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STOCK-BASED COMPENSTION PLANS (Tables) | 12 Months Ended
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Mar. 31, 2022
Share-based Payment Arrangement [Abstract] |
Summary of Stock Option Activity | The following is a summary of stock option activity for the fiscal year ended March 31, 2022:
| Number Options Outstanding |  | Weighted- Average Exercise Price |  | Weighted-Average Remaining Contractual Life (Years) |  | Aggregate Intrinsic Value
Outstanding as of March 31, 2021 | 29,454,960 |  |  | 2.08 |  |  | 5.34 |  | $ | 251,553 |
Granted | 1,435,386 |  |  | 7.70 |  |  |  |  |
Exercised | (7,322,815) |  |  | 0.56 |  |  |  |  |
Cancelled or forfeited | (4,167,331) |  |  | 3.22 |  |  |  |  |
Expired | (68,564) |  |  | 0.06 |  |  |  |
Outstanding as of March 31, 2022 | 19,331,636 |  |  | $ | 2.83 |  |  | 7.17 |  | $ | 38,332 |
Vested and expected to vest as of March 31, 2022 | 17,759,831 |  |  | $ | 2.52 |  |  | 7.04 |  | $ | 37,058 |
Exercisable as of March 31, 2022 | 13,877,397 |  |  | $ | 1.71 |  |  | 6.65 |  | $ | 32,724 |
Summary of Assumptions for Black-Scholes Option Pricing Model |
| Fiscal Year Ended March 31,
| 2022 |  | 2021 |  | 2020
Expected term (years) | 5.24 |  | 5.26 |  | 5.08
Expected volatility | 62.96 | % |  | 76.48 | % |  | 45.65 | %
Risk-free interest rate | 1.16 | % |  | 0.19 | % |  | 1.71 | %
Expected dividend yield | — | % |  | — | % |  | — | %
Summary of Stock-based Compensation Expense by Function | The following table summarizes the total stock-based compensation expense by function for the fiscal years ended March 31, 2022, 2021, and 2020 which includes expense related to options and restricted stock units (in thousands):
|  | Fiscal Year ended
|  | March 31,
|  | 2022 |  | 2021 |  | 2020
General and administrative |  | $17,063 |  | $6,298 |  | $1,757
Advertising and marketing |  | 797 |  | 224 |  | 60
Total stock-based compensation expense |  | $17,861 |  | $6,522 |  | $1,817

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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