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Equity (Tables)

6 Months Ended

Sep. 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):

			September 30, 2023
Common stock warrants			641
2010 Plan
Options outstanding			16,664
2021 Plan
Awards outstanding			2,159
Shares available for future grant			41,195
2021 ESPP			8,104
Options outstanding outside the plans			2,655
Total			71,418

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			(2,380)						3.05
Options forfeited or expired			(708)						5.47
Balance, September 30, 2023			19,319						4.51						6.12						322,735
Vested and exercisable as of September 30, 2023			11,804						2.93						5.40						215,941
Vested and expected to vest as of September 30, 2023			18,740						4.44						6.09						314,519

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			749						30.02
Vested			(392)						38.44
Forfeited			(372)						44.59
Unvested balance, September 30, 2023			1,936						35.46

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			156						33.74
Vested			(78)						36.96
Forfeited			(61)						35.07
Unvested balance, September 30, 2023			223						33.10

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 September 30,												Six Months Ended September 30,
			2023						2022						2023						2022
Cost of revenue			$	2,278					$	2,392					$	4,739					$	4,514
Research and development			2,538						2,862						5,794						5,414
Sales and marketing			2,697						3,982						8,692						7,056
General and administrative			2,288						2,117						4,577						3,875
Restructuring			3,646						—						3,646						—
Total stock-based compensation expense			$	13,447					$	11,353					$	27,448					$	20,859

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