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CASH, CASH EQUIVALENTS, MARKETABLE SECURITIES AND INVESTMENTS
 6 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
CASH, CASH EQUIVALENTS, MARKETABLE SECURITIES AND INVESTMENTS CASH, CASH EQUIVALENTS, MARKETABLE SECURITIES AND INVESTMENTS
The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents and those investments with original maturities greater than three months to be marketable securities. Cash and cash equivalents mainly consisted of U.S. government and municipal obligations, commercial paper, money market instruments and cash maintained with various financial institutions at September 30, 2024 and March 31, 2024.
Marketable Securities
The following is a summary of marketable securities held by NetScout at September 30, 2024, classified as short-term and long-term (in thousands):
Amortized
Cost		Unrealized
Gains (Losses)		Fair
Value
Type of security:
U.S. government and municipal obligations$5,038 $(1)$5,037 
Commercial paper11,617 — 11,617 
Certificates of deposit1,031 — 1,031 
Total short-term marketable securities17,686 (1)17,685 
U.S. government and municipal obligations1,005 4 1,009 
Total long-term marketable securities1,005 4 1,009 
Total marketable securities$18,691 $3 $18,694 
The following is a summary of marketable securities held by NetScout at March 31, 2024, classified as short-term and long-term (in thousands):
Amortized
Cost		Unrealized
Losses		Fair
Value
Type of security:
U.S. government and municipal obligations$10,523 $(26)$10,497 
Commercial paper8,648 — 8,648 
Certificates of deposit2,807 — 2,807 
Total short-term marketable securities21,978 (26)21,952 
U.S. government and municipal obligations1,004 (10)994 
Total long-term marketable securities1,004 (10)994 
Total marketable securities$22,982 $(36)$22,946 
Contractual maturities of the Company's marketable securities held at September 30, 2024 and March 31, 2024 were as follows (in thousands):
September 30,
2024		March 31,
2024
Available-for-sale securities:
Due in 1 year or less$17,685 $21,952 
Due after 1 year through 5 years1,009 994 
$18,694 $22,946 
Investments
In February 2023, the Company entered into a forward share purchase agreement with Napatech A/S (Napatech), a publicly traded Danish company registered on the Oslo stock exchange, to purchase approximately 6.2 million shares of Napatech's common stock for $7.5 million. In April 2023, the Company settled the forward share purchase contract with Napatech in exchange for approximately 6.2 million shares of Napatech's common stock and recorded a $0.2 million change in the fair value of the derivative instrument in other income (expense), net within the Company's consolidated statement of operations during the six months ended September 30, 2023. As part of the agreement, the Company received the right to designate a representative to be nominated for election to the Napatech Board of Directors, which was approved by Napatech's Nomination Committee in April 2023. The Company accounts for this investment under the equity method and has elected to apply the fair value option to the investment. The Company records the investment at fair value at the end of each period based on the closing price of Napatech's stock and any change in fair value during the period is recorded in other income (expense), net within the Company's consolidated statement of operations. At September 30, 2024 and March 31, 2024, the fair value of the investment in Napatech was $19.8 million and $11.5 million, respectively, and was included in marketable securities and investments in the Company's consolidated balance sheet. During the six months ended September 30, 2024 and 2023, the Company recognized a $7.6 million increase and a $0.1 million increase, respectively, in the fair value of the equity investment
in Napatech in other income (expense), net within the Company's consolidated statement of operations. For the six months ended September 30, 2024, the unrealized gain related to foreign currency translation on the equity investment in Napatech was $0.7 million. For the six months ended September 30, 2023, the unrealized loss related to foreign currency translation on the equity investment in Napatech was immaterial.