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Equity (Tables) | 3 Months Ended
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Jun. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Common Stock Reserved for Issuance | The Company has shares of common stock reserved for issuance as follows (in thousands):
| June 30, 2023 |  |
Common stock warrants | 641 |  |  |
2010 Plan |  |  |
Options outstanding | 18,367 |  |  |
2021 Plan |  |  |
Awards outstanding | 2,480 |  |  |
Shares available for future grant | 40,500 |  |  |
2021 ESPP | 8,182 |  |  |
Options outstanding outside the plans | 2,655 |  |  |
Total | 72,825 |  |  |
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, 2023 | 22,407 |  |  | $ | 4.39 |  |  | 6.56 |  | $ | 627,187 |
Options exercised | (1,251) |  |  | 2.63 |  |  |  |  |
Options forfeited or expired | (134) |  |  | 3.53 |  |  |  |  |
Balance, June 30, 2023 | 21,022 |  |  | 4.50 |  |  | 6.50 |  | 620,595 |
Vested and exercisable as of June 30, 2023 | 11,800 |  |  | 2.79 |  |  | 5.75 |  | 368,541 |
Vested and expected to vest as of June 30, 2023 | 20,248 |  |  | 4.41 |  |  | 6.46 |  | 599,564 |
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, 2023 | 1,951 |  |  | $ | 40.08 |
Granted | 456 |  |  | 34.06 |
Vested | (180) |  |  | 38.98 |
Forfeited | (50) |  |  | 38.97 |
Unvested balance, June 30, 2023 | 2,177 |  |  | 38.94 |
Performance-Based Stock Unit Activity | The following table summarizes PSU activity (in thousands, except per share information):
| Number of Shares |  | Weighted- Average Grant Date Fair Value
Unvested balance, March 31, 2023 | 206 |  |  | $ | 34.68 |
Granted | 153 |  |  | 33.95 |
Forfeited | (56) |  |  | 35.27 |
Unvested balance, June 30, 2023 | 303 |  |  | 34.20 |
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 June 30,
|  |  |  |  | 2023 |  | 2022
Cost of revenue |  |  |  |  | $ | 2,461 |  |  | $ | 2,122 |
Research and development |  |  |  |  | 3,256 |  |  | 2,552 |
Sales and marketing |  |  |  |  | 5,995 |  |  | 3,074 |
General and administrative |  |  |  |  | 2,289 |  |  | 1,758 |
Total stock-based compensation expense |  |  |  |  | $ | 14,001 |  |  | $ | 9,506 |

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