0001023731-23-000061 | 10-K | XBRL Viewer

LEASES (Tables)

12 Months Ended

Mar. 31, 2023

The components of lease expense were as follows:


	For the years ended March 31,
	2023		2022		2021
Operating lease expense	$	12,030	$	13,482	$	15,210
Variable lease expense	$	6,378	$	3,837	$	2,462
Cash outflows from operating leases	$	18,985	$	17,310	$	9,878

The following table presents supplemental lease information:

March 31, 2023

March 31, 2022

Weighted average remaining lease term

7.0 years

7.4 years

Weighted average discount rate

4.1%

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, 2023:


2024	$	14,277
2025	13,126
2026	12,026
2027	10,712
2028	10,002
Thereafter	28,659
Total lease payments	88,802
Less: imputed interest	(11,675)
Present value of lease liabilities	$	77,127

INCOME TAXES - Reconciliation of Taxes Provided to Federal Statutory Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Tax benefit at statutory rate	$ (15,075)	$ (36,909)	$ (34,492)
State income taxes before valuation allowance, net of federal effect	(3,088)	(7,754)	(7,445)
Foreign tax rate differential	492	(2,056)	(2,206)
Research and development credits	(2,513)	(3,362)	(4,078)
Change in valuation allowance	(1,708)	49,620	47,225
Compensation/option differences	16,858	(6,788)	(5,045)
Non-deductible compensation	4,397	7,606	6,194
Other	3,444	(744)	690
Total income tax provision (benefit)	$ 2,807	$ (387)	$ 843

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Total revenue	$ 743,938	$ 638,130	$ 532,344
Operating costs and expenses:
Research and development	146,220	112,387	92,034
Sales and marketing	311,883	314,223	256,231
General and administrative	110,652	118,103	100,078
Total operating costs and expenses	810,230	792,271	678,493
Loss from operations	(66,292)	(154,141)	(146,149)
Other expense, net	(4,044)	(21,629)	(18,593)
Loss before provision for income taxes	(70,336)	(175,770)	(164,742)
Provision for (benefit from) income taxes	2,807	(387)	843
Net loss	$ (73,143)	$ (175,383)	$ (165,585)
Net loss per share:
Basic (in dollars per share)	$ (0.63)	$ (1.55)	$ (1.57)
Diluted (in dollars per share)	$ (0.63)	$ (1.55)	$ (1.57)
Weighted average number of shares:
Basic (in shares)	115,959	113,354	105,700
Diluted (in shares)	115,959	113,354	105,700
Service revenue
Total revenue	$ 710,044	$ 602,357	$ 495,985
Operating costs and expenses:
Cost of revenue	198,871	195,909	180,082
Other revenue
Total revenue	33,894	35,773	36,359
Operating costs and expenses:
Cost of revenue	$ 42,604	$ 51,649	$ 50,068

INTANGIBLE ASSETS AND GOODWILL - Narrative (Details) - USD ($)	1 Months Ended	12 Months Ended
	Nov. 30, 2022	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets		$ 21,078,000	$ 8,317,000	$ 6,886,000
Fully amortized intangible asset written off		0	13,200,000
Book value of assets sold	$ 300,000
Intangible assets, sale price	1,800,000
Gain on sale of assets	1,800,000	$ 1,821,000	$ 0	$ 0
Gain (loss) on disposition of intangible assets, amount to be received as future services	$ 300,000
Technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, remaining amortization period		2 years 3 months 18 days
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, remaining amortization period		7 years 8 months 12 days

SUPPLEMENTAL FINANCIAL INFORMATION

12 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

SUPPLEMENTAL FINANCIAL INFORMATION

Property and equipment, net consisted of the following:


	March 31,
	2023		2022
Computer equipment	$	56,106	$	46,037
Software development costs	109,590		103,190
Software licenses	10,175		8,103
Leasehold improvements	33,269		29,064
Furniture and fixtures	11,994		5,013
Construction in progress	5,030		5,303
Total property and equipment	226,164		196,710
Less: accumulated depreciation and amortization	(168,293)		(117,694)
Total property and equipment, net	$	57,871	$	79,016

Depreciation and amortization expense was $36.8 million, $42.1 million, and $39.0 million for the years ended March 31, 2023, 2022, and 2021, respectively.

During the year ended March 31, 2023, the Company abandoned and wrote off certain internally-developed software with a net book value of $3.7 million.

Other current assets consisted of the following:


	March 31,
	2023		2022
Prepaid expense	$	18,546	$	24,220
Contract assets, current	11,581		10,514

Other current assets	4,503		3,265
Total other current assets	$	34,630	$	37,999

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Mar. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONSThe Company has been doing business with an outside sales and marketing vendor since December 2017, which became a related party in July 2022 when a member of the Company's board of directors joined the vendor's board of directors. The Company has a two-year contract with this vendor valued at $1.4 million and paid $0.5 million during fiscal 2023.

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Mar. 31, 2023

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,
	2023		2022		2021
Cost of service revenue	$	9,236	$	8,815	$	8,811
Cost of other revenue	3,531		4,717		4,384
Research and development	29,581		32,655		31,641
Sales and marketing	24,921		47,202		33,869
General and administrative	22,267		39,942		28,933
Total	$	89,536	$	133,331	$	107,638

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

The following table presents the RSU activity during the years ended March 31, 2023, 2022, and 2021 (shares in thousands):


	Number of Shares	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (in Years)
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
Granted	13,297	5.71
Vested and released	(5,275)	19.18
Forfeited	(4,404)	12.46
Balance at March 31, 2023	12,993	$	8.56	1.84

The following table presents the PSU activity during the years ended March 31, 2023, 2022, and 2021 (shares in thousands):


	Number of Shares	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (in Years)
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
Granted	853	7.31
Granted for performance achievement1	24	7.31
Vested and released	(128)	25.65
Forfeited	(1,151)	28.11
Balance at March 31, 2023	624	11.30		1.45

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
2023	$	7.05	51.96	%	—	69.30%	3.15	%	—	4.42	%
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,
	2023	2022	2021
Expected volatility	72%	45%	84%
Expected dividend yield	—	—	—
Risk-free interest rate	3.30%	0.57%	0.11%
Weighted average expected term (in years)	0.8 years	0.8 years	0.7 years
Weighted average fair value of rights granted	$2.09	$5.81	$8.00

INCOME TAXES - Income Tax Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Current:
Federal	$ 423	$ 0	$ 0
State	1,331	145	31
Foreign	1,053	721	812
Total current tax provision	2,807	866	843
Deferred
Federal	0	(984)	0
State	0	(269)	0
Foreign	0	0	0
Total deferred tax provision	0	(1,253)	0
Total income tax provision (benefit)	$ 2,807	$ (387)	$ 843

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Related Party Transaction [Line Items]
Related party contract, term	2 years
Related party transaction, amounts of transaction	$ 1,400
Sales and marketing	311,883	$ 314,223	$ 256,231
Affiliated Entity
Related Party Transaction [Line Items]
Sales and marketing	$ 500

ACQUISITIONS (Details) - USD ($) $ / shares in Units, $ in Millions			1 Months Ended
	Jan. 18, 2022	Jul. 17, 2019	Apr. 30, 2023	May 31, 2022
Wavecell
Business Acquisition [Line Items]
Business combination, consideration transferred		$ 117.1
Payments to acquire businesses, gross		72.8
Wavecell \| Common Stock
Business Acquisition [Line Items]
Shares consideration in connection with Fuze acquisition (in shares)		$ 44.3
Fuze
Business Acquisition [Line Items]
Business combination, consideration transferred	$ 213.8
Payments to acquire businesses, gross	$ 132.9
Percentage of interests acquired (in percent)	100.00%
Cash held back in consideration transferred	$ 1.3
Number of shares held back in consideration transferred (in shares)	1,153,523
Number of shares held back in indemnity obligations consideration transferred (in shares)	346,053
Release of cash held back				$ 1.3
Fuze \| Subsequent Event
Business Acquisition [Line Items]
Release of shares held back (in shares)			1,038,171
Fuze \| Common Stock
Business Acquisition [Line Items]
Shares consideration in connection with Fuze acquisition (in shares)	$ 80.9
Weighted average share price (in dollars per share)	$ 15.48

SUPPLEMENTAL FINANCIAL INFORMATION (Tables)

12 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

Components of Property, Plant and Equipment

Property and equipment, net consisted of the following:


	March 31,
	2023		2022
Computer equipment	$	56,106	$	46,037
Software development costs	109,590		103,190
Software licenses	10,175		8,103
Leasehold improvements	33,269		29,064
Furniture and fixtures	11,994		5,013
Construction in progress	5,030		5,303
Total property and equipment	226,164		196,710
Less: accumulated depreciation and amortization	(168,293)		(117,694)
Total property and equipment, net	$	57,871	$	79,016

Schedule of Other Current Assets

Other current assets consisted of the following:


	March 31,
	2023		2022
Prepaid expense	$	18,546	$	24,220
Contract assets, current	11,581		10,514

Other current assets	4,503		3,265
Total other current assets	$	34,630	$	37,999

GEOGRAPHICAL INFORMATION (Tables)

12 Months Ended

Mar. 31, 2023

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,
	2023		2022		2021
United States	$	536,678	$	443,118	$	390,758
International	207,260		195,012		141,586
Total revenue	$	743,938	$	638,130	$	532,344

Long-lived Assets by Geographic Areas


	Property and Equipment as of March 31,
	2023		2022
United States	$	54,191	$	73,967
International	3,680		5,049
Total property and equipment, net	$	57,871	$	79,016

REVENUE RECOGNITION (Tables)

12 Months Ended

Mar. 31, 2023

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, 2023		March 31, 2022
Accounts receivable, net	$	62,307	$	57,400
Contract assets, current	11,581		10,514
Contract assets, non-current	11,141		15,171
Deferred revenue, current	34,909		34,262
Deferred revenue, non-current	10,615		11,430

INTANGIBLE ASSETS AND GOODWILL - Changes in Carrying Amount of Goodwill by Location (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 266,867	$ 131,520
Additions due to acquisitions		136,117
Foreign currency translation	(4)	(770)
Goodwill, ending balance	$ 266,863	$ 266,867

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

CONVERTIBLE SENIOR NOTES, TERM LOAN AND CAPPED CALLS (Tables)

12 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Schedule of Carrying Amount

The following table presents the net carrying amount of the Term Loan:


	March 31, 2023
Principal	$	250,000
Unamortized debt discount and issuance costs	(18,007)
Net carrying amount	$	231,993

Schedule of Interest Expense

Interest expense recognized related to the Term Loans was as follows:


	Year Ended
	March 31, 2023
Contractual interest expense	$	17,816
Amortization of debt discount and issuance costs	2,012
Total interest expense	$	19,828

Interest expense recognized related to the 2028 Notes was as follows:


	Year Ended March 31, 2023

Contractual interest expense	$	4,027
Amortization of debt discount and issuance costs	548
Total interest expense	$	4,575

Interest expense recognized related to the 2024 Notes was as follows:


	Years Ended March 31,
		2023		2022		2021
Contractual interest expense		$	1,177	$	2,271	$	1,813
Amortization of debt discount and issuance costs		1,694		20,404		16,898
Total interest expense		$	2,871	$	22,675	$	18,711

Schedule of Convertible Debt

The following table presents the net carrying amount of the 2028 Notes:


	March 31, 2023
Principal	$	201,914
Unamortized debt discount and issuance costs	(5,093)
Net carrying amount	$	196,821

The following table presents the net carrying amount and fair value of the liability component of the 2024 Notes:


	March 31, 2023		March 31, 2022
Principal	$	63,295	$	500,000
Unamortized debt discount(1) and issuance costs	(363)		(52,548)
Net carrying amount	$	62,932	$	447,452

(1) The debt discount as of March 31, 2022 represents the discount resulting from the allocation of the equity component (conversion option) from the liability component of the 2024 Notes, net of issuance premium, prior to the adoption of ASU 2020-06 on April 1, 2022. Upon the adoption of ASU 2020-06, the equity component was reversed. As a result, the March 31, 2023 debt discount represents only the issuance premium.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

FAIR VALUE MEASUREMENTS - Summary of Assumptions Used in Determination of Fair Value (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value of the warrants	$ 5,497
Stock volatility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrant, measurement input	0.672
Risk-free rate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrant, measurement input	0.036
Expected term
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Expected term	4 years 4 months 24 days

REVENUE RECOGNITION - Narrative (Details) - USD ($)	12 Months Ended
REVENUE RECOGNITION - Narrative (Details) - USD ($)	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract with customer, liability, revenue recognized	$ 33,700,000
Capitalized contract cost, amortization	38,200,000	$ 34,700,000	$ 27,800,000
Capitalized contract cost, impairment loss	$ 0	$ 0	$ 0

NET LOSS PER SHARE

12 Months Ended

Mar. 31, 2023

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,
	2023		2022		2021
Net loss	$	(73,143)	$	(175,383)	$	(165,585)
Weighted average common shares outstanding - basic and diluted (in thousands)	115,959		113,354		105,700

Net loss per share - basic and diluted	$	(0.63)	$	(1.55)	$	(1.57)

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


	For the years ended March 31,
	2023	2022	2021
Stock options	685	867	1,813
Restricted stock units and Performance stock units	13,617	10,401	10,221
Potential shares attributable to the ESPP	1,261	761	555
Warrants to purchase common stock	3,100	—	—
Total anti-dilutive shares	18,663	12,029	12,589

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY - Stock-Based Compensation Expense By Statement Of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	$ 89,536	$ 133,331	$ 107,638
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	29,581	32,655	31,641
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	24,921	47,202	33,869
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	22,267	39,942	28,933
Service \| Cost of Sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	9,236	8,815	8,811
Other revenue \| Cost of Sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	$ 3,531	$ 4,717	$ 4,384

Audit Information	12 Months Ended
Audit Information	Mar. 31, 2023
Audit Information [Abstract]
Auditor Name	Moss Adams LLP
Auditor Location	Campbell, California
Auditor Firm ID	659

INTANGIBLE ASSETS AND GOODWILL (Tables)

12 Months Ended

Mar. 31, 2023

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, 2023						March 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Technology	$	46,461	$	(28,361)	$	18,100	$	46,727	$	(19,852)	$	26,875
Customer relationships	105,836		(16,824)		89,012		105,827		(4,889)		100,938
Trade names and domains	584		(584)		—		583		(183)		400

Total acquired identifiable intangible assets	$	152,881	$	(45,769)	$	107,112	$	153,137	$	(24,924)	$	128,213

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

At March 31, 2023, annual amortization of intangible assets, based upon existing intangible assets and current useful lives, is estimated to be the following:


	Amount
2024	$	20,395
2025	19,095
2026	13,895
2027	11,757
2028 and thereafter	41,970
Total	$	107,112

Schedule of Goodwill

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


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

Foreign currency translation	(4)
Balance at March 31, 2023	$	266,863

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (h)
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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-Subparagraph (c)
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
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-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Interest expense	$ (23,020)	$ (2,271)	$ (1,813)
Amortization of debt discount and issuance costs	(4,254)	(20,404)	(16,898)
Gain on debt extinguishment	18,545	0	0
Gain (loss) on sale of assets	1,821	(68)	(36)
Other income, net	2,864	1,114	154
Other expense, net	$ (4,044)	$ (21,629)	$ (18,593)

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY - Assumptions Used In Black-Scholes Model (Details) - Employee Stock - $ / shares	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	72.00%	45.00%	84.00%
Expected dividend yield	0.00%	0.00%	0.00%
Risk-free interest rate	3.30%	0.57%	0.11%
Weighted average fair value of rights granted	9 months 18 days	9 months 18 days	8 months 12 days
Weighted average fair value of options granted (in dollars per share)	$ 2.09	$ 5.81	$ 8.00

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES	Mar. 31, 2023
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 trades under the symbol "EGHT" on the Nasdaq Global Select Market. The Company is a leading software-as-a-service 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 2023 refers to the fiscal year ended March 31, 2023). 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 all equity interests in 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 revenue 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; revenue 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, which 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 eight 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, 2023 and 2022. 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 between three and four 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 the 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 and the 4% Convertible Senior Notes due 2028 (collectively, the "Notes"), the Company recorded the Notes as liabilities, as the conversion features do not require bifurcation and recognition as embedded derivatives. The excess of the principal amount of the liability over its carrying amount (“debt discount”) is amortized to interest expense over the term of the Notes. The Company recorded the issuance costs as a reduction to the liability portion of the Notes, which are amortized as interest expense over the term of the Notes. WARRANT LIABILITIES Warrants to purchase shares of the Company's common stock are classified as a liability on the consolidated balance sheets and held at fair value, as the warrants contain certain terms that could result in cash settlement as a result of events outside of the Company’s control. The warrants are subject to remeasurement to fair value at each balance sheet date, and any change in fair value is recognized in the consolidated statements of operations. The Company will continue to adjust the liability for changes in fair value until the earlier of the exercise or expiration of the warrants. 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 information technology ("IT") and facilities costs. Research and development costs are expensed as incurred. ADVERTISING COSTS Advertising costs are expensed as incurred and were $1.5 million, $3.4 million, and $9.0 million for the years ended March 31, 2023, 2022, and 2021, 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. 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. Although the Company deposits its cash with multiple financial institutions, its deposits may exceed federally insured limits. 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 March 31, 2023 and 2022, no customer accounted for more than 10% of accounts receivable. For the years ended March 31, 2023, 2022, and 2021, no customer accounted for more than 10% of revenue. 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 the Notes and the Term Loan (as defined in Note 7, Convertible Senior Notes, Term loan and Capped Calls) are recorded at net carrying value. 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 look-back 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 March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting ("ASU 2020-04"), and 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. Effective April 1, 2022, the Company adopted ASU 2020-04 on a prospective basis. The impact of the adoption was immaterial to the Company's consolidated financial statements. In August 2020, the FASB issued 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): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. Effective April 1, 2022, the Company adopted ASU 2020-06 using a modified retrospective approach. Adoption of the new standard resulted in a decrease to accumulated deficit of $46.7 million, a decrease to additional paid-in capital of $92.8 million, and an increase to convertible senior notes, net of $46.2 million. RECENT ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED Other recent accounting pronouncements that may be applicable to the Company are not expected to have a material impact on its present or future financial statements.

INCOME TAXES - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Balance at beginning of year	$ 9,850	$ 7,053	$ 6,115
Gross increases - tax position in prior period	163	1,918	0
Gross increases - tax position related to the current year	158	951	1,140
Settlements	0	(63)	0
Lapse of statute of limitations	(34)	(19)	(202)
Currency	(24)
Currency		10	0
Balance at end of year	$ 10,113	$ 9,850	$ 7,053

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY - Narrative (Details) - USD ($)					1 Months Ended						12 Months Ended
	May 26, 2022	Sep. 18, 2006	Jan. 01, 2005	Dec. 31, 2004	Aug. 31, 2022	May 31, 2022	Dec. 31, 2021	May 31, 2020	May 31, 2017	May 31, 2006	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021	Feb. 28, 2022	Dec. 31, 2020	Aug. 31, 2020	Aug. 31, 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
Payments for Repurchase of Common Stock							$ 45,000,000				$ 60,214,000	$ 44,976,000	$ 0
Number of shares repurchased (in shares)					10,695,000
Shares repurchased					$ 60,000,000
Convertible Senior Notes \| Convertible Debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Debt instrument, face value							$ 137,500,000
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
Restricted stock units and Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized stock-based compensation expense											69,800,000
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of options exercised											40,000,000	15,300,000	8,000,000
Unamortized stock-based compensation expense											0
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											$ 9,000,000
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
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
Number of additional shares reserved for future issuance (in shares)																	12,000,000	16,300,000			4,500,000			6,800,000
Expiration period											10 years
Number of shares available for future grant (in shares)											0
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
Number of additional shares reserved for future issuance (in shares)																						1,200,000	1,200,000
Vesting period											4 years
Expiration period											10 years
Number of shares available for future grant (in shares)											0
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
Number of additional shares reserved for future issuance (in shares)														1,500,000	1,400,000				1,500,000
Vesting period											3 years
Expiration period											10 years
Number of shares available for future grant (in shares)											1,500,000
2022 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for future issuance (in shares)	8,000,000
Expiration period	10 years
Number of shares available for future grant (in shares)											4,100,000
2022 Plan \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
2022 Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Employee Stock Purchase Plan \| Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized stock-based compensation expense											$ 1,200,000
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)						3,600,000		3,000,000
Value of shares issued under employee stock purchase plan											$ 1,100,000	$ 700,000	$ 700,000
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%
Weighted average period of recognition for unrecognized compensation expense											4 months 24 days

CONVERTIBLE SENIOR NOTES, TERM LOAN AND CAPPED CALLS - Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Debt Instrument [Line Items]
Amortization of debt discount and issuance costs	$ 4,254	$ 20,404	$ 16,898
Term Loan \| Convertible Debt
Debt Instrument [Line Items]
Contractual interest expense	17,816
Amortization of debt discount and issuance costs	2,012
Total interest expense	19,828
Convertible Notes 2028 \| Convertible Debt
Debt Instrument [Line Items]
Contractual interest expense	4,027
Amortization of debt discount and issuance costs	548
Total interest expense	4,575
Convertible Senior Notes 2024 \| Convertible Debt
Debt Instrument [Line Items]
Contractual interest expense	1,177	2,271	1,813
Amortization of debt discount and issuance costs	1,694	20,404	16,898
Total interest expense	$ 2,871	$ 22,675	$ 18,711

REVENUE RECOGNITION - Remaining Performance Obligation (Details) $ in Millions	12 Months Ended
	Mar. 31, 2023 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]: 2023-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 775.0
Revenue, remaining performance obligation, percentage	85.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period	24 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	15.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY - Stock Purchase Right and Restricted Stock Unit Activity (Details) - $ / shares shares in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Restricted stock units and Performance stock units
Number of Shares
Beginning balance (in shares)	9,375	8,646	8,112
Granted (in shares)	13,297	8,333	6,256
Vested and released (in shares)	(5,275)	(5,146)	(4,579)
Forfeited (in shares)	(4,404)	(2,458)	(1,143)
Ending balance (in shares)	12,993	9,375	8,646	8,112
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 20.41	$ 19.27	$ 19.43
Granted (in dollars per share)	5.71	21.37	18.73
Vested and released (in dollars per share)	19.18	19.82	18.90
Forfeited (in dollars per share)	12.46	20.85	18.96
Ending balance (in dollars per share)	$ 8.56	$ 20.41	$ 19.27	$ 19.43
Weighted Average Remaining Contractual Term (in Years)	1 year 10 months 2 days	2 years 1 month 9 days	1 year 10 months 6 days	1 year 11 months 15 days
Performance Stock Units
Number of Shares
Beginning balance (in shares)	1,026	1,576	1,079
Granted (in shares)	853	497	1,013
Granted for performance achievement (in shares)	24	20	43
Vested and released (in shares)	(128)	(250)	(350)
Forfeited (in shares)	(1,151)	(817)	(209)
Ending balance (in shares)	624	1,026	1,576	1,079
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 35.36	$ 27.33	$ 22.05
Granted (in dollars per share)	7.31	30.41	29.00
Granted performance achievement (in dollars per share)	7.31	30.41	29.00
Vested and released (in dollars per share)	25.65	17.15	19.05
Forfeited (in dollars per share)	28.11	23.45	22.38
Ending balance (in dollars per share)	$ 11.30	$ 35.36	$ 27.33	$ 22.05
Weighted Average Remaining Contractual Term (in Years)	1 year 5 months 12 days	10 months 20 days	1 year 2 months 26 days	1 year 4 months 24 days

Cover Page - USD ($) $ in Billions	12 Months Ended
Cover Page - USD ($) $ in Billions	Mar. 31, 2023	May 18, 2023	Sep. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Mar. 31, 2023
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	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 0.2
Entity Common Stock, Shares Outstanding		116,364,248
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, 2023 for the 2023 Annual Meeting of Stockholders.
Entity Central Index Key	0001023731
Amendment Flag	false
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023

LEASES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
LEASES - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Operating lease, impairment loss	$ 2,651	$ 0	$ 0

CONVERTIBLE SENIOR NOTES, TERM LOAN AND CAPPED CALLS

12 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

CONVERTIBLE SENIOR NOTES, TERM LOAN AND CAPPED CALLS

2024 Notes

In February 2019, the Company issued $287.5 million aggregate principal amount of 0.50% convertible senior notes due 2024 (the "Initial 2024 Notes") 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 due 2024 (the "First Additional 2024 Notes") in a registered offering under the same indenture as the Initial 2024 Notes. The total net proceeds from the First Additional 2024 Notes, after deducting underwriting 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 due 2024 (the "Second Additional 2024 Notes", and together with the Initial 2024 Notes and the First Additional 2024 Notes, the "2024 Notes") in a private placement under the same indenture as the Initial 2024 Notes and the First Additional 2024 Notes. The total net proceeds from the Second Additional 2024 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 2024 Notes and Second Additional 2024 Notes constitute a further issuance of, and form a single series with, the Initial 2024 Notes. Immediately after giving effect to the issuance of the Second Additional 2024 Notes, the Company had $500.0 million aggregate principal amount of convertible senior notes. For details on the net carrying amount and fair value of the liability component of the 2024 Notes, as well as the interest expense recognized related to the 2024 Notes, see the section entitled “Exchange Transaction and 2028 Notes” below.

The 2024 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 2024 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 2024 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 2024 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 2024 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 2024 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 2024 Notes in cash upon conversion. During the year ended March 31, 2023, the conditions allowing holders of the 2024 Notes to convert were not met.

Under the terms of the 2024 Notes, the Company could not redeem the 2024 Notes prior to February 4, 2022. On or after February 4, 2022, the Company may redeem for cash all or part of the 2024 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 2024 Notes may require the Company to repurchase for cash all or any portion of their 2024 Notes at a repurchase price equal to 100% of the principal amount of the 2024 Notes to be repurchased, plus accrued and unpaid interest, but excluding, the fundamental change repurchase date.

The 2024 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 2024 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.

Prior to April 1, 2022, the Company accounted for the 2024 Notes as separate liability and equity components. On issuance, the carrying amount of the equity components was recorded as a debt discount and subsequently amortized to interest expense. Effective April 1, 2022, the Company adopted ASU 2020-06 using a modified retrospective approach. As a result, the 2024 Notes are accounted for as a single liability measured at its amortized cost, as no other embedded features require bifurcation and

recognition as derivatives. Adoption of the new standard resulted in a decrease to accumulated deficit of $46.7 million, a decrease to additional paid-in capital of $92.8 million and an increase to convertible senior notes, net of $46.2 million. The 2024 Notes have no original issuance discounts. Unamortized debt discount and issuance costs will be amortized over the remaining life of the 2024 Notes, which is approximately nine months.

Capped Calls

In connection with the pricing of the Initial 2024 Notes and the First Additional 2024 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 2024 Notes and the First Additional 2024 Notes. The Capped Calls have initial cap prices of $39.50 per share, subject to certain adjustments. The Capped Calls cover, subject to anti-dilution adjustments, approximately 14.1 million shares of the Company’s common stock. In February 2023, the Company unwound the Capped Calls and received $0.2 million in cash, which was recorded as Additional Paid in Capital.

Term Loan and Warrants

On August 10, 2022, the Company borrowed $250.0 million in a senior secured term loan facility (the “Term Loan”) under a term loan credit agreement (the “Credit Agreement”) entered into on August 3, 2022 with Wilmington Savings Fund Society, FSB, as administrative agent, and certain affiliates of Francisco Partners (“FP”), with aggregate debt issuance costs and discount of approximately $20.0 million, including $2.8 million paid in the form of shares of the Company's common stock. The Term Loan matures on August 3, 2027 and will initially bear interest at an annual rate equal to the term Standard Overnight Financing Rate ("Term SOFR") (which will be subject to a floor of 1.00% and a credit spread adjustment of 0.10%), plus a margin of 6.50%.

The obligations under the Credit Agreement will be guaranteed by the Company’s wholly-owned subsidiaries, subject to certain customary exceptions, and secured by a perfected security interest in substantially all of the Company’s tangible and intangible assets, as well as substantially all of the tangible and intangible assets of the guarantors.

Mandatory prepayments of the Term Loan are required to be made upon the occurrence of certain events, including, without limitation, (i) sales of certain assets, (ii) receipt of certain casualty and condemnation awards proceeds, and (iii) the incurrence of non-permitted indebtedness, subject to certain thresholds and reinvestment rights. Voluntary prepayments are permitted at any time, subject to certain prepayment premiums.

The Credit Agreement contains a minimum adjusted cash Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) financial covenant, a minimum liquidity covenant and a maximum secured leverage ratio financial covenant and contains affirmative and negative covenants customary for transactions of this type, including limitations with respect to indebtedness, liens, investments, dividends, disposition of assets, change in business, and transactions with affiliates.

The Company used the proceeds from the issuance of the Term Loan to fund the cash portion of an exchange of the Company’s approximately $403.8 million principal amount of the 2024 Notes for cash plus approximately $201.9 million of the 2028 Notes (defined below), and the concurrent repurchase of approximately $60.0 million of the Company’s common stock with the counterparties to such exchange.

In connection with the Credit Agreement, the Company issued detachable warrants (the “Warrants”) to affiliates of FP to purchase an aggregate of 3.1 million shares of the Company’s common stock with a five-year term and an exercise price of $7.15 per share (subject to adjustment) that represents a 27.5% premium over the closing price per share of the Company’s common stock on August 3, 2022. The Warrants are classified as liabilities as the Warrants contain certain terms that could result in cash settlement as a result of events outside of the Company’s control. Accordingly, the Company recognizes the Warrants as liabilities at fair value initially and adjusts the Warrants to fair value at each reporting period. The fair value of the Warrants was $5.9 million upon issuance, and $5.5 million at March 31, 2023, and was recorded within Other liabilities, non-current on the condensed consolidated balance sheets with a corresponding debt discount recorded against the Term Loan. The subsequent changes in fair value were recorded through Other income (expense), net on the Company’s condensed consolidated statement of operations.

The debt discount and debt issuance costs are amortized to interest expense over the term of the Term Loan at an effective interest rate of 11.0%.

The following table presents the net carrying amount of the Term Loan:


	March 31, 2023
Principal	$	250,000
Unamortized debt discount and issuance costs	(18,007)
Net carrying amount	$	231,993

Interest expense recognized related to the Term Loans was as follows:


	Year Ended
	March 31, 2023
Contractual interest expense	$	17,816
Amortization of debt discount and issuance costs	2,012
Total interest expense	$	19,828

Exchange Transaction and 2028 Notes

Exchange Transaction

On August 11, 2022, the Company issued approximately $201.9 million aggregate principal amount of its 4.00% convertible senior notes due 2028 (the “2028 Notes”), pursuant to an indenture, dated as of August 11, 2022 (the “2028 Notes Indenture”), by and between the Company and Wilmington Trust, National Association, as trustee (the “Trustee”).

The Company used the proceeds from the issuance of the 2028 Notes, together with approximately $181.8 million in cash consideration from borrowing of the Term Loan, in exchange for approximately $403.8 million aggregate principal amount of the Company’s outstanding 2024 Notes pursuant to privately negotiated agreements (the “Exchange Agreements”) with a limited number of existing holders of the 2024 Notes (the “Exchange Transaction”). In connection with the Exchange Transaction, the Company purchased an aggregate of approximately $60.0 million of the Company’s common stock in privately negotiated transactions from existing holders of the 2024 Notes who participated in the Exchange Transaction.

The Exchange Transaction was treated as a debt extinguishment. The difference between the consideration used to extinguish the 2024 Notes and the carrying value of the 2024 Notes (including unamortized debt discount and issuance costs) subject to the Exchange Transaction resulted in an extinguishment gain of $16.1 million recorded through Other income (expense), net on the Company’s condensed consolidated statement of operations.

The Capped Calls were not modified or settled as part of the Exchange Transaction and continued to be classified in stockholders' equity as long as they continued to meet the conditions for equity classification. These were subsequently unwound in February 2023.

2028 Notes

As part of the Exchange Transaction, the Company issued $201.9 million aggregate principal amount of the 2028 Notes, with debt issuance costs of approximately $5.6 million, of which 50% was paid in the form of shares of the Company's common stock.

The 2028 Notes are senior obligations of the Company that accrue interest, payable semi-annually in arrears on February 1 and August 1 of each year, commencing on February 1, 2023. The 2028 Notes will mature on February 1, 2028, unless earlier converted, redeemed or repurchased. The initial conversion rate is 139.8064 shares of the Company’s common stock per $1,000 principal amount of the 2028 Notes (equivalent to an initial conversion price of approximately $7.15 per share), subject to customary adjustments. Upon conversion of the 2028 Notes, the Company may elect to satisfy the conversion obligation by cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s stock.

Prior to the close of business on the business day immediately preceding November 15, 2027, the 2028 Notes will be convertible only under the following circumstances:

1.At any time during any fiscal quarter commencing after the fiscal quarter ending on December 31, 2022 (and only during such fiscal 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, and including, the last trading day of the immediately preceding fiscal 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 five consecutive trading day period (the measurement period), if the trading price per $1,000 principal amount of the 2028 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 and the conversion rate on each such trading day;

3.If the Company calls any or all of the 2028 Notes for redemption prior to the close of business on the business day immediately preceding November 15, 2027; or

4.Upon the occurrence of specified corporate events (as set forth in the 2028 Notes Indenture).

On or after November 15, 2027, holders of the 2028 Notes may convert their 2028 Notes at their option at any time until the close of business on the second Scheduled Trading Day immediately preceding the maturity date.

Under the terms of the 2028 Notes, the Company cannot redeem the 2028 Notes prior to August 6, 2025. On or after August 6, 2025, the Company may, at its option, redeem for cash all or any portion of the 2028 Notes at a redemption price equal to 100% of the principal amount, plus accrued unpaid interest, only upon the satisfaction of certain conditions and during certain periods,

including if the last reported sale price of the Company’s 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 2028 Notes Indenture) occurs at any time prior to February 1, 2028, holders of 2028 Notes may require the Company to repurchase for cash all or any portion of their 2028 Notes at a repurchase price equal to 100% of the principal amount of the 2028 Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the repurchase date. In addition, in connection with certain corporate events or if the Company issues a notice of redemption, a fundamental change will, under certain circumstances, increase the conversion rate for holders who elect to convert their 2028 Notes in connection with such corporate event or during the relevant redemption period.

The 2028 Notes Indenture contains customary terms and covenants, including that upon certain events of default occurring and continuing, either the Trustee or holders of no less than 25% in aggregate principal amount of the 2028 Notes then outstanding may declare the entire principal amount of all the 2028 Notes, and the interest accrued on such 2028 Notes, if any, to become immediately due and payable. Upon events of default in connection with specified bankruptcy events involving the Company, the 2028 Notes will become due and payable immediately.

The debt discount and debt issuance costs are amortized to interest expense over the term of the 2028 Notes at an effective interest rate of 4.7%.

The following table presents the net carrying amount of the 2028 Notes:


	March 31, 2023
Principal	$	201,914
Unamortized debt discount and issuance costs	(5,093)
Net carrying amount	$	196,821

Interest expense recognized related to the 2028 Notes was as follows:


	Year Ended March 31, 2023

Contractual interest expense	$	4,027
Amortization of debt discount and issuance costs	548
Total interest expense	$	4,575

Repayment of 2024 Notes

In addition to the Exchange Transaction, the Company completed three repurchases of the 2024 Notes during fiscal 2023 for a total of approximately $32.9 million in aggregate principal amount.

On September 28, 2022, the Company repurchased an aggregate principal amount of $6.0 million of the 2024 Notes through a privately negotiated transaction with one of the remaining 2024 Notes holders for an aggregate purchase price of $5.3 million. The aggregate purchase price was paid in cash and only partially settled the outstanding 2024 Notes with the holder; accordingly, the repurchase consideration was accounted for as a debt modification with no extinguishment gain or loss.

On December 9, 2022, the Company repurchased an aggregate principal amount of $21.8 million of the 2024 Notes through privately negotiated transactions with two of the remaining 2024 Notes holders for an aggregate purchase price of $20.1 million in cash. The repurchase consideration was accounted for as a debt extinguishment, resulting in a $2.1 million gain.

On February 23, 2023, the Company repurchased an aggregate principal amount of $5.0 million of the 2024 Notes through a privately negotiated transaction with one of the remaining 2024 Notes holders for an aggregate purchase price of $4.7 million in cash. The repurchase consideration was accounted for as a debt extinguishment, resulting in a $0.3 million gain.

The following table presents the net carrying amount and fair value of the liability component of the 2024 Notes:


	March 31, 2023		March 31, 2022
Principal	$	63,295	$	500,000
Unamortized debt discount(1) and issuance costs	(363)		(52,548)
Net carrying amount	$	62,932	$	447,452

The debt discount and debt issuance costs are amortized to interest expense over the term of the 2024 Notes at an effective interest rate of 1.2%.

Interest expense recognized related to the 2024 Notes was as follows:


	Years Ended March 31,
		2023		2022		2021
Contractual interest expense		$	1,177	$	2,271	$	1,813
Amortization of debt discount and issuance costs		1,694		20,404		16,898
Total interest expense		$	2,871	$	22,675	$	18,711

- 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
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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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
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-Publisher FASB
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-Name Accounting Standards Codification
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+ Details

SUPPLEMENTAL FINANCIAL INFORMATION - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 36,800	$ 42,100	$ 39,000
Impairment of capitalized software	$ 3,729

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY

12 Months Ended

Mar. 31, 2023

Equity [Abstract]

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY

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 provided 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 was not permitted to be less than the fair market value on the effective date of the grant. Other types of options and awards under the 2012 Plan could be granted at any price approved by the administrator. Options, restricted stock, and restricted stock units generally vest over three or four years and expire ten years after grant. The 2012 Plan expired in June 2022. As of March 31, 2023, there were no shares 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 Company's 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 were 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. Grants generally vested 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, 2023, 1.5 million shares remained available for future grants under the 2017 plan.

2022 Equity Incentive Plan

On May 26, 2022, the Company's board of directors approved the 2022 Equity Incentive Plan (the "2022 Plan"). The Company's stockholders subsequently approved the 2022 Plan on July 12, 2022. The Company reserved 8.0 million shares of the Company's common stock for issuance under the 2022 Plan plus the number of shares subject to awards that were outstanding under the 2012 Plan (as defined below) as of 12:01 a.m. Pacific Time on June 22, 2022 (the “Prior Plan Expiration Time”), to the extent that, after the Prior Plan Expiration Time, such shares would have recycled back to the 2012 Plan in connection with the awards’ expiration, termination, cancellation, forfeiture, or repurchase, and in each case, subject to adjustment upon certain changes in the Company’s capitalization. The 2022 Plan provides for the granting of 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, and stock grants. The stock option price of incentive stock options granted cannot be less than the fair market value on the effective date of the grant. Options, restricted stock, and restricted stock units generally vest over three or four years and expire ten years after the grant. As of March 31, 2023, 4.1 million shares remained available for future grants under the 2022 Plan.

Stock-Based Compensation

The following table presents stock-based compensation expense:


	Years Ended March 31,
	2023		2022		2021
Cost of service revenue	$	9,236	$	8,815	$	8,811
Cost of other revenue	3,531		4,717		4,384
Research and development	29,581		32,655		31,641
Sales and marketing	24,921		47,202		33,869
General and administrative	22,267		39,942		28,933
Total	$	89,536	$	133,331	$	107,638

Stock Options

The total intrinsic value of options exercised in the years ended March 31, 2023, 2022, and 2021, was $40,000, $15.3 million and $8.0 million, respectively.

As of March 31, 2023, there was no unrecognized compensation cost related to stock options.

The Company did not grant any stock options during fiscal years 2023, 2022, or 2021.

Stock Purchase Rights

There were no activities related to stock purchase rights during the years ended March 31, 2023, 2022, and 2021.

As of March 31, 2023, 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, 2023, 2022, and 2021 (shares in thousands):


	Number of Shares	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (in Years)
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
Granted	13,297	5.71
Vested and released	(5,275)	19.18
Forfeited	(4,404)	12.46
Balance at March 31, 2023	12,993	$	8.56	1.84

As of March 31, 2023, there was $69.8 million of total unrecognized compensation cost related to RSUs.

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, 2023, 2022, and 2021 (shares in thousands):


	Number of Shares	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (in Years)
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
Granted	853	7.31
Granted for performance achievement1	24	7.31
Vested and released	(128)	25.65
Forfeited	(1,151)	28.11
Balance at March 31, 2023	624	11.30		1.45

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, 2023, there was $9.0 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
2023	$	7.05	51.96	%	—	69.30%	3.15	%	—	4.42	%
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 Employee 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 Company's 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 2020, these changes were approved. As a result of these

amendments, the Employee Stock Purchase Plan is effective until terminated by the Company's board of directors. In May 2022, the Company's board of directors approved amendments to the Employee Stock Purchase Plan, including an amendment that reserved for issuance of an additional 3,600,000 shares, which were approved by the stockholders in July 2022 at the 2022 Annual Meeting. During fiscal 2023, 2022 and 2021, approximately 1.1 million, 0.7 million, and 0.7 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, 2023, there was approximately $1.2 million of unrecognized compensation cost related to employee stock purchases. This cost is expected to be recognized over a weighted average period of 0.4 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,
	2023	2022	2021
Expected volatility	72%	45%	84%
Expected dividend yield	—	—	—
Risk-free interest rate	3.30%	0.57%	0.11%
Weighted average expected term (in years)	0.8 years	0.8 years	0.7 years
Weighted average fair value of rights granted	$2.09	$5.81	$8.00

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 Company's board of directors. The remaining amount available under the Repurchase Plan as of March 31, 2023 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 the 2024 Notes.

In August 2022, the Company repurchased in privately negotiated transactions with a limited number of holders 10,695,000 shares of its common stock for approximately $60 million, in connection with the Exchange Transaction and negotiation of the Term Loan, as further described in Note 7, Convertible Senior Notes, Term Loan and Capped Calls.

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Current assets:
Cash and cash equivalents	$ 111,400	$ 91,205
Restricted cash, current	511	8,691
Short-term investments	26,228	44,845
Accounts receivable, net	62,307	57,400
Deferred sales commission costs, current	38,048	35,482
Other current assets	34,630	37,999
Total current assets	273,124	275,622
Property and equipment, net	57,871	79,016
Operating lease, right-of-use assets	52,444	63,415
Intangible assets, net	107,112	128,213
Goodwill	266,863	266,867
Restricted cash, non-current	818	818
Long-term investments	0	2,671
Deferred sales commission costs, non-current	67,644	75,668
Other assets, non-current	15,934	17,978
Total assets	841,810	910,268
Current liabilities:
Accounts payable	46,802	49,721
Accrued compensation	29,614	36,319
Accrued taxes	29,570	32,573
Operating lease liabilities, current	11,504	15,485
Deferred revenue, current	34,909	34,262
Convertible senior notes, current	62,932	0
Other accrued liabilities	14,556	23,167
Total current liabilities	229,887	191,527
Operating lease liabilities, non-current	65,623	74,518
Deferred revenue, non-current	10,615	11,430
Convertible senior notes, non-current	196,821	447,452
Term loan	231,993	0
Other liabilities, non-current	6,965	2,975
Total liabilities	741,904	727,902
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, 2023 and 2022	0	0
Common stock: $0.001 par value, 300,000,000 and 200,000,000 shares authorized, 114,659,255 shares and 117,862,807 shares issued and outstanding at March 31, 2023 and 2022, respectively	115	118
Additional paid-in capital	905,635	956,599
Accumulated other comprehensive loss	(12,927)	(7,913)
Accumulated deficit	(792,917)	(766,438)
Total stockholders' equity	99,906	182,366
Total liabilities and stockholders' equity	$ 841,810	$ 910,268

FAIR VALUE MEASUREMENTS

12 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

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


As of March 31, 2023	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	$	95,828	$	—	$	—	$	95,828	$	95,828	$	—	$	—	$	—
Level 1:
Money market funds	8,935		—		—		8,935		8,935		—		—		—
Treasury securities	1,599		4		(1)		1,602		—		—		1,602		—
Subtotal	106,362		4		(1)		106,365		104,763		—		1,602		—
Level 2:
Certificates of deposit	1,329		—		—		1,329		—		1,329		—		—
Commercial paper	8,610		—		(2)		8,608		6,637		—		1,971		—
Corporate debt	22,625		55		(25)		22,655		—		—		22,655		—
Subtotal	32,564		55		(27)		32,592		6,637		1,329		24,626		—
Total assets	$	138,926	$	59	$	(28)	$	138,957	$	111,400	$	1,329	$	26,228	$	—


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:
Certificates 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

Certificates 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, 2023, 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, 2023, the Company did not record any allowance for credit losses on its investments.

The following table presents additional information about valuation techniques and inputs used for the Warrants (see Note 7, Convertible Senior Notes, Term Loan and Capped Calls) that are measured at fair value and categorized within Level 3 as of March 31, 2023 (fair value amounts in thousands):

Fair Value

Valuation Technique

Unobservable Inputs

Inputs value

Warrants

$5,497

Black-Scholes option-pricing model

Stock volatility

67.2%

Risk-free rate

3.6%

Expected term

4.4

As of March 31, 2023 and March 31, 2022, the estimated fair value of the 2024 Notes was $57.3 million and $470.5 million, respectively. As of March 31, 2023, the estimated fair value of the 2028 Notes (refer to Note 7, Convertible Senior Notes, Term Loan and Capped Calls) was $183.0 million. The fair value of the 2024 Notes and 2028 Notes was determined based on the closing price for the 2024 Notes and 2028 Notes, respectively, 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 2024 Notes and 2028 Notes. As of March 31, 2023, the estimated fair value of the Term Loan was $226.4 million. The fair value of the Term Loan was estimated based on the quoted market prices for the same issues or on the current rates offered for debt of similar remaining maturities.

- 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

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Mar. 31, 2023
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. 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, 2023. 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. 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 $70.0 million as of March 31, 2023. 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 and/or accrues for all taxes and surcharges that it believes are required. 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, 2023 and 2022, the Company had accrued contingent indirect tax liabilities of $13.5 million and $17.2 million, respectively.

INTANGIBLE ASSETS AND GOODWILL - Schedule Of Future Amortization Of Intangibles (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 20,395
2025	19,095
2026	13,895
2027	11,757
2028 and thereafter	41,970
Total	$ 107,112

SUPPLEMENTAL FINANCIAL INFORMATION - Schedule of Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Prepaid expense	$ 18,546	$ 24,220
Contract assets, current	11,581	10,514
Other current assets	4,503	3,265
Total other current assets	$ 34,630	$ 37,999

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2023	Mar. 31, 2022
State and Local Taxes and Surcharges
Lessee, Lease, Description [Line Items]
Accrued contingent indirect tax liabilities	$ 13.5	$ 17.2
Third-Party Customer Support Commitments
Lessee, Lease, Description [Line Items]
Other commitment	$ 70.0

REVENUE RECOGNITION - Contract Balances (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 62,307	$ 57,400
Contract assets, current	11,581	10,514
Contract assets, non-current	11,141	15,171
Deferred revenue, current	34,909	34,262
Deferred revenue, non-current	$ 10,615	$ 11,430

CONVERTIBLE SENIOR NOTES, TERM LOAN AND CAPPED CALLS - Exchange Transaction and 2028 Notes (Details)				1 Months Ended		12 Months Ended
	Feb. 23, 2023 USD ($) debtHolder	Dec. 09, 2022 USD ($) debtHolder	Aug. 11, 2022 USD ($) d $ / shares	Aug. 31, 2022 USD ($)	Feb. 28, 2019 USD ($) d $ / shares	Mar. 31, 2023 USD ($) repurchase	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Sep. 28, 2022 USD ($) debtHolder	Aug. 10, 2022 USD ($)
Debt Instrument [Line Items]
Shares repurchased				$ 60,000,000
Gain on debt extinguishment						$ 18,545,000	$ 0	$ 0
Convertible Notes 2028 \| Convertible Debt
Debt Instrument [Line Items]
Debt instrument, face value			$ 201,900,000			201,914,000				$ 201,900,000
Debt instrument, interest rate			4.00%
Debt issuance costs, net			$ 5,600,000
Debt issuance costs, percentage paid in common stock			50.00%
Debt instrument, convertible, conversion ratio			0.1398064
Debt instrument, convertible, conversion price (in dollars per share) \| $ / shares			$ 7.15
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			5
Debt instrument, threshold percentage of sales price per share			98.00%
Debt instrument, redemption price, percentage			100.00%
Minimum percentage held in convertible notes to declare principal amount due			25.00%
Debt instrument, effective interest rate			4.70%
Term Loan \| Loans Payable
Debt Instrument [Line Items]
Debt instrument, face value						250,000,000				$ 250,000,000
Debt instrument, effective interest rate										11.00%
Term Loan \| Exchange Transaction \| Loans Payable
Debt Instrument [Line Items]
Proceeds from debt, cash consideration			$ 181,800,000
Convertible Senior Notes 2024 \| Convertible Debt
Debt Instrument [Line Items]
Debt instrument, face value					$ 287,500,000	$ 63,295,000	$ 500,000,000			$ 403,800,000
Debt instrument, interest rate					0.50%
Gain on debt extinguishment	$ 300,000	$ 2,100,000	$ 16,100,000
Debt instrument, convertible, conversion ratio					0.0389484
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%
Debt instrument, effective interest rate			1.20%
Debt instrument, number of repurchases \| repurchase						3
Debt instrument repurchased face amount	$ 5,000,000	$ 21,800,000				$ 32,900,000			$ 6,000,000
Number of debt holders \| debtHolder	1	2							1
Debt Instrument repurchase	$ 4,700,000	$ 20,100,000							$ 5,300,000
Convertible Senior Notes 2024 \| Convertible Debt \| Common Stock
Debt Instrument [Line Items]
Shares repurchased			$ 60,000,000
Convertible Senior Notes 2024 \| Exchange Transaction \| Convertible Debt
Debt Instrument [Line Items]
Debt instrument, face value			$ 403,800,000

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (73,143)	$ (175,383)	$ (165,585)
Other comprehensive income (loss), net of tax
Unrealized gain (loss) on investments in securities	(184)	(571)	247
Foreign currency translation adjustment	(4,830)	(3,149)	7,736
Comprehensive loss	$ (78,157)	$ (179,103)	$ (157,602)

- Definition

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

+ References

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+ Details

FAIR VALUE MEASUREMENTS - Narrative (Details) - Level 2 - USD ($) $ in Millions	Mar. 31, 2023	Mar. 31, 2022
Convertible Senior Notes 2024 \| Convertible Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 57.3	$ 470.5
Convertible Notes 2028 \| Convertible Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	183.0
Term Loan \| Loans Payable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 226.4

LEASES

12 Months Ended

Mar. 31, 2023

Leases [Abstract]

LEASES

The components of lease expense were as follows:


	For the years ended March 31,
	2023		2022		2021
Operating lease expense	$	12,030	$	13,482	$	15,210
Variable lease expense	$	6,378	$	3,837	$	2,462
Cash outflows from operating leases	$	18,985	$	17,310	$	9,878

Short-term lease expense was immaterial during the years ended March 31, 2023 and 2022. The Company continues to evaluate its lease for potential impairments. During fiscal 2023, certain leases were impaired. As a result, $2.7 million of right of use assets were written off.

The following table presents supplemental lease information:

March 31, 2023

March 31, 2022

Weighted average remaining lease term

7.0 years

7.4 years

Weighted average discount rate

4.1%

4.0%

The following table presents maturity of lease liabilities under the Company's non-cancellable operating leases as of March 31, 2023:


2024	$	14,277
2025	13,126
2026	12,026
2027	10,712
2028	10,002
Thereafter	28,659
Total lease payments	88,802
Less: imputed interest	(11,675)
Present value of lease liabilities	$	77,127

CONVERTIBLE SENIOR NOTES, TERM LOAN AND CAPPED CALLS - 2024 Notes and Capped Call (Details) $ / shares in Units, shares in Millions	1 Months Ended				12 Months Ended
	Feb. 28, 2023 USD ($)	Dec. 31, 2021 USD ($)	Nov. 30, 2019 USD ($)	Feb. 28, 2019 USD ($) d $ / shares shares	Mar. 31, 2023 USD ($) $ / shares	Aug. 10, 2022 USD ($)	Apr. 01, 2022 USD ($)	Mar. 31, 2022 USD ($) $ / shares
Debt Instrument [Line Items]
Common stock, par value per share (in dollars per share) \| $ / shares					$ 0.001			$ 0.001
Accumulated deficit					$ 792,917,000			$ 766,438,000
Additional paid-in capital					(905,635,000)			(956,599,000)
Convertible Debt \| Accounting Standards Update 2020-06
Debt Instrument [Line Items]
Accumulated deficit							$ 46,700,000
Additional paid-in capital							92,800,000
Term loan							$ 46,200,000
Convertible Debt \| Convertible Senior Notes 2024
Debt Instrument [Line Items]
Debt instrument, face value				$ 287,500,000	$ 63,295,000	$ 403,800,000		$ 500,000,000
Debt instrument, interest rate				0.50%
Net proceeds from term loan				$ 245,800,000
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					9 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
Additional paid in capital, unwinding of capped calls	$ 200,000
Convertible Debt \| Convertible Senior Notes 2024 \| 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 term loan			$ 64,600,000
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 term loan		$ 134,300,000
Convertible Debt \| Aggregate Notes
Debt Instrument [Line Items]
Debt instrument, face value		$ 500,000,000

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Value Measurements

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


As of March 31, 2023	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	$	95,828	$	—	$	—	$	95,828	$	95,828	$	—	$	—	$	—
Level 1:
Money market funds	8,935		—		—		8,935		8,935		—		—		—
Treasury securities	1,599		4		(1)		1,602		—		—		1,602		—
Subtotal	106,362		4		(1)		106,365		104,763		—		1,602		—
Level 2:
Certificates of deposit	1,329		—		—		1,329		—		1,329		—		—
Commercial paper	8,610		—		(2)		8,608		6,637		—		1,971		—
Corporate debt	22,625		55		(25)		22,655		—		—		22,655		—
Subtotal	32,564		55		(27)		32,592		6,637		1,329		24,626		—
Total assets	$	138,926	$	59	$	(28)	$	138,957	$	111,400	$	1,329	$	26,228	$	—


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:
Certificates 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

Fair Value Measurement Inputs and Valuation Techniques

Fair Value

Valuation Technique

Unobservable Inputs

Inputs value

Warrants

$5,497

Black-Scholes option-pricing model

Stock volatility

67.2%

Risk-free rate

3.6%

Expected term

4.4

- 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

LEASES - Supplemental Information (Details)	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Weighted average remaining lease term	7 years	7 years 4 months 24 days
Weighted average discount rate	4.10%	4.00%

NET LOSS PER SHARE - Schedule of Antidilutive Awards (Details) - shares shares in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	18,663	12,029	12,589
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	685	867	1,813
Restricted stock units and Performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	13,617	10,401	10,221
Potential shares attributable to the ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	1,261	761	555
Warrants to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	3,100	0	0

FAIR VALUE MEASUREMENTS - Cash, Cash Equivalents and Investments with Hierarchy (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 111,400	$ 91,205	$ 112,531
Accumulated gross unrealized gain, before tax	59	0
Accumulated gross unrealized loss, before tax	(28)	(204)
Cash, cash equivalents and debt securities available-for-sale, amortized cost	138,926	148,434
Cash, cash equivalents and debt securities available-for-sale	138,957	148,230
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accumulated gross unrealized gain, before tax	4	0
Accumulated gross unrealized loss, before tax	(1)	(7)
Cash, cash equivalents and debt securities available-for-sale, amortized cost	106,362	87,533
Cash, cash equivalents and debt securities available-for-sale	106,365	87,526
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	32,564	60,901
Accumulated gross unrealized gain, before tax	55	0
Accumulated gross unrealized loss, before tax	(27)	(197)
Debt securities, available-for-sale	32,592	60,704
Cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	95,828	70,095
Cash and cash equivalents, fair value disclosure	95,828	70,095
Money market funds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	8,935	12,865
Cash and cash equivalents, fair value disclosure	8,935	12,865
Treasury securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	1,599	4,573
Accumulated gross unrealized gain, before tax	4
Accumulated gross unrealized loss, before tax	(1)	(7)
Debt securities, available-for-sale	1,602	4,566
Certificates of deposit \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	1,329	9,509
Cash and cash equivalents, fair value disclosure	1,329	9,509
Commercial paper \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	8,610	23,950
Accumulated gross unrealized gain, before tax	0	0
Accumulated gross unrealized loss, before tax	(2)	(34)
Debt securities, available-for-sale	8,608	23,916
Corporate debt \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	22,625	27,442
Accumulated gross unrealized gain, before tax	55	0
Accumulated gross unrealized loss, before tax	(25)	(163)
Debt securities, available-for-sale	22,655	27,279
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	111,400	91,205
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	104,763	82,960
Cash and Cash Equivalents \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	6,637	8,245
Cash and Cash Equivalents \| Cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	95,828	70,095
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	8,935	12,865
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 \| Certificates 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	6,637	7,445
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	0	800
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	1,329	9,509
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	1,329	9,509
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) \| Certificates of deposit \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	1,329	9,509
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		44,845
Cash, cash equivalents and debt securities available-for-sale	26,228
Short-Term Investments \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	1,602	4,566
Short-Term Investments \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	24,626	40,279
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	1,602	4,566
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	1,971	16,471
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	22,655	23,808
Long-Term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale		2,671
Cash, cash equivalents and debt securities available-for-sale	0
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	0	2,671
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	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	$ 0	$ 2,671

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2023	Mar. 31, 2022
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)	300,000,000	200,000,000
Common stock, shares issued (in shares)	114,659,255	117,862,807
Common stock, shares outstanding (in shares)	114,659,255	117,862,807

CONVERTIBLE SENIOR NOTES, TERM LOAN AND CAPPED CALLS - Carrying Amount (Details) - USD ($)	Mar. 31, 2023	Aug. 11, 2022	Aug. 10, 2022	Mar. 31, 2022	Feb. 28, 2019
Loans Payable \| Term Loan
Debt Instrument [Line Items]
Principal	$ 250,000,000		$ 250,000,000
Unamortized debt discount and issuance costs	(18,007,000)
Net carrying amount	231,993,000
Convertible Debt \| Convertible Notes 2028
Debt Instrument [Line Items]
Principal	201,914,000	$ 201,900,000	201,900,000
Unamortized debt discount and issuance costs	(5,093,000)
Net carrying amount	196,821,000
Convertible Debt \| Convertible Senior Notes 2024
Debt Instrument [Line Items]
Principal	63,295,000		$ 403,800,000	$ 500,000,000	$ 287,500,000
Unamortized debt discount and issuance costs	(363,000)			(52,548,000)
Net carrying amount	$ 62,932,000			$ 447,452,000

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Mar. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTSOn May 9, 2023, the Company voluntarily prepaid $25.0 million of principal and $0.2 million interest on the Term Loan, reducing total principal outstanding to $225 million. This payment had no impact on the Company's compliance with the Term Loan covenants.

LEASES - Maturity of Lease Liabilities (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 14,277
2025	13,126
2026	12,026
2027	10,712
2028	10,002
Thereafter	28,659
Total lease payments	88,802
Less: imputed interest	(11,675)
Present value of lease liabilities	$ 77,127

REVENUE RECOGNITION

12 Months Ended

Mar. 31, 2023

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, 2023		March 31, 2022
Accounts receivable, net	$	62,307	$	57,400
Contract assets, current	11,581		10,514
Contract assets, non-current	11,141		15,171
Deferred revenue, current	34,909		34,262
Deferred revenue, non-current	10,615		11,430

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, 2023, the Company recognized revenue of approximately $33.7 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, 2023 was approximately $775.0 million. This amount excludes contracts with an original expected length of less than one year. The Company expects to recognize revenue on approximately 85% of the remaining performance obligations over the next 24 months and approximately 15% over the remainder of the subscription period. For purposes of this disclosure, the Company excludes contracts with an original expected length of less than one year.

Deferred Sales Commission Costs

Amortization of deferred sales commission costs for the years ended March 31, 2023, 2022, and 2021 was $38.2 million, $34.7 million, and $27.8 million, respectively. There were no material write-offs during the years ended March 31, 2023, 2022, and 2021.

- 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 https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126920106&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)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Subparagraph (d)
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

INCOME TAXES - Narrative (Details) - USD ($)	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($)	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Income Tax Contingency [Line Items]
Provision for (benefit from) income taxes	$ 2,807,000	$ (387,000)	$ 843,000
Deferred tax benefit	0	1,253,000	0
Undistributed earnings (losses) of foreign subsidiaries	2,700,000	12,900,000	15,300,000
Deferred tax assets, valuation allowance	360,274,000	349,093,000
Operating loss carryforwards	1,199,100,000
Operating loss carryforwards, subject to expiration	361,000,000
Operating loss carryforward, indefinitely	838,100,000
Unrecognized tax benefits	10,113,000	9,850,000	7,053,000	$ 6,115,000
Accrued penalties and interest	100,000	200,000	$ 0
Domestic Tax Authority
Income Tax Contingency [Line Items]
Research tax credit carryforwards	18,500,000
State and Local Jurisdiction
Income Tax Contingency [Line Items]
Operating loss carryforwards	978,700,000
Research tax credit carryforwards	$ 21,800,000
Fuze
Income Tax Contingency [Line Items]
Deferred tax benefit		$ 1,200,000

GEOGRAPHICAL INFORMATION

12 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

GEOGRAPHICAL INFORMATION

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


	Revenue for the Years Ended March 31,
	2023		2022		2021
United States	$	536,678	$	443,118	$	390,758
International	207,260		195,012		141,586
Total revenue	$	743,938	$	638,130	$	532,344


	Property and Equipment as of March 31,
	2023		2022
United States	$	54,191	$	73,967
International	3,680		5,049
Total property and equipment, net	$	57,871	$	79,016

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/topic&trid=2134510

+ Details

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY - Performance Stock Units Information (Details) - Performance Stock Units - $ / shares	12 Months Ended
	Mar. 31, 2023	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)	$ 7.05	$ 30.98	$ 29.07
Volatility factors ranging ,minimum	51.96%	58.65%	55.66%
Volatility factors ranging ,maximum	69.30%	59.67%	60.68%
Risk-free interest rate, minimum	3.15%	0.34%	0.15%
Risk-free interest rate, maximum	4.42%	0.40%	0.18%

SUBSEQUENT EVENTS (Details) - Term Loan - Loans Payable - USD ($) $ in Thousands	May 09, 2023	Mar. 31, 2023
Line of Credit Facility [Line Items]
Long-term debt		$ 231,993
Subsequent Event
Line of Credit Facility [Line Items]
Repayments of debt	$ 25,000
Interest paid	200
Long-term debt	$ 225,000

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

INTANGIBLE ASSETS AND GOODWILL

12 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS AND GOODWILL

The carrying value of intangible assets consisted of the following:


	March 31, 2023						March 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Technology	$	46,461	$	(28,361)	$	18,100	$	46,727	$	(19,852)	$	26,875
Customer relationships	105,836		(16,824)		89,012		105,827		(4,889)		100,938
Trade names and domains	584		(584)		—		583		(183)		400

Total acquired identifiable intangible assets	$	152,881	$	(45,769)	$	107,112	$	153,137	$	(24,924)	$	128,213

As of March 31, 2023, the weighted average remaining useful life for technology and customer relationships was 2.3 years and 7.7 years, respectively, and trade names and domains are fully amortized.

Amortization expense for related intangible assets was $21.1 million, $8.3 million, and $6.9 million for the years ended March 31, 2023, 2022, and 2021, 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 write-offs during the year ended March 31, 2023. In November 2022, the Company sold certain intangible assets with net book value of less than $0.3 million for $1.8 million. The gain of approximately $1.8 million was recorded as Other income in the Statement of Operations and includes $0.3 million to be received as future services.

At March 31, 2023, annual amortization of intangible assets, based upon existing intangible assets and current useful lives, is estimated to be the following:


	Amount
2024	$	20,395
2025	19,095
2026	13,895
2027	11,757
2028 and thereafter	41,970
Total	$	107,112

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


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

Foreign currency translation	(4)
Balance at March 31, 2023	$	266,863

The Company conducted its annual impairment tests of goodwill in the fourth quarter of fiscal 2023, 2022, and 2021, and determined that no adjustment to the carrying value of goodwill was required.

SUPPLEMENTAL FINANCIAL INFORMATION - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Property, Plant and Equipment [Line Items]
Gross	$ 226,164	$ 196,710
Less: accumulated depreciation and amortization	(168,293)	(117,694)
Total property and equipment, net	57,871	79,016
Computer equipment
Property, Plant and Equipment [Line Items]
Gross	56,106	46,037
Software development costs
Property, Plant and Equipment [Line Items]
Gross	109,590	103,190
Software licenses
Property, Plant and Equipment [Line Items]
Gross	10,175	8,103
Leasehold improvements
Property, Plant and Equipment [Line Items]
Gross	33,269	29,064
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Gross	11,994	5,013
Construction in progress
Property, Plant and Equipment [Line Items]
Gross	$ 5,030	$ 5,303

GEOGRAPHICAL INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
GEOGRAPHICAL INFORMATION (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Revenue	$ 743,938	$ 638,130	$ 532,344
Property and equipment, net	57,871	79,016
United States
Segment Reporting Information [Line Items]
Revenue	536,678	443,118	390,758
Property and equipment, net	54,191	73,967
International
Segment Reporting Information [Line Items]
Revenue	207,260	195,012	$ 141,586
Property and equipment, net	$ 3,680	$ 5,049

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
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+ Details

NET LOSS PER SHARE (Tables)

12 Months Ended

Mar. 31, 2023

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,
	2023		2022		2021
Net loss	$	(73,143)	$	(175,383)	$	(165,585)
Weighted average common shares outstanding - basic and diluted (in thousands)	115,959		113,354		105,700

Net loss per share - basic and diluted	$	(0.63)	$	(1.55)	$	(1.57)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share


	For the years ended March 31,
	2023	2022	2021
Stock options	685	867	1,813
Restricted stock units and Performance stock units	13,617	10,401	10,221
Potential shares attributable to the ESPP	1,261	761	555
Warrants to purchase common stock	3,100	—	—
Total anti-dilutive shares	18,663	12,029	12,589

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-in Capital	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, 2020			103,178,621
Beginning 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
Stock-based compensation expense	108,417			108,417
Forfeiture of common stock related to acquisition (in shares)			(111,554)
Forfeiture of common stock related to Wavecell acquisition	8,489			8,489
Issuance of common stock related to Fuze acquisition	0
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)
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2020-06
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
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
Forfeiture of common stock related to acquisition (in shares)			(25,536)
Forfeiture of common stock related to Wavecell acquisition	0
Issuance of common stock related to acquisition (in shares)			4,070,355
Issuance of common stock related to Fuze acquisition	80,856		$ 4	80,852
Share repurchase (in shares)			(2,340,058)
Share repurchases	(44,976)		$ (2)	(44,974)
Equity component of convertible senior notes, net of issuance cost	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 (in shares) at Mar. 31, 2022	117,862,807		117,862,807
Ending balance at Mar. 31, 2022	$ 182,366	$ (46,160)	$ 118	956,599	$ (92,832)	(7,913)	(766,438)	$ 46,672
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock plans, less withholding (in shares)			6,498,922
Issuance of common stock under stock plans, less withholding	4,685		$ 7	4,678
Stock-based compensation expense	92,065			92,065
Forfeiture of common stock related to acquisition (in shares)			(22,311)
Forfeiture of common stock related to Wavecell acquisition	0
Issuance of common stock related to Fuze acquisition	0
Repurchase of capped calls	244			244
Share repurchase (in shares)			(10,695,187)
Share repurchases	(60,214)		$ (11)	(60,203)
Shares issued for debt issuance (in shares)			1,015,024
Shares issued for debt issuance	5,085		$ 1	5,084
Dissolution of investment in foreign subsidiary	(8)						(8)
Unrealized investment loss/gain	(184)					(184)
Foreign currency translation adjustment	(4,830)					(4,830)
Net loss	$ (73,143)						(73,143)
Ending balance (in shares) at Mar. 31, 2023	114,659,255		114,659,255
Ending balance at Mar. 31, 2023	$ 99,906		$ 115	$ 905,635		$ (12,927)	$ (792,917)

INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of the consolidated provision for income taxes for fiscal 2023, 2022, and 2021 consisted of the following:


	March 31,
Current:	2023		2022		2021
Federal	$	423	$	—	$	—
State	1,331		145		31
Foreign	1,053		721		812
Total current tax provision	2,807		866		843
Deferred
Federal	—		(984)		—
State	—		(269)		—
Foreign	—		—		—
Total deferred tax provision	—		(1,253)		—
Income tax provision (benefit)	$	2,807	$	(387)	$	843

Schedule of Deferred Tax Assets and Liabilities

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


	March 31,
	2023		2022
Deferred tax assets
Net operating loss carryforwards	$	317,035	$	350,242
Research and development and other credit carryforwards	29,237		26,127
Stock-based compensation	9,257		14,877
Reserves and allowances	16,050		23,880
Lease liability	18,236		20,614
Capitalized IRC 174 costs	31,207		—
Fixed assets and intangibles	5,728		836
Gross deferred tax assets	426,750		436,576
Valuation allowance	(360,274)		(349,093)
Total deferred tax assets	$	66,476	$	87,483
Deferred tax liabilities
Intangibles	(23,781)		(28,529)
Deferred sales commissions	(30,607)		(32,857)
Convertible debt	—		(12,066)
Lease asset	(12,202)		(14,145)
Net deferred taxes	$	(114)	$	(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,
	2023		2022		2021
Tax benefit at statutory rate	$	(15,075)	$	(36,909)	$	(34,492)
State income taxes before valuation allowance, net of federal effect	(3,088)		(7,754)		(7,445)
Foreign tax rate differential	492		(2,056)		(2,206)
Research and development credits	(2,513)		(3,362)		(4,078)
Change in valuation allowance	(1,708)		49,620		47,225
Compensation/option differences	16,858		(6,788)		(5,045)
Non-deductible compensation	4,397		7,606		6,194
Other	3,444		(744)		690
Total income tax provision (benefit)	$	2,807	$	(387)	$	843

Schedule of Unrecognized Tax Benefits Roll Forward

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


	Years ended March 31,
	2023		2022		2021
Balance at beginning of year	$	9,850	$	7,053	$	6,115
Gross increases - tax position in prior period	163		1,918		—
Gross increases - tax position related to the current year	158		951		1,140
Settlements	—		(63)		—
Lapse of statute of limitations	(34)		(19)		(202)
Currency	(24)		10		—
Balance at end of year	$	10,113	$	9,850	$	7,053

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Deferred tax assets
Net operating loss carryforwards	$ 317,035	$ 350,242
Research and development and other credit carryforwards	29,237	26,127
Stock-based compensation	9,257	14,877
Reserves and allowances	16,050	23,880
Lease liability	18,236	20,614
Capitalized IRC 174 costs	31,207	0
Fixed assets and intangibles	5,728	836
Gross deferred tax assets	426,750	436,576
Valuation allowance	(360,274)	(349,093)
Total deferred tax assets	66,476	87,483
Deferred tax liabilities
Intangibles	(23,781)	(28,529)
Deferred sales commissions	(30,607)	(32,857)
Convertible debt	0	(12,066)
Lease asset	(12,202)	(14,145)
Net deferred taxes	$ (114)	$ (114)

ACQUISITIONS	12 Months Ended
ACQUISITIONS	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	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, comprised 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 (based on $15.48 closing price of the Company's stock on January 18, 2022), of which approximately $1.3 million in cash and up to 1,153,523 shares were held back in accordance with the merger agreement, and 346,053 shares were held back (pursuant to indemnity obligations) and reserved for later issuance. Subsequently, in May 2022, approximately $1.3 million in cash that was held back, was released as part of the working capital adjustment, and in April 2023, approximately 1,038,171 shares that were held back as part of the transaction indemnity holdback were released. The results of Fuze's operations have been included in the Company's consolidated financial statements in fiscal 2023 and in fiscal 2022 since the acquisition.

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net loss	$ (73,143)	$ (175,383)	$ (165,585)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	10,464	11,374	11,297
Amortization of intangible assets	21,078	8,317	6,886
Amortization of capitalized internal-use software costs	20,739	28,863	26,934
Impairment of capitalized software	3,729
Amortization of debt discount and issuance costs	4,254	20,404	16,898
Amortization of deferred sales commission costs	38,195	34,701	27,817
Allowance for credit losses	1,892	1,974	4,471
Operating lease expense, net of accretion	12,030	13,482	15,210
Stock-based compensation expense	89,536	133,331	107,638
Gain on debt extinguishment	(18,545)	0	0
Gain on remeasurement of warrants	(417)	0	0
Impairment of right-of-use assets	2,651	0	0
Gain on sale of assets	(1,821)	0	0
Other	101	3,726	1,521
Changes in assets and liabilities:
Accounts receivable	(8,450)	6,867	(14,869)
Deferred sales commission costs	(31,086)	(44,224)	(52,960)
Other current and non-current assets	2,150	(4,022)	(3,963)
Accounts payable and accruals	(24,403)	(8,740)	(10,033)
Deferred revenue	(168)	4,010	14,672
Net cash provided by (used in) operating activities	48,786	34,680	(14,066)
Cash flows from investing activities:
Purchases of property and equipment	(2,991)	(4,137)	(6,430)
Proceeds from sale of intangible assets	1,000	0
Capitalized internal-use software costs	(11,896)	(20,370)	(28,816)
Purchases of investments	(53,308)	(83,383)	(52,172)
Sales of investments	8,296	13,299	1,018
Proceeds from maturities of investments	66,199	60,023	60,479
Acquisition of businesses, net of cash acquired	(1,250)	(125,410)	(10,400)
Net cash provided by (used in) investing activities	6,050	(159,978)	(36,321)
Cash flows from financing activities:
Finance lease payments	0	(15)	(78)
Tax-related withholding of common stock	0	(310)	(69)
Proceeds from issuance of common stock under employee stock plans	4,679	16,107	13,339
Repurchase of capped calls	244	0	0
Repurchase of common stock	(60,214)	(44,976)	0
Repayment of convertible senior notes	(217,299)	0	0
Proceeds from issuance of convertible notes	0	134,619	0
Net proceeds from term loan	234,806	0	0
Net cash (used in) provided by financing activities	(37,784)	105,425	13,192
Effect of exchange rate changes on cash	(5,037)	(585)	1,956
Net decrease in cash, cash equivalents and restricted cash	12,015	(20,458)	(35,239)
Cash, cash equivalents and restricted cash, beginning of year	100,714	121,172	156,411
Cash, cash equivalents and restricted cash, end of year	112,729	100,714	121,172
Supplemental and non-cash disclosures:
Right-of-use assets obtained in exchange for new and modified operating lease liabilities	0	0	0
Right-of-use assets acquired in connection with Fuze acquisition	0	7,261	0
Shares consideration in connection with Fuze acquisition	0	80,856	0
Payables for fixed assets	38	88	0
Issuance of 2028 convertible senior notes in exchange of 2024 convertible senior notes	201,914	0	0
Warrants issued in connection with term loan	5,915	0	0
Shares issued in connection with term loan and convertible senior notes	5,084	0	0
Interest paid	22,162	2,156	1,813
Income taxes paid	1,530	1,320	555
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:
Cash and cash equivalents	111,400	91,205	112,531
Restricted cash, current	511	8,691	8,179
Restricted cash, non-current	818	818	462
Total cash, cash equivalents and restricted cash	$ 112,729	$ 100,714	$ 121,172

CONVERTIBLE SENIOR NOTES, TERM LOAN AND CAPPED CALLS - Term Loan and Warrants (Details) - USD ($) $ / shares in Units, shares in Millions		12 Months Ended
	Aug. 10, 2022	Mar. 31, 2023	Mar. 31, 2022	Aug. 11, 2022	Feb. 28, 2019
Debt Instrument [Line Items]
Shares repurchase		$ 60,214,000	$ 44,976,000
Fair value of the warrants at issuance		5,497,000
Common Stock
Debt Instrument [Line Items]
Shares repurchase		11,000	2,000
Term Loan \| Loans Payable
Debt Instrument [Line Items]
Debt instrument, face value	$ 250,000,000	250,000,000
Unamortized debt discount and issuance costs		18,007,000
Debt discount and issuance costs paid in common stock	$ 2,800,000
Debt instrument, effective interest rate	11.00%
Term Loan \| Common Stock \| Loans Payable
Debt Instrument [Line Items]
Shares repurchase	$ 60,000,000
Term Loan \| SOFR \| Loans Payable
Debt Instrument [Line Items]
Debt instrument, basis spread on variable floor rate	1.00%
Debt instrument, credit spread adjustment	0.10%
Debt instrument, basis spread on variable rate	6.50%
Credit Agreement \| Loans Payable
Debt Instrument [Line Items]
Unamortized debt discount and issuance costs	$ 20,000,000
Warrant of shares (in shares)	3.1
Expected term	5 years
Exercise price of warrants (in dollars per share)	$ 7.15
Fair value of the warrants at issuance	$ 5,900,000
Credit Agreement \| Common Stock \| Loans Payable
Debt Instrument [Line Items]
Percentage of premium over closing price	27.50%
Convertible Senior Notes 2024 \| Convertible Debt
Debt Instrument [Line Items]
Debt instrument, face value	$ 403,800,000	63,295,000	500,000,000		$ 287,500,000
Unamortized debt discount and issuance costs		363,000	$ 52,548,000
Debt instrument, effective interest rate				1.20%
Convertible Notes 2028 \| Convertible Debt
Debt Instrument [Line Items]
Debt instrument, face value	$ 201,900,000	201,914,000		$ 201,900,000
Unamortized debt discount and issuance costs		$ 5,093,000
Debt instrument, effective interest rate				4.70%

LEASES - Operating Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Operating lease expense	$ 12,030	$ 13,482	$ 15,210
Variable lease expense	6,378	3,837	2,462
Cash outflows from operating leases	$ 18,985	$ 17,310	$ 9,878

INCOME TAXES

12 Months Ended

Mar. 31, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXESFor the years ended March 31, 2023, 2022, and 2021, the Company recorded a provision (benefit) for income taxes of $2.8 million, $0.4 million, and $0.8 million, respectively. The components of the consolidated provision for income taxes for fiscal 2023, 2022, and 2021 consisted of the following:


	March 31,
Current:	2023		2022		2021
Federal	$	423	$	—	$	—
State	1,331		145		31
Foreign	1,053		721		812
Total current tax provision	2,807		866		843
Deferred
Federal	—		(984)		—
State	—		(269)		—
Foreign	—		—		—
Total deferred tax provision	—		(1,253)		—
Income tax provision (benefit)	$	2,807	$	(387)	$	843

The Company's loss from continuing operations before income taxes included $2.7 million, $12.9 million, and $15.3 million of foreign subsidiary income for the years ended March 31, 2023, 2022, and 2021, respectively. The Company is permanently reinvesting the earnings of its profitable foreign subsidiaries to facilitate expansion of overseas operations. If the Company were to remit these earnings, the tax impact would be immaterial.

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.

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


	March 31,
	2023		2022
Deferred tax assets
Net operating loss carryforwards	$	317,035	$	350,242
Research and development and other credit carryforwards	29,237		26,127
Stock-based compensation	9,257		14,877
Reserves and allowances	16,050		23,880
Lease liability	18,236		20,614
Capitalized IRC 174 costs	31,207		—
Fixed assets and intangibles	5,728		836
Gross deferred tax assets	426,750		436,576
Valuation allowance	(360,274)		(349,093)
Total deferred tax assets	$	66,476	$	87,483
Deferred tax liabilities
Intangibles	(23,781)		(28,529)
Deferred sales commissions	(30,607)		(32,857)
Convertible debt	—		(12,066)
Lease asset	(12,202)		(14,145)
Net deferred taxes	$	(114)	$	(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, 2023, 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, 2023, management determined that a valuation allowance of approximately $360.3 million was needed, compared with approximately $349.1 million as of March 31, 2022.

At March 31, 2023, the Company had federal net operating loss carryforwards of approximately $1,199.1 million, of which $361.0 million are related to years prior to fiscal 2019 and begin to expire in 2023. The remaining $838.1 million carry forward indefinitely but can only be used to apply to 80% of the Company’s taxable income for a given tax year. As of March 31, 2023, the Company has state net operating loss carry-forwards of $978.7 million, the majority of which expire at various dates between 2024 and 2043. In addition, at March 31, 2023, the Company had research and development credit carryforwards for federal and California

tax reporting purposes of approximately $18.5 million and $21.8 million, respectively. The federal income tax credit carryforwards will expire at various dates between 2024 and 2043, 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,
	2023		2022		2021
Tax benefit at statutory rate	$	(15,075)	$	(36,909)	$	(34,492)
State income taxes before valuation allowance, net of federal effect	(3,088)		(7,754)		(7,445)
Foreign tax rate differential	492		(2,056)		(2,206)
Research and development credits	(2,513)		(3,362)		(4,078)
Change in valuation allowance	(1,708)		49,620		47,225
Compensation/option differences	16,858		(6,788)		(5,045)
Non-deductible compensation	4,397		7,606		6,194
Other	3,444		(744)		690
Total income tax provision (benefit)	$	2,807	$	(387)	$	843

For the years ended March 31, 2023, 2022, and 2021, the statutory federal rate was 21%.

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:


	Years ended March 31,
	2023		2022		2021
Balance at beginning of year	$	9,850	$	7,053	$	6,115
Gross increases - tax position in prior period	163		1,918		—
Gross increases - tax position related to the current year	158		951		1,140
Settlements	—		(63)		—
Lapse of statute of limitations	(34)		(19)		(202)
Currency	(24)		10		—
Balance at end of year	$	10,113	$	9,850	$	7,053

At March 31, 2023, the Company had unrecognized tax benefits of $10.1 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, 2023 and 2022, the Company recognized $0.1 million and $0.2 million, respectively, in penalty and interest related to unrecognized tax benefits. The Company did not recognize any interest or penalties related to unrecognized tax benefits for the year ended March 31, 2021.

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 as well as with respect to the net operating loss and tax credit carryforwards inherited as part of the Fuze acquisition. The Company currently expects the Section 382 limitation to apply with respect to the Fuze carryforwards and limit the Company’s ability to fully utilize the Fuze net operating loss carryforwards, prior to their expiration.

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 2003 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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THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) $ in Thousands			12 Months Ended
	Jan. 01, 2005	Dec. 31, 2004	Mar. 31, 2023 USD ($) reportingUnit segment	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Capitalized contract cost, amortization period			5 years
Advertising expense			$ 1,500	$ 3,400	$ 9,000
Number of reporting units \| reportingUnit			1
Number of reportable segments \| segment			1
Accumulated deficit			$ (792,917)	(766,438)
Additional paid-in capital			$ (905,635)	(956,599)
Cumulative Effect, Period of Adoption, Adjustment
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accumulated deficit				46,700
Additional paid-in capital				92,800
Senior notes				$ 46,200
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			8 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
Convertible Debt \| Convertible Senior Notes Due 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Debt instrument, interest rate			0.50%
Convertible Debt \| Convertible Senior Notes Due 2028
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Debt instrument, interest rate			4.00%
Computer Software, Intangible Asset \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Finite-lived intangible asset, useful life			3 years
Computer Software, Intangible Asset \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Finite-lived intangible asset, useful life			4 years

NET LOSS PER SHARE - Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Net loss	$ (73,143)	$ (175,383)	$ (165,585)
Weighted average common shares outstanding - basic (in shares)	115,959	113,354	105,700
Weighted average common shares outstanding - diluted (in shares)	115,959	113,354	105,700
Net loss per share:
Basic (in dollars per share)	$ (0.63)	$ (1.55)	$ (1.57)
Diluted (in dollars per share)	$ (0.63)	$ (1.55)	$ (1.57)

- 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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- Definition

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

+ References

+ Details

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
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 2023 refers to the fiscal year ended March 31, 2023). 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 all equity interests in 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 revenue 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; revenue 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, which 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 eight 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, 2023 and 2022.
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 between three and four 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 information technology ("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 the 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 and the 4% Convertible Senior Notes due 2028 (collectively, the "Notes"), the Company recorded the Notes as liabilities, as the conversion features do not require bifurcation and recognition as embedded derivatives. The excess of the principal amount of the liability over its carrying amount (“debt discount”) is amortized to interest expense over the term of the Notes. The Company recorded the issuance costs as a reduction to the liability portion of the Notes, which are amortized as interest expense over the term of the Notes.
Warrant Liabilities	Warrants to purchase shares of the Company's common stock are classified as a liability on the consolidated balance sheets and held at fair value, as the warrants contain certain terms that could result in cash settlement as a result of events outside of the Company’s control. The warrants are subject to remeasurement to fair value at each balance sheet date, and any change in fair value is recognized in the consolidated statements of operations. The Company will continue to adjust the liability for changes in fair value until the earlier of the exercise or expiration of the warrants.
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. 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. Although the Company deposits its cash with multiple financial institutions, its deposits may exceed federally insured limits. 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 March 31, 2023 and 2022, no customer accounted for more than 10% of accounts receivable. For the years ended March 31, 2023, 2022, and 2021, no customer accounted for more than 10% of revenue. 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 the Notes and the Term Loan (as defined in Note 7, Convertible Senior Notes, Term loan and Capped Calls) are recorded at net carrying value.
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 look-back 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 March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting ("ASU 2020-04"), and 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. Effective April 1, 2022, the Company adopted ASU 2020-04 on a prospective basis. The impact of the adoption was immaterial to the Company's consolidated financial statements. In August 2020, the FASB issued 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): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. Effective April 1, 2022, the Company adopted ASU 2020-06 using a modified retrospective approach. Adoption of the new standard resulted in a decrease to accumulated deficit of $46.7 million, a decrease to additional paid-in capital of $92.8 million, and an increase to convertible senior notes, net of $46.2 million. RECENT ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED Other recent accounting pronouncements that may be applicable to the Company are not expected to have a material impact on its present or future 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.

INTANGIBLE ASSETS AND GOODWILL- Schedule Of Intangibles (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 152,881	$ 153,137
Accumulated Amortization	(45,769)	(24,924)
Net Carrying Amount	107,112	128,213
Technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	46,461	46,727
Accumulated Amortization	(28,361)	(19,852)
Net Carrying Amount	18,100	26,875
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	105,836	105,827
Accumulated Amortization	(16,824)	(4,889)
Net Carrying Amount	89,012	100,938
Trade names and domains
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	584	583
Accumulated Amortization	(584)	(183)
Net Carrying Amount	$ 0	$ 400