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Equity (Tables)

9 Months Ended

Dec. 31, 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):

			December 31, 2024
Common stock warrants			315
2010 Plan
Options outstanding			11,805
2021 Plan
Awards outstanding			4,060
Shares available for future grant			40,431
2021 ESPP			9,812
Options outstanding outside the plans			2,638
Total			69,061

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			(2,941)						3.90
Options forfeited or expired			(96)						7.30
Balance, December 31, 2024			14,443						4.73						5.09						702,867
Vested and exercisable as of December 31, 2024			10,925						3.74						4.76						542,383
Vested and expected to vest as of December 31, 2024			14,443						4.73						5.09						702,867

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			2,905						27.66
Vested			(1,167)						31.25
Forfeited			(162)						27.12
Unvested balance, December 31, 2024			3,669						30.04

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,
			2024						2023						2024						2023
Cost of revenue			$	2,818					$	2,466					$	8,373					$	7,205
Research and development			4,471						3,080						14,602						8,874
Sales and marketing			6,487						4,060						19,881						12,752
General and administrative			5,592						2,165						11,470						6,742
Restructuring			—						—						—						3,646
Total stock-based compensation expense			$	19,368					$	11,771					$	54,326					$	39,219

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