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Equity (Tables)

6 Months Ended

Sep. 30, 2024

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, 2024
Common stock warrants			315
2010 Plan
Options outstanding			12,737
2021 Plan
Awards outstanding			4,185
Shares available for future grant			40,572
2021 ESPP			9,812
Options outstanding outside the plans			2,638
Total			70,259

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, 2024			17,480						$	4.60					5.72						$	389,931
Options exercised			(2,024)						3.82
Options forfeited or expired			(81)						7.41
Balance, September 30, 2024			15,375						4.69						5.32						597,777
Vested and exercisable as of September 30, 2024			11,265						3.57						4.94						450,577
Vested and expected to vest as of September 30, 2024			15,375						4.69						5.32						597,777

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, 2024			2,093						$	33.79
Granted			2,599						25.87
Vested			(731)						30.52
Forfeited			(87)						28.26
Unvested balance, September 30, 2024			3,874						29.22

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,
			2024						2023						2024						2023
Cost of revenue			$	2,661					$	2,278					$	5,555					$	4,739
Research and development			5,447						2,538						10,131						5,794
Sales and marketing			6,808						2,697						13,394						8,692
General and administrative			2,952						2,288						5,878						4,577
Restructuring			—						3,646						—						3,646
Total stock-based compensation expense			$	17,868					$	13,447					$	34,958					$	27,448

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