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Segment Information | 12 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Segment Information | 14. Segment Information Operating segments represent components of an entity for which discrete financial information is available to the entity’s chief operating decision maker (“CODM”). Our Chief Executive Officer is our CODM. We operate as a single reporting segment providing software solutions to the global hospitality industry as our CODM reviews the financial information presented on a consolidated basis to allocate resources, assess financial performance, and make operating decisions. During our budgeting and forecasting process, our CODM allocates resources including employees, equipment and financial resources. Our CODM regularly considers forecast-to-actual variances to assess financial performance and to make operating decisions around product development, pricing, employee compensation, and for investments in information security and technology infrastructure, and in market development. The Company’s measure of segment profit or loss is net income as shown in our Consolidated Statements of Operations. Our CODM reviews segment assets, reported as total assets on our consolidated balance sheets, and capital expenditures, as reported on our consolidated statements of cash flows. The segment accounting policies are the same as those we describe in Note 2, Summary of Significant Accounting Policies, except that certain expense allocations we make for presentation of Cost of Goods Sold as reported in our Consolidated Statements of Operations in accordance with U.S. GAAP, primarily for employee compensation, are not applied to cost of revenue as reported in the table below. The significant expense categories and consolidated net income provided to the CODM for the years ended March 31, 2025, 2024, and 2023 are as follows:
|  | Year Ended March 31, |
(In thousands) |  | 2025 |  |  | 2024 |  |  | 2023 |
Net revenue: |  |  |  |  |  |  |  |  |
Products |  | $ | 41,324 |  |  | $ | 49,083 |  |  | $ | 43,638 |
Subscription and maintenance |  |  | 170,051 |  |  |  | 138,069 |  |  |  | 118,285 |
Professional services |  |  | 64,249 |  |  |  | 50,312 |  |  |  | 36,142 |
Total net revenue |  |  | 275,624 |  |  |  | 237,464 |  |  |  | 198,065 |
Cost of revenue (1) |  |  | 46,016 |  |  |  | 46,183 |  |  |  | 40,019 |
Product development expenses (1) |  |  | 60,177 |  |  |  | 53,825 |  |  |  | 43,848 |
Sales and marketing expenses (1) |  |  | 31,491 |  |  |  | 27,588 |  |  |  | 21,674 |
Professional services expenses (1) |  |  | 34,130 |  |  |  | 28,611 |  |  |  | 24,302 |
Customer support expenses (1) |  |  | 14,604 |  |  |  | 13,120 |  |  |  | 10,981 |
General and administrative expenses (1) |  |  | 35,336 |  |  |  | 30,862 |  |  |  | 27,092 |
Share-based compensation |  |  | 17,777 |  |  |  | 14,113 |  |  |  | 12,959 |
Other segment items (2) |  |  | 12,868 |  |  |  | (63,033 | ) |  |  | 2,608 |
Net income |  | $ | 23,225 |  |  | $ | 86,195 |  |  | $ | 14,582 |
(1) |  | Exclusive of share-based compensation shown separately
(2) |  | Other segment items include depreciation, amortization of internal-use software and intangibles, legal settlements, interest income and expense, other non-operating income and expense, income tax provision and benefit, and other gains and charges
The following table lists long-lived assets by geographical area, which includes property and equipment, net and operating lease right-of-use assets for the years ended March 31, 2025, 2024, and 2023:
|  | Year Ended March 31, |
(In thousands) |  | 2025 |  |  | 2024 |  |  | 2023 |
United States |  | $ | 18,618 |  |  | $ | 20,583 |  |  | $ | 20,163 |
India |  |  | 14,150 |  |  |  | 14,917 |  |  |  | 6,161 |
Rest of world (1) |  |  | 1,064 |  |  |  | 814 |  |  |  | 960 |
Total long-lived assets |  | $ | 33,832 |  |  | $ | 36,314 |  |  | $ | 27,284 |
(1) |  | No individual country other than the United States and India exceeded 10% of our total long-lived assets for any period presented

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- Definition The entire disclosure for reporting segments including data and tables. 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