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STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY
 3 Months Ended
Jun. 30, 2026
Equity [Abstract]  
STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY Stock-Based Compensation and Stockholders' Equity
Common Stock Reserved for Future Issuance
Shares of common stock reserved for future issuance related to outstanding equity awards and employee equity incentive plans as of June 30, 2026 were as follows (in thousands):
Shares of Common Stock Reserved
Stock options outstanding15 
Restricted and performance stock units outstanding16,582 
Shares available under the 2017 Plan940 
Shares available under the 2022 Plan5,099 
Shares available for future issuance under the ESPP4,425 
Total shares of common stock reserved27,061 
2022 Equity Incentive Plan
As of June 30, 2026, 5.1 million shares remained available for future grants under the Amended and Restated 2022 Equity Incentive Plan (the "2022 Plan"). Subsequent to the end of the quarter, shareholders approved an amendment to the 2022 Plan, increasing the number of shares reserved for future issuance by 8.3 million shares. See Note 12, Subsequent Events, for further details.
2017 New Employee Inducement Incentive Plan
As of June 30, 2026, approximately 0.9 million shares remained available for future grants under the Amended and Restated 2017 New Employee Inducement Incentive Plan (the "2017 Plan"). Subsequent to the end of the quarter, the Board of Directors approved an amendment increasing the number of shares reserved for future issuance by 1.2 million shares. See Note 12, Subsequent Events, for further details.
Stock-Based Compensation
The following table presents stock-based compensation expense (in thousands):
Three Months Ended June 30,
20262025
Cost of service revenue$174 $273 
Cost of other revenue79 139 
Research and development938 1,390 
Sales and marketing1,171 1,999 
General and administrative1,693 2,551 
Total$4,055 $6,352 
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 restricted stock, RSUs and PSUs, qualified performance-based awards, and stock grants (all issuable under the Company's equity incentive plans).
As of June 30, 2026, unrecognized stock-based compensation expense by award type and their expected weighted-average recognition periods are summarized as follows (in thousands, except years):
RSUPSUESPP
Unrecognized stock-based compensation expense$22,460 $3,261 $250 
Weighted-average amortization period2.2 years1.5 years0.8 years
Restricted Stock Units
The following table presents the RSU activity (shares in thousands):
RSUsNumber of SharesWeighted Average Grant Date Fair ValueWeighted Average Remaining Contractual Term (in Years)
Balance as of March 31, 20269,791 $2.00 0.86
Granted6,360 2.29 
Vested and released(2,716)2.08 
Forfeited(681)2.00 
Balance as of June 30, 202612,754 $2.13 1.25
Performance Stock Units
Market-Based PSUs
Market-based PSUs are granted to certain employees, including executive officers, with vesting that is contingent on a combination of stock performance and continued service. These awards are eligible to be earned over a period of one year to four years based on Total Shareholder Return ("TSR"), relative to specified market indices, or the achievement of specific pre-established absolute stock price hurdles.
The grant date fair value of market-based PSUs is determined using a Monte Carlo simulation model. Stock-based compensation expense is recognized over the requisite service period, regardless of whether the market condition is ultimately achieved. During the three months ended June 30, 2026 and 2025, the Company determined that the market conditions were not achieved and therefore no shares have been earned.
Performance-Based PSUs
Performance-based PSUs are granted to certain employees, including executive officers, with vesting based on the achievement of specific financial or operational goals, such as revenue growth or cash flow from operations ("CFFO"). The grant date fair value of performance-based PSUs is valued based on the Company’s stock price at the grant date. Stock-based compensation expense is recognized over the requisite service period based on the number of units expected to vest, which is reassessed during each reporting period based on the Company’s evaluation of the probability of achieving the applicable performance conditions.
The Company determined that the CFFO and revenue targets for the performance period were probable of being achieved and recognized $0.4 million and $0.3 million of related compensation expense for the three months ended June 30, 2026 and 2025, respectively.
The following table presents the PSU activity (shares in thousands):
PSUsNumber of SharesWeighted Average Grant Date Fair ValueWeighted Average Remaining Contractual Term (in Years)
Balance as of March 31, 20263,549 $2.48 0.65
Granted11,356 2.27 
Vested and released(938)1.90 
Forfeited(139)2.56 
Balance as of June 30, 20263,828 $2.55 1.53
Employee Stock Purchase Plan
As of June 30, 2026, a total of 4.4 million shares remained available for issuance under the ESPP.
1 Represents performance-based PSUs granted based on the achievement of specific financial or operational goals, such as revenue growth or CFFO.
Share Repurchase Program

In May 2017, the Company's board of directors authorized the Company to purchase $25.0 million of its common stock from time to time under the 2017 Repurchase Plan (the "2017 Repurchase Plan"). The 2017 Repurchase Plan expires when the maximum purchase amount is reached, or upon the earlier revocation or termination by the Company's board of directors. During the three months ended June 30, 2025, the Company repurchased 1.0 million shares of common stock in the open market for approximately $1.8 million at an average price of $1.83 per share. The total purchase price of the common stock repurchased and retired was reflected as a reduction to the condensed consolidated stockholders' equity during the repurchase period. The remaining amount of shares of common stock available for repurchase under the 2017 Repurchase Plan as of June 30, 2026 was approximately $5.2 million. During the three months ended June 30, 2026, the Company did not repurchase any shares of common stock under the 2017 Repurchase Plan.