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FAIR VALUE MEASUREMENTS
 3 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
Cash, cash equivalents, restricted cash, and available-for-sale investments were as follows (in thousands):
As of June 30, 2020
 
Amortized Costs
 
Gross
Unrealized Gain
 
Gross
Unrealized Loss
 
Estimated Fair Value
 
Cash and
Cash Equivalents
 
Restricted Cash (Current & Non-Current)
 
Short-Term Investments
 
Long-Term Investments
Cash
 
$
34,028

 
$
—

 
$
—

 
$
34,028

 
$
23,652

 
$
10,376

 
$
—

 
$
—

Level 1:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Money market funds
 
88,638

 
—

 
—

 
88,638

 
88,638

 
—

 
—

 
—

Treasury securities
 
11,686

 
89

 
—

 
11,775

 
—

 
—

 
11,775

 
—

     Subtotal
 
134,352

 
89

 
—

 
134,441

 
112,290

 
10,376

 
11,775

 
—

Level 2:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Certificate of deposit
 
8,641

 
—

 
—

 
8,641

 
—

 
8,641

 
—

 
—

Commercial paper
 
9,395

 
1

 
—

 
9,396

 
4,400

 
—

 
4,996

 
—

Corporate debt
 
33,629

 
152

 
(7
)
 
33,774

 
—

 
—

 
23,809

 
9,965

     Subtotal
 
51,665

 
153

 
(7
)
 
51,811

 
4,400

 
8,641

 
28,805

 
9,965

     Total assets
 
$
186,017

 
$
242

 
$
(7
)
 
$
186,252

 
$
116,690

 
$
19,017

 
$
40,580

 
$
9,965

As of March 31, 2020
 
Amortized Costs
 
Gross
Unrealized Gain
 
Gross
Unrealized Loss
 
Estimated Fair Value
 
Cash and
Cash Equivalents
 
Restricted Cash (Current & Non-Current)
 
Short-Term Investments
 
Long-Term Investments
Cash
 
$
31,378

 
$
—

 
$
—

 
$
31,378

 
$
21,002

 
$
10,376

 
$
—

 
$
—

Level 1:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Money market funds
 
110,796

 
—

 
—

 
110,796

 
110,796

 
—

 
—

 
—

Treasury securities
 
6,192

 
116

 
—

 
6,308

 
—

 
—

 
—

 
6,308

     Subtotal
 
148,366

 
116

 
—

 
148,482

 
131,798

 
10,376

 
—

 
6,308

Level 2:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Certificate of deposit
 
8,641

 
—

 
—

 
8,641

 
—

 
8,641

 
—

 
—

Commercial paper
 
14,979

 
6

 
—

 
14,985

 
5,596

 
—

 
9,389

 
—

Corporate debt
 
34,153

 
32

 
(341
)
 
33,844

 
—

 
—

 
24,069

 
9,775

     Subtotal
 
57,773

 
38

 
(341
)
 
57,470

 
5,596

 
8,641

 
33,458

 
9,775

     Total assets
 
$
206,139

 
$
154

 
$
(341
)
 
$
205,952

 
$
137,394

 
$
19,017

 
$
33,458

 
$
16,083


Certificate of deposit represents the Company's letter of credits securing leases for office facilities, and the balance of which is included in restricted cash, non-current in the Company's condensed consolidated balance sheet.
The Company considers its investments as available to support its current operations, and it has classified all investments as available-for-sale securities. As of June 30, 2020, for investments that were in unrealized loss positions, the Company does not have the intent to sell any of these investments, and has determined that it is not more likely than not that it will be required to sell any of these investments before recovery of the entire amortized cost basis.
The Company regularly reviews the changes to the rating of its securities at the individual security level by rating agencies as well as reasonably monitors the surrounding economic conditions to assess the risk of expected credit losses. As of June 30, 2020, the Company did not have any risk of expected credit losses.
As of June 30, 2020, the estimated fair value of the Company's outstanding convertible senior notes (the "Notes") was $326.3 million, which was determined based on the closing price for the Notes on the last trading day of the reporting period and is considered to be Level 2 in the fair value hierarchy due to limited trading activity of the Notes.