XML 43 R33.htm IDEA: XBRL DOCUMENT
v3.22.4

Equity (Tables) | 9 Months Ended
--- | ---
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Common Stock Reserved for Issuance | The Company has shares of common stock reserved for issuance as follows (in thousands):
| December 31, 2022 |  |
Common stock warrants | 641 |  |  |
2010 Plan |  |  |
Options outstanding | 21,223 |  |  |
2021 Plan |  |  |
Awards outstanding | 2,022 |  |  |
Shares available for future grant | 30,945 |  |  |
2021 ESPP | 6,321 |  |  |
Options outstanding outside the plans | 2,655 |  |  |
Total | 63,807 |  |  |
Stock Option Activity | Stock option activities within the Plans as well as outside of the Plans were as follows:
| Number of Shares (in thousands) |  | Weighted-Average Exercise Price |  | Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
Balance, March 31, 2022 | 26,983 |  |  | $ | 4.15 |  |  | 7.63 |  | $ | 1,293,545 |
Options exercised | (2,659) |  |  | 2.77 |  |  |  |  |
Options forfeited or expired | (446) |  |  | 5.62 |  |  |  |  |
Balance, December 31, 2022 | 23,878 |  |  | 4.27 |  |  | 6.95 |  | 699,367 |
Vested and exercisable as of December 31, 2022 | 11,697 |  |  | 2.35 |  |  | 5.97 |  | 365,043 |
Vested and expected to vest as of December 31, 2022 | 22,476 |  |  | 4.19 |  |  | 6.89 |  | 660,023 |
Stock Options Valuation Assumptions | The fair value of each option on the date of grant was determined using the Black-Scholes option-pricing model with the assumptions set forth in the following table:
|  |  |  |  |  |  | Nine Months Ended December 31, 2021
Fair value of common stock |  |  |  |  |  |  |  |  |  |  |  |  | $18.41 - $21.41
Volatility |  |  |  |  |  |  |  |  |  |  |  |  | 46.5% - 47.0%
Risk-free interest rate |  |  |  |  |  |  |  |  |  |  |  |  | 0.77% - 1.02%
Expected term (in years) |  |  |  |  |  |  |  |  |  |  |  |  | 5.00 - 6.09
Expected dividend |  |  |  |  |  |  | —%
Restricted Stock Unit Activity | The following table summarizes RSU activity (in thousands, except per share information):
| Number of Shares |  | Weighted- Average Grant Date Fair Value
Unvested balance, March 31, 2022 | 534 |  |  | $ | 68.23 |
Granted | 1,590 |  |  | 33.91 |
Vested | (203) |  |  | 54.44 |
Forfeited | (92) |  |  | 46.55 |
Unvested balance, December 31, 2022 | 1,829 |  |  | 41.01 |
Stock-Based Compensation Expense | Total stock-based compensation expense recognized in the condensed consolidated statements of operations was as follows (in thousands):
| Three Months Ended December 31, |  | Nine Months Ended December 31,
| 2022 |  | 2021 |  | 2022 |  | 2021
Cost of revenue | $ | 2,695 |  |  | $ | 1,912 |  |  | $ | 7,209 |  |  | $ | 2,973 |
Research and development | 4,002 |  |  | 2,035 |  |  | 9,416 |  |  | 4,864 |
Sales and marketing | 4,856 |  |  | 2,681 |  |  | 11,912 |  |  | 5,575 |
General and administrative | 2,431 |  |  | 3,206 |  |  | 6,306 |  |  | 8,221 |
Total stock-based compensation expense | $ | 13,984 |  |  | $ | 9,834 |  |  | $ | 34,843 |  |  | $ | 21,633 |

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

X
- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration