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Business Combination (Tables) | 9 Months Ended
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Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Purchase Price and Purchase Price Allocation | The following table summarizes the purchase price and preliminary purchase price allocation as of the date of acquisition:
Purchase price allocation: |
Cash consideration | $ | 21,032 |
Fair value of unregistered restricted stock units | 4,900 |
Fair value of contingent consideration | 340 |
Total purchase price | $ | 26,272 |
Assets acquired and liabilities assumed: |
Cash | $ | 32 |
Trade accounts receivable | 239 |
Developed technology | 5,300 |
Accrued liabilities | (36) |
Deferred revenue | (98) |
Deferred tax liability | (1,457) |
Total identifiable net assets acquired and liabilities assumed | 3,980 |
Goodwill | 22,292 |
Total purchase price | $ | 26,272 |
The following table summarizes the preliminary purchase price allocation as of the date of acquisition:
Assets acquired and liabilities assumed: |
Trade accounts receivable | $ | 1,161 |
Other current assets | 394 |
Deferred tax asset | 377 |
Intangible assets | 18,100 |
Accounts payable and accrued liabilities | (3,087) |
Deferred revenue | (8,370) |
Total identifiable net assets acquired and liabilities assumed | 8,575 |
Goodwill | 36,334 |
Total purchase price | $ | 44,909 |
Schedule of Pro Forma Information | The following unaudited pro forma results of operations have been prepared using the acquisition method of accounting to give effect to the Appranix and Clumio acquisitions as though they occurred on April 1, 2023. The pro forma amounts reflect certain adjustments, such as expenses related to the noncash amortization of intangible assets, stock-based compensation, and acquisition-related costs. The fiscal 2025 supplemental pro forma net income was adjusted to exclude $2,340 of acquisition-related costs and $2,486 of expense related to changes in the estimated fair value of contingent consideration incurred in fiscal 2025. The fiscal 2024 supplemental pro forma net income was adjusted to include these charges. In addition, both periods include noncash amortization expenses related to intangible assets and stock-based compensation as if the acquisitions had taken place on April 1, 2023. The unaudited pro forma financial information is presented for illustrative purposes only, is based on a purchase price allocation, and is not necessarily indicative of the results of operations that would have actually been reported had the acquisitions occurred on April 1, 2023, nor is it necessarily indicative of the future results of operations of the combined companies.
| Unaudited
| Three Months Ended December 31, |  | Nine Months Ended December 31,
| 2024 |  | 2023 |  | 2024 |  | 2023
Revenue | $ | 262,630 |  |  | $ | 222,022 |  |  | $ | 733,599 |  |  | $ | 629,574 |
Net income | $ | 13,922 |  |  | $ | 3,257 |  |  | $ | 23,877 |  |  | $ | 6,408 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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