XML 36 R15.htm IDEA: XBRL DOCUMENT
v3.25.2

Stock Plans | 3 Months Ended
--- | ---
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Stock Plans | Stock Plans The following table presents the stock-based compensation expense included in cost of revenues, sales and marketing, research and development, general and administrative and restructuring expenses for the three months ended June 30, 2025 and 2024. Stock-based compensation is attributable to RSUs, PSUs and the ESPP.
| Three Months Ended June 30,
| 2025 |  | 2024
Cost of revenues | $ | 1,249 |  |  | $ | 1,581 |
Sales and marketing | 12,586 |  |  | 9,486 |
Research and development | 7,070 |  |  | 5,164 |
General and administrative | 9,200 |  |  | 6,165 |
Restructuring | 75 |  |  | 4,008 |
Stock-based compensation expense | $ | 30,180 |  |  | $ | 26,404 |
As of June 30, 2025, there was $179,013 of unrecognized stock-based compensation expense that is expected to be recognized over a weighted average period of 1.67 years. We account for forfeitures as they occur. To the extent that awards are forfeited, stock-based compensation will be different from our current estimate. Restricted Stock Units Restricted stock unit activity for the three months ended June 30, 2025 was as follows:
Non-vested Restricted Stock Units | Number of Awards |  | Weighted Average Grant Date Fair Value
Non-vested as of March 31, 2025 | 1,806 |  |  | $ | 111.75 |
Awarded | 432 |  |  | 185.21 |
Vested | (487) |  |  | 99.23 |
Forfeited | (29) |  |  | 115.43 |
Non-vested as of June 30, 2025 | 1,722 |  |  | $ | 133.69 |
The weighted average fair value of RSUs awarded was $185.21 and $115.60 per unit during the three months ended June 30, 2025 and 2024, respectively. The weighted average fair value of awards includes the awards with a market condition described below. Performance Based Awards In the three months ended June 30, 2025, we granted approximately 77 PSUs to certain executives. Vesting of these awards is contingent upon i) us meeting certain non-GAAP performance goals (performance-based) in fiscal 2026 and ii) our customary service periods. The awards vest over three years and have the potential to vest between 0% and 300% (231 shares) based on actual fiscal 2026 performance. The vesting quantity of these awards may vary based on actual fiscal 2026 performance. The related stock-based compensation expense is determined based on the value of the underlying shares on the date of grant and is recognized over the vesting term using the accelerated method. During the interim financial periods, management estimates the probable number of PSUs that would vest until the ultimate achievement of the performance goals is known. The awards are included in the restricted stock units table. Awards with a Market Condition In the three months ended June 30, 2025, we granted approximately 77 market PSUs to certain executives. The vesting of these awards is contingent upon us meeting certain total shareholder return ("TSR") levels as compared to the Russell 3000 market index over the succeeding three years from grant date. The awards vest in three annual tranches and have the potential to vest between 0% and 300% (231 shares) based on TSR performance. The related stock-based compensation expense is determined based on the estimated fair value of the underlying shares on the date of grant and is recognized using the accelerated method over the vesting term. The estimated fair value was calculated using a Monte Carlo simulation model. The fair value of the awards granted during the three months ended June 30, 2025 was $288.47 per unit. The awards are included in the restricted stock units table.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration