0001023731-22-000087 | 10-K | XBRL Viewer

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Cover Page - USD ($) $ in Billions	12 Months Ended
Cover Page - USD ($) $ in Billions	Mar. 31, 2022	May 16, 2022	Sep. 30, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Mar. 31, 2022
Current Fiscal Year End Date	--03-31
Document Transition Report	false
Entity File Number	000-38312
Entity Registrant Name	8x8, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0142404
Entity Address, Address Line One	675 Creekside Way
Entity Address, City or Town	Campbell
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95008
City Area Code	408
Local Phone Number	727-1885
Title of 12(b) Security	COMMON STOCK, PAR VALUE $.001 PER SHARE
Trading Symbol	EGHT
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 1.4
Entity Common Stock, Shares Outstanding		118,234,503
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Items 10, 11, 12, 13 and 14 of Part III incorporate information by reference from the Proxy Statement to be filed within 120 days of March 31, 2022 for the 2022 Annual Meeting of Stockholders.
Entity Central Index Key	0001023731
Amendment Flag	false
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022

Audit Information	12 Months Ended
Audit Information	Mar. 31, 2022
Audit Information [Abstract]
Auditor Name	Moss Adams LLP
Auditor Location	Campbell, California
Auditor Firm ID	659

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Current assets:
Cash and cash equivalents	$ 91,205	$ 112,531
Restricted cash, current	8,691	8,179
Short-term investments	44,845	40,337
Accounts receivable, net	57,400	51,150
Deferred sales commission costs, current	35,482	30,241
Other current assets	37,999	34,095
Total current assets	275,622	276,533
Property and equipment, net	79,016	93,076
Operating lease, right-of-use assets	63,415	66,664
Intangible assets, net	128,213	17,130
Goodwill	266,867	131,520
Restricted cash, non-current	818	462
Long-term investments	2,671	0
Deferred sales commission costs, non-current	75,668	72,427
Other assets, non-current	17,978	20,597
Total assets	910,268	678,409
Current liabilities:
Accounts payable	49,721	31,236
Accrued compensation	36,319	29,879
Accrued taxes	32,573	12,129
Operating lease liabilities, current	15,485	12,942
Deferred revenue, current	34,262	20,737
Other accrued liabilities	23,167	14,455
Total current liabilities	191,527	121,378
Operating lease liabilities, non-current	74,518	82,456
Convertible senior notes, net	447,452	308,435
Deferred revenue, non-current	11,430	2,999
Other liabilities, non-current	2,975	2,637
Total liabilities	727,902	517,905
Commitments and contingencies (Note 6)
Stockholders' equity:
Preferred stock: $0.001 par value, 5,000,000 shares authorized, none issued and outstanding at both March 31, 2022 and 2021	0	0
#REF!	118	109
Additional paid-in capital	956,599	755,643
Accumulated other comprehensive loss	(7,913)	(4,193)
Accumulated deficit	(766,438)	(591,055)
Total stockholders' equity	182,366	160,504
Total liabilities and stockholders' equity	$ 910,268	$ 678,409

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2022	Mar. 31, 2021
Stockholders' equity:
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value per share (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	117,862,807	109,134,740
Common stock, shares outstanding (in shares)	117,862,807	109,134,740

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Total revenue	$ 638,130	$ 532,344	$ 446,237
Operating expenses:
Research and development	112,387	92,034	77,790
Sales and marketing	314,223	256,231	240,013
General and administrative	118,103	100,078	87,025
Total operating expenses	792,271	678,493	606,056
Loss from operations	(154,141)	(146,149)	(159,819)
Other expense, net	(21,629)	(18,593)	(11,717)
Loss before provision for income taxes	(175,770)	(164,742)	(171,536)
(Benefit from) provision for income taxes	(387)	843	832
Net loss	$ (175,383)	$ (165,585)	$ (172,368)
Net loss per share:
Basic (in dollars per share)	$ (1.55)	$ (1.57)	$ (1.72)
Diluted (in dollars per share)	$ (1.55)	$ (1.57)	$ (1.72)
Weighted average number of shares:
Basic (in shares)	113,354	105,700	99,999
Diluted (in shares)	113,354	105,700	99,999
Service revenue
Total revenue	$ 602,357	$ 495,985	$ 414,078
Operating expenses:
Cost of revenue	195,909	180,082	145,013
Other revenue
Total revenue	35,773	36,359	32,159
Operating expenses:
Cost of revenue	$ 51,649	$ 50,068	$ 56,215

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (175,383)	$ (165,585)	$ (172,368)
Other comprehensive income (loss), net of tax
Unrealized gain (loss) on investments in securities	(571)	247	(203)
Foreign currency translation adjustment	(3,149)	7,736	(4,620)
Comprehensive loss	$ (179,103)	$ (157,602)	$ (177,191)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Wavecell Pte. Ltd.	Fuze	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Common Stock Wavecell Pte. Ltd.	Common Stock Fuze	Common Stock Cumulative Effect, Period of Adoption, Adjustment	Additional Paid-in Capital	Additional Paid-in Capital Fuze	Additional Paid-in Capital Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment
Beginning balance (in shares) at Mar. 31, 2019					96,119,888
Beginning balance at Mar. 31, 2019	$ 249,390				$ 96				$ 506,949			$ (7,353)	$ (250,302)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock plans, less withholding (in shares)								4,452,267
Issuance of common stock under stock plans, less withholding				$ 7,777				$ 4			$ 7,773
Issuance of common stock related to acquisition (in shares)					2,606,466
Issuance of common stock related to acquisition	35,840				$ 3				35,837
Stock-based compensation expense	71,821								71,821
Equity component of convertible senior notes, net of issuance costs	3,094								3,094
Unrealized investment loss/gain	(203)											(203)
Foreign currency translation adjustment	(4,620)											(4,620)
Net loss	(172,368)												(172,368)
Ending balance (in shares) at Mar. 31, 2020					103,178,621
Ending balance at Mar. 31, 2020	190,731			$ (2,800)	$ 103				625,474			(12,176)	(422,670)	$ (2,800)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock plans, less withholding (in shares)					6,067,672
Issuance of common stock under stock plans, less withholding	13,269				$ 6				13,263
Issuance of common stock related to acquisition (in shares)					(111,554)
Issuance of common stock related to acquisition	8,489								8,489
Stock-based compensation expense	108,417								108,417
Unrealized investment loss/gain	247											247
Foreign currency translation adjustment	7,736											7,736
Net loss	(165,585)												(165,585)
Ending balance (in shares) at Mar. 31, 2021					109,134,739
Ending balance at Mar. 31, 2021	160,504				$ 109				755,643			(4,193)	(591,055)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock plans, less withholding (in shares)					6,969,809
Issuance of common stock under stock plans, less withholding	15,922				$ 7				15,915
Issuance of common stock related to acquisition (in shares)						(25,536)	4,070,355
Issuance of common stock related to acquisition		$ 0	$ 80,856				$ 4			$ 80,852
Stock-based compensation expense	132,736								132,736
Stock-based compensation expense related to Fuze acquisition (in shares)					53,498
Stock-based compensation expense related to Fuze acquisition	828								828
Share repurchase (in shares)					(2,340,058)
Share repurchase	(44,976)				$ (2)				(44,974)
Equity component of convertible senior notes, net of issuance costs	15,599								15,599
Unrealized investment loss/gain	(571)											(571)
Foreign currency translation adjustment	(3,149)											(3,149)
Net loss	(175,383)												(175,383)
Ending balance at Mar. 31, 2022	$ 182,366				$ 118				$ 956,599			$ (7,913)	$ (766,438)

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Mar. 31, 2020 USD ($)
Cash flows from operating activities:
Net loss	$ (175,383)	$ (165,585)	$ (172,368)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	11,374	11,297	9,360
Amortization of intangible assets	8,317	6,886	8,842
Amortization of capitalized internal-use software costs	28,863	26,934	19,025
Amortization of debt discount and issuance costs	20,404	16,898	14,045
Amortization of deferred sales commission costs	34,701	27,817	19,541
Allowance for credit losses	1,974	4,471	3,479
Operating lease expense	13,482	15,210	14,971
Stock-based compensation expense	133,331	107,638	70,878
Other	3,726	1,521	3,522
Changes in assets and liabilities:
Accounts receivable	6,867	(14,869)	(12,737)
Deferred sales commission costs	(44,224)	(52,960)	(46,421)
Other current and non-current assets	(4,022)	(3,963)	(33,137)
Accounts payable and accruals	(8,740)	(10,033)	2,159
Deferred revenue	4,010	14,672	4,936
Net cash provided by (used in) operating activities	34,680	(14,066)	(93,905)
Cash flows from investing activities:
Purchases of property and equipment	(4,137)	(6,430)	(35,834)
Capitalized internal-use software costs	(20,370)	(28,816)	(31,573)
Purchases of investments	(83,383)	(52,172)	(42,223)
Sales of investments	13,299	1,018	36,515
Proceeds from maturities of investments	60,023	60,479	25,950
Acquisition of businesses, net of cash acquired	(125,410)	(10,400)	(59,129)
Net cash used in investing activities	(159,978)	(36,321)	(106,294)
Cash flows from financing activities:
Finance lease payments	(15)	(78)	(315)
Tax-related withholding of common stock	(310)	(69)	(6,550)
Proceeds from issuance of common stock under employee stock plans	16,107	13,339	14,330
Purchases of capped calls	0	0	(9,288)
Repurchase of common stock	(44,976)	0	0
Net proceeds from issuance of convertible senior notes	134,619	0	73,918
Net cash provided by financing activities	105,425	13,192	72,095
Effect of exchange rate changes on cash	(585)	1,956	(168)
Net decrease in cash, cash equivalents and restricted cash	(20,458)	(35,239)	(128,272)
Cash, cash equivalents and restricted cash, beginning of year	121,172	156,411	284,683
Cash, cash equivalents and restricted cash, end of year	100,714	121,172	156,411
Supplemental Cash Flow Information [Abstract]
Right-of-use assets obtained in exchange for new and modified operating lease liabilities	0	0	79,100
Right-of-use assets acquired in connection with Fuze acquisition	7,261	0	0
Business combination, value of stock issued	80,856	0	0
Payables for fixed assets	88	0	0
Interest paid	2,156	1,813	1,553
Income taxes paid	1,320	555	934
Reconciliation Of Cash, Cash Equivalents And Restricted Cash [Abstract]
Cash and cash equivalents	91,205	112,531	137,394
Restricted cash, current	8,691	8,179	10,376
Restricted cash, non-current	818	462	8,641
Total cash, cash equivalents and restricted cash	$ 100,714	$ 121,172	$ 156,411

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES	Mar. 31, 2022
Accounting Policies [Abstract]
THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES	THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES THE COMPANY 8x8, Inc. ("8x8" or the "Company") was incorporated in California in February 1987 and was reincorporated in Delaware in December 1996. The Company is a leading Software-as-a-Service ("SaaS") provider of contact center, voice, video, chat, and enterprise-class API solutions powered by one global cloud communications platform. 8x8 empowers workforces worldwide by connecting individuals and teams so they can collaborate faster and work smarter from anywhere. 8x8 provides real-time business analytics and intelligence, giving its customers unique insights across all interactions and channels on its platform, so they can support a distributed and hybrid working model while delighting their end-customers and accelerating their business. A majority of all revenue is generated from communication services subscriptions and platform usage. The Company also generates revenue from sales of hardware and professional services, which are complementary to the delivery of its integrated technology platform. BASIS OF PRESENTATION AND CONSOLIDATION The Company's fiscal year ends on March 31 of each calendar year. Each reference to a fiscal year in these Notes to Consolidated Financial Statements refers to the fiscal year ended March 31 of the calendar year indicated (for example, fiscal 2022 refers to the fiscal year ended March 31, 2022). All dollar amounts herein are in thousands of United States Dollars ("Dollars") unless otherwise noted. The consolidated financial statements include the accounts of 8x8 and its subsidiaries. All material intercompany accounts and transactions have been eliminated. ACQUISITIONS In January 2022, the Company completed the acquisition of Fuze, Inc. ("Fuze"), a provider of cloud-based, unified communications and contact center services. The acquisition is expected to accelerate 8x8 XCaaS™ (eXperience Communications as a Service™) innovation and expand 8x8’s enterprise customer base and global presence. See Note 12, "Acquisitions," in the Notes to Consolidated Financial Statements for further discussion. USE OF ESTIMATES The preparation of the consolidated financial statements in conformity with United States generally accepted accounting principles generally ("U.S. GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and equity, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates, including, but not limited to, those related to current expected credit losses, returns reserve for expected cancellations, fair value of and/or potential impairment of goodwill and intangible assets, capitalized internal-use software costs, benefit period for deferred commissions, stock-based compensation, incremental borrowing rate used to calculate operating lease liabilities, income and sales tax liabilities, convertible senior notes fair value, litigation, and other contingencies. The Company bases its estimates on known facts and circumstances, historical experience, and various other assumptions. Actual results could differ from those estimates under different assumptions or conditions. REVENUE RECOGNITION As described below, significant management judgments and estimates must be made and used in connection with the recognition of revenue. Material differences may result in the amount and timing of our revenue if management were to make different judgments or utilize different estimates. The Company recognizes revenue using the five-step model prescribed by U.S. GAAP, as follows: •identification of the contract, or contracts, with a customer; •identification of the performance obligations in the contract; •determination of the transaction price; •allocation of the transaction price to the performance obligations in the contract; and •recognition of revenue when, or as, the Company satisfies a performance obligation. The Company identifies performance obligations in contracts with customers, which may include subscription services and related usage, product revenue, and professional services. The transaction price is determined based on the amount we expect to be entitled to receive in exchange for transferring the promised services or products to the customer. The transaction price in the contract is allocated to each distinct performance obligation in an amount that represents the relative amount of consideration expected to be received in exchange for satisfying each performance obligation. Revenue is recognized when performance obligations are satisfied, based on the transaction price, excluding amounts collected on behalf of third parties such as sales and telecommunication taxes, which are collected on behalf of and remitted to governmental authorities. We generally bill our customers on a monthly basis. Contracts typically range from annual to multi-year agreements with payment terms of net 30 days. We occasionally allow a 30-day period to cancel a subscription and return products shipped for a full refund. The Company records reductions to revenue for estimated sales returns and customer credits at the time the related revenue is recognized. Sales returns and customer credits are estimated based on historical experience, current trends, and expectations regarding future experience. The Company monitors the accuracy of its sales reserve estimates by reviewing actual returns and credits and adjusts them for its future expectations to determine the adequacy of its current and future reserve needs. If actual future returns and credits differ from past experience, additional reserves may be required. When the Company's services do not meet certain service level commitments, customers are entitled to receive service credits, and in certain cases, refunds, each representing a form of variable consideration. The Company historically has not experienced any significant incidents affecting the defined levels of reliability and performance as required by its subscription contracts. Accordingly, the amount of any estimated refunds related to these agreements in the consolidated financial statements is not material during the periods presented. Judgments and Estimates The estimation of variable consideration for each performance obligation requires the Company to make subjective judgments. The Company has service-level agreements with customers warranting defined levels of uptime reliability and performance. Customers may get credits or refunds if the Company fails to meet such levels. If the services do not meet certain criteria, fees are subject to adjustment or refund representing a form of variable consideration. The Company may impose minimum revenue commitments ("MRC") on its customers at the inception of the contract. Thus, in estimating variable consideration for each of these performance obligations, the Company assesses both the probability of MRC occurring and the collectability of the MRC, both of which represent a form of variable consideration. The Company enters into contracts with customers that regularly include promises to transfer multiple services and products, such as subscriptions, products, and professional services. For arrangements with multiple services, the Company evaluates whether the individual services qualify as distinct performance obligations. In its assessment of whether a service is a distinct performance obligation, the Company determines whether the customer can benefit from the service on its own or with other readily available resources, and whether the service is separately identifiable from other services in the contract. This evaluation requires the Company to assess the nature of each individual service offering and how the services are provided in the context of the contract, including whether the services are significantly integrated, highly interrelated, or significantly modify each other, which may require judgment based on the facts and circumstances of the contract. When agreements involve multiple distinct performance obligations, the Company allocates arrangement consideration to all performance obligations at the inception of an arrangement based on the relative standalone selling prices ("SSP") of each performance obligation. Usage fees deemed to be variable consideration meet the allocation exception for variable consideration. Where the Company has standalone sales data for its performance obligations which are indicative of the price at which the Company sells a promised good or service separately to a customer, such data is used to establish SSP. In instances where standalone sales data is not available for a particular performance obligation, the Company estimates SSP by the use of observable market and cost-based inputs. The Company continues to review the factors used to establish list price and will adjust standalone selling price methodologies as necessary on a prospective basis. Service Revenue Service revenue from subscriptions to the Company's cloud-based technology platform is recognized ratably over the contractual subscription term, beginning on the date that the platform is delivered to the customer until the end of the contractual period. Payments received in advance of subscription services being rendered are recorded as deferred revenue; revenues recognized for services rendered in advance of payments received are recorded as contract assets. Usage fees, when bundled, are billed in advance and recognized over time on a ratable basis over the contractual subscription term, which is usually the monthly contractual billing period. Non-bundled usage fees are recognized as actual usage occurs. Other Revenue Other revenue comprises primarily of product revenue and professional services revenue. The Company recognizes product revenue for telephony equipment at the point in time when transfer of control has occurred, which is generally upon shipment. Sales returns are recorded as a reduction to revenue estimated based on historical experience. Professional services for deployment, configuration, system integration, optimization, customer training, or education are primarily billed on a fixed-fee basis and are performed by the Company directly. Professional services revenue is recognized as services are performed or upon completion of the deployment. Contract Assets Contract assets are recorded for contract consideration not yet invoiced but for which the performance obligations are completed. The revenue is recognized when the customer receives services or equipment for a reduced consideration at the onset of an arrangement, for example, when the initial month's services or equipment are discounted. Contract assets are included in other current assets or other assets in the Company's consolidated balance sheets, depending on if their reduction will be recognized during the succeeding twelve-month period or beyond. Deferred Revenue Deferred revenue represents billings or payments received in advance of revenue recognition and are recognized upon transfer of control. Balances consist primarily of annual plan subscription services and professional and training services not yet provided as of the balance sheet date. Revenue that will be recognized during the twelve month period in which the Company is providing services are recorded as deferred revenue, current in the consolidated balance sheets, with the remainder recorded as other liabilities, non-current in the Company's consolidated balance sheets. Deferred Sales Commission Costs Sales commissions are considered incremental and recoverable costs of acquiring customer contracts. These costs are capitalized as deferred sales commission costs and amortized on a straight-line basis over the anticipated benefit period of five years. The benefit period was estimated by taking into consideration the length of customer contracts, technology lifecycle, and other factors. This amortization expense is recorded in sales and marketing expense within the Company's consolidated statement of operations. The Company applies a practical expedient that permits it to apply an anticipated benefit period to a portfolio of contracts, instead of on a contract-by-contract basis, as they are similar in their characteristics, and the financial statement effects of that application to the portfolio would not differ materially from applying it to the individual contracts within that portfolio. CASH, CASH EQUIVALENTS, AND INVESTMENTS The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. Investments in debt securities are classified as available-for-sale and reported at fair value, based either upon quoted prices in active markets, quoted prices in less active markets, or quoted market prices for similar investments, with unrealized gains and losses, net of related tax, if any, included in other comprehensive income (loss) and disclosed as a separate component of stockholders' equity. Realized gains and losses on sales of all such investments are reported within the caption of other income (expense), net in the consolidated statements of operations and computed using the specific identification method. The Company classifies its investments as short-term or long-term based on the nature of the investments and their availability for use in current operations. The Company's investments in debt securities are monitored on a periodic basis for impairment. In the event the carrying value of an investment exceeds its fair value and the decline in value is determined to be other-than-temporary, an impairment charge is recorded and a new cost basis for the investment is established. These available-for-sale investments are primarily held in the custody of two major financial institutions. ALLOWANCE FOR CREDIT LOSSES The Company accounts for allowance for credit losses under the current expected credit loss (“CECL”) impairment model for its financial assets, including accounts receivable, and presents the net amount of the financial instrument expected to be collected. The CECL impairment model requires an estimate of expected credit losses, measured over the contractual life of an instrument, that considers forecasts of future economic conditions in addition to information about past events and current conditions. Based on this model, the Company estimates the amount of uncollectible accounts receivable at the end of each reporting period based on the aging of the receivable balance, current and historical customer trends, communications with its customers, and macro-economic conditions. Amounts are written off after considerable collection efforts have been made and the amounts are determined to be uncollectible. OPERATING LEASE, RIGHT-OF-USE ASSETS, AND LEASE LIABILITIES The Company primarily leases facilities for office and data center space under non-cancellable operating leases for its United States and international locations that expire at various dates through 2030. For leases with a term greater than 12 months, the Company recognizes a right-of-use asset and a lease liability based on the present value of lease payments over the lease term. Variable lease payments are not included in the lease payments to measure the lease liability and are expensed as incurred. The Company’s leases have remaining terms of one to nine years. Some of the leases include a Company option to extend the lease term for less than 12 months to five years, or more, which if reasonably certain to be exercised, the Company includes in the determination of lease payments. The lease agreements do not contain any material residual value guarantees or material restrictive covenants. As most of the Company's leases do not provide a readily determinable implicit rate, the Company uses its incremental borrowing rate at lease commencement, which is determined using a portfolio approach, based on the rate of interest that the Company would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. The Company uses the implicit rate when a rate is readily determinable. Operating lease expense is recognized on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are not recognized on the Company's consolidated balance sheets, and the expense for these short-term leases is recognized on a straight-line basis over the lease term. PROPERTY AND EQUIPMENT Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method. Estimated useful lives of three years are used for equipment, capitalized internal-use software, and software development costs, and five years for furniture and fixtures. Amortization of leasehold improvements is computed using the shorter of the remaining facility lease term or the estimated useful life of the improvements. Maintenance, repairs, and ordinary replacements are charged to expense. Expenditures for improvements that extend the physical or economic life of the property are capitalized. Gains or losses on the disposition of property and equipment are recorded in the consolidated statements of operations. Construction in progress primarily relates to costs to acquire or internally develop internal-use software not fully completed as of March 31, 2022 and 2021. CAPITALIZED INTERNAL-USE SOFTWARE COSTS Certain costs of software developed or obtained for internal use is capitalized during the application development stage. The Company begins to capitalize costs to develop software when preliminary development efforts are successfully completed, management has authorized and committed project funding, it is probable that the project will be completed, and the software will be used as intended. Capitalized internal-use software development costs are included in property and equipment. Once the project has been completed, these costs are amortized to cost of service revenue on a straight-line basis over the estimated useful life of the related asset, generally estimated to be three years. Costs incurred prior to meeting these criteria together with costs incurred for training and maintenance are expensed as incurred and recorded in research and development expense. The Company tests capitalized internal-use software development costs for impairment on an annual basis, or as events occur or circumstances change that could impact the recoverability of the capitalized costs. ACCOUNTING FOR LONG-LIVED ASSETS The Company reviews the recoverability of its long-lived assets, such as property and equipment, right-of-use assets, definite lived intangibles, or capitalized internal-use software costs, when events or changes in circumstances occur that indicate that the carrying value of the asset or asset group may not be recoverable. Examples of such events could include a disposal of a significant portion of such asset, an adverse change in the market involving the business employing the related asset, or a significant change in the operation or use of an asset. The assessment of possible impairment is based on the Company's ability to recover the carrying value of the asset or asset group from the expected future cash flows (undiscounted and without interest charges) of the related operations. If these cash flows are less than the carrying value of such asset or asset group, an impairment loss is recognized for the difference between estimated fair value and carrying value. The measurement of impairment requires management to estimate the fair value of long-lived assets and asset groups through future cash flows. GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill represents the excess fair value of consideration transferred over the fair value of net assets acquired in business combinations. Goodwill and intangible assets with indefinite useful lives are not amortized but are tested annually for impairment and more often if there is an indicator of impairment. The Company performs testing for impairment of goodwill on an annual basis, or as events occur or circumstances change that would more likely than not reduce the fair value of the Company’s single reporting unit below its carrying amount. Goodwill is considered impaired if the carrying value of the reporting unit exceeds its fair value. Intangible assets, consisting of acquired developed technology, domain names, and customer relationships, acquired in business combinations were initially measured at fair value and were determined to have definite lives. Thereafter, intangible assets are amortized on a straight-line basis over their estimated useful lives. Amortization expense related to developed technology is included in cost of revenue. Amortization expense related to customer relationships and domain names are included in sales and marketing expense. Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate an asset’s carrying value may not be recoverable. CONVERTIBLE SENIOR NOTES In accounting for the issuance of the 0.50% Convertible Senior Notes due 2024 (the "Initial Notes", the "First Additional Notes", and the "Second Additional Notes" collectively referred herein as the "Notes"), the Company separates the Notes into liability and equity components. The carrying amount of the liability component is calculated by measuring the fair value of similar debt instruments that do not have associated convertible features. The carrying amount of the equity component representing the conversion option is determined by deducting the fair value of the liability component from the par value of the respective Notes. The equity component is not remeasured as long as it continues to meet the condition for equity classification. The excess of the principal amount of the liability component over its carrying amount (“debt discount”) is amortized to interest expense over the term of the Notes. The Company allocates the issuance costs incurred to the liability and equity components of the Notes based on their relative fair values. Issuance costs attributable to the liability component were recorded as a reduction to the liability portion of the Notes and are amortized as interest expense over the term of the Notes. Issuance costs attributable to the equity component, representing the conversion option,are netted with the equity component in stockholders' equity. RESEARCH AND DEVELOPMENT EXPENSES Research and development expenses consist primarily of personnel and related costs, third-party development and related work, software and equipment costs necessary for us to conduct our product and platform development and engineering efforts, and allocated IT and facilities costs. Research and development costs are expensed as incurred. ADVERTISING COSTS Advertising costs are expensed as incurred and were $3.4 million, $9.0 million, and $32.2 million for the years ended March 31, 2022, 2021, and 2020, respectively. FOREIGN CURRENCY TRANSLATION The Company has determined that the functional currency of each of its foreign subsidiaries is the subsidiary's local currency. The Company believes that this most appropriately reflects the current economic facts and circumstances of the subsidiaries' operations. The assets and liabilities of the subsidiaries are translated at the applicable exchange rate as of the end of the balance sheet period and revenue and expense amounts are translated at an average rate over the period presented. Resulting currency translation adjustments are recorded as a component of accumulated other comprehensive income or loss within the stockholder's equity. SEGMENT INFORMATION The Company has determined that its chief executive officer is the chief operating decision maker (the "CODM"). The chief executive officer reviews financial information presented on a consolidated basis for purposes of assessing performance and making decisions on how to allocate resources. Following the acquisition of Fuze in the fourth quarter of fiscal 2022, the Company considered whether the CODM changed the manner in which financial results were reviewed. Financial results continue to be presented on a consolidated basis, and do not present separately the revenues and costs related to Fuze on a stand-alone basis. The Company continued to conclude that it has one reporting unit, and it operates in a single reportable segment. CONCENTRATIONS Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash and cash equivalents, investments, and trade accounts receivable. The Company has cash equivalents and investment policies that limit the amount of credit exposure to any one financial institution and restrict placement of these funds to financial institutions evaluated as highly credit-worthy. The Company has not experienced any material losses relating to its investments. The Company sells its products to customers and distributors. The Company performs credit evaluations of its customers' financial condition and generally does not require collateral from its customers. As of, and for the years ended, March 31, 2022 and 2021, no customer accounted for more than 10% of accounts receivable or revenues. The Company purchases all of its hardware products from suppliers that manufacture the hardware directly and from their distributors. The inability of any supplier to fulfill supply requirements of the Company could materially impact future operating results, financial position, or cash flows. The Company also relies primarily on third-party network service providers to provide telephone numbers and public switched telephone network ("PSTN") call termination and origination services for its customers. If these service providers failed to perform their obligations to the Company, such failure could materially impact future operating results, financial position, and cash flows. FAIR VALUE OF FINANCIAL INSTRUMENTS The Company defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal market or the most advantageous market in which it would transact. The Company maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. Observable inputs are inputs that reflect the assumptions market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company's assumptions about the factors that market participants would use in valuing the asset or liability developed based on the best information available in the circumstances. The standard establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value by requiring that the most observable inputs be used when available. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is as follows: • Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. • Level 2 applies to assets or liabilities for which there are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly, such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets). • Level 3 applies to assets or liabilities for which fair value is derived from valuation techniques in which one or more significant inputs are unobservable, including the Company's own assumptions. The estimated fair value of financial instruments is determined by the Company using available market information and valuation methodologies considered to be appropriate. The carrying amounts of the Company's cash and cash equivalents, accounts receivable, and accounts payable approximate their fair values due to their short maturities. The Company's investments are recorded at fair value and convertible senior notes payable are recorded at net carrying value. ACCOUNTING FOR STOCK-BASED COMPENSATION The Company accounts for the fair value of restricted stock units (“RSUs”) using the closing market price of the Company’s common stock on the date of the grant. For new-hire grants and annual refresh grants, one-third of the RSUs typically vest on the first anniversary of the grant date, and the remainder vest on a one-eighth basis quarterly over the subsequent two years. Stock-based compensation cost for RSUs is measured at the grant date based on the estimated fair value of the award and is recognized as expense over the requisite service period (generally the vesting period), net of forfeitures. The Company accounts for the fair value of performance stock units ("PSUs") using Monte Carlo simulations. The Company estimates the fair value of the rights to acquire stock under its 1996 Employee Stock Purchase Plan (the “ESPP”) using the Black-Scholes option pricing formula. The ESPP provides for consecutive six-month offering periods with a one-year lookback period and the Company uses its own historical volatility data in the valuation of shares that are purchased under the ESPP. COMPREHENSIVE LOSS Comprehensive loss, as defined, includes all changes in equity (net assets) during a period. The difference between net loss and comprehensive loss is due to foreign currency translation adjustments and unrealized gains or losses on investments classified as available-for-sale. NET LOSS PER SHARE Basic net loss per share is computed by dividing net loss available to common stockholders (numerator) by the weighted average number of vested, unrestricted common shares outstanding during the period (denominator). Diluted net loss per share is computed on the basis of the weighted average number of shares of common stock, plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method unless their effect is anti-dilutive. Dilutive potential common shares include outstanding stock options, ESPP, RSUs and PSUs. RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS In June 2016, the Financial Accounting Standards Board (the "FASB") issued ASU 2016‑13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, as amended, which replaces the existing impairment model with a forward-looking expected loss method. Under this update, on initial recognition and at each reporting period, an entity is required to recognize an allowance that reflects the entity's current estimate of credit losses expected to be incurred over the life of the financial instrument. For trade receivables, loans, and other financial instruments, an entity is required to use a forward-looking expected loss model to recognize credit losses that are probable. The Company adopted ASU 2016-13 on a modified retrospective basis as of April 1, 2020, through a cumulative-effect adjustment to the Company's beginning accumulated deficit balance; the impact of the adoption was not material to the Company's consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820), which makes modifications to disclosure requirements on fair value measurements. The Company adopted ASU 2018-13 on April 1, 2020. The impact of the adoption was immaterial to the Company's consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal Use Software (Subtopic 350-40), which reduces complexity for the accounting for costs of implementing a cloud computing service arrangement. The Company adopted this guidance on a prospective basis effective April 1, 2020. The impact of the adoption was immaterial to the Company's consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740), which enhances and simplifies various aspects of the income tax accounting guidance, including requirements such as tax basis step-up in goodwill obtained in a transaction that is not a business combination, ownership changes in investments, and interim-period accounting for enacted changes in tax law. The amendment will be effective for public companies with fiscal years beginning after December 15, 2020. The Company adopted this guidance on a prospective basis, effective April 1, 2021. The impact of the adoption was immaterial to the Company's consolidated financial statements. In October 2021, the FASB issued ASU 2021-08 Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which clarifies the accounting for acquired revenue contracts with customers in a business combination. ASU 2021-08 requires the acquirer of a business to measure contract assets and contract liabilities acquired in a business combination in accordance with ASC 606. The guidance is effective for interim and annual periods beginning after December 15, 2022, with early adoption permitted. Early adoption of the amendments is permitted, and an entity that early adopts should apply the amendments (1) retrospectively to all business combinations for which the acquisition date occurs on or after the beginning of the fiscal year that includes the interim period of early application and (2) prospectively to all business combinations that occur on or after the date of initial application. The Company early adopted ASU 2021-08, effective April 1, 2021 and applied the amendments prospectively. The impact of the adoption was immaterial to the Company's consolidated financial statements. RECENT ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions to GAAP guidance on contract modifications to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate ("LIBOR"), which is expected to be discontinued, to alternative reference rates. In January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848), which refines the scope of Topic 848 and clarifies some of its guidance. The Company has elected to apply the amendments prospectively from the first quarter of fiscal 2023. The impact of the adoption is expected to be immaterial to the Company's consolidated financial statements. In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40), which simplifies accounting for convertible instruments by eliminating two of the three accounting models available for convertible debt instruments and convertible preferred stock. The guidance also addresses how convertible instruments are accounted for in the diluted earnings per share calculation. The guidance is effective for fiscal years beginning after December 15, 2021, which is fiscal 2023 for the Company; early adoption is permitted. The Company is currently assessing the impact of this pronouncement on its consolidated financial statements.

REVENUE RECOGNITION

12 Months Ended

Mar. 31, 2022

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

Disaggregation of Revenue

The Company disaggregates its revenue by geographic region. See Note 11. Geographical Information.

Contract Balances

The following table provides amounts of receivables, contract assets, and deferred revenue from contracts with customers:


	March 31, 2022		March 31, 2021
Accounts receivable, net	$	57,400	$	51,150
Contract assets, current	10,514		12,840
Contract assets, non-current	15,171		17,987
Deferred revenue, current	34,262		20,737
Deferred revenue, non-current	11,430		2,999

Contract assets, current, contract assets, non-current, and deferred revenue, non-current are recorded on the Consolidated Balance Sheets in Other current assets, Other assets, and Other liabilities, non-current, respectively.

The change in contract assets was primarily driven by the recognition of revenue that has not yet been billed. The increase in deferred revenue was due to billings made in advance of performance obligations being satisfied. During the year ended March 31, 2022, the Company recognized revenues of approximately $15.2 million that were included in deferred revenue at the beginning of the fiscal year.

Remaining Performance Obligations

The Company's subscription terms typically range from one to five years. Contract revenue from the remaining performance obligations that had not yet been recognized as of March 31, 2022, was approximately $715.0 million. This amount excludes contracts with an original expected length of less than one year. The Company expects to recognize revenue on approximately 94% of the remaining performance obligations over the next 36 months and approximately 6% over the remainder of the subscription period.

As of March 31, 2021, the Company updated this disclosure to exclude contracts with an original expected length of less than one year. Previously, this disclosure excluded contracts with an original expected length of one year or less. As the new and renewal contracts the Company enters into with its customers are generally for terms of one year or longer, management determined that updating this disclosure to include contracts with a term of one year or more presents a more appropriate measure of the Company's remaining performance obligations.

Deferred Sales Commission Costs

Amortization of deferred sales commission costs for the years ended March 31, 2022, 2021, and 2020 was $34.7 million, $27.8 million, and $19.5 million, respectively. There were no material write-offs during the years ended March 31, 2022, 2021, and 2020.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 13
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

FAIR VALUE MEASUREMENTS

12 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

Cash, cash equivalents, and available-for-sale investments were as follows:


As of March 31, 2022	Amortized Costs		Gross Unrealized Gain		Gross Unrealized Loss		Estimated Fair Value		Cash and Cash Equivalents		Restricted Cash (Current & Non-current)		Short-Term Investments		Long-Term Investments
Cash	$	70,095					$	70,095	$	70,095	$	—	$	—	$	—
Level 1:
Money market funds	12,865						12,865		12,865		—		—		—
Treasury securities	4,573				(7)		4,566		—		—		4,566		—
Subtotal	87,533		—		(7)		87,526		82,960		—		4,566		—
Level 2:
Certificate of deposit	9,509						9,509		—		9,509		—		—
Commercial paper	23,950				(34)		23,916		7,445		—		16,471
Corporate debt	27,442				(163)		27,279		800		—		23,808		2,671
Subtotal	60,901		—		(197)		60,704		8,245		9,509		40,279		2,671
Total assets	$	148,434	$	—	$	(204)	$	148,230	$	91,205	$	9,509	$	44,845	$	2,671


As of March 31, 2021	Amortized Costs		Gross Unrealized Gain		Gross Unrealized Loss		Estimated Fair Value		Cash and Cash Equivalents		Restricted Cash (Current & Non-current)		Short-Term Investments		Long-Term Investments
Cash	$	39,070	$	—	$	—	$	39,070	$	39,070	$	—	$	—	$	—
Level 1:
Money market funds	67,712		—		—		67,712		67,712		—		—		—
Treasury securities	6,177		17		—		6,194		—		—		6,194		—
Subtotal	112,959		17		—		112,976		106,782		—		6,194		—
Level 2:
Certificate of deposit	8,641		—		—		8,641		—		8,641		—		—
Commercial paper	22,193		1		—		22,194		5,049		—		17,145		—
Corporate debt	17,656		42		—		17,698		700		—		16,998		—
Subtotal	48,490		43		—		48,533		5,749		8,641		34,143		—
Total assets	$	161,449	$	60	$	—	$	161,509	$	112,531	$	8,641	$	40,337	$	—

Certificate of deposit represents the Company's letter of credits securing leases for office facilities, the balance of which is included in Restricted cash, current and Restricted cash, non-current on the Company's Consolidated Balance Sheet.

The Company considers its investments available to support its current operations and has classified investments in debt securities as available-for-sale securities. The Company does not intend to sell any of its investments that are in unrealized loss positions and, as of March 31, 2022, has determined that it is not more likely than not that it will be required to sell any of these investments before recovery of the entire amortized cost basis.

The Company regularly reviews the changes to the rating of its securities at the individual security level by rating agencies and reasonably monitors the surrounding economic conditions to assess the risk of expected credit losses. As of March 31, 2022, the Company did not record any allowance for credit losses on its investments.

As of March 31, 2022 and 2021, the estimated fair value of the Company's Notes was $470.5 million and $502.9 million, respectively, which was determined based on the closing price for the Notes on the last trading day of the reporting period and is considered to be Level 2 in the fair value hierarchy due to limited trading activity of the Notes. See Note 7, Convertible Senior Notes and Capped Call.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

INTANGIBLE ASSETS AND GOODWILL

12 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS AND GOODWILL

The carrying value of intangible assets consisted of the following:


	March 31, 2022						March 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Technology	$	46,727	$	(19,852)	$	26,875	$	33,960	$	(21,458)	$	12,502
Customer relationships	105,827		(4,889)		100,938		11,969		(7,341)		4,628
Trade names and domains	583		(183)		400		988		(988)		—

Total acquired identifiable intangible assets	$	153,137	$	(24,924)	$	128,213	$	46,917	$	(29,787)	$	17,130

As of March 31, 2022, the weighted average remaining useful life for technology, customer relationships, and trade names and domains was 3.2 years, 8.7 years, and 0.8 years, respectively.

Amortization expense for related intangible assets was $8.3 million, $6.9 million, and $8.8 million for the years ended March 31, 2022, 2021, and 2020, respectively.

During the year ended March 31, 2022, the Company wrote off approximately $13.2 million of fully amortized intangible assets and the corresponding accumulated amortization. There were no such write offs during the year ended March 31, 2021.

At March 31, 2022, annual amortization of intangible assets, based upon existing intangible assets and current useful lives, is estimated to be the following:


	Amount
2023	$	21,101
2024	20,395
2025	19,095
2026	13,895
2027 and thereafter	53,727
Total	$	128,213

The following table provides a summary of the changes in the carrying amounts of goodwill:


	Total
Balance at March 31, 2020	$	128,300
Additions due to acquisitions	—
Foreign currency translation	3,220
Balance at March 31, 2021	131,520
Additions due to acquisitions	136,117
Foreign currency translation	(770)
Balance at March 31, 2022	$	266,867

The Company conducted its annual impairment tests of goodwill in the fourth quarters of fiscal years 2022, 2021, and 2020, and determined that no adjustment to the carrying value of goodwill was required.

LEASES

12 Months Ended

Mar. 31, 2022

Leases [Abstract]

LEASES

Operating Leases

The following table provides balance sheet information related to operating leases:


	March 31, 2022		March 31, 2021
Assets
Operating lease, right-of-use assets	$	63,415	$	66,664

Liabilities
Operating lease liabilities, current	$	15,485	$	12,942
Operating lease liabilities, non-current	74,518		82,456
Total operating lease liabilities	$	90,003	$	95,398

The components of lease expense were as follows:


	For the years ended March 31,
	2022	2021
Operating lease expense	13,482	$	15,210
Variable lease expense	3,837	2,462

Short-term lease expense was immaterial during the years ended March 31, 2022 and 2021.

Cash outflows from operating leases were $17.3 million and $9.9 million, respectively, for the years ended March 31, 2022 and 2021.

The following table presents supplemental lease information:

March 31, 2022

March 31, 2021

Weighted average remaining lease term

7.4 years

8.4 years

Weighted average discount rate

4.0%

The following table presents maturity of lease liabilities under the Company's non-cancellable operating leases as of March 31, 2022:


2023	$	18,692
2024	13,697
2025	12,537
2026	11,339
2027	10,032
Thereafter	38,617
Total lease payments	104,914
Less: imputed interest	(14,911)
Present value of lease liabilities	$	90,003

Lease Assignment

In the fourth quarter of fiscal 2018, the Company entered into a 132-month lease agreement (the "Agreement") with CAP Phase I, a Delaware limited liability company (the "Landlord"), to rent approximately 162,000 square feet of office space in a new building in San Jose, California. The lease term began on January 1, 2019. On April 30, 2019, due to the Company's rapid growth and greater than anticipated future space needs, the Company entered into an assignment and assumption (the "Assignment") of the Agreement with the Landlord and Roku Inc., a Delaware corporation ("Roku"), whereby the Company assigned to Roku the Agreement. Pursuant to the Assignment, the Company was released from all of its obligations under the lease and the related standby letter of credit, which is secured by restricted cash of $0.8 million, is expected to be released during the first quarter of fiscal 2023. The Company received the reimbursement of base rent and direct expenses of $6.4 million from Roku in the fourth quarter of fiscal 2021 in accordance with the Assignment. The obligations related to the Agreement were not included in the right-of-use asset or lease liabilities as of March 31, 2021. The remaining obligations related to the Assignment of $0.8 million, including the termination fee of $0.8 million, were recorded in Other accrued liabilities in the Company's consolidated balance sheet as of March 31, 2021. These obligations were subsequently paid during fiscal 2022, and there are no obligations remaining as of March 31, 2022.

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Indemnifications In the normal course of business, the Company may agree to indemnify other parties, including customers, lessors, and parties to other transactions with the Company with respect to certain matters, such as breaches of representations or covenants or intellectual property infringement or other claims made by third parties. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim. In addition, the Company has entered into indemnification agreements with its officers and directors. It is not possible to determine the maximum potential amount of the Company's exposure under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Historically, payments made by the Company under these agreements have not had a material impact on the Company's operating results, financial position, or cash flows. Under some of these agreements, however, the Company's potential indemnification liability might not have a contractual limit. Operating Leases The Company's lease obligations consist of the Company's principal facility and various leased facilities under operating lease agreements. See Note 5. Leases for more information on the Company's leases and the future minimum lease payments. Purchase Obligations The Company's purchase obligations include contracts with third-party customer support vendors and third-party network service providers. These contracts include minimum monthly commitments and the requirements to maintain the service level for several months. The total contractual minimum commitments were approximately $33.5 million as of March 31, 2022. Legal Proceedings The Company may be involved in various claims, lawsuits, investigations, and other legal proceedings, including intellectual property, commercial, regulatory compliance, securities, and employment matters that arise in the normal course of business. The Company determines whether an estimated loss from a contingency should be accrued by assessing whether a loss is deemed probable and can be reasonably estimated. The Company regularly evaluates current information to determine whether any accruals should be adjusted and whether new accruals are required. Actual claims could settle or be adjudicated against the Company in the future for materially different amounts than the Company has accrued due to the inherently unpredictable nature of litigation. Legal costs are expensed as incurred. The Company believes it has recorded adequate provisions for any such lawsuits and claims and proceedings as of March 31, 2022. The Company believes that damage amounts claimed in these matters are not meaningful indicators of potential liability. Some of the matters pending against the Company involve potential compensatory, punitive, or treble damage claims or sanctions, that, if granted, could require the Company to pay damages or make other expenditures in amounts that could have a material adverse effect on its Consolidated Financial Statements. Given the inherent uncertainties of litigation, the ultimate outcome of the ongoing matters described herein cannot be predicted, and the Company believes it has valid defenses with respect to the legal matters pending against it. Nevertheless, the Consolidated Financial Statements could be materially adversely affected in a particular period by the resolution of one or more of these contingencies. Wage and Hour Litigation. On September 21, 2020, the Company received a copy of a letter filed by a former employee, Plaintiff Denise Rivas, with the California Labor and Workforce Development Agency (“LWDA”) providing notice of the Plaintiff’s intent to bring a Private Attorney General Act (“PAGA”) claim, on behalf of the Company’s non-exempt employees based in California, for alleged California wage and hour practices violations. On September 25, 2020, the Plaintiff filed a separate class action complaint (the “Class Complaint”) in Santa Clara County Superior Court against the Company in which she alleges 10 causes of action, on behalf of herself and all of the Company’s non-exempt employees based in California for the last four years, related to violations of California state wage and hour practices and the federal Fair Credit Reporting Act. The Class Complaint was served on the Company on September 29, 2020. On October 28, 2020, the Company filed a general denial of all claims and asserted various affirmative defenses. On October 29, 2020, the Company removed the matter to Federal Court. On December 1, 2020, Plaintiff filed a companion PAGA lawsuit complaint (the “PAGA Complaint”) in Santa Clara County Superior Court against the Company, in which she alleges 6 violations of California state wage and hour practices for all of the Company's current and former non-exempt employees based in California from September 16, 2019 to the present. The PAGA Complaint was served on the Company on December 11, 2020. On January 26, 2021, the Company filed a general denial of all claims and asserted various affirmative defenses to the PAGA Complaint. Both actions were scheduled for a joint mediation in September 2021, and discovery was stayed in both actions pending completion of the mediation. On January 26, 2021, the Company filed a general denial of all claims and asserted various affirmative defenses to the PAGA Complaint. A joint mediation for both actions was held in September 2021 and the parties reached a preliminary settlement of all claims, which was finalized on November 23, 2021. The parties have remanded the Class Complaint matter to Santa Clara County Superior Court in order to consolidate the matter with PAGA Complaint matter for court approval and administration of the settlement. Plaintiff has filed an unopposed motion for preliminary approval of the settlement on May 17, 2022, in advance of the parties’ June 9, 2022 hearing before the Santa Clara County Superior Court. State and Local Taxes and Surcharges From time to time, the Company has received inquiries from a number of state and local taxing agencies with respect to the remittance of sales, use, telecommunications, excise, and income taxes. Several jurisdictions currently are conducting tax audits of the Company's records. The Company collects or has accrued for taxes that it believes are required to be remitted. The amounts that have been remitted have historically been within the accruals established by the Company. The Company adjusts its accrual when facts relating to specific exposures warrant such adjustment. During the second quarter of fiscal 2019, the Company conducted a periodic review of the taxability of its services and determined that certain services may be subject to sales, use, telecommunications or other similar indirect taxes in certain jurisdictions. A similar review was performed on the taxability of services provided by Fuze and it was determined that certain services may be subject to sales, use, telecommunications or other similar indirect taxes in certain jurisdictions. Accordingly, the Company recorded contingent indirect tax liabilities. As of March 31, 2022 and 2021, the Company had accrued contingent indirect tax liabilities of $17.2 million and $3.1 million, respectively.

CONVERTIBLE SENIOR NOTES AND CAPPED CALL

12 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

CONVERTIBLE SENIOR NOTES AND CAPPED CALL

Convertible Senior Notes

In February 2019, the Company issued $287.5 million aggregate principal amount of 0.50% convertible senior notes (the "Initial Notes") due 2024 in a private placement, including the exercise in full of the initial purchasers' option to purchase additional notes. The total net proceeds from the debt offering, after deducting initial purchase discounts, debt issuance costs, and costs of the capped call transactions described below, were approximately $245.8 million.

In November 2019, the Company issued an additional $75.0 million aggregate principal amount of 0.50% convertible senior notes (the "First Additional Notes") due 2024 in a registered offering under the same indenture as the Initial Notes. The total net proceeds from the First Additional Notes, after deducting initial purchase discounts, debt issuance costs and costs of the capped call transactions described below, were approximately $64.6 million.

In December 2021, the Company issued an additional $137.5 million aggregate principal amount of its currently outstanding 0.50% convertible senior notes (the "Second Additional Notes", and together with the Initial Notes and the First Additional Notes, the "Notes") due 2024 in a private placement under the same indenture as the Initial Notes and the First Additional Notes. The total net proceeds from the Second Additional Notes, after deducting initial purchase discounts and debt issuance costs, were approximately $134.3 million. The Company did not enter into any capped calls in connection with this transaction. Both the First Additional Notes and Second Additional Notes constitute a further issuance of, and form a single series with, the Initial Notes. Immediately after giving effect to the issuance of the Second Additional Notes, the Company had $500.0 million aggregate principal amount of convertible senior notes.

The Notes are senior unsecured obligations of the Company and interest is payable semiannually in arrears on February 1 and August 1 of each year, beginning on August 1, 2019. The Notes will mature on February 1, 2024, unless earlier repurchased, redeemed, or converted.

Each $1,000 principal amount of the Notes is initially convertible into 38.9484 shares of the Company’s common stock, par value $0.001, which is equivalent to an initial conversion price of approximately $25.68 per share. The conversion rate is subject to adjustment upon the occurrence of certain specified events but will not be adjusted for any accrued and unpaid interest. In addition, upon the occurrence of certain corporate events that occur prior to the maturity date or following the Company's issuance of a notice of redemption, in each case as described in the Indenture, the Company will, in certain circumstances, increase the conversion rate for a holder that elects to convert its Notes in connection with such a corporate event or during the relevant redemption period.

Prior to the close of business on the business day immediately preceding October 1, 2023, the Notes will be convertible only under the following circumstances:

1.At any time during any calendar quarter commencing after the fiscal quarter ending on June 30, 2019 (and only during such calendar quarter), if the last reported sale price of the common stock for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day;

2.During the five business day period immediately after any ten consecutive trading day period (the measurement period), if the trading price per $1,000 principal amount of the Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the common stock on each such trading day and the conversion rate on each such trading day;

3.If the Company calls any or all of the Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date; or

4.Upon the occurrence of specified corporate events (as set forth in the indenture governing the Notes).

On or after October 1, 2023, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert all or any portion of their Notes, regardless of the foregoing circumstances. Upon conversion, the Company will satisfy its conversion obligation by paying or delivering, as the case may be, cash, shares of common stock, or a combination of cash and shares of common stock, at the Company's election. The Company’s current intent is to settle the principal amount of the Notes in cash upon conversion. During the year ended March 31, 2022, the conditions allowing holders of the Notes to convert were not met.

The Company may not redeem the Notes prior to February 4, 2022. On or after February 4, 2022, the Company may redeem for cash all or part of the Notes at the redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest, if the last reported sale price of the common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides a redemption notice. If a fundamental change (as defined in the indenture governing the notes) occurs at any time, holders of Notes may require the Company to repurchase for cash all or any portion of their Notes at a repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date.

The Notes are senior unsecured obligations and will rank senior in right of payment to any of the Company’s indebtedness that is expressly subordinated in right of payment to the Notes; equal in right of payment with the Company’s existing and future liabilities that are not so subordinated; effectively junior in right of payment to any of the Company’s secured indebtedness to the extent of the value of the assets securing such indebtedness; and structurally junior to all indebtedness and other liabilities (including trade payables) of current or future subsidiaries of the Company.

Upon issuance, the Company separated the Notes into liability and equity components. The carrying amount of the liability component was calculated by measuring the fair value of similar debt instruments, which do not have an associated convertible feature. The carrying amounts of the equity components representing the conversion option for the Initial Notes, First Additional Notes, and Second Additional Notes were $64.9 million, $12.4 million, and $15.6 million respectively, and were determined by deducting the fair value of the liability component from the par value of the Notes. The equity components are not remeasured as long as they continue to meet the condition for equity classification. The excess of the principal amounts of the liability

components over the carrying amounts (“debt discount”) in connection with the Initial Notes and the First Additional Notes and Second Additional Notes are amortized to interest expense at the effective interest rates of 6.5% and 5.3%, respectively, over the terms of the Notes.

The Company allocated the total issuance cost incurred to the liability and equity components of the Notes based on their relative value. Issuance costs attributable to the liability component were recorded as reduction to the liability portion of the Notes and are being amortized to interest expense over the terms of the Notes. Issuance costs attributable to the equity component were netted with the equity component in stockholders’ equity.

The following table presents the net carrying amount and fair value of the liability component of the Notes:


	March 31, 2022		March 31, 2021
Principal	$	500,000	$	362,500
Unamortized debt discount	(48,657)		(53,323)
Unamortized issuance costs	(3,891)		(742)

Net carrying amount	$	447,452	$	308,435

Unamortized debt discount and issuance costs will be amortized over the remaining life of the Notes, which is approximately 22 months.

Interest expense recognized related to the Notes was as follows:


	For the years ended March 31,
	2022		2021
Contractual interest expense	$	2,271	$	1,813
Amortization of debt discount	20,105		16,664
Amortization of issuance costs	299		234
Total interest expense	$	22,675	$	18,711

Capped Call

In connection with the pricing of the Initial and First Additional Notes, the Company entered into privately negotiated capped call transactions (the "Capped Calls") with certain counterparties. The Capped Calls each have an initial strike price of approximately $25.68 per share, subject to certain adjustments, which correspond to the initial conversion price of the Initial and First Additional Notes. The Capped Calls have initial cap prices of $39.50 per share, subject to certain adjustments. The Capped Calls are expected to partially offset the potential dilution to the Company’s Common Stock upon any conversion of the Initial and First Additional Notes, with such offset subject to a cap based on the cap price. The Capped Calls cover, subject to anti-dilution adjustments, approximately 14.1 million shares of the Company’s Common Stock. The Capped Calls are subject to adjustment upon the occurrence of specified extraordinary events affecting the Company, including merger events, tender offers, and announcement events. In addition, the Capped Calls are subject to certain specified additional disruption events that may give rise to a termination of the Capped Calls, including nationalization, insolvency or delisting, changes in law, failures to deliver, insolvency filings, and hedging disruptions. For accounting purposes, the Capped Calls are separate transactions, and not part of the terms of the Initial and First Additional Notes. As these transactions meet certain accounting criteria, the Capped Calls are recorded in stockholders' equity and are not accounted for as derivatives. The costs of $33.7 million incurred to purchase the Capped Calls in connection with the Initial Notes and $9.3 million in connection with the First Additional Notes were recorded as a reduction to additional paid-in capital and will not be remeasured.

The net impact to the Company’s stockholders’ equity, included in additional paid-in capital, relating to the issuance of the Initial and First Additional Notes and Second Additional Notes was as follows:


	Second Additional Notes		First Additional Notes		Initial Notes
Conversion option	$	15,960	$	12,810	$	66,700
Payments for capped call transactions	$	—	$	(9,288)	$	(33,724)
Issuance costs	$	(361)	$	(436)	$	(1,848)
Total	$	15,599	$	3,086	$	31,128

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
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+ Details

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY

12 Months Ended

Mar. 31, 2022

Equity [Abstract]

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY2006 Stock Plan

In May 2006, the Company's board of directors approved the 2006 Stock Plan (the "2006 Plan"). The Company's stockholders subsequently adopted the 2006 Plan in September 2006, which became effective in October 2006. The Company reserved 7.0 million shares of the Company's common stock for issuance under this plan. The 2006 Plan provides for granting incentive stock options to employees and non-statutory stock options to employees, directors or consultants. The stock option price of incentive stock options granted may not be less than the fair market value on the effective date of the grant. Other types of options and awards under the 2006 Plan may be granted at any price approved by the administrator, which generally will be the compensation committee of the board of directors. Options generally vest over four years and expire ten years after grant. In 2009, the 2006 Plan was amended to provide for the granting of stock purchase rights. The 2006 Plan expired in May 2016. As of March 31, 2022, there were no shares available for future grants under the 2006 Plan.

2012 Equity Incentive Plan

In June 2012, the Company's board of directors approved the 2012 Equity Incentive Plan (the "2012 Plan"). The Company's stockholders subsequently adopted the 2012 Plan in July 2012, which became effective in August 2012. The Company reserved 4.1 million shares of the Company's common stock for issuance under this plan. In August 2014, 2016, 2018 and 2019, the 2012 Plan was amended to allow for an additional 6.8 million shares, 4.5 million shares, 16.3 million shares, and 12.0 million shares reserved for issuance, respectively. The 2012 Plan provides for granting incentive stock options to employees and non-statutory stock options to employees, directors or consultants, and granting of stock appreciation rights, restricted stock, restricted stock units and performance units, qualified performance-based awards, and stock grants. The stock option price of incentive stock options granted may not be less than the fair market value on the effective date of the grant. Other types of options and awards under the 2012 Plan may be granted at any price approved by the administrator, which generally will be the compensation committee of the board of directors. Options, restricted stock, and restricted stock units generally vest over three or four years and expire ten years after grant. The 2012 Plan expires in June 2022. As of March 31, 2022, 8.7 million shares remained available for future grants under the 2012 Plan.

2013 New Employee Inducement Incentive Plan

In September 2013, the Company's board of directors approved the 2013 New Employee Inducement Incentive Plan (the "2013 Plan"). The Company reserved 1.0 million shares of the Company's common stock for issuance under this plan. In November 2014, the 2013 Plan was amended to allow for an additional 1.2 million shares reserved for issuance. In July 2015, the 2013 Plan was amended to allow for an additional 1.2 million shares reserved for issuance. In connection with its approval of the August 2016 amendments to the 2012 Plan, the Board of Directors has approved the suspension of future grants under the 2013 Plan, which became effective immediately upon stockholder approval of the proposed 2012 Plan amendments in August 2016. In addition, the 2013 Plan was amended to reduce the number of shares reserved for issuance under the 2013 Plan to the number of shares that are then subject to outstanding awards under the 2013 Plan, leaving no shares available for future grant. The 2013 Plan provided for granting non-statutory stock options, stock appreciation rights, restricted stock, restricted stock and performance units, and stock grants solely to newly hired employees as a material inducement to accepting employment with the Company. Options were granted at market value on the grant date under the 2013 Plan, unless determined otherwise at the time of grant by the administrator, which generally will be the compensation committee of the board of directors. Grants generally vest over four years and expire ten years after grant.

2017 New Employee Inducement Incentive Plan

In October 2017, the Company's board of directors approved the 2017 New Employee Inducement Incentive Plan (the "2017 Plan"). The Company reserved 1.0 million shares of the Company's common stock for issuance under this plan. In January 2018, the 2017 Plan was amended to allow for an additional 1.5 million shares to be reserved for issuance. In December 2020, the 2017 Plan was further amended to allow for an additional 1.4 million shares to be reserved for issuance. In February 2022, the 2017 Plan was further amended to allow for an additional 1.5 million shares to be reserved for issuance. The 2017 Plan provides for granting non-statutory stock options, stock appreciation rights, restricted stock, and performance units and stock grants solely to newly hired employees as a material inducement to accepting employment with the Company. Options are granted at market value on the grant date under the 2017 Plan, unless determined otherwise at the time of grant by the administrator, which generally will be the compensation committee of the board of directors. Grants generally vest over three years and expire ten years after grant. As of March 31, 2022, 1.4 million shares remained available for future grants under the 2017 plan.

Stock-Based Compensation

The following table presents stock-based compensation expense:


	Years Ended March 31,
	2022		2021		2020
Cost of service revenue	$	8,815	$	8,811	$	5,330
Cost of other revenue	4,717		4,384		3,051
Research and development	32,655		31,641		19,712
Sales and marketing	47,202		33,869		20,205
General and administrative	39,942		28,933		22,580
Total	$	133,331	$	107,638	$	70,878

Stock Options

The following table presents the stock option activity during the years ended March 31, 2022, 2021, and 2020 (shares in thousands):


	Number of Shares	Weighted Average Exercise Price Per Share
Outstanding at March 31, 2019	3,114	$	9.45
Granted	—	—
Exercised	(785)	8.77
Canceled/Forfeited	(55)	17.01
Outstanding at March 31, 2020	2,274	9.50

Exercised	(426)	8.67
Canceled/Forfeited	(35)	22.05
Outstanding at March 31, 2021	1,813	9.46

Exercised	(915)	7.89
Canceled/Forfeited	(31)	21.90
Outstanding at March 31, 2022	867	10.67

Vested and expected to vest March 31, 2022	867	10.67
Exercisable at March 31, 2022	861	$	10.60

The total intrinsic value of options exercised in the years ended March 31, 2022, 2021, and 2020, was $15.3 million, $8.0 million and $10.1 million, respectively.

As of March 31, 2022, there was $41,000 of total unrecognized compensation cost related to stock options, which is expected to be recognized over a weighted average period of approximately 0.4 years.

The Company did not grant any stock options during fiscal years 2022, 2021, or 2020.

The fair value of each of the Company's option grants has been estimated on the date of grant using the Black-Scholes pricing model. No option grants were made in the fiscal years 2022, 2021 or 2020.

Stock Purchase Rights

There were no activities related to stock purchase rights during the years ended March 31, 2022, 2021, and 2020.

As of March 31, 2022, there was no unrecognized compensation cost related to stock purchase rights.

Restricted Stock Units

The following table presents the RSU activity during the years ended March 31, 2022, 2021, and 2020 (shares in thousands):


	Number of Shares	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (in Years)
Balance at March 31, 2019	6,836	$	17.45	2.38
Granted	5,592	20.50
Vested and released	(2,771)	16.87
Forfeited	(1,545)	19.13
Balance at March 31, 2020	8,112	19.43		1.96
Granted	6,256	18.73
Vested and released	(4,579)	18.90
Forfeited	(1,143)	18.96
Balance at March 31, 2021	8,646	19.27		1.85
Granted	8,333	21.37
Vested and released	(5,146)	19.82
Forfeited	(2,458)	20.85
Balance at March 31, 2022	9,375	$	20.41	2.11

As of March 31, 2022, there was $119.5 million of total unrecognized compensation cost related to RSUs.

During fiscal 2022 and 2021, the Company offered its employees an opportunity to receive a portion of their future cash salary and bonus for the year in shares of the Company's common stock, which resulted in the release of approximately 298,414 shares during the year.

Performance Stock Units

PSUs are issued to a group of executives with vesting that is contingent on both market performance and continued service. The PSUs generally vest over periods ranging from one to three years based on Total Shareholder Return ("TSR"), as measured relative to specified market indices during the period from grant date through vesting date. A 2x multiplier will be applied for each percentage point of positive or negative relative TSR, such that the number of shares of common stock earned will increase or decrease by 2% of the target number of shares, subject to a maximum of 200% of the target number of shares. In the event that the Company’s relative TSR performance is less than negative 30%, relative to the specified index, no shares will be earned for the applicable performance period. All PSU awards vest at the end of the respective performance periods, for those executives with continued service.

The following table presents the PSU activity during the years ended March 31, 2022, 2021, and 2020 (shares in thousands):


	Number of Shares	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (in Years)
Balance at March 31, 2019	984	$	19.23	1.39
Granted	293	21.40
Granted for performance achievement1	547	21.40
Vested and released	(673)	17.61
Forfeited	(72)	17.52
Balance at March 31, 2020	1,079	22.05		1.40
Granted	1,013	29.00
Granted for performance achievement1	43	29.00
Vested and released	(350)	19.05
Forfeited	(209)	22.38
Balance at March 31, 2021	1,576	27.33		1.24
Granted	497	30.41
Granted for performance achievement1	20	30.41
Vested and released	(250)	17.15
Forfeited	(817)	23.45
Balance at March 31, 2022	1,026	35.36		0.89

1 Represents additional PSUs awarded as a result of the achievement of performance goals above the performance targets established at grant.

As of March 31, 2022, there was $26.1 million of total unrecognized compensation cost related to PSUs.

The PSUs granted were valued for compensation expense purposes at weighted average share price determined by the Monte Carlo simulations using volatility factors and risk-free rates as follows:


Year ended March 31,	Value per Weighted Average Share		Volatility Range			Risk Free Interest Rate Range
2022	$	30.98	58.65%	—	59.67%	0.34%	—	0.40%
2021	$	29.07	55.66%	—	60.68%	0.15%	—	0.18%

1996 Employee Stock Purchase Plan

The Company's Amended and Restated 1996 Stock Purchase Plan (the "Employee Stock Purchase Plan") was adopted in June 1996 and became effective upon the closing of the Company's initial public offering in July 1997. In May 2006, the Company's board of directors approved a ten-year extension of the Employee Stock Purchase Plan. Stockholders approved the ten-year extension of the Employee Stock Purchase Plan at the 2006 Annual Meeting of Stockholders held September 2006. The Board of Directors then approved the Second Amended and Restated 1996 Stock Purchase Plan in May 2017 which (i) eliminated the expiration date of the plan and (ii) approved a ten-year “evergreen provision” which would increase annually the number of shares available for issuance by up to 500,000 on the first day of each fiscal year. Stockholders approved these changes in August 2017. In May 2020, the Company’s board of directors approved the Amended and Restated 1996 Employee Stock Purchase Plan which (i) eliminated the “evergreen provision” and (ii) reserved for issuance 3,000,000 additional shares. At the

2020 Annual Meeting of Stockholders in August, these changes were approved. As a result of these amendments, the Employee Stock Purchase Plan is effective until terminated by the board of directors. During fiscal 2022, 2021 and 2020, approximately 0.7 million, 0.7 million, and 0.6 million shares, respectively, were issued under the Amended and Restated Employee Stock Purchase Plan.

The Employee Stock Purchase Plan permits eligible employees to purchase common stock through payroll deductions at a price equal to 85% of the fair market value of the common stock at the beginning of each one-year offering period or the end of each six month purchase period, whichever is lower. When the Employee Stock Purchase Plan was reinstated in fiscal 2005, the offering period was reduced from two years to one year. Commencing with the purchase period beginning in August 2020, the contribution amount may not exceed 20% of an employee's base compensation, including commissions and standard incentive cash bonuses, but not including non-standard bonuses and overtime wages. Prior to the August 2020 purchase period, the contribution amount was limited to 10% of an employee's base compensation, including commissions, but not including bonuses and overtime wages. In the event of a merger of the Company with or into another corporation or the sale of all or substantially all of the assets of the Company, the Employee Stock Purchase Plan provides that a new exercise date will be set for each purchase right under the plan which exercise date will occur before the date of the merger or asset sale.

As of March 31, 2022, there was approximately $3.6 million of unrecognized compensation cost related to employee stock purchases. This cost is expected to be recognized over a weighted average period of 0.54 years.

The estimated fair value of stock purchase rights granted under the Employee Stock Purchase Plan was estimated using the Black-Scholes pricing model with the following weighted-average assumptions:


	Years Ended March 31,
	2022	2021	2020
Expected volatility	45%	84%	32%
Expected dividend yield	—	—	—
Risk-free interest rate	0.57%	0.11%	1.79%
Weighted average expected term (in years)	0.8 years	0.7 years	0.7 years
Weighted average fair value of rights granted	$5.81	$8.00	$5.66

Stock Repurchases

In May 2017, the Company's board of directors authorized the Company to purchase $25.0 million of its common stock from time to time under the 2017 Repurchase Plan (the "Repurchase Plan"). The Repurchase Plan expires when the maximum purchase amount is reached, or upon the earlier revocation or termination by the board of directors. The remaining amount available under the Repurchase Plan as of March 31, 2022 was approximately $7.1 million.

In December 2021, in a private placement, the Company's board of directors authorized the Company to repurchase approximately $45.0 million of its common stock from certain qualified investors in connection with the issuance of $137.5 million in additional aggregate principal amount of its 0.50% Convertible Senior Notes due 2024.

INCOME TAXES

12 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXESFor the years ended March 31, 2022, 2021, and 2020, the Company recorded a benefit for income taxes of $0.4 million, provision for income taxes of $0.8 million, and $0.8 million, respectively. For the year ended March 31, 2022, the Company recorded a deferred tax benefit of $1.2 million related to the release of an existing valuation allowance as a result of change in circumstances caused by the acquisition of Fuze. The components of the consolidated provision for income taxes for fiscal 2022, 2021, and 2020 consisted of the following:


	March 31,
Current:	2022		2021		2020
Federal	$	—	$	—	$	—
State	145		31		185
Foreign	721		812		647
Total current tax provision	866		843		832
Deferred
Federal	(984)		—		—
State	(269)		—		—
Foreign	—		—		—
Total deferred tax provision	(1,253)		—		—
Income tax (benefit) provision	$	(387)	$	843	$	832

The Company's loss from continuing operations before income taxes included $12.9 million, $15.3 million, and $9.0 million of foreign subsidiary income for the years ended March 31, 2022, 2021, and 2020, respectively. The Company is permanently reinvesting the earnings of its profitable foreign subsidiaries. The Company intends to reinvest these profits in expansion of overseas operations. If the Company were to remit these earnings, the tax impact would be immaterial.

Deferred tax assets and (liabilities) were comprised of the following:


	March 31,
	2022		2021
Deferred tax assets
Net operating loss carryforwards	$	350,242	$	145,655
Research and development and other credit carryforwards	26,127		22,794
Stock-based compensation	14,877		12,669
Reserves and allowances	23,880		6,198
Lease liability	20,614		22,424
Fixed assets and intangibles	836		6,091
Gross deferred tax assets	436,576		215,831
Valuation allowance	(349,093)		(160,450)
Total deferred tax assets	$	87,483	$	55,381
Deferred tax liabilities
Intangibles	(28,529)		—
Deferred sales commissions	(32,857)		(27,166)
Convertible debt	(12,066)		(12,695)
Lease asset	(14,145)		(15,520)
Net deferred taxes	$	(114)	$	—

The Company assesses the realizability of deferred tax assets based on the available evidence, including a history of taxable income and estimates of future taxable income. In assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that all or some portion of deferred tax assets will not be realized. For the year ended March 31, 2022, the Company continues to maintain a full valuation allowance against its deferred tax assets as it considered the cumulative losses in recent periods to be substantial negative evidence. At March 31, 2022, management determined that a valuation allowance of approximately $349.1 million was needed, compared with approximately $160.5 million as of March 31, 2021.

At March 31, 2022, the Company had federal net operating loss carryforwards of approximately $1,322.1 million, of which $490.5 million are related to years prior to fiscal 2019 and begin to expire in 2023. The remaining $831.6 million carry forward indefinitely. As of March 31, 2022, the Company has state net operating loss carry-forwards of $1,067.9 million, which expire at various dates between 2023 and 2042. In addition, at March 31, 2022, the Company had research and development credit carryforwards for federal and California tax reporting purposes of approximately $17.3 million and $19.6 million, respectively. The federal income tax credit carryforwards will expire at various dates between 2023 and 2042, while the California income tax credits will carry forward indefinitely. A reconciliation of the Company's provision (benefit) for income taxes to the amounts computed using the statutory United States federal income tax rate is as follows:


	Years Ended March 31,
	2022		2021		2020
Tax benefit at statutory rate	$	(36,909)	$	(34,492)	$	(36,163)
State income taxes before valuation allowance, net of federal effect	(7,754)		(7,445)		(7,680)
Foreign tax rate differential	(2,056)		(2,206)		(1,422)
Research and development credits	(3,362)		(4,078)		(3,892)
Change in valuation allowance	49,620		47,225		51,741
Compensation/option differences	(6,788)		(5,045)		(6,584)
Non-deductible compensation	7,606		6,194		3,017
Other	(744)		690		1,815
Total income tax provision (benefit)	$	(387)	$	843	$	832

For the years ended March 31, 2022, 2021, and 2020, the statutory federal rate of 21% was used.

The Company recognizes the tax benefit from uncertain tax positions if it is more likely than not that the tax positions will be sustained on examination by the tax authorities, based on the technical merits of the position. The tax benefit is measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


	Unrecognized Tax Benefits
	2022		2021		2020
Balance at beginning of year	$	7,053	$	6,115	$	5,033
Gross increases - tax position in prior period	1,918		—		—
Gross increases - tax position related to the current year	951		1,140		1,082
Settlements	(63)		—		—
Lapse of statute of limitations	(19)		(202)		—
Currency	10		—		—
Balance at end of year	$	9,850	$	7,053	$	6,115

At March 31, 2022, the Company had unrecognized tax benefits of $9.9 million, all of which, if recognized, would favorably affect the company's effective tax rate. The Company does not expect its unrecognized tax benefits to change significantly over the next 12 months.

The Company's policy for recording interest and penalties associated with tax examinations is to record such items as a component of operating expense income before taxes. For the year ended March 31, 2022, the Company recognized $0.2 million in penalty and interest related to unrecognized tax benefits. During the years ended March 31, 2021 and 2020, the Company did not recognize any interest or penalties related to unrecognized tax benefits.

Utilization of the Company's net operating loss and tax credit carryforwards can become subject to a substantial annual limitation due to the ownership change limitations provided by Section 382 of the Internal Revenue Code and similar state provisions. Such an annual limitation could result in the expiration or elimination of the net operating loss and tax credit carryforwards before utilization. The Company has performed an analysis of its changes in ownership under Section 382 of the Internal Revenue Code. The Company currently believes that the Section 382 limitation will not limit utilization of the carryforwards prior to their expiration, with the exception of certain acquired loss and tax credit carryforwards.

The Company files United States federal and state income tax returns in jurisdictions with varying statutes of limitations. Due to the Company’s net operating loss and tax credit carryforwards, the fiscal years 2002 and forward generally remain subject to examination by federal and most state tax authorities.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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+ Details

NET LOSS PER SHARE

12 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

NET LOSS PER SHARE

The following is a reconciliation of the weighted average number of common shares outstanding used in calculating basic and diluted net loss per share (dollars in thousands, except per share data):


	For the years ended March 31,
	2022		2021		2020
Net loss	$	(175,383)	$	(165,585)	$	(172,368)
Weighted average common shares outstanding - basic and diluted (in thousands)	113,354		105,700		99,999

Net loss per share - basic and diluted	$	(1.55)	$	(1.57)	$	(1.72)

The following potentially dilutive common shares were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive (shares in thousands):


	For the years ended March 31,
	2022	2021	2020
Stock options	867	1,813	2,274
Restricted stock units and Performance stock units	10,401	10,221	9,191
Potential shares attributable to the ESPP	761	555	582

Total anti-dilutive shares	12,029	12,589	12,047

GEOGRAPHICAL INFORMATION

12 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

GEOGRAPHICAL INFORMATION

The following tables set forth the geographic information for each period:


	Revenue for the Years Ended March 31,
	2022		2021		2020
United States	$	443,118	$	390,758	$	350,368
International	195,012		141,586		95,869
Total revenue	$	638,130	$	532,344	$	446,237


	Property and Equipment as of March 31,
	2022		2021
United States	$	73,967	$	87,945
International	5,049		5,131
Total property and equipment, net	$	79,016	$	93,076

- 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.

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

ACQUISITIONS

12 Months Ended

Mar. 31, 2022

Business Combination and Asset Acquisition [Abstract]

ACQUISITIONS

Wavecell

On July 17, 2019, the Company acquired Wavecell, by acquiring all of the outstanding shares for a total purchase price of $117.1 million, comprising of $72.8 million in cash and $44.3 million in shares of the common stock of the Company . The acquisition was accounted for as a business combination under the acquisition method and, accordingly, the total purchase price was allocated to the tangible and intangible assets acquired and the liabilities assumed based on their estimated fair value on the acquisition date. The goodwill recognized was primarily attributed to increased synergies that are expected to be achieved from the integration of Wavecell and is not expected to be deductible for income tax purposes.

Fuze

On January 18, 2022, the Company acquired 100% of the outstanding shares of common stock of Fuze for a total consideration of $213.8 million, which consisted of $132.9 million in cash and $80.9 million in shares of common stock of the Company, of which, $1.3 million in cash and up to 1,153,523 shares were held back. Fuze is a provider of cloud-based, unified communications, and contact center services. The Company’s strategic rationale for acquiring Fuze includes acquiring Fuze’s existing customer base and migrating them onto 8x8’s platforms, retaining engineering talent, and deploying research and development efforts into 8x8’s roadmap. Since the acquisition date, the results of Fuze’s operations have been included in the Company's consolidated financial statements, including service revenue of $23.9 million, other revenue of $0.2 million, and net loss of $0.7 million.

The Fuze acquisition was accounted for as a business combination in accordance with ASC 805, Business Combinations, Treatment as a business combination is based upon the following primary considerations: the counterparties in the transaction are not under common control with the Company, there is no concentration of substantially all fair values of assets acquired in a single asset or group of similar asset, and Fuze had substantive processes that contributed to the ability to produce outputs, including an organized workforce which was acquired.

The Company has determined the fair values of the assets acquired and liabilities assumed at the transaction date. The following table summarizes the purchase price allocation (in thousands):


	January 18, 2022
Fair value of consideration transferred	$	213,784

Estimated fair value of assets acquired:
Cash and cash equivalents	$	6,081
Accounts receivable	15,110
Other current assets	2,857
Property and equipment	1,406
Operating lease, right-of-use assets	7,261
Intangible assets	119,400
Restricted cash, non-current	868
Other assets	176
Total assets acquired	$	153,159

Estimated fair value of liabilities assumed:
Accounts payable	$	(3,250)
Accrued compensation	(3,590)
Accrued taxes	(16,510)
Operating lease liabilities, current	(2,570)
Deferred revenue, current	(14,765)
Other accrued liabilities	(14,420)
Operating lease liabilities, non-current	(4,341)
Deferred revenue, net of current portion	(10,229)
Other liabilities, non-current	(5,817)
Total liabilities assumed	$	(75,492)
Total identifiable net assets	77,667
Goodwill	136,117
Fair value of consideration transferred	$	213,784

The following table summarizes the components of intangible assets acquired and their estimated useful lives as of the acquisition date:


	Fair Value		Useful life (in Years)
Customer relationships	$	99,400	9
Developed technology	19,500		3
Trade name, trademarks, and domain names	500		1
Total intangible assets	$	119,400

The fair value of trade names, trademarks, and domain names and developed technology were estimated using the income approach, specifically the relief-from-royalty method which estimated the cost savings that accrue to the owner of the intangible assets that would otherwise be payable as royalties or license fees on revenues earned through the use of the asset. Significant assumptions under the relief-from-royalty method include revenue growth rate, net of attrition, royalty rate, income tax rate, discount rate, and tax amortization benefits. The fair value of customer relationships was estimated using the multi-period excess earnings method. The multi-period excess earnings method model estimates revenues and cash flows derived from the asset and then deducts portions of the cash flow that can be attributed to supporting assets. Significant assumptions under the multi-period excess earnings method include revenue growth rate, net of attrition, expenses, contributory asset charges, income tax rate, discount rate, and tax amortization benefits. The resulting cash flow, which is attributable solely to the asset acquired, is then discounted at a rate of return commensurate with the associated risk of the asset to calculate the present value. Refer to Note 4, Intangible Assets, for more details.

None of the goodwill is expected to be deductible for income tax purposes.

The fair value of accounts receivables acquired is approximately $15.1 million, with the gross contractual amount being $29.6 million. The Company expects $14.5 million of the gross contractual amount to be uncollectible.

Under the terms of the merger agreement, former Fuze stockholders may accept or reject the Company's calculated working capital adjustments. The Fuze securityholders' representative accepted the working capital calculations on May 2, 2022. Accordingly, the Company does not expect changes to recorded goodwill as a result of working capital adjustments.

The Company incurred acquisition-related transaction costs of $9.7 million during the year ended March 31, 2022. All acquisition-related costs were expensed as incurred and have been recorded as general and administrative expenses in the consolidated statements of operations.

Unaudited Supplemental Pro-forma Information

The following unaudited pro forma consolidated results of operations are based on the assumption as if the Fuze acquisition was completed as of April 1, 2020:


	Year ended March 31,
(In thousands, except per share amounts)	2022		2021
	Unaudited
Revenue	$	737,660	$	657,755
Net loss	$	(216,909)	$	(257,673)
Net loss per share (basic and diluted)	$	(1.84)	$	(2.36)

The unaudited pro forma results above include adjustments related to the purchase price allocation that had the effect of increase in amortization of identifiable intangible assets, increase in the non-recurring transaction costs, and impact of the related income tax effect of these adjustments. The unaudited pro forma revenue, net loss, and loss per share information has been prepared by management for illustrative purposes only and are not necessarily indicative of the consolidated financial position or results of operations in future periods or the results that would have been realized had the Company and Fuze been combined during the specified periods. The unaudited pro forma revenue, net loss, and loss per share information do not reflect any operating efficiencies and/or cost savings that the Company may achieve with respect to the combined companies, or any liabilities that may result from integration activities.

UNAUDITED SELECTED CONSOLIDATED QUARTERLY FINANCIAL DATA

12 Months Ended

Mar. 31, 2022

Quarterly Financial Information Disclosure [Abstract]

UNAUDITED SELECTED CONSOLIDATED QUARTERLY FINANCIAL DATA

The following tables summarize selected consolidated quarterly financial data for the years ended March 31, 2022 and 2021, (dollars In thousands, except per share amounts):


	Three Months Ended
	March 31, 2022		December 31, 2021		September 30, 2021		June 30, 2021
Fiscal 2022
Total revenues	$	181,372	$	156,874	151,557		$	148,327
Gross profit	112,871		97,040		92,090		88,571
Loss from operations	(40,539)		(37,618)		(37,157)		(38,827)
Net loss	(45,583)		(43,571)		(42,324)		(43,906)
Net loss per share:
Basic and diluted	$	(0.39)	$	(0.38)	$	(0.38)	$	(0.40)


	Three Months Ended
	March 31, 2021		December 31, 2020		September 30, 2020		June 30, 2020
Fiscal 2021
Total revenues	$	144,719	$	136,685	129,133		$	121,807
Gross profit	83,606		76,277		72,637		69,674
Loss from operations	(40,036)		(35,255)		(33,098)		(37,760)
Net loss	(45,034)		(40,225)		(38,413)		(41,913)
Net loss per share:
Basic and diluted	$	(0.42)	$	(0.38)	$	(0.37)	$	(0.40)

SUPPLEMENTAL FINANCIAL INFORMATION

12 Months Ended

Mar. 31, 2022

Property, Plant and Equipment [Abstract]

SUPPLEMENTAL FINANCIAL INFORMATION

Property and equipment consisted of the following:


	March 31,
	2022		2021
Computer equipment	$	46,037	$	40,905
Software development costs	103,190		91,816
Software licenses	8,103		7,798
Leasehold improvements	29,064		28,714
Furniture and fixtures	5,013		5,565
Construction in progress	5,303		10,651
Total property and equipment	196,710		185,449
Less: accumulated depreciation and amortization	(117,694)		(92,373)
Total property and equipment, net	$	79,016	$	93,076

Depreciation and amortization expense was $42.1 million, $39.0 million, and $28.4 million for the years ended March 31, 2022, 2021, and 2020, respectively.

Other current assets consisted of the following:


	March 31,
	2022		2021
Prepaid expense	$	24,220	$	17,971
Contract assets, current	10,514		12,840

Other current assets	3,265		3,284
Total other current assets	$	37,999	$	34,095

Other current liabilities consisted of the following:


	March 31,
	2022		2021
Liability related to lease assignment	$	—	$	869

Accrued liabilities	23,167		13,586
Total other current liabilities	$	23,167	$	14,455

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Mar. 31, 2022

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

SCHEDULE II

VALUATION AND QUALIFYING ACCOUNTS

(Dollars in Thousands)


Description	Balance at Beginning of Year		Additions Charged to Expenses		Deductions (a)		Balance at End of Year
Total Allowance for Credit Losses:
Year ended March 31, 2020:	$	864	$	3,067	$	(825)	$	3,106
Year ended March 31, 2021 (b):	$	3,106	$	7,374	$	(2,302)	$	8,178
Year ended March 31, 2022:	$	8,178	$	1,997	$	(3,658)	$	6,517

(a) The deductions related to allowance for credit losses represent financial assets which were written off.

(b) In fiscal 2021, the Company adopted ASU 2016-13, Financial Instruments—Credit Losses. For the year ended March 31, 2021, Additions Charged to Expenses includes $2.8 million, which was the cumulative effect adjustment for the change in accounting principle to the opening balance of fiscal 2021 retained earnings.

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Fiscal Period	The Company's fiscal year ends on March 31 of each calendar year. Each reference to a fiscal year in these Notes to Consolidated Financial Statements refers to the fiscal year ended March 31 of the calendar year indicated (for example, fiscal 2022 refers to the fiscal year ended March 31, 2022).
Principles of Consolidation	The consolidated financial statements include the accounts of 8x8 and its subsidiaries. All material intercompany accounts and transactions have been eliminated.
Acquisitions	In January 2022, the Company completed the acquisition of Fuze, Inc. ("Fuze"), a provider of cloud-based, unified communications and contact center services. The acquisition is expected to accelerate 8x8 XCaaS™ (eXperience Communications as a Service™) innovation and expand 8x8’s enterprise customer base and global presence.
Use of Estimates	The preparation of the consolidated financial statements in conformity with United States generally accepted accounting principles generally ("U.S. GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and equity, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates, including, but not limited to, those related to current expected credit losses, returns reserve for expected cancellations, fair value of and/or potential impairment of goodwill and intangible assets, capitalized internal-use software costs, benefit period for deferred commissions, stock-based compensation, incremental borrowing rate used to calculate operating lease liabilities, income and sales tax liabilities, convertible senior notes fair value, litigation, and other contingencies. The Company bases its estimates on known facts and circumstances, historical experience, and various other assumptions. Actual results could differ from those estimates under different assumptions or conditions.
Revenue Recognition	As described below, significant management judgments and estimates must be made and used in connection with the recognition of revenue. Material differences may result in the amount and timing of our revenue if management were to make different judgments or utilize different estimates. The Company recognizes revenue using the five-step model prescribed by U.S. GAAP, as follows: •identification of the contract, or contracts, with a customer; •identification of the performance obligations in the contract; •determination of the transaction price; •allocation of the transaction price to the performance obligations in the contract; and •recognition of revenue when, or as, the Company satisfies a performance obligation. The Company identifies performance obligations in contracts with customers, which may include subscription services and related usage, product revenue, and professional services. The transaction price is determined based on the amount we expect to be entitled to receive in exchange for transferring the promised services or products to the customer. The transaction price in the contract is allocated to each distinct performance obligation in an amount that represents the relative amount of consideration expected to be received in exchange for satisfying each performance obligation. Revenue is recognized when performance obligations are satisfied, based on the transaction price, excluding amounts collected on behalf of third parties such as sales and telecommunication taxes, which are collected on behalf of and remitted to governmental authorities. We generally bill our customers on a monthly basis. Contracts typically range from annual to multi-year agreements with payment terms of net 30 days. We occasionally allow a 30-day period to cancel a subscription and return products shipped for a full refund. The Company records reductions to revenue for estimated sales returns and customer credits at the time the related revenue is recognized. Sales returns and customer credits are estimated based on historical experience, current trends, and expectations regarding future experience. The Company monitors the accuracy of its sales reserve estimates by reviewing actual returns and credits and adjusts them for its future expectations to determine the adequacy of its current and future reserve needs. If actual future returns and credits differ from past experience, additional reserves may be required. When the Company's services do not meet certain service level commitments, customers are entitled to receive service credits, and in certain cases, refunds, each representing a form of variable consideration. The Company historically has not experienced any significant incidents affecting the defined levels of reliability and performance as required by its subscription contracts. Accordingly, the amount of any estimated refunds related to these agreements in the consolidated financial statements is not material during the periods presented. Judgments and Estimates The estimation of variable consideration for each performance obligation requires the Company to make subjective judgments. The Company has service-level agreements with customers warranting defined levels of uptime reliability and performance. Customers may get credits or refunds if the Company fails to meet such levels. If the services do not meet certain criteria, fees are subject to adjustment or refund representing a form of variable consideration. The Company may impose minimum revenue commitments ("MRC") on its customers at the inception of the contract. Thus, in estimating variable consideration for each of these performance obligations, the Company assesses both the probability of MRC occurring and the collectability of the MRC, both of which represent a form of variable consideration. The Company enters into contracts with customers that regularly include promises to transfer multiple services and products, such as subscriptions, products, and professional services. For arrangements with multiple services, the Company evaluates whether the individual services qualify as distinct performance obligations. In its assessment of whether a service is a distinct performance obligation, the Company determines whether the customer can benefit from the service on its own or with other readily available resources, and whether the service is separately identifiable from other services in the contract. This evaluation requires the Company to assess the nature of each individual service offering and how the services are provided in the context of the contract, including whether the services are significantly integrated, highly interrelated, or significantly modify each other, which may require judgment based on the facts and circumstances of the contract. When agreements involve multiple distinct performance obligations, the Company allocates arrangement consideration to all performance obligations at the inception of an arrangement based on the relative standalone selling prices ("SSP") of each performance obligation. Usage fees deemed to be variable consideration meet the allocation exception for variable consideration. Where the Company has standalone sales data for its performance obligations which are indicative of the price at which the Company sells a promised good or service separately to a customer, such data is used to establish SSP. In instances where standalone sales data is not available for a particular performance obligation, the Company estimates SSP by the use of observable market and cost-based inputs. The Company continues to review the factors used to establish list price and will adjust standalone selling price methodologies as necessary on a prospective basis. Service Revenue Service revenue from subscriptions to the Company's cloud-based technology platform is recognized ratably over the contractual subscription term, beginning on the date that the platform is delivered to the customer until the end of the contractual period. Payments received in advance of subscription services being rendered are recorded as deferred revenue; revenues recognized for services rendered in advance of payments received are recorded as contract assets. Usage fees, when bundled, are billed in advance and recognized over time on a ratable basis over the contractual subscription term, which is usually the monthly contractual billing period. Non-bundled usage fees are recognized as actual usage occurs. Other Revenue Other revenue comprises primarily of product revenue and professional services revenue. The Company recognizes product revenue for telephony equipment at the point in time when transfer of control has occurred, which is generally upon shipment. Sales returns are recorded as a reduction to revenue estimated based on historical experience. Professional services for deployment, configuration, system integration, optimization, customer training, or education are primarily billed on a fixed-fee basis and are performed by the Company directly. Professional services revenue is recognized as services are performed or upon completion of the deployment. Contract Assets Contract assets are recorded for contract consideration not yet invoiced but for which the performance obligations are completed. The revenue is recognized when the customer receives services or equipment for a reduced consideration at the onset of an arrangement, for example, when the initial month's services or equipment are discounted. Contract assets are included in other current assets or other assets in the Company's consolidated balance sheets, depending on if their reduction will be recognized during the succeeding twelve-month period or beyond. Deferred Revenue Deferred revenue represents billings or payments received in advance of revenue recognition and are recognized upon transfer of control. Balances consist primarily of annual plan subscription services and professional and training services not yet provided as of the balance sheet date. Revenue that will be recognized during the twelve month period in which the Company is providing services are recorded as deferred revenue, current in the consolidated balance sheets, with the remainder recorded as other liabilities, non-current in the Company's consolidated balance sheets. Deferred Sales Commission Costs Sales commissions are considered incremental and recoverable costs of acquiring customer contracts. These costs are capitalized as deferred sales commission costs and amortized on a straight-line basis over the anticipated benefit period of five years. The benefit period was estimated by taking into consideration the length of customer contracts, technology lifecycle, and other factors. This amortization expense is recorded in sales and marketing expense within the Company's consolidated statement of operations. The Company applies a practical expedient that permits it to apply an anticipated benefit period to a portfolio of contracts, instead of on a contract-by-contract basis, as they are similar in their characteristics, and the financial statement effects of that application to the portfolio would not differ materially from applying it to the individual contracts within that portfolio.
Cash, Cash Equivalents and Investments	The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. Investments in debt securities are classified as available-for-sale and reported at fair value, based either upon quoted prices in active markets, quoted prices in less active markets, or quoted market prices for similar investments, with unrealized gains and losses, net of related tax, if any, included in other comprehensive income (loss) and disclosed as a separate component of stockholders' equity. Realized gains and losses on sales of all such investments are reported within the caption of other income (expense), net in the consolidated statements of operations and computed using the specific identification method. The Company classifies its investments as short-term or long-term based on the nature of the investments and their availability for use in current operations. The Company's investments in debt securities are monitored on a periodic basis for impairment. In the event the carrying value of an investment exceeds its fair value and the decline in value is determined to be other-than-temporary, an impairment charge is recorded and a new cost basis for the investment is established. These available-for-sale investments are primarily held in the custody of two major financial institutions.
Allowance For Credit Losses	The Company accounts for allowance for credit losses under the current expected credit loss (“CECL”) impairment model for its financial assets, including accounts receivable, and presents the net amount of the financial instrument expected to be collected. The CECL impairment model requires an estimate of expected credit losses, measured over the contractual life of an instrument, that considers forecasts of future economic conditions in addition to information about past events and current conditions. Based on this model, the Company estimates the amount of uncollectible accounts receivable at the end of each reporting period based on the aging of the receivable balance, current and historical customer trends, communications with its customers, and macro-economic conditions. Amounts are written off after considerable collection efforts have been made and the amounts are determined to be uncollectible.
Operating Lease, Right-Of-Use Assets and Lease Liabilities	The Company primarily leases facilities for office and data center space under non-cancellable operating leases for its United States and international locations that expire at various dates through 2030. For leases with a term greater than 12 months, the Company recognizes a right-of-use asset and a lease liability based on the present value of lease payments over the lease term. Variable lease payments are not included in the lease payments to measure the lease liability and are expensed as incurred. The Company’s leases have remaining terms of one to nine years. Some of the leases include a Company option to extend the lease term for less than 12 months to five years, or more, which if reasonably certain to be exercised, the Company includes in the determination of lease payments. The lease agreements do not contain any material residual value guarantees or material restrictive covenants. As most of the Company's leases do not provide a readily determinable implicit rate, the Company uses its incremental borrowing rate at lease commencement, which is determined using a portfolio approach, based on the rate of interest that the Company would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. The Company uses the implicit rate when a rate is readily determinable. Operating lease expense is recognized on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are not recognized on the Company's consolidated balance sheets, and the expense for these short-term leases is recognized on a straight-line basis over the lease term.
Property and Equipment	Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method. Estimated useful lives of three years are used for equipment, capitalized internal-use software, and software development costs, and five years for furniture and fixtures. Amortization of leasehold improvements is computed using the shorter of the remaining facility lease term or the estimated useful life of the improvements. Maintenance, repairs, and ordinary replacements are charged to expense. Expenditures for improvements that extend the physical or economic life of the property are capitalized. Gains or losses on the disposition of property and equipment are recorded in the consolidated statements of operations. Construction in progress primarily relates to costs to acquire or internally develop internal-use software not fully completed as of March 31, 2022 and 2021.
Capitalized Internal Use Software Costs and Research and Development Expenses	Certain costs of software developed or obtained for internal use is capitalized during the application development stage. The Company begins to capitalize costs to develop software when preliminary development efforts are successfully completed, management has authorized and committed project funding, it is probable that the project will be completed, and the software will be used as intended. Capitalized internal-use software development costs are included in property and equipment. Once the project has been completed, these costs are amortized to cost of service revenue on a straight-line basis over the estimated useful life of the related asset, generally estimated to be three years. Costs incurred prior to meeting these criteria together with costs incurred for training and maintenance are expensed as incurred and recorded in research and development expense. The Company tests capitalized internal-use software development costs for impairment on an annual basis, or as events occur or circumstances change that could impact the recoverability of the capitalized costs. Research and development expenses consist primarily of personnel and related costs, third-party development and related work, software and equipment costs necessary for us to conduct our product and platform development and engineering efforts, and allocated IT and facilities costs. Research and development costs are expensed as incurred.
Accounting For Long-Lived Assets	The Company reviews the recoverability of its long-lived assets, such as property and equipment, right-of-use assets, definite lived intangibles, or capitalized internal-use software costs, when events or changes in circumstances occur that indicate that the carrying value of the asset or asset group may not be recoverable. Examples of such events could include a disposal of a significant portion of such asset, an adverse change in the market involving the business employing the related asset, or a significant change in the operation or use of an asset. The assessment of possible impairment is based on the Company's ability to recover the carrying value of the asset or asset group from the expected future cash flows (undiscounted and without interest charges) of the related operations. If these cash flows are less than the carrying value of such asset or asset group, an impairment loss is recognized for the difference between estimated fair value and carrying value. The measurement of impairment requires management to estimate the fair value of long-lived assets and asset groups through future cash flows.
Goodwill and Other Intangible Assets	Goodwill represents the excess fair value of consideration transferred over the fair value of net assets acquired in business combinations. Goodwill and intangible assets with indefinite useful lives are not amortized but are tested annually for impairment and more often if there is an indicator of impairment. The Company performs testing for impairment of goodwill on an annual basis, or as events occur or circumstances change that would more likely than not reduce the fair value of the Company’s single reporting unit below its carrying amount. Goodwill is considered impaired if the carrying value of the reporting unit exceeds its fair value. Intangible assets, consisting of acquired developed technology, domain names, and customer relationships, acquired in business combinations were initially measured at fair value and were determined to have definite lives. Thereafter, intangible assets are amortized on a straight-line basis over their estimated useful lives. Amortization expense related to developed technology is included in cost of revenue. Amortization expense related to customer relationships and domain names are included in sales and marketing expense. Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate an asset’s carrying value may not be recoverable.
Convertible Senior Notes	In accounting for the issuance of the 0.50% Convertible Senior Notes due 2024 (the "Initial Notes", the "First Additional Notes", and the "Second Additional Notes" collectively referred herein as the "Notes"), the Company separates the Notes into liability and equity components. The carrying amount of the liability component is calculated by measuring the fair value of similar debt instruments that do not have associated convertible features. The carrying amount of the equity component representing the conversion option is determined by deducting the fair value of the liability component from the par value of the respective Notes. The equity component is not remeasured as long as it continues to meet the condition for equity classification. The excess of the principal amount of the liability component over its carrying amount (“debt discount”) is amortized to interest expense over the term of the Notes. The Company allocates the issuance costs incurred to the liability and equity components of the Notes based on their relative fair values. Issuance costs attributable to the liability component were recorded as a reduction to the liability portion of the Notes and are amortized as interest expense over the term of the Notes. Issuance costs attributable to the equity component, representing the conversion option,are netted with the equity component in stockholders' equity.
Advertising Costs	Advertising costs are expensed as incurred
Foreign Currency Translation	The Company has determined that the functional currency of each of its foreign subsidiaries is the subsidiary's local currency. The Company believes that this most appropriately reflects the current economic facts and circumstances of the subsidiaries' operations. The assets and liabilities of the subsidiaries are translated at the applicable exchange rate as of the end of the balance sheet period and revenue and expense amounts are translated at an average rate over the period presented. Resulting currency translation adjustments are recorded as a component of accumulated other comprehensive income or loss within the stockholder's equity.
Segment Information	The Company has determined that its chief executive officer is the chief operating decision maker (the "CODM"). The chief executive officer reviews financial information presented on a consolidated basis for purposes of assessing performance and making decisions on how to allocate resources. Following the acquisition of Fuze in the fourth quarter of fiscal 2022, the Company considered whether the CODM changed the manner in which financial results were reviewed. Financial results continue to be presented on a consolidated basis, and do not present separately the revenues and costs related to Fuze on a stand-alone basis. The Company continued to conclude that it has one reporting unit, and it operates in a single reportable segment.
Concentrations	Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash and cash equivalents, investments, and trade accounts receivable. The Company has cash equivalents and investment policies that limit the amount of credit exposure to any one financial institution and restrict placement of these funds to financial institutions evaluated as highly credit-worthy. The Company has not experienced any material losses relating to its investments. The Company sells its products to customers and distributors. The Company performs credit evaluations of its customers' financial condition and generally does not require collateral from its customers. As of, and for the years ended, March 31, 2022 and 2021, no customer accounted for more than 10% of accounts receivable or revenues. The Company purchases all of its hardware products from suppliers that manufacture the hardware directly and from their distributors. The inability of any supplier to fulfill supply requirements of the Company could materially impact future operating results, financial position, or cash flows. The Company also relies primarily on third-party network service providers to provide telephone numbers and public switched telephone network ("PSTN") call termination and origination services for its customers. If these service providers failed to perform their obligations to the Company, such failure could materially impact future operating results, financial position, and cash flows.
Fair Value of Financial Instruments	The Company defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal market or the most advantageous market in which it would transact. The Company maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. Observable inputs are inputs that reflect the assumptions market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company's assumptions about the factors that market participants would use in valuing the asset or liability developed based on the best information available in the circumstances. The standard establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value by requiring that the most observable inputs be used when available. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is as follows: • Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. • Level 2 applies to assets or liabilities for which there are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly, such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets). • Level 3 applies to assets or liabilities for which fair value is derived from valuation techniques in which one or more significant inputs are unobservable, including the Company's own assumptions. The estimated fair value of financial instruments is determined by the Company using available market information and valuation methodologies considered to be appropriate. The carrying amounts of the Company's cash and cash equivalents, accounts receivable, and accounts payable approximate their fair values due to their short maturities. The Company's investments are recorded at fair value and convertible senior notes payable are recorded at net carrying value.
Accounting for Stock-Based Compensation	The Company accounts for the fair value of restricted stock units (“RSUs”) using the closing market price of the Company’s common stock on the date of the grant. For new-hire grants and annual refresh grants, one-third of the RSUs typically vest on the first anniversary of the grant date, and the remainder vest on a one-eighth basis quarterly over the subsequent two years. Stock-based compensation cost for RSUs is measured at the grant date based on the estimated fair value of the award and is recognized as expense over the requisite service period (generally the vesting period), net of forfeitures. The Company accounts for the fair value of performance stock units ("PSUs") using Monte Carlo simulations. The Company estimates the fair value of the rights to acquire stock under its 1996 Employee Stock Purchase Plan (the “ESPP”) using the Black-Scholes option pricing formula. The ESPP provides for consecutive six-month offering periods with a one-year lookback period and the Company uses its own historical volatility data in the valuation of shares that are purchased under the ESPP.
Comprehensive Loss	Comprehensive loss, as defined, includes all changes in equity (net assets) during a period. The difference between net loss and comprehensive loss is due to foreign currency translation adjustments and unrealized gains or losses on investments classified as available-for-sale.
Net Loss Per Share	Basic net loss per share is computed by dividing net loss available to common stockholders (numerator) by the weighted average number of vested, unrestricted common shares outstanding during the period (denominator). Diluted net loss per share is computed on the basis of the weighted average number of shares of common stock, plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method unless their effect is anti-dilutive. Dilutive potential common shares include outstanding stock options, ESPP, RSUs and PSUs.
Recently Adopted Accounting Pronouncements, Recent Accounting Pronouncements Not Yet Adopted	In June 2016, the Financial Accounting Standards Board (the "FASB") issued ASU 2016‑13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, as amended, which replaces the existing impairment model with a forward-looking expected loss method. Under this update, on initial recognition and at each reporting period, an entity is required to recognize an allowance that reflects the entity's current estimate of credit losses expected to be incurred over the life of the financial instrument. For trade receivables, loans, and other financial instruments, an entity is required to use a forward-looking expected loss model to recognize credit losses that are probable. The Company adopted ASU 2016-13 on a modified retrospective basis as of April 1, 2020, through a cumulative-effect adjustment to the Company's beginning accumulated deficit balance; the impact of the adoption was not material to the Company's consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820), which makes modifications to disclosure requirements on fair value measurements. The Company adopted ASU 2018-13 on April 1, 2020. The impact of the adoption was immaterial to the Company's consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal Use Software (Subtopic 350-40), which reduces complexity for the accounting for costs of implementing a cloud computing service arrangement. The Company adopted this guidance on a prospective basis effective April 1, 2020. The impact of the adoption was immaterial to the Company's consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740), which enhances and simplifies various aspects of the income tax accounting guidance, including requirements such as tax basis step-up in goodwill obtained in a transaction that is not a business combination, ownership changes in investments, and interim-period accounting for enacted changes in tax law. The amendment will be effective for public companies with fiscal years beginning after December 15, 2020. The Company adopted this guidance on a prospective basis, effective April 1, 2021. The impact of the adoption was immaterial to the Company's consolidated financial statements. In October 2021, the FASB issued ASU 2021-08 Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which clarifies the accounting for acquired revenue contracts with customers in a business combination. ASU 2021-08 requires the acquirer of a business to measure contract assets and contract liabilities acquired in a business combination in accordance with ASC 606. The guidance is effective for interim and annual periods beginning after December 15, 2022, with early adoption permitted. Early adoption of the amendments is permitted, and an entity that early adopts should apply the amendments (1) retrospectively to all business combinations for which the acquisition date occurs on or after the beginning of the fiscal year that includes the interim period of early application and (2) prospectively to all business combinations that occur on or after the date of initial application. The Company early adopted ASU 2021-08, effective April 1, 2021 and applied the amendments prospectively. The impact of the adoption was immaterial to the Company's consolidated financial statements. RECENT ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions to GAAP guidance on contract modifications to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate ("LIBOR"), which is expected to be discontinued, to alternative reference rates. In January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848), which refines the scope of Topic 848 and clarifies some of its guidance. The Company has elected to apply the amendments prospectively from the first quarter of fiscal 2023. The impact of the adoption is expected to be immaterial to the Company's consolidated financial statements. In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40), which simplifies accounting for convertible instruments by eliminating two of the three accounting models available for convertible debt instruments and convertible preferred stock. The guidance also addresses how convertible instruments are accounted for in the diluted earnings per share calculation. The guidance is effective for fiscal years beginning after December 15, 2021, which is fiscal 2023 for the Company; early adoption is permitted. The Company is currently assessing the impact of this pronouncement on its consolidated financial statements.
Indemnifications	Indemnifications In the normal course of business, the Company may agree to indemnify other parties, including customers, lessors, and parties to other transactions with the Company with respect to certain matters, such as breaches of representations or covenants or intellectual property infringement or other claims made by third parties. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim. In addition, the Company has entered into indemnification agreements with its officers and directors. It is not possible to determine the maximum potential amount of the Company's exposure under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Historically, payments made by the Company under these agreements have not had a material impact on the Company's operating results, financial position, or cash flows. Under some of these agreements, however, the Company's potential indemnification liability might not have a contractual limit.

REVENUE RECOGNITION (Tables)

12 Months Ended

Mar. 31, 2022

Revenue from Contract with Customer [Abstract]

Schedule of Contract Balances

The following table provides amounts of receivables, contract assets, and deferred revenue from contracts with customers:


	March 31, 2022		March 31, 2021
Accounts receivable, net	$	57,400	$	51,150
Contract assets, current	10,514		12,840
Contract assets, non-current	15,171		17,987
Deferred revenue, current	34,262		20,737
Deferred revenue, non-current	11,430		2,999

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value Measurements

Cash, cash equivalents, and available-for-sale investments were as follows:


As of March 31, 2022	Amortized Costs		Gross Unrealized Gain		Gross Unrealized Loss		Estimated Fair Value		Cash and Cash Equivalents		Restricted Cash (Current & Non-current)		Short-Term Investments		Long-Term Investments
Cash	$	70,095					$	70,095	$	70,095	$	—	$	—	$	—
Level 1:
Money market funds	12,865						12,865		12,865		—		—		—
Treasury securities	4,573				(7)		4,566		—		—		4,566		—
Subtotal	87,533		—		(7)		87,526		82,960		—		4,566		—
Level 2:
Certificate of deposit	9,509						9,509		—		9,509		—		—
Commercial paper	23,950				(34)		23,916		7,445		—		16,471
Corporate debt	27,442				(163)		27,279		800		—		23,808		2,671
Subtotal	60,901		—		(197)		60,704		8,245		9,509		40,279		2,671
Total assets	$	148,434	$	—	$	(204)	$	148,230	$	91,205	$	9,509	$	44,845	$	2,671


As of March 31, 2021	Amortized Costs		Gross Unrealized Gain		Gross Unrealized Loss		Estimated Fair Value		Cash and Cash Equivalents		Restricted Cash (Current & Non-current)		Short-Term Investments		Long-Term Investments
Cash	$	39,070	$	—	$	—	$	39,070	$	39,070	$	—	$	—	$	—
Level 1:
Money market funds	67,712		—		—		67,712		67,712		—		—		—
Treasury securities	6,177		17		—		6,194		—		—		6,194		—
Subtotal	112,959		17		—		112,976		106,782		—		6,194		—
Level 2:
Certificate of deposit	8,641		—		—		8,641		—		8,641		—		—
Commercial paper	22,193		1		—		22,194		5,049		—		17,145		—
Corporate debt	17,656		42		—		17,698		700		—		16,998		—
Subtotal	48,490		43		—		48,533		5,749		8,641		34,143		—
Total assets	$	161,449	$	60	$	—	$	161,509	$	112,531	$	8,641	$	40,337	$	—

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

INTANGIBLE ASSETS AND GOODWILL (Tables)

12 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Acquired Finite-Lived Intangible Assets by Major Class

The carrying value of intangible assets consisted of the following:


	March 31, 2022						March 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Technology	$	46,727	$	(19,852)	$	26,875	$	33,960	$	(21,458)	$	12,502
Customer relationships	105,827		(4,889)		100,938		11,969		(7,341)		4,628
Trade names and domains	583		(183)		400		988		(988)		—

Total acquired identifiable intangible assets	$	153,137	$	(24,924)	$	128,213	$	46,917	$	(29,787)	$	17,130

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

At March 31, 2022, annual amortization of intangible assets, based upon existing intangible assets and current useful lives, is estimated to be the following:


	Amount
2023	$	21,101
2024	20,395
2025	19,095
2026	13,895
2027 and thereafter	53,727
Total	$	128,213

Schedule of Goodwill

The following table provides a summary of the changes in the carrying amounts of goodwill:


	Total
Balance at March 31, 2020	$	128,300
Additions due to acquisitions	—
Foreign currency translation	3,220
Balance at March 31, 2021	131,520
Additions due to acquisitions	136,117
Foreign currency translation	(770)
Balance at March 31, 2022	$	266,867

LEASES (Tables)

12 Months Ended

Mar. 31, 2022

Leases [Abstract]

Schedule of Assets and Liabilities, Leases

The following table provides balance sheet information related to operating leases:


	March 31, 2022		March 31, 2021
Assets
Operating lease, right-of-use assets	$	63,415	$	66,664

Liabilities
Operating lease liabilities, current	$	15,485	$	12,942
Operating lease liabilities, non-current	74,518		82,456
Total operating lease liabilities	$	90,003	$	95,398

Schedule of Lease, Cost

The components of lease expense were as follows:


	For the years ended March 31,
	2022	2021
Operating lease expense	13,482	$	15,210
Variable lease expense	3,837	2,462

The following table presents supplemental lease information:

March 31, 2022

March 31, 2021

Weighted average remaining lease term

7.4 years

8.4 years

Weighted average discount rate

4.0%

Schedule of Lessee, Operating Leases, Liability, Maturity

The following table presents maturity of lease liabilities under the Company's non-cancellable operating leases as of March 31, 2022:


2023	$	18,692
2024	13,697
2025	12,537
2026	11,339
2027	10,032
Thereafter	38,617
Total lease payments	104,914
Less: imputed interest	(14,911)
Present value of lease liabilities	$	90,003

CONVERTIBLE SENIOR NOTES AND CAPPED CALL (Tables)

12 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Convertible Debt

The following table presents the net carrying amount and fair value of the liability component of the Notes:


	March 31, 2022		March 31, 2021
Principal	$	500,000	$	362,500
Unamortized debt discount	(48,657)		(53,323)
Unamortized issuance costs	(3,891)		(742)

Net carrying amount	$	447,452	$	308,435


	Second Additional Notes		First Additional Notes		Initial Notes
Conversion option	$	15,960	$	12,810	$	66,700
Payments for capped call transactions	$	—	$	(9,288)	$	(33,724)
Issuance costs	$	(361)	$	(436)	$	(1,848)
Total	$	15,599	$	3,086	$	31,128

Interest Income and Interest Expense Disclosure

Interest expense recognized related to the Notes was as follows:


	For the years ended March 31,
	2022		2021
Contractual interest expense	$	2,271	$	1,813
Amortization of debt discount	20,105		16,664
Amortization of issuance costs	299		234
Total interest expense	$	22,675	$	18,711

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Mar. 31, 2022

Equity [Abstract]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The following table presents stock-based compensation expense:


	Years Ended March 31,
	2022		2021		2020
Cost of service revenue	$	8,815	$	8,811	$	5,330
Cost of other revenue	4,717		4,384		3,051
Research and development	32,655		31,641		19,712
Sales and marketing	47,202		33,869		20,205
General and administrative	39,942		28,933		22,580
Total	$	133,331	$	107,638	$	70,878

Disclosure of Share-Based Compensation Arrangements By Share-Based Payment Award

The following table presents the stock option activity during the years ended March 31, 2022, 2021, and 2020 (shares in thousands):


	Number of Shares	Weighted Average Exercise Price Per Share
Outstanding at March 31, 2019	3,114	$	9.45
Granted	—	—
Exercised	(785)	8.77
Canceled/Forfeited	(55)	17.01
Outstanding at March 31, 2020	2,274	9.50

Exercised	(426)	8.67
Canceled/Forfeited	(35)	22.05
Outstanding at March 31, 2021	1,813	9.46

Exercised	(915)	7.89
Canceled/Forfeited	(31)	21.90
Outstanding at March 31, 2022	867	10.67

Vested and expected to vest March 31, 2022	867	10.67
Exercisable at March 31, 2022	861	$	10.60

The following table presents the RSU activity during the years ended March 31, 2022, 2021, and 2020 (shares in thousands):


	Number of Shares	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (in Years)
Balance at March 31, 2019	6,836	$	17.45	2.38
Granted	5,592	20.50
Vested and released	(2,771)	16.87
Forfeited	(1,545)	19.13
Balance at March 31, 2020	8,112	19.43		1.96
Granted	6,256	18.73
Vested and released	(4,579)	18.90
Forfeited	(1,143)	18.96
Balance at March 31, 2021	8,646	19.27		1.85
Granted	8,333	21.37
Vested and released	(5,146)	19.82
Forfeited	(2,458)	20.85
Balance at March 31, 2022	9,375	$	20.41	2.11

The following table presents the PSU activity during the years ended March 31, 2022, 2021, and 2020 (shares in thousands):


	Number of Shares	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (in Years)
Balance at March 31, 2019	984	$	19.23	1.39
Granted	293	21.40
Granted for performance achievement1	547	21.40
Vested and released	(673)	17.61
Forfeited	(72)	17.52
Balance at March 31, 2020	1,079	22.05		1.40
Granted	1,013	29.00
Granted for performance achievement1	43	29.00
Vested and released	(350)	19.05
Forfeited	(209)	22.38
Balance at March 31, 2021	1,576	27.33		1.24
Granted	497	30.41
Granted for performance achievement1	20	30.41
Vested and released	(250)	17.15
Forfeited	(817)	23.45
Balance at March 31, 2022	1,026	35.36		0.89

1 Represents additional PSUs awarded as a result of the achievement of performance goals above the performance targets established at grant.

The PSUs granted were valued for compensation expense purposes at weighted average share price determined by the Monte Carlo simulations using volatility factors and risk-free rates as follows:


Year ended March 31,	Value per Weighted Average Share		Volatility Range			Risk Free Interest Rate Range
2022	$	30.98	58.65%	—	59.67%	0.34%	—	0.40%
2021	$	29.07	55.66%	—	60.68%	0.15%	—	0.18%

Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions

The estimated fair value of stock purchase rights granted under the Employee Stock Purchase Plan was estimated using the Black-Scholes pricing model with the following weighted-average assumptions:


	Years Ended March 31,
	2022	2021	2020
Expected volatility	45%	84%	32%
Expected dividend yield	—	—	—
Risk-free interest rate	0.57%	0.11%	1.79%
Weighted average expected term (in years)	0.8 years	0.7 years	0.7 years
Weighted average fair value of rights granted	$5.81	$8.00	$5.66

INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of the consolidated provision for income taxes for fiscal 2022, 2021, and 2020 consisted of the following:


	March 31,
Current:	2022		2021		2020
Federal	$	—	$	—	$	—
State	145		31		185
Foreign	721		812		647
Total current tax provision	866		843		832
Deferred
Federal	(984)		—		—
State	(269)		—		—
Foreign	—		—		—
Total deferred tax provision	(1,253)		—		—
Income tax (benefit) provision	$	(387)	$	843	$	832

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and (liabilities) were comprised of the following:


	March 31,
	2022		2021
Deferred tax assets
Net operating loss carryforwards	$	350,242	$	145,655
Research and development and other credit carryforwards	26,127		22,794
Stock-based compensation	14,877		12,669
Reserves and allowances	23,880		6,198
Lease liability	20,614		22,424
Fixed assets and intangibles	836		6,091
Gross deferred tax assets	436,576		215,831
Valuation allowance	(349,093)		(160,450)
Total deferred tax assets	$	87,483	$	55,381
Deferred tax liabilities
Intangibles	(28,529)		—
Deferred sales commissions	(32,857)		(27,166)
Convertible debt	(12,066)		(12,695)
Lease asset	(14,145)		(15,520)
Net deferred taxes	$	(114)	$	—

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the Company's provision (benefit) for income taxes to the amounts computed using the statutory United States federal income tax rate is as follows:


	Years Ended March 31,
	2022		2021		2020
Tax benefit at statutory rate	$	(36,909)	$	(34,492)	$	(36,163)
State income taxes before valuation allowance, net of federal effect	(7,754)		(7,445)		(7,680)
Foreign tax rate differential	(2,056)		(2,206)		(1,422)
Research and development credits	(3,362)		(4,078)		(3,892)
Change in valuation allowance	49,620		47,225		51,741
Compensation/option differences	(6,788)		(5,045)		(6,584)
Non-deductible compensation	7,606		6,194		3,017
Other	(744)		690		1,815
Total income tax provision (benefit)	$	(387)	$	843	$	832

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


	Unrecognized Tax Benefits
	2022		2021		2020
Balance at beginning of year	$	7,053	$	6,115	$	5,033
Gross increases - tax position in prior period	1,918		—		—
Gross increases - tax position related to the current year	951		1,140		1,082
Settlements	(63)		—		—
Lapse of statute of limitations	(19)		(202)		—
Currency	10		—		—
Balance at end of year	$	9,850	$	7,053	$	6,115

NET LOSS PER SHARE (Tables)

12 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Net Income Per Share

The following is a reconciliation of the weighted average number of common shares outstanding used in calculating basic and diluted net loss per share (dollars in thousands, except per share data):


	For the years ended March 31,
	2022		2021		2020
Net loss	$	(175,383)	$	(165,585)	$	(172,368)
Weighted average common shares outstanding - basic and diluted (in thousands)	113,354		105,700		99,999

Net loss per share - basic and diluted	$	(1.55)	$	(1.57)	$	(1.72)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following potentially dilutive common shares were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive (shares in thousands):


	For the years ended March 31,
	2022	2021	2020
Stock options	867	1,813	2,274
Restricted stock units and Performance stock units	10,401	10,221	9,191
Potential shares attributable to the ESPP	761	555	582

Total anti-dilutive shares	12,029	12,589	12,047

GEOGRAPHICAL INFORMATION (Tables)

12 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables set forth the geographic information for each period:


	Revenue for the Years Ended March 31,
	2022		2021		2020
United States	$	443,118	$	390,758	$	350,368
International	195,012		141,586		95,869
Total revenue	$	638,130	$	532,344	$	446,237

Long-lived Assets by Geographic Areas


	Property and Equipment as of March 31,
	2022		2021
United States	$	73,967	$	87,945
International	5,049		5,131
Total property and equipment, net	$	79,016	$	93,076

ACQUISITIONS (Tables)

12 Months Ended

Mar. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the purchase price allocation (in thousands):


	January 18, 2022
Fair value of consideration transferred	$	213,784

Estimated fair value of assets acquired:
Cash and cash equivalents	$	6,081
Accounts receivable	15,110
Other current assets	2,857
Property and equipment	1,406
Operating lease, right-of-use assets	7,261
Intangible assets	119,400
Restricted cash, non-current	868
Other assets	176
Total assets acquired	$	153,159

Estimated fair value of liabilities assumed:
Accounts payable	$	(3,250)
Accrued compensation	(3,590)
Accrued taxes	(16,510)
Operating lease liabilities, current	(2,570)
Deferred revenue, current	(14,765)
Other accrued liabilities	(14,420)
Operating lease liabilities, non-current	(4,341)
Deferred revenue, net of current portion	(10,229)
Other liabilities, non-current	(5,817)
Total liabilities assumed	$	(75,492)
Total identifiable net assets	77,667
Goodwill	136,117
Fair value of consideration transferred	$	213,784

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The following table summarizes the components of intangible assets acquired and their estimated useful lives as of the acquisition date:


	Fair Value		Useful life (in Years)
Customer relationships	$	99,400	9
Developed technology	19,500		3
Trade name, trademarks, and domain names	500		1
Total intangible assets	$	119,400

Schedule of Business Acquisition, Pro Forma Information

The following unaudited pro forma consolidated results of operations are based on the assumption as if the Fuze acquisition was completed as of April 1, 2020:


	Year ended March 31,
(In thousands, except per share amounts)	2022		2021
	Unaudited
Revenue	$	737,660	$	657,755
Net loss	$	(216,909)	$	(257,673)
Net loss per share (basic and diluted)	$	(1.84)	$	(2.36)

UNAUDITED SELECTED CONSOLIDATED QUARTERLY FINANCIAL DATA (Tables)

12 Months Ended

Mar. 31, 2022

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (Unaudited)

The following tables summarize selected consolidated quarterly financial data for the years ended March 31, 2022 and 2021, (dollars In thousands, except per share amounts):


	Three Months Ended
	March 31, 2022		December 31, 2021		September 30, 2021		June 30, 2021
Fiscal 2022
Total revenues	$	181,372	$	156,874	151,557		$	148,327
Gross profit	112,871		97,040		92,090		88,571
Loss from operations	(40,539)		(37,618)		(37,157)		(38,827)
Net loss	(45,583)		(43,571)		(42,324)		(43,906)
Net loss per share:
Basic and diluted	$	(0.39)	$	(0.38)	$	(0.38)	$	(0.40)


	Three Months Ended
	March 31, 2021		December 31, 2020		September 30, 2020		June 30, 2020
Fiscal 2021
Total revenues	$	144,719	$	136,685	129,133		$	121,807
Gross profit	83,606		76,277		72,637		69,674
Loss from operations	(40,036)		(35,255)		(33,098)		(37,760)
Net loss	(45,034)		(40,225)		(38,413)		(41,913)
Net loss per share:
Basic and diluted	$	(0.42)	$	(0.38)	$	(0.37)	$	(0.40)

SUPPLEMENTAL FINANCIAL INFORMATION (Tables)

12 Months Ended

Mar. 31, 2022

Property, Plant and Equipment [Abstract]

Components of Property, Plant and Equipment

Property and equipment consisted of the following:


	March 31,
	2022		2021
Computer equipment	$	46,037	$	40,905
Software development costs	103,190		91,816
Software licenses	8,103		7,798
Leasehold improvements	29,064		28,714
Furniture and fixtures	5,013		5,565
Construction in progress	5,303		10,651
Total property and equipment	196,710		185,449
Less: accumulated depreciation and amortization	(117,694)		(92,373)
Total property and equipment, net	$	79,016	$	93,076

Schedule of Other Current Assets

Other current assets consisted of the following:


	March 31,
	2022		2021
Prepaid expense	$	24,220	$	17,971
Contract assets, current	10,514		12,840

Other current assets	3,265		3,284
Total other current assets	$	37,999	$	34,095

Other Current Liabilities

Other current liabilities consisted of the following:


	March 31,
	2022		2021
Liability related to lease assignment	$	—	$	869

Accrued liabilities	23,167		13,586
Total other current liabilities	$	23,167	$	14,455

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) $ in Millions			12 Months Ended
	Jan. 01, 2005	Dec. 31, 2004	Mar. 31, 2022 USD ($) reportingUnit	Mar. 31, 2021 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2021	Feb. 28, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Capitalized contract cost, amortization period			5 years
Term of contract								132 months
Advertising expense \| $			$ 3.4	$ 9.0	$ 32.2
Number of reporting units \| reportingUnit			1
Convertible Senior Notes \| Convertible Debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Debt instrument, interest rate			0.50%			0.50%	0.50%
Equipment
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Property, plant and equipment, useful life			3 years
Software and Software Development Costs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Property, plant and equipment, useful life			3 years
Furniture and fixtures
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Property, plant and equipment, useful life			5 years
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of contract			1 year
Renewal term			12 months
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of contract			9 years
Renewal term			5 years
Restricted Stock Units (RSUs) \| Share-based Compensation Award, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			33.33%
Vesting period			1 year
Restricted Stock Units (RSUs) \| Share-based Compensation Award, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			2 years
Quarterly vesting percentage			12.50%
Employee Stock \| Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Duration of purchase period	6 months
Duration of offering period	1 year	2 years
Computer Software, Intangible Asset
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Finite-lived intangible asset, useful life			3 years

REVENUE RECOGNITION - Contract Balances (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 57,400	$ 51,150
Contract assets, current	10,514	12,840
Contract assets, non-current	15,171	17,987
Deferred revenue, current	34,262	20,737
Deferred revenue, non-current	$ 11,430	$ 2,999

REVENUE RECOGNITION - Narrative (Details) - USD ($)	12 Months Ended
REVENUE RECOGNITION - Narrative (Details) - USD ($)	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Contract with customer, liability, revenue recognized	$ 15,200,000
Capitalized contract cost, amortization	34,700,000	$ 27,800,000	$ 19,500,000
Capitalized contract cost, impairment loss	$ 0	$ 0	$ 0

REVENUE RECOGNITION - Remaining Performance Obligation (Details) $ in Millions	12 Months Ended
	Mar. 31, 2022 USD ($)
Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Subscription term	1 year
Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Subscription term	5 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 715.0
Revenue, remaining performance obligation, percentage	94.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period	36 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	6.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period

FAIR VALUE MEASUREMENTS - Cash, Cash Equivalents and Investments with Hierarchy (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 91,205	$ 112,531	$ 137,394
Accumulated gross unrealized gain, before tax	0	60
Accumulated gross unrealized loss, before tax	(204)	0
Cash, cash equivalents and debt securities available-for-sale, amortized cost	148,434	161,449
Cash, cash equivalents and debt securities available-for-sale	148,230	161,509
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accumulated gross unrealized gain, before tax	0	17
Accumulated gross unrealized loss, before tax	(7)	0
Cash, cash equivalents and debt securities available-for-sale, amortized cost	87,533	112,959
Cash, cash equivalents and debt securities available-for-sale	87,526	112,976
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	60,901	48,490
Accumulated gross unrealized gain, before tax	0	43
Accumulated gross unrealized loss, before tax	(197)	0
Debt securities, available-for-sale	60,704	48,533
Cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	70,095	39,070
Cash and cash equivalents, fair value disclosure	70,095	39,070
Money market funds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	12,865	67,712
Cash and cash equivalents, fair value disclosure	12,865	67,712
Treasury securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	4,573	6,177
Accumulated gross unrealized gain, before tax		17
Accumulated gross unrealized loss, before tax	(7)	0
Debt securities, available-for-sale	4,566	6,194
Certificate of deposit \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	9,509	8,641
Cash and cash equivalents, fair value disclosure	9,509	8,641
Commercial paper \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	23,950	22,193
Accumulated gross unrealized gain, before tax		1
Accumulated gross unrealized loss, before tax	(34)	0
Debt securities, available-for-sale	23,916	22,194
Corporate debt \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	27,442	17,656
Accumulated gross unrealized gain, before tax		42
Accumulated gross unrealized loss, before tax	(163)	0
Debt securities, available-for-sale	27,279	17,698
Cash and Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash, cash equivalents and debt securities available-for-sale	91,205	112,531
Cash and Cash Equivalents \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash, cash equivalents and debt securities available-for-sale	82,960	106,782
Cash and Cash Equivalents \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	8,245	5,749
Cash and Cash Equivalents \| Cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	70,095	39,070
Cash and Cash Equivalents \| Money market funds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	12,865	67,712
Cash and Cash Equivalents \| Treasury securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Cash and Cash Equivalents \| Certificate of deposit \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Cash and Cash Equivalents \| Commercial paper \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	7,445	5,049
Cash and Cash Equivalents \| Corporate debt \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	800	700
Restricted Cash (Current & Non-current)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash, cash equivalents and debt securities available-for-sale	9,509	8,641
Restricted Cash (Current & Non-current) \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash, cash equivalents and debt securities available-for-sale	0	0
Restricted Cash (Current & Non-current) \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	9,509	8,641
Restricted Cash (Current & Non-current) \| Cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Restricted Cash (Current & Non-current) \| Money market funds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Restricted Cash (Current & Non-current) \| Treasury securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Restricted Cash (Current & Non-current) \| Certificate of deposit \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	9,509	8,641
Restricted Cash (Current & Non-current) \| Commercial paper \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Restricted Cash (Current & Non-current) \| Corporate debt \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Short-Term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale		40,337
Cash, cash equivalents and debt securities available-for-sale	44,845
Short-Term Investments \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	4,566	6,194
Short-Term Investments \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	40,279	34,143
Short-Term Investments \| Treasury securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	4,566	6,194
Short-Term Investments \| Commercial paper \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	16,471	17,145
Short-Term Investments \| Corporate debt \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	23,808	16,998
Long-Term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale		0
Cash, cash equivalents and debt securities available-for-sale	2,671
Long-Term Investments \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Long-Term Investments \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	2,671	0
Long-Term Investments \| Treasury securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Long-Term Investments \| Commercial paper \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale		0
Long-Term Investments \| Corporate debt \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	$ 2,671	$ 0

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2022	Mar. 31, 2021
Level 2 \| Initial Notes \| Convertible Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	$ 470.5	$ 502.9

INTANGIBLE ASSETS AND GOODWILL- Schedule Of Intangibles (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 153,137	$ 46,917
Accumulated Amortization	(24,924)	(29,787)
Net Carrying Amount	128,213	17,130
Technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	46,727	33,960
Accumulated Amortization	(19,852)	(21,458)
Net Carrying Amount	26,875	12,502
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	105,827	11,969
Accumulated Amortization	(4,889)	(7,341)
Net Carrying Amount	100,938	4,628
Trade names and domains
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	583	988
Accumulated Amortization	(183)	(988)
Net Carrying Amount	$ 400	$ 0

INTANGIBLE ASSETS AND GOODWILL - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 8,317	$ 6,886	$ 8,842
Fully amortized intangible asset written off	$ 13,200	$ 0
Technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, remaining amortization period	3 years 2 months 12 days
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, remaining amortization period	8 years 8 months 12 days
Trade names and domains
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, remaining amortization period	9 months 18 days

INTANGIBLE ASSETS AND GOODWILL - Schedule Of Future Amortization Of Intangibles (Details) $ in Thousands	Mar. 31, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 21,101
2024	20,395
2025	19,095
2026	13,895
2027 and thereafter	53,727
Total	$ 128,213

INTANGIBLE ASSETS AND GOODWILL - Changes in Carrying Amount of Goodwill by Location (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 131,520	$ 128,300
Additions due to acquisitions	136,117	0
Foreign currency translation	(770)	3,220
Goodwill, ending balance	$ 266,867	$ 131,520

LEASES - Components of Lease Right-of-Use Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Assets
Operating lease, right-of-use assets	$ 63,415	$ 66,664
Liabilities
Operating lease liabilities, current	15,485	12,942
Operating lease liabilities, non-current	74,518	82,456
Total operating lease liabilities	$ 90,003	$ 95,398

LEASES - Operating Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Leases [Abstract]
Operating lease expense	$ 13,482	$ 15,210	$ 14,971
Variable lease expense	$ 3,837	$ 2,462

LEASES - Narrative (Details) ft² in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Mar. 31, 2020 USD ($)	Mar. 31, 2018 ft²
Leases [Abstract]
Operating leases, payments	$ 17,300	$ 9,900
Term of contract				132 months
Area of real estate property \| ft²				162
Restricted cash, non-current	818	462	$ 8,641
Reimbursement of rent and direct expenses		$ 6,400
Liability related to lease assignment	800
Termination fee	$ 800

LEASES - Supplemental Information (Details)	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Weighted average remaining lease term	7 years 4 months 24 days	8 years 4 months 24 days
Weighted average discount rate	4.00%	4.00%

LEASES - Maturity of Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
2023	$ 18,692
2024	13,697
2025	12,537
2026	11,339
2027	10,032
Thereafter	38,617
Total lease payments	104,914
Less: imputed interest	(14,911)
Present value of lease liabilities	$ 90,003	$ 95,398

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2022	Mar. 31, 2021
State and Local Taxes and Surcharges
Lessee, Lease, Description [Line Items]
Accrued contingent indirect tax liabilities	$ 17.2	$ 3.1
Third-Party Customer Support Commitments
Lessee, Lease, Description [Line Items]
Other commitment	$ 33.5

CONVERTIBLE SENIOR NOTES AND CAPPED CALL - Narrative (Details) $ / shares in Units, shares in Millions	1 Months Ended			12 Months Ended
	Dec. 31, 2021 USD ($)	Nov. 30, 2019 USD ($)	Feb. 28, 2019 USD ($) d $ / shares shares	Mar. 31, 2022 USD ($) $ / shares	Mar. 31, 2021 USD ($) $ / shares	Mar. 31, 2020 USD ($)
Debt Instrument [Line Items]
Net proceeds from issuance of convertible senior notes				$ 134,619,000	$ 0	$ 73,918,000
Common stock, par value per share (in dollars per share) \| $ / shares				$ 0.001	$ 0.001
Convertible Debt \| Convertible Senior Notes
Debt Instrument [Line Items]
Debt instrument, face value	$ 137,500,000		$ 287,500,000	$ 500,000,000	$ 362,500,000
Debt instrument, interest rate	0.50%		0.50%	0.50%
Net proceeds from issuance of convertible senior notes			$ 245,800,000
Debt instrument, convertible, conversion ratio			0.0389484
Common stock, par value per share (in dollars per share) \| $ / shares			$ 0.001
Debt instrument, convertible, conversion price (in dollars per share) \| $ / shares			$ 25.68
Debt instrument, convertible, threshold trading days \| d			20
Debt instrument, convertible, threshold consecutive trading days \| d			30
Debt instrument, convertible, threshold percentage of stock price trigger			130.00%
Debt instrument, convertible, measurement period \| d			5
Debt instrument, convertible, threshold consecutive trading days preceding measurement period \| d			10
Debt instrument, threshold percentage of sales price per share			98.00%
Debt instrument, redemption price, percentage			100.00%
Unamortized debt discount and issuance costs				22 months
Debt instrument, strike price per share (in dollars per share) \| $ / shares			$ 25.68
Debt instrument, initial cap price per share (in dollars per share) \| $ / shares			$ 39.50
Convertible Debt \| Convertible Senior Notes \| Call Option
Debt Instrument [Line Items]
Option indexed to issuer's equity, indexed shares (in shares) \| shares			14.1
Convertible Debt \| First Additional Notes
Debt Instrument [Line Items]
Debt instrument, face value		$ 75,000,000
Debt instrument, interest rate		0.50%
Net proceeds from issuance of convertible senior notes		$ 64,600,000
Conversion option		$ 12,400,000
Debt instrument, effective interest rate			6.50%
Payments for capped call transactions			$ 9,300,000	$ 9,288,000
Convertible Debt \| Aggregate Notes
Debt Instrument [Line Items]
Debt instrument, face value	$ 500,000,000.0
Convertible Debt \| Initial Notes
Debt Instrument [Line Items]
Conversion option			64,900,000
Payments for capped call transactions			$ 33,700,000	33,724,000
Convertible Debt \| Second Additional Notes
Debt Instrument [Line Items]
Debt instrument, face value	$ 137,500,000
Debt instrument, interest rate	0.50%
Net proceeds from issuance of convertible senior notes	$ 134,300,000
Conversion option	$ 15,600,000
Debt instrument, effective interest rate			5.30%
Payments for capped call transactions				$ 0

CONVERTIBLE SENIOR NOTES AND CAPPED CALL - Carrying Amount of the Liability Component (Details) - Convertible Debt - Convertible Senior Notes - USD ($)	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Feb. 28, 2019
Debt Instrument [Line Items]
Principal	$ 500,000,000	$ 137,500,000	$ 362,500,000	$ 287,500,000
Unamortized debt discount	(48,657,000)		(53,323,000)
Unamortized issuance costs	(3,891,000)		(742,000)
Net carrying amount	$ 447,452,000		$ 308,435,000

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

CONVERTIBLE SENIOR NOTES AND CAPPED CALL - Interest Expense (Details) - Convertible Debt - Convertible Senior Notes - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Debt Instrument [Line Items]
Contractual interest expense	$ 2,271	$ 1,813
Amortization of debt discount	20,105	16,664
Amortization of issuance costs	299	234
Total interest expense	$ 22,675	$ 18,711

CONVERTIBLE SENIOR NOTES AND CAPPED CALL - Net Impact to Stockholders' Equity (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 28, 2019	Mar. 31, 2022	Mar. 31, 2020
Debt Instrument [Line Items]
Total		$ 15,599	$ 3,094
Convertible Debt \| Second Additional Notes
Debt Instrument [Line Items]
Conversion option		15,960
Payments for capped call transactions		0
Issuance costs		(361)
Total		15,599
Convertible Debt \| First Additional Notes
Debt Instrument [Line Items]
Conversion option		12,810
Payments for capped call transactions	$ (9,300)	(9,288)
Issuance costs		(436)
Total		3,086
Convertible Debt \| Initial Notes
Debt Instrument [Line Items]
Conversion option		66,700
Payments for capped call transactions	$ (33,700)	(33,724)
Issuance costs		(1,848)
Total		$ 31,128

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY - Narrative (Details) - USD ($)				1 Months Ended			12 Months Ended
	Sep. 18, 2006	Jan. 01, 2005	Dec. 31, 2004	May 31, 2020	May 31, 2017	May 31, 2006	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020	Feb. 28, 2022	Dec. 31, 2021	Dec. 31, 2020	Aug. 31, 2020	Aug. 31, 2019	Feb. 28, 2019	Aug. 31, 2018	Jan. 31, 2018	Oct. 31, 2017	Aug. 31, 2016	Jul. 31, 2015	Nov. 30, 2014	Aug. 31, 2014	Sep. 30, 2013	Jun. 30, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)							0	0	0
Number of shares released in the period (in shares)							298,414
Payments for Repurchase of Common Stock							$ 44,976,000	$ 0	$ 0
Convertible Debt \| Convertible Senior Notes
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Debt instrument, face value							$ 500,000,000	362,500,000			$ 137,500,000				$ 287,500,000
Debt instrument, interest rate							0.50%				0.50%				0.50%
Restricted stock units and Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized stock-based compensation expense							$ 119,500,000
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of options exercised							15,300,000	8,000,000	10,100,000
Unamortized stock-based compensation expense							$ 41,000
Weighted average period of recognition for unrecognized compensation expense							4 months 24 days
Stock Purchase Right
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized stock-based compensation expense							$ 0
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized stock-based compensation expense							$ 26,100,000
Change in number of shares earned							2.00%
Maximum percentage of awards to be earned							200.00%
Total shareholder return performance, lowest percentage to still earn awards							30.00%
Minimum \| Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period							1 year
Maximum \| Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period							3 years
2017 Repurchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount					$ 25,000,000
Stock repurchase program, remaining authorized repurchase amount							$ 7,100,000
2006 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for future issuance (in shares)						7,000,000
Vesting period							4 years
Expiration period							10 years
Number of shares available for future grant (in shares)							0
2012 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for future issuance (in shares)																								4,100,000
Expiration period							10 years
Number of shares available for future grant (in shares)							8,700,000
Number of additional shares reserved for future issuance (in shares)														12,000,000		16,300,000			4,500,000			6,800,000
2012 Plan \| Minimum \| Restricted stock units and Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period							3 years
2012 Plan \| Maximum \| Restricted stock units and Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period							4 years
2013 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for future issuance (in shares)																							1,000,000
Vesting period							4 years
Expiration period							10 years
Number of shares available for future grant (in shares)							0
Number of additional shares reserved for future issuance (in shares)																				1,200,000	1,200,000
2017 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for future issuance (in shares)																		1,000,000
Vesting period							3 years
Expiration period							10 years
Number of shares available for future grant (in shares)							1,400,000
Number of additional shares reserved for future issuance (in shares)										1,500,000		1,400,000					1,500,000
Employee Stock Purchase Plan \| Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized stock-based compensation expense							$ 3,600,000
Weighted average period of recognition for unrecognized compensation expense							6 months 14 days
Term of extension	10 years				10 years	10 years
Annual increase in shares available for issuance (in shares)					500,000
Number of additional shares reserved for issuance (in shares)				3,000,000
Value of shares issued under employee stock purchase plan							$ 700,000	$ 700,000	$ 600,000
Percentage of market value price of common stock under Employee Stock Purchase Plan							85.00%
Duration of offering period		1 year	2 years
Duration of purchase period		6 months
Maximum contribution percentage amount of employee's base compensation							10.00%						20.00%

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY - Stock-Based Compensation Expense By Statement Of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	$ 133,331	$ 107,638	$ 70,878
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	32,655	31,641	19,712
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	47,202	33,869	20,205
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	39,942	28,933	22,580
Service \| Cost of Sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	8,815	8,811	5,330
Other revenue \| Cost of Sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	$ 4,717	$ 4,384	$ 3,051

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY - Option Activity (Details) - $ / shares	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Number of Shares
Outstanding, beginning balance (in shares)	1,813,000	2,274,000	3,114,000
Granted (in shares)	0	0	0
Exercised (in shares)	(915,000)	(426,000)	(785,000)
Canceled/forfeited (in shares)	(31,000)	(35,000)	(55,000)
Outstanding, ending balance (in shares)	867,000	1,813,000	2,274,000
Vested and expected to vest, end of period (in shares)	867,000
Exercisable, end of period (in shares)	861,000
Weighted Average Exercise Price Per Share
Outstanding, beginning balance (in dollars per share)	$ 9.46	$ 9.50	$ 9.45
Granted (in dollars per share)			0
Exercised (in dollars per share)	7.89	8.67	8.77
Canceled/Forfeited (in dollars per share)	21.90	22.05	17.01
Outstanding, ending balance (in dollars per share)	10.67	$ 9.46	$ 9.50
Vested and expected to vest, ending balance (in dollars per share)	10.67
Exercisable, end of period (in dollars per share)	$ 10.60

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY - Stock Purchase Right and Restricted Stock Unit Activity (Details) - $ / shares shares in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Restricted stock units and Performance stock units
Number of Shares
Beginning balance (in shares)	8,646	8,112	6,836
Granted (in shares)	8,333	6,256	5,592
Vested and released (in shares)	(5,146)	(4,579)	(2,771)
Forfeited (in shares)	(2,458)	(1,143)	(1,545)
Ending balance (in shares)	9,375	8,646	8,112	6,836
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 19.27	$ 19.43	$ 17.45
Granted (in dollars per share)	21.37	18.73	20.50
Vested and released (in dollars per share)	19.82	18.90	16.87
Forfeited (in dollars per share)	20.85	18.96	19.13
Ending balance (in dollars per share)	$ 20.41	$ 19.27	$ 19.43	$ 17.45
Weighted Average Remaining Contractual Term (in Years)	2 years 1 month 9 days	1 year 10 months 6 days	1 year 11 months 15 days	2 years 4 months 17 days
Performance Stock Units
Number of Shares
Beginning balance (in shares)	1,576	1,079	984
Granted (in shares)	497	1,013	293
Granted for performance achievement (in shares)	20	43	547
Vested and released (in shares)	(250)	(350)	(673)
Forfeited (in shares)	(817)	(209)	(72)
Ending balance (in shares)	1,026	1,576	1,079	984
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 27.33	$ 22.05	$ 19.23
Granted (in dollars per share)	30.41	29.00	21.40
Granted performance achievement (in dollars per share)	30.41	29.00	21.40
Vested and released (in dollars per share)	17.15	19.05	17.61
Forfeited (in dollars per share)	23.45	22.38	17.52
Ending balance (in dollars per share)	$ 35.36	$ 27.33	$ 22.05	$ 19.23
Weighted Average Remaining Contractual Term (in Years)	10 months 20 days	1 year 2 months 26 days	1 year 4 months 24 days	1 year 4 months 20 days

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY - Performance Stock Units Information (Details) - Performance Stock Units - $ / shares	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average share price (in dollars per share)	$ 30.98	$ 29.07
Risk-free interest rate, minimum	0.34%	0.15%
Risk-free interest rate, maximum	0.40%	0.18%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility factors ranging	58.65%	55.66%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility factors ranging	59.67%	60.68%

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY - Assumptions Used In Black-Scholes Model (Details) - Employee Stock - $ / shares	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	45.00%	84.00%	32.00%
Expected dividend yield	0.00%	0.00%	0.00%
Risk-free interest rate	0.57%	0.11%	1.79%
Weighted average fair value of rights granted	9 months 18 days	8 months 12 days	8 months 12 days
Weighted average fair value of options granted (in dollars per share)	$ 5.81	$ 8.00	$ 5.66

INCOME TAXES - Narrative (Details) - USD ($)	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($)	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Income Tax Contingency [Line Items]
(Benefit from) provision for income taxes	$ (387,000)	$ 843,000	$ 832,000
Deferred income tax expense (benefit)	(1,253,000)	0	0
Undistributed earnings (losses) of foreign subsidiaries	12,900,000	15,300,000	9,000,000
Deferred tax assets, valuation allowance	349,093,000	160,450,000
Operating loss carryforwards	1,322,100,000
Operating Loss Carryforwards, Subject To Expiration	490,500,000
Operating loss carryforward, indefinitely	831,600,000
Unrecognized tax benefits	9,850,000	7,053,000	6,115,000	$ 5,033,000
Accrued penalties and interest	200,000	$ 0	$ 0
Domestic Tax Authority
Income Tax Contingency [Line Items]
Research tax credit carryforwards	17,300,000
State and Local Jurisdiction
Income Tax Contingency [Line Items]
Operating loss carryforwards	1,067,900,000
Research tax credit carryforwards	19,600,000
Fuze
Income Tax Contingency [Line Items]
Deferred income tax expense (benefit)	$ 1,200,000

INCOME TAXES - Income Tax Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Current:
Federal	$ 0	$ 0	$ 0
State	145	31	185
Foreign	721	812	647
Total current tax provision	866	843	832
Deferred
Federal	(984)	0	0
State	(269)	0	0
Foreign	0	0	0
Total deferred tax provision	(1,253)	0	0
Total income tax provision (benefit)	$ (387)	$ 843	$ 832

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Deferred tax assets
Net operating loss carryforwards	$ 350,242	$ 145,655
Research and development and other credit carryforwards	26,127	22,794
Stock-based compensation	14,877	12,669
Reserves and allowances	23,880	6,198
Lease liability	20,614	22,424
Fixed assets and intangibles	836	6,091
Gross deferred tax assets	436,576	215,831
Valuation allowance	(349,093)	(160,450)
Total deferred tax assets	87,483	55,381
Deferred tax liabilities
Intangibles	(28,529)	0
Deferred sales commissions	(32,857)	(27,166)
Convertible debt	(12,066)	(12,695)
Lease asset	(14,145)	(15,520)
Net deferred taxes	$ (114)	$ 0

INCOME TAXES - Reconciliation of Taxes Provided to Federal Statutory Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Tax benefit at statutory rate	$ (36,909)	$ (34,492)	$ (36,163)
State income taxes before valuation allowance, net of federal effect	(7,754)	(7,445)	(7,680)
Foreign tax rate differential	(2,056)	(2,206)	(1,422)
Research and development credits	(3,362)	(4,078)	(3,892)
Change in valuation allowance	49,620	47,225	51,741
Compensation/option differences	(6,788)	(5,045)	(6,584)
Non-deductible compensation	7,606	6,194	3,017
Other	(744)	690	1,815
Total income tax provision (benefit)	$ (387)	$ 843	$ 832

INCOME TAXES - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Balance at beginning of year	$ 7,053	$ 6,115	$ 5,033
Gross increases - tax position in prior period	1,918	0	0
Gross increases - tax position related to the current year	951	1,140	1,082
Settlements	(63)	0	0
Lapse of statute of limitations	(19)	(202)	0
Currency	10	0	0
Balance at end of year	$ 9,850	$ 7,053	$ 6,115

NET LOSS PER SHARE - Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share [Abstract]
Net loss	$ (45,583)	$ (43,571)	$ (42,324)	$ (43,906)	$ (45,034)	$ (40,225)	$ (38,413)	$ (41,913)	$ (175,383)	$ (165,585)	$ (172,368)
Weighted average common shares outstanding - basic (in shares)									113,354	105,700	99,999
Weighted average common shares outstanding - diluted (in shares)									113,354	105,700	99,999
Net loss per share:
Basic (in dollars per share)	$ (0.39)	$ (0.38)	$ (0.38)	$ (0.40)	$ (0.42)	$ (0.38)	$ (0.37)	$ (0.40)	$ (1.55)	$ (1.57)	$ (1.72)
Diluted (in dollars per share)	$ (0.39)	$ (0.38)	$ (0.38)	$ (0.40)	$ (0.42)	$ (0.38)	$ (0.37)	$ (0.40)	$ (1.55)	$ (1.57)	$ (1.72)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

NET LOSS PER SHARE - Schedule of Antidilutive Awards (Details) - shares shares in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	12,029	12,589	12,047
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	867	1,813	2,274
Restricted stock units and Performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	10,401	10,221	9,191
Potential shares attributable to the ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	761	555	582

GEOGRAPHICAL INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
GEOGRAPHICAL INFORMATION (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Revenue	$ 181,372	$ 156,874	$ 151,557	$ 148,327	$ 144,719	$ 136,685	$ 129,133	$ 121,807	$ 638,130	$ 532,344	$ 446,237
Property and equipment, net	79,016				93,076				79,016	93,076
United States
Segment Reporting Information [Line Items]
Revenue									443,118	390,758	350,368
Property and equipment, net	73,967				87,945				73,967	87,945
International
Segment Reporting Information [Line Items]
Revenue									195,012	141,586	$ 95,869
Property and equipment, net	$ 5,049				$ 5,131				$ 5,049	$ 5,131

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

ACQUISITIONS - Narrative (Details) - USD ($)			2 Months Ended	12 Months Ended
ACQUISITIONS - Narrative (Details) - USD ($)	Jan. 18, 2022	Jul. 17, 2019	Mar. 31, 2022	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Business Acquisition [Line Items]
Business combination, value of stock issued				$ 80,856,000	$ 0	$ 0
Wavecell Pte. Ltd.
Business Acquisition [Line Items]
Business combination, consideration transferred		$ 117,100,000
Payments to acquire businesses, gross		72,800,000
Business combination, value of stock issued		$ 44,300,000
Fuze
Business Acquisition [Line Items]
Business combination, consideration transferred	$ 213,800,000
Payments to acquire businesses, gross	$ 132,900,000
Percentage of interests acquired (in percent)	100.00%
Cash held back in consideration transferred	$ 1,300,000
Number of shares held back in consideration transferred (in shares)	1,153,523
Earnings (loss) of acquiree since acquisition			$ (700,000)
Goodwill, expected to be tax deductible	$ 0
Fair value of acquired receivables	15,100,000
Gross contractual amount	29,600,000
Uncollectable gross contractual amount	14,500,000
Business combination, acquisition related costs				$ 9,700,000
Fuze \| Common Stock
Business Acquisition [Line Items]
Business combination, value of stock issued	$ 80,900,000
Fuze \| Service
Business Acquisition [Line Items]
Revenue of acquiree since acquisition			23,900,000
Fuze \| Other revenue
Business Acquisition [Line Items]
Revenue of acquiree since acquisition			$ 200,000

ACQUISITIONS - Allocation of the Fair Value of Purchase Consideration (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Jan. 18, 2022	Mar. 31, 2021	Mar. 31, 2020
Estimated fair value of liabilities assumed:
Goodwill	$ 266,867		$ 131,520	$ 128,300
Fuze
Business Acquisition [Line Items]
Fair value of consideration transferred		$ 213,784
Estimated fair value of assets acquired:
Cash and cash equivalents		6,081
Accounts receivable		15,110
Other current assets		2,857
Property and equipment		1,406
Operating lease, right-of-use assets		7,261
Intangible assets		119,400
Restricted cash, non-current		868
Other assets		176
Total assets acquired		153,159
Estimated fair value of liabilities assumed:
Accounts payable		(3,250)
Accrued compensation		(3,590)
Accrued taxes		(16,510)
Operating lease liabilities, current		(2,570)
Deferred revenue, current		(14,765)
Other accrued liabilities		(14,420)
Operating lease liabilities, non-current		(4,341)
Deferred revenue, net of current portion		(10,229)
Other liabilities, non-current		(5,817)
Total liabilities assumed		(75,492)
Total identifiable net assets		77,667
Goodwill		136,117
Fair value of consideration transferred		$ 213,784

ACQUISITIONS - Fair Value Intangible Assets Acquired (Details) - Fuze $ in Thousands	12 Months Ended
	Mar. 31, 2022 USD ($)
Business Acquisition [Line Items]
Fair Value	$ 119,400
Customer relationships
Business Acquisition [Line Items]
Fair Value	$ 99,400
Useful life (in Years)	9 years
Developed technology
Business Acquisition [Line Items]
Fair Value	$ 19,500
Useful life (in Years)	3 years
Trade name, trademarks, and domain names
Business Acquisition [Line Items]
Fair Value	$ 500
Useful life (in Years)	1 year

ACQUISITIONS - Schedule of Pro Forma Financials (Details) - Fuze - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Business Acquisition, Pro Forma Information [Abstract]
Revenue	$ 737,660	$ 657,755
Net loss	$ (216,909)	$ (257,673)
Net loss per share basic (in dollars per share)	$ (1.84)	$ (2.36)
Net loss per share diluted (in dollars per share)	$ (1.84)	$ (2.36)

UNAUDITED SELECTED CONSOLIDATED QUARTERLY FINANCIAL DATA (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Total revenue	$ 181,372	$ 156,874	$ 151,557	$ 148,327	$ 144,719	$ 136,685	$ 129,133	$ 121,807	$ 638,130	$ 532,344	$ 446,237
Gross profit	112,871	97,040	92,090	88,571	83,606	76,277	72,637	69,674
Loss from operations	(40,539)	(37,618)	(37,157)	(38,827)	(40,036)	(35,255)	(33,098)	(37,760)	(154,141)	(146,149)	(159,819)
Net loss	$ (45,583)	$ (43,571)	$ (42,324)	$ (43,906)	$ (45,034)	$ (40,225)	$ (38,413)	$ (41,913)	$ (175,383)	$ (165,585)	$ (172,368)
Net loss per share:
Basic (in dollars per share)	$ (0.39)	$ (0.38)	$ (0.38)	$ (0.40)	$ (0.42)	$ (0.38)	$ (0.37)	$ (0.40)	$ (1.55)	$ (1.57)	$ (1.72)
Diluted (in dollars per share)	$ (0.39)	$ (0.38)	$ (0.38)	$ (0.40)	$ (0.42)	$ (0.38)	$ (0.37)	$ (0.40)	$ (1.55)	$ (1.57)	$ (1.72)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

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- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

SUPPLEMENTAL FINANCIAL INFORMATION - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Property, Plant and Equipment [Line Items]
Gross	$ 196,710	$ 185,449
Less: accumulated depreciation and amortization	(117,694)	(92,373)
Total property and equipment, net	79,016	93,076
Computer equipment
Property, Plant and Equipment [Line Items]
Gross	46,037	40,905
Software development costs
Property, Plant and Equipment [Line Items]
Gross	103,190	91,816
Software licenses
Property, Plant and Equipment [Line Items]
Gross	8,103	7,798
Leasehold improvements
Property, Plant and Equipment [Line Items]
Gross	29,064	28,714
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Gross	5,013	5,565
Construction in progress
Property, Plant and Equipment [Line Items]
Gross	$ 5,303	$ 10,651

SUPPLEMENTAL FINANCIAL INFORMATION - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 42.1	$ 39.0	$ 28.4

SUPPLEMENTAL FINANCIAL INFORMATION - Schedule of Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Prepaid expense	$ 24,220	$ 17,971
Contract assets, current	10,514	12,840
Other current assets	3,265	3,284
Total other current assets	$ 37,999	$ 34,095

SUPPLEMENTAL FINANCIAL INFORMATION - Schedule of Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Liability related to lease assignment	$ 0	$ 869
Accrued liabilities	23,167	13,586
Total other current liabilities	$ 23,167	$ 14,455

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Retained earnings	$ 182,366	$ 160,504	$ 190,731	$ 249,390
Accumulated Deficit
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Retained earnings	(766,438)	(591,055)	(422,670)	$ (250,302)
Cumulative Effect, Period of Adoption, Adjustment
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Retained earnings			(2,800)
Cumulative Effect, Period of Adoption, Adjustment \| Accumulated Deficit
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Retained earnings			(2,800)
Total Allowance for Doubtful Accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	8,178	3,106	864
Additions Charged to Expenses	1,997	7,374	3,067
Deductions	(3,658)	(2,302)	(825)
Balance at End of Year	$ 6,517	$ 8,178	$ 3,106

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

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