2022 | |
Share-based compensation | |
Future share-based compensation expense expected | 6,043 |
Consideration Holdback | DataFleets, Ltd | 2023 | |
Share-based compensation | |
Future share-based compensation expense expected | 6,043 |
Consideration Holdback | DataFleets, Ltd | 2024 | |
Share-based compensation | |
Future share-based compensation expense expected | 5,287 |
Consideration Holdback | DataFleets, Ltd | 2025 | |
Share-based compensation | |
Future share-based compensation expense expected | 0 |
Pacific Data Partners, LLC Agreement Plan | Pacific Data Partners LLC | |
Share-based compensation | |
Future share-based compensation expense expected | 9,194 |
Pacific Data Partners, LLC Agreement Plan | Pacific Data Partners LLC | 2022 | |
Share-based compensation | |
Future share-based compensation expense expected | 9,194 |
Pacific Data Partners, LLC Agreement Plan | Pacific Data Partners LLC | 2023 | |
Share-based compensation | |
Future share-based compensation expense expected | 0 |
Pacific Data Partners, LLC Agreement Plan | Pacific Data Partners LLC | 2024 | |
Share-based compensation | |
Future share-based compensation expense expected | 0 |
Pacific Data Partners, LLC Agreement Plan | Pacific Data Partners LLC | 2025 | |
Share-based compensation | |
Future share-based compensation expense expected | 0 |
Acuity Performance Earnout | Acuity Data | |
Share-based compensation | |
Future share-based compensation expense expected | 2,891 |
Acuity Performance Earnout | Acuity Data | 2022 | |
Share-based compensation | |
Future share-based compensation expense expected | 1,912 |
Acuity Performance Earnout | Acuity Data | 2023 | |
Share-based compensation | |
Future share-based compensation expense expected | 814 |
Acuity Performance Earnout | Acuity Data | 2024 | |
Share-based compensation | |
Future share-based compensation expense expected | 165 |
Acuity Performance Earnout | Acuity Data | 2025 | |
Share-based compensation | |
Future share-based compensation expense expected | 0 |
Other stock-based compensation | |
Share-based compensation | |
Future share-based compensation expense expected | 354 |
Other stock-based compensation | 2022 | |
Share-based compensation | |
Future share-based compensation expense expected | 354 |
Other stock-based compensation | 2023 | |
Share-based compensation | |
Future share-based compensation expense expected | 0 |
Other stock-based compensation | 2024 | |
Share-based compensation | |
Future share-based compensation expense expected | 0 |
Other stock-based compensation | 2025 | |
Share-based compensation | |
Future share-based compensation expense expected | $ 0 |
STOCKHOLDERS' EQUITY_ - Stock O
STOCKHOLDERS' EQUITY: - Stock Option Activity of Continuing Operations (Details) - USD ($) $ / shares in Units, $ in Thousands | Feb. 17, 2021 | Jul. 02, 2019 | Feb. 28, 2021 | Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 |
Share-based compensation | ||||||
Exercised (in dollars per share) | $ 12.16 | |||||
Exercised | $ 23,227 | |||||
DataFleets, Ltd | ||||||
Share-based compensation | ||||||
Total fair value of the replacement stock options issued | $ 2,900 | 2,900 | ||||
Data Plus Math Corporation | ||||||
Share-based compensation | ||||||
Total fair value of the replacement stock options issued | $ 7,400 | $ 7,400 | ||||
Fair value of replacement stock options considered a component of purchase price | 2,300 | 2,300 | ||||
Share-based payment arrangement, amount capitalized | $ 5,100 | 5,100 | ||||
Stock options | ||||||
Share-based compensation | ||||||
Exercised | $ 23,200 | $ 6,700 | $ 35,300 | |||
Stock options | DataFleets, Ltd | ||||||
Share-based compensation | ||||||
Shares issued in period (in shares) | 42,154 | |||||
Exercised (in dollars per share) | $ 0.70 | |||||
Stock options | Data Plus Math Corporation | ||||||
Share-based compensation | ||||||
Shares issued in period (in shares) | 162,481 | |||||
Exercised (in dollars per share) | $ 1.64 |
STOCKHOLDERS' EQUITY_ - Stock_3
STOCKHOLDERS' EQUITY: - Stock Option Activity (Details) $ / shares in Units, $ in Thousands | 12 Months Ended |
Mar. 31, 2021USD ($)$ / sharesshares | |
Stock Option Activity - Number of Shares | |
Outstanding at beginning of the period (in shares) | shares | 1,350,658 |
Grants in period (in shares) | shares | 42,154 |
Exercised (in shares) | shares | (538,798) |
Forfeited or cancelled (in shares) | shares | (9,969) |
Outstanding at end of the period (in shares) | shares | 844,045 |
Weighted-average exercise price per share | |
Outstanding at the beginning of the period (in dollars per share) | $ / shares | $ 14.43 |
Grants in period (in dollars per share) | $ / shares | 0.70 |
Exercised (in dollars per share) | $ / shares | 12.16 |
Forfeited or cancelled (in dollars per share) | $ / shares | 4.14 |
Outstanding at the end of the period (in dollars per share) | $ / shares | $ 15.31 |
Weighted average remaining contractual term | 3 years 4 months 24 days |
Exercised | $ | $ 23,227 |
Outstanding at the end of the period | $ | $ 30,863 |
Exercisable at the end of the period (in shares) | shares | 776,744 |
Exercisable at the end of the period (in dollars per share) | $ / shares | $ 16.53 |
Exercisable at the end of the period | 3 years |
Exercisable at the end of the period | $ | $ 27,454 |
STOCKHOLDERS' EQUITY_ - Summary
STOCKHOLDERS' EQUITY: - Summary of Options (Details) | 12 Months Ended |
Mar. 31, 2021$ / sharesshares | |
Stock options outstanding and exercisable by exercise price range | |
Options outstanding (in shares) | shares | 844,045 |
Options outstanding - Weighted-average remaining contractual life | 3 years 4 months 24 days |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 15.31 |
Options exercisable (in shares) | shares | 776,744 |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 16.53 |
Range of exercise price per share from $0.61 to $9.99 | |
Stock options outstanding and exercisable by exercise price range | |
Exercise price per share, low end of range (in dollars per share) | 0.61 |
Exercise price per share, high end of range (in dollars per share) | $ 9.99 |
Options outstanding (in shares) | shares | 152,105 |
Options outstanding - Weighted-average remaining contractual life | 5 years 8 months 12 days |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 1.30 |
Options exercisable (in shares) | shares | 84,804 |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 1.36 |
Range of exercise price per share from $10.00 to $19.99 | |
Stock options outstanding and exercisable by exercise price range | |
Exercise price per share, low end of range (in dollars per share) | 10 |
Exercise price per share, high end of range (in dollars per share) | $ 19.99 |
Options outstanding (in shares) | shares | 346,807 |
Options outstanding - Weighted-average remaining contractual life | 2 years 8 months 12 days |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 15.50 |
Options exercisable (in shares) | shares | 346,807 |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 15.50 |
Range of exercise price per share from $20.00 to $24.99 | |
Stock options outstanding and exercisable by exercise price range | |
Exercise price per share, low end of range (in dollars per share) | 20 |
Exercise price per share, high end of range (in dollars per share) | $ 24.99 |
Options outstanding (in shares) | shares | 345,133 |
Options outstanding - Weighted-average remaining contractual life | 3 years 1 month 6 days |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 21.31 |
Options exercisable (in shares) | shares | 345,133 |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 21.31 |
STOCKHOLDERS' EQUITY_ - Share a
STOCKHOLDERS' EQUITY: - Share activity related to PSU conversions (Details) | 12 Months Ended |
Mar. 31, 2019shares | |
Performance Based Restricted Stock Units | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (617,101) |
Performance Based Restricted Stock Units | Fiscal 2017 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (214,596) |
Performance Based Restricted Stock Units | Fiscal 2018 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (185,778) |
Performance Based Restricted Stock Units | Fiscal 2019 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (216,727) |
Performance Based Restricted Stock Units | Continuing operations | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (503,880) |
Performance Based Restricted Stock Units | Continuing operations | Fiscal 2017 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (168,378) |
Performance Based Restricted Stock Units | Continuing operations | Fiscal 2018 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (148,963) |
Performance Based Restricted Stock Units | Continuing operations | Fiscal 2019 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (186,539) |
Performance Based Restricted Stock Units | Discontinued Operations | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (113,221) |
Performance Based Restricted Stock Units | Discontinued Operations | Fiscal 2017 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (46,218) |
Performance Based Restricted Stock Units | Discontinued Operations | Fiscal 2018 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (36,815) |
Performance Based Restricted Stock Units | Discontinued Operations | Fiscal 2019 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | (30,188) |
Time Vesting Restricted Stock Units | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 1,234,202 |
Time Vesting Restricted Stock Units | Fiscal 2017 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 429,192 |
Time Vesting Restricted Stock Units | Fiscal 2018 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 371,556 |
Time Vesting Restricted Stock Units | Fiscal 2019 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 433,454 |
Time Vesting Restricted Stock Units | Continuing operations | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 1,007,760 |
Time Vesting Restricted Stock Units | Continuing operations | Fiscal 2017 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 336,756 |
Time Vesting Restricted Stock Units | Continuing operations | Fiscal 2018 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 297,926 |
Time Vesting Restricted Stock Units | Continuing operations | Fiscal 2019 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 373,078 |
Time Vesting Restricted Stock Units | Discontinued Operations | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 226,442 |
Time Vesting Restricted Stock Units | Discontinued Operations | Fiscal 2017 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 92,436 |
Time Vesting Restricted Stock Units | Discontinued Operations | Fiscal 2018 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 73,630 |
Time Vesting Restricted Stock Units | Discontinued Operations | Fiscal 2019 PSU | |
Share-based compensation | |
Units converted, by grant date period (in shares) | 60,376 |
STOCKHOLDERS' EQUITY_ - Recogni
STOCKHOLDERS' EQUITY: - Recognition of incremental and accelerated compensation costs related to the PSU conversions (Details) - Performance Based Restricted Stock Units $ in Thousands | 12 Months Ended |
Mar. 31, 2019USD ($) | |
Share-based compensation | |
Incremental compensation cost | $ 8,778 |
Accelerated compensation cost | 1,607 |
Continuing operations | |
Share-based compensation | |
Incremental compensation cost | 7,179 |
Accelerated compensation cost | 0 |
Discontinued Operations | |
Share-based compensation | |
Incremental compensation cost | 1,599 |
Accelerated compensation cost | $ 1,607 |
STOCKHOLDERS' EQUITY_ - AMS Res
STOCKHOLDERS' EQUITY: - AMS Restricted Stock Unit Accelerations (Details) - Time Vesting Restricted Stock Units $ in Millions | 12 Months Ended |
Mar. 31, 2019USD ($)shares | |
Share-based compensation | |
Granted (in shares) | shares | 1,187,344 |
Accelerated compensation cost | $ 54 |
Incremental compensation cost | 27 |
Accelerated original grant date fair value, compensation cost | $ 27 |
STOCKHOLDERS' EQUITY_ - Time-ve
STOCKHOLDERS' EQUITY: - Time-vesting restricted stock unit, narrative (Details) - Restricted stock units - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Time Based Vesting | |||
Share-based compensation | |||
Granted (in shares) | 2,228,445 | 1,697,506 | 1,939,746 |
Aggregate fair value of restricted stock units granted | $ 99.8 | $ 85.6 | |
Grants in period, total fair value | $ 69.5 | ||
Vested in period, fair value | $ 126.9 | $ 59.8 | $ 93.1 |
Time Based Vesting | DataFleets, Ltd | |||
Share-based compensation | |||
Granted (in shares) | 193,595 | ||
Aggregate fair value of restricted stock units granted | $ 13.5 | ||
Time Based Vesting | Data Plus Math Corporation | |||
Share-based compensation | |||
Granted (in shares) | 155,346 | ||
Aggregate fair value of restricted stock units granted | $ 7.3 | ||
Vesting in four years | |||
Share-based compensation | |||
Granted (in shares) | 1,856,444 | ||
Vesting period | 4 years | 4 years | 4 years |
Time-Based Partial Cliff Vesting Tranche One | |||
Share-based compensation | |||
Granted (in shares) | 83,302 | ||
Vesting period | 1 year |
STOCKHOLDERS' EQUITY_ - Time-_2
STOCKHOLDERS' EQUITY: - Time-vesting restricted stock unit activity (Details) - Restricted stock units - Time Based Vesting - $ / shares | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Non-vested restricted stock unit activity | |||
Outstanding at the beginning of the period (in shares) | 3,351,638 | ||
Granted (in shares) | 2,228,445 | 1,697,506 | 1,939,746 |
Vested (in shares) | (1,587,963) | ||
Units vested under the Company's March 2021 acceleration plan (in shares) | (700,936) | ||
Forfeited or cancelled (in shares) | (598,941) | ||
Outstanding at the end of the period (in shares) | 2,692,243 | 3,351,638 | |
Non-vested restricted stock units, Weighted average fair value per share at grant date | |||
Outstanding at the beginning of the period (in dollars per share) | $ 40.68 | ||
Granted (in dollars per share) | 44.77 | ||
Vested (in dollars per share) | 37.23 | ||
Units vested under the Company's March 2021 acceleration plan (in dollars per share) | 40.37 | ||
Forfeited or cancelled (in dollars per share) | 41.67 | ||
Outstanding at the end of the period (in dollars per share) | $ 45.96 | $ 40.68 | |
Weighted average remaining contractual term (in years) | 2 years 9 months 3 days | 2 years 6 months 3 days |
STOCKHOLDERS' EQUITY_ - Non-ves
STOCKHOLDERS' EQUITY: - Non-vested performance-based restricted stock unit activity (Details) - Restricted stock units - Performance stock - $ / shares | 9 Months Ended | 12 Months Ended | ||
Dec. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Non-vested restricted stock unit activity | ||||
Outstanding at the beginning of the period (in shares) | 545,446 | 545,446 | ||
Granted (in shares) | 246,524 | 202,818 | 534,438 | |
Additional earned performance shares (in shares) | 38,063 | |||
Vested (in shares) | (122,573) | |||
Units vested under the Company's March 2021 acceleration plan (in shares) | (39,344) | |||
Forfeited or cancelled (in shares) | (36,247) | |||
Outstanding at the end of the period (in shares) | 631,869 | 545,446 | ||
Non-vested restricted stock units, Weighted average fair value per share at grant date | ||||
Outstanding at the beginning of the period (in dollars per share) | $ 51.01 | $ 51.01 | ||
Granted (in dollars per share) | 43.40 | |||
Additional earned performance shares (in dollars per share) | 55.48 | |||
Vested (in dollars per share) | 48.86 | |||
Units vested under the Company's March 2021 acceleration plan (in dollars per share) | 49.14 | |||
Forfeited or cancelled (in dollars per share) | 35.42 | |||
Outstanding at the end of the period (in dollars per share) | $ 49.74 | $ 51.01 | ||
Weighted average remaining contractual term (in years) | 2 years 2 months 26 days | 1 year 6 months 14 days |
STOCKHOLDERS' EQUITY_ - Perform
STOCKHOLDERS' EQUITY: - Performance-based restricted stock units (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2021 | Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | Jul. 16, 2020 | |
Acuity Data | |||||
Share-based compensation | |||||
Business combination, contingent consideration arrangements, range of outcomes, value, high | $ 5,100 | ||||
Business combination, contingent consideration, liability | $ 2,208 | $ 2,208 | $ 0 | ||
Acuity Data | Accrued Liabilities | |||||
Share-based compensation | |||||
Business combination, contingent consideration, liability | $ 2,200 | $ 2,200 | |||
Restricted stock units | Performance stock | |||||
Share-based compensation | |||||
Granted (in shares) | 246,524 | 202,818 | 534,438 | ||
Aggregate fair value of restricted stock units granted | $ 10,700 | $ 12,300 | $ 22,000 | ||
Vesting in period (in shares) | 122,573 | ||||
Forfeited in period (in shares) | 36,247 | ||||
Outstanding at the end of the period (in shares) | 631,869 | 631,869 | 545,446 | ||
The total fair value of performance-based restricted stock units | $ 8,400 | $ 2,200 | |||
Restricted stock units | Performance Shares Vesting Total Shareholder Return | |||||
Share-based compensation | |||||
Granted (in shares) | 73,950 | 60,844 | |||
Aggregate fair value of restricted stock units granted | $ 4,200 | $ 4,400 | |||
Restricted stock units | Performance Shares Vesting Total Shareholder Return | Minimum | |||||
Share-based compensation | |||||
Award vesting rights percentage | 0.00% | 0.00% | |||
Restricted stock units | Performance Shares Vesting Total Shareholder Return | Maximum | |||||
Share-based compensation | |||||
Award vesting rights percentage | 200.00% | 200.00% | |||
Restricted stock units | Performance Shares Vesting Under The Second Plan | |||||
Share-based compensation | |||||
Granted (in shares) | 172,574 | 141,974 | |||
Aggregate fair value of restricted stock units granted | $ 6,500 | $ 7,900 | |||
Restricted stock units | Performance Shares Vesting Under The Second Plan | Minimum | |||||
Share-based compensation | |||||
Award vesting rights percentage | 0.00% | ||||
Restricted stock units | Performance Shares Vesting Under The Second Plan | Maximum | |||||
Share-based compensation | |||||
Award vesting rights percentage | 200.00% | ||||
Restricted stock units | Performance Shares Vesting One-Year Anniversary Of Attainment | |||||
Share-based compensation | |||||
Award vesting rights percentage | 50.00% | ||||
Vesting period | 1 year | ||||
Restricted stock units | Performance Shares Vesting In Three Equal Annual Increments | |||||
Share-based compensation | |||||
Vesting in period (in shares) | 82,494 | ||||
Forfeited in period (in shares) | 38,063 | ||||
Restricted stock units | Vesting Based on Relevant Performance Period Over Two Periods at March 31 2020 | |||||
Share-based compensation | |||||
Award vesting rights percentage | 164.00% | ||||
Forfeited in period (in shares) | 97,543 | ||||
Restricted stock units | Performance Shares Vesting Over Two Periods the Second Quarter of Fiscal Year 2022 | |||||
Share-based compensation | |||||
Award vesting rights percentage | 57.00% | ||||
Forfeited in period (in shares) | 177,181 | ||||
Outstanding at the end of the period (in shares) | 432,652 | 432,652 | |||
Restricted stock units | 2021 Performance Shares That Will Vest Immediately | |||||
Share-based compensation | |||||
Award vesting rights percentage | 50.00% | ||||
Restricted stock units | Vesting Based on Relevant Performance Period Over Two Periods at March 31 2022 | Minimum | |||||
Share-based compensation | |||||
Award vesting rights percentage | 0.00% | ||||
Restricted stock units | Vesting Based on Relevant Performance Period Over Two Periods at March 31 2022 | Maximum | |||||
Share-based compensation | |||||
Award vesting rights percentage | 200.00% | ||||
Restricted stock units | Vesting Based On Relevant Performance Period For First Performance Plan At March 31 2019 | |||||
Share-based compensation | |||||
Granted (in shares) | 186,539 | ||||
Aggregate fair value of restricted stock units granted | $ 5,800 | ||||
Restricted stock units | Vesting Based On Relevant Performance Period For First Performance Plan At March 31 2019 | Minimum | |||||
Share-based compensation | |||||
Equity instrument other than options, percentage of vesting | 25.00% | ||||
Restricted stock units | Vesting Based On Relevant Performance Period For First Performance Plan At March 31 2019 | Maximum | |||||
Share-based compensation | |||||
Equity instrument other than options, percentage of vesting | 200.00% | ||||
Restricted stock units | Vesting Based On Relevant Performance Period For Second Performance Plan At March 31 2019 | |||||
Share-based compensation | |||||
Granted (in shares) | 347,899 | ||||
Aggregate fair value of restricted stock units granted | $ 16,200 | ||||
Restricted stock units | Vesting Based On Relevant Performance Period For Second Performance Plan At March 31 2019 | Minimum | |||||
Share-based compensation | |||||
Equity instrument other than options, percentage of vesting | 0.00% | ||||
Restricted stock units | Vesting Based On Relevant Performance Period For Second Performance Plan At March 31 2019 | Maximum | |||||
Share-based compensation | |||||
Equity instrument other than options, percentage of vesting | 200.00% | ||||
Restricted stock units | 2020 Performance Shares That Will Vest Immediately | |||||
Share-based compensation | |||||
Award vesting rights percentage | 33.00% | ||||
Restricted stock units | 2020 Performance Shares That Vest In Equal Increments In First Quarters Of Fiscal Years 2022 And 2023 | |||||
Share-based compensation | |||||
Award vesting rights percentage | 67.00% | ||||
Restricted stock units | Performance Shares Vesting Based On Attainment Of The Year-Over-Year Revenue Growth Targets | |||||
Share-based compensation | |||||
Vesting in period (in shares) | 59,480 | ||||
Restricted stock units | 2019 Performance Shares That Will Vest Immediately | |||||
Share-based compensation | |||||
Award vesting rights percentage | 50.00% | ||||
Restricted stock units | 2019 Performance Shares That Will Vest In The Second Quarter Of Fiscal Year 2022 | |||||
Share-based compensation | |||||
Award vesting rights percentage | 50.00% |
STOCKHOLDERS' EQUITY_ - Stock_4
STOCKHOLDERS' EQUITY: - Stock-based Compensation Expense Related to Discontinued Operations (Details) $ in Millions | 12 Months Ended | ||||
Mar. 31, 2021USD ($)numberOfExerciseMultiple | Mar. 31, 2020USD ($)numberOfExerciseMultiple | Mar. 31, 2019USD ($) | Feb. 17, 2021numberOfExerciseMultiple | Jul. 02, 2019numberOfExerciseMultiple | |
Share-based compensation | |||||
Stock-based compensation of discontinued operations | $ 62.9 | ||||
Consideration Holdback | |||||
Share-based compensation | |||||
Contingent consideration arrangements, number of annual increments | numberOfExerciseMultiple | 3 | ||||
DataFleets, Ltd | |||||
Share-based compensation | |||||
Holdback consideration transferred | $ 18.1 | ||||
Holdback expenses | 0.8 | ||||
DataFleets, Ltd | Accrued Liabilities | |||||
Share-based compensation | |||||
Holdback expenses | $ 0.8 | ||||
DataFleets, Ltd | Consideration Holdback | |||||
Share-based compensation | |||||
Contingent consideration arrangements, number of annual increments | numberOfExerciseMultiple | 3 | 3 | |||
Data Plus Math Corporation | |||||
Share-based compensation | |||||
Holdback consideration transferred | $ 24.4 | ||||
Holdback expenses | 14.2 | ||||
Data Plus Math Corporation | Accrued Liabilities | |||||
Share-based compensation | |||||
Holdback expenses | $ 6.1 | ||||
Data Plus Math Corporation | Consideration Holdback | |||||
Share-based compensation | |||||
Contingent consideration arrangements, number of annual increments | numberOfExerciseMultiple | 3 |
STOCKHOLDERS' EQUITY_ - PDP Ass
STOCKHOLDERS' EQUITY: - PDP Assumed Performance Plan and Qualified EPP (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Share-based compensation | ||
Other accrued expenses | $ 58,353 | $ 68,991 |
Pacific Data Partners LLC | ||
Share-based compensation | ||
Non-cash stock-based compensation expense | 56,400 | |
Other accrued expenses | $ 0 |
STOCKHOLDERS' EQUITY_ Qualified
STOCKHOLDERS' EQUITY: Qualified Employee Stock Purchase Plan (Details) - Employee Stock - USD ($) $ in Millions | 12 Months Ended | 36 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2021 | |
Share-based compensation | ||||
Shares which remained available for future grants (in shares) | 400,000 | 400,000 | ||
Shares subject to purchase in the current purchase period (in shares) | 100,000 | |||
Stock issued during period, ESPP (in shares) | 200,683 | |||
Share-based compensation expense | $ 1 | $ 0.5 | $ 0.4 |
INCOME TAX_ - Allocated Income
INCOME TAX: - Allocated Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Income Tax Disclosure [Abstract] | |||
Continuing operations | $ (30,532) | $ (40,276) | $ (45,409) |
Discontinued operations | 0 | 207 | 470,346 |
Total | $ (30,532) | $ (40,069) | $ 424,937 |
INCOME TAX_ - Income tax expens
INCOME TAX: - Income tax expense (benefit) attributable to earnings (loss) from continuing operations (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Current: | |||
U.S. Federal | $ (28,060) | $ (33,715) | $ (39,534) |
Non-U.S. | 17 | 146 | 323 |
State | (1,071) | 171 | (16,092) |
Total current income tax expense (benefit) | (29,114) | (33,398) | (55,303) |
Deferred: | |||
U.S. Federal | (1,205) | (5,103) | 1,245 |
Non-U.S. | (44) | (1,006) | 149 |
State | (169) | (769) | 8,500 |
Total deferred income tax expense (benefit) | (1,418) | (6,878) | 9,894 |
Total | $ (30,532) | $ (40,276) | $ (45,409) |
INCOME TAXES_ - Earnings (loss)
INCOME TAXES: - Earnings (loss) before income tax attributable to U.S. and non-U.S. continuing operations (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Income Tax Disclosure [Abstract] | |||
U.S. | $ (122,257) | $ (160,457) | $ (174,867) |
Non-U.S. | 1,457 | (5,080) | (4,489) |
Loss from continuing operations before income taxes | $ (120,800) | $ (165,537) | $ (179,356) |
INCOME TAXES_ - Reconciliation
INCOME TAXES: - Reconciliation of Expected Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Income Tax Disclosure [Abstract] | |||
Computed expected income tax benefit | $ (25,368) | $ (34,763) | $ (37,665) |
Income Tax Expense (Benefit) Continuing Operations Income Tax Reconciliation Increase (Decrease) [Abstract] | |||
State income taxes, net of federal benefit | (979) | (473) | (5,998) |
Research and other tax credits | (4,635) | (1,517) | (3,141) |
Nondeductible expenses | 1,104 | 838 | 426 |
Stock-based compensation | (2,024) | 5,025 | (5,350) |
Non-U.S. subsidiaries taxed at other rates | 194 | 230 | 1,343 |
Adjustment to valuation allowances | 2,230 | (2,245) | 5,204 |
Net operating loss carryback taxed at other rates | 0 | (7,360) | 0 |
Other, net | (1,054) | (11) | (228) |
Total | $ (30,532) | $ (40,276) | $ (45,409) |
INCOME TAXES_ - Reconciliatio_2
INCOME TAXES: - Reconciliation of deferred tax assets/liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Mar. 31, 2020 |
Deferred tax assets: | ||
Accrued expenses | $ 3,501 | $ 3,978 |
Deferred revenue | 11 | 16 |
Lease liabilities | 3,324 | 4,939 |
Net operating loss carryforwards | 35,945 | 33,516 |
Stock-based compensation | 2,991 | 8,076 |
Nonqualified deferred compensation | 2,802 | 2,815 |
Tax credit carryforwards | 7,818 | 1,240 |
Other | 2,856 | 2,778 |
Total deferred tax assets | 59,248 | 57,358 |
Less valuation allowance | (35,332) | (32,971) |
Net deferred tax assets | 23,916 | 24,387 |
Deferred tax liabilities: | ||
Prepaid expenses | (6,734) | (2,239) |
Property and equipment | (248) | (1,742) |
Right-of-use assets | (3,016) | (4,147) |
Intangible assets | (8,409) | (9,605) |
Deferred commissions | (5,391) | (3,817) |
Accrued expenses | 0 | (2,189) |
Total deferred tax liabilities | (23,798) | (23,739) |
Net deferred tax assets | $ 118 | $ 648 |
INCOME TAXES - Unrecognized tax
INCOME TAXES - Unrecognized tax benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Income Tax Disclosure [Abstract] | |||
Balance at beginning of period | $ 23,400 | $ 19,600 | $ 15,415 |
Increases related to prior year tax positions | 0 | 2,458 | 325 |
Decreases related to prior year tax positions | (139) | (1,048) | (292) |
Increases related to current year tax positions | 1,765 | 2,433 | 5,483 |
Increases related to current year tax positions | 0 | (43) | (1,331) |
Balance at end of period | $ 25,026 | $ 23,400 | $ 19,600 |
INCOME TAXES_ - Narrative (Deta
INCOME TAXES: - Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | |||||
Mar. 31, 2021 | Mar. 31, 2022 | Apr. 01, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Income Tax Examination [Line Items] | ||||||
Deferred tax assets, valuation allowance | $ 35,332 | $ 32,971 | ||||
Gross unrecognized tax benefits | 25,026 | $ 23,400 | $ 19,600 | $ 15,415 | ||
Gross unrecognized tax benefits that would impact effective tax rate | 22,600 | |||||
Accrued interest and penalties related to tax positions on tax returns | 3,500 | |||||
Increase in accrued interest and penalties related to tax positions on tax returns | 1,000 | |||||
Internal Revenue Service (IRS) | ||||||
Income Tax Examination [Line Items] | ||||||
Operating loss carryforwards | 34,300 | |||||
Federal tax authority | ||||||
Income Tax Examination [Line Items] | ||||||
Credit carryforwards that will not expire | 24,000 | |||||
Tax credit carryforward, amount | 5,400 | |||||
State and Local Jurisdiction | ||||||
Income Tax Examination [Line Items] | ||||||
Operating loss carryforwards | 126,200 | |||||
Credit carryforwards that will not expire | 18,900 | |||||
Tax credit carryforward, amount | 5,800 | |||||
Foreign Tax Authority | ||||||
Income Tax Examination [Line Items] | ||||||
Foreign net operating loss carryforwards | 101,000 | |||||
Deferred tax assets, valuation allowance | 26,000 | |||||
Indefinite Tax Year | ||||||
Income Tax Examination [Line Items] | ||||||
Foreign net operating loss carryforwards | 90,200 | |||||
Indefinite Tax Year | State and Local Jurisdiction | ||||||
Income Tax Examination [Line Items] | ||||||
Tax credit carryforward, amount | $ 5,200 | |||||
Tax Year 2021 | Scenario, Forecast | ||||||
Income Tax Examination [Line Items] | ||||||
Income tax examination, refund adjustment from settlement with taxing authority | $ 28,000 | $ 28,000 | ||||
Tax Year 2020 | Scenario, Forecast | ||||||
Income Tax Examination [Line Items] | ||||||
Income tax examination, refund adjustment from settlement with taxing authority | $ 33,000 |
RETIREMENT PLANS_ - (Details)
RETIREMENT PLANS: - (Details) - USD ($) $ in Thousands | Jan. 01, 2019 | Dec. 31, 2018 | Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 |
Defined Contribution Plan Disclosure [Line Items] | |||||
Employer matching contribution, percent of match | 100.00% | 50.00% | |||
Employer matching contribution, percent of employees' gross pay | 6.00% | 6.00% | |||
Defined contribution plan cost | $ 9,400 | $ 7,900 | $ 2,900 | ||
Liabilities of non-qualified retirement plan | 15,838 | 11,623 | |||
Supplemental Non-Qualified Deferred Compensation Plan | |||||
Defined Contribution Plan Disclosure [Line Items] | |||||
Assets of non-qualified retirement plan | $ 15,800 | ||||
Liabilities of non-qualified retirement plan | $ 11,600 |
FOREIGN OPERATIONS_ (Details)
FOREIGN OPERATIONS: (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenues | $ 443,026 | $ 380,572 | $ 285,620 |
Long-lived assets | 462,606 | 405,818 | |
United States | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenues | 415,976 | 354,437 | 262,135 |
Long-lived assets | 456,662 | 399,456 | |
Group Of Foreign Countries | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenues | 27,050 | 26,135 | 23,485 |
Long-lived assets | 5,944 | 6,362 | |
Europe | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenues | 22,515 | 20,789 | 18,566 |
Long-lived assets | 1,084 | 2,724 | |
Asia-Pacific ("APAC") | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenues | 4,535 | 5,346 | $ 4,919 |
Long-lived assets | $ 4,860 | $ 3,638 |
FAIR VALUE OF FINANCIAL INSTR_3
FAIR VALUE OF FINANCIAL INSTRUMENTS: (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Mar. 31, 2020 |
Fair value of assets and liabilities | ||
Assets of non-qualified retirement plan | $ 15,838 | $ 11,623 |
Fair value measurements on recurring basis | Estimate of Fair Value Measurement | ||
Fair value of assets and liabilities | ||
Assets of non-qualified retirement plan | 15,838 | 11,623 |
Total assets | 15,838 | 11,623 |
Fair value measurements on recurring basis | Estimate of Fair Value Measurement | Level 1 | ||
Fair value of assets and liabilities | ||
Assets of non-qualified retirement plan | 15,838 | 11,623 |
Total assets | 15,838 | 11,623 |
Fair value measurements on recurring basis | Estimate of Fair Value Measurement | Level 2 | ||
Fair value of assets and liabilities | ||
Assets of non-qualified retirement plan | 0 | 0 |
Total assets | 0 | 0 |
Fair value measurements on recurring basis | Estimate of Fair Value Measurement | Level 3 | ||
Fair value of assets and liabilities | ||
Assets of non-qualified retirement plan | 0 | 0 |
Total assets | $ 0 | $ 0 |
FAIR VALUE OF FINANCIAL INSTR_4
FAIR VALUE OF FINANCIAL INSTRUMENTS: - Narrative (Details) - USD ($) | 12 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Fair Value Disclosures [Abstract] | |||
Strategic investments without readily determinable fair values | $ 5,700,000 | $ 3,500,000 | |
Asset impairment charges | $ 0 | $ 0 | $ 0 |
SUBSEQUENT EVENT (Details)
SUBSEQUENT EVENT (Details) - Subsequent Event - Diablo.AI, Inc. $ in Millions | Apr. 21, 2021USD ($) |
Subsequent Event [Line Items] | |
Payments to acquire businesses, gross | $ 8.6 |
Holdback consideration transferred | 1.2 |
Assumed restricted stock awards | $ 2.1 |
Vesting period | 3 years |
Uncategorized Items - ramp-2021
Label | Element | Value |
Accounting Standards Update [Extensible List] | us-gaap_AccountingStandardsUpdateExtensibleList | us-gaap:AccountingStandardsUpdate201409Member |