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Stock-Based Compensation (Tables) | 12 Months Ended
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Mar. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule 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, 2023 |  | 6,950,436 |  |  | $ | 12.73 |  |  | 6.12 |  | $ | 45,689 |
Granted |  | 602,491 |  |  | 12.66 |  |  |  |  |
Exercised |  | (1,223,630) |  |  | 3.24 |  |  |  |  |
Forfeited / Expired |  | (531,428) |  |  | 27.42 |  |  |  |  |
Options outstanding as of March 31, 2024 |  | 5,797,869 |  |  | $ | 13.26 |  |  | 5.39 |  | $ | 2,423 |
Exercisable as of March 31, 2024 |  | 4,779,833 |  |  | $ | 11.64 |  |  | 4.70 |  | $ | 2,423 |
Schedule of RSU, PSU and RSA Activity | The following table summarizes RSU, PSU, and RSA activity:
|  | Number of Shares |  | Weighted-Average Grant Date Fair Value
Unvested restricted shares outstanding as of March 31, 2023 |  | 1,670,589 |  |  | $ | 24.96 |
Granted |  | 4,565,093 |  |  | 9.92 |
Vested |  | (1,723,149) |  |  | 15.93 |
Forfeited |  | (592,691) |  |  | 14.53 |
Unvested restricted shares outstanding as of March 31, 2024 |  | 3,919,842 |  |  | $ | 12.44 |
Schedule of Market-based Assumptions | The assumptions utilized in this model during fiscal years 2024, 2023, and 2022 are presented below.
|  | Year ended March 31,
|  | 2024 |  | 2023 |  | 2022
Risk-free interest rate |  | 3.82% to 4.29% |  | 2.71% to 4.38% |  | 0.63% to 1.77%
Expected life of the options (years) |  | 4.70 to 4.72 |  | 5.27 to 5.33 |  | 4.82 to 5.27
Expected volatility |  | 88% to 88% |  | 72% to 80% |  | 72% to 72%
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,
|  | 2024 |  | 2023 |  | 2022
Total fair value of options vested |  | $ | 12,334 |  |  | $ | 15,375 |  |  | $ | 11,495 |
Total intrinsic value of options exercised |  | $ | 6,441 |  |  | $ | 16,909 |  |  | $ | 68,163 |

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