XML 30 R14.htm IDEA: XBRL DOCUMENT
v3.23.1

Fair Value Measurements | 12 Months Ended
--- | ---
Mar. 31, 2023
Fair Value Disclosures [Abstract] |
Fair Value Measurements | Fair Value Measurements The following tables present the fair value hierarchy for the Company’s assets and liabilities measured at fair value on a recurring basis (in thousands):
| As of March 31, 2023
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Cash equivalents: |  |  |  |  |  |  |
Money market funds | $ | 126,275 |  |  | $ | — |  |  | $ | — |  |  | $ | 126,275 |
Total cash equivalents | 126,275 |  |  | — |  |  | — |  |  | 126,275 |
Marketable securities: |  |  |  |  |  |  |
Asset-backed securities | — |  |  | 7,200 |  |  | — |  |  | 7,200 |
Certificates of deposit | — |  |  | 27,300 |  |  | — |  |  | 27,300 |
Commercial paper | — |  |  | 78,489 |  |  | — |  |  | 78,489 |
Corporate notes and bonds | — |  |  | 118,512 |  |  | — |  |  | 118,512 |
Sovereign bonds | — |  |  | 7,384 |  |  | — |  |  | 7,384 |
U.S. government and agency securities | 439,748 |  |  | 4,339 |  |  | — |  |  | 444,087 |
Total marketable securities | 439,748 |  |  | 243,224 |  |  | — |  |  | 682,972 |
Total cash equivalents and marketable securities | $ | 566,023 |  |  | $ | 243,224 |  |  | $ | — |  |  | $ | 809,247 |
Liabilities: |  |  |  |  |  |  |
Contingent earn-out consideration liability | $ | — |  |  | $ | — |  |  | $ | 21,862 |  |  | $ | 21,862 |
Total contingent earn-out consideration liability | $ | — |  |  | $ | — |  |  | $ | 21,862 |  |  | $ | 21,862 |
| As of March 31, 2022
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Cash equivalents: |  |  |  |  |  |  |
Commercial paper | $ | — |  |  | $ | 2,686 |  |  | $ | — |  |  | $ | 2,686 |
Money market funds | 20,072 |  |  | — |  |  | — |  |  | 20,072 |
Total cash equivalents | 20,072 |  |  | 2,686 |  |  | — |  |  | 22,758 |
Marketable securities: |  |  |  |  |  |  |
Asset-backed securities | — |  |  | 7,740 |  |  | — |  |  | 7,740 |
Commercial paper | — |  |  | 9,383 |  |  | — |  |  | 9,383 |
Corporate notes and bonds | — |  |  | 128,104 |  |  | — |  |  | 128,104 |
Sovereign bonds | — |  |  | 8,436 |  |  | — |  |  | 8,436 |
U.S. government and agency securities | 530,174 |  |  | 1,467 |  |  | — |  |  | 531,641 |
Total marketable securities | 530,174 |  |  | 155,130 |  |  | — |  |  | 685,304 |
Total cash equivalents and marketable securities | $ | 550,246 |  |  | $ | 157,816 |  |  | $ | — |  |  | $ | 708,062 |
During the fiscal years ended March 31, 2023 and 2022, the Company had no transfers between levels of the fair value hierarchy. Contingent Earn-out Consideration Liability The following table summarizes the changes in the contingent earn-out consideration liability (in thousands):
|  |  | Fiscal Year Ended March 31, 2023
Beginning fair value |  |  | $ | — |
Additions in the period |  |  | 21,134 |
Change in fair value |  |  | 728 |
Ending fair value |  |  | $ | 21,862 |
The contingent earn-out consideration liability relates to the AMiON acquisition, which closed on April 1, 2022. The fair value of the liability is remeasured at each reporting date until the related contingency is resolved, with any changes to the fair value recognized as sales and marketing expense in the consolidated statements of operations. To determine the fair value of the contingent earn-out consideration liability, the Company used the discounted cash flow method. The significant inputs used in the fair value measurement of the contingent earn-out consideration liability are the discount rate and the timing and amounts of the future payments, which are based upon estimates of future achievement of the performance metrics. As these inputs are not based on observable market data, they represent a Level 3 measurement within the fair value hierarchy. Changes in the significant inputs used would significantly impact the fair value of the contingent earn-out consideration liability. See Note 8—Business Combinations for additional discussion regarding the AMiON acquisition.

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration