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CASH, CASH EQUIVALENTS, MARKETABLE SECURITIES AND INVESTMENTS
 3 Months Ended
Jun. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
CASH, CASH EQUIVALENTS, MARKETABLE SECURITIES AND INVESTMENTS
NOTE 5 – 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 June 30, 2025 and March 31, 2025.
Marketable Securities
The following is a summary of marketable securities held by NetScout at June 30, 2025, classified as short-term and long-term (in thousands):
Amortized
Cost		Unrealized
(Losses) Gains		Fair
Value
Type of security:
U.S. government and municipal obligations$5,957 $(1)$5,956 
Commercial paper18,525 — 18,525 
Corporate bonds997 (1)996 
Certificates of deposit1,263 — 1,263 
Agency bonds 955 — 955 
Total short-term marketable securities27,697 (2)27,695 
U.S. government and municipal obligations976 2 978 
Corporate bonds 10,019 — 10,019 
Total long-term marketable securities10,995 2 10,997 
Total marketable securities$38,692 $— $38,692 
The following is a summary of marketable securities held by NetScout at March 31, 2025, 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$4,413 $1 $4,414 
Commercial paper17,358 — 17,358 
Certificates of deposit505 — 505 
Total short-term marketable securities22,276 1 22,277 
U.S. government and municipal obligations1,005 (1)1,004 
Total long-term marketable securities1,005 (1)1,004 
Total marketable securities$23,281 $— $23,281 
Contractual maturities of the Company's marketable securities held at June 30, 2025 and March 31, 2025 were as follows (in thousands):
June 30,
2025		March 31,
2025
Available-for-sale securities:
Due in 1 year or less$27,695 $22,277 
Due after 1 year through 5 years10,997 1,004 
$38,692 $23,281 
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 three months ended June 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. Subsequently in April 2025, the Company's representative to the Napatech Board resigned. As a result, the Company no longer holds a Board seat. 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 June 30, 2025 and March 31, 2025, the fair value of the investment in Napatech was $15.2 million and $11.8 million, respectively, and was included in marketable securities and investments in the Company's consolidated balance sheet. During the three months ended June 30, 2025 and 2024, the Company recognized a $2.5 million gain and an $8.8 million gain, respectively, due to changes 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 three months ended June 30, 2025, the unrealized gain related to foreign currency translation on the equity investment in Napatech was $1.0 million. For the three months ended June 30, 2024, the unrealized gain related to foreign currency translation on the equity investment in Napatech was immaterial.