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REVENUE FROM CONTRACTS WITH CUSTOMERS
 12 Months Ended
Mar. 31, 2022
Revenue from Contract with Customer [Abstract]  
REVENUE FROM CONTRACTS WITH CUSTOMERS REVENUE FROM CONTRACTS WITH CUSTOMERS
The Company’s standard payment terms vary but do not result in a significant delay between the timing of invoice and payment. The Company occasionally negotiates other payment terms during the contracting process for its retail business. The Company has elected the practical expedient to not adjust the total consideration within a contract to reflect a financing component when the duration of the financing is one year or less.
Disaggregated Revenue
Revenue disaggregated by significant revenue stream for the fiscal years ended March 31, 2022, 2021, and 2020 were as follows (in thousands):
Fiscal Year Ended
March 31,
202220212020
Revenue
Direct to Consumer:
Toys and treats subscription$435,389 $325,992 $199,744 
Other12,685 7,978 4,407 
Total Direct to Consumer$448,074 $333,970 $204,151 
Commerce59,332 44,634 20,184 
Revenue$507,406 $378,604 $224,335 
Contract Liability
The Company’s contract liability represents cash collections from its customers prior to delivery of subscription products, which is recorded as deferred revenue on the consolidated balance sheets. Deferred revenue is recognized as revenue upon the delivery of the box or product.
Deferred revenue was $31.5 million and $27.2 million as of March 31, 2022 and 2021, respectively. During the fiscal year ended March 31, 2022, the Company recognized $26.3 million of revenue included in deferred revenue as of March 31, 2021.
Performance ObligationsA performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account. Performance obligations are satisfied as of a point in time and are supported by contracts with customers. The Company has elected to not disclose information related to remaining performance obligations due to their original expected terms being one year or less.