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Goodwill and Intangible Assets, Net
 6 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets, Net Goodwill and Intangible Assets, Net
Goodwill
Goodwill represents the residual purchase price paid in business combinations after the fair value of all identified assets and liabilities have been recorded. It includes the estimated value of potential expansion with new customers, the opportunity to further develop sales relationships with new customers and intangible assets that do not qualify for separate recognition. Goodwill is not amortized and there were no impairments to the carrying amounts of goodwill during the six months ended September 30, 2024 and 2023. None of the goodwill recorded is expected to be deductible for income tax purposes.
Changes in goodwill during the six months ended September 30, 2024 were as follows:
Total
Balance as of March 31, 2024$127,780 
Additions22,292 
Impairments— 
Balance as of September 30, 2024
$150,072 
Intangible Assets, Net
Intangible assets consist of developed technology. Developed technology acquired in fiscal 2025 was valued using the multi-period excess earnings method and has an estimated useful life of five years. Previously acquired developed technology was valued using the replacement cost method, has an estimated useful life of three years, and will be fully amortized within fiscal 2025. All of our intangible assets are amortized on a straight-line basis. Purchased intangible assets, net of amortization are summarized below:
September 30, 2024March 31, 2024
Gross Carrying AmountAccumulated AmortizationNet Carrying ValueGross Carrying AmountAccumulated AmortizationNet Carrying Value
Developed technology$9,050 $(3,854)$5,196 $3,750 $(2,708)$1,042 
During the six months ended September 30, 2024, we acquired developed technology valued at $5,300 as part of the acquisition of Appranix. Amortization expense from acquired intangible assets was $573 and $1,146 for the three and six months ended September 30, 2024, respectively, and $312 and $626 for the three and six months ended September 30, 2023, respectively.
As of September 30, 2024, future amortization expense associated with intangible assets with finite lives is expected to be:
Year ending March 31,
2025 (remaining)$938 
20261,043 
20271,043 
20281,043 
20291,043 
Thereafter86 
Total$5,196