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Goodwill and Intangible Assets, Net | 9 Months Ended
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Dec. 31, 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 nine months ended December 31, 2024 and 2023. Approximately $35,233 of the goodwill recorded is expected to be deductible for income tax purposes. Changes in goodwill during the nine months ended December 31, 2024 were as follows:
|  | Total
Balance as of March 31, 2024 |  | $ | 127,780 |
Additions |  | 58,626 |
Impairments |  | — |
Balance as of December 31, 2024 |  | $ | 186,406 |
Intangible Assets, Net Intangible assets consist of developed technology and customer relationships. 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. Customer relationships purchased in fiscal 2025 were valued using the distributor method and have an estimated useful life of ten years. All of our intangible assets are amortized on a straight-line basis. Purchased intangible assets, net of amortization, are summarized below:
| December 31, 2024 |  | March 31, 2024
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Value |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Value
Customer relationships | $ | 3,800 |  |  | $ | (95) |  |  | $ | 3,705 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Developed technology | 23,350 |  |  | (5,143) |  |  | 18,207 |  |  | 3,750 |  |  | (2,708) |  |  | 1,042 |
Total intangible assets | $ | 27,150 |  |  | $ | (5,238) |  |  | $ | 21,912 |  |  | $ | 3,750 |  |  | $ | (2,708) |  |  | $ | 1,042 |
During the nine months ended December 31, 2024, we acquired developed technology valued at $19,600 and customer relationships valued at $3,800 as part of the acquisitions of Appranix and Clumio. Amortization expense from acquired intangible assets was $1,383 and $2,529 for the three and nine months ended December 31, 2024, respectively, and $312 and $938 for the three and nine months ended December 31, 2023, respectively. As of December 31, 2024, future amortization expense associated with intangible assets with finite lives is expected to be:
Year ending March 31, |  |
2025 (remaining) |  | $ | 1,174 |
2026 |  | 4,283 |
2027 |  | 4,283 |
2028 |  | 4,283 |
2029 |  | 4,283 |
Thereafter |  | 3,606 |
Total |  | $ | 21,912 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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