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Share-based Compensation (Tables)

12 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Compensation Expense

The following table summarizes the components of total share-based compensation expense included in the consolidated statements of operations for each period presented (in thousands):

			Fiscal Year Ended March 31,
			2024						2023						2022
Cost of revenue			$	26,622					$	18,383					$	12,863
Research and development			69,543						41,406						21,316
Sales and marketing			65,762						51,147						35,957
General and administrative			46,969						35,938						29,400
Total share-based compensation expense			$	208,896					$	146,874					$	99,536

Schedule of Activity for Stock Options

The following table summarizes activity for stock options during the period ended March 31, 2024:

			Number of Options						Weighted Average Exercise Price						Weighted Average Remaining Contractual Term						Aggregate Intrinsic Value
			(in thousands)						(per share)						(years)						(in thousands)
Balance, March 31, 2023			4,636						$	22.25					6.5						$	94,565
Exercised			(1,500)						20.79
Forfeited or expired			(73)						39.64
Balance, March 31, 2024			3,063						$	22.56					5.6						$	73,903
Options vested and expected to vest at March 31, 2024			3,063						$	22.56					5.6						$	73,903
Options vested and exercisable at March 31, 2024			2,936						$	21.82					5.6						$	72,848

Schedule of Fair value Assumptions for Stock Options

The fair value for the Company’s stock options granted during the year ended March 31, 2022 was estimated at the date of grant using a Black-Scholes option-pricing model using the following assumptions:

Expected dividend yield			—
Expected volatility			39.5% - 39.8%
Expected term (years)			6.1
Risk-free interest rate			0.9% - 1.1%

Schedule of Restricted Stock Activity

The following table provides a summary of the changes in the number of RSAs and RSUs for the year ended March 31, 2024:

			Number of RSAs						Weighted Average Grant Date Fair Value						Number of RSUs						Weighted Average Grant Date Fair Value
			(in thousands)						(per share)						(in thousands)						(per share)
Balance, March 31, 2023			4						$	16.00					8,836						$	41.76
Granted			142						49.05						6,193						51.60
Vested			(4)						16.00						(4,376)						40.69
Forfeited			—						—						(801)						44.83
Balance, March 31, 2024			142						$	49.05					9,852						$	48.17

Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions

The Company estimated the fair value of the ESPP purchase rights using a Black-Scholes option pricing model with the following assumptions:

			Fiscal Year Ended March 31,
			2024						2023						2022
Expected dividend yield			—						—						—
Expected volatility			32.2% - 51.6%						35.4% - 64.3%						35.4% - 40.6%
Expected term (years)			0.5						0.5						0.5
Risk-free interest rate			4.7% - 5.4%						0.1% - 4.7%						0.04% - 0.1%

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