0001023731-21-000035 | 10-Q | XBRL Viewer

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FAIR VALUE MEASUREMENTS - Narrative (Details) $ in Millions	Dec. 31, 2020 USD ($)
Convertible Debt \| Initial Notes \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value	$ 527.8

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Current assets:
Cash and cash equivalents	$ 106,877	$ 137,394
Restricted cash, current	6,996	10,376
Short-term investments	41,738	33,458
Accounts receivable, net	50,404	37,811
Deferred sales commission costs, current	28,684	22,444
Other current assets	39,565	35,679
Total current assets	274,264	277,162
Property and equipment, net	94,480	94,382
Operating lease, right-of-use assets	70,443	78,963
Intangible assets, net	18,426	24,001
Goodwill	132,067	128,300
Restricted cash, non-current	8,562	8,641
Long-term investments	3,878	16,083
Deferred sales commission costs, non-current	69,859	53,307
Other assets	20,832	19,802
Total assets	692,811	700,641
Current liabilities:
Accounts payable	32,337	40,261
Accrued compensation	29,993	22,656
Accrued taxes	14,299	10,251
Operating lease liabilities, current	12,691	5,875
Deferred revenue, current	18,015	7,105
Other accrued liabilities	20,419	37,277
Total current liabilities	127,754	123,425
Operating lease liabilities, non-current	85,379	92,452
Convertible senior notes, net	304,111	291,537
Other liabilities, non-current	8,164	2,496
Total liabilities	525,408	509,910
Commitments and contingencies (Note 8)
Stockholders' equity:
Common stock	107	103
Additional paid-in capital	716,820	625,474
Accumulated other comprehensive loss	(3,503)	(12,176)
Accumulated deficit	(546,021)	(422,670)
Total stockholders' equity	167,403	190,731
Total liabilities and stockholders' equity	$ 692,811	$ 700,641

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit	Cumulative effect, period of adoption, adjustment	Cumulative effect, period of adoption, adjustment Accumulated Deficit
Beginning balance (in shares) at Mar. 31, 2019		96,119,888
Beginning balance at Mar. 31, 2019	$ 249,390	$ 96	$ 506,949	$ (7,353)	$ (250,302)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock plans, less withholding (in shares)		451,308
Issuance of common stock under stock plans, less withholding	1,494	$ 1	1,493
Stock-based compensation expense	14,059		14,059
Unrealized investment gain/loss	121			121
Foreign currency translation adjustment	(652)			(652)
Net loss	(34,265)				(34,265)
Ending balance (in shares) at Jun. 30, 2019		96,571,196
Ending balance at Jun. 30, 2019	230,147	$ 97	522,501	(7,884)	(284,567)
Beginning balance (in shares) at Mar. 31, 2019		96,119,888
Beginning balance at Mar. 31, 2019	249,390	$ 96	506,949	(7,353)	(250,302)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unrealized investment gain/loss	106
Foreign currency translation adjustment	682
Net loss	(122,268)
Ending balance (in shares) at Dec. 31, 2019		100,784,960
Ending balance at Dec. 31, 2019	219,491	$ 101	598,525	(6,565)	(372,570)
Beginning balance (in shares) at Jun. 30, 2019		96,571,196
Beginning balance at Jun. 30, 2019	230,147	$ 97	522,501	(7,884)	(284,567)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock plans, less withholding (in shares)		1,761,483
Issuance of common stock under stock plans, less withholding	(788)	$ 2	(790)
Stock-based compensation expense	17,867		17,867
Issuance of common stock related to acquisitions (in shares)		1,476,009
Issuance of common stock related to acquisition	35,839	$ 1	35,838
Unrealized investment gain/loss	(3)			(3)
Foreign currency translation adjustment	(3,253)			(3,253)
Net loss	(40,932)				(40,932)
Ending balance (in shares) at Sep. 30, 2019		99,808,688
Ending balance at Sep. 30, 2019	238,877	$ 100	575,416	(11,140)	(325,499)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock plans, less withholding (in shares)		976,272
Issuance of common stock under stock plans, less withholding	140	$ 1	139
Stock-based compensation expense	19,881		19,881
Equity component of convertible senior notes, net of issuance costs	3,089		3,089
Unrealized investment gain/loss	(12)			(12)
Foreign currency translation adjustment	4,587			4,587
Net loss	(47,071)				(47,071)
Ending balance (in shares) at Dec. 31, 2019		100,784,960
Ending balance at Dec. 31, 2019	219,491	$ 101	598,525	(6,565)	(372,570)
Beginning balance (in shares) at Mar. 31, 2020		103,178,621
Beginning balance at Mar. 31, 2020	190,731	$ 103	625,474	(12,176)	(422,670)	$ (2,800)	$ (2,800)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock plans, less withholding (in shares)		688,414
Issuance of common stock under stock plans, less withholding	(66)	$ 1	(67)
Stock-based compensation expense	23,118		23,118
Issuance of common stock related to acquisition	8,489		8,489
Unrealized investment gain/loss	422			422
Foreign currency translation adjustment	885			885
Net loss	(41,913)				(41,913)
Ending balance (in shares) at Jun. 30, 2020		103,867,035
Ending balance at Jun. 30, 2020	178,866	$ 104	657,014	(10,869)	(467,383)
Beginning balance (in shares) at Mar. 31, 2020		103,178,621
Beginning balance at Mar. 31, 2020	190,731	$ 103	625,474	(12,176)	(422,670)	$ (2,800)	$ (2,800)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unrealized investment gain/loss	306
Foreign currency translation adjustment	8,367
Net loss	(120,551)
Ending balance (in shares) at Dec. 31, 2020		107,135,983
Ending balance at Dec. 31, 2020	167,403	$ 107	716,820	(3,503)	(546,021)
Beginning balance (in shares) at Jun. 30, 2020		103,867,035
Beginning balance at Jun. 30, 2020	178,866	$ 104	657,014	(10,869)	(467,383)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock plans, less withholding (in shares)		2,119,196
Issuance of common stock under stock plans, less withholding	4,708	$ 2	4,706
Stock-based compensation expense	26,396		26,396
Unrealized investment gain/loss	(43)			(43)
Foreign currency translation adjustment	2,945			2,945
Net loss	(38,413)				(38,413)
Ending balance (in shares) at Sep. 30, 2020		105,986,231
Ending balance at Sep. 30, 2020	174,459	$ 106	688,116	(7,967)	(505,796)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock plans, less withholding (in shares)		1,149,752
Issuance of common stock under stock plans, less withholding	1,347	$ 1	1,346
Stock-based compensation expense	27,358		27,358
Unrealized investment gain/loss	(73)			(73)
Foreign currency translation adjustment	4,537			4,537
Net loss	(40,225)				(40,225)
Ending balance (in shares) at Dec. 31, 2020		107,135,983
Ending balance at Dec. 31, 2020	$ 167,403	$ 107	$ 716,820	$ (3,503)	$ (546,021)

STOCK-BASED COMPENSATION - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Stock Award Rollforward
Stock Awards outstanding at the beginning of the period (in shares)	9,191	7,820
Stock Awards granted (in shares)	6,742	5,886
Stock Awards vested (in shares)	(3,530)	(2,860)
Stock Awards canceled and forfeited (in shares)	(969)	(1,056)
Stock Awards outstanding at the end of the period (in shares)	11,434	9,790
Weighted-average fair value of grants during the period (in dollars per share)	$ 18.97	$ 22.35
Weighted-average remaining recognition period (in years)	1 year 10 months 17 days	2 years 1 month 17 days
Total unrecognized compensation expense at period-end	$ 157,416	$ 128,463
Stock Option Rollforward
Stock options outstanding at the beginning of the period (in shares)	2,274	3,114
Options exercised (in shares)	(175)	(391)
Options canceled and forfeited (in shares)	(28)	(55)
Stock options outstanding at the end of the period (in shares)	2,071	2,668
Total intrinsic value of options exercised during the period	$ 1,761	$ 4,844
Weighted-average remaining recognition period (in years)	1 year 3 months 29 days	2 years 1 month 28 days
Total unrecognized compensation expense at period-end	$ 558	$ 1,102

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION AND CONSOLIDATION The accompanying condensed consolidated financial statements are unaudited and have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") and regulations of the Securities and Exchange Commission ("SEC") regarding interim financial reporting. The March 31, 2020 year-end condensed consolidated balance sheet disclosures in this document were derived from audited consolidated financial statements and do not include all disclosures required by GAAP. These condensed consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements as of and for the fiscal year ended March 31, 2020, and notes thereto included in the Company's fiscal 2020 Annual Report on Form 10-K ("Form 10-K"). There were no material changes during the three and nine months ended December 31, 2020, to our significant accounting policies as described in the Company's Form 10-K for the fiscal year ended March 31, 2020, except for the accounting policies described herein that were updated as a result of adopting Accounting Standards Update ("ASU") 2016-03, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, further amended by various ASUs, and ASU 2018-15, Intangibles-Goodwill and Other-Internal Use Software (Subtopic 350-40). The results of operations and cash flows for the periods included in these condensed consolidated financial statements are not necessarily indicative of the results to be expected for any future periods or the entire fiscal year. The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The Company conducts its operations through one reportable segment. In the opinion of the Company's management, these condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair statement of the Company's financial position, results of operations, and cash flows for the periods presented. USE OF ESTIMATES The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and equity, and disclosure of contingent assets and liabilities at the date of the condensed 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 allowance for credit losses, returns reserve for expected customer credits or cancellations, fair value of and/or evaluation for impairment of goodwill and other long-lived assets, capitalization of internally developed software, benefit period for deferred sales commission costs, stock-based compensation expense, discount rate used to calculate operating lease liabilities, income and sales tax liabilities, fair value of convertible senior notes, 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. RECLASSIFICATIONS AND OTHER CHANGES During the fourth quarter of fiscal 2020, the Company determined that presenting service revenue as revenue from the Company's core communication services would provide transparency and clarity to the users of the financial statements. As such, the Company reclassified certain revenue and cost of revenue on its condensed consolidated statement of operations for the three and nine months ended December 31, 2019. Professional services revenue and cost of professional services revenue previously reported in service revenue and cost of service revenue are now reported in other revenue and cost of other revenue. Product revenue and cost of product revenue are also now reported in other revenue and cost of other revenue. The reclassifications did not have any impact on total revenue, consolidated net loss, or cash flows. In addition, certain prior year amounts in the condensed consolidated statements of cash flows have been reclassified to conform with the current year presentation. RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS In June 2016, the Financial Accounting Standards Board ("FASB") issued ASU 2016‑13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, as amended, which replaces the existing impairment model with a forward-looking expected loss method. Under this update, on initial recognition and at each reporting period, an entity is required to recognize an allowance that reflects the entity's current estimate of credit losses expected to be incurred over the life of the financial instrument. For trade receivables, loans, and other financial instruments, an entity is required to use a forward-looking expected loss model to recognize credit losses that are probable. The Company adopted ASU 2016-13 on a modified retrospective basis as of April 1, 2020, through a cumulative-effect adjustment to the Company's beginning accumulated deficit balance; the impact of the adoption was not material to the Company's consolidated financial statements. Credit losses are not expected to be significant based on historical collection trends, the financial condition of the Company’s customers, and external market factors, including those related to the COVID-19 pandemic. The Company will continue to actively monitor the impact of the recent COVID-19 pandemic on expected credit losses. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820), which makes modifications to disclosure requirements on fair value measurements. The Company adopted ASU 2018-13 on April 1, 2020. The impact of the adoption was immaterial to the Company's consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal Use Software (Subtopic 350-40), which reduces complexity for the accounting for costs of implementing a cloud computing service arrangement. The Company adopted this guidance on a prospective basis effective April 1, 2020. The impact of the adoption was immaterial to the Company's consolidated financial statements. RECENT ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740), which enhances and simplifies various aspects of the income tax accounting guidance, including requirements such as tax basis step-up in goodwill obtained in a transaction that is not a business combination, ownership changes in investments, and interim-period accounting for enacted changes in tax law. The amendment will be effective for public companies with fiscal years beginning after December 15, 2020, which is fiscal 2022 for the Company; early adoption is permitted. The Company is currently assessing the impact of this pronouncement to its consolidated financial statements. In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40), which simplifies accounting for convertible instruments by eliminating two of the three accounting models available for convertible debt instruments and convertible preferred stock. The guidance also addresses how convertible instruments are accounted for in the diluted earnings per share calculation. The guidance is effective for fiscal years beginning after December 15, 2021, which is fiscal 2023 for the Company; early adoption is permitted. The Company is currently assessing the impact of this pronouncement to its consolidated financial statements.

CONVERTIBLE SENIOR NOTES AND CAPPED CALL - Carrying Amount of the Liability Component (Details) - Convertible Debt - Aggregate Notes - USD ($)	Dec. 31, 2020	Mar. 31, 2020	Dec. 01, 2019
Debt Instrument [Line Items]
Principal	$ 362,500,000	$ 362,500,000	$ 362,500,000
Unamortized debt discount	(57,587,000)	(69,987,000)
Unamortized issuance costs	(802,000)	(976,000)
Net carrying amount	$ 304,111,000	$ 291,537,000

CONVERTIBLE SENIOR NOTES AND CAPPED CALL

9 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

CONVERTIBLE SENIOR NOTES AND CAPPED CALL

Convertible Senior Notes

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

In November 2019, the Company issued an additional $75.0 million aggregate principal amount of 0.50% convertible senior notes (the "Additional Notes," and together with the Initial Notes, the "Notes") due 2024 in a registered offering under the same indenture as the Initial Notes. The total net proceeds from the Additional Notes, after deducting underwriting discounts, debt issuance costs, and costs of the capped call transactions described below, were approximately $64.6 million. The Additional Notes constitute a further issuance of, and form a single series with, the Initial Notes. Immediately after giving effect to the issuance of the Additional Notes, the Company had $362.5 million aggregate principal amount of convertible senior notes.

The Notes are senior unsecured obligations of the Company and interest is payable semiannually in arrears on February 1 and August 1 of each year, beginning on February 1, 2020. The Notes will mature on February 1, 2024, unless earlier repurchased, redeemed, or converted.

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

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

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

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

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

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

On or after October 1, 2023, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert all or any portion of their Notes, regardless of the foregoing circumstances. Upon conversion, the Company will satisfy its conversion obligation by paying or delivering, as the case may be, cash, shares of common stock, or a combination of cash and shares of common stock, at the Company's discretion. The Company’s current intent is to settle the principal amount of the Notes in cash upon conversion. During the nine months ended December 31, 2020, the conditions permitting conversion of the Notes were not met.

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

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

The net carrying amount of the liability component of the Notes was as follows (in thousands):


	December 31, 2020		March 31, 2020
Principal	$	362,500	$	362,500
Unamortized debt discount	(57,587)		(69,987)
Unamortized issuance costs	(802)		(976)
Net carrying amount	$	304,111	$	291,537

Interest expense related to the Notes was as follows (in thousands):


	Three Months Ended December 31,				Nine Months Ended December 31,
	2020		2019		2020		2019
Contractual interest expense	$	453	$	400	$	1,359	$	1,119
Amortization of debt discount	4,198		3,551		12,399		9,926
Amortization of issuance costs	59		40		174		92
Total interest expense	$	4,710	$	3,991	$	13,932	$	11,137

Capped Call

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

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Jul. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	May 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares that were earned on market based conditions (in shares)				3,530,000	2,860,000
Weighted-average fair value of grants during the period (in dollars per share)				$ 18.97	$ 22.35
Unamortized stock-based compensation expense		$ 157,416,000	$ 128,463,000	$ 157,416,000	$ 128,463,000
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility factors ranging				55.66%
Risk free rate ranging				0.15%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility factors ranging				60.68%
Risk free rate ranging				0.18%
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards granted (in shares)				5,700,000
Weighted-average fair value of grants during the period (in dollars per share)				$ 17.12
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards granted (in shares)				1,000,000.0
Number of shares that were earned on market based conditions (in shares)				28,467
Vesting performance period				100.00%
Percentage of shares earned if performance measures are met				100.00%
Change in number of shares earned				2.00%
Maximum percentage of awards to be earned				200.00%
Weighted-average fair value of grants during the period (in dollars per share)				$ 29.07
Performance Shares \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				1 year
Total shareholder return performance, lowest percentage to still earn awards				(30.00%)
Performance Shares \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				3 years
Employee Stock Purchase Plan \| Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued under employee stock purchase plan (in shares)	329,430
Unamortized stock-based compensation expense		$ 1,500,000		$ 1,500,000
Weighted average period of recognition for unrecognized compensation expense				3 months 25 days
Number of shares reserved for future issuance (in shares)		3,252,882		3,252,882
2017 Repurchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized repurchase amount						$ 25,000,000.0
Remaining authorized repurchase amount		$ 7,100,000		$ 7,100,000
Stock repurchased during period (in shares)		0	0	0	0

LEASES (Tables)

9 Months Ended

Dec. 31, 2020

Leases [Abstract]

Schedule of Assets and Liabilities, Leases

The following table provides balance sheet information related to leases as of December 31, 2020 (in thousands):


	December 31, 2020		March 31, 2020
Assets
Operating lease, right-of-use assets	$	70,443	$	78,963

Liabilities
Operating lease liabilities, current	$	12,691	$	5,875
Operating lease liabilities, non-current	85,379		92,452
Total operating lease liabilities	$	98,070	$	98,327

Schedule of Lease, Cost

The components of lease expense were as follows (in thousands):


	Three Months Ended December 31,				Nine Months Ended December 31,
	2020		2019		2020		2019
Operating lease expense	$	3,886	$	4,436	$	11,469	$	10,677
Variable lease expense	$	729	$	434	$	2,368	$	872

The following table presents supplemental information for the nine months ended December 31, 2020 (in thousands, except for weighted average):


Weighted average remaining lease term						8.5 years
Weighted average discount rate						4.0%

Schedule of Lessee, Operating Leases, Liability, Maturity

The following table presents future payments of lease liabilities under the Company's non-cancellable operating leases as of December 31, 2020 (in thousands):


Remainder of 2021	$	3,586
2022	16,382
2023	15,182
2024	11,835
2025	11,497
Thereafter	58,190
Total lease payments	116,672
Less: imputed interest	(18,602)
Present value of lease liabilities	$	98,070

LEASES - Supplemental Information (Details)	Dec. 31, 2020
Leases [Abstract]
Weighted average remaining lease term	8 years 6 months
Weighted average discount rate	4.00%

INTANGIBLE ASSETS AND GOODWILL (Tables)

9 Months Ended

Dec. 31, 2020

Intangible Assets, Net (Including Goodwill) [Abstract]

Schedule of Carrying Value of Intangible Assets

The carrying value of intangible assets consisted of the following (in thousands):


	December 31, 2020						March 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Developed technology	$	33,969	$	(20,391)	$	13,578	$	33,932	$	(16,312)	$	17,620
Customer relationships	11,927		(7,079)		4,848		11,409		(5,412)		5,997
Trade and domain names	989		(989)		—		983		(599)		384
Total acquired identifiable intangible assets	$	46,885	$	(28,459)	$	18,426	$	46,324	$	(22,323)	$	24,001

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

As of December 31, 2020, the expected future amortization expense of the intangible assets was as follows (in thousands):


Remainder of 2021	$	1,296
2022	4,708
2023	3,156
2024	2,851
2025	2,851
Thereafter	3,564
Total	$	18,426

Schedule of Goodwill

The following table provides a summary of the change in the carrying amount of goodwill (in thousands):


Balance at March 31, 2020	$	128,300
Foreign currency translation adjustments	3,767
Balance at December 31, 2020	$	132,067

CONVERTIBLE SENIOR NOTES AND CAPPED CALL - Interest Expense (Details) - Convertible Debt - Aggregate Notes - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Contractual interest expense	$ 453	$ 400	$ 1,359	$ 1,119
Amortization of debt discount	4,198	3,551	12,399	9,926
Amortization of issuance costs	59	40	174	92
Total interest expense	$ 4,710	$ 3,991	$ 13,932	$ 11,137

NET LOSS PER SHARE - Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Net loss	$ (40,225)	$ (38,413)	$ (41,913)	$ (47,071)	$ (40,932)	$ (34,265)	$ (120,551)	$ (122,268)
Weighted average common shares outstanding - basic and diluted (in shares)	106,641			99,922			104,961	99,082
Net loss per share:
Basic and diluted (in dollars per share)	$ (0.38)			$ (0.47)			$ (1.15)	$ (1.23)

- Definition

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

+ References

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

NET LOSS PER SHARE - Antidilutive Securities (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	14,034	12,845	14,034	12,845
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	2,071	2,668	2,071	2,668
Stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	11,434	9,790	11,434	9,790
Potential shares to be issued from ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	529	387	529	387

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Mar. 31, 2020
State And Local Taxes And Surcharges
Loss Contingencies [Line Items]
Accrued contingent indirect tax liabilities	$ 4.6	$ 4.5

NET LOSS PER SHARE

9 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

NET LOSS PER SHARE

The following table summarizes the computation of basic and diluted net loss per share (in thousands, except per share data):


	Three Months Ended December 31,				Nine Months Ended December 31,
	2020		2019		2020		2019
Net loss	$	(40,225)	$	(47,071)	$	(120,551)	$	(122,268)
Weighted average common shares outstanding - basic and diluted	106,641		99,922		104,961		99,082

Net loss per share:
Basic and diluted	$	(0.38)	$	(0.47)	$	(1.15)	$	(1.23)

The following shares attributable to outstanding stock options and stock awards were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive (in thousands):


	Three Months Ended December 31,		Nine Months Ended December 31,
	2020	2019	2020	2019
Stock options	2,071	2,668	2,071	2,668
Stock awards	11,434	9,790	11,434	9,790
Potential shares to be issued from ESPP	529	387	529	387
Total anti-dilutive shares	14,034	12,845	14,034	12,845

CONVERTIBLE SENIOR NOTES AND CAPPED CALL - Narrative (Details) $ / shares in Units, shares in Millions	1 Months Ended
	Nov. 30, 2019 USD ($)	Feb. 28, 2019 USD ($) day $ / shares shares	Dec. 31, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 01, 2019 USD ($)
Initial Notes
Debt Instrument [Line Items]
Payments for capped call transactions		$ 33,700,000
Additional Notes
Debt Instrument [Line Items]
Payments for capped call transactions	$ 9,300,000
Aggregate Notes
Debt Instrument [Line Items]
Debt instrument, strike price per share (in dollars per share) \| $ / shares		$ 25.68
Convertible Debt \| Initial Notes
Debt Instrument [Line Items]
Debt instrument, face value		$ 287,500,000
Debt instrument, interest rate		0.50%
Proceeds from issuance of debt		$ 245,800,000
Convertible Debt \| Additional Notes
Debt Instrument [Line Items]
Debt instrument, face value	$ 75,000,000.0
Debt instrument, interest rate	0.50%
Proceeds from issuance of debt	$ 64,600,000
Convertible Debt \| Aggregate Notes
Debt Instrument [Line Items]
Debt instrument, face value			$ 362,500,000	$ 362,500,000	$ 362,500,000
Debt instrument, convertible, conversion ratio		0.0389484
Common stock, par value per share (in dollars per share) \| $ / shares		$ 0.001
Debt instrument, convertible, conversion price (in dollars per share) \| $ / shares		$ 25.68
Debt instrument, convertible, threshold trading days \| day		20
Debt instrument, convertible, threshold consecutive trading days \| day		30
Debt instrument, convertible, threshold percentage of stock price trigger		130.00%
Debt instrument, convertible, measurement period \| day		5
Debt instrument, convertible, threshold consecutive trading days preceding measurement period \| day		10
Debt instrument, threshold percentage of sales price per share		98.00%
Debt instrument, redemption price, percentage		100.00%
Debt instrument, initial cap price per share (in dollars per share) \| $ / shares		$ 39.50
Convertible Debt \| Aggregate Notes \| Call Option
Debt Instrument [Line Items]
Option indexed to issuer's equity, indexed shares (in shares) \| shares		14.1

LEASES

9 Months Ended

Dec. 31, 2020

Leases [Abstract]

LEASES

Operating Leases

The Company primarily leases facilities for office and data center space for its U.S. and international locations under non-cancellable operating leases. The leases expire at various dates through 2030.

The following table provides balance sheet information related to leases as of December 31, 2020 (in thousands):


	December 31, 2020		March 31, 2020
Assets
Operating lease, right-of-use assets	$	70,443	$	78,963

Liabilities
Operating lease liabilities, current	$	12,691	$	5,875
Operating lease liabilities, non-current	85,379		92,452
Total operating lease liabilities	$	98,070	$	98,327

The components of lease expense were as follows (in thousands):


	Three Months Ended December 31,				Nine Months Ended December 31,
	2020		2019		2020		2019
Operating lease expense	$	3,886	$	4,436	$	11,469	$	10,677
Variable lease expense	$	729	$	434	$	2,368	$	872

Short-term lease expense was immaterial for the three and nine months ended December 31, 2020 and 2019.

Cash outflows from operating leases were $6.3 million and $7.2 million, respectively, for the nine months ended December 31, 2020 and 2019.

The following table presents supplemental information for the nine months ended December 31, 2020 (in thousands, except for weighted average):


Weighted average remaining lease term						8.5 years
Weighted average discount rate						4.0%

The following table presents future payments of lease liabilities under the Company's non-cancellable operating leases as of December 31, 2020 (in thousands):


Remainder of 2021	$	3,586
2022	16,382
2023	15,182
2024	11,835
2025	11,497
Thereafter	58,190
Total lease payments	116,672
Less: imputed interest	(18,602)
Present value of lease liabilities	$	98,070

Lease Assignment

In the fourth quarter of fiscal 2018, the Company entered into a 132-month lease agreement (the "Agreement") with CAP Phase I, a Delaware limited liability company (the "Landlord"), to rent approximately 162,000 square feet of office space in a new building in San Jose, California. The lease term began on January 1, 2019. On April 30, 2019, the Company entered into an assignment and assumption (the "Assignment") of the Agreement with the Landlord, and Roku Inc., a Delaware corporation ("Roku"), whereby the Company assigned to Roku the Agreement. Pursuant to the Assignment, the Company expects to be released from all of its obligations under the lease and related standby letter of credit by the end of the Company’s fiscal year ending March 31, 2022, or shortly thereafter. The Company also expects to receive the reimbursement of base rent and direct expenses from Roku by the end of the Company’s fiscal year ending March 31, 2021, in accordance with the Assignment.

Amounts related to the Agreement are not included in the right-of-use asset or lease liabilities as of December 31, 2020 or March 31, 2020. The remaining obligations related to the Assignment of $2.8 million and the termination fee of $0.8 million are recorded in Other accrued liabilities and Other liabilities, non-current, respectively, and the expected receivable of $6.4 million due in February 2021 is recorded in Other current assets, on the Company's Condensed Consolidated Balance Sheets as of both December 31, 2020 and March 31, 2020.

REVENUE RECOGNITION (Tables)

9 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Schedule of Contract Balances

The following table provides information about receivables, contract assets, and deferred revenues from contracts with customers (in thousands):


	December 31, 2020		March 31, 2020
Accounts receivable, net	$	50,404	$	37,811
Contract assets, current, net (included in Other current assets)	$	12,002	$	10,425
Contract assets, non-current, net (included in Other assets)	$	15,688	$	13,698
Deferred revenue, current	$	18,015	$	7,105
Deferred revenue, non-current (included in Other liabilities, non-current)	$	2,768	$	1,119

Changes in the contract assets and deferred revenue balances during the nine months ended December 31, 2020 are as follows (in thousands):


	December 31, 2020		March 31, 2020		Change
Contract assets	$	27,690	$	24,123	$	3,567
Deferred revenue	$	20,783	$	8,224	$	12,559

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Other Commitments, Indemnifications, and Contingencies From time to time, the Company receives inquiries from federal and various state and municipal taxing agencies with respect to the remittance of sales, use, telecommunications, excise, payroll, and income taxes. Several jurisdictions are currently conducting tax audits of the Company's records. The Company collects taxes from its customers or has accrued for taxes that it believes are required to be remitted. Amounts that have been remitted have historically been within the accruals established by the Company. The Company adjusts its accrued taxes when facts relating to specific exposures warrant such adjustment. The Company continues to conduct periodic review of the taxability of certain of its services that may be subject to sales, use, telecommunications, or other similar indirect taxes in certain jurisdictions. As of December 31, 2020 and March 31, 2020, the Company had accrued contingent indirect tax liabilities of $4.6 million and $4.5 million, respectively. Legal Proceedings The Company, from time to time, may be involved in a variety of claims, lawsuits, investigations, and other proceedings, including patent infringement claims, employment litigation, regulatory compliance matters, and contractual disputes, that can arise in the normal course of the Company's operations. The Company recognizes a provision when management believes information available prior to the issuance of the financial statements indicates it is probable a loss has been incurred as of the date of the financial statements and the amount of loss can be reasonably estimated. The Company adjusts the amount of the provision to reflect the impact of negotiations, settlements, rulings, advice of legal counsel, and other information and events pertaining to a particular case. Legal costs are expensed as incurred. As of December 31, 2020, the Company does not have any material provisions for any such lawsuits, claims and proceedings and believes it is not probable that a loss had been incurred. Litigation is inherently unpredictable and subject to significant uncertainties. While there can be no assurances that favorable final outcomes will be obtained, the Company believes it has valid defenses with respect to legal matters pending against it. Future litigation could be costly to defend, could impose significant burdens on employees and cause the diversion of management's attention, and could, upon resolution, have a material adverse effect on the Company's business, results of operations, financial condition, and cash flows.

INCOME TAXES (Details)	3 Months Ended		9 Months Ended
INCOME TAXES (Details)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Effective income tax rate	(0.80%)	(0.60%)	(0.60%)	(0.60%)

INTANGIBLE ASSETS AND GOODWILL - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Intangible Assets, Net (Including Goodwill) [Abstract]
Remainder of 2021	$ 1,296
2022	4,708
2023	3,156
2024	2,851
2025	2,851
Thereafter	3,564
Net Carrying Amount	$ 18,426	$ 24,001

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents	$ 106,877	$ 137,394	$ 184,794
Accumulated gross unrealized gain, before tax	121	154
Accumulated gross unrealized loss, before tax	(2)	(341)
Cash, cash equivalents and debt securities available-for-sale, amortized cost	167,932	206,139
Cash, cash equivalents and debt securities available-for-sale	168,051	205,952
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accumulated gross unrealized gain, before tax	42	116
Accumulated gross unrealized loss, before tax	0	0
Cash, cash equivalents and debt securities available-for-sale, amortized cost	118,069	148,366
Cash, cash equivalents and debt securities available-for-sale	118,111	148,482
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized cost	49,863	57,773
Accumulated gross unrealized gain, before tax	79	38
Accumulated gross unrealized loss, before tax	(2)	(341)
Debt securities, available-for-sale	49,940	57,470
Cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents	40,656	31,378
Cash and cash equivalents, fair value	40,656	31,378
Money market funds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents	71,232	110,796
Cash and cash equivalents, fair value	71,232	110,796
Treasury securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized cost	6,181	6,192
Accumulated gross unrealized gain, before tax	42	116
Accumulated gross unrealized loss, before tax	0	0
Debt securities, available-for-sale	6,223	6,308
Certificate of deposit \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents	8,641	8,641
Cash and cash equivalents, fair value	8,641	8,641
Commercial paper \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized cost	16,194	14,979
Accumulated gross unrealized gain, before tax	0	6
Accumulated gross unrealized loss, before tax	(1)	0
Debt securities, available-for-sale	16,193	14,985
Corporate debt \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized cost	25,028	34,153
Accumulated gross unrealized gain, before tax	79	32
Accumulated gross unrealized loss, before tax	(1)	(341)
Debt securities, available-for-sale	25,106	33,844
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	106,877	137,394
Cash and Cash Equivalents \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash, cash equivalents and debt securities available-for-sale	104,971	131,798
Cash and Cash Equivalents \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	1,906	5,596
Cash and Cash Equivalents \| Cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents	33,739	21,002
Cash and Cash Equivalents \| Money market funds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents	71,232	110,796
Cash and Cash Equivalents \| Commercial paper \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	1,300	5,596
Cash and Cash Equivalents \| Corporate debt \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	606
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	15,558	19,017
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	6,917	10,376
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	8,641	8,641
Restricted Cash (Current & Non-Current) \| Cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents	6,917	10,376
Restricted Cash (Current & Non-Current) \| Certificate of deposit \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents	8,641	8,641
Short-Term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash, cash equivalents and debt securities available-for-sale	41,738	33,458
Short-Term Investments \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	6,223
Short-Term Investments \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	35,515	33,458
Short-Term Investments \| Treasury securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	6,223
Short-Term Investments \| Commercial paper \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	14,893	9,389
Short-Term Investments \| Corporate debt \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	20,622	24,069
Long-Term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash, cash equivalents and debt securities available-for-sale	3,878	16,083
Long-Term Investments \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	6,308
Long-Term Investments \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	3,878	9,775
Long-Term Investments \| Treasury securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	6,308
Long-Term Investments \| Certificate of deposit \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0
Long-Term Investments \| Corporate debt \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	$ 3,878	$ 9,775

LEASES - Components of Lease Right-of-Use Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Assets
Operating lease, right-of-use assets	$ 70,443	$ 78,963
Liabilities
Operating lease liabilities, current	12,691	5,875
Operating lease liabilities, non-current	85,379	92,452
Total operating lease liabilities	$ 98,070	$ 98,327

Cover Page - shares	9 Months Ended
Cover Page - shares	Dec. 31, 2020	Jan. 22, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	001-38312
Entity Registrant Name	8x8, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0142404
Entity Address, Address Line One	675 Creekside Way
Entity Address, City or Town	Campbell
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95008
City Area Code	408
Local Phone Number	727-1885
Title of 12(b) Security	COMMON STOCK, PAR VALUE $.001 PER SHARE
Trading Symbol	EGHT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		107,486,374
Entity Central Index Key	0001023731
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021

REVENUE RECOGNITION - Changes in Contract Balances (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2020	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Contract assets	$ 27,690	$ 24,123
Change in contract assets	3,567
Deferred revenue	20,783	$ 8,224
Change in deferred revenue	$ 12,559

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	The accompanying condensed consolidated financial statements are unaudited and have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") and regulations of the Securities and Exchange Commission ("SEC") regarding interim financial reporting. The March 31, 2020 year-end condensed consolidated balance sheet disclosures in this document were derived from audited consolidated financial statements and do not include all disclosures required by GAAP. These condensed consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements as of and for the fiscal year ended March 31, 2020, and notes thereto included in the Company's fiscal 2020 Annual Report on Form 10-K ("Form 10-K"). There were no material changes during the three and nine months ended December 31, 2020, to our significant accounting policies as described in the Company's Form 10-K for the fiscal year ended March 31, 2020, except for the accounting policies described herein that were updated as a result of adopting Accounting Standards Update ("ASU") 2016-03, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, further amended by various ASUs, and ASU 2018-15, Intangibles-Goodwill and Other-Internal Use Software (Subtopic 350-40). The results of operations and cash flows for the periods included in these condensed consolidated financial statements are not necessarily indicative of the results to be expected for any future periods or the entire fiscal year. The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The Company conducts its operations through one reportable segment. In the opinion of the Company's management, these condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair statement of the Company's financial position, results of operations, and cash flows for the periods presented.
Use of Estimates	The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and equity, and disclosure of contingent assets and liabilities at the date of the condensed 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 allowance for credit losses, returns reserve for expected customer credits or cancellations, fair value of and/or evaluation for impairment of goodwill and other long-lived assets, capitalization of internally developed software, benefit period for deferred sales commission costs, stock-based compensation expense, discount rate used to calculate operating lease liabilities, income and sales tax liabilities, fair value of convertible senior notes, 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.
Reclassifications and Other Changes	During the fourth quarter of fiscal 2020, the Company determined that presenting service revenue as revenue from the Company's core communication services would provide transparency and clarity to the users of the financial statements. As such, the Company reclassified certain revenue and cost of revenue on its condensed consolidated statement of operations for the three and nine months ended December 31, 2019. Professional services revenue and cost of professional services revenue previously reported in service revenue and cost of service revenue are now reported in other revenue and cost of other revenue. Product revenue and cost of product revenue are also now reported in other revenue and cost of other revenue. The reclassifications did not have any impact on total revenue, consolidated net loss, or cash flows.In addition, certain prior year amounts in the condensed consolidated statements of cash flows have been reclassified to conform with the current year presentation.
Recently Adopted Accounting Pronouncements, Recent Accounting Pronouncements Not Yet Adopted	RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS In June 2016, the Financial Accounting Standards Board ("FASB") issued ASU 2016‑13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, as amended, which replaces the existing impairment model with a forward-looking expected loss method. Under this update, on initial recognition and at each reporting period, an entity is required to recognize an allowance that reflects the entity's current estimate of credit losses expected to be incurred over the life of the financial instrument. For trade receivables, loans, and other financial instruments, an entity is required to use a forward-looking expected loss model to recognize credit losses that are probable. The Company adopted ASU 2016-13 on a modified retrospective basis as of April 1, 2020, through a cumulative-effect adjustment to the Company's beginning accumulated deficit balance; the impact of the adoption was not material to the Company's consolidated financial statements. Credit losses are not expected to be significant based on historical collection trends, the financial condition of the Company’s customers, and external market factors, including those related to the COVID-19 pandemic. The Company will continue to actively monitor the impact of the recent COVID-19 pandemic on expected credit losses. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820), which makes modifications to disclosure requirements on fair value measurements. The Company adopted ASU 2018-13 on April 1, 2020. The impact of the adoption was immaterial to the Company's consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal Use Software (Subtopic 350-40), which reduces complexity for the accounting for costs of implementing a cloud computing service arrangement. The Company adopted this guidance on a prospective basis effective April 1, 2020. The impact of the adoption was immaterial to the Company's consolidated financial statements. RECENT ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740), which enhances and simplifies various aspects of the income tax accounting guidance, including requirements such as tax basis step-up in goodwill obtained in a transaction that is not a business combination, ownership changes in investments, and interim-period accounting for enacted changes in tax law. The amendment will be effective for public companies with fiscal years beginning after December 15, 2020, which is fiscal 2022 for the Company; early adoption is permitted. The Company is currently assessing the impact of this pronouncement to its consolidated financial statements. In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40), which simplifies accounting for convertible instruments by eliminating two of the three accounting models available for convertible debt instruments and convertible preferred stock. The guidance also addresses how convertible instruments are accounted for in the diluted earnings per share calculation. The guidance is effective for fiscal years beginning after December 15, 2021, which is fiscal 2023 for the Company; early adoption is permitted. The Company is currently assessing the impact of this pronouncement to its consolidated financial statements.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Total revenue	$ 136,685	$ 118,567	$ 387,625	$ 324,759
Operating expenses:
Research and development	23,702	19,870	66,763	57,635
Sales and marketing	63,986	63,099	185,535	174,593
General and administrative	23,844	22,547	72,403	62,589
Total operating expenses	171,940	161,735	493,738	438,424
Loss from operations	(35,255)	(43,168)	(106,113)	(113,665)
Other expense, net	(4,669)	(3,623)	(13,772)	(7,919)
Loss before provision for income taxes	(39,924)	(46,791)	(119,885)	(121,584)
Provision for income taxes	301	280	666	684
Net loss	$ (40,225)	$ (47,071)	$ (120,551)	$ (122,268)
Net loss per share:
Basic and diluted (in dollars per share)	$ (0.38)	$ (0.47)	$ (1.15)	$ (1.23)
Weighted-average common shares outstanding:
Basic and diluted (in shares)	106,641	99,922	104,961	99,082
Service
Total revenue	$ 127,107	$ 110,363	$ 362,232	$ 301,547
Operating expenses:
Cost of goods and services sold	47,044	40,786	132,843	101,899
Other
Total revenue	9,578	8,204	25,393	23,212
Operating expenses:
Cost of goods and services sold	$ 13,364	$ 15,433	$ 36,194	$ 41,708

DESCRIPTION OF BUSINESS	9 Months Ended
DESCRIPTION OF BUSINESS	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	DESCRIPTION OF BUSINESS 8x8, Inc. ("8x8" or the "Company") was incorporated in California in February 1987, and was reincorporated in Delaware in December 1996. The Company is a leading cloud provider of enterprise Software-as-a-Service ("SaaS") communications solutions that enable businesses of all sizes to communicate faster and smarter across voice, video meetings, chat, and contact centers, transforming both employee and customer experiences with communications that work simply, integrate seamlessly, and perform reliably. From one proprietary cloud technology platform, customers have access to unified communications, team collaboration, video conferencing, contact center, data and analytics, and other services. Substantially 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 our integrated technology platform.

INTANGIBLE ASSETS AND GOODWILL - Narrative (Details)	9 Months Ended
INTANGIBLE ASSETS AND GOODWILL - Narrative (Details)	Dec. 31, 2020
Developed technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, remaining amortization period	4 years 8 months 12 days
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, remaining amortization period	5 years 6 months

CONVERTIBLE SENIOR NOTES AND CAPPED CALL (Tables)

9 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Convertible Debt

The net carrying amount of the liability component of the Notes was as follows (in thousands):


	December 31, 2020		March 31, 2020
Principal	$	362,500	$	362,500
Unamortized debt discount	(57,587)		(69,987)
Unamortized issuance costs	(802)		(976)
Net carrying amount	$	304,111	$	291,537

Schedule of Interest Income and Interest Expense Disclosure

Interest expense related to the Notes was as follows (in thousands):


	Three Months Ended December 31,				Nine Months Ended December 31,
	2020		2019		2020		2019
Contractual interest expense	$	453	$	400	$	1,359	$	1,119
Amortization of debt discount	4,198		3,551		12,399		9,926
Amortization of issuance costs	59		40		174		92
Total interest expense	$	4,710	$	3,991	$	13,932	$	11,137

REVENUE RECOGNITION - Remaining Performance Obligation (Details) $ in Millions	Dec. 31, 2020 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, amount	$ 365
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	36 months

INCOME TAXES	9 Months Ended
INCOME TAXES	Dec. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXESThe Company's effective tax rate was (0.8)% and (0.6)% for the three months ended December 31, 2020 and 2019, respectively, and (0.6)% for the nine months ended December 31, 2020 and 2019. The difference in the effective tax rate and the U.S. federal statutory rate was primarily due to the full valuation allowance the Company continues to maintain against its deferred tax assets. The effective tax rate is calculated by dividing the income tax provision by net loss before income tax expense.

- 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 + Details

STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Share-based Payment Arrangement, Activity

The following tables summarize information pertaining to the stock-based compensation expense (in thousands):


	Three Months Ended December 31,				Nine Months Ended December 31,
	2020		2019		2020		2019
Cost of service revenue	$	2,472	$	1,387	$	6,696	$	3,566
Cost of other revenue	1,142		839		3,042		2,330
Research and development	8,297		5,535		23,097		13,616
Sales and marketing	9,363		5,197		22,156		14,458
General and administrative	5,565		6,359		19,949		16,335
Total	$	26,839	$	19,317	$	74,940	$	50,305

Restricted Stock Units (RSU) and Performance Stock Units (PSU)

The following table presents activities related to RSU and PSU, collectively Stock Awards (in thousands, except weighted-average grant-date fair value and recognition period):


	Nine Months Ended December 31,
	2020		2019
Stock Awards outstanding at the beginning of the period:	9,191		7,820
Stock Awards granted	6,742		5,886
Stock Awards vested	(3,530)		(2,860)
Stock Awards canceled and forfeited	(969)		(1,056)
Stock Awards outstanding at the end of the period:	11,434		9,790

Weighted-average fair value of grants during the period	$	18.97	$	22.35
Weighted-average remaining recognition period (in years)	1.88		2.13
Total unrecognized compensation expense at period-end	$	157,416	$	128,463

The following table presents activities related to Stock Options (in thousands, except weighted-average grant-date fair value and recognition period):


	Nine Months Ended December 31,
	2020		2019
Stock options outstanding at the beginning of the period:	2,274		3,114

Options exercised	(175)		(391)
Options canceled and forfeited	(28)		(55)
Options outstanding at the end of the period:	2,071		2,668


Total intrinsic value of options exercised during the period	$	1,761	$	4,844
Weighted-average remaining recognition period (in years)	1.33		2.16
Total unrecognized compensation expense at period-end	$	558	$	1,102

STOCK-BASED COMPENSATION

9 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

The following tables summarize information pertaining to the stock-based compensation expense (in thousands):


	Three Months Ended December 31,				Nine Months Ended December 31,
	2020		2019		2020		2019
Cost of service revenue	$	2,472	$	1,387	$	6,696	$	3,566
Cost of other revenue	1,142		839		3,042		2,330
Research and development	8,297		5,535		23,097		13,616
Sales and marketing	9,363		5,197		22,156		14,458
General and administrative	5,565		6,359		19,949		16,335
Total	$	26,839	$	19,317	$	74,940	$	50,305

Restricted Stock Units (RSU) and Performance Stock Units (PSU)

The following table presents activities related to RSU and PSU, collectively Stock Awards (in thousands, except weighted-average grant-date fair value and recognition period):


	Nine Months Ended December 31,
	2020		2019
Stock Awards outstanding at the beginning of the period:	9,191		7,820
Stock Awards granted	6,742		5,886
Stock Awards vested	(3,530)		(2,860)
Stock Awards canceled and forfeited	(969)		(1,056)
Stock Awards outstanding at the end of the period:	11,434		9,790

Weighted-average fair value of grants during the period	$	18.97	$	22.35
Weighted-average remaining recognition period (in years)	1.88		2.13
Total unrecognized compensation expense at period-end	$	157,416	$	128,463

During the nine months ended December 31, 2020, the Company granted 5.7 million shares of RSU and 1.0 million shares of PSU, of which, 28,467 shares of PSU vested based on market based conditions during the period.

The PSU awards granted during the nine months ended December 31, 2020 are based on Total Shareholder Return ("TSR") as measured relative to the S&P Software Services Select Industry Index over performance periods ranging from one to three years. All PSU awards vest 100% at the end of the respective performance periods. A number of shares equal to 100% of the target opportunity will be earned in the event that the Company’s performance matches that of the specified index during the relevant period. A 2x multiplier will be applied for each percentage point of positive or negative relative TSR, such that the number of shares of common stock earned will increase or decrease by 2% of the target number of shares, subject to a maximum of 200% of the target number of shares. In the event that the Company’s relative TSR performance is less than negative 30%, relative to the specified index, no shares will be earned for the applicable performance period. The PSU were valued for compensation expense purposes at $29.07 per weighted average share as determined by Monte Carlo simulations using volatility factors ranging from 55.66% to 60.68% and risk-free rates ranging from 0.15% to 0.18%.

The RSU awarded during the nine months ended December 31, 2020 were valued at $17.12 per weighted average share based on the closing sales price of the Company's stock on the grant date.

Stock Options

The following table presents activities related to Stock Options (in thousands, except weighted-average grant-date fair value and recognition period):


	Nine Months Ended December 31,
	2020		2019
Stock options outstanding at the beginning of the period:	2,274		3,114

Options exercised	(175)		(391)
Options canceled and forfeited	(28)		(55)
Options outstanding at the end of the period:	2,071		2,668


Total intrinsic value of options exercised during the period	$	1,761	$	4,844
Weighted-average remaining recognition period (in years)	1.33		2.16
Total unrecognized compensation expense at period-end	$	558	$	1,102

Employee Stock Purchase Plan (ESPP)

In July 2020, 329,430 shares were purchased and issued under the ESPP. As of December 31, 2020, there was a total of $1.5 million of unrecognized compensation, net of estimated forfeitures, which will be amortized on a straight line basis over the remaining weighted-average vesting period of 0.32 years. As of December 31, 2020, a total of 3,252,882 shares were available for issuance under the ESPP.

Stock Repurchases

In May 2017, the Company's board of directors authorized the 2017 Repurchase Plan under which the Company could purchase up to $25.0 million of its common stock. The remaining amount available at December 31, 2020 was approximately $7.1 million. There were no stock repurchases during the three and nine months ended December 31, 2020 and 2019.

FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Fair Value Measurements

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


As of December 31, 2020	Amortized Costs		Gross Unrealized Gain		Gross Unrealized Loss		Estimated Fair Value		Cash and Cash Equivalents		Restricted Cash (Current & Non-Current)		Short-Term Investments		Long-Term Investments
Cash	$	40,656	$	—	$	—	$	40,656	$	33,739	$	6,917	$	—	$	—
Level 1:
Money market funds	71,232		—		—		71,232		71,232		—		—		—
Treasury securities	6,181		42		—		6,223		—		—		6,223		—
Subtotal	118,069		42		—		118,111		104,971		6,917		6,223		—
Level 2:
Certificate of deposit	8,641		—		—		8,641		—		8,641		—		—
Commercial paper	16,194		—		(1)		16,193		1,300		—		14,893		—
Corporate debt	25,028		79		(1)		25,106		606		—		20,622		3,878
Subtotal	49,863		79		(2)		49,940		1,906		8,641		35,515		3,878
Total assets	$	167,932	$	121	$	(2)	$	168,051	$	106,877	$	15,558	$	41,738	$	3,878


As of March 31, 2020	Amortized Costs		Gross Unrealized Gain		Gross Unrealized Loss		Estimated Fair Value		Cash and Cash Equivalents		Restricted Cash (Current & Non-Current)		Short-Term Investments		Long-Term Investments
Cash	$	31,378	$	—	$	—	$	31,378	$	21,002	$	10,376	$	—	$	—
Level 1:
Money market funds	110,796		—		—		110,796		110,796		—		—		—
Treasury securities	6,192		116		—		6,308		—		—		—		6,308
Subtotal	148,366		116		—		148,482		131,798		10,376		—		6,308
Level 2:
Certificate of deposit	8,641		—		—		8,641		—		8,641		—		—
Commercial paper	14,979		6		—		14,985		5,596		—		9,389		—
Corporate debt	34,153		32		(341)		33,844		—		—		24,069		9,775
Subtotal	57,773		38		(341)		57,470		5,596		8,641		33,458		9,775
Total assets	$	206,139	$	154	$	(341)	$	205,952	$	137,394	$	19,017	$	33,458	$	16,083

- Definition

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

+ References + Details

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net loss	$ (40,225)	$ (47,071)	$ (120,551)	$ (122,268)
Other comprehensive income (loss), net of tax
Unrealized gain (loss) on investments in securities	(73)	(12)	306	106
Foreign currency translation adjustment	4,537	4,587	8,367	682
Comprehensive loss	$ (35,761)	$ (42,496)	$ (111,878)	$ (121,480)

- Definition

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

+ References

+ Details

GEOGRAPHICAL INFORMATION - PPE (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Segment Reporting Information [Line Items]
Total property and equipment, net	$ 94,480	$ 94,382
United States
Segment Reporting Information [Line Items]
Total property and equipment, net	89,063	87,673
International
Segment Reporting Information [Line Items]
Total property and equipment, net	$ 5,417	$ 6,709

GEOGRAPHICAL INFORMATION

9 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

GEOGRAPHICAL INFORMATION

The following tables present information by geographic area (in thousands):


	Three Months Ended December 31,				Nine Months Ended December 31,
Revenue by geographic area:	2020		2019		2020		2019
United States	$	98,919	$	90,171	$	288,268	$	258,847
International	37,766		28,396		99,357		65,912
Total revenue	$	136,685	$	118,567	$	387,625	$	324,759


Property and equipment by geographic area:	December 31, 2020		March 31, 2020
United States	$	89,063	$	87,673
International	5,417		6,709
Total property and equipment, net	$	94,480	$	94,382

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
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+ Details

GEOGRAPHICAL INFORMATION (Tables)

9 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables present information by geographic area (in thousands):


	Three Months Ended December 31,				Nine Months Ended December 31,
Revenue by geographic area:	2020		2019		2020		2019
United States	$	98,919	$	90,171	$	288,268	$	258,847
International	37,766		28,396		99,357		65,912
Total revenue	$	136,685	$	118,567	$	387,625	$	324,759


Property and equipment by geographic area:	December 31, 2020		March 31, 2020
United States	$	89,063	$	87,673
International	5,417		6,709
Total property and equipment, net	$	94,480	$	94,382

REVENUE RECOGNITION

9 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

Disaggregation of Revenue

The Company presents disaggregated revenue by geographic regions in Note 13. Geographical Information.

Contract Balances

The following table provides information about receivables, contract assets, and deferred revenues from contracts with customers (in thousands):


	December 31, 2020		March 31, 2020
Accounts receivable, net	$	50,404	$	37,811
Contract assets, current, net (included in Other current assets)	$	12,002	$	10,425
Contract assets, non-current, net (included in Other assets)	$	15,688	$	13,698
Deferred revenue, current	$	18,015	$	7,105
Deferred revenue, non-current (included in Other liabilities, non-current)	$	2,768	$	1,119

Changes in the contract assets and deferred revenue balances during the nine months ended December 31, 2020 are as follows (in thousands):


	December 31, 2020		March 31, 2020		Change
Contract assets	$	27,690	$	24,123	$	3,567
Deferred revenue	$	20,783	$	8,224	$	12,559

The increase in contract assets was primarily driven by the recognition of revenue that had not yet been billed, net of amounts billed during the period, and the reserve for credit losses. The increase in deferred revenue was due to billings in advance of performance obligations being satisfied, net of revenue recognized for services rendered during the period. Revenue of $0.7 million and $5.7 million was recognized during the three and nine months ended December 31, 2020, respectively, which was included in the deferred revenue balance at the beginning of the period.

Remaining Performance Obligations

The Company's subscription terms typically range from one to five years. Contract revenue from remaining performance obligations that had not yet been recognized as of December 31, 2020, was approximately $365 million. This excludes contracts with an original expected length of one year or less. The Company expects to recognize revenue on most of the remaining performance obligations over the next 36 months.

Deferred Sales Commission Costs

Amortization of deferred sales commission costs was $7.3 million and $5.1 million for the three months ended December 31, 2020 and 2019, respectively, and $20.1 million and $13.8 million, for the nine months ended December 31, 2020 and 2019, respectively. There were no material write-offs of deferred sales commission costs during these periods.

- Definition

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

+ References

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

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

BUSINESS COMBINATION	9 Months Ended
BUSINESS COMBINATION	Dec. 31, 2020
Business Combinations [Abstract]
BUSINESS COMBINATIONS	BUSINESS COMBINATIONSIn July 2019, the Company purchased all of the outstanding shares and equity interests of Wavecell, Pte. Ltd. As of September 30, 2020 the fair value of all assets acquired and liabilities assumed in the transaction were finalized. Of the $10.4 million cash and 394,515 shares (equivalent to $8.5 million at acquisition) that were held back, the Company released $3.5 million of cash and 116,505 shares on the one-year anniversary of the acquisition. The remaining balance was released in January 2021.

LEASES - Maturity of Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Leases [Abstract]
Remainder of 2021	$ 3,586
2022	16,382
2023	15,182
2024	11,835
2025	11,497
Thereafter	58,190
Total lease payments	116,672
Less: imputed interest	(18,602)
Present value of lease liabilities	$ 98,070	$ 98,327

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Dec. 31, 2020 segment
Accounting Policies [Abstract]
Number of reportable segments	1

GEOGRAPHICAL INFORMATION - Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Total revenue	$ 136,685	$ 118,567	$ 387,625	$ 324,759
United States
Segment Reporting Information [Line Items]
Total revenue	98,919	90,171	288,268	258,847
International
Segment Reporting Information [Line Items]
Total revenue	$ 37,766	$ 28,396	$ 99,357	$ 65,912

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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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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+ Details

NET LOSS PER SHARE (Tables)

9 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table summarizes the computation of basic and diluted net loss per share (in thousands, except per share data):


	Three Months Ended December 31,				Nine Months Ended December 31,
	2020		2019		2020		2019
Net loss	$	(40,225)	$	(47,071)	$	(120,551)	$	(122,268)
Weighted average common shares outstanding - basic and diluted	106,641		99,922		104,961		99,082

Net loss per share:
Basic and diluted	$	(0.38)	$	(0.47)	$	(1.15)	$	(1.23)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share


	Three Months Ended December 31,		Nine Months Ended December 31,
	2020	2019	2020	2019
Stock options	2,071	2,668	2,071	2,668
Stock awards	11,434	9,790	11,434	9,790
Potential shares to be issued from ESPP	529	387	529	387
Total anti-dilutive shares	14,034	12,845	14,034	12,845

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net loss	$ (120,551)	$ (122,268)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	8,529	6,801
Amortization of intangible assets	5,590	6,149
Amortization of capitalized software	20,021	13,263
Amortization of debt discount and issuance costs	12,574	9,987
Amortization of deferred sales commission costs	20,040	13,805
Allowance for credit losses	3,950	1,323
Operating lease expense, net of accretion	11,469	10,676
Stock-based compensation	74,940	50,305
Other	517	1,348
Changes in assets and liabilities:
Accounts receivable, net	(13,277)	(8,776)
Deferred sales commission costs	(41,187)	(33,651)
Other current and non-current assets	(8,939)	(24,780)
Accounts payable and accruals	(338)	7,876
Deferred revenue	11,797	5,106
Net cash used in operating activities	(14,865)	(62,836)
Cash flows from investing activities:
Purchases of property and equipment	(4,975)	(22,853)
Purchase of businesses	(3,459)	(58,853)
Cost of capitalized software	(22,858)	(22,784)
Proceeds from maturities of investments	40,771	16,195
Proceeds from sales of investments	219	33,117
Purchases of investments	(36,840)	(29,658)
Net cash used in investing activities	(27,142)	(84,836)
Cash flows from financing activities:
Finance lease payments	(74)	(312)
Tax-related withholding of common stock	(69)	(6,186)
Proceeds from issuance of common stock under employee stock plans	6,058	7,035
Purchases of capped calls	0	(9,288)
Net proceeds from issuance of convertible senior notes	0	74,593
Net cash provided by financing activities	5,915	65,842
Effects of currency exchange rates on cash, cash equivalent, and restricted cash	2,116	958
Net decrease in cash, cash equivalents, and restricted cash	(33,976)	(80,872)
Cash, cash equivalents, and restricted cash at the beginning of the period	156,411	284,683
Cash, cash equivalents, and restricted cash at the end of the period	122,435	203,811
Supplemental and non-cash disclosures:
Income taxes paid	761	719
Interest paid	906	647
Right of use assets obtained in exchange for new or modified operating lease liabilities	0	64,869
Reconciliation Of Cash Cash Equivalents And Restricted Cash [Abstract]
Total cash, cash equivalents, and restricted cash	$ 122,435	$ 203,811

INTANGIBLE ASSETS AND GOODWILL - Summary of Changes in Goodwill (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2020 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 128,300
Foreign currency translation adjustments	3,767
Goodwill, ending balance	$ 132,067

REVENUE RECOGNITION - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract with customer, revenue recognized	$ 0.7		$ 5.7
Amortization cost	$ 7.3	$ 5.1	$ 20.1	$ 13.8
Minimum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Subscription term			1 year
Maximum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Subscription term			5 years

LEASES - Operating Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease expense	$ 3,886	$ 4,436	$ 11,469	$ 10,677
Variable lease expense	$ 729	$ 434	$ 2,368	$ 872

BUSINESS COMBINATIONS (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
BUSINESS COMBINATIONS (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Purchase of businesses		$ 3,459	$ 58,853
Wavecell Pte. Ltd.
Business Acquisition [Line Items]
Cash held back to cover indemnity claims	$ 10,400
Equity held back to cover indemnity claims (in shares)	394,515
Equity held back to cover indemnity claims	$ 8,500
Purchase of businesses	$ 3,500
Issuance of common stock related to acquisitions (in shares)	116,505

STOCK-BASED COMPENSATION - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 26,839	$ 19,317	$ 74,940	$ 50,305
Cost of Sales \| Service
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	2,472	1,387	6,696	3,566
Cost of Sales \| Other revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	1,142	839	3,042	2,330
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	8,297	5,535	23,097	13,616
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	9,363	5,197	22,156	14,458
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 5,565	$ 6,359	$ 19,949	$ 16,335

FAIR VALUE MEASUREMENTS

9 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

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


As of December 31, 2020	Amortized Costs		Gross Unrealized Gain		Gross Unrealized Loss		Estimated Fair Value		Cash and Cash Equivalents		Restricted Cash (Current & Non-Current)		Short-Term Investments		Long-Term Investments
Cash	$	40,656	$	—	$	—	$	40,656	$	33,739	$	6,917	$	—	$	—
Level 1:
Money market funds	71,232		—		—		71,232		71,232		—		—		—
Treasury securities	6,181		42		—		6,223		—		—		6,223		—
Subtotal	118,069		42		—		118,111		104,971		6,917		6,223		—
Level 2:
Certificate of deposit	8,641		—		—		8,641		—		8,641		—		—
Commercial paper	16,194		—		(1)		16,193		1,300		—		14,893		—
Corporate debt	25,028		79		(1)		25,106		606		—		20,622		3,878
Subtotal	49,863		79		(2)		49,940		1,906		8,641		35,515		3,878
Total assets	$	167,932	$	121	$	(2)	$	168,051	$	106,877	$	15,558	$	41,738	$	3,878


As of March 31, 2020	Amortized Costs		Gross Unrealized Gain		Gross Unrealized Loss		Estimated Fair Value		Cash and Cash Equivalents		Restricted Cash (Current & Non-Current)		Short-Term Investments		Long-Term Investments
Cash	$	31,378	$	—	$	—	$	31,378	$	21,002	$	10,376	$	—	$	—
Level 1:
Money market funds	110,796		—		—		110,796		110,796		—		—		—
Treasury securities	6,192		116		—		6,308		—		—		—		6,308
Subtotal	148,366		116		—		148,482		131,798		10,376		—		6,308
Level 2:
Certificate of deposit	8,641		—		—		8,641		—		8,641		—		—
Commercial paper	14,979		6		—		14,985		5,596		—		9,389		—
Corporate debt	34,153		32		(341)		33,844		—		—		24,069		9,775
Subtotal	57,773		38		(341)		57,470		5,596		8,641		33,458		9,775
Total assets	$	206,139	$	154	$	(341)	$	205,952	$	137,394	$	19,017	$	33,458	$	16,083

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

The Company considers its investments available to support its current operations and has classified all investments 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 December 31, 2020, 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 December 31, 2020, the Company did not have any risk of expected credit losses.

As of December 31, 2020, the estimated fair value of the Company's outstanding convertible senior notes (the "Notes") was $527.8 million, which was determined based on the closing price for the Notes on the last trading day of the reporting period. The estimated fair value is categorized within Level 2 of the fair value hierarchy due to limited trading activity of the Notes.

- Definition

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

+ References + Details

INTANGIBLE ASSETS AND GOODWILL - Carrying Value of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 46,885	$ 46,324
Accumulated Amortization	(28,459)	(22,323)
Net Carrying Amount	18,426	24,001
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	33,969	33,932
Accumulated Amortization	(20,391)	(16,312)
Net Carrying Amount	13,578	17,620
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	11,927	11,409
Accumulated Amortization	(7,079)	(5,412)
Net Carrying Amount	4,848	5,997
Trade and domain names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	989	983
Accumulated Amortization	(989)	(599)
Net Carrying Amount	$ 0	$ 384

REVENUE RECOGNITION - Contract Balances (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 50,404	$ 37,811
Contract assets, current, net (included in Other current assets)	12,002	10,425
Contract assets, non-current, net (included in Other assets)	15,688	13,698
Deferred revenue, current	18,015	7,105
Deferred revenue, non-current (included in Other liabilities, non-current)	$ 2,768	$ 1,119

INTANGIBLE ASSETS AND GOODWILL

9 Months Ended

Dec. 31, 2020

Intangible Assets, Net (Including Goodwill) [Abstract]

INTANGIBLE ASSETS AND GOODWILL

Intangible Assets

The carrying value of intangible assets consisted of the following (in thousands):


	December 31, 2020						March 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Developed technology	$	33,969	$	(20,391)	$	13,578	$	33,932	$	(16,312)	$	17,620
Customer relationships	11,927		(7,079)		4,848		11,409		(5,412)		5,997
Trade and domain names	989		(989)		—		983		(599)		384
Total acquired identifiable intangible assets	$	46,885	$	(28,459)	$	18,426	$	46,324	$	(22,323)	$	24,001

As of December 31, 2020, the weighted average remaining useful life of developed technology and customer relationships was 4.7 years and 5.5 years, respectively.

As of December 31, 2020, the expected future amortization expense of the intangible assets was as follows (in thousands):


Remainder of 2021	$	1,296
2022	4,708
2023	3,156
2024	2,851
2025	2,851
Thereafter	3,564
Total	$	18,426

Goodwill

The following table provides a summary of the change in the carrying amount of goodwill (in thousands):


Balance at March 31, 2020	$	128,300
Foreign currency translation adjustments	3,767
Balance at December 31, 2020	$	132,067

LEASES - Narrative (Details) ft² in Thousands, $ in Millions	9 Months Ended
	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Mar. 31, 2020 USD ($)	Mar. 31, 2018 ft²
Leases [Abstract]
Operating cash flow from operating leases	$ 6.3	$ 7.2
Term of contract				132 months
Area of real estate property \| ft²				162
Liability related to lease assignment	2.8
Termination fee	0.8
Receivable related to lease assignment	$ 6.4		$ 6.4