Investments

6 Months Ended

Sep. 30, 2021

Investments, Debt and Equity Securities [Abstract]

The cost, gross unrealized gains and losses, and fair value of investments as of September 30, 2021 are as follows (in thousands):


	Cost or Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash equivalents:


Money market funds	$	15,105	$	—	$	—	$	15,105

Total cash equivalents	15,105		—		—		15,105
Marketable securities:
Asset-backed securities	5,708		1		(5)		5,704
Certificates of deposit	230		—		—		230
Commercial paper	499		9		(1)		507
Corporate notes and bonds	26,671		5		(32)		26,644
Sovereign bonds	8,780		—		(15)		8,765
U.S. government and agency securities	622,027		10		(747)		621,290

Total marketable securities	663,915		25		(800)		663,140
Total cash equivalents and marketable securities	$	679,020	$	25	$	(800)	$	678,245

As of September 30, 2021, the contractual maturities of the Company’s available-for-sale debt securities were as follows (in thousands):


	Fair Value
Due within one year	$	36,213
Due in one year to three years	642,032
Total	$	678,245

The cost, gross unrealized gains and losses, and fair value of investments as of March 31, 2021 were as follows (in thousands):


	Cost or Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash equivalents:
Commercial paper	$	2,290	$	—	$	—	$	2,290
Corporate notes and bonds	3,517		—		(1)		3,516
Money market funds	9,838		—		—		9,838
Certificates of deposit	1,301		—		—		1,301
Total cash equivalents	16,946		—		(1)		16,945
Marketable securities:
Asset-backed securities	3,264		—		(1)		3,263
Certificates of deposit	4,867		1		—		4,868
Commercial paper	16,411		1		—		16,412
Corporate notes and bonds	46,662		3		(24)		46,641
Sovereign bonds	1,100		—		(1)		1,099
U.S. government and agency securities	3,857		1		—		3,858
Total marketable securities	76,161		6		(26)		76,141
Total cash equivalents and marketable securities	$	93,107	$	6	$	(27)	$	93,086

As of March 31, 2021, the contractual maturities of the Company’s available-for-sale debt securities were as follows (in thousands):


	Fair Value
Due within one year	$	72,307
Due in one year to three years	20,779
Total	$	93,086

As of September 30, 2021 and March 31, 2021, the Company has recognized accrued interest of $1.5 million and $0.3 million, respectively, which is included in prepaid expenses and other current assets in the condensed consolidated balance sheets.

The unrealized losses associated with the Company’s debt securities were not material for the three and six months ended September 30, 2021 and 2020. The Company did not recognize any credit losses related to the Company’s debt securities during the three and six months ended September 30, 2021 and 2020.