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THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES - Schedule of Property, Plant and Equipment (Details)	Mar. 31, 2024
Computer equipment
Property, Plant and Equipment [Line Items]
Useful Lives	3 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Useful Lives	5 years
Capitalized internal-use software \| Minimum
Property, Plant and Equipment [Line Items]
Useful Lives	3 years
Capitalized internal-use software \| Maximum
Property, Plant and Equipment [Line Items]
Useful Lives	7 years

INTANGIBLE ASSETS AND GOODWILL - Narrative (Details) - USD ($)	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 20,395,000	$ 21,078,000	$ 8,317,000
Fully amortized intangible asset written off	0	0	13,200,000
Book value of assets sold	300,000
Intangible assets, sale price	1,800,000
Gain on sale of assets	(179,000)	$ 1,821,000	$ 0
Gain (loss) on disposition of intangible assets, amount to be received as future services	$ 300,000
Developed technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, remaining amortization period	1 year 6 months
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, remaining amortization period	6 years 8 months 12 days

INTANGIBLE ASSETS AND GOODWILL (Tables)

12 Months Ended

Mar. 31, 2024

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, 2024						March 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Developed technology	$	46,454	$	(36,823)	$	9,631	$	46,461	$	(28,361)	$	18,100
Customer relationships	105,827		(28,741)		77,086		105,836		(16,824)		89,012
Trade names and domains	584		(584)		—		584		(584)		—
Total acquired identifiable intangible assets	$	152,865	$	(66,148)	$	86,717	$	152,881	$	(45,769)	$	107,112

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

At March 31, 2024, annual amortization of intangible assets, based upon existing intangible assets and current useful lives, is estimated to be the following (in thousands):


	Amount
2025	$	19,095
2026	13,896
2027	11,757
2028	11,044
2029 and thereafter	30,925
Total	$	86,717

Schedule of Goodwill

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


	Amount
Balance at March 31, 2022	$	266,867
Foreign currency translation	(4)
Balance at March 31, 2023	266,863
Foreign currency translation	(289)
Balance at March 31, 2024	$	266,574

- Definition

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

+ References

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

FINANCIAL STATEMENT COMPONENTS - Schedule of Accrued and Other Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Accrued compensation	$ 19,550	$ 29,614
Accrued taxes	44,096	29,570
Other accrued liabilities	14,456	14,556
Total accrued and other liabilities	$ 78,102	$ 73,740

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value Measurements

Cash, cash equivalents, and available-for-sale investments were as follows (in thousands):


As of March 31, 2024	Amortized Costs		Gross Unrealized Gain		Gross Unrealized Loss		Estimated Fair Value		Cash and Cash Equivalents		Restricted Cash (Current & Non-current)		Short-Term Investments
Cash	$	53,943	$	—	$	—	$	53,943	$	53,943	$	—	$	—
Level 1:
Money market funds	37,633		—		—		37,633		37,172		461		—
Subtotal	91,576		—		—		91,576		91,115		461		—
Level 2:
Term deposit	25,147		—		—		25,147		25,147		—		—
Commercial paper	1,049		—		(1)		1,048		—		—		1,048
Subtotal	26,196		—		(1)		26,195		25,147		—		1,048
Total assets	$	117,772	$	—	$	(1)	$	117,771	$	116,262	$	461	$	1,048


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
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:
Certificate 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

Summary of Assumptions Used in Determination of Fair Value

The following table presents additional information about valuation techniques and inputs used for the Warrants (see Note 8, Convertible Senior Notes and Term Loan) that are measured at fair value and categorized within Level 3 as of March 31, 2024 and March 31, 2023 (dollars in thousands):


	March 31, 2024			March 31, 2023
Estimated fair value of detachable warrants	$	3,321		$	5,497
Unobservable inputs:
Stock volatility	87.2		%	67.2		%
Risk-free rate	4.3		%	3.6		%
Expected term	3.4 years			4.4 years

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Adjustment	Common Stock	Additional Paid-in Capital	Additional Paid-in Capital Adjustment	Accumulated Other Comprehensive Loss	Accumulated Deficit	Accumulated Deficit Adjustment
Beginning balance (in shares) at Mar. 31, 2021			109,134,739
Beginning balance at Mar. 31, 2021	$ 160,504		$ 109	$ 755,643		$ (4,193)	$ (591,055)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2020-06 [Member]
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 Wavecell acquisition (in shares)			(25,536)
Forfeiture of common stock related to Wavecell acquisition	0
Issuance of common stock related to Fuze acquisition (in shares)			4,070,355
Issuance of common stock related to Fuze acquisition	80,856		$ 4	80,852
Share repurchases (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
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 Wavecell acquisition (in shares)			(22,311)
Forfeiture of common stock related to Wavecell acquisition	0
Repurchase of capped calls	244			244
Share repurchases (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)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock plans, less withholding (in shares)			7,612,910
Issuance of common stock under stock plans, less withholding	0		$ 7	(7)
ESPP issuance (in shares)			1,883,318
ESPP issuance	4,884		$ 2	4,882
Stock-based compensation expense	63,386			63,386
Issuance of common stock under stock plans, less withholding, related to Fuze acquisition (in shares)			1,038,090
Issuance of common stock under stock plans, less withholding, related to Fuze acquisition	0		$ 1	(1)
Unrealized investment loss/gain	280					280
Foreign currency translation adjustment	1,094					1,094
Net loss	$ (67,592)						(67,592)
Ending balance (in shares) at Mar. 31, 2024	125,193,573		125,193,573
Ending balance at Mar. 31, 2024	$ 101,958		$ 125	$ 973,895		$ (11,553)	$ (860,509)

REVENUE RECOGNITION - Narrative (Details) - USD ($)	12 Months Ended
REVENUE RECOGNITION - Narrative (Details) - USD ($)	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Contract with customer, liability, revenue recognized	$ 38,700,000
Capitalized contract cost, amortization	40,200,000	$ 38,200,000	$ 34,700,000
Capitalized contract cost, impairment loss	$ 0	$ 0	$ 0

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net loss	$ (67,592)	$ (73,143)	$ (175,383)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation	8,301	10,464	11,374
Amortization of intangible assets	20,395	21,078	8,317
Amortization of capitalized internal-use software costs	18,486	20,739	28,863
Impairment of capitalized software	0	3,729	0
Amortization of debt discount and issuance costs	4,472	4,254	20,404
Amortization of deferred sales commission costs	40,181	38,195	34,701
Allowance for credit losses	2,236	1,892	1,974
Operating lease expense, net of accretion	10,934	12,030	13,482
Impairment of right-of-use assets	11,034	2,651	0
Stock-based compensation expense	61,910	89,536	133,331
(Gain) loss on debt extinguishment	1,766	(18,545)	0
Gain on remeasurement of warrants	(2,176)	(417)	0
(Gain) loss on sale of assets	179	(1,821)	0
Other	680	101	3,726
Changes in assets and liabilities:
Accounts receivable, net	753	(8,450)	6,867
Deferred sales commission costs	(22,879)	(31,086)	(44,224)
Other current and non-current assets	(2,348)	2,150	(4,022)
Accounts payable and accruals	(4,182)	(24,403)	(8,740)
Deferred revenue	(3,165)	(168)	4,010
Net cash provided by operating activities	78,985	48,786	34,680
Cash flows from investing activities:
Purchases of property and equipment	(2,650)	(2,991)	(4,137)
Proceeds from sale of intangible assets	0	1,000	0
Capitalized internal-use software costs	(14,289)	(11,896)	(20,370)
Purchases of investments	(6,174)	(53,308)	(83,383)
Sales of investments	0	8,296	13,299
Maturities of investments	31,659	66,199	60,023
Acquisition of businesses, net of cash acquired	0	(1,250)	(125,410)
Net cash provided by (used in) investing activities	8,546	6,050	(159,978)
Cash flows from financing activities:
Finance lease payments	0	0	(15)
Tax-related withholding of common stock	0	0	(310)
Proceeds from issuance of common stock under employee stock plans	4,884	4,679	16,107
Repurchase of capped calls	0	244	0
Repayment of principal on term loan	(25,000)	0	0
Net proceeds from term loan	0	234,806	0
Repayment of convertible senior notes	(63,295)	(217,299)	0
Proceeds from issuance of convertible senior notes	0	0	134,619
Repurchase of common stock	0	(60,214)	(44,976)
Net cash provided by (used in) financing activities	(83,411)	(37,784)	105,425
Effect of exchange rate changes on cash	(126)	(5,037)	(585)
Net increase (decrease) in cash and cash equivalents	3,994	12,015	(20,458)
Cash, cash equivalents and restricted cash, beginning of year	112,729	100,714	121,172
Cash, cash equivalents and restricted cash, end of year	116,723	112,729	100,714
Supplemental and non-cash disclosures:
Interest paid	35,574	22,162	2,156
Income taxes paid	5,974	1,530	1,320
Payables and accruals for property and equipment	3,868	38	88
Warrants issued in connection with term loan	0	5,915	0
Shares issued in connection with term loan and convertible senior notes	0	5,084	0
Issuance of 2028 convertible senior notes in exchange of 2024 convertible senior notes	0	201,914	0
Right-of-use assets acquired in connection with Fuze acquisition	0	0	7,261
Shares consideration in connection with Fuze acquisition	0	0	80,856
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:
Cash and cash equivalents	116,262	111,400	91,205
Restricted cash, current	356	511	8,691
Restricted cash, non-current	105	818	818
Total cash, cash equivalents and restricted cash	$ 116,723	$ 112,729	$ 100,714

INCOME TAXES - Income Tax Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Current:
Federal	$ 714	$ 423	$ 0
State	2,384	1,331	145
Foreign	544	1,053	721
Total current tax provision	3,642	2,807	866
Deferred
Federal	0	0	(984)
State	0	0	(269)
Total deferred tax provision	0	0	(1,253)
Total income tax provision (benefit)	$ 3,642	$ 2,807	$ (387)

CONVERTIBLE SENIOR NOTES AND TERM LOAN - 2024 Notes (Details) - USD ($)	Mar. 31, 2024	Mar. 31, 2023	Feb. 23, 2023	Dec. 09, 2022	Sep. 28, 2022	Aug. 31, 2022
Convertible Senior Notes 2024
Debt Instrument [Line Items]
Remaining aggregate principal amount		$ 63,300,000
Convertible Senior Notes 2024 \| Convertible Debt
Debt Instrument [Line Items]
Debt instrument, interest rate		0.50%
Debt instrument, face value	$ 0	$ 63,295,000				$ 403,800,000
Debt instrument repurchased face amount		$ 32,900,000	$ 5,000,000	$ 21,800,000	$ 6,000,000
Convertible Senior Notes 2028 \| Convertible Debt
Debt Instrument [Line Items]
Debt instrument, face value						201,900,000
Debt instrument repurchased face amount						$ 60,000,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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-Topic 470
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+ Details

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Deferred tax assets:
Net operating loss carryforwards	$ 296,036	$ 317,035
Research and development and other credit carryforwards	28,118	29,237
Stock-based compensation	7,540	9,257
Reserves and allowances	17,463	16,050
Operating lease liability	15,456	18,236
Capitalized IRC 174 costs	51,317	31,207
Fixed assets and intangibles	6,435	5,728
Gross deferred tax assets	422,365	426,750
Valuation allowance	(368,408)	(360,274)
Total deferred tax assets	53,957	66,476
Deferred tax liabilities:
Intangibles	(19,045)	(23,781)
Deferred sales commissions	(26,303)	(30,607)
Operating lease, right-of-use asset	(8,724)	(12,202)
Net deferred taxes	$ (115)	$ (114)

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Mar. 31, 2024

Accounting Policies [Abstract]

Basis of Presentation and Consolidation

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 2024 refers to the fiscal year ended March 31, 2024).

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.

CHANGE IN REPORTING PRESENTATION

Historically, accrued compensation, accrued taxes, and other accrued liabilities have been presented separately on the consolidated balance sheets and cost of revenue and cost of other revenue have been presented within operating expenses. During the fourth quarter of fiscal 2024, the Company made the following voluntary changes in accounting presentation and reclassified prior period amounts to conform to current year presentation:

•Consolidated accrued compensation, accrued taxes, and other accrued liabilities into accrued and other liabilities on the consolidated balance sheets, see Note 4, Financial Statement Components, for further details.

•Separately state cost of revenue, cost of other revenue and recognize gross profit on the Company's consolidated statement of operations.

Additionally, the results of operations for the year ended March 31, 2023 have been reclassified to conform to the Company's current period presentation. During the year ended March 31, 2023, the Company reclassified $3.7 million impairment of capitalized software from research and development expenses to impairment of long-lived assets and a $2.7 million impairment of right-of-use assets from general and administrative expenses to impairment of long-lived assets. These prior period reclassifications had no impact on our consolidated balance sheets, statements of comprehensive loss, statements of stockholders' equity and cash flows.

Use of Estimates

USE OF ESTIMATES

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and equity, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates, including, but not limited to, those related to current expected credit losses, returns reserve for expected cancellations, fair value of and/or potential impairment of goodwill and value and useful life of long-lived assets (including intangible assets and right-of-use 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

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

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

ALLOWANCE FOR CREDIT LOSSES

The Company accounts for allowance for credit losses under the current expected credit loss, or CECL, impairment model for its financial assets, including accounts receivable, and presents the net amount of the financial instrument expected to be collected. The current expected credit loss 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.

Concentrations

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, 2024 and 2023, no customer accounted for more than 10% of accounts receivable. For the years ended March 31, 2024, 2023, and 2022, no customer accounted for more than 10% of revenue.

Operating Lease, Right-Of-Use Assets and Lease Liabilities

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 year to seven 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.

In connection with partially ceasing use of the Company’s Headquarters and an international office space, the Company recorded impairment charges of $9.9 million and $1.1 million, respectively, as the carrying amount of the right-of-use assets related to the leases exceeded its fair value based on the Company’s estimate of future discounted cash flows related to the leased facility. During fiscal 2024, the non-cash charge of $11.0 million was recorded as an impairment of long-lived assets on the consolidated statements of operations and consisted of an $11.0 million impairment of operating lease right-of-use assets. See Note 6, Leases, for further details.

Property and Equipment

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. Depreciation is computed using the straight-line method over the service period of the related fixed asset as follows:

Property and equipment

Useful Lives

Computer equipment

3 years

Furniture and fixtures

5 years

Capitalized internal-use software

7 years

Leasehold improvements

Lesser of estimated useful life or remaining lease term

Expenditures for improvements that extend the physical or economic life of the property are capitalized. Construction in progress primarily relates to costs to acquire or internally develop internal-use software not fully completed as of March 31, 2024 and 2023.

Maintenance, repairs, and ordinary replacements are charged to expense. Gains or losses on the disposition of property and equipment are recorded in the consolidated statements of operations.

Capitalized Internal Use Software Costs and Research and Development Expenses

CAPITALIZED INTERNAL-USE SOFTWARE COSTS

Certain costs of software are capitalized during the application development phase. 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 as noted in Property and Equipment.

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

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

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 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

CONVERTIBLE SENIOR NOTES

In accounting for the issuance of the 0.50% Convertible Senior Notes due 2024 and the 4.0% 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

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

Advertising costs are expensed as incurred

Foreign Currency Translation

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

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 the allocation of resources.

The Company continued to conclude that it has one reporting unit, and it operates in a single reportable segment.

Fair Value of Financial Instruments

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 8, Convertible Senior Notes and Term Loan) are recorded at net carrying value.

Stock-based Compensation

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

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

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

RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS

In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires disclosure of incremental segment information on an annual and interim basis. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and requires retrospective application to all prior periods presented in the financial statements. The Company is currently evaluating the impact that this guidance will have on the presentation of its consolidated financial statements and accompanying notes.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which expands disclosures in an entity’s income tax rate reconciliation table and disclosures regarding cash taxes paid both in the U.S. and foreign jurisdictions. The update will be effective for annual periods beginning after December 15, 2024. The Company is currently evaluating the impact that this guidance will have on the presentation of its consolidated financial statements and accompanying notes.

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

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.

FINANCIAL STATEMENT COMPONENTS - Schedule of Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Prepaid expense	$ 18,172	$ 18,546
Contract assets, current	9,453	11,023
Other current assets	7,633	5,061
Total other current assets	$ 35,258	$ 34,630

FINANCIAL STATEMENT COMPONENTS - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 26,800	$ 36,800	$ 42,100
Impairment of capitalized software	$ 0	$ 3,729	$ 0

CONVERTIBLE SENIOR NOTES AND TERM LOAN - Carrying Amount (Details) - USD ($)	Mar. 31, 2024	Mar. 31, 2023	Aug. 31, 2022	Aug. 11, 2022	Aug. 10, 2022
Convertible Debt \| Convertible Senior Notes 2024
Debt Instrument [Line Items]
Principal	$ 0	$ 63,295,000	$ 403,800,000
Unamortized debt discount and issuance costs	0	(363,000)
Net carrying amount	0	62,932,000
Convertible Debt \| Convertible Notes 2028
Debt Instrument [Line Items]
Principal	201,914,000	201,914,000		$ 201,900,000
Unamortized debt discount and issuance costs	(4,118,000)	(5,093,000)
Net carrying amount	197,796,000	196,821,000
Loans Payable \| Term Loan
Debt Instrument [Line Items]
Principal	225,000,000	250,000,000			$ 250,000,000
Unamortized debt discount and issuance costs	(13,106,000)	(18,007,000)
Net carrying amount	$ 211,894,000	$ 231,993,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

- Definition

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

+ References + Details

CONVERTIBLE SENIOR NOTES AND TERM LOAN - Exchange Transaction and 2028 Notes (Details)				1 Months Ended		12 Months Ended
	Feb. 23, 2023 USD ($)	Dec. 09, 2022 USD ($)	Aug. 11, 2022 USD ($) d $ / shares	Aug. 31, 2022 USD ($)	Feb. 28, 2019	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Aug. 10, 2022 USD ($)
Debt Instrument [Line Items]
Shares repurchased				$ 60,000,000
Gain (loss) on debt extinguishment						$ (1,766,000)	$ 18,545,000	$ 0
Convertible Notes 2028 \| Convertible Debt
Debt Instrument [Line Items]
Debt instrument, face value			$ 201,900,000			201,914,000	201,914,000
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, effective interest rate			4.70%
Debt instrument, redemption price, percentage			100.00%
Minimum percentage held in convertible notes to declare principal amount due			25.00%
Convertible Notes 2028 \| Convertible Debt \| Commencing After the Fiscal Quarter Ending on December 31, 2022
Debt Instrument [Line Items]
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%
Convertible Notes 2028 \| Convertible Debt \| Measurement Period
Debt Instrument [Line Items]
Debt instrument, convertible, threshold consecutive trading days \| d			5
Debt instrument, convertible, threshold percentage of stock price trigger			98.00%
Term Loan \| Loans Payable
Debt Instrument [Line Items]
Debt instrument, face value						225,000,000	250,000,000		$ 250,000,000
Debt instrument, effective interest rate									11.90%
Term Loan \| Loans Payable \| Exchange Transaction
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				$ 403,800,000		$ 0	$ 63,295,000
Debt instrument, interest rate							0.50%
Gain (loss) on debt extinguishment	$ 300,000	$ 2,100,000	$ 16,100,000
Debt instrument, convertible, conversion ratio					0.0389484
Debt instrument, effective interest rate			1.20%
Convertible Senior Notes 2024 \| Convertible Debt \| Common Stock
Debt Instrument [Line Items]
Shares repurchased			$ 60,000,000

FINANCIAL STATEMENT COMPONENTS

12 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

FINANCIAL STATEMENT COMPONENTS

Accounts receivable, net consisted of the following (in thousands):


	March 31,
	2024		2023
Trade accounts receivable	$	59,757	$	63,501
Unbilled trade accounts receivable	4,470		5,668
Less: allowance for credit losses	(2,746)		(3,644)
Less: allowance for sales reserves	(2,502)		(3,218)
Total accounts receivable, net	$	58,979	$	62,307

Allowance for credit losses and sales reserves consisted of the following (in thousands):


	March 31,
	2024				2023
	Credit Losses		Sales Reserves		Credit Losses		Sales Reserves
Beginning balance	$	(3,644)	$	(3,218)	$	(3,373)	$	(5,527)
Provision (reserve)	(1,969)		(3,581)		(3,255)		(3,421)
Recoveries (Write-offs)	2,867		4,297		2,984		5,730
Ending balance	$	(2,746)	$	(2,502)	$	(3,644)	$	(3,218)

Property and equipment, net consisted of the following (in thousands):


	March 31,
	2024		2023
Computer equipment	$	53,788	$	56,106
Software development costs	119,314		109,590
Software licenses	14,562		10,175
Leasehold improvements	29,666		33,269
Furniture and fixtures	11,675		11,994
Construction in progress	9,593		5,030
Total property and equipment	238,598		226,164
Less: accumulated depreciation and amortization	(185,417)		(168,293)
Total property and equipment, net	$	53,181	$	57,871

Depreciation and amortization expense was $26.8 million, $36.8 million, and $42.1 million for the years ended March 31, 2024, 2023, and 2022, 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 (in thousands):


	March 31,
	2024		2023
Prepaid expense	$	18,172	$	18,546
Contract assets, current	9,453		11,023
Other current assets	7,633		5,061
Total other current assets	$	35,258	$	34,630

Accrued and other liabilities consisted of the following (in thousands):


	March 31,
	2024		2023
Accrued compensation	$	19,550	$	29,614
Accrued taxes	44,096		29,570
Other accrued liabilities	14,456		14,556
Total accrued and other liabilities	$	78,102	$	73,740

GEOGRAPHICAL INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
GEOGRAPHICAL INFORMATION (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Revenue	$ 728,705	$ 743,938	$ 638,130
Property and equipment, net	53,181	57,871
United States
Segment Reporting Information [Line Items]
Revenue	507,507	536,678	443,118
Property and equipment, net	49,992	54,191
United Kingdom
Segment Reporting Information [Line Items]
Revenue	121,920	107,585	91,192
Other International
Segment Reporting Information [Line Items]
Revenue	99,278	99,675	$ 103,820
Property and equipment, net	$ 3,189	$ 3,680

- 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
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

FAIR VALUE MEASUREMENTS - Cash, Cash Equivalents and Investments with Hierarchy (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 116,262	$ 111,400	$ 91,205
Accumulated gross unrealized gain, before tax	0	59
Accumulated gross unrealized loss, before tax	(1)	(28)
Cash, cash equivalents and debt securities available-for-sale, amortized cost	117,772	138,926
Cash, cash equivalents and debt securities available-for-sale	117,771	138,957
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accumulated gross unrealized gain, before tax	0	4
Accumulated gross unrealized loss, before tax	0	(1)
Cash, cash equivalents and debt securities available-for-sale, amortized cost	91,576	106,362
Cash, cash equivalents and debt securities available-for-sale	91,576	106,365
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	26,196	32,564
Accumulated gross unrealized gain, before tax	0	55
Accumulated gross unrealized loss, before tax	(1)	(27)
Debt securities, available-for-sale	26,195	32,592
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	116,262	111,400
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	91,115	104,763
Cash and Cash Equivalents \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	25,147	6,637
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	461	1,329
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	461	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	0	1,329
Short-Term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	1,048	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	0	1,602
Short-Term Investments \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	1,048	24,626
Cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	53,943	95,828
Cash and cash equivalents, fair value disclosure	53,943	95,828
Cash \| Cash and Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	53,943	95,828
Cash \| Restricted Cash (Current & Non-current)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Money market funds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	37,633	8,935
Cash and cash equivalents, fair value disclosure	37,633	8,935
Accumulated gross unrealized gain, before tax	0	0
Accumulated gross unrealized loss, before tax	0	0
Money market funds \| Cash and Cash Equivalents \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	37,172	8,935
Money market funds \| Restricted Cash (Current & Non-current) \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	461	0
Money market funds \| Short-Term Investments \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Treasury securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs		1,599
Accumulated gross unrealized gain, before tax		4
Accumulated gross unrealized loss, before tax		(1)
Debt securities, available-for-sale		1,602
Treasury securities \| Cash and Cash Equivalents \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale		0
Treasury securities \| Restricted Cash (Current & Non-current) \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale		0
Treasury securities \| 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
Term deposit \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	25,147
Cash and cash equivalents, fair value disclosure	25,147
Accumulated gross unrealized gain, before tax	0
Accumulated gross unrealized loss, before tax	0
Term deposit \| Cash and Cash Equivalents \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	25,147
Term deposit \| Restricted Cash (Current & Non-current) \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0
Term deposit \| Short-Term Investments \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0
Term deposit \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents		1,329
Cash and cash equivalents, fair value disclosure		1,329
Accumulated gross unrealized gain, before tax		0
Accumulated gross unrealized loss, before tax		0
Term deposit \| Cash and Cash Equivalents \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents		0
Term deposit \| Restricted Cash (Current & Non-current) \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents		1,329
Term deposit \| Short-Term Investments \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale		0
Commercial paper \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	1,049	8,610
Accumulated gross unrealized gain, before tax	0	0
Accumulated gross unrealized loss, before tax	(1)	(2)
Debt securities, available-for-sale	1,048	8,608
Commercial paper \| Cash and Cash Equivalents \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	6,637
Commercial paper \| 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	0	0
Commercial paper \| Short-Term Investments \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	$ 1,048	1,971
Corporate debt \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs		22,625
Accumulated gross unrealized gain, before tax		55
Accumulated gross unrealized loss, before tax		(25)
Debt securities, available-for-sale		22,655
Corporate debt \| Cash and Cash Equivalents \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale		0
Corporate debt \| 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		0
Corporate debt \| Short-Term Investments \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale		$ 22,655

INCOME TAXES - Reconciliation of Taxes Provided to Federal Statutory Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Tax benefit at statutory rate	$ (13,429)	$ (15,075)	$ (36,909)
State income taxes before valuation allowance, net of federal effect	(2,821)	(3,088)	(7,754)
Foreign tax rate differential	(8)	492	(2,056)
Research and development credits	714	(2,513)	(3,362)
Change in valuation allowance	7,908	(1,708)	49,620
Compensation/option differences	8,449	16,858	(6,788)
Non-deductible compensation	2,612	4,397	7,606
Other	217	3,444	(744)
Total income tax provision (benefit)	$ 3,642	$ 2,807	$ (387)

LEASES - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Cash outflows from operating leases	$ 14,634	$ 18,985	$ 17,310
Right-of-use assets obtained in exchange for operating lease obligations	$ 2,311	$ 3,777	$ 9,104

LEASES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
LEASES - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Lessee, Lease, Description [Line Items]
Percentage of leased space occupied	42.00%
Impairment of right-of-use assets	$ 11,034	$ 2,651	$ 0
Impairment of long lived assets	$ 11,000
Discount Rate
Lessee, Lease, Description [Line Items]
Right of use asset, measurement input (percent)	11.00%
Office space
Lessee, Lease, Description [Line Items]
Impairment of right-of-use assets	$ 9,900	$ 1,100

LEASES - Maturity of Lease Liabilities (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Leases [Abstract]
2025	$ 13,737
2026	12,633
2027	11,331
2028	10,661
2029	10,487
Thereafter	18,435
Total lease payments	77,284
Less: imputed interest	(9,342)
Present value of lease liabilities	$ 67,942

FAIR VALUE MEASUREMENTS - Narrative (Details) - Level 2 - Convertible Debt - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Convertible Senior Notes 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 57.3	$ 57.3
Convertible Notes 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 161.7	$ 183.0

LEASES (Tables)

12 Months Ended

Mar. 31, 2024

Leases [Abstract]

Schedule of Lease Cost and Supplemental Cash Flow and Lease Information

The components of lease expense were as follows:


	For the years ended March 31,
	2024		2023		2022
Operating lease expense	$	10,934	$	12,030	$	13,482
Variable lease expense	$	3,690	$	6,378	$	3,837

The supplemental cash flow information related to leases was as follows:


	For the years ended March 31,
	2024		2023		2022
Cash outflows from operating leases	$	14,634	$	18,985	$	17,310
Right-of-use assets obtained in exchange for operating lease obligations	$	2,311	$	3,777	$	9,104

The following table presents supplemental lease information:


	March 31, 2024	March 31, 2023
Weighted average remaining lease term	6.2 years	7.0 years
Weighted average discount rate	4.3%	4.1%

Schedule of Maturity of Lease Liabilities

The following table presents maturity of lease liabilities under the Company's non-cancellable operating leases as of March 31, 2024:


2025	$	13,737
2026	12,633
2027	11,331
2028	10,661
2029	10,487
Thereafter	18,435
Total lease payments	77,284
Less: imputed interest	(9,342)
Present value of lease liabilities	$	67,942

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction	$ 1,400
Sales and marketing	$ 271,944	$ 311,883	$ 314,223
Related party
Related Party Transaction [Line Items]
Term of contract	2 years
Sales and marketing	$ 700

INTANGIBLE ASSETS AND GOODWILL

12 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS AND GOODWILL

The carrying value of intangible assets consisted of the following:


	March 31, 2024						March 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Developed technology	$	46,454	$	(36,823)	$	9,631	$	46,461	$	(28,361)	$	18,100
Customer relationships	105,827		(28,741)		77,086		105,836		(16,824)		89,012
Trade names and domains	584		(584)		—		584		(584)		—
Total acquired identifiable intangible assets	$	152,865	$	(66,148)	$	86,717	$	152,881	$	(45,769)	$	107,112

As of March 31, 2024, the weighted average remaining useful life for developed technology and customer relationships were 1.5 years and 6.7 years, respectively.

Amortization expense for related intangible assets was $20.4 million, $21.1 million, and $8.3 million for the years ended March 31, 2024, 2023, and 2022, respectively.

There were no write-offs during the year ended March 31, 2024, and 2023. 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. 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 Consolidated Statement of Operations and includes $0.3 million to be received as future services.

At March 31, 2024, annual amortization of intangible assets, based upon existing intangible assets and current useful lives, is estimated to be the following (in thousands):


	Amount
2025	$	19,095
2026	13,896
2027	11,757
2028	11,044
2029 and thereafter	30,925
Total	$	86,717

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


	Amount
Balance at March 31, 2022	$	266,867
Foreign currency translation	(4)
Balance at March 31, 2023	266,863
Foreign currency translation	(289)
Balance at March 31, 2024	$	266,574

The Company conducted its annual impairment tests of goodwill in the fourth quarter of fiscal 2024, 2023, and 2022, and determined that no adjustment to the carrying value of goodwill was required.

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Interest expense	$ (35,352)	$ (23,020)	$ (2,271)
Amortization of debt discount and issuance costs	(4,472)	(4,254)	(20,404)
Gain on warrants remeasurement	2,176	417	0
Gain (loss) on debt extinguishment	(1,766)	18,545	0
Gain (loss) on sale of assets	(179)	1,821	(68)
Gain (loss) on foreign exchange	(1,032)	993	908
Other income	4,278	1,454	206
Other expense, net	$ (36,347)	$ (4,044)	$ (21,629)

LEASES - Supplemental lease Information (Details)	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Weighted average remaining lease term	6 years 2 months 12 days	7 years
Weighted average discount rate	4.30%	4.10%

LEASES

12 Months Ended

Mar. 31, 2024

Leases [Abstract]

LEASES

The components of lease expense were as follows:


	For the years ended March 31,
	2024		2023		2022
Operating lease expense	$	10,934	$	12,030	$	13,482
Variable lease expense	$	3,690	$	6,378	$	3,837

The supplemental cash flow information related to leases was as follows:


	For the years ended March 31,
	2024		2023		2022
Cash outflows from operating leases	$	14,634	$	18,985	$	17,310
Right-of-use assets obtained in exchange for operating lease obligations	$	2,311	$	3,777	$	9,104

Short-term lease expense was immaterial during the years ended March 31, 2024 and 2023.

The following table presents supplemental lease information:


	March 31, 2024	March 31, 2023
Weighted average remaining lease term	6.2 years	7.0 years
Weighted average discount rate	4.3%	4.1%

The following table presents maturity of lease liabilities under the Company's non-cancellable operating leases as of March 31, 2024:


2025	$	13,737
2026	12,633
2027	11,331
2028	10,661
2029	10,487
Thereafter	18,435
Total lease payments	77,284
Less: imputed interest	(9,342)
Present value of lease liabilities	$	67,942

The Company continues to evaluate its leases for potential impairments. During the third quarter of fiscal 2024, in support of the Company's office-home hybrid workforce model, the Company's board of directors authorized the cessation of use of approximately 42% of leased space at the Company’s headquarters at 675 Creekside Way, Campbell, CA (the “Company’s Headquarters”). The Company ceased use of the space on November 2, 2023, and plans to continue to hold this space available for sublease. Additionally, the Company partially ceased use of office space for a certain international lease and does not plan to hold this available for sublease.

The Company reviewed the recoverability of the related right-of-use asset and determined the changes in the intended use of these locations represented an impairment indicator, as these events indicated the carrying value of the right-of-use asset may not be recoverable. In connection with partially ceasing use of the Company’s Headquarters and an international office space, the Company recorded impairment charges of $9.9 million and $1.1 million, respectively, as the carrying amount of the right-of-use assets related to the leases exceeded its fair value based on the Company’s estimate of future discounted cash flows under

the income approach. The fair value represented a Level 3 measurement and utilized certain unobservable inputs which required significant judgment and estimates, including estimated sublease income, temporary idling periods, discount rates and future cash flows based on the Company’s experience and assessment of existing market conditions. The estimation of sublease income is subject to uncertainty due to various factors, including market conditions, demand for the Company’s leased headquarters, the future financial stability of potential subtenants, market rent, any related free rent periods and uncertainties regarding demand for the commercial real estate market. Temporary idling periods are difficult to predict accurately and may arise due to unforeseen circumstances, such as availability of new tenants, economic downturns, or changes in commercial real estate market conditions. The estimated discount rate of 11% is influenced by various factors, including prevailing interest rates, credit risk, tenor, and sub-lease specific characteristics. The estimated future cash flows were calculated by factoring in the approximated sublease income, temporary idling periods, and discount rates to determine the Level 3 fair value measurement. The Company performed a sensitivity analysis and determined that variations in the aforementioned assumptions do not materially impact the Company’s fair value measurement. During fiscal 2024, the non-cash charge of $11.0 million was recorded as an impairment of long-lived assets on the consolidated statements of operations and consisted of an $11.0 million impairment of operating lease right-of-use assets.

During fiscal 2023, certain leases were impaired, and as a result, $2.7 million of right-of-use assets were written off.

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, 2024	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Net loss	$ (67,592)	$ (73,143)	$ (175,383)
Weighted average common shares outstanding - basic (in shares)	121,106	115,959	113,354
Weighted average common shares outstanding - diluted (in shares)	121,106	115,959	113,354
Net loss per share:
Basic (in dollars per share)	$ (0.56)	$ (0.63)	$ (1.55)
Diluted (in dollars per share)	$ (0.56)	$ (0.63)	$ (1.55)

- 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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Reference 35: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
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Reference 36: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
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Reference 37: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)
-Publisher FASB
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Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef
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-Paragraph 1
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+ Details

NET LOSS PER SHARE - Schedule of Antidilutive Awards (Details) - shares shares in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	9,339	18,663	12,029
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	497	685	867
Restricted stock units and Performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	7,396	13,617	10,401
Potential shares attributable to the ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	1,446	1,261	761
Warrants to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	0	3,100	0

CONVERTIBLE SENIOR NOTES AND TERM LOAN - Repayments of 2024 Notes (Details) - USD ($) $ in Thousands					12 Months Ended
	Feb. 01, 2024	Feb. 23, 2023	Dec. 09, 2022	Aug. 11, 2022	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022	Sep. 28, 2022
Debt Instrument [Line Items]
Gain (loss) on debt extinguishment					$ (1,766)	$ 18,545	$ 0
Convertible Senior Notes 2024
Debt Instrument [Line Items]
Remaining aggregate principal amount						63,300
Accrued interest	$ 200
Convertible Senior Notes 2024 \| Convertible Debt
Debt Instrument [Line Items]
Debt instrument repurchased face amount		$ 5,000	$ 21,800			$ 32,900		$ 6,000
Debt Instrument repurchase		4,700	20,100					$ 5,300
Gain (loss) on debt extinguishment		$ 300	$ 2,100	$ 16,100
Debt instrument, effective interest rate				1.20%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of the consolidated provision for income taxes for fiscal 2024, 2023, and 2022 consisted of the following:


	March 31,
Current:	2024		2023		2022
Federal	$	714	$	423	$	—
State	2,384		1,331		145
Foreign	544		1,053		721
Total current tax provision	3,642		2,807		866
Deferred
Federal	—		—		(984)
State	—		—		(269)

Total deferred tax provision	—		—		(1,253)
Income tax provision (benefit)	$	3,642	$	2,807	$	(387)

Schedule of Deferred Tax Assets and Liabilities

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


	March 31,
	2024		2023
Deferred tax assets:
Net operating loss carryforwards	$	296,036	$	317,035
Research and development and other credit carryforwards	28,118		29,237
Stock-based compensation	7,540		9,257
Reserves and allowances	17,463		16,050
Operating lease liability	15,456		18,236
Capitalized IRC 174 costs	51,317		31,207
Fixed assets and intangibles	6,435		5,728
Gross deferred tax assets	422,365		426,750
Valuation allowance	(368,408)		(360,274)
Total deferred tax assets	$	53,957	$	66,476
Deferred tax liabilities:
Intangibles	(19,045)		(23,781)
Deferred sales commissions	(26,303)		(30,607)
Operating lease, right-of-use asset	(8,724)		(12,202)
Net deferred taxes	$	(115)	$	(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,
	2024		2023		2022
Tax benefit at statutory rate	$	(13,429)	$	(15,075)	$	(36,909)
State income taxes before valuation allowance, net of federal effect	(2,821)		(3,088)		(7,754)
Foreign tax rate differential	(8)		492		(2,056)
Research and development credits	714		(2,513)		(3,362)
Change in valuation allowance	7,908		(1,708)		49,620
Compensation/option differences	8,449		16,858		(6,788)
Non-deductible compensation	2,612		4,397		7,606
Other	217		3,444		(744)
Total income tax provision (benefit)	$	3,642	$	2,807	$	(387)

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,
	2024		2023		2022
Balance at beginning of year	$	10,113	$	9,850	$	7,053
Gross increases - tax positions in prior period	1,457		163		1,918
Gross increases - tax positions related to the current year	431		158		951
Gross decreases - tax positions in prior period	(337)		—		—
Settlements	(287)		—		(63)
Lapse of statute of limitations	(512)		(34)		(19)
Currency	(54)		(24)		10
Balance at end of year	$	10,811	$	10,113	$	9,850

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Mar. 31, 2024

Accounting Policies [Abstract]

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 ("SaaS") provider of contact center, voice, video, chat, and enterprise-class API solutions powered by one global cloud communications platform. 8x8 empowers workforces worldwide by connecting individuals and teams, so they can collaborate faster and work smarter from anywhere. 8x8 provides real-time business analytics and intelligence, giving its customers unique insights across all interactions and channels on its platform, so they can support a distributed and hybrid working model while delighting their end-customers and accelerating their business. A majority of all revenue is generated from communication services subscriptions and platform usage. The Company also generates revenue from sales of hardware and professional services, which are complementary to the delivery of its integrated technology platform.

BASIS OF PRESENTATION AND CONSOLIDATION

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.

CHANGE IN REPORTING PRESENTATION

•Separately state cost of revenue, cost of other revenue and recognize gross profit on the Company's consolidated statement of operations.

USE OF ESTIMATES

REVENUE RECOGNITION

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.

Judgments and Estimates

Service Revenue

Other Revenue

Other revenue comprises primarily of product revenue and professional services revenue.

Contract Assets

Deferred Revenue

Deferred Sales Commission Costs

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.

ALLOWANCE FOR CREDIT LOSSES

CONCENTRATIONS

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.

OPERATING LEASE, RIGHT-OF-USE ASSETS, AND LEASE LIABILITIES

PROPERTY AND EQUIPMENT

Property and equipment

Useful Lives

Computer equipment

3 years

Furniture and fixtures

5 years

Capitalized internal-use software

7 years

Leasehold improvements

Lesser of estimated useful life or remaining lease term

Maintenance, repairs, and ordinary replacements are charged to expense. Gains or losses on the disposition of property and equipment are recorded in the consolidated statements of operations.

CAPITALIZED INTERNAL-USE SOFTWARE COSTS

ACCOUNTING FOR LONG-LIVED ASSETS

GOODWILL AND OTHER INTANGIBLE ASSETS

CONVERTIBLE SENIOR NOTES

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

RESEARCH AND DEVELOPMENT EXPENSES

ADVERTISING COSTS

Advertising costs are expensed as incurred and were $1.0 million, $1.5 million, and $3.4 million for the years ended March 31, 2024, 2023, and 2022, respectively.

FOREIGN CURRENCY TRANSLATION

SEGMENT INFORMATION

The Company continued to conclude that it has one reporting unit, and it operates in a single reportable segment.

FAIR VALUE OF FINANCIAL INSTRUMENTS

STOCK-BASED COMPENSATION

The Company accounts for the fair value of performance stock units ("PSUs") using Monte Carlo simulations.

COMPREHENSIVE LOSS

NET LOSS PER SHARE

RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS

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.

REVENUE RECOGNITION - Contract Balances (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Contract assets, current (component of Other current assets)	$ 9,453	$ 11,023
Contract assets, non-current (component of Other assets)	7,879	10,570
Deferred revenue, current	34,325	34,909
Deferred revenue, non-current	$ 7,810	$ 10,615

FINANCIAL STATEMENT COMPONENTS - Schedule of Accounts Receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Trade accounts receivable	$ 59,757	$ 63,501
Unbilled trade accounts receivable	4,470	5,668
Less: allowance for credit losses	(2,746)	(3,644)	$ (3,373)
Less: allowance for sales reserves	(2,502)	(3,218)	$ (5,527)
Total accounts receivable, net	$ 58,979	$ 62,307

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Mar. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Mar. 31, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The 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 $0.7 million during fiscal 2024.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Mar. 31, 2024

Equity [Abstract]

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

The following table presents stock-based compensation expense (in thousands):


	Years Ended March 31,
	2024		2023		2022
Cost of service revenue	$	4,993	$	9,236	$	8,815
Cost of other revenue	1,918		3,531		4,717
Research and development	24,112		29,581		32,655
Sales and marketing	15,271		24,921		47,202
General and administrative	15,616		22,267		39,942
Total	$	61,910	$	89,536	$	133,331

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

The following table presents the RSU activity during the years ended March 31, 2024, 2023, and 2022 (shares in thousands):


	Number of Shares	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (in Years)
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
Granted	7,186	3.85
Vested and released	(7,613)	8.87
Forfeited	(2,241)	7.13
Balance at March 31, 2024	10,325	$	5.36	1.75

The following table presents the PSU activity during the years ended March 31, 2024, 2023, and 2022 (shares in thousands):


	Number of Shares	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (in Years)
Balance at March 31, 2021	1,576	$	27.33	1.24
Granted	497	30.41
Granted for performance achievement(1)	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 achievement(1)	24	7.31
Vested and released	(128)	25.65
Forfeited	(1,151)	28.11
Balance at March 31, 2023	624	11.30		1.45
Granted	2,023	3.25


Forfeited	(116)	21.83
Balance at March 31, 2024	2,531	$	4.38	1.16

(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
2024	$	3.25	68.85%	—	68.97%	4.03%	—	4.08%
2023	$	7.05	51.96%	—	69.30%	3.15%	—	4.42%
2022	$	30.98	58.65%	—	59.67%	0.34%	—	0.40%

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,
	2024	2023	2022
Expected volatility	75%	72%	45%
Expected dividend yield	—	—	—
Risk-free interest rate	5.26%	3.30%	0.57%
Weighted average expected term	0.8 years	0.8 years	0.8 years
Weighted average fair value of rights granted	$1.31	$2.09	$5.81

FAIR VALUE MEASUREMENTS

12 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

Cash, cash equivalents, and available-for-sale investments were as follows (in thousands):


As of March 31, 2024	Amortized Costs		Gross Unrealized Gain		Gross Unrealized Loss		Estimated Fair Value		Cash and Cash Equivalents		Restricted Cash (Current & Non-current)		Short-Term Investments
Cash	$	53,943	$	—	$	—	$	53,943	$	53,943	$	—	$	—
Level 1:
Money market funds	37,633		—		—		37,633		37,172		461		—
Subtotal	91,576		—		—		91,576		91,115		461		—
Level 2:
Term deposit	25,147		—		—		25,147		25,147		—		—
Commercial paper	1,049		—		(1)		1,048		—		—		1,048
Subtotal	26,196		—		(1)		26,195		25,147		—		1,048
Total assets	$	117,772	$	—	$	(1)	$	117,771	$	116,262	$	461	$	1,048


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
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:
Certificate 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

The restricted cash component of the money market funds is comprised of letters of credit securing leases for certain office facilities.

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, 2024, 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, 2024, the Company did not record any allowance for credit losses on its investments.

The Company uses the Black-Scholes option-pricing valuation model to value its detachable warrants from inception and at each reporting period. Changes in the fair values of the detachable warrants liability are recorded as loss on warrants remeasurement within Other (expense) income, net in the consolidated statements of operations.


	March 31, 2024			March 31, 2023
Estimated fair value of detachable warrants	$	3,321		$	5,497
Unobservable inputs:
Stock volatility	87.2		%	67.2		%
Risk-free rate	4.3		%	3.6		%
Expected term	3.4 years			4.4 years

As of March 31, 2023, the estimated fair value of the 2024 Notes was $57.3 million, and as of March 31, 2024 and March 31, 2023 the estimated fair value of the Company's convertible senior notes due in 2028 was $161.7 million and $183.0 million, respectively (see Note 8, Convertible Senior Notes and Term Loan). The fair value of the convertible senior notes was determined based on the closing price of each of the securities on the last trading day of the reporting period, and each is Level 2 in the fair value hierarchy due to limited trading activity of the debt instruments. As of March 31, 2024 and 2023, the carrying value of the Company's Term Loan approximates its estimated fair value.

- 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

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY - Assumptions Used In Black-Scholes Model (Details) - Employee Stock - $ / shares	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	75.00%	72.00%	45.00%
Expected dividend yield	0.00%	0.00%	0.00%
Risk-free interest rate	5.26%	3.30%	0.57%
Weighted average fair value of rights granted	9 months 18 days	9 months 18 days	9 months 18 days
Weighted average fair value of options granted (in dollars per share)	$ 1.31	$ 2.09	$ 5.81

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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+ Details

FAIR VALUE MEASUREMENTS - Summary of Assumptions Used in Determination of Fair Value (Details) $ in Thousands	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value of the warrants	$ 3,321	$ 5,497
Stock volatility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrant, measurement input	0.872	0.672
Risk-free rate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrant, measurement input	0.043	0.036
Expected term
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrants and rights outstanding, term	3 years 4 months 24 days	4 years 4 months 24 days

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2024	Mar. 31, 2023
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	300,000,000
Common stock, shares issued (in shares)	125,193,573	114,659,255
Common stock, shares outstanding (in shares)	125,193,573	114,659,255

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY - Stock Purchase Right and Restricted Stock Unit Activity (Details) - $ / shares shares in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Restricted stock units and Performance stock units
Number of Shares
Beginning balance (in shares)	12,993	9,375	8,646
Granted (in shares)	7,186	13,297	8,333
Vested and released (in shares)	(7,613)	(5,275)	(5,146)
Forfeited (in shares)	(2,241)	(4,404)	(2,458)
Ending balance (in shares)	10,325	12,993	9,375	8,646
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 8.56	$ 20.41	$ 19.27
Granted (in dollars per share)	3.85	5.71	21.37
Vested and released (in dollars per share)	8.87	19.18	19.82
Forfeited (in dollars per share)	7.13	12.46	20.85
Ending balance (in dollars per share)	$ 5.36	$ 8.56	$ 20.41	$ 19.27
Weighted Average Remaining Contractual Term (in Years)	1 year 9 months	1 year 10 months 2 days	2 years 1 month 9 days	1 year 10 months 6 days
Performance Stock Units
Number of Shares
Beginning balance (in shares)	624	1,026	1,576
Granted (in shares)	2,023	853	497
Granted for performance achievement (in shares)		24	20
Vested and released (in shares)		(128)	(250)
Forfeited (in shares)	(116)	(1,151)	(817)
Ending balance (in shares)	2,531	624	1,026	1,576
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 11.30	$ 35.36	$ 27.33
Granted (in dollars per share)	3.25	7.31	30.41
Granted for performance achievement (in dollars per share)		7.31	30.41
Vested and released (in dollars per share)		25.65	17.15
Forfeited (in dollars per share)	21.83	28.11	23.45
Ending balance (in dollars per share)	$ 4.38	$ 11.30	$ 35.36	$ 27.33
Weighted Average Remaining Contractual Term (in Years)	1 year 1 month 28 days	1 year 5 months 12 days	10 months 20 days	1 year 2 months 26 days

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($) $ in Millions		3 Months Ended	12 Months Ended
	Mar. 22, 2024	Dec. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Lessee, Lease, Description [Line Items]
Purchase obligation		$ 1.0	$ 28.1
Fiscal year 2025			11.4
Fiscal year 2026			10.1
Other commitment			61.2
USF Fees	$ 14.9
Additional liability	$ 5.6
State and Local Taxes and Surcharges
Lessee, Lease, Description [Line Items]
Accrued contingent indirect tax liabilities			$ 19.2	$ 13.5
Hosting Service Contract
Lessee, Lease, Description [Line Items]
Term of contract		3 years	3 years

Insider Trading Arrangements shares in Thousands	3 Months Ended	12 Months Ended
Insider Trading Arrangements shares in Thousands	Mar. 31, 2024 shares	Mar. 31, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Sam Wilson [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		Sam Wilson, Chief Executive Officer, adopted a Rule 10b5-1 Trading Plan on March 14, 2024 that is intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act. Mr. Wilson's Rule 10b5-1 Trading Plan provides for the potential sale of up to 29,000 shares of the Company's common stock between June 13, 2024 and June 14, 2025.
Name	Sam Wilson
Title	Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	March 14, 2024
Arrangement Duration	366 days
Aggregate Available	29	29

GEOGRAPHICAL INFORMATION

12 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

GEOGRAPHICAL INFORMATION

The following tables set forth the geographic information for each period (in thousands):


	Years Ended March 31,
	2024		2023		2022
United States	$	507,507	$	536,678	$	443,118
United Kingdom	121,920		107,585		91,192
Other International	99,278		99,675		103,820
Total revenue	$	728,705	$	743,938	$	638,130


	March 31,
	2024		2023
United States	$	49,992	$	54,191
International	3,189		3,680
Total property and equipment, net	$	53,181	$	57,871

- 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
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

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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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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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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+ Details

REVENUE RECOGNITION - Remaining Performance Obligation (Details) $ in Millions	12 Months Ended
	Mar. 31, 2024 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]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 775.0
Revenue, remaining performance obligation, percentage	86.00%
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	14.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period	36 months

GEOGRAPHICAL INFORMATION (Tables)

12 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables set forth the geographic information for each period (in thousands):


	Years Ended March 31,
	2024		2023		2022
United States	$	507,507	$	536,678	$	443,118
United Kingdom	121,920		107,585		91,192
Other International	99,278		99,675		103,820
Total revenue	$	728,705	$	743,938	$	638,130

Long-lived Assets by Geographic Areas


	March 31,
	2024		2023
United States	$	49,992	$	54,191
International	3,189		3,680
Total property and equipment, net	$	53,181	$	57,871

REVENUE RECOGNITION

12 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

Disaggregation of Revenue

The Company disaggregates its revenue by geographic region. See Note 12, Geographical Information.

Contract Balances

The following table provides amounts of contract assets and deferred revenue from contracts with customers (in thousands):


	March 31, 2024		March 31, 2023
Contract assets, current (component of Other current assets)	$	9,453	$	11,023
Contract assets, non-current (component of Other assets)	7,879		10,570
Deferred revenue, current	34,325		34,909
Deferred revenue, non-current	7,810		10,615

Contract assets are recorded for contract consideration not yet invoiced but for which the performance obligations are completed. Contract assets, net of allowances for credit losses, 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. As of March 31, 2023, the contract assets disclosed in the table have been updated to reflect the net balance, which accounts for allowances made for credit losses. The allowance applied to our contract assets as of March 31, 2024 and 2023 and the activity in this account, including the current-period provision for expected credit losses for the years ended March 31, 2024, 2023 and 2022, were not material.

The change in contract assets was primarily driven by billing customers for amounts that had previously been recognized in revenue but not yet billed. During the year ended March 31, 2024, the Company recognized revenue of approximately $38.7 million that was 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, 2024 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 86% of the remaining performance obligations over the next 24 months and approximately 14% 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, 2024, 2023, and 2022 was $40.2 million, $38.2 million, and $34.7 million, respectively. There were no material write-offs during the years ended March 31, 2024, 2023, and 2022.

- 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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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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
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

FINANCIAL STATEMENT COMPONENTS (Tables)

12 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

Schedule of Accounts Receivable

Accounts receivable, net consisted of the following (in thousands):


	March 31,
	2024		2023
Trade accounts receivable	$	59,757	$	63,501
Unbilled trade accounts receivable	4,470		5,668
Less: allowance for credit losses	(2,746)		(3,644)
Less: allowance for sales reserves	(2,502)		(3,218)
Total accounts receivable, net	$	58,979	$	62,307

Schedule of Allowance for Credit Loss

Allowance for credit losses and sales reserves consisted of the following (in thousands):


	March 31,
	2024				2023
	Credit Losses		Sales Reserves		Credit Losses		Sales Reserves
Beginning balance	$	(3,644)	$	(3,218)	$	(3,373)	$	(5,527)
Provision (reserve)	(1,969)		(3,581)		(3,255)		(3,421)
Recoveries (Write-offs)	2,867		4,297		2,984		5,730
Ending balance	$	(2,746)	$	(2,502)	$	(3,644)	$	(3,218)

Schedule of Property, Plant and Equipment

Property and equipment

Useful Lives

Computer equipment

3 years

Furniture and fixtures

5 years

Capitalized internal-use software

7 years

Leasehold improvements

Lesser of estimated useful life or remaining lease term

Property and equipment, net consisted of the following (in thousands):


	March 31,
	2024		2023
Computer equipment	$	53,788	$	56,106
Software development costs	119,314		109,590
Software licenses	14,562		10,175
Leasehold improvements	29,666		33,269
Furniture and fixtures	11,675		11,994
Construction in progress	9,593		5,030
Total property and equipment	238,598		226,164
Less: accumulated depreciation and amortization	(185,417)		(168,293)
Total property and equipment, net	$	53,181	$	57,871

Schedule of Other Current Assets

Other current assets consisted of the following (in thousands):


	March 31,
	2024		2023
Prepaid expense	$	18,172	$	18,546
Contract assets, current	9,453		11,023
Other current assets	7,633		5,061
Total other current assets	$	35,258	$	34,630

Schedule of Accrued and Other Liabilities

Accrued and other liabilities consisted of the following (in thousands):


	March 31,
	2024		2023
Accrued compensation	$	19,550	$	29,614
Accrued taxes	44,096		29,570
Other accrued liabilities	14,456		14,556
Total accrued and other liabilities	$	78,102	$	73,740

INCOME TAXES

12 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

INCOME TAXES

For the years ended March 31, 2024, 2023, and 2022, the Company recorded a provision (benefit) for income taxes of $3.6 million, $2.8 million, and $(0.4) million, respectively. The components of the consolidated provision for income taxes for fiscal 2024, 2023, and 2022 consisted of the following:


	March 31,
Current:	2024		2023		2022
Federal	$	714	$	423	$	—
State	2,384		1,331		145
Foreign	544		1,053		721
Total current tax provision	3,642		2,807		866
Deferred
Federal	—		—		(984)
State	—		—		(269)

Total deferred tax provision	—		—		(1,253)
Income tax provision (benefit)	$	3,642	$	2,807	$	(387)

The Company's income from continuing operations before income taxes included $2.6 million, $2.7 million, and $12.9 million of foreign subsidiary income for the years ended March 31, 2024, 2023, and 2022, 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,
	2024		2023
Deferred tax assets:
Net operating loss carryforwards	$	296,036	$	317,035
Research and development and other credit carryforwards	28,118		29,237
Stock-based compensation	7,540		9,257
Reserves and allowances	17,463		16,050
Operating lease liability	15,456		18,236
Capitalized IRC 174 costs	51,317		31,207
Fixed assets and intangibles	6,435		5,728
Gross deferred tax assets	422,365		426,750
Valuation allowance	(368,408)		(360,274)
Total deferred tax assets	$	53,957	$	66,476
Deferred tax liabilities:
Intangibles	(19,045)		(23,781)
Deferred sales commissions	(26,303)		(30,607)
Operating lease, right-of-use asset	(8,724)		(12,202)
Net deferred taxes	$	(115)	$	(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, 2024, 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, 2024, management determined that a valuation allowance of approximately $368.4 million was needed, compared with approximately $360.3 million as of March 31, 2023.

At March 31, 2024, the Company had federal net operating loss carryforwards of approximately $1,118.7 million, of which $335.5 million are related to years prior to fiscal 2019 and begin to expire in 2034. The remaining $783.2 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, 2024, the Company also had state net operating loss carry-forwards of $915.8 million, the majority of which expire at various dates between 2025 and 2043. The usage of net operating loss carryforwards are subject to certain Internal Revenue Code Section 382 limitations. In addition, at March 31, 2024, the Company had research and development credit carryforwards for federal and California tax reporting purposes of approximately $16.8 million and $23.4 million, respectively. The federal income tax credit carryforwards will expire at various dates between 2035 and 2044, 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,
	2024		2023		2022
Tax benefit at statutory rate	$	(13,429)	$	(15,075)	$	(36,909)
State income taxes before valuation allowance, net of federal effect	(2,821)		(3,088)		(7,754)
Foreign tax rate differential	(8)		492		(2,056)
Research and development credits	714		(2,513)		(3,362)
Change in valuation allowance	7,908		(1,708)		49,620
Compensation/option differences	8,449		16,858		(6,788)
Non-deductible compensation	2,612		4,397		7,606
Other	217		3,444		(744)
Total income tax provision (benefit)	$	3,642	$	2,807	$	(387)

For the years ended March 31, 2024, 2023, and 2022, 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,
	2024		2023		2022
Balance at beginning of year	$	10,113	$	9,850	$	7,053
Gross increases - tax positions in prior period	1,457		163		1,918
Gross increases - tax positions related to the current year	431		158		951
Gross decreases - tax positions in prior period	(337)		—		—
Settlements	(287)		—		(63)
Lapse of statute of limitations	(512)		(34)		(19)
Currency	(54)		(24)		10
Balance at end of year	$	10,811	$	10,113	$	9,850

At March 31, 2024, the Company had unrecognized tax benefits of $10.8 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, 2024 and 2023, the Company recognized $0.2 million and $0.1 million, respectively, in penalty and interest related to unrecognized tax benefits.

Utilization of the Company's net operating loss and tax credit carryforwards can become subject to a substantial annual limitation due to the ownership change limitations provided by Section 382 of the Internal Revenue Code and similar state provisions. Such an annual limitation could result in the expiration or elimination of the net operating loss and tax credit carryforwards before utilization. The Company has performed an analysis of its changes in ownership under Section 382 of the Internal Revenue Code 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
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-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
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-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Audit Information	12 Months Ended
Audit Information	Mar. 31, 2024
Audit Information [Abstract]
Auditor Name	Moss Adams LLP
Auditor Location	Campbell, California
Auditor Firm ID	659

NET LOSS PER SHARE

12 Months Ended

Mar. 31, 2024

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 (in thousands, except per share data):


	For the years ended March 31,
	2024		2023		2022
Net loss	$	(67,592)	$	(73,143)	$	(175,383)
Weighted average common shares outstanding - basic and diluted	121,106		115,959		113,354

Net loss per share - basic and diluted	$	(0.56)	$	(0.63)	$	(1.55)

As the Company was in a loss position for all periods presented, basic net loss per share is equivalent to diluted net loss per share for all periods, as the inclusion of all potential shares of common stock outstanding would have been anti-dilutive. The following potentially weighted-average common shares were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive (shares in thousands):


	For the years ended March 31,
	2024	2023	2022
Stock options	497	685	867
Restricted stock units and Performance stock units	7,396	13,617	10,401
Potential shares attributable to the ESPP	1,446	1,261	761
Warrants to purchase common stock	—	3,100	—
Total anti-dilutive shares	9,339	18,663	12,029

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY - Narrative (Details) - USD ($)				1 Months Ended															2 Months Ended	12 Months Ended
	May 26, 2022	Sep. 18, 2006	Jan. 01, 2005	Aug. 31, 2022	May 31, 2022	Feb. 28, 2022	Dec. 31, 2021	Dec. 31, 2020	May 31, 2020	Aug. 31, 2019	Aug. 31, 2018	Jan. 31, 2018	May 31, 2017	Aug. 31, 2016	Jul. 31, 2015	Nov. 30, 2014	Aug. 31, 2014	May 31, 2006	Feb. 29, 2024	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022	Aug. 31, 2020	Oct. 31, 2017	Sep. 30, 2013	Jun. 30, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options cancelled, value																				$ 300,000	$ 200,000	$ 31,000
Stock options outstanding, value																				$ 400,000	$ 700,000	$ 900,000
Granted (in shares)																				0	0	0
Value of shares issued under employee stock purchase plan																				$ 4,884,000
Payments for Repurchase of Common Stock							$ 45,000,000													$ 0	$ 60,214,000	$ 44,976,000
Shares repurchased				$ 60,000,000
Number of shares repurchased (in shares)				10,695,000
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]
Number of shares available for future grant (in shares)																				200,000
Stock repurchase program, authorized amount													$ 25,000,000
Stock repurchase program, remaining authorized repurchase amount																				$ 7,100,000
2022 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for future grant (in shares)																				2,600,000
Restricted stock units and Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized stock-based compensation expense																				$ 38,600,000
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of options exercised																					40,000	15,300,000
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																				$ 3,700,000
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercised (in shares)																				0
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																				4 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 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 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 issuance (in shares)						1,500,000		1,400,000				1,500,000							800,000
Vesting period																				3 years
Expiration period																				10 years
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
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]
Number of additional shares reserved for issuance (in shares)					3,600,000				3,000,000
Unamortized stock-based compensation expense																				$ 2,500,000
Term of extension		10 years											10 years					10 years
Annual increase in shares available for issuance (in shares)													500,000
Value of shares issued under employee stock purchase plan																				$ 1,900,000	$ 1,100,000	$ 700,000
Percentage of market value price of common stock under Employee Stock Purchase Plan																				85.00%
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

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Total revenue	$ 728,705	$ 743,938	$ 638,130
Total cost of revenue	224,905	241,475	247,558
Gross profit	503,800	502,463	390,572
Operating expenses:
Research and development	136,216	142,491	112,387
Sales and marketing	271,944	311,883	314,223
General and administrative	112,209	108,001	118,103
Impairment of long-lived assets	11,034	6,380	0
Total operating expenses	531,403	568,755	544,713
Loss from operations	(27,603)	(66,292)	(154,141)
Other expense, net	(36,347)	(4,044)	(21,629)
Loss before provision (benefit) for income taxes	(63,950)	(70,336)	(175,770)
Provision (benefit) for income taxes	3,642	2,807	(387)
Net loss	$ (67,592)	$ (73,143)	$ (175,383)
Net loss per share:
Basic (in dollars per share)	$ (0.56)	$ (0.63)	$ (1.55)
Diluted (in dollars per share)	$ (0.56)	$ (0.63)	$ (1.55)
Weighted average number of shares:
Basic (in shares)	121,106	115,959	113,354
Diluted (in shares)	121,106	115,959	113,354
Service revenue
Total revenue	$ 700,579	$ 710,044	$ 602,357
Total cost of revenue	192,960	198,871	195,909
Other revenue
Total revenue	28,126	33,894	35,773
Total cost of revenue	$ 31,945	$ 42,604	$ 51,649

Cover Page - USD ($) $ in Millions	12 Months Ended
Cover Page - USD ($) $ in Millions	Mar. 31, 2024	May 08, 2024	Sep. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Mar. 31, 2024
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	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 181.1
Entity Common Stock, Shares Outstanding		125,376,171
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, 2024 for the 2024 Annual Meeting of Stockholders.
Entity Central Index Key	0001023731
Amendment Flag	false
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2024

LEASES - Operating Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Operating lease expense	$ 10,934	$ 12,030	$ 13,482
Variable lease expense	$ 3,690	$ 6,378	$ 3,837

FINANCIAL STATEMENT COMPONENTS - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Property, Plant and Equipment [Line Items]
Gross	$ 238,598	$ 226,164
Less: accumulated depreciation and amortization	(185,417)	(168,293)
Total property and equipment, net	53,181	57,871
Computer equipment
Property, Plant and Equipment [Line Items]
Gross	53,788	56,106
Software development costs
Property, Plant and Equipment [Line Items]
Gross	119,314	109,590
Software licenses
Property, Plant and Equipment [Line Items]
Gross	14,562	10,175
Leasehold improvements
Property, Plant and Equipment [Line Items]
Gross	29,666	33,269
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Gross	11,675	11,994
Construction in progress
Property, Plant and Equipment [Line Items]
Gross	$ 9,593	$ 5,030

REVENUE RECOGNITION (Tables)

12 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Contract Balances

The following table provides amounts of contract assets and deferred revenue from contracts with customers (in thousands):


	March 31, 2024		March 31, 2023
Contract assets, current (component of Other current assets)	$	9,453	$	11,023
Contract assets, non-current (component of Other assets)	7,879		10,570
Deferred revenue, current	34,325		34,909
Deferred revenue, non-current	7,810		10,615

INTANGIBLE ASSETS AND GOODWILL- Schedule Of Intangibles (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 152,865	$ 152,881
Accumulated Amortization	(66,148)	(45,769)
Net Carrying Amount	86,717	107,112
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	46,454	46,461
Accumulated Amortization	(36,823)	(28,361)
Net Carrying Amount	9,631	18,100
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	105,827	105,836
Accumulated Amortization	(28,741)	(16,824)
Net Carrying Amount	77,086	89,012
Trade names and domains
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	584	584
Accumulated Amortization	(584)	(584)
Net Carrying Amount	$ 0	$ 0

FINANCIAL STATEMENT COMPONENTS - Schedule of Allowance for Credit Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Credit Losses
Beginning balance	$ (3,644)	$ (3,373)
Provision (reserve)	(1,969)	(3,255)
Recoveries (Write-offs)	2,867	2,984
Ending balance	(2,746)	(3,644)
Sales Reserves
Beginning balance	(3,218)	(5,527)
Provision (reserve)	(3,581)	(3,421)
Recoveries (Write-offs)	4,297	5,730
Ending balance	$ (2,502)	$ (3,218)

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY

12 Months Ended

Mar. 31, 2024

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, 2024, 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. In February 2024, the 2017 Plan was further amended to allow for an additional 0.8 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, 2024, 0.2 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, 2024, 2.6 million shares remained available for future grants under the 2022 Plan.

Stock-Based Compensation

The following table presents stock-based compensation expense (in thousands):


	Years Ended March 31,
	2024		2023		2022
Cost of service revenue	$	4,993	$	9,236	$	8,815
Cost of other revenue	1,918		3,531		4,717
Research and development	24,112		29,581		32,655
Sales and marketing	15,271		24,921		47,202
General and administrative	15,616		22,267		39,942
Total	$	61,910	$	89,536	$	133,331

Stock Options

There were no options exercised in the year ended March 31, 2024. The options cancelled in the years ended March 31, 2024, 2023 and 2022, were 0.3 million, 0.2 million and 31.0 thousand, respectively. The options outstanding as of March 31, 2024, 2023 and 2022, were 0.4 million, 0.7 million and 0.9 million, respectively. The total intrinsic value of options exercised in the years ended March 31, 2023, and 2022, was $40.0 thousand and $15.3 million, respectively.

As of March 31, 2024, there was no unrecognized compensation cost related to stock options.

The Company did not grant any stock options during fiscal years 2024, 2023, or 2022.

Stock Purchase Rights

There were no activities related to stock purchase rights during the years ended March 31, 2024, 2023, and 2022.

As of March 31, 2024, 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, 2024, 2023, and 2022 (shares in thousands):


	Number of Shares	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (in Years)
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
Granted	7,186	3.85
Vested and released	(7,613)	8.87
Forfeited	(2,241)	7.13
Balance at March 31, 2024	10,325	$	5.36	1.75

As of March 31, 2024, there was $38.6 million of total unrecognized compensation cost related to RSUs, which is expected to be recognized over a weighted average of 1.75 years.

Performance Stock Units

PSUs are issued to a group of executives with vesting that is contingent on a combination of stock performance and continued service. The PSUs generally vest over periods ranging from one to four years based on Total Shareholder Return ("TSR"), as measured relative to specified market indices during the period from grant date through vesting date, or on the achievement of specific pre-established absolute stock price hurdles. For PSU awards that allow for performance above or below target, actual PSU vesting amounts are based on performance measured against pre-established threshold, target and maximum performance levels, based either on relative TSR performance or achievement of specific pre-established absolute stock price hurdles. 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, 2024, 2023, and 2022 (shares in thousands):


	Number of Shares	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (in Years)
Balance at March 31, 2021	1,576	$	27.33	1.24
Granted	497	30.41
Granted for performance achievement(1)	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 achievement(1)	24	7.31
Vested and released	(128)	25.65
Forfeited	(1,151)	28.11
Balance at March 31, 2023	624	11.30		1.45
Granted	2,023	3.25


Forfeited	(116)	21.83
Balance at March 31, 2024	2,531	$	4.38	1.16

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

Total unrecognized compensation cost related to PSUs was $3.7 million as of March 31, 2024, which is expected to be recognized over a weighted average of 1.16 years.

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
2024	$	3.25	68.85%	—	68.97%	4.03%	—	4.08%
2023	$	7.05	51.96%	—	69.30%	3.15%	—	4.42%
2022	$	30.98	58.65%	—	59.67%	0.34%	—	0.40%

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 0.5 million 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 3.0 million 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 3.6 million shares, which were approved by the stockholders in July 2022 at the 2022 Annual Meeting. During fiscal 2024, 2023 and 2022, approximately 1.9 million, 1.1 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, 2024, there was approximately $2.5 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,
	2024	2023	2022
Expected volatility	75%	72%	45%
Expected dividend yield	—	—	—
Risk-free interest rate	5.26%	3.30%	0.57%
Weighted average expected term	0.8 years	0.8 years	0.8 years
Weighted average fair value of rights granted	$1.31	$2.09	$5.81

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, 2024 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 $60.0 million, in connection with the Exchange Transaction and negotiation of the Term Loan, as further described in Note 8, Convertible Senior Notes and Term Loan.

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Pay vs Performance Disclosure
Net loss	$ (67,592)	$ (73,143)	$ (175,383)

- Definition

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

+ References

+ Details

CONVERTIBLE SENIOR NOTES AND TERM LOAN (Tables)

12 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Schedule of Carrying Amount

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


	March 31, 2024		March 31, 2023
Principal	$	—	$	63,295
Unamortized debt discount and issuance costs	—		(363)
Net carrying amount	$	—	$	62,932

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


	March 31, 2024		March 31, 2023
Principal	$	225,000	$	250,000
Unamortized debt discount and issuance costs	(13,106)		(18,007)
Net carrying amount	$	211,894	$	231,993

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


	March 31, 2024		March 31, 2023
Principal	$	201,914	$	201,914
Unamortized debt discount and issuance costs	(4,118)		(5,093)
Net carrying amount	$	197,796	$	196,821

Schedule of Interest Expense

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


	Year Ended March 31,
	2024		2023		2022
Contractual interest expense	$	265	$	1,177	$	2,271
Amortization of debt discount and issuance costs	363		1,694		20,404
Total interest expense	$	628	$	2,871	$	22,675

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


	Year Ended March 31,
	2024		2023
Contractual interest expense	$	27,022	$	17,816
Amortization of debt discount and issuance costs	3,135		2,012
Total Interest expense	$	30,157	$	19,828

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


	Year Ended March 31,
	2024		2023
Contractual interest expense	$	8,065	$	4,027
Amortization of debt discount and issuance costs	974		548
Total interest expense	$	9,039	$	4,575

- 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

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

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Income Tax Contingency [Line Items]
Provision (benefit) for income taxes	$ 3,642	$ 2,807	$ (387)
Undistributed earnings of foreign subsidiaries	2,600	2,700	12,900
Deferred tax benefit	0	0	1,253
Deferred tax assets, valuation allowance	368,408	360,274
Operating loss carryforwards	1,118,700
Operating loss carryforwards, subject to expiration	335,500
Operating loss carryforward, indefinitely	783,200
Unrecognized tax benefits	10,811	10,113	9,850	$ 7,053
Accrued penalties and interest	200	$ 100
Domestic
Income Tax Contingency [Line Items]
Research tax credit carryforwards	16,800
State and local
Income Tax Contingency [Line Items]
Operating loss carryforwards	915,800
Research tax credit carryforwards	$ 23,400
Fuze
Income Tax Contingency [Line Items]
Deferred tax benefit			$ (1,200)

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY - Performance Stock Units Information (Details) - Performance Stock Units - $ / shares	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average share price (in dollars per share)	$ 3.25	$ 7.05	$ 30.98
Volatility factors ranging ,minimum	68.85%	51.96%	58.65%
Volatility factors ranging ,maximum	68.97%	69.30%	59.67%
Risk-free interest rate, minimum	4.03%	3.15%	0.34%
Risk-free interest rate, maximum	4.08%	4.42%	0.40%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

INTANGIBLE ASSETS AND GOODWILL - Schedule Of Future Amortization Of Intangibles (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 19,095
2026	13,896
2027	11,757
2028	11,044
2029 and thereafter	30,925
Total	$ 86,717

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Mar. 31, 2024

Accounting Policies [Abstract]

Schedule of Property, Plant and Equipment

Property and equipment

Useful Lives

Computer equipment

3 years

Furniture and fixtures

5 years

Capitalized internal-use software

7 years

Leasehold improvements

Lesser of estimated useful life or remaining lease term

Property and equipment, net consisted of the following (in thousands):


	March 31,
	2024		2023
Computer equipment	$	53,788	$	56,106
Software development costs	119,314		109,590
Software licenses	14,562		10,175
Leasehold improvements	29,666		33,269
Furniture and fixtures	11,675		11,994
Construction in progress	9,593		5,030
Total property and equipment	238,598		226,164
Less: accumulated depreciation and amortization	(185,417)		(168,293)
Total property and equipment, net	$	53,181	$	57,871

INTANGIBLE ASSETS AND GOODWILL - Changes in Carrying Amount of Goodwill by Location (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 266,863	$ 266,867
Foreign currency translation	(289)	(4)
Goodwill, ending balance	$ 266,574	$ 266,863

- 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 AND TERM LOAN - Term Loan and Warrants (Details) - USD ($) $ / shares in Units, shares in Millions	Aug. 10, 2022	Mar. 31, 2024	Mar. 31, 2023	Aug. 31, 2022	Aug. 11, 2022
Debt Instrument [Line Items]
Fair value of the warrants at issuance		$ 3,321,000	$ 5,497,000
Term Loan
Debt Instrument [Line Items]
Prepayment amount	$ 25,000,000
Prepayment fee, percentage	2.00%
Term Loan \| Loans Payable
Debt Instrument [Line Items]
Debt instrument, face value	$ 250,000,000	225,000,000	250,000,000
Unamortized debt discount and issuance costs		13,106,000	18,007,000
Debt instrument, effective interest rate	11.90%
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
Debt discount and issuance costs paid in common stock	$ 2,800,000
Warrant of shares (in shares)	3.1
Warrants and rights outstanding, 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 Notes 2028 \| Convertible Debt
Debt Instrument [Line Items]
Debt instrument, face value		201,914,000	201,914,000		$ 201,900,000
Unamortized debt discount and issuance costs		4,118,000	5,093,000
Debt instrument, effective interest rate					4.70%
Convertible Senior Notes 2024 \| Convertible Debt
Debt Instrument [Line Items]
Debt instrument, face value		0	63,295,000	$ 403,800,000
Unamortized debt discount and issuance costs		$ 0	$ 363,000
Debt instrument, effective interest rate					1.20%

CONVERTIBLE SENIOR NOTES AND TERM LOAN - Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Debt Instrument [Line Items]
Amortization of debt discount and issuance costs	$ 4,472	$ 4,254	$ 20,404
Convertible Senior Notes 2024 \| Convertible Debt
Debt Instrument [Line Items]
Contractual interest expense	265	1,177	2,271
Amortization of debt discount and issuance costs	363	1,694	20,404
Total Interest expense	628	2,871	$ 22,675
Term Loan \| Convertible Debt
Debt Instrument [Line Items]
Contractual interest expense	27,022	17,816
Amortization of debt discount and issuance costs	3,135	2,012
Total Interest expense	30,157	19,828
Convertible Notes 2028 \| Convertible Debt
Debt Instrument [Line Items]
Contractual interest expense	8,065	4,027
Amortization of debt discount and issuance costs	974	548
Total Interest expense	$ 9,039	$ 4,575

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

CONVERTIBLE SENIOR NOTES AND TERM LOAN

12 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

CONVERTIBLE SENIOR NOTES AND TERM LOAN

2024 Notes

As of March 31, 2023, the Company had $63.3 million aggregate principal amount of 0.50% convertible senior notes due 2024 (the "2024 Notes") in a private placement, including the exercise in full of the initial purchasers' option to purchase additional notes. In August 2022, the Company used the proceeds from the issuance of the Term Loan (as defined below) to fund the cash portion of an exchange of the Company’s approximately $403.8 million aggregate principal amount of the 2024 Notes for cash plus approximately $201.9 million aggregate principal amount of the 2028 Notes (as defined below), and the concurrent repurchase of approximately $60.0 million of the Company’s common stock with the counterparties to such exchange.

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. The 2024 Notes matured and were paid off in full on February 1, 2024 and the Company was in compliance with all covenants set forth in the indenture governing the 2024 Notes.

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.

On February 1, 2024, the Company paid the remaining aggregate principal of $63.3 million, and accrued interest of $0.2 million, related to the 2024 Notes, which matured on February 1, 2024.

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


	March 31, 2024		March 31, 2023
Principal	$	—	$	63,295
Unamortized debt discount and issuance costs	—		(363)
Net carrying amount	$	—	$	62,932

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:


	Year Ended March 31,
	2024		2023		2022
Contractual interest expense	$	265	$	1,177	$	2,271
Amortization of debt discount and issuance costs	363		1,694		20,404
Total interest expense	$	628	$	2,871	$	22,675

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 (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 company was permitted to prepay $25.0 million without a penalty, which it did on May 5, 2023. The prepayment penalty of 2% on additional early prepayment of principal expires August 3, 2024.

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 $3.3 million at March 31, 2024, and was recorded within Other liabilities, non-current on the 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 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 11.9%.

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


	March 31, 2024		March 31, 2023
Principal	$	225,000	$	250,000
Unamortized debt discount and issuance costs	(13,106)		(18,007)
Net carrying amount	$	211,894	$	231,993

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


	Year Ended March 31,
	2024		2023
Contractual interest expense	$	27,022	$	17,816
Amortization of debt discount and issuance costs	3,135		2,012
Total Interest expense	$	30,157	$	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 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, 2024		March 31, 2023
Principal	$	201,914	$	201,914
Unamortized debt discount and issuance costs	(4,118)		(5,093)
Net carrying amount	$	197,796	$	196,821

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


	Year Ended March 31,
	2024		2023
Contractual interest expense	$	8,065	$	4,027
Amortization of debt discount and issuance costs	974		548
Total interest expense	$	9,039	$	4,575

- 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://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

NET LOSS PER SHARE (Tables)

12 Months Ended

Mar. 31, 2024

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 (in thousands, except per share data):


	For the years ended March 31,
	2024		2023		2022
Net loss	$	(67,592)	$	(73,143)	$	(175,383)
Weighted average common shares outstanding - basic and diluted	121,106		115,959		113,354

Net loss per share - basic and diluted	$	(0.56)	$	(0.63)	$	(1.55)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

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


	For the years ended March 31,
	2024	2023	2022
Stock options	497	685	867
Restricted stock units and Performance stock units	7,396	13,617	10,401
Potential shares attributable to the ESPP	1,446	1,261	761
Warrants to purchase common stock	—	3,100	—
Total anti-dilutive shares	9,339	18,663	12,029

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Current assets:
Cash and cash equivalents	$ 116,262	$ 111,400
Restricted cash, current	356	511
Short-term investments	1,048	26,228
Accounts receivable, net	58,979	62,307
Deferred sales commission costs, current	35,933	38,048
Other current assets	35,258	34,630
Total current assets	247,836	273,124
Property and equipment, net	53,181	57,871
Operating lease, right-of-use assets	35,924	52,444
Intangible assets, net	86,717	107,112
Goodwill	266,574	266,863
Restricted cash, non-current	105	818
Deferred sales commission costs, non-current	52,859	67,644
Other assets, non-current	12,783	15,934
Total assets	755,979	841,810
Current liabilities:
Accounts payable	48,862	46,802
Accrued and other liabilities	78,102	73,740
Operating lease liabilities, current	11,295	11,504
Deferred revenue, current	34,325	34,909
Convertible senior notes, current	0	62,932
Total current liabilities	172,584	229,887
Operating lease liabilities, non-current	56,647	65,623
Deferred revenue, non-current	7,810	10,615
Convertible senior notes, non-current	197,796	196,821
Term loan	211,894	231,993
Other liabilities, non-current	7,290	6,965
Total liabilities	654,021	741,904
Commitments and contingencies (Note 7)
Stockholders' equity:
Preferred stock: $0.001 par value, 5,000,000 shares authorized, none issued and outstanding as of March 31, 2024 and 2023	0	0
Common stock: $0.001 par value, $300,000,000 shares authorized, 125,193,573 shares and $114,659,255 shares issued and outstanding at March 31, 2024 and 2023, respectively	125	115
Additional paid-in capital	973,895	905,635
Accumulated other comprehensive loss	(11,553)	(12,927)
Accumulated deficit	(860,509)	(792,917)
Total stockholders' equity	101,958	99,906
Total liabilities and stockholders' equity	$ 755,979	$ 841,810

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (67,592)	$ (73,143)	$ (175,383)
Other comprehensive income (loss), net of tax
Unrealized gain (loss) on investments in securities	280	(184)	(571)
Foreign currency translation adjustment	1,094	(4,830)	(3,149)
Comprehensive loss	$ (66,218)	$ (78,157)	$ (179,103)

- Definition

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

+ References

+ Details

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Indemnifications In the normal course of business, the Company may agree to indemnify other parties, including customers, lessors, and parties to other transactions with the Company with respect to certain matters, such as breaches of representations or covenants or intellectual property infringement or other claims made by third parties. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim. In addition, the Company has entered into indemnification agreements with its officers and directors. It is not possible to determine the maximum potential amount of the Company's exposure under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Historically, payments made by the Company under these agreements have not had a material impact on the Company's operating results, financial position, or cash flows. Under some of these agreements, however, the Company's potential indemnification liability might not have a contractual limit. Operating Leases The Company's lease obligations consist of the Company's principal facility and various leased facilities under operating lease agreements. See Note 6, 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. During the year ended March 31, 2024, the Company entered into a $28.1 million noncancellable three-year hosting service contract. During the three months ended December 31, 2023, the Company placed an additional $1.0 million order to the existing noncancellable three-year hosting service contract. The updated commitment of $11.4 million remains due during fiscal 2025 and $10.1 million will be due during fiscal 2026. The total contractual minimum commitments were approximately $61.2 million as of March 31, 2024. 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, 2024. 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. 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 conducts periodic reviews of the taxability of its services with respect to sales, use, telecommunications or other similar indirect taxes and adjusts its accrual when facts relating to specific exposures warrant such adjustment. 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. Based on such assessments, as of March 31, 2024 and 2023, the Company had accrued contingent indirect tax liabilities of $19.2 million and $13.5 million, respectively. FCC Investigation of 8x8, Inc. and Fuze, Inc. On November 17, 2023, the Company received a letter of inquiry from the Enforcement Bureau of the Federal Communications Commission (the “FCC”) requesting certain information and supporting documents related to an investigation of potential violations by 8x8 and Fuze in connection with certain prior period regulatory filings and payments. The Company has cooperated with the FCC in this matter and responded to the letter of inquiry. If the FCC were to pursue separate action against the Company, the FCC could seek to fine or impose regulatory penalties or civil liability on the Company. The Company received a Universal Service Administrative Company ("USAC") letter dated February 1, 2024 rejecting Fuze’s previously filed 499-A returns for calendar years 2021 and 2022 and informing the Company that USAC would apply the safe harbor to Fuze revenues for those years for assessing Universal Service Fund ("USF") payments. The Company subsequently received an invoice from USAC dated March 22, 2024 in the amount of $14.9 million for additional USF fees owed for those calendar years by Fuze, Inc. The Company has since refiled the 499-A returns for calendar years 2021 and 2022 for Fuze, Inc. and recorded an additional liability of $5.6 million, which the Company has since paid subsequent to March 31, 2024. The Company submitted an appeal to USAC of the remaining amount of the invoice dated March 22, 2024. The Company's appeal is ongoing and the Company continues to cooperate with the FCC's investigation of this matter.

INCOME TAXES - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Balance at beginning of year	$ 10,113	$ 9,850	$ 7,053
Gross increases - tax positions in prior period	1,457	163	1,918
Gross increases - tax positions related to the current year	431	158	951
Gross decreases - tax positions in prior period	(337)	0	0
Settlements	(287)	0	(63)
Lapse of statute of limitations	(512)	(34)	(19)
Currency	(54)	(24)
Currency			10
Balance at end of year	$ 10,811	$ 10,113	$ 9,850

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY - Stock-Based Compensation Expense By Statement Of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	$ 61,910	$ 89,536	$ 133,331
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	24,112	29,581	32,655
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	15,271	24,921	47,202
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	15,616	22,267	39,942
Service \| Cost of Sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	4,993	9,236	8,815
Other revenue \| Cost of Sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	$ 1,918	$ 3,531	$ 4,717

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) $ in Thousands			12 Months Ended
	Jan. 01, 2005	Dec. 31, 2004	Mar. 31, 2024 USD ($) reportingUnit	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Aug. 11, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Impairment of capitalized software			$ 0	$ 3,729	$ 0
Impairment of right-of-use assets			$ 11,034	2,651	0
Capitalized contract cost, amortization period			5 years
Impairment of long lived assets			$ 11,000
Advertising expense			$ 1,000	$ 1,500	$ 3,400
Number of reporting units \| reportingUnit			1
Restricted stock units and Performance stock units \| New hires
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rate per year			0.333
Restricted stock units and Performance stock units \| Remainder
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rate per year			0.125
Restricted stock units and Performance stock units \| Share-based Compensation Award, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			2 years
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 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Debt instrument, interest rate				0.50%
Convertible Debt \| Convertible Notes 2028
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Debt instrument, interest rate						4.00%
Office space
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Impairment of right-of-use assets			$ 9,900	$ 1,100
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			7 years
Renewal term			5 years