8x8 (EGHT) 10-Q 29 Jul 22 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Jun. 30, 2022	Jul. 25, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
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		119,964,673
Entity Central Index Key	0001023731
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022
Current assets:
Cash and cash equivalents	$ 92,686	$ 91,205
Restricted cash, current	590	8,691
Short-term investments	48,945	44,845
Accounts receivable, net	55,441	57,400
Deferred sales commission costs, current	36,510	35,482
Other current assets	38,545	37,999
Total current assets	272,717	275,622
Property and equipment, net	73,876	79,016
Operating lease, right-of-use assets	59,859	63,415
Intangible assets, net	122,737	128,213
Goodwill	265,029	266,867
Restricted cash, non-current	818	818
Long-term investments	0	2,671
Deferred sales commission costs, non-current	76,083	75,668
Other assets, non-current	18,028	17,978
Total assets	889,147	910,268
Current liabilities:
Accounts payable	42,584	49,721
Accrued compensation	33,713	36,319
Accrued taxes	31,864	32,573
Operating lease liabilities, current	14,424	15,485
Deferred revenue, current	34,064	34,262
Other accrued liabilities	18,767	23,167
Total current liabilities	175,416	191,527
Operating lease liabilities, non-current	71,806	74,518
Convertible senior notes, net	494,444	447,452
Deferred revenue, non-current	11,023	11,430
Other liabilities, non-current	2,936	2,975
Total liabilities	755,625	727,902
Commitments and contingencies (Note 6)
Stockholders' equity:
Preferred stock	0	0
Common stock	120	118
Additional paid-in capital	895,602	956,599
Accumulated other comprehensive loss	(16,391)	(7,913)
Accumulated deficit	(745,809)	(766,438)
Total stockholders' equity	133,522	182,366
Total liabilities and stockholders' equity	$ 889,147	$ 910,268

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Total revenue	$ 187,620	$ 148,327
Operating expenses:
Research and development	34,955	25,392
Sales and marketing	83,527	75,915
General and administrative	29,219	26,091
Total operating expenses	214,374	187,154
Loss from operations	(26,754)	(38,827)
Other income (expense), net	1,116	(4,823)
Loss before provision for income taxes	(25,638)	(43,650)
Provision for income taxes	405	256
Net loss	$ (26,043)	$ (43,906)
Net loss per share:
Basic (in dollars per share)	$ (0.22)	$ (0.40)
Diluted (in dollars per share)	$ (0.22)	$ (0.40)
Weighted average number of shares:
Basic (in shares)	119,721	109,925
Diluted (in shares)	119,721	109,925
Service revenue
Total revenue	$ 179,161	$ 137,796
Operating expenses:
Cost of revenue	53,547	46,010
Other revenue
Total revenue	8,459	10,531
Operating expenses:
Cost of revenue	$ 13,126	$ 13,746

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (26,043)	$ (43,906)
Other comprehensive income (loss), net of tax
Unrealized loss on investments in securities	(94)	(33)
Foreign currency translation adjustment	(8,384)	283
Comprehensive loss	$ (34,521)	$ (43,656)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-in Capital	Additional Paid-in Capital Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment
Beginning balance (in shares) at Mar. 31, 2021			109,135
Beginning balance at Mar. 31, 2021	$ 160,504		$ 109	$ 755,643		$ (4,193)	$ (591,055)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock plans, less withholding (in shares)			1,562
Issuance of common stock under stock plans, less withholding	3,440		$ 2	3,438
Stock-based compensation expense	36,508			36,508
Unrealized investment loss	(33)					(33)
Foreign currency translation adjustment	283					283
Net loss	(43,906)						(43,906)
Ending balance (in shares) at Jun. 30, 2021			110,697
Ending balance at Jun. 30, 2021	156,796		$ 111	795,589		(3,943)	(634,961)
Beginning balance (in shares) at Mar. 31, 2022			117,863
Beginning balance at Mar. 31, 2022	182,366	$ (46,160)	$ 118	956,599	$ (92,832)	(7,913)	(766,438)	$ 46,672
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock plans, less withholding (in shares)			1,796
Issuance of common stock under stock plans, less withholding	65		$ 2	63
Stock-based compensation expense	31,807			31,807
Unrealized investment loss	(94)					(94)
Foreign currency translation adjustment	(8,419)			(35)		(8,384)
Net loss	(26,043)						(26,043)
Ending balance (in shares) at Jun. 30, 2022			119,659
Ending balance at Jun. 30, 2022	$ 133,522		$ 120	$ 895,602		$ (16,391)	$ (745,809)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022
Cash flows from operating activities:
Net loss	$ (26,043)	$ (43,906)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	2,789	2,922
Amortization of intangible assets	5,476	1,285
Amortization of capitalized internal-use software costs	5,964	7,243
Amortization of debt discount and issuance costs	831	4,393
Amortization of deferred sales commission costs	9,166	8,245
Allowance for credit losses	695	383
Operating lease expense, net of accretion	3,121	3,459
Stock-based compensation expense	27,814	36,587
Other	456	713
Changes in assets and liabilities:
Accounts receivable	(99)	924
Deferred sales commission costs	(9,246)	(11,615)
Other current and non-current assets	(692)	(2,550)
Accounts payable and accruals	(13,786)	(5,063)
Deferred revenue	(605)	1,012
Net cash provided by operating activities	5,841	4,032
Cash flows from investing activities:
Purchases of property and equipment	(971)	(878)
Capitalized internal-use software costs	(2,309)	(6,546)
Purchases of investments	(18,838)	(28,721)
Sales of investments	1,937	10,299
Proceeds from maturities of investments	15,590	14,700
Acquisition of business	(1,250)	0
Net cash provided by (used in) investing activities	(5,841)	(11,146)
Cash flows from financing activities:
Finance lease payments	0	(4)
Tax-related withholding of common stock	0	(99)
Proceeds from issuance of common stock under employee stock plans	65	3,538
Net cash provided by financing activities	65	3,435
Effect of exchange rate changes on cash	(6,685)	436
Net decrease in cash, cash equivalents and restricted cash	(6,620)	(3,243)
Cash, cash equivalents and restricted cash, beginning of year	100,714	121,172	$ 121,172
Cash, cash equivalents and restricted cash, end of year	94,094	117,929	100,714
Supplemental information:
Income taxes paid	461	337
Reconciliation of cash, cash equivalents, and restricted cash at the end of the period:
Cash and cash equivalents	92,686	109,288	91,205
Restricted cash, current	590	8,179	8,691
Restricted cash, non-current	818	462	818
Total cash, cash equivalents and restricted cash	$ 94,094	$ 117,929	$ 100,714

THE COMPANY AND SIGNIFICANT ACC

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES	THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES THE COMPANY 8x8, Inc. ("8x8" or the "Company") was incorporated in California in February 1987 and was reincorporated in Delaware in December 1996. The Company is a leading Software-as-a-Service ("SaaS") provider of contact center, voice, video, chat, and enterprise-class API solutions powered by one global cloud communications platform. 8x8 empowers workforces worldwide by connecting individuals and teams so they can collaborate faster and work smarter from anywhere. 8x8 provides real-time business analytics and intelligence, giving its customers unique insights across all interactions and channels on its platform, so they can support a distributed and hybrid working model while delighting their end-customers and accelerating their business. A majority of all revenue is generated from communication services subscriptions and platform usage. The Company also generates revenue from sales of hardware and professional services, which are complementary to the delivery of its integrated technology platform. BASIS OF PRESENTATION AND CONSOLIDATION The accompanying condensed consolidated financial statements are unaudited and have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") and regulations of the Securities and Exchange Commission ("SEC") regarding interim financial reporting. Accordingly, certain information and disclosures normally included in the Company's annual consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. 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, 2022, and notes thereto included in the Form 10-K. There were no material changes during the three months ended June 30, 2022, to the Company's significant accounting policies as described in the Form 10-K. 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. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for any subsequent quarter or for the entire year ending March 31, 2023. All dollar amounts herein are in thousands of United States Dollars ("Dollars") unless otherwise noted. USE OF ESTIMATES The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and equity, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates, including, but not limited to, those related to current expected credit losses, returns reserve for expected cancellations, fair value of and/or potential impairment of goodwill and intangible assets, capitalized internal-use software costs, benefit period for deferred commissions, stock-based compensation, incremental borrowing rate used to calculate operating lease liabilities, income and sales tax liabilities, convertible senior notes fair value, litigation, and other contingencies. The Company bases its estimates on known facts and circumstances, historical experience, and various other assumptions. Actual results could differ from those estimates under different assumptions or conditions. OUT OF PERIOD ADJUSTMENTS During the three months ended June 30, 2022, the Company recorded out of period adjustments of approximately $3.3 million including $2.1 million in subscription revenue related to a contract with one customer which was deferred in previous years, and $1.2 million of excess amounts reserved against bad debt during the fourth quarter of fiscal 2022. The impact of these adjustments was a $2.1 million increase in service revenue and decrease in contract assets, and a $1.2 million decrease in provision for bad debts and reduction in reserves. RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS In August 2020, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“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): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. Under ASU 2020-06, the embedded conversion features are no longer separated from the host contract for convertible instruments with conversion features that are not required to be accounted for as derivatives under Topic 815, or that do not result in substantial premiums accounted for as paid-in capital. Consequently, a convertible debt instrument will be accounted for as a single liability measured at its amortized cost, as long as no other features require bifurcation and recognition as derivatives. The new guidance also requires the if-converted method to be applied for all convertible instruments. ASU 2020-06 is effective for fiscal years beginning after December 15, 2021, with early adoption permitted. Adoption of the standard requires using either a modified retrospective or a full retrospective approach. Effective April 1, 2022, the Company adopted ASU 2020-06 using the modified retrospective approach. Adoption of the new standard resulted in a decrease to accumulated deficit of $46.7 million, a decrease to additional paid-in capital of $92.8 million, and an increase to convertible senior notes, net of $46.2 million. Interest expense in future periods will be reduced as a result of accounting for the convertible debt instrument as a single liability measured at its amortized cost. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions to U.S. GAAP guidance on contract modifications to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate ("LIBOR"), which is expected to be discontinued, to alternative reference rates. In January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848), which refines the scope of Topic 848 and clarifies some of its guidance. Effective April 1, 2022, the Company adopted ASU 2020-04 on a prospective basis. The impact of the adoption was immaterial to the Company's consolidated financial statements.

REVENUE RECOGNITION

REVENUE RECOGNITION	3 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION Disaggregation of Revenue The Company disaggregates its revenue by geographic region. See Note 11 . Geographical Information . Contract Balances The following table provides amounts of receivables, contract assets, and deferred revenue from contracts with customers: June 30, 2022 March 31, 2022 Accounts receivable, net $ 55,441 $ 57,400 Contract assets, current 11,402 10,514 Contract assets, non-current 13,574 15,171 Deferred revenue, current 34,064 34,262 Deferred revenue, non-current 11,023 11,430 Contract assets, current, contract assets, non-current, deferred revenue, current and deferred revenue, non-current are recorded on the Consolidated Balance Sheets in Other current assets , Other assets , and Other liabilities, non-current , respectively. During the three months ended June 30, 2022, the Company recognized revenues of approximately $43.6 million that were included in deferred revenue at the beginning of the fiscal year. Remaining Performance Obligations The Company's subscription terms typically range from one For purposes of this disclosure, the Company excludes contracts with an original expected length of less than one year. Since the new and renewal contracts entered into with customers are generally for terms of one year or longer, updating this disclosure to include contracts with a term of one year or more presents a more appropriate measure of the Company's remaining performance obligations. Deferred Sales Commission Costs Amortization of deferred sales commission costs for the three months ended June 30, 2022 and 2021 was $9.2 million and $8.2 million, respectively. There were no material write-offs during the three months ended June 30, 2022 and 2021.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Cash, cash equivalents, and available-for-sale investments were as follows: As of June 30, 2022 Amortized Gross Gross Estimated Cash and Restricted Cash Short-Term Long-Term Cash $ 77,885 $ — $ — $ 77,885 $ 77,885 $ — $ — $ — Level 1: Money market funds 8,003 — — 8,003 8,003 — — — Treasury securities 3,157 — (6) 3,151 — — 3,151 — Subtotal 89,045 — (6) 89,039 85,888 — 3,151 — Level 2: Certificate of deposit 1,408 — — 1,408 — 1,408 — — Commercial paper 24,604 — (30) 24,574 6,798 — 17,776 — Corporate debt 28,232 2 (216) 28,018 — — 28,018 — Subtotal 54,244 2 (246) 54,000 6,798 1,408 45,794 — Total assets $ 143,289 $ 2 $ (252) $ 143,039 $ 92,686 $ 1,408 $ 48,945 $ — As of March 31, 2022 Amortized Gross Gross Estimated Cash and Restricted Cash Short-Term Long-Term Cash $ 70,095 $ — $ — $ 70,095 $ 70,095 $ — $ — $ — Level 1: Money market funds 12,865 — — 12,865 12,865 — — — Treasury securities 4,573 — (7) 4,566 — — 4,566 — Subtotal 87,533 — (7) 87,526 82,960 — 4,566 — Level 2: Certificate of deposit 9,509 — — 9,509 — 9,509 — — Commercial paper 23,950 — (34) 23,916 800 — 16,471 — Corporate debt 27,442 — (163) 27,279 7,445 — 23,808 2,671 Subtotal 60,901 — (197) 60,704 8,245 9,509 40,279 2,671 Total assets $ 148,434 $ — $ (204) $ 148,230 $ 91,205 $ 9,509 $ 44,845 $ 2,671 Certificate of deposit represents the Company's letters of credit securing leases for office facilities, the balance of which is included in Restricted cash, current and Restricted cash, non-current on the Company's Consolidated Balance Sheet. The Company considers its investments available to support its current operations and has classified investments in debt securities as available-for-sale securities. The Company does not intend to sell any of its investments that are in unrealized loss positions and, as of June 30, 2022, has determined that it is not more likely than not that it will be required to sell any of these investments before recovery of the entire amortized cost basis. The Company regularly reviews the changes to the rating of its securities at the individual security level by rating agencies and reasonably monitors the surrounding economic conditions to assess the risk of expected credit losses. As of June 30, 2022, the Company did not record any allowance for credit losses on its investments. As of June 30, 2022 and March 31, 2022, the estimated fair value of the Company's Notes was $427.7 million and $470.5 million, respectively, which was determined based on the closing price for the Notes on the last trading day of the reporting period and is considered to be Level 2 in the fair value hierarchy due to limited trading activity of the Notes. See Note 7, Convertible Senior Notes and Capped Call.

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL	3 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND GOODWILL	INTANGIBLE ASSETS AND GOODWILL The carrying value of intangible assets consisted of the following: June 30, 2022 March 31, 2022 Gross Accumulated Net Carrying Gross Accumulated Net Carrying Technology $ 46,714 $ (22,208) $ 24,506 $ 46,727 $ (19,852) $ 26,875 Customer relationships 105,821 (7,865) 97,956 105,827 (4,889) 100,938 Trade names and domains 580 (305) 275 583 (183) 400 Total acquired identifiable intangible assets $ 153,115 $ (30,378) $ 122,737 $ 153,137 $ (24,924) $ 128,213 As of June 30, 2022, the weighted average remaining useful life for technology, customer relationships, and trade names and domains was 3.0 years, 8.5 years, and 0.8 years, respectively. As of June 30, 2022, annual amortization of intangible assets, based upon existing intangible assets and current useful lives, is estimated to be the following: Amount 2023 $ 15,625 2024 20,395 2025 19,095 2026 13,895 2027 and thereafter 53,727 Total $ 122,737 The following table provides a summary of the changes in the carrying amounts of goodwill: Amount Balance at March 31, 2022 $ 266,867 Additions due to acquisitions — Foreign currency translation (1,838) Balance at June 30, 2022 $ 265,029

LEASES

LEASES	3 Months Ended
	Jun. 30, 2022
Leases [Abstract]
LEASES	LEASES Operating Leases The following table provides balance sheet information related to operating leases: June 30, 2022 March 31, 2022 Assets Operating lease, right-of-use assets $ 59,859 $ 63,415 Liabilities Operating lease liabilities, current $ 14,424 $ 15,485 Operating lease liabilities, non-current 71,806 74,518 Total operating lease liabilities $ 86,230 $ 90,003 The components of lease expense were as follows: Three Months Ended June 30, 2022 2021 Operating lease expense $ 3,121 $ 3,459 Variable lease expense $ 1,587 $ 750 Short-term lease expense was immaterial during the three months ended June 30, 2022 and 2021. Cash outflows from operating leases were $4.8 million and $4.2 million, respectively, for the three months ended June 30, 2022 and 2021. The following table presents supplemental lease information: June 30, 2022 March 31, 2022 Weighted average remaining lease term 7.3 years 7.4 years Weighted average discount rate 4.0% 4.0% The following table presents maturity of lease liabilities under the Company's non-cancellable operating leases as of June 30, 2022: 2023 $ 15,380 2024 13,639 2025 12,481 2026 11,292 2027 10,008 Thereafter 37,350 Total lease payments 100,150 Less: imputed interest (13,920) Present value of lease liabilities $ 86,230 Lease Assignment

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Indemnifications In the normal course of business, the Company may agree to indemnify other parties, including customers, lessors, and parties to other transactions with the Company with respect to certain matters, such as breaches of representations or covenants or intellectual property infringement or other claims made by third parties. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim. In addition, the Company has entered into indemnification agreements with its officers and directors. It is not possible to determine the maximum potential amount of the Company's exposure under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Historically, payments made by the Company under these agreements have not had a material impact on the Company's operating results, financial position, or cash flows. Under some of these agreements, however, the Company's potential indemnification liability may not have a contractual limit. Operating Leases The Company's lease obligations consist of the Company's principal facility and various leased facilities under operating lease agreements. See Note 5. Leases for more information on the Company's leases and the future minimum lease payments. Purchase Obligations The Company's purchase obligations include contracts with third-party customer support vendors and third-party network service providers. These contracts include minimum monthly commitments and the requirements to maintain the service level for several months. Legal Proceedings The Company may be involved in various claims, lawsuits, investigations, and other legal proceedings, including intellectual property, commercial, regulatory compliance, securities, and employment matters that arise in the normal course of business. The Company determines whether an estimated loss from a contingency should be accrued by assessing whether a loss is deemed probable and can be reasonably estimated. The Company regularly evaluates current information to determine whether any accruals should be adjusted and whether new accruals are required. Actual claims could settle or be adjudicated against the Company in the future for materially different amounts than the Company has accrued due to the inherently unpredictable nature of litigation. Legal costs are expensed as incurred. The Company believes it has recorded adequate provisions for any such lawsuits and claims and proceedings as of June 30, 2022. The Company believes that damage amounts claimed in these matters are not meaningful indicators of potential liability. Some of the matters pending against the Company involve potential compensatory, punitive, or treble damage claims or sanctions, that, if granted, could require the Company to pay damages or make other expenditures in amounts that could have a material adverse effect on its Consolidated Financial Statements. Given the inherent uncertainties of litigation, the ultimate outcome of the ongoing matters described herein cannot be predicted, and the Company believes it has valid defenses with respect to the legal matters pending against it. Nevertheless, the Consolidated Financial Statements could be materially adversely affected in a particular period by the resolution of one or more of these contingencies. Wage and Hour Litigation . On September 21, 2020, the Company received a copy of a letter filed by a former employee, Plaintiff Denise Rivas, with the California Labor and Workforce Development Agency (“LWDA”) providing notice of the Plaintiff’s intent to bring a Private Attorney General Act (“PAGA”) claim, on behalf of the Company’s non-exempt employees based in California, for alleged California wage and hour practices violations. On September 25, 2020, the Plaintiff filed a separate class action complaint (the “Class Complaint”) in Santa Clara County Superior Court against the Company in which she alleges 10 causes of action, on behalf of herself and all of the Company’s non-exempt employees based in California for the last four years, related to violations of California state wage and hour practices and the federal Fair Credit Reporting Act. The Class Complaint was served on the Company on September 29, 2020. On October 28, 2020, the Company filed a general denial of all claims and asserted various affirmative defenses. On October 29, 2020, the Company removed the matter to Federal Court. On December 1, 2020, Plaintiff filed a companion PAGA lawsuit complaint (the “PAGA Complaint”) in Santa Clara County Superior Court against the Company, in which she alleges 6 violations of California state wage and hour practices for all of the Company's current and former non-exempt employees based in California from September 16, 2019 to the present. The PAGA Complaint was served on the Company on December 11, 2020. On January 26, 2021, the Company filed a general denial of all claims and asserted various affirmative defenses to the PAGA Complaint. Both actions were scheduled for a joint mediation in September 2021, and discovery was stayed in both actions pending completion of the mediation. A joint mediation for both actions was held in September 2021 and the parties reached a preliminary settlement of all claims, which was finalized on November 23, 2021. The parties have remanded the Class Complaint matter to Santa Clara County Superior Court in order to consolidate the matter with the PAGA Complaint matter for court approval and administration of the settlement. Plaintiff has filed an unopposed motion for preliminary approval of the settlement on May 17, 2022, and the court issued an order preliminarily approving the settlement on June 13, 2022. The parties are proceeding to gather and provide class list information to the administrator for administration of the settlement.

CONVERTIBLE SENIOR NOTES AND CA

CONVERTIBLE SENIOR NOTES AND CAPPED CALLS	3 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
CONVERTIBLE SENIOR NOTES AND CAPPED CALLS	CONVERTIBLE SENIOR NOTES AND CAPPED CALLS Convertible Senior Notes In February 2019, the Company issued $287.5 million aggregate principal amount of 0.50% convertible senior notes (the "Initial Notes") due 2024 in a private placement, including the exercise in full of the initial purchasers' option to purchase additional notes. The total net proceeds from the debt offering, after deducting initial purchase discounts, debt issuance costs, and costs of the capped call transactions described below, were approximately $245.8 million. In November 2019, the Company issued an additional $75.0 million aggregate principal amount of 0.50% convertible senior notes (the "First Additional Notes") due 2024 in a registered offering under the same indenture as the Initial Notes. The total net proceeds from the First Additional Notes, after deducting underwriting discounts, debt issuance costs and costs of the capped call transactions described below, were approximately $64.6 million. In December 2021, the Company issued an additional $137.5 million aggregate principal amount of its currently outstanding 0.50% convertible senior notes (the "Second Additional Notes", and together with the Initial Notes and the First Additional Notes, the "Notes") due 2024 in a private placement under the same indenture as the Initial Notes and the First Additional Notes. The total net proceeds from the Second Additional Notes, after deducting initial purchase discounts and debt issuance costs, were approximately $134.3 million. The Company did not enter into any capped calls in connection with this transaction. Both the First Additional Notes and Second Additional Notes constitute a further issuance of, and form a single series with, the Initial Notes. Immediately after giving effect to the issuance of the Second Additional Notes, the Company had $500.0 million aggregate principal amount of convertible senior notes. The Notes are senior unsecured obligations of the Company and interest is payable semiannually in arrears on February 1 and August 1 of each year, beginning on August 1, 2019. The Notes will mature on February 1, 2024, unless earlier repurchased, redeemed, or converted. Each $1,000 principal amount of the Notes is initially convertible into 38.9484 shares of the Company’s common stock, par value $0.001, which is equivalent to an initial conversion price of approximately $25.68 per share. The conversion rate is subject to adjustment upon the occurrence of certain specified events but will not be adjusted for any accrued and unpaid interest. In addition, upon the occurrence of certain corporate events that occur prior to the maturity date or following the Company's issuance of a notice of redemption, in each case as described in the Indenture, the Company will, in certain circumstances, increase the conversion rate for a holder that elects to convert its Notes in connection with such a corporate event or during the relevant redemption period. Prior to the close of business on the business day immediately preceding October 1, 2023, the Notes will be convertible only under the following circumstances: 1. At any time during any calendar quarter commencing after the fiscal quarter ending on June 30, 2019 (and only during such calendar quarter), if the last reported sale price of the common stock for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; 2. During the five business day period immediately after any ten consecutive trading day period (the measurement period), if the trading price per $1,000 principal amount of the Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the common stock on each such trading day and the conversion rate on each such trading day; 3. If the Company calls any or all of the Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date; or 4. Upon the occurrence of specified corporate events (as set forth in the indenture governing the Notes). On or after October 1, 2023, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert all or any portion of their Notes, regardless of the foregoing circumstances. Upon conversion, the Company will satisfy its conversion obligation by paying or delivering, as the case may be, cash, shares of common stock, or a combination of cash and shares of common stock, at the Company's election. The Company’s current intent is to settle the principal amount of the Notes in cash upon conversion. During the three months ended June 30, 2022, the conditions allowing holders of the Notes to convert were not met. Under the terms of the Notes, the Company could 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, 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 following table presents the net carrying amount and fair value of the liability component of the Notes: June 30, 2022 March 31, 2022 Principal $ 500,000 $ 500,000 Unamortized debt discount (1) and issuance costs (5,556) (52,548) Net carrying amount $ 494,444 $ 447,452 ( 1) The debt discount as of March 31, 2022 represents the discount resulting from the allocation of the equity component (conversion option) from the liability component of the Notes, net of issuance premium, prior to the adoption of ASU 2020-06 on April 1, 2022. Upon the adoption of ASU 2020-06, the equity component was reversed. As a result, June 30, 2022 debt discount represents only the issuance premium, which net against the issuance costs on the same line. Prior to April 1, 2022, the Company accounted for the Notes as separate liability and equity components. On issuance, the carrying amount of the equity components was recorded as a debt discount and subsequently amortized to interest expense. Effective April 1, 2022, we adopted ASU 2020-06 using the modified retrospective approach. As a result, the Notes are accounted for as a single liability measured at its amortized cost, as no other embedded features require bifurcation and recognition as derivatives. Adoption of the new standard resulted in a decrease to accumulated deficit of $46.7 million, a decrease to additional paid-in capital of $92.8 million, and an increase to convertible senior notes, net of $46.2 million. The Notes have no original issuance discounts . Unamortized debt discount and issuance costs will be amortized over the remaining life of the Notes, which is approximately 19 months. Interest expense recognized related to the Notes was as follows: For the three months ended June 30, 2022 2021 Contractual interest expense $ 625 $ 453 Amortization of debt discount and issuance costs 831 4,393 Total interest expense $ 1,456 $ 4,846 Capped Calls In connection with the pricing of the Initial and First Additional Notes, the Company entered into privately negotiated capped call transactions (the "Capped Calls") with certain counterparties. The Capped Calls each have an initial strike price of approximately $25.68 per share, subject to certain adjustments, which correspond to the initial conversion price of the Initial and First Additional Notes. The Capped Calls have initial cap prices of $39.50 per share, subject to certain adjustments. The Capped Calls are expected to partially offset the potential dilution to the Company’s Common Stock upon any conversion of the Initial and First Additional Notes, with such offset subject to a cap based on the cap price. The Capped Calls cover, subject to anti-dilution adjustments, approximately 14.1 million shares of the Company’s Common Stock. The Capped Calls are subject to adjustment upon the occurrence of specified extraordinary events affecting the Company, including merger events, tender offers, and announcement events. In addition, the Capped Calls are subject to certain specified additional disruption events that may give rise to a termination of the Capped Calls, including nationalization, insolvency or delisting, changes in law, failures to deliver, insolvency filings, and hedging disruptions. For accounting purposes, the Capped Calls are separate transactions, and not part of the terms of the Initial and First Additional Notes. As these transactions meet certain accounting criteria, the Capped Calls are recorded in stockholders' equity and are not accounted for as derivatives. The Capped Calls will not be remeasured as long as they continue to meet the conditions for equity classification.

STOCK-BASED COMPENSATION AND ST

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY	3 Months Ended
	Jun. 30, 2022
Equity [Abstract]
STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY	STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY 2012 Equity Incentive Plan In June 2012, the Company's board of directors approved the 2012 Equity Incentive Plan (the "2012 Plan"). The Company's stockholders subsequently adopted the 2012 Plan in July 2012, which became effective in August 2012. The Company reserved 4.1 million shares of the Company's common stock for issuance under this plan. In August 2014, 2016, 2018 and 2019, the 2012 Plan was amended to allow for an additional 6.8 million shares, 4.5 million shares, 16.3 million shares, and 12.0 million shares reserved for issuance, respectively. The 2012 Plan provided for granting incentive stock options to employees and non-statutory stock options to employees, directors or consultants, and granting of stock appreciation rights, restricted stock, restricted stock units and performance units, qualified performance-based awards, and stock grants. The stock option price of incentive stock options granted could not be less than the fair market value on the effective date of the grant. Options, restricted stock, and restricted stock units generally vest over three 2017 New Employee Inducement Incentive Plan For details on the 2017 New Employee Inducement Incentive Plan ("2017 Plan"), please refer to the Form 10-K. No grants were made under the 2017 Plan during the three months ended June 30, 2022. As of June 30, 2022, 1.8 million shares remained available for future grants under the 2017 Plan. Stock-Based Compensation The following table presents stock-based compensation expense ( dollars in thousands ): Three Months Ended June 30, 2022 2021 Cost of service revenue $ 2,664 $ 1,968 Cost of other revenue 1,111 1,071 Research and development 8,044 8,698 Sales and marketing 8,107 14,326 General and administrative 7,888 10,524 Total $ 27,814 $ 36,587 Stock Options The following table presents the stock option activity ( shares in thousands ): Number of Weighted Average Exercise Price Per Share Outstanding at March 31, 2022 867 $ 10.67 Exercised (11) 5.87 Canceled/Forfeited (2) 22.25 Outstanding at June 30, 2022 854 $ 10.71 Vested and expected to vest June 30, 2022 854 $ 10.71 Exercisable at June 30, 2022 852 $ 10.69 The total intrinsic value of options exercised in the three months ended June 30, 2022 and 2021 was $40.0 thousand and $9.1 million respectively. As of June 30, 2022, there was $14.0 thousand of total unrecognized compensation cost related to stock options, which is expected to be recognized over a weighted average period of approximately 0.3 years. The Company did not grant any stock options during the three months ended June 30, 2022 and 2021. The fair value of each of the Company's option grants has been estimated on the date of grant using the Black-Scholes pricing model. No option grants were made in the three months ended June 30, 2022 and 2021. Stock Purchase Rights There were no activities related to stock purchase rights during the three months ended June 30, 2022 and 2021. As of June 30, 2022, there was no unrecognized compensation cost related to stock purchase rights. Restricted Stock Units The following table presents the RSU activity ( shares in thousands ): Number of Weighted Weighted Average Balance at March 31, 2022 9,375 $ 20.41 2.11 Granted 8,528 6.36 Vested and released (1,657) 21.00 Forfeited (780) 17.94 Balance at June 30, 2022 15,466 $ 12.72 1.27 As of June 30, 2022, there was $130.7 million of total unrecognized compensation cost related to RSUs. Performance Stock Units PSUs are issued to a group of executives with vesting that is contingent on both market performance and continued service. The PSUs generally vest over periods ranging from one The following table presents the PSU activity (shares in thousands) : Number of Weighted Weighted Average Balance at March 31, 2022 1,026 $ 35.36 0.89 Granted 720 7.71 Granted for performance achievement 1 — — Vested and released (128) 25.65 Forfeited (354) 37.65 Balance at June 30, 2022 1,264 $ 19.96 1.86 1 Represents additional PSUs awarded as a result of the achievement of performance goals above the performance targets established at grant. As of June 30, 2022, th ere was $32.1 million of total unrecognized compensation cost related to PSUs. Employee Stock Purchase Plan ("ESPP") As of June 30, 2022, there was approximately $1.7 million of unrecognized compensation cost related to employee stock purchases. This cost is expected to be recognized over a weighted average period of 0.3 years. As of June 30, 2022, a total of 1.0 million shares were available for issuance under the ESPP. Stock Repurchases There were no stock repurchases during the three months ended June 30, 2022 and 2021.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXESThe Company's effective tax rate was (1.6)% and (0.6)% for the three months ended June 30, 2022 and 2021, respectively. The difference in the effective tax rate and the U.S. federal statutory rate was primarily due to the full valuation allowance the Company maintains against its deferred tax assets. The effective tax rate is calculated by dividing the Provision for income taxes by the Loss before provision for income taxes.

NET LOSS PER SHARE

NET LOSS PER SHARE	3 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
NET LOSS PER SHARE	NET LOSS PER SHARE The following is a reconciliation of the weighted average number of common shares outstanding used in calculating basic and diluted net loss per share ( dollars in thousands, except per share data ): Three Months Ended June 30, 2022 2021 Net loss $ (26,043) $ (43,906) Weighted average common shares outstanding - basic and diluted (in thousands) 119,721 109,925 Net loss per share - basic and diluted $ (0.22) $ (0.40) The following potentially dilutive common shares were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive ( shares in thousands ): Three Months Ended June 30, 2022 2021 Stock options 854 1,413 Restricted stock units and Performance stock units 16,731 12,483 Potential shares attributable to the ESPP 1,047 444 Total anti-dilutive shares 18,632 14,340

GEOGRAPHICAL INFORMATION

GEOGRAPHICAL INFORMATION	3 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
GEOGRAPHICAL INFORMATION	GEOGRAPHICAL INFORMATION The following tables set forth the geographic information for each period ( dollars in thousands ): Three Months Ended June 30, 2022 2021 United States $ 136,120 $ 103,658 International 51,500 44,669 Total revenue $ 187,620 $ 148,327 Property and Equipment as of June 30, 2022 March 31, 2022 United States $ 69,469 $ 73,967 International 4,407 5,049 Total property and equipment, net $ 73,876 $ 79,016

ACQUISITIONS

ACQUISITIONS	3 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	ACQUISITIONS Fuze On January 18, 2022, the Company acquired 100% of the outstanding shares of common stock of Fuze, Inc. for a total consideration of $213.8 million, which consisted of $132.9 million in cash and $80.9 million in shares of common stock of the Company, of which, approximately $1.3 million in cash and up to 1,153,523 shares were held back as part of the merger agreement, and 346,053 shares were held back (pursuant to indemnity obligations) and reserved for later issuance. Subsequently, in May 2022, the approximately $1.3 million in cash held back was released as part of the working capital adjustment. The results of Fuze, Inc.’s operations have been included in the Company's consolidated financial statements, including $29.5 million of revenue in the first quarter of fiscal 2023.

THE COMPANY AND SIGNIFICANT A_2

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
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 ("U.S. GAAP") and regulations of the Securities and Exchange Commission ("SEC") regarding interim financial reporting. Accordingly, certain information and disclosures normally included in the Company's annual consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. 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, 2022, and notes thereto included in the Form 10-K. There were no material changes during the three months ended June 30, 2022, to the Company's significant accounting policies as described in the Form 10-K. 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. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for any subsequent quarter or for the entire year ending March 31, 2023. All dollar amounts herein are in thousands of United States Dollars ("Dollars") unless otherwise noted.
Use of Estimates	The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and equity, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates, including, but not limited to, those related to current expected credit losses, returns reserve for expected cancellations, fair value of and/or potential impairment of goodwill and intangible assets, capitalized internal-use software costs, benefit period for deferred commissions, stock-based compensation, incremental borrowing rate used to calculate operating lease liabilities, income and sales tax liabilities, convertible senior notes fair value, litigation, and other contingencies. The Company bases its estimates on known facts and circumstances, historical experience, and various other assumptions. Actual results could differ from those estimates under different assumptions or conditions.
Recently Adopted Accounting Pronouncements	In August 2020, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“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): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. Under ASU 2020-06, the embedded conversion features are no longer separated from the host contract for convertible instruments with conversion features that are not required to be accounted for as derivatives under Topic 815, or that do not result in substantial premiums accounted for as paid-in capital. Consequently, a convertible debt instrument will be accounted for as a single liability measured at its amortized cost, as long as no other features require bifurcation and recognition as derivatives. The new guidance also requires the if-converted method to be applied for all convertible instruments. ASU 2020-06 is effective for fiscal years beginning after December 15, 2021, with early adoption permitted. Adoption of the standard requires using either a modified retrospective or a full retrospective approach. Effective April 1, 2022, the Company adopted ASU 2020-06 using the modified retrospective approach. Adoption of the new standard resulted in a decrease to accumulated deficit of $46.7 million, a decrease to additional paid-in capital of $92.8 million, and an increase to convertible senior notes, net of $46.2 million. Interest expense in future periods will be reduced as a result of accounting for the convertible debt instrument as a single liability measured at its amortized cost. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions to U.S. GAAP guidance on contract modifications to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate ("LIBOR"), which is expected to be discontinued, to alternative reference rates. In January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848), which refines the scope of Topic 848 and clarifies some of its guidance. Effective April 1, 2022, the Company adopted ASU 2020-04 on a prospective basis. The impact of the adoption was immaterial to the Company's consolidated financial statements.
Indemnifications	Indemnifications In the normal course of business, the Company may agree to indemnify other parties, including customers, lessors, and parties to other transactions with the Company with respect to certain matters, such as breaches of representations or covenants or intellectual property infringement or other claims made by third parties. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim. In addition, the Company has entered into indemnification agreements with its officers and directors. It is not possible to determine the maximum potential amount of the Company's exposure under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Historically, payments made by the Company under these agreements have not had a material impact on the Company's operating results, financial position, or cash flows. Under some of these agreements, however, the Company's potential indemnification liability may not have a contractual limit.

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	3 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Contract Balances	The following table provides amounts of receivables, contract assets, and deferred revenue from contracts with customers: June 30, 2022 March 31, 2022 Accounts receivable, net $ 55,441 $ 57,400 Contract assets, current 11,402 10,514 Contract assets, non-current 13,574 15,171 Deferred revenue, current 34,064 34,262 Deferred revenue, non-current 11,023 11,430

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurements	Cash, cash equivalents, and available-for-sale investments were as follows: As of June 30, 2022 Amortized Gross Gross Estimated Cash and Restricted Cash Short-Term Long-Term Cash $ 77,885 $ — $ — $ 77,885 $ 77,885 $ — $ — $ — Level 1: Money market funds 8,003 — — 8,003 8,003 — — — Treasury securities 3,157 — (6) 3,151 — — 3,151 — Subtotal 89,045 — (6) 89,039 85,888 — 3,151 — Level 2: Certificate of deposit 1,408 — — 1,408 — 1,408 — — Commercial paper 24,604 — (30) 24,574 6,798 — 17,776 — Corporate debt 28,232 2 (216) 28,018 — — 28,018 — Subtotal 54,244 2 (246) 54,000 6,798 1,408 45,794 — Total assets $ 143,289 $ 2 $ (252) $ 143,039 $ 92,686 $ 1,408 $ 48,945 $ — As of March 31, 2022 Amortized Gross Gross Estimated Cash and Restricted Cash Short-Term Long-Term Cash $ 70,095 $ — $ — $ 70,095 $ 70,095 $ — $ — $ — Level 1: Money market funds 12,865 — — 12,865 12,865 — — — Treasury securities 4,573 — (7) 4,566 — — 4,566 — Subtotal 87,533 — (7) 87,526 82,960 — 4,566 — Level 2: Certificate of deposit 9,509 — — 9,509 — 9,509 — — Commercial paper 23,950 — (34) 23,916 800 — 16,471 — Corporate debt 27,442 — (163) 27,279 7,445 — 23,808 2,671 Subtotal 60,901 — (197) 60,704 8,245 9,509 40,279 2,671 Total assets $ 148,434 $ — $ (204) $ 148,230 $ 91,205 $ 9,509 $ 44,845 $ 2,671

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL (Tables)	3 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Acquired Finite-Lived Intangible Assets by Major Class	The carrying value of intangible assets consisted of the following: June 30, 2022 March 31, 2022 Gross Accumulated Net Carrying Gross Accumulated Net Carrying Technology $ 46,714 $ (22,208) $ 24,506 $ 46,727 $ (19,852) $ 26,875 Customer relationships 105,821 (7,865) 97,956 105,827 (4,889) 100,938 Trade names and domains 580 (305) 275 583 (183) 400 Total acquired identifiable intangible assets $ 153,115 $ (30,378) $ 122,737 $ 153,137 $ (24,924) $ 128,213
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	As of June 30, 2022, annual amortization of intangible assets, based upon existing intangible assets and current useful lives, is estimated to be the following: Amount 2023 $ 15,625 2024 20,395 2025 19,095 2026 13,895 2027 and thereafter 53,727 Total $ 122,737
Schedule of Goodwill	The following table provides a summary of the changes in the carrying amounts of goodwill: Amount Balance at March 31, 2022 $ 266,867 Additions due to acquisitions — Foreign currency translation (1,838) Balance at June 30, 2022 $ 265,029

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Schedule of Assets and Liabilities, Leases	The following table provides balance sheet information related to operating leases: June 30, 2022 March 31, 2022 Assets Operating lease, right-of-use assets $ 59,859 $ 63,415 Liabilities Operating lease liabilities, current $ 14,424 $ 15,485 Operating lease liabilities, non-current 71,806 74,518 Total operating lease liabilities $ 86,230 $ 90,003
Schedule of Lease, Cost	The components of lease expense were as follows: Three Months Ended June 30, 2022 2021 Operating lease expense $ 3,121 $ 3,459 Variable lease expense $ 1,587 $ 750 The following table presents supplemental lease information: June 30, 2022 March 31, 2022 Weighted average remaining lease term 7.3 years 7.4 years Weighted average discount rate 4.0% 4.0%
Schedule of Lessee, Operating Leases, Liability, Maturity	The following table presents maturity of lease liabilities under the Company's non-cancellable operating leases as of June 30, 2022: 2023 $ 15,380 2024 13,639 2025 12,481 2026 11,292 2027 10,008 Thereafter 37,350 Total lease payments 100,150 Less: imputed interest (13,920) Present value of lease liabilities $ 86,230

CONVERTIBLE SENIOR NOTES AND _2

CONVERTIBLE SENIOR NOTES AND CAPPED CALLS (Tables)	3 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Convertible Debt	The following table presents the net carrying amount and fair value of the liability component of the Notes: June 30, 2022 March 31, 2022 Principal $ 500,000 $ 500,000 Unamortized debt discount (1) and issuance costs (5,556) (52,548) Net carrying amount $ 494,444 $ 447,452 ( 1) The debt discount as of March 31, 2022 represents the discount resulting from the allocation of the equity component (conversion option) from the liability component of the Notes, net of issuance premium, prior to the adoption of ASU 2020-06 on April 1, 2022. Upon the adoption of ASU 2020-06, the equity component was reversed. As a result, June 30, 2022 debt discount represents only the issuance premium, which net against the issuance costs on the same line.
Interest Income and Interest Expense Disclosure	Interest expense recognized related to the Notes was as follows: For the three months ended June 30, 2022 2021 Contractual interest expense $ 625 $ 453 Amortization of debt discount and issuance costs 831 4,393 Total interest expense $ 1,456 $ 4,846

STOCK-BASED COMPENSATION AND _2

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY (Tables)	3 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs	The following table presents stock-based compensation expense ( dollars in thousands ): Three Months Ended June 30, 2022 2021 Cost of service revenue $ 2,664 $ 1,968 Cost of other revenue 1,111 1,071 Research and development 8,044 8,698 Sales and marketing 8,107 14,326 General and administrative 7,888 10,524 Total $ 27,814 $ 36,587
Disclosure of Share-Based Compensation Arrangements By Share-Based Payment Award	The following table presents the stock option activity ( shares in thousands ): Number of Weighted Average Exercise Price Per Share Outstanding at March 31, 2022 867 $ 10.67 Exercised (11) 5.87 Canceled/Forfeited (2) 22.25 Outstanding at June 30, 2022 854 $ 10.71 Vested and expected to vest June 30, 2022 854 $ 10.71 Exercisable at June 30, 2022 852 $ 10.69 The following table presents the RSU activity ( shares in thousands ): Number of Weighted Weighted Average Balance at March 31, 2022 9,375 $ 20.41 2.11 Granted 8,528 6.36 Vested and released (1,657) 21.00 Forfeited (780) 17.94 Balance at June 30, 2022 15,466 $ 12.72 1.27 The following table presents the PSU activity (shares in thousands) : Number of Weighted Weighted Average Balance at March 31, 2022 1,026 $ 35.36 0.89 Granted 720 7.71 Granted for performance achievement 1 — — Vested and released (128) 25.65 Forfeited (354) 37.65 Balance at June 30, 2022 1,264 $ 19.96 1.86 1

NET LOSS PER SHARE (Tables)

NET LOSS PER SHARE (Tables)	3 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Net Income Per Share	The following is a reconciliation of the weighted average number of common shares outstanding used in calculating basic and diluted net loss per share ( dollars in thousands, except per share data ): Three Months Ended June 30, 2022 2021 Net loss $ (26,043) $ (43,906) Weighted average common shares outstanding - basic and diluted (in thousands) 119,721 109,925 Net loss per share - basic and diluted $ (0.22) $ (0.40)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following potentially dilutive common shares were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive ( shares in thousands ): Three Months Ended June 30, 2022 2021 Stock options 854 1,413 Restricted stock units and Performance stock units 16,731 12,483 Potential shares attributable to the ESPP 1,047 444 Total anti-dilutive shares 18,632 14,340

GEOGRAPHICAL INFORMATION (Table

GEOGRAPHICAL INFORMATION (Tables)	3 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables set forth the geographic information for each period ( dollars in thousands ): Three Months Ended June 30, 2022 2021 United States $ 136,120 $ 103,658 International 51,500 44,669 Total revenue $ 187,620 $ 148,327
Long-lived Assets by Geographic Areas	Property and Equipment as of June 30, 2022 March 31, 2022 United States $ 69,469 $ 73,967 International 4,407 5,049 Total property and equipment, net $ 73,876 $ 79,016

THE COMPANY AND SIGNIFICANT A_3

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2022 USD ($) segment	Jun. 30, 2021 USD ($)	Mar. 31, 2022 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of reportable segments | segment	1
Revenue	$ 187,620	$ 148,327
Allowance for credit losses	695	383
Accumulated deficit	(745,809)		$ (766,438)
Additional paid-in capital	895,602		956,599
Service
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue	179,161	$ 137,796
Revision of Prior Period, Error Correction, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Out of period adjustments amount	3,300
Allowance for credit losses	1,200
Decrease in contract assets	2,100
Reduction in reserves	1,200
Revision of Prior Period, Error Correction, Adjustment | Service
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue	$ 2,100
Revision of Prior Period, Accounting Standards Update, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accumulated deficit			46,700
Additional paid-in capital			92,800
Senior notes			$ 46,200

REVENUE RECOGNITION - Contract

REVENUE RECOGNITION - Contract Balances (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 55,441	$ 57,400
Contract assets, current	11,402	10,514
Contract assets, non-current	13,574	15,171
Deferred revenue, current	34,064	34,262
Deferred revenue, non-current	$ 11,023	$ 11,430

REVENUE RECOGNITION - Narrative

REVENUE RECOGNITION - Narrative (Details) - USD ($)	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Contract with customer, liability, revenue recognized	$ 43,600,000
Capitalized contract cost, amortization	9,200,000	$ 8,200,000
Capitalized contract cost, impairment loss	$ 0	$ 0

REVENUE RECOGNITION - Remaining

REVENUE RECOGNITION - Remaining Performance Obligation (Details) $ in Millions	3 Months Ended
	Jun. 30, 2022 USD ($)
Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Subscription term	1 year
Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Subscription term	5 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 700
Revenue, remaining performance obligation, percentage	80%
Revenue, remaining performance obligation, expected timing of satisfaction, period	36 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	20%
Revenue, remaining performance obligation, expected timing of satisfaction, period

FAIR VALUE MEASUREMENTS - Cash,

FAIR VALUE MEASUREMENTS - Cash, Cash Equivalents and Investments with Hierarchy (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 92,686	$ 91,205	$ 109,288
Accumulated gross unrealized gain, before tax	2	0
Accumulated gross unrealized loss, before tax	(252)	(204)
Cash, cash equivalents and debt securities available-for-sale, amortized cost	143,289	148,434
Cash, cash equivalents and debt securities available-for-sale	143,039	148,230
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accumulated gross unrealized gain, before tax	0	0
Accumulated gross unrealized loss, before tax	(6)	(7)
Cash, cash equivalents and debt securities available-for-sale, amortized cost	89,045	87,533
Cash, cash equivalents and debt securities available-for-sale	89,039	87,526
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	54,244	60,901
Accumulated gross unrealized gain, before tax	2	0
Accumulated gross unrealized loss, before tax	(246)	(197)
Debt securities, available-for-sale	54,000	60,704
Cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	77,885	70,095
Cash and cash equivalents, fair value disclosure	77,885	70,095
Money market funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	8,003	12,865
Cash and cash equivalents, fair value disclosure	8,003	12,865
Treasury securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	3,157	4,573
Accumulated gross unrealized gain, before tax	0	0
Accumulated gross unrealized loss, before tax	(6)	(7)
Debt securities, available-for-sale	3,151	4,566
Certificate of deposit | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	1,408	9,509
Cash and cash equivalents, fair value disclosure	1,408	9,509
Accumulated gross unrealized gain, before tax	0	0
Accumulated gross unrealized loss, before tax	0	0
Commercial paper | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	24,604	23,950
Accumulated gross unrealized gain, before tax	0	0
Accumulated gross unrealized loss, before tax	(30)	(34)
Debt securities, available-for-sale	24,574	23,916
Corporate debt | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	28,232	27,442
Accumulated gross unrealized gain, before tax	2	0
Accumulated gross unrealized loss, before tax	(216)	(163)
Debt securities, available-for-sale	28,018	27,279
Cash and Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash, cash equivalents and debt securities available-for-sale	92,686	91,205
Cash and Cash Equivalents | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash, cash equivalents and debt securities available-for-sale	85,888	82,960
Cash and Cash Equivalents | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	6,798	8,245
Cash and Cash Equivalents | Cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	77,885	70,095
Cash and Cash Equivalents | Money market funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	8,003	12,865
Cash and Cash Equivalents | Treasury securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Cash and Cash Equivalents | Certificate of deposit | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Cash and Cash Equivalents | Commercial paper | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	6,798	800
Cash and Cash Equivalents | Corporate debt | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	7,445
Restricted Cash (Current & Non-current)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash, cash equivalents and debt securities available-for-sale	1,408	9,509
Restricted Cash (Current & Non-current) | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash, cash equivalents and debt securities available-for-sale	0	0
Restricted Cash (Current & Non-current) | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	1,408	9,509
Restricted Cash (Current & Non-current) | Cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Restricted Cash (Current & Non-current) | Money market funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Restricted Cash (Current & Non-current) | Treasury securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Restricted Cash (Current & Non-current) | Certificate of deposit | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	1,408	9,509
Restricted Cash (Current & Non-current) | Commercial paper | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Restricted Cash (Current & Non-current) | Corporate debt | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Short-Term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale		44,845
Cash, cash equivalents and debt securities available-for-sale	48,945
Short-Term Investments | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	3,151	4,566
Short-Term Investments | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	45,794	40,279
Short-Term Investments | Treasury securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	3,151	4,566
Short-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	0
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	17,776	16,471
Short-Term Investments | Corporate debt | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	28,018	23,808
Long-Term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale		2,671
Cash, cash equivalents and debt securities available-for-sale	0
Long-Term Investments | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Long-Term Investments | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	2,671
Long-Term Investments | Treasury securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Long-Term Investments | Certificate of deposit | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Long-Term Investments | Commercial paper | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Long-Term Investments | Corporate debt | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	$ 0	$ 2,671

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022
Level 2 | Initial Notes | Convertible Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 427.7	$ 470.5

INTANGIBLE ASSETS AND GOODWILL-

INTANGIBLE ASSETS AND GOODWILL- Schedule Of Intangibles (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 153,115	$ 153,137
Accumulated Amortization	(30,378)	(24,924)
Net Carrying Amount	122,737	128,213
Technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	46,714	46,727
Accumulated Amortization	(22,208)	(19,852)
Net Carrying Amount	24,506	26,875
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	105,821	105,827
Accumulated Amortization	(7,865)	(4,889)
Net Carrying Amount	97,956	100,938
Trade names and domains
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	580	583
Accumulated Amortization	(305)	(183)
Net Carrying Amount	$ 275	$ 400

INTANGIBLE ASSETS AND GOODWIL_2

INTANGIBLE ASSETS AND GOODWILL - Narrative (Details)	3 Months Ended
	Jun. 30, 2022
Technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, remaining amortization period	3 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, remaining amortization period	8 years 6 months
Trade names and domains
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, remaining amortization period	9 months 18 days

INTANGIBLE ASSETS AND GOODWIL_3

INTANGIBLE ASSETS AND GOODWILL - Schedule Of Future Amortization Of Intangibles (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 15,625
2024	20,395
2025	19,095
2026	13,895
2027 and thereafter	53,727
Total	$ 122,737

INTANGIBLE ASSETS AND GOODWIL_4

INTANGIBLE ASSETS AND GOODWILL - Changes in Carrying Amount of Goodwill by Location (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2022 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 266,867
Additions due to acquisitions	0
Foreign currency translation	(1,838)
Goodwill, ending balance	$ 265,029

LEASES - Components of Lease Ri

LEASES - Components of Lease Right-of-Use Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022
Assets
Operating lease, right-of-use assets	$ 59,859	$ 63,415
Liabilities
Operating lease liabilities, current	14,424	15,485
Operating lease liabilities, non-current	71,806	74,518
Total operating lease liabilities	$ 86,230	$ 90,003

LEASES - Operating Lease Expens

LEASES - Operating Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Operating lease expense	$ 3,121	$ 3,459
Variable lease expense	$ 1,587	$ 750

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	May 31, 2022	Mar. 31, 2022
Leases [Abstract]
Operating leases, payments	$ 4,800	$ 4,200
Restricted cash, non-current	$ 818	$ 462	$ 800	$ 818

LEASES - Supplemental Informati

LEASES - Supplemental Information (Details)	Jun. 30, 2022	Mar. 31, 2022
Leases [Abstract]
Weighted average remaining lease term	7 years 3 months 18 days	7 years 4 months 24 days
Weighted average discount rate	4%	4%

LEASES - Maturity of Lease Liab

LEASES - Maturity of Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022
Leases [Abstract]
2023	$ 15,380
2024	13,639
2025	12,481
2026	11,292
2027	10,008
Thereafter	37,350
Total lease payments	100,150
Less: imputed interest	(13,920)
Present value of lease liabilities	$ 86,230	$ 90,003

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022
State and Local Taxes and Surcharges
Lessee, Lease, Description [Line Items]
Accrued contingent indirect tax liabilities	$ 16.7	$ 17.2

CONVERTIBLE SENIOR NOTES AND _3

CONVERTIBLE SENIOR NOTES AND CAPPED CALLS - Narrative (Details) $ / shares in Units, shares in Millions	1 Months Ended			3 Months Ended
	Dec. 31, 2021 USD ($)	Nov. 30, 2019 USD ($)	Feb. 28, 2019 USD ($) d $ / shares shares	Jun. 30, 2022 USD ($)	Apr. 01, 2022 USD ($)	Mar. 31, 2022 USD ($)
Debt Instrument [Line Items]
Accumulated deficit				$ 745,809,000		$ 766,438,000
Additional paid-in capital				(895,602,000)		(956,599,000)
Convertible senior notes, net				494,444,000		447,452,000
Convertible Debt | Accounting Standards Update 2020-06
Debt Instrument [Line Items]
Accumulated deficit					$ 46,700,000
Additional paid-in capital					92,800,000
Convertible senior notes, net					$ 46,200,000
Convertible Debt | Convertible Senior Notes
Debt Instrument [Line Items]
Debt instrument, face value			$ 287,500,000	$ 500,000,000		$ 500,000,000
Debt instrument, interest rate			0.50%
Net proceeds from issuance of convertible senior notes			$ 245,800,000
Debt instrument, convertible, conversion ratio			0.0389484
Common stock, par value per share (in dollars per share) | $ / shares			$ 0.001
Debt instrument, convertible, conversion price (in dollars per share) | $ / shares			$ 25.68
Debt instrument, convertible, threshold trading days | d			20
Debt instrument, convertible, threshold consecutive trading days | d			30
Debt instrument, convertible, threshold percentage of stock price trigger			130%
Debt instrument, convertible, measurement period | d			5
Debt instrument, convertible, threshold consecutive trading days preceding measurement period | d			10
Debt instrument, threshold percentage of sales price per share			98%
Debt instrument, redemption price, percentage			100%
Unamortized debt discount and issuance costs				19 months
Debt instrument, strike price per share (in dollars per share) | $ / shares			$ 25.68
Debt instrument, initial cap price per share (in dollars per share) | $ / shares			$ 39.50
Convertible Debt | Convertible Senior Notes | Call Option
Debt Instrument [Line Items]
Option indexed to issuer's equity, indexed shares (in shares) | shares			14.1
Convertible Debt | First Additional Notes
Debt Instrument [Line Items]
Debt instrument, face value		$ 75,000,000
Debt instrument, interest rate		0.50%
Net proceeds from issuance of convertible senior notes		$ 64,600,000
Convertible Debt | Second Additional Notes
Debt Instrument [Line Items]
Debt instrument, face value	$ 137,500,000
Debt instrument, interest rate	0.50%
Net proceeds from issuance of convertible senior notes	$ 134,300,000
Convertible Debt | Aggregate Notes
Debt Instrument [Line Items]
Debt instrument, face value	$ 500,000,000

CONVERTIBLE SENIOR NOTES AND _4

CONVERTIBLE SENIOR NOTES AND CAPPED CALLS - Carrying Amount of the Liability Component (Details) - Convertible Debt - Convertible Senior Notes - USD ($)	Jun. 30, 2022	Mar. 31, 2022	Feb. 28, 2019
Debt Instrument [Line Items]
Principal	$ 500,000,000	$ 500,000,000	$ 287,500,000
Unamortized debt discount and issuance costs	(5,556,000)	(52,548,000)
Net carrying amount	$ 494,444,000	$ 447,452,000

CONVERTIBLE SENIOR NOTES AND _5

CONVERTIBLE SENIOR NOTES AND CAPPED CALLS - Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022	Mar. 31, 2021
Debt Instrument [Line Items]
Amortization of debt discount and issuance costs	$ 831	$ 4,393
Convertible Debt | Convertible Senior Notes
Debt Instrument [Line Items]
Contractual interest expense			$ 625	$ 453
Amortization of debt discount and issuance costs			831	4,393
Total interest expense			$ 1,456	$ 4,846

STOCK-BASED COMPENSATION AND _3

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY - Narrative (Details) - USD ($)	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2016	Aug. 31, 2014	Jun. 30, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	0	0
Number of shares repurchased (in shares)	0	0
Restricted stock units and Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized stock-based compensation expense	$ 130,700,000
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of options exercised	40,000	$ 9,100,000
Unamortized stock-based compensation expense	$ 14,000
Weighted average period of recognition for unrecognized compensation expense	3 months 18 days
Stock Purchase Right
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized stock-based compensation expense	$ 0
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized stock-based compensation expense	$ 32,100,000
Change in number of shares earned	2%
Maximum percentage of awards to be earned	200%
Total shareholder return performance, lowest percentage to still earn awards	30%
Minimum | Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Maximum | Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
2012 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for future issuance (in shares)							4,100,000
Number of additional shares reserved for future issuance (in shares)			12,000,000	16,300,000	4,500,000	6,800,000
Expiration period	10 years
2012 Plan | Minimum | Restricted stock units and Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
2012 Plan | Maximum | Restricted stock units and Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
2017 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for future grant (in shares)	1,800,000
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for future issuance (in shares)	1,000,000
Employee Stock Purchase Plan | Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized stock-based compensation expense	$ 1,700,000
Weighted average period of recognition for unrecognized compensation expense	3 months 18 days

STOCK-BASED COMPENSATION AND _4

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY - Stock-Based Compensation Expense By Statement Of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	$ 27,814	$ 36,587
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	8,044	8,698
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	8,107	14,326
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	7,888	10,524
Service | Cost of Sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	2,664	1,968
Other revenue | Cost of Sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	$ 1,111	$ 1,071

STOCK-BASED COMPENSATION AND _5

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY - Option Activity (Details) - $ / shares	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Number of Shares
Outstanding, beginning balance (in shares)	867,000
Granted (in shares)	0	0
Exercised (in shares)	(11,000)
Canceled/forfeited (in shares)	(2,000)
Outstanding, ending balance (in shares)	854,000
Vested and expected to vest, end of period (in shares)	854,000
Exercisable, end of period (in shares)	852,000
Weighted Average Exercise Price Per Share
Outstanding, beginning balance (in dollars per share)	$ 10.67
Exercised (in dollars per share)	5.87
Canceled/Forfeited (in dollars per share)	22.25
Outstanding, ending balance (in dollars per share)	10.71
Vested and expected to vest, ending balance (in dollars per share)	10.71
Exercisable, end of period (in dollars per share)	$ 10.69

STOCK-BASED COMPENSATION AND _6

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY - STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY - Restricted Stock Unit and Performance Stock Unit Activity (Details) - $ / shares shares in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2022	Mar. 31, 2022
Restricted stock units and Performance stock units
Number of Shares
Beginning balance (in shares)	9,375
Granted (in shares)	8,528
Vested and released (in shares)	(1,657)
Forfeited (in shares)	(780)
Ending balance (in shares)	15,466	9,375
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 20.41
Granted (in dollars per share)	6.36
Vested and released (in dollars per share)	21
Forfeited (in dollars per share)	17.94
Ending balance (in dollars per share)	$ 12.72	$ 20.41
Weighted Average Remaining Contractual Term (in Years)	1 year 3 months 7 days	2 years 1 month 9 days
Performance Stock Units
Number of Shares
Beginning balance (in shares)	1,026
Granted (in shares)	720
Granted for performance achievement (in shares)	0
Vested and released (in shares)	(128)
Forfeited (in shares)	(354)
Ending balance (in shares)	1,264	1,026
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 35.36
Granted (in dollars per share)	7.71
Granted performance achievement (in dollars per share)	0
Vested and released (in dollars per share)	25.65
Forfeited (in dollars per share)	37.65
Ending balance (in dollars per share)	$ 19.96	$ 35.36
Weighted Average Remaining Contractual Term (in Years)	1 year 10 months 9 days	10 months 20 days

INCOME TAXES (Details)

INCOME TAXES (Details)	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate	(1.60%)	(0.60%)

NET LOSS PER SHARE - Basic and

NET LOSS PER SHARE - Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Net loss	$ (26,043)	$ (43,906)
Weighted average common shares outstanding - basic (in shares)	119,721	109,925
Weighted average common shares outstanding - diluted (in shares)	119,721	109,925
Net loss per share:
Basic (in dollars per share)	$ (0.22)	$ (0.40)
Diluted (in dollars per share)	$ (0.22)	$ (0.40)

NET LOSS PER SHARE - Schedule o

NET LOSS PER SHARE - Schedule of Antidilutive Awards (Details) - shares shares in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	18,632	14,340
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	854	1,413
Restricted stock units and Performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	16,731	12,483
Potential shares attributable to the ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	1,047	444

GEOGRAPHICAL INFORMATION (Detai

GEOGRAPHICAL INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022
Segment Reporting Information [Line Items]
Revenue	$ 187,620	$ 148,327
Property and equipment, net	73,876		$ 79,016
United States
Segment Reporting Information [Line Items]
Revenue	136,120	103,658
Property and equipment, net	69,469		73,967
International
Segment Reporting Information [Line Items]
Revenue	51,500	$ 44,669
Property and equipment, net	$ 4,407		$ 5,049

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) - Fuze - USD ($) $ in Millions		1 Months Ended	3 Months Ended
	Jan. 18, 2022	May 31, 2022	Jun. 30, 2022
Business Acquisition [Line Items]
Percentage of interests acquired (in percent)	100%
Business combination, consideration transferred	$ 213.8
Payments to acquire businesses, gross	132.9
Cash held back in consideration transferred	$ 1.3	$ 1.3
Number of shares held back in consideration transferred (in shares)	1,153,523
Number of shares held back in indemnity obligations consideration transferred (in shares)	346,053
Revenue of acquiree since acquisition			$ 29.5
Common Stock
Business Acquisition [Line Items]
Business combination, value of stock issued	$ 80.9

Uncategorized Items - eght-2022

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2020-06 [Member]