Restructuring

6 Months Ended

Sep. 30, 2024

Restructuring and Related Activities [Abstract]

Beginning in the fourth quarter of fiscal 2024, we initiated a restructuring plan intended to enhance customer satisfaction through the reorganization and redesign of our customer success functions. The realignment of the customer success structure aims to optimize operational efficiency and improve continuity for our customers through the pre-sales and post-sales experience. These charges relate primarily to severance and related costs associated with headcount reductions, stock-based compensation related to modifications of existing awards granted to certain employees impacted by the plan and office termination and exit charges. We anticipate the restructuring plan will be completed in the second half of fiscal 2025. The total costs to be incurred related to the restructuring plan cannot be estimated at this time.

There were no restructuring charges for the three and six months ended September 30, 2023. For the three and six months ended September 30, 2024, restructuring charges were comprised of the following:


	Three Months Ended September 30, 2024		Six Months Ended September 30, 2024
Employee severance and related costs	$	386	$	655
Lease exit costs (1)	—		402
Stock-based compensation	180		4,188
Total restructuring charges	$	566	$	5,245

(1) Lease exit costs relate to one office for the six months ended September 30, 2024.

Restructuring accrual

The accrual activity related to our restructuring plan for the six months ended September 30, 2024 was as follows:


	Total (1)
Balance as of March 31, 2024	$	2,746
Employee severance and related costs	655
Payments	(2,553)
Balance as of September 30, 2024	$	848

(1) During the six months ended September 30, 2024, there were no new charges incurred or payments made related to our prior restructuring plan that was completed in fiscal 2023. The amount included in the balance as of September 30, 2024 related to the completed plan was insignificant.