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REVENUE (Tables) | 9 Months Ended
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Dec. 31, 2024
Revenue from Contract with Customer [Abstract] |
Schedule of Revenue from External Customers by Geographic Areas | In the following table, revenue is disaggregated by major product offerings and geographies (in thousands):
| Three Months Ended December 31, |  |  | Nine Months Ended December 31, |
| 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Americas 1 |  |  |  |  |  |  |  |  |  |  |
Product revenue | 18,294 |  |  |  | 16,159 |  |  |  | 62,410 |  |  |  | 78,287 |  |
Service and subscription | 16,563 |  |  |  | 18,282 |  |  |  | 48,975 |  |  |  | 53,871 |  |
Total revenue | 34,857 |  | 48 | % |  | 34,441 |  | 47 | % |  | 111,385 |  | 52 | % |  | 132,158 |  | 55 | %
EMEA |  |  |  |  |  |  |  |  |  |  |
Product revenue | 15,235 |  |  |  | 14,786 |  |  |  | 39,892 |  |  |  | 42,609 |  |
Service and subscription | 12,077 |  |  |  | 12,282 |  |  |  | 33,471 |  |  |  | 34,234 |  |
Total revenue | 27,312 |  | 38 | % |  | 27,068 |  | 38 | % |  | 73,363 |  | 34 | % |  | 76,843 |  | 32 | %
APAC |  |  |  |  |  |  |  |  |  |  |
Product revenue | 5,081 |  |  |  | 6,168 |  |  |  | 14,087 |  |  |  | 17,739 |  |
Service and subscription | 2,975 |  |  |  | 2,207 |  |  |  | 7,937 |  |  |  | 6,124 |  |
Total revenue | 8,056 |  | 11 | % |  | 8,375 |  | 12 | % |  | 22,024 |  | 10 | % |  | 23,863 |  | 10 | %
Consolidated |  |  |  |  |  |  |  |  |  |  |
Product revenue | 38,610 |  |  |  | 37,113 |  |  |  | 116,389 |  |  |  | 138,635 |  |
Service and subscription | 31,615 |  |  |  | 32,771 |  |  |  | 90,383 |  |  |  | 94,229 |  |
Royalty 2 | 2,326 |  | 3 | % |  | 2,042 |  | 3 | % |  | 7,592 |  | 4 | % |  | 7,235 |  | 3 | %
Total revenue | $ | 72,551 |  | 100 | % |  | $ | 71,926 |  | 100 | % |  | $ | 214,364 |  | 100 | % |  | $ | 240,099 |  | 100 | %
1 Revenue for the Americas geographic region outside of the United States is not significant. 2 Royalty revenue is not allocatable to geographic regions. Revenue by Solution
| Three Months Ended December 31, |  | Nine Months Ended December 31,
| 2024 |  | % |  | 2023 |  | % |  | 2024 |  | % |  | 2023 |  | %
Primary storage systems | $ | 12,404 |  |  | 17 | % |  | $ | 12,887 |  |  | 18 | % |  | $ | 41,034 |  |  | 19 | % |  | $ | 41,394 |  |  | 17 | %
Secondary storage systems | 23,276 |  |  | 33 | % |  | 20,206 |  |  | 28 | % |  | 60,787 |  |  | 28 | % |  | 82,118 |  |  | 34 | %
Device and media | 7,575 |  |  | 10 | % |  | 7,716 |  |  | 11 | % |  | 24,254 |  |  | 11 | % |  | 23,801 |  |  | 10 | %
Service | 26,970 |  |  | 37 | % |  | 29,075 |  |  | 40 | % |  | 80,697 |  |  | 38 | % |  | 85,551 |  |  | 36 | %
Royalty | 2,326 |  |  | 3 | % |  | 2,042 |  |  | 3 | % |  | 7,592 |  |  | 4 | % |  | 7,235 |  |  | 3 | %
Total revenue 1 | $ | 72,551 |  |  | 100 | % |  | $ | 71,926 |  |  | 100 | % |  | $ | 214,364 |  |  | 100 | % |  | $ | 240,099 |  |  | 100 | %
1 Subscription revenue of $4.6 million and $2.3 million was allocated to Primary and Secondary storage systems for the three months ended December 31, 2024 and 2023, respectively. Subscription revenue of $11.3 million and $4.8 million was allocated to Primary and Secondary storage systems for the nine months ended December 31, 2024 and 2023, respectively.
Schedule of Contract Asset, Contract Liability and Receivable | The following table presents the Company’s contract liabilities and certain information related to this balance as of March 31, 2024 and December 31, 2024 (in thousands):
|  | March 31, 2024
Deferred revenue |  | $ | 116,687 |
Revenue recognized in the period from amounts included in contract liabilities at the beginning of the period |  | $ | 76,304 |
|  | December 31, 2024
Deferred revenue |  | $ | 105,266 |
Revenue recognized in the period from amounts included in contract liabilities at the beginning of the period |  | $ | 64,539 |
The table below reflects the Company’s deferred revenue as of December 31, 2024 (in thousands):
| Deferred revenue by period
| Total |  | 1 year or less |  | 1 – 3 Years |  | 3 year or greater |  |
Service revenue | 84,624 |  |  | 60,782 |  |  | 21,815 |  |  | $ | 2,027 |  |  |
Subscription revenue | $ | 20,642 |  |  | $ | 9,134 |  |  | $ | 8,773 |  |  | $ | 2,735 |  |  |
Balance as of December 31, 2024 | $ | 105,266 |  |  | $ | 69,916 |  |  | $ | 30,588 |  |  | $ | 4,762 |  |  |
Schedule of Remaining Performance Obligations | RPO consisted of the following (in thousands):
|  | Current |  | Non-Current |  | Total
As of December 31, 2024 |  | $ | 84,644 |  |  | $ | 37,929 |  |  | $ | 122,573 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 + Details
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- Definition Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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