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REVENUE (Tables) | 6 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 30, 2024 | Mar. 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 offering and geographies (in thousands):
| Year Ended March 31, |  |
| 2024 |  | % |  | 2023 |  | % |  | 2022 |  | %
|  |  |  |  | Restated |  |  |  | Restated |  |
Americas(1) |  |  |  |  |  |  |  |  |  |  |
Product revenue | $ | 92,907 |  |  |  |  | $ | 175,652 |  |  |  |  | $ | 130,248 |  |  |
Service and subscription | 71,317 |  |  |  |  | 77,581 |  |  |  |  | 82,927 |  |  |
Total revenue | 164,224 |  |  | 53 | % |  | 253,233 |  |  | 60 | % |  | 213,175 |  |  | 55 | %
EMEA |  |  |  |  |  |  |  |  |  |  |
Product revenue | 59,465 |  |  |  |  | 70,025 |  |  |  |  | 71,498 |  |  |
Service and subscription | 47,372 |  |  |  |  | 46,279 |  |  |  |  | 46,401 |  |  |
Total revenue | 106,837 |  |  | 34 | % |  | 116,304 |  |  | 28 | % |  | 117,899 |  |  | 31 | %
APAC |  |  |  |  |  |  |  |  |  |  |
Product revenue | 22,507 |  |  |  |  | 29,177 |  |  |  |  | 29,068 |  |  |
Service and subscription | 7,901 |  |  |  |  | 9,658 |  |  |  |  | 7,913 |  |  |
Total revenue | 30,408 |  |  | 10 | % |  | 38,835 |  |  | 9 | % |  | 36,981 |  |  | 10 | %
Consolidated |  |  |  |  |  |  |  |  |  |  |
Product revenue | 174,879 |  |  |  |  | 274,854 |  |  |  |  | 230,814 |  |  |
Service and subscription | 126,590 |  |  |  |  | 133,518 |  |  |  |  | 137,241 |  |  |
Royalty(2) | 10,131 |  |  | 3 | % |  | 13,705 |  |  | 3 | % |  | 15,377 |  |  | 4 | %
Total revenue | $ | 311,600 |  |  | 100 | % |  | $ | 422,077 |  |  | 100 | % |  | $ | 383,432 |  |  | 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, |  |
| 2024 |  | % |  | 2023 |  | % |  | 2022 |  | %
|  |  |  |  | As restated |  |  |  | As restated |  |
Primary storage systems | $ | 53,525 |  |  | 17 | % |  | $ | 63,334 |  |  | 15 | % |  | $ | 67,592 |  |  | 18 | %
Secondary storage systems | 100,599 |  |  | 32 | % |  | 178,431 |  |  | 42 | % |  | 118,537 |  |  | 31 | %
Device and media | 33,477 |  |  | 11 | % |  | 42,008 |  |  | 10 | % |  | 49,959 |  |  | 13 | %
Service | 113,868 |  |  | 37 | % |  | 124,599 |  |  | 30 | % |  | 131,967 |  |  | 34 | %
Royalty | 10,131 |  |  | 3 | % |  | 13,705 |  |  | 3 | % |  | 15,377 |  |  | 4 | %
Total revenue(1) | $ | 311,600 |  |  | 100 | % |  | $ | 422,077 |  |  | 100 | % |  | $ | 383,432 |  |  | 100 | %
__________________ (1)Subscription revenue of $7.3 million, $5.6 million and $4.2 million allocated to Primary and Secondary storage systems for the fiscal years ended 2024, 2023 and 2022, respectively.
Schedule of deferred revenue, by arrangement | The following table presents the Company’s contract liabilities and certain information related to this balance as of March 31, 2024 and September 30, 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 |
|  | September 30, 2024
Deferred revenue |  | $ | 106,533 |
Revenue recognized in the period from amounts included in contract liabilities at the beginning of the period |  | $ | 48,132 |
The table below reflects the Company’s deferred revenue as of September 30, 2024 (in thousands):
| Deferred revenue by period
| Total |  | 1 year or less |  | 1 – 3 Years |  | 3 year or greater |  |
Service revenue | 89,667 |  |  | 61,629 |  |  | 22,809 |  |  | $ | 5,229 |  |  |
Subscription revenue | $ | 16,866 |  |  | $ | 7,740 |  |  | $ | 7,382 |  |  | $ | 1,744 |  |  |
Total at September 30, 2024 | $ | 106,533 |  |  | $ | 69,369 |  |  | $ | 30,191 |  |  | $ | 6,973 |  |  |
| The following table presents the Company’s contract liabilities and certain information related to this balance as of March 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 |
| March 31, 2023
| As Restated
Deferred revenue | $ | 115,302 |
Revenue recognized in the period from amounts included in contract liabilities at the beginning of the period | $ | 83,113 |
| March 31, 2022
| As Restated
Deferred revenue | $ | 126,916 |
Revenue recognized in the period from amounts included in contract liabilities at the beginning of the period | $ | 86,731 |
Schedule of remaining performance obligations | RPO consisted of the following (in thousands):
| Current |  | Non-Current |  | Total
As of September 30, 2024 | $ | 82,813 |  |  | $ | 39,617 |  |  | $ | 122,430 |
| Remaining performance obligations consisted of the following (in thousands):
| Current |  | Non-Current |  | Total
As of March 31, 2024 | $ | 90,546 |  |  | $ | 40,895 |  |  | $ | 131,441 |
Schedule of deferred revenue, by arrangement, disclosure |  | The table below reflects our deferred revenue as of March 31, 2024 (in thousands):
| Deferred revenue by period
(in thousands) | Total |  | 1 year or less |  | 1 – 3 Years |  | 3 year or greater |  |
Service revenue | $ | 107,819 |  |  | $ | 74,332 |  |  | $ | 28,184 |  |  | $ | 5,303 |  |  |
Subscription revenue | 8,868 |  |  | 4,180 |  |  | 3,686 |  |  | 1,002 |  |  |
Total | $ | 116,687 |  |  | $ | 78,512 |  |  | $ | 31,870 |  |  | $ | 6,305 |  |  |
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 September 30, |  |  |  | Six Months Ended September 30, |  |
| 2024 |  |  |  | 2023 |  |  |  | 2024 |  |  |  | 2023 |  |
Americas(1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product revenue | 20,487 |  |  |  |  | 25,493 |  |  |  |  | 44,117 |  |  |  |  | 62,128 |  |  |
Service and subscription | 17,298 |  |  |  |  | 17,635 |  |  |  |  | 32,412 |  |  |  |  | 35,589 |  |  |
Total revenue | 37,785 |  |  | 54 | % |  | 43,128 |  |  | 57 | % |  | 76,529 |  |  | 54 | % |  | 97,717 |  |  | 58 | %
EMEA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product revenue | 11,682 |  |  |  |  | 11,975 |  |  |  |  | 24,656 |  |  |  |  | 27,823 |  |  |
Service and subscription | 11,731 |  |  |  |  | 10,846 |  |  |  |  | 21,394 |  |  |  |  | 21,952 |  |  |
Total revenue | 23,413 |  |  | 33 | % |  | 22,821 |  |  | 30 | % |  | 46,050 |  |  | 32 | % |  | 49,775 |  |  | 30 | %
APAC |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product revenue | 4,616 |  |  |  |  | 5,479 |  |  |  |  | 9,006 |  |  |  |  | 11,571 |  |  |
Service and subscription | 2,292 |  |  |  |  | 2,024 |  |  |  |  | 4,962 |  |  |  |  | 3,917 |  |  |
Total revenue | 6,908 |  |  | 10 | % |  | 7,503 |  |  | 10 | % |  | 13,968 |  |  | 10 | % |  | 15,488 |  |  | 9 | %
Consolidated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product revenue | 36,785 |  |  |  |  | 42,947 |  |  |  |  | 77,779 |  |  |  |  | 101,522 |  |  |
Service and subscription | 31,321 |  |  |  |  | 30,505 |  |  |  |  | 58,768 |  |  |  |  | 61,458 |  |  |
Royalty(2) | 2,363 |  |  | 3 | % |  | 2,228 |  |  | 3 | % |  | 5,265 |  |  | 4 | % |  | 5,194 |  |  | 3 | %
Total revenue | $ | 70,469 |  |  | 100 | % |  | $ | 75,680 |  |  | 100 | % |  | $ | 141,812 |  |  | 100 | % |  | $ | 168,174 |  |  | 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 September 30, |  | Six Months Ended September 30,
| 2024 |  | % |  | 2023 |  | % |  | 2024 |  | % |  | 2023 |  | %
Primary storage systems | $ | 11,760 |  |  | 17 | % |  | $ | 17,058 |  |  | 23 | % |  | $ | 28,630 |  |  | 20 | % |  | $ | 28,507 |  |  | 17 | %
Secondary storage systems | 21,742 |  |  | 30 | % |  | 20,340 |  |  | 27 | % |  | 37,511 |  |  | 26 | % |  | 61,912 |  |  | 36 | %
Device and media | 7,430 |  |  | 11 | % |  | 7,893 |  |  | 10 | % |  | 16,679 |  |  | 12 | % |  | 16,085 |  |  | 10 | %
Service | 27,174 |  |  | 39 | % |  | 28,161 |  |  | 37 | % |  | 53,727 |  |  | 38 | % |  | 56,476 |  |  | 34 | %
Royalty | 2,363 |  |  | 3 | % |  | 2,228 |  |  | 3 | % |  | 5,265 |  |  | 4 | % |  | 5,194 |  |  | 3 | %
Total revenue(1) | $ | 70,469 |  |  | 100 | % |  | $ | 75,680 |  |  | 100 | % |  | $ | 141,812 |  |  | 100 | % |  | $ | 168,174 |  |  | 100 | %
__________________ (1)Subscription revenue of $4.1 million and $1.0 million was allocated to Primary and Secondary storage systems for the three months ended September 30, 2024 and 2023, respectively. Subscription revenue of $5.0 million and $2.5 million was allocated to Primary and Secondary storage systems for the six months ended September 30, 2024 and 2023, respectively. |

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