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STOCK-BASED COMPENSATION (Tables) | 6 Months Ended
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Sep. 30, 2021
Share-based Payment Arrangement [Abstract] |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs | The following table presents stock-based compensation expense:
|  | Three Months Ended September 30, |  | Six Months Ended September 30,
|  | 2021 |  | 2020 |  | 2021 |  | 2020
Cost of service revenue |  | $ | 2,345 |  |  | $ | 2,410 |  |  | $ | 4,313 |  |  | $ | 4,224 |
Cost of other revenue |  | 1,203 |  |  | 1,113 |  |  | 2,274 |  |  | 1,900 |
Research and development |  | 9,458 |  |  | 8,255 |  |  | 18,156 |  |  | 14,800 |
Sales and marketing |  | 12,724 |  |  | 7,054 |  |  | 27,050 |  |  | 12,793 |
General and administrative |  | 10,105 |  |  | 6,490 |  |  | 20,629 |  |  | 14,384 |
Total |  | $ | 35,835 |  |  | $ | 25,322 |  |  | $ | 72,422 |  |  | $ | 48,101 |
Schedule of Stock Option Activity | The following table presents stock option activity (shares in thousands):
|  | Number of Shares |  | Weighted Average Exercise Price Per Share |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding at March 31, 2021 |  | 1,813 |  |  | $ | 9.46 |  |  | 2.86 years |  | $ | 41,673 |
Granted |  | — |  |  | — |  |  |  |  |
Exercised |  | (640) |  |  | 8.60 |  |  |  |  |
Cancelled/Forfeited |  | (18) |  |  | 21.94 |  |  |  |  |
Outstanding at September 30, 2021 |  | 1,155 |  |  | $ | 9.74 |  |  | 2.70 years |  | $ | 15,770 |
Vested and expected to vest at September 30, 2021 |  | 1,155 |  |  | $ | 9.73 |  |  | 2.70 years |  | $ | 15,766 |
Exercisable at September 30, 2021 |  | 1,136 |  |  | $ | 9.57 |  |  | 2.63 years |  | $ | 15,697 |
Schedule of Nonvested Restricted Stock Units Activity | The following table presents RSU activity (shares in thousands):
|  | Number of Shares |  | Weighted Average Grant Date Fair Value |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding at March 31, 2021 |  | 8,646 |  |  | $ | 19.27 |  |  | 1.85 years |  | $ | 280,467 |
Granted |  | 4,119 |  |  | 26.07 |  |  |  |  |
Vested and released |  | (3,099) |  |  | 18.67 |  |  |  |  |
Forfeited |  | (1,126) |  |  | 20.13 |  |  |  |  |
Outstanding at September 30, 2021 |  | 8,539 |  |  | $ | 22.66 |  |  | 1.07 years |  | $ | 199,726 |
Schedule of Nonvested Performance-based Units Activity | The following table presents PSU activity (shares in thousands):
|  | Number of Shares |  | Weighted Average Grant Date Fair Value |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding at March 31, 2021 |  | 1,576 |  |  | $ | 27.33 |  |  | 1.24 years |  | $ | 51,116 |
Granted |  | 497 |  |  | 30.41 |  |  |  |  |
Granted for performance achievement 1 |  | 20 |  |  | 16.12 |  |  |  |  |
Vested and released |  | (206) |  |  | 16.12 |  |  |  |  |
Cancelled/Forfeited |  | (605) |  |  | 22.80 |  |  |  |  |
Outstanding at September 30, 2021 |  | 1,282 |  |  | $ | 33.24 |  |  | 1.32 years |  | $ | 29,986 |
Schedule of Share-based Compensation Arrangements by Share-based Payment Award | The following table presents the per share fair values of the first tranche based on the closing price of the Company's common stock on the grant date:
Per share fair values | $24.21 | - | $25.78
The following table presents the estimated grant date fair values, and valuation assumptions used in the Monte Carlo pricing model, of the second and third tranches:
Second tranche per share fair values | $27.66 | - | $33.32
Third tranche per share fair values | $29.59 | - | $34.48
Valuation assumptions: |  |  |
Expected volatility | 58.7 | % | - | 59.7%
Risk-free interest rates | 0.3 | % | - | 0.4%
Dividend rate | —%
The following table presents the estimated fair value on the date of grant of each of the look-back features and the assumptions used in the Black-Scholes pricing model:
Fair value of look-back options | $3.88 | - | $8.24
Valuation assumptions: |  |  |
Expected volatility | 58.7%
Risk-free interest rates | 0.05 | % | - | 0.07%
Expected terms (in years) | 0.38 | - | 1.21
Dividend rate | —%

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