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Fair Value Measurements (Tables)

9 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring Basis

The following tables present the fair value hierarchy for the Company’s assets and liabilities measured at fair value on a recurring basis (in thousands):

			As of December 31, 2024
			Level 1						Level 2						Level 3						Total
Cash equivalents:
Commercial paper			$	—					$	24,405					$	—					$	24,405
Money market funds			129,279						—						—						129,279
Total cash equivalents			129,279						24,405						—						153,684
Marketable securities:
Commercial paper			—						41,486						—						41,486
Corporate notes and bonds			—						446,763						—						446,763
U.S. government and agency securities			188,406						3,015						—						191,421
Total marketable securities			188,406						491,264						—						679,670
Total cash equivalents and marketable securities			$	317,685					$	515,669					$	—					$	833,354
Liabilities:
Contingent earn-out consideration liability			$	—					$	—					$	11,326					$	11,326
Total contingent earn-out consideration liability			$	—					$	—					$	11,326					$	11,326

			As of March 31, 2024
			Level 1						Level 2						Level 3						Total
Cash equivalents:
Corporate notes and bonds			$	—					$	1,180					$	—					$	1,180
Money market funds			83,049						—						—						83,049
Total cash equivalents			83,049						1,180						—						84,229
Marketable securities:
Asset-backed securities			—						121						—						121
Commercial paper			—						70,755						—						70,755
Corporate notes and bonds			—						225,822						—						225,822
Sovereign bonds			—						7,676						—						7,676
U.S. government and agency securities			355,804						5,937						—						361,741
Total marketable securities			355,804						310,311						—						666,115
Total cash equivalents and marketable securities			$	438,853					$	311,491					$	—					$	750,344
Liabilities:
Contingent earn-out consideration liability			$	—					$	—					$	16,813					$	16,813
Total contingent earn-out consideration liability			$	—					$	—					$	16,813					$	16,813

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table summarizes the changes in the contingent earn-out consideration liability (in thousands):

			Nine Months Ended December 31,
			2024						2023
Beginning fair value			$	16,813					$	21,862
Additions in the period			—						—
Change in fair value			513						768
Payments			(6,000)						(6,000)
Ending fair value			$	11,326					$	16,630

X

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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X

- References

No definition available.

+ Details

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X

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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