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Stock-Based Compensation | 9 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation | Stock-Based Compensation The following table summarizes stock-based compensation expense recognized in the condensed consolidated statements of operations:
| Three Months Ended December 31, |  | Nine Months Ended December 31,
| 2024 |  | 2023 |  | 2024 |  | 2023
Cost of revenue | $ | 9,115 |  |  | $ | 9,348 |  |  | $ | 25,938 |  |  | $ | 26,300 |
General and administrative expenses | 16,003 |  |  | 14,419 |  |  | 44,892 |  |  | 34,977 |
Total | $ | 25,118 |  |  | $ | 23,767 |  |  | $ | 70,830 |  |  | $ | 61,277 |
The following table summarizes the total stock-based compensation expense recognized in the condensed consolidated statements of operations by the following types of equity awards, including stock options, time-based and performance-based restricted stock awards. Compensation expense for performance-based awards is estimated at each reporting date using management's expectation of the probable achievement of the specified performance criteria of each tranche during the respective performance periods:
| Three Months Ended December 31, |  | Nine Months Ended December 31,
| 2024 |  | 2023 |  | 2024 |  | 2023
Equity Incentive Plan Options | $ | 221 |  |  | $ | 297 |  |  | $ | 731 |  |  | $ | 991 |
Restricted Stock and other awards | 24,897 |  |  | 23,470 |  |  | 70,099 |  |  | 60,286 |
Total | $ | 25,118 |  |  | $ | 23,767 |  |  | $ | 70,830 |  |  | $ | 61,277 |
As of December 31, 2024, there was $92.1 million of total unrecognized compensation cost related to unvested stock-based compensation agreements. Absent the effect of forfeiture or acceleration of stock compensation cost for any departures of employees, the following table summarizes the unrecognized compensation cost and the weighted-average period the cost is expected to be amortized (excludes any future award):
|  | December 31, 2024
|  | Unrecognized Compensation Cost |  | Weighted Average Remaining Period to be Recognized (in years)
Equity Incentive Plan Options |  | $ | 1,514 |  |  | 3.10
Restricted Stock Awards |  | 90,634 |  |  | 1.78
Total |  | $ | 92,148 |  |  |
Equity Incentive Plan During the nine months ended December 31, 2024, the Board of Directors granted 0.6 million time-based and performance-based restricted stock units to certain employees of the Company. The aggregate value of these awards was $97.1 million based on the grant date fair value. The performance-based awards granted during the nine months ended December 31, 2024 included additional market conditions related to the Company’s total shareholder return relative to its peer group over the three-year performance period. The Company recognizes compensation expense for these performance-based awards with market conditions based on the grant-date fair value calculated using a Monte Carlo model.

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