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Equity (Tables)

12 Months Ended

Mar. 31, 2025

Equity [Abstract]

Common Stock Reserved for Issuance

The Company has shares of common stock reserved for issuance as follows (in thousands):

			March 31, 2025
Common stock warrants			280
2010 Plan
Options outstanding			10,445
2021 Plan
Awards outstanding			3,828
Shares available for future grant			40,449
2021 ESPP			9,742
Options outstanding outside the Plans			2,568
Total			67,312

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			(4,339)						3.86
Options forfeited or expired			(128)						7.38
Balance, March 31, 2025			13,013						4.82						4.92						692,422
Vested and exercisable as of March 31, 2025			10,057						3.96						4.64						543,794
Vested and expected to vest as of March 31, 2025			13,013						4.82						4.92						692,422

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			3,049						29.60
Vested			(1,554)						31.20
Forfeited			(241)						27.08
Unvested balance, March 31, 2025			3,347						31.66

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,
			2025						2024						2023
Cost of revenue			$	11,001					$	9,479					$	9,634
Research and development			19,394						11,978						12,583
Sales and marketing			26,323						16,857						16,939
General and administrative			15,668						9,116						8,678
Restructuring			—						3,646						—
Total stock-based compensation expense			$	72,386					$	51,076					$	47,834

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Tabular disclosure of share-based payment arrangement.

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