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Stock-Based Compensation (Tables) | 12 Months Ended
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Mar. 31, 2022
Share-based Payment Arrangement [Abstract] |
Summary of Stock Option Activity | The following table summarizes stock option activity:
|  | Number of Shares |  | Weighted-Average Exercise Price (per share) |  | Weighted-Average Remaining Contractual Life (in years) |  | Aggregate Intrinsic Value (in thousands)
Options outstanding as of March 31, 2021 |  | 8,146,445 |  |  | $ | 4.01 |  |  | 6.86 |  | $ | 622,249 |
Granted |  | 691,957 |  |  | 70.67 |  |  |  |  |
Exercised |  | (1,312,460) |  |  | 3.28 |  |  |  |  |
Forfeited / Expired |  | (402,642) |  |  | 26.55 |  |  |  |  |
Options outstanding as of March 31, 2022 |  | 7,123,300 |  |  | $ | 9.33 |  |  | 6.11 |  | $ | 262,419 |
Exercisable as of March 31, 2022 |  | 5,714,938 |  |  | $ | 4.93 |  |  | 5.56 |  | $ | 227,050 |
Summary of RSU Activity | The following table summarizes restricted stock unit ("RSU") and restricted stock award ("RSA") activity:
|  | Number of Shares |  | Weighted-Average Grant Date Fair Value
Unvested restricted shares outstanding as of March 31, 2021 |  | 333,544 |  |  | $ | 4.55 |
Granted |  | 388,405 |  |  | 39.71 |
Vested |  | (319,356) |  |  | 4.94 |
Forfeited |  | (29,292) |  |  | 49.68 |
Unvested restricted shares outstanding as of March 31, 2022 |  | 373,301 |  |  | $ | 35.82 |
Schedule of Market-based Assumptions | The assumptions utilized in this model during fiscal years 2022, 2021, and 2020 are presented below.
|  | Year ended March 31,
|  | 2022 |  | 2021 |  | 2020
Risk-free interest rate |  | 0.63% to 1.77% |  | 0.21% to 0.66% |  | 0.64% to 2.25%
Expected life of the options |  | 4.82 to 5.27 years |  | 4.93 to 5.23 years |  | 5.02 to 9.83 years
Expected volatility |  | 72% to 72% |  | 64% to 72% |  | 64% to 66%
Expected dividend yield |  | —% |  | —% |  | —%
Schedule of Intrinsic Value of Stock Option | Total fair value of options vested and total intrinsic value of options exercised was as follows for the fiscal years presented:
|  | Year ended March 31,
|  | 2022 |  | 2021 |  | 2020
Total fair value of options vested |  | $ | 11,495 |  |  | $ | 4,816 |  |  | $ | 2,577 |
Total intrinsic value of options exercised (a) |  | $ | 68,163 |  |  | $ | 97,603 |  |  | $ | 10,890 |
(a) The total intrinsic value of options exercised represents the total pre-tax intrinsic value (the difference between the stock price at exercise and the exercise price multiplied by the number of options exercised) that was received by the option holders who exercised their options during the fiscal year.

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the total intrinsic value of options exercised (or share units converted), share-based liabilities paid, and the total fair value of shares vested during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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