XML 57 R42.htm IDEA: XBRL DOCUMENT
v3.24.1.1.u2

Equity (Tables) | 12 Months Ended
--- | ---
Mar. 31, 2024
Equity [Abstract] |
Common Stock Reserved for Issuance | The Company has shares of common stock reserved for issuance as follows (in thousands):
| March 31, 2024 |  |
Common stock warrants | 516 |  |  |
2010 Plan |  |  |
Options outstanding | 14,842 |  |  |
2021 Plan |  |  |
Awards outstanding | 2,519 |  |  |
Shares available for future grant | 40,823 |  |  |
2021 ESPP | 8,002 |  |  |
Options outstanding outside the Plans | 2,638 |  |  |
Total | 69,340 |  |  |
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 | (4,019) |  |  | 3.19 |  |  |  |  |
Options forfeited or expired | (908) |  |  | 5.60 |  |  |  |  |
Balance, March 31, 2024 | 17,480 |  |  | 4.60 |  |  | 5.72 |  | 389,931 |
Vested and exercisable as of March 31, 2024 | 11,896 |  |  | 3.26 |  |  | 5.21 |  | 281,377 |
Vested and expected to vest as of March 31, 2024 | 17,480 |  |  | 4.60 |  |  | 5.72 |  | 389,931 |
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:
|  |  | Fiscal Year Ended March 31, 2022
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, 2023 | 1,951 |  |  | $ | 40.08 |
Granted | 1,300 |  |  | 29.72 |
Vested | (701) |  |  | 37.96 |
Forfeited | (457) |  |  | 41.85 |
Unvested balance, March 31, 2024 | 2,093 |  |  | 33.79 |
Stock-Based Compensation Expense | Total stock-based compensation expense recognized in the consolidated statement of operations was as follows (in thousands):
| Fiscal Year Ended March 31,
| 2024 |  | 2023 |  | 2022
Cost of revenue | $ | 9,479 |  |  | $ | 9,634 |  |  | $ | 4,979 |
Research and development | 11,978 |  |  | 12,583 |  |  | 7,065 |
Sales and marketing | 16,857 |  |  | 16,939 |  |  | 8,108 |
General and administrative | 9,116 |  |  | 8,678 |  |  | 11,290 |
Restructuring | 3,646 |  |  | — |  |  | — |
Total stock-based compensation expense | $ | 51,076 |  |  | $ | 47,834 |  |  | $ | 31,442 |

X
- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + 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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + 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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + 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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration