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Equity (Tables)

9 Months Ended

Dec. 31, 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):

			December 31, 2023
Common stock warrants			516
2010 Plan
Options outstanding			15,893
2021 Plan
Awards outstanding			2,060
Shares available for future grant			41,302
2021 ESPP			8,104
Options outstanding outside the plans			2,638
Total			70,513

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			(3,048)						3.18
Options forfeited or expired			(828)						5.37
Balance, December 31, 2023			18,531						4.54						5.93						435,409
Vested and exercisable as of December 31, 2023			12,027						3.08						5.34						300,244
Vested and expected to vest as of December 31, 2023			18,069						4.47						5.90						425,819

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			863						29.41
Vested			(553)						37.96
Forfeited			(426)						42.48
Unvested balance, December 31, 2023			1,835						34.95

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			165						33.25
Vested			(78)						36.96
Forfeited			(68)						34.30
Unvested balance, December 31, 2023			225						32.94

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,
			2023						2022						2023						2022
Cost of revenue			$	2,466					$	2,695					$	7,205					$	7,209
Research and development			3,080						4,002						8,874						9,416
Sales and marketing			4,060						4,856						12,752						11,912
General and administrative			2,165						2,431						6,742						6,306
Restructuring			—						—						3,646						—
Total stock-based compensation expense			$	11,771					$	13,984					$	39,219					$	34,843

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