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STOCK-BASED COMPENSATION - (Tables) | 6 Months Ended
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Sep. 30, 2024
Equity [Abstract] |
Schedule of Stock-based Compensation Activity, by Award Type | The Company's stock-based compensation activity for the six months ended September 30, 2024 and 2023, by award type, was (dollars in thousands):
|  | For the six months ended
|  | September 30,
|  | 2024 |  | 2023
Stock options |  | $ | 1,639 |  |  | $ | 304 |
Restricted stock units, time-vesting |  | 43,929 |  |  | 22,175 |
Restricted stock units, performance based |  | 7,121 |  |  | 2,707 |
Habu restricted stock awards |  | 429 |  |  | — |
Acuity performance plan |  | — |  |  | 165 |
DataFleets acquisition consideration holdback |  | — |  |  | 2,267 |
Habu acquisition consideration holdback |  | 2,439 |  |  | — |
Employee stock purchase plan |  | 871 |  |  | 784 |
Directors stock-based compensation |  | 625 |  |  | 625 |
Total non-cash stock-based compensation included in the condensed consolidated statements of operations |  | 57,053 |  |  | 29,027 |
Less expense related to liability-based equity awards |  | (2,427) |  |  | (2,439) |
Total non-cash stock-based compensation included in the condensed consolidated statements of equity |  | $ | 54,626 |  |  | $ | 26,588 |
Schedule of Effect of Stock-based Compensation Expense on Income, by Financial Statement Line Item | The effect of stock-based compensation expense on income, by financial statement line item, was (dollars in thousands):
|  | For the six months ended
|  | September 30,
|  | 2024 |  | 2023
Cost of revenue |  | $ | 3,095 |  |  | $ | 1,258 |
Research and development |  | 21,125 |  |  | 10,370 |
Sales and marketing |  | 14,476 |  |  | 8,522 |
General and administrative |  | 18,357 |  |  | 8,877 |
Total non-cash stock-based compensation included in the condensed consolidated statements of operations |  | $ | 57,053 |  |  | $ | 29,027 |
Schedule of Share-based Compensation Arrangement by Share Based Payment Award, Future Expense | The following table provides the expected future expense for all of the Company's outstanding equity awards at September 30, 2024, by award type. The amount for fiscal 2025 represents the remaining six months ending March 31, 2025. All other periods represent fiscal years ending March 31 (dollars in thousands):
|  | For the years ending March 31,
|  | 2025 |  | 2026 |  | 2027 |  | 2028 |  |  |  | Total
Stock options |  | $ | 1,607 |  |  | $ | 2,331 |  |  | $ | 1,159 |  |  | $ | 95 |  |  |  |  | $ | 5,192 |
Restricted stock units |  | 48,296 |  |  | 57,482 |  |  | 32,483 |  |  | 2,885 |  |  |  |  | 141,146 |
Habu restricted stock awards |  | 423 |  |  | 272 |  |  | 6 |  |  | — |  |  |  |  | 701 |
Habu acquisition consideration holdback |  | 2,440 |  |  | 4,879 |  |  | 4,067 |  |  | — |  |  |  |  | 11,386 |
Employee stock purchase plan |  | 277 |  |  | — |  |  | — |  |  | — |  |  |  |  | 277 |
Expected future expense |  | $ | 53,043 |  |  | $ | 64,964 |  |  | $ | 37,715 |  |  | $ | 2,980 |  |  |  |  | $ | 158,702 |
Schedule of Option Activity | Stock option activity for the six months ended September 30, 2024 was:
|  |  |  |  |  | Weighted-average |  |
|  |  |  | Weighted-average |  | remaining |  | Aggregate
|  | Number of |  | exercise price |  | contractual term |  | Intrinsic value
|  | shares |  | per share |  | (in years) |  | (in thousands)
Outstanding at March 31, 2024 |  | 622,122 |  |  | $ | 14.39 |  |  |  |  |
Exercised |  | (189,313) |  |  | $ | 18.82 |  |  |  |  | $ | 2,455 |
Forfeited or canceled |  | (8,899) |  |  | $ | 9.65 |  |  |  |  |
Outstanding at September 30, 2024 |  | 423,910 |  |  | $ | 12.51 |  |  | 4.6 |  | $ | 5,202 |
Exercisable at September 30, 2024 |  | 253,335 |  |  | $ | 14.82 |  |  | 2.2 |  | $ | 2,524 |
Schedule of Stock Options Outstanding and Exercisable | A summary of stock options outstanding and exercisable as of September 30, 2024 was:
|  |  |  |  |  | Options outstanding |  | Options exercisable
Range of |  |  |  | Weighted-average |  | Weighted-average |  |  |  | Weighted-average
exercise price |  | Options |  | remaining |  | exercise price |  | Options |  | exercise price
per share |  | outstanding |  | contractual life |  | per share |  | exercisable |  | per share
$ | — |  |  | — |  | $ | 9.99 |  |  | 232,108 |  |  | 7.8 years |  | $ | 8.24 |  |  | 61,533 |  |  | $ | 5.91 |
$ | 10.00 |  |  | — |  | $ | 19.99 |  |  | 182,603 |  |  | 0.6 years |  | $ | 17.49 |  |  | 182,603 |  |  | $ | 17.49 |
$ | 20.00 |  |  | — |  | $ | 24.99 |  |  | 9,199 |  |  | 1.7 years |  | $ | 21.32 |  |  | 9,199 |  |  | $ | 21.32 |
|  |  |  |  |  | 423,910 |  |  | 4.6 years |  | $ | 12.51 |  |  | 253,335 |  |  | $ | 14.82 |
Schedule of Changes in Restricted Stock | Habu restricted stock share activity for the six months ended September 30, 2024 was:
|  |  |  | Weighted average |  |
|  |  |  | fair value per |  | Weighted average
|  | Number |  | share at grant |  | remaining contractual
|  | of shares |  | date |  | term (in years)
Unvested restricted stock awards at March 31, 2024 |  | 36,118 |  |  | $ | 39.48 |  |  | 1.3
Vested |  | (16,305) |  |  | $ | 39.48 |  |  |
Unvested restricted stock awards at September 30, 2024 |  | 19,813 |  |  | $ | 39.48 |  |  | 0.9
Schedule of Time-vesting Restricted Stock Unit Activity | RSU activity for the six months ended September 30, 2024 was:
|  |  |  | Weighted-average |  |
|  |  |  | fair value per |  | Weighted-average
|  | Number |  | share at grant |  | remaining contractual
|  | of shares |  | date |  | term (in years)
Outstanding at March 31, 2024 |  | 4,401,513 |  |  | $ | 31.10 |  |  | 1.64
Granted |  | 1,801,372 |  |  | $ | 32.10 |  |  |
Vested |  | (1,539,030) |  |  | $ | 29.49 |  |  |
Forfeited or canceled |  | (321,646) |  |  | $ | 31.89 |  |  |
Outstanding at September 30, 2024 |  | 4,342,209 |  |  | $ | 32.03 |  |  | 1.86
Schedule of Non-vested Performance-based Restricted Stock Units Activity | PSU activity for the six months ended September 30, 2024 was:
|  |  |  | Weighted-average |  |
|  |  |  | fair value per |  | Weighted-average
|  | Number |  | share at grant |  | remaining contractual
|  | of shares |  | date |  | term (in years)
Outstanding at March 31, 2024 |  | 1,095,748 |  |  | $ | 31.15 |  |  | 1.61
Granted |  | 429,857 |  |  | $ | 36.14 |  |  |
Vested |  | (29,939) |  |  | $ | 55.65 |  |  |
Forfeited or canceled |  | (59,545) |  |  | $ | 51.21 |  |  |
Outstanding at September 30, 2024 |  | 1,436,121 |  |  | $ | 31.30 |  |  | 1.62

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