Goodwill and Intangible Assets, Net

6 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

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 the integration of acquired technology into current product offerings, the 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, 2025 and 2024. Approximately $35,033 of the goodwill recorded is expected to be deductible for income tax purposes.

Changes in goodwill during the six months ended September 30, 2025 were as follows:


	Total
Balance as of March 31, 2025	$	185,255
Additions	25,061
Balance as of September 30, 2025	$	210,316

Intangible Assets, Net

Intangible assets consist of developed technology and customer relationships. Developed technology acquired in fiscal 2026 and 2025 has an estimated useful life of five years. Previously acquired developed technology had an estimated useful life of three years, and was fully amortized as of the end of fiscal 2025. Customer relationships acquired in fiscal 2025 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:


	September 30, 2025						March 31, 2025
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value		Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
Customer relationships	$	3,800	$	(380)	$	3,420	$	3,800	$	(190)	$	3,610
Developed technology	27,050		(8,244)		18,806		23,350		(6,223)		17,127
Total intangible assets	$	30,850	$	(8,624)	$	22,226	$	27,150	$	(6,413)	$	20,737

During the six months ended September 30, 2025, we acquired developed technology valued at $3,700 as part of the acquisition of Satori. Amortization expense from acquired intangible assets was $1,140 and $2,211 for the three and six months ended September 30, 2025, respectively, and $573 and $1,146 for the three and six months ended September 30, 2024, respectively.

As of September 30, 2025, future amortization expense associated with intangible assets with finite lives is expected to be:


Year ending March 31,
2026 (remaining)	$	2,511
2027	5,023
2028	5,023
2029	5,023
2030	2,637
Thereafter	2,009
Total	$	22,226