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STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY
 3 Months Ended
Jun. 30, 2024
Equity [Abstract]  
STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY
The Company accounts for stock-based compensation through the measurement and recognition of compensation expense for share-based payment awards made to employees, directors or consultants over the related requisite service period, including stock appreciation rights, restricted stock, restricted stock units ("RSUs") and performance stock units ("PSUs"), qualified performance-based awards, and stock grants (all issuable under the Company's equity incentive plans).
The Company reserved 8.0 million shares of the Company's common stock for issuance under the 2022 Equity Incentive Plan (the "2022 Plan") plus the number of shares subject to awards that were outstanding under the 2012 Equity Incentive Plan (the "2012 Plan") as of 12:01 a.m. Pacific Time on June 22, 2022 (the “Prior Plan Expiration Time”), to the extent that, after the Prior Plan Expiration Time, such shares would have recycled back to the 2012 Plan in connection with the awards’ expiration, termination, cancellation, forfeiture, or repurchase, as described further below, and in each case, subject to adjustment upon certain changes in the Company’s capitalization. The 2022 Plan provides for the granting of incentive stock options to employees and non-statutory stock options to employees, directors or consultants, and granting of stock appreciation rights, restricted stock, restricted stock units and performance units, qualified performance-based awards, and stock grants. The stock option price of incentive stock options granted cannot be less than the fair market value on the effective date of the grant. Options, restricted stock, and restricted stock units generally vest over three or four years and expire ten years after the grant. As of June 30, 2024, 0.3 million shares remained available for future grants under the 2022 Plan.
Stock-Based Compensation
The following table presents stock-based compensation expense (in thousands):
 Three Months Ended June 30,
 20242023
Cost of service revenue$1,124 $1,686 
Cost of other revenue401 394 
Research and development4,823 7,632 
Sales and marketing2,948 4,649 
General and administrative3,505 3,834 
Total$12,801 $18,195 
Restricted Stock Units
The following table presents the RSU activity (shares in thousands):
Number of SharesWeighted Average Grant Date Fair ValueWeighted Average Remaining Contractual Term (in Years)
Balance as of March 31, 202410,325 $5.36 1.75
Granted2,427 2.09 
Vested and released(2,769)6.15 
Forfeited(121)6.13 
Balance as of June 30, 20249,862 $4.33 1.76
As of June 30, 2024, there was $33.4 million of total unrecognized compensation cost related to RSUs, which is expected to be recognized over a weighted average of 1.76 years.
Performance Stock Units
PSUs are issued to a group of executives and generally time vest over periods ranging from one to three years from the grant date; vesting is generally also contingent upon achievement of applicable performance metrics or strategic objectives. Vesting of performance-based stock units granted can be tied to our total shareholder return, as measured relative to specified market indices during the applicable performance periods and be contingent upon continued service. The related stock-based compensation expense is recognized over the requisite service period and accounts for the probability that we will satisfy the performance measures or strategic objectives.
The following table presents the PSU activity (shares in thousands):
Number of
Shares		Weighted
Average Grant
Date Fair Value		Weighted Average
Remaining Contractual
Term (in Years)
Balance as of March 31, 20242,531 $4.38 1.16
Forfeited(274)10.32 
Balance as of June 30, 20242,257 $3.66 1.30
Total unrecognized compensation cost related to PSUs was $2.6 million as of June 30, 2024, which is expected to be recognized over a weighted average of 1.30 years.
Employee Stock Purchase Plan ("ESPP")
As of June 30, 2024, there was approximately $1.2 million of unrecognized compensation cost related to employee stock purchases. This cost is expected to be recognized over a weighted average period of 0.1 years. As of June 30, 2024, a total of 2.7 million shares were available for issuance under the ESPP.