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STOCK-BASED COMPENSATION (Tables) | 9 Months Ended
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Dec. 31, 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 December 31, |  | Nine Months Ended December 31,
|  | 2021 |  | 2020 |  | 2021 |  | 2020
Cost of service revenue |  | $ | 2,293 |  |  | $ | 2,472 |  |  | $ | 6,606 |  |  | $ | 6,696 |
Cost of other revenue |  | 1,233 |  |  | 1,142 |  |  | 3,507 |  |  | 3,042 |
Research and development |  | 8,472 |  |  | 8,297 |  |  | 26,628 |  |  | 23,097 |
Sales and marketing |  | 11,626 |  |  | 9,363 |  |  | 38,676 |  |  | 22,156 |
General and administrative |  | 10,113 |  |  | 5,565 |  |  | 30,742 |  |  | 19,949 |
Total |  | $ | 33,737 |  |  | $ | 26,839 |  |  | $ | 106,159 |  |  | $ | 74,940 |
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 |  | (685) |  |  | 8.50 |  |  |  |  |
Cancelled/Forfeited |  | (31) |  |  | 21.90 |  |  |  |  |
Outstanding at December 31, 2021 |  | 1,097 |  |  | $ | 9.71 |  |  | 2.50 years |  | $ | 8,053 |
Vested and expected to vest at December 31, 2021 |  | 1,096 |  |  | $ | 9.71 |  |  | 2.49 years |  | $ | 8,053 |
Exercisable at December 31, 2021 |  | 1,085 |  |  | $ | 9.60 |  |  | 2.45 years |  | $ | 8,053 |
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 |  | 5,278 |  |  | 25.23 |  |  |  |  |
Vested and released |  | (4,297) |  |  | 19.27 |  |  |  |  |
Forfeited |  | (1,646) |  |  | 20.77 |  |  |  |  |
Outstanding at December 31, 2021 |  | 7,980 |  |  | $ | 22.90 |  |  | 1.03 years |  | $ | 133,750 |
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 | $3.41 | - | $8.24
Valuation assumptions: |  |  |
Expected volatility | 58.0%
Risk-free interest rates | 0.05 | % | - | 0.07%
Expected terms (in years) | 0.38 | - | 1.21
Dividend rate | —%
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 |  |  | 27.92 |  |  |  |  |
Vested and released |  | (250) |  |  | 17.15 |  |  |  |  |
Cancelled/Forfeited |  | (632) |  |  | 22.77 |  |  |  |  |
Outstanding at December 31, 2021 |  | 1,212 |  |  | $ | 33.89 |  |  | 1.13 years |  | $ | 20,305 |

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