XML 43 R20.htm IDEA: XBRL DOCUMENT
v3.25.2

SEGMENT INFORMATION | 12 Months Ended
--- | ---
Mar. 31, 2025
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION Disaggregation of Revenue The following table depicts the disaggregation of revenue by geographic areas and major product offerings and geographies and is consistent with how the Company evaluates its financial performance (in thousands):
| Year Ended March 31, |  |
| 2025 |  | % |  | 2024 |  | % |  |  |  |
Americas 1 |  |  |  |  |  |  |  |  |  |  |
Product revenue | $ | 82,772 |  |  |  |  | $ | 92,907 |  |  |  |  |  |  |
Service and subscription | 59,277 |  |  |  |  | 71,317 |  |  |  |  |  |  |
Total revenue | 142,049 |  |  | 52 | % |  | 164,224 |  |  | 53 | % |  |  |  |
EMEA |  |  |  |  |  |  |  |  |  |  |
Product revenue | 53,742 |  |  |  |  | 59,465 |  |  |  |  |  |  |
Service and subscription | 40,818 |  |  |  |  | 47,372 |  |  |  |  |  |  |
Total revenue | 94,560 |  |  | 35 | % |  | 106,837 |  |  | 34 | % |  |  |  |
APAC |  |  |  |  |  |  |  |  |  |  |
Product revenue | 17,668 |  |  |  |  | 22,507 |  |  |  |  |  |  |
Service and subscription | 10,563 |  |  |  |  | 7,901 |  |  |  |  |  |  |
Total revenue | 28,231 |  |  | 10 | % |  | 30,408 |  |  | 10 | % |  |  |  |
Consolidated |  |  |  |  |  |  |  |  |  |  |
Product revenue | 154,182 |  |  |  |  | 174,879 |  |  |  |  |  |  |
Service and subscription | 110,658 |  |  |  |  | 126,590 |  |  |  |  |  |  |
Royalty 2 | 9,218 |  |  | 3 | % |  | 10,131 |  |  | 3 | % |  |  |  |
Total revenue | $ | 274,058 |  |  | 100 | % |  | $ | 311,600 |  |  | 100 | % |  |  |  |
1 Revenue for Americas geographic region outside of the United States is not significant. 2 Royalty revenue is not allocable to geographic regions. Revenue by Solution
| Year Ended March 31, |  |
| 2025 |  | % |  | 2024 |  | % |  |  |  |
Primary storage systems | $ | 58,127 |  |  | 21 | % |  | $ | 53,525 |  |  | 17 | % |  |  |  |
Secondary storage systems | 73,772 |  |  | 27 | % |  | 100,599 |  |  | 32 | % |  |  |  |
Device and media | 34,352 |  |  | 13 | % |  | 33,477 |  |  | 11 | % |  |  |  |
Service | 98,589 |  |  | 36 | % |  | 113,868 |  |  | 37 | % |  |  |  |
Royalty | 9,218 |  |  | 3 | % |  | 10,131 |  |  | 3 | % |  |  |  |
Total revenue 1 | $ | 274,058 |  |  | 100 | % |  | $ | 311,600 |  |  | 100 | % |  |  |  |
1 Subscription revenue of $12.1 million and $7.3 million allocated to Primary and Secondary storage systems for the fiscal years ended 2025 and 2024, respectively. Net Loss The following table shows reported segment revenue, segment profit or loss, and significant segment expenses were as follows: (in thousands):
|  |  |  | Year Ended March 31,
|  |  |  |  |  | 2025 |  | 2024
Total revenue |  |  |  |  |  | $ | 274,058 |  |  | $ | 311,600 |
Total cost of revenue |  |  |  |  |  | 164,226 |  |  | 186,711 |
Gross profit |  |  |  |  |  | 109,832 |  |  | 124,889 |
Gross margin |  |  |  |  |  | 40.1 | % |  | 40.1 | %
Operating expenses |  |  |  |  |  |  |  |
Salaries & fringe 1 |  |  |  |  |  | 80,882 |  |  | 94,871 |
Outside services 2 |  |  |  |  |  | 37,171 |  |  | 21,635 |
Infrastructure 3 |  |  |  |  |  | 10,783 |  |  | 15,295 |
Operational costs 4 |  |  |  |  |  | 9,874 |  |  | 8,985 |
Restructuring |  |  |  |  |  | 4,090 |  |  | 3,280 |
Other segment items 5 |  |  |  |  |  | 8,712 |  |  | 9,700 |
Total operating expenses |  |  |  |  |  | 151,512 |  |  | 153,766 |
Loss from operations |  |  |  |  |  | (41,680) |  |  | (28,877) |
Other expense, net |  |  |  |  |  | (710) |  |  | (1,746) |
Interest expense |  |  |  |  |  | (23,607) |  |  | (15,089) |
Change in fair value of warrant liability |  |  |  |  |  | (45,270) |  |  | 5,137 |
Loss on debt extinguishment, net |  |  |  |  |  | (3,003) |  |  | — |
Net loss before income taxes |  |  |  |  |  | (114,270) |  |  | (40,575) |
Income tax provision |  |  |  |  |  | 821 |  |  | 711 |
Net loss |  |  |  |  |  | $ | (115,091) |  |  | $ | (41,286) |
1 Salaries & fringe includes spend on contractors. 2 Outside services includes contractor, recruiting and legal expenses. 3 Infrastructure includes property related expenses, including fixed and variable lease expense, telecommunications and depreciation. 4 Operational costs include due and subscriptions, computer expenses, office supplies and other miscellaneous items. 5 Other segment items includes travel related spend, marketing expense, taxes, fees and other miscellaneous items. Long-lived assets The following table summarizes property and equipment, net by geographic region (in thousands):
| For the year ended March 31,
| 2025 |  | 2024 |  |  |  |
United States | $ | 11,160 |  |  | $ | 11,759 |  |  |  |  |
International | 218 |  |  | 269 |  |  |  |  |
Total | $ | 11,378 |  |  | $ | 12,028 |  |  |  |  |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 8: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 9: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 10: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration