8x8 (EGHT) 10-Q 3 Nov 23 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Sep. 30, 2023	Oct. 23, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
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 $0.001 PER SHARE
Trading Symbol	EGHT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		122,163,547
Entity Central Index Key	0001023731
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023
Current assets:
Cash and cash equivalents	$ 144,030	$ 111,400
Restricted cash, current	521	511
Short-term investments	4,744	26,228
Accounts receivable, net of allowance for expected credit losses of $3,036 and $3,644 as of September 30, 2023 and March 31, 2023, respectively	61,063	62,307
Deferred sales commission costs, current	37,610	38,048
Other current assets	33,967	34,630
Total current assets	281,935	273,124
Property and equipment, net	53,508	57,871
Operating lease, right-of-use assets	50,396	52,444
Intangible assets, net	96,914	107,112
Goodwill	265,732	266,863
Restricted cash, non-current	462	818
Deferred sales commission costs, non-current	60,440	67,644
Other assets, non-current	14,336	15,934
Total assets	823,723	841,810
Current liabilities:
Accounts payable	49,391	46,802
Accrued compensation	21,793	29,614
Accrued taxes	35,854	29,570
Operating lease liabilities, current	11,623	11,504
Deferred revenue, current	33,223	34,909
Convertible senior notes, current	63,153	62,932
Other accrued liabilities	14,053	14,556
Total current liabilities	229,090	229,887
Operating lease liabilities, non-current	61,926	65,623
Deferred revenue, non-current	10,231	10,615
Convertible senior notes	197,303	196,821
Term loan	210,303	231,993
Other liabilities, non-current	4,460	6,965
Total liabilities	713,313	741,904
Commitments and contingencies (Note 5)
Stockholders' equity:
Preferred stock: $0.001 par value, 5,000,000 shares authorized, none issued and outstanding as of September 30, 2023 and March 31, 2023	0	0
Common stock: $0.001 par value, 300,000,000 shares authorized, 121,858,602 shares and 114,659,255 shares issued and outstanding as of September 30, 2023 and March 31, 2023, respectively	122	115
Additional paid-in capital	941,493	905,635
Accumulated other comprehensive loss	(15,509)	(12,927)
Accumulated deficit	(815,696)	(792,917)
Total stockholders' equity	110,410	99,906
Total liabilities and stockholders' equity	$ 823,723	$ 841,810

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023
Stockholders' equity:
Expected credit losses	$ 3,036	$ 3,644
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value per share (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	121,858,602	114,659,255
Common stock, shares outstanding (in shares)	121,858,602	114,659,255

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Total revenue	$ 184,999	$ 187,389	$ 368,286	$ 375,009
Operating expenses:
Research and development	34,207	36,019	69,499	70,974
Sales and marketing	68,687	80,487	137,191	164,014
General and administrative	27,586	33,835	53,812	63,054
Total operating expenses	187,582	212,379	372,278	426,753
Loss from operations	(2,583)	(24,990)	(3,992)	(51,744)
Other (expense) income, net	(5,258)	13,950	(17,732)	15,066
Loss before (benefit from) provision for income taxes	(7,841)	(11,040)	(21,724)	(36,678)
Provision (benefit) for income taxes	(389)	599	1,055	1,004
Net loss	$ (7,452)	$ (11,639)	$ (22,779)	$ (37,682)
Net loss per share:
Basic (in dollars per share)	$ (0.06)	$ (0.10)	$ (0.19)	$ (0.32)
Diluted (in dollars per share)	$ (0.06)	$ (0.10)	$ (0.19)	$ (0.32)
Weighted average number of shares:
Basic (in shares)	120,757	116,013	118,778	117,857
Diluted (in shares)	120,757	116,013	118,778	117,857
Service revenue
Total revenue	$ 177,782	$ 178,556	$ 353,020	$ 357,717
Operating expenses:
Cost of revenue	49,144	51,038	95,420	104,585
Other revenue
Total revenue	7,217	8,833	15,266	17,292
Operating expenses:
Cost of revenue	$ 7,958	$ 11,000	$ 16,356	$ 24,126

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Interest expense	$ (8,929)	$ (4,883)	$ (17,899)	$ (5,508)
Amortization of debt discount and issuance costs	(1,132)	(1,169)	(2,240)	(2,000)
Gain on warrants remeasurement	2,781	1,293	2,531	1,293
Gain (loss) on debt extinguishment	0	16,106	(1,766)	16,106
Gain on foreign exchange	1,565	2,124	761	4,600
Other income	457	479	881	575
Other (expense) income, net	$ (5,258)	$ 13,950	$ (17,732)	$ 15,066

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (7,452)	$ (11,639)	$ (22,779)	$ (37,682)
Other comprehensive income (loss), net of tax
Unrealized gain (loss) on investments in securities	7	(5)	297	(99)
Foreign currency translation adjustment	(4,320)	(8,548)	(2,879)	(16,932)
Comprehensive loss	$ (11,765)	$ (20,192)	$ (25,361)	$ (54,713)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Adjustment	Common Stock	Additional Paid-in Capital	Additional Paid-in Capital Adjustment	Accumulated Other Comprehensive Loss	Accumulated Deficit	Accumulated Deficit Adjustment
Beginning balance (in shares) at Mar. 31, 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)
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]
Unrealized investment loss	(99)
Net loss	(37,682)
Ending balance (in shares) at Sep. 30, 2022			111,445
Ending balance at Sep. 30, 2022	84,782		$ 111	867,063		(24,944)	(757,448)
Beginning balance (in shares) at Jun. 30, 2022			119,659
Beginning balance at Jun. 30, 2022	133,522		$ 120	895,602		(16,391)	(745,809)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock plans, less withholding (in shares)			1,047
Issuance of common stock under stock plans, less withholding	0		$ 1	(1)
ESPP share issuance (in shares)			419
ESPP share issuance	1,648			1,648
Stock-based compensation expense	24,936			24,936
Shares repurchase (in shares)			(10,695)
Shares repurchase	(60,214)		$ (11)	(60,203)
Shares issued for debt issuance (in shares)			1,015
Shares issued for debt issuance	5,082		$ 1	5,081
Unrealized investment loss	(5)					(5)
Foreign currency translation adjustment	(8,548)					(8,548)
Net loss	(11,639)						(11,639)
Ending balance (in shares) at Sep. 30, 2022			111,445
Ending balance at Sep. 30, 2022	$ 84,782		$ 111	867,063		(24,944)	(757,448)
Beginning balance (in shares) at Mar. 31, 2023	114,659,255		114,659
Beginning balance at Mar. 31, 2023	$ 99,906		$ 115	905,635		(12,927)	(792,917)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock plans, less withholding (in shares)			3,535
Issuance of common stock under stock plans, less withholding	0		$ 3	(3)
Stock-based compensation expense	18,559			18,559
Issuance of common stock under stock plans, less withholding, related to Fuze acquisition (in shares)			1,038
Issuance of common stock under stock plans, less withholding, related to Fuze acquisition	0		$ 1	(1)
Unrealized investment loss	290					290
Foreign currency translation adjustment	1,441					1,441
Net loss	(15,327)						(15,327)
Ending balance (in shares) at Jun. 30, 2023			119,232
Ending balance at Jun. 30, 2023	$ 104,869		$ 119	924,190		(11,196)	(808,244)
Beginning balance (in shares) at Mar. 31, 2023	114,659,255		114,659
Beginning balance at Mar. 31, 2023	$ 99,906		$ 115	905,635		(12,927)	(792,917)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unrealized investment loss	297
Net loss	$ (22,779)
Ending balance (in shares) at Sep. 30, 2023	121,858,602		121,859
Ending balance at Sep. 30, 2023	$ 110,410		$ 122	941,493		(15,509)	(815,696)
Beginning balance (in shares) at Jun. 30, 2023			119,232
Beginning balance at Jun. 30, 2023	104,869		$ 119	924,190		(11,196)	(808,244)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock plans, less withholding (in shares)			1,784
Issuance of common stock under stock plans, less withholding	0		$ 2	(2)
ESPP share issuance (in shares)			843
ESPP share issuance	2,366		$ 1	2,365
Stock-based compensation expense	14,940			14,940
Unrealized investment loss	7					7
Foreign currency translation adjustment	(4,320)					(4,320)
Net loss	$ (7,452)						(7,452)
Ending balance (in shares) at Sep. 30, 2023	121,858,602		121,859
Ending balance at Sep. 30, 2023	$ 110,410		$ 122	$ 941,493		$ (15,509)	$ (815,696)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net loss	$ (22,779)	$ (37,682)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation	4,090	5,624
Amortization of intangible assets	10,198	10,723
Amortization of capitalized internal-use software costs	10,061	11,494
Amortization of debt discount and issuance costs	2,240	2,000
Amortization of deferred sales commission costs	20,099	18,839
Allowance for credit losses	993	1,781
Operating lease expense, net of accretion	5,109	5,925
Impairment of right-of-use assets	0	2,424
Stock-based compensation expense	32,717	52,435
Loss (gain) on debt extinguishment	1,766	(16,106)
Gain on remeasurement of warrants	(2,531)	(1,293)
Other	52	(192)
Changes in assets and liabilities:
Accounts receivable	299	(4,579)
Deferred sales commission costs	(12,068)	(13,834)
Other current and non-current assets	(1,306)	1,223
Accounts payable and accruals	(2,934)	(14,733)
Deferred revenue	(2,070)	(4,367)
Net cash provided by operating activities	43,936	19,682
Cash flows from investing activities:
Purchases of property and equipment	(1,558)	(1,845)
Capitalized internal-use software costs	(7,442)	(4,328)
Purchases of investments	(6,174)	(27,669)
Sales of investments	0	8,296
Maturities of investments	27,909	36,641
Acquisition of businesses, net of cash acquired	0	(1,250)
Net cash provided by investing activities	12,735	9,845
Cash flows from financing activities:
Proceeds from issuance of common stock under employee stock plans	2,365	1,713
Repayment of principal on term loan	(25,000)	0
Net proceeds from term loan	0	232,861
Repayment and exchange of convertible senior notes	0	(190,553)
Repurchase of common stock	0	(60,214)
Net cash used in financing activities	(22,635)	(16,193)
Effect of exchange rate changes on cash	(1,752)	(12,207)
Net increase in cash, cash equivalents and restricted cash	32,284	1,127
Cash, cash equivalents and restricted cash, beginning of year	112,729	100,714
Cash, cash equivalents and restricted cash, end of year	145,013	101,841
Supplemental information:
Interest paid	17,799	4,654
Income taxes paid	3,118	1,167
Warrants issued in connection with term loan	0	5,915
Shares issued in connection with term loan and convertible senior notes	0	5,082
Reconciliation of cash, cash equivalents, and restricted cash at the end of the period:
Cash and cash equivalents	144,030	100,512
Restricted cash, current	521	511
Restricted cash, non-current	462	818
Total cash, cash equivalents and restricted cash	$ 145,013	$ 101,841

THE COMPANY AND SIGNIFICANT ACC

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES	THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES THE COMPANY 8x8, Inc. ("8x8" or the "Company") was incorporated in California in February 1987 and was reincorporated in Delaware in December 1996. The Company trades under the symbol "EGHT" on the Nasdaq Global Select Market. The Company is a leading Software-as-a-Service ("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, 2023 and notes thereto included in the Form 10-K. There were no material changes during the three and six months ended September 30, 2023 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, 2024. USE OF ESTIMATES The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and equity, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates, including, but not limited to, those related to current expected credit losses, returns reserve for expected cancellations, fair value of and/or potential impairment of goodwill and value and useful life of long-lived assets (including intangible assets and right-of-use assets), capitalized internal-use software costs, benefit period for deferred commissions, stock-based compensation, incremental borrowing rate used to calculate operating lease liabilities, income and sales tax liabilities, convertible senior notes fair value, litigation, and other contingencies. The Company bases its estimates on known facts and circumstances, historical experience, and various other assumptions. Actual results could differ from those estimates under different assumptions or conditions. RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS There were no recent accounting pronouncements that were applicable to the Company adopted during the six months ended September 30, 2023. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED Recent accounting pronouncements that may be applicable to the Company are not expected to have a material impact on its present or future financial statements.

REVENUE RECOGNITION

REVENUE RECOGNITION	6 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION Disaggregation of Revenue The Company disaggregates its revenue by geographic region. See Note 10 . Geographical Information . Contract Balances The following table provides amounts of receivables, contract assets, and deferred revenue from contracts with customers (in thousands): September 30, 2023 March 31, 2023 Accounts receivable, net $ 61,063 $ 62,307 Contract assets, current (component of Other current assets) 11,317 11,581 Contract assets, non-current (component of Other assets ) 9,639 11,141 Deferred revenue, current 33,223 34,909 Deferred revenue, non-current 10,231 10,615 The change in contract assets was primarily driven by billing customers for amounts that had previously been recognized in revenue but not yet billed. The decrease in deferred revenue was due to reduced billings done in advance of performance obligations being satisfied. During the six months ended September 30, 2023, the Company recognized revenues of approximately $28.6 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 September 30, 2023 and 2022 was approximately $10.1 million and $9.6 million, respectively, and $20.1 million and $18.8 million during the six months ended September 30, 2023 and 2022, respectively. There were no material write-offs during the three and six months ended September 30, 2023 and 2022.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Cash, cash equivalents, and available-for-sale investments were as follows (in thousands) : As of September 30, 2023 Amortized Gross Gross Estimated Cash and Restricted Cash Short-Term Cash $ 70,729 $ — $ — $ 70,729 $ 70,729 $ — $ — Level 1: Money market funds 64,070 — — 64,070 63,087 983 — Treasury securities 599 — — 599 — — 599 Subtotal 135,398 — — 135,398 133,816 983 599 Level 2: Term deposit 10,214 — — 10,214 10,214 — — Commercial paper 4,146 — (1) 4,145 — 4,145 Subtotal 14,360 — (1) 14,359 10,214 — 4,145 Total assets $ 149,758 $ — $ (1) $ 149,757 $ 144,030 $ 983 $ 4,744 As of March 31, 2023 Amortized Gross Gross Estimated Cash and Restricted Cash Short-Term Cash $ 95,828 $ — $ — $ 95,828 $ 95,828 $ — $ — Level 1: Money market funds 8,935 — — 8,935 8,935 — — Treasury securities 1,599 4 (1) 1,602 — — 1,602 Subtotal 106,362 4 (1) 106,365 104,763 — 1,602 Level 2: Certificate of deposit 1,329 — — 1,329 — 1,329 — Commercial paper 8,610 — (2) 8,608 6,637 — 1,971 Corporate debt 22,625 55 (25) 22,655 — — 22,655 Subtotal 32,564 55 (27) 32,592 6,637 1,329 24,626 Total assets $ 138,926 $ 59 $ (28) $ 138,957 $ 111,400 $ 1,329 $ 26,228 The restricted cash component of the money market funds is comprised of letters of credit securing leases for certain office facilities. The Company considers its investments available to support its current operations and has classified investments in debt securities as available-for-sale securities. The Company does not intend to sell any of its investments that are in unrealized loss positions and, as of September 30, 2023, has determined that it is not more likely than not that it will be required to sell any of these investments before recovery of the entire amortized cost basis. The Company regularly reviews the changes to the rating of its securities at the individual security level by rating agencies and reasonably monitors the surrounding economic conditions to assess the risk of expected credit losses. As of September 30, 2023, the Company did not record any allowance for credit losses on its investments. The Company uses the Black-Scholes option-pricing valuation model to value its detachable warrants from inception and at each reporting period. Changes in the fair values of the detachable warrants liability are recorded as loss on warrants remeasurement within Other (expense) income, net in the condensed consolidated statements of operations. The following table presents additional information about valuation techniques and inputs used for the detachable warrants (see Note 6 , Convertible Senior Notes and Term Loan ) that are measured at fair value and categorized within Level 3 as of September 30, 2023 and March 31, 2023 (dollars in thousands) : September 30, 2023 March 31, 2023 Estimated fair value of detachable warrants $ 2,966 $ 5,497 Unobservable inputs: Stock volatility 80.0% 67.2% Risk-free rate 4.7% 3.6% Expected term 3.9 years 4.4 years As of September 30, 2023 and March 31, 2023, the estimated fair value of the Company's convertible senior notes due in 2024 was $60.2 million and $57.3 million, respectively, and the estimated fair value of the Company’s convertible senior notes due in 2028 was $192.0 million and $183.0 million, respectively (see Note 6 Convertible Senior Notes and Term Loan ). The fair value of the convertible senior notes was determined based on the closing price of each of the securities on the last trading day of the reporting period, and each is considered to be Level 2 in the fair value hierarchy due to limited trading activity of the debt instruments. As of September 30, 2023 and March 31, 2023, the carrying value of the Company’s Term Loan approximates its estimated fair value.

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL	6 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND GOODWILL	INTANGIBLE ASSETS AND GOODWILL The carrying value of intangible assets consisted of the following (in thousands) : September 30, 2023 March 31, 2023 Gross Accumulated Net Carrying Gross Accumulated Net Carrying Technology $ 46,448 $ (32,582) $ 13,866 $ 46,461 $ (28,361) $ 18,100 Customer relationships 105,824 (22,776) 83,048 105,836 (16,824) 89,012 Trade names and domains 582 (582) — 584 (584) — Total acquired identifiable intangible assets $ 152,854 $ (55,940) $ 96,914 $ 152,881 $ (45,769) $ 107,112 As of September 30, 2023, the weighted average remaining useful lives for technology and customer relationships were 1.9 years and 7.2 years, respectively. The annual amortization of the Company's intangible assets, based upon existing intangible assets and current useful lives, is estimated to be as follows (in thousands) : Amount Remainder of 2024 $ 10,198 2025 19,095 2026 13,896 2027 11,757 2028 11,044 Thereafter 30,924 Total $ 96,914 The following table provides a summary of the changes in the carrying amounts of goodwill (in thousands) : Amount Balance as of March 31, 2023 $ 266,863 Foreign currency translation (1,131) Balance as of September 30, 2023 $ 265,732

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Indemnifications In the normal course of business, the Company may agree to indemnify other parties, including customers, lessors, and parties to other transactions with the Company with respect to certain matters, such as breaches of representations or covenants or intellectual property infringement or other claims made by third parties. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim. In addition, the Company has entered into indemnification agreements with its officers and directors. It is not possible to determine the maximum potential amount of the Company's exposure under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Historically, payments made by the Company under these agreements have not had a material impact on the Company's operating results, financial position, or cash flows. Under some of these agreements, however, the Company's potential indemnification liability 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. No material leases were executed during the three months ended September 30, 2023. See Note 5. Leases in the Company's Form 10-K for more information on the Company's leases and the future minimum lease payments. Purchase Obligations The Company's purchase obligations include contracts with third-party customer support vendors and third-party network service providers. These contracts include minimum monthly commitments and the requirements to maintain the service level for several months. During the six months ended September 30, 2023, the Company entered into a $28.1 million noncancellable three-year hosting service contract. Under this agreement, $3.8 million remains due during fiscal year 2024, $10.0 million will be due during fiscal 2025, and $10.5 million will be due during fiscal 2026. 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 September 30, 2023. The Company believes that damage amounts claimed in these matters are not meaningful indicators of potential liability. Some of the matters pending against the Company involve potential compensatory, punitive, or treble damage claims or sanctions, that, if granted, could require the Company to pay damages or make other expenditures in amounts that could have a material adverse effect on its consolidated financial statements. Given the inherent uncertainties of litigation, the ultimate outcome of the ongoing matters described herein cannot be predicted, and the Company believes it has valid defenses with respect to the legal matters pending against it. Nevertheless, the consolidated financial statements could be materially adversely affected in a particular period by the resolution of one or more of these contingencies. State and Local Taxes and Surcharges From time to time, the Company has received inquiries from a number of state and local taxing agencies with respect to the remittance of sales, use, telecommunications, excise, and income taxes. Several jurisdictions currently are conducting tax audits of the Company's records. The Company collects or has accrued amounts for taxes that it believes are required to be remitted. The amounts that have been remitted have historically been within the accruals established by the Company. The Company adjusts its accrual when facts relating to specific exposures warrant such adjustment. During the second quarter of fiscal 2019, the Company conducted a periodic review of the taxability of its services and determined that certain services may be subject to sales, use, telecommunications or other similar indirect taxes in certain jurisdictions. A similar review was performed on the taxability of services provided by Fuze, Inc., and it was determined that certain services may be subject to sales, use, telecommunications or other similar indirect taxes in certain jurisdictions. Accordingly, the Company recorded contingent indirect tax liabilities. As of September 30, 2023 and March 31, 2023, the Company had accrued contingent indirect tax liabilities of $15.1 million and $13.5 million, respectively.

CONVERTIBLE SENIOR NOTES AND TE

CONVERTIBLE SENIOR NOTES AND TERM LOAN	6 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
CONVERTIBLE SENIOR NOTES AND TERM LOAN	CONVERTIBLE SENIOR NOTES AND TERM LOAN 2024 Notes As of both September 30, 2023 and March 31, 2023, the Company had $63.3 million aggregate principal amount of 0.50% convertible senior notes due 2024 (the "2024 Notes") in a private placement, including the exercise in full of the initial purchasers' option to purchase additional notes. In August 2022, the Company used the proceeds from the issuance of the Term Loan (as defined below) to fund the cash portion of an exchange of the Company’s approximately $403.8 million aggregate principal amount of the 2024 Notes for cash plus approximately $201.9 million aggregate principal amount of the 2028 Notes (as defined below), and the concurrent repurchase of approximately $60.0 million of the Company’s common stock with the counterparties to such exchange. The 2024 Notes are senior unsecured obligations of the Company, and interest is payable semiannually in arrears on February 1 and August 1 of each year. The Notes will mature on February 1, 2024, unless earlier repurchased, redeemed, or converted. During the three months ended September 30, 2023, the conditions allowing holders of the 2024 Notes to convert were not met. As of September 30, 2023, the Company was in compliance with all covenants set forth in the indenture governing the 2024 Notes. The following table presents the net carrying amount and fair value of the liability component of the 2024 Notes (in thousands) : September 30, 2023 March 31, 2023 Principal $ 63,295 $ 63,295 Unamortized debt discount and issuance costs (142) (363) Net carrying amount $ 63,153 $ 62,932 The debt discount and debt issuance costs are amortized to interest expense over the term of the 2024 Notes at an effective interest rate of 1.2%. Interest expense recognized related to the 2024 Notes was as follows (in thousands) : Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Contractual interest expense $ 80 $ 350 $ 159 $ 975 Amortization of debt discount and issuance costs 109 633 216 1,464 Total interest expense $ 189 $ 983 $ 375 $ 2,439 Term Loan and Warrants As of September 30, 2023 and March 31, 2023, the Company had $225.0 million and $250.0 million, respectively, of principal amount outstanding in a senior secured term loan facility (the “Term Loan”) under a term loan credit agreement (the “Credit Agreement”) entered into on August 3, 2022 with Wilmington Savings Fund Society, FSB, as administrative agent, and certain affiliates of Francisco Partners (“FP”). The Term Loan matures on August 3, 2027 and bears interest at an annual rate equal to the term Standard Overnight Financing Rate ("Term SOFR") (subject to a floor of 1.00% and a credit spread adjustment of 0.10%), plus a margin of 6.50%. As of September 30, 2023, the effective interest rate for the Term Loan was 11.9%. On May 9, 2023, the Company voluntarily prepaid $25.0 million of principal amount outstanding and $0.2 million of accrued interest on the Term Loan. This payment had no impact on the Company's compliance with the Term Loan covenants. As of September 30, 2023, the Company was in compliance with all covenants set forth in the credit agreement governing the Term Loan. The obligations under the Credit Agreement will be guaranteed by the Company’s wholly-owned subsidiaries, subject to certain customary exceptions, and secured by a perfected security interest in substantially all of the Company’s tangible and intangible assets, as well as substantially all of the tangible and intangible assets of the guarantors. In connection with the Credit Agreement, the Company issued detachable warrants (the “Warrants”) to affiliates of FP to purchase an aggregate of 3.1 million shares of the Company’s common stock with a five-year term and an exercise price of $7.15 per share (subject to adjustment) that represents a 27.5% premium over the closing price per share of the Company’s common stock on August 3, 2022. The Warrants are classified as liabilities measured at fair value during each reporting period as the Warrants contain certain terms that could result in cash settlement as a result of events outside of the Company’s control. As of September 30, 2023 and March 31, 2023, the fair value of the Warrants was $3.0 million and $5.5 million, respectively, and was recorded within other liabilities, non-current on the condensed consolidated balance sheets. The following table presents the net carrying amount of the Term Loan (in thousands) : September 30, 2023 March 31, 2023 Principal $ 225,000 $ 250,000 Unamortized debt discount and issuance costs (14,697) (18,007) Net carrying amount $ 210,303 $ 231,993 Interest expense recognized related to the Term Loans was as follows (in thousands) : Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Contractual interest expense $ 6,592 $ 3,209 $ 13,471 $ 3,209 Amortization of debt discount and issuance costs 768 434 1,542 434 Total interest expense $ 7,360 $ 3,643 $ 15,013 $ 3,643 2028 Notes As of September 30, 2023 and March 31, 2023, the Company had $201.9 million aggregate principal amount of 4.00% convertible senior notes due 2028 (the “2028 Notes”), with debt issuance costs of approximately $5.6 million, of which 50% was paid in the form of shares of the Company's common stock. The 2028 Notes are senior obligations of the Company that accrue interest, payable semi-annually in arrears on February 1 and August 1 of each year. The 2028 Notes will mature on February 1, 2028, unless earlier converted, redeemed or repurchased. As of September 30, 2023, the Company was in compliance with all covenants set forth in the indenture governing the 2028 Notes. The debt discount and debt issuance costs are amortized to interest expense over the term of the 2028 Notes at an effective interest rate of 4.7%. The following table presents the net carrying amount of the 2028 Notes (in thousands) : September 30, 2023 March 31, 2023 Principal $ 201,914 $ 201,914 Unamortized debt discount and issuance costs (4,611) (5,093) Net carrying amount $ 197,303 $ 196,821 Interest expense recognized related to the 2028 Notes was as follows (in thousands) : Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Contractual interest expense $ 2,036 $ 1,106 $ 4,050 $ 1,106 Amortization of debt discount and issuance costs 255 102 482 102 Total interest expense $ 2,291 $ 1,208 $ 4,532 $ 1,208

STOCK-BASED COMPENSATION AND ST

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY	6 Months Ended
	Sep. 30, 2023
Equity [Abstract]
STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY	STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY The Company accounts for stock-based compensation through the measurement and recognition of compensation expense for share-based payment awards made to employees, directors or consultants over the related requisite service period, including stock appreciation rights, restricted stock, restricted stock units ("RSUs") and performance stock units ("PSUs"), qualified performance-based awards, and stock grants (all issuable under the Company's equity incentive plans). The Company reserved 8.0 million shares of the Company's common stock for issuance under the 2022 Equity Incentive Plan (the "2022 Plan") plus the number of shares subject to awards that were outstanding under the 2012 Equity Incentive Plan (the "2012 Plan") as of 12:01 a.m. Pacific Time on June 22, 2022 (the “Prior Plan Expiration Time”), to the extent that, after the Prior Plan Expiration Time, such shares would have recycled back to the 2012 Plan in connection with the awards’ expiration, termination, cancellation, forfeiture, or repurchase, as described further below, and in each case, subject to adjustment upon certain changes in the Company’s capitalization. The 2022 Plan provides for the granting of incentive stock options to employees and non-statutory stock options to employees, directors or consultants, and granting of stock appreciation rights, restricted stock, restricted stock units and performance units, qualified performance-based awards, and stock grants. The stock option price of incentive stock options granted cannot be less than the fair market value on the effective date of the grant. Options, restricted stock, and restricted stock units generally vest over three Stock-Based Compensation The following table presents stock-based compensation expense (in thousands) : Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Cost of service revenue $ 1,137 $ 2,436 $ 2,823 $ 5,100 Cost of other revenue 459 925 854 2,036 Research and development 5,415 7,711 13,048 15,755 Sales and marketing 3,917 6,809 8,566 14,917 General and administrative 3,592 6,740 7,426 14,627 Total $ 14,520 $ 24,621 $ 32,717 $ 52,435 Restricted Stock Units The following table presents the RSU activity ( shares in thousands ): Number of Weighted Weighted Average Balance as of March 31, 2023 12,993 $ 8.56 1.84 Granted 6,497 3.95 Vested and released (5,318) 8.53 Forfeited (1,204) 7.30 Balance as of September 30, 2023 12,968 $ 6.38 2.06 As of September 30, 2023, there was $56.1 million of total unrecognized compensation cost related to RSUs, which is expected to be recognized over a weighted average of 2.06 years. Performance Stock Units PSUs are issued to a group of executives and generally time vest over periods ranging from one The following table presents the PSU activity ( shares in thousands ): Number of Weighted Weighted Average Balance as of March 31, 2023 624 $ 11.30 1.45 Granted 2,023 1.23 Forfeited (116) 21.83 Balance as of September 30, 2023 2,531 2.77 3.12 Total unrecognized compensation cost related to PSUs was $11.5 million as of September 30, 2023, which is expected to be recognized over a weighted average of 3.12 years. Employee Stock Purchase Plan ("ESPP") As of September 30, 2023, there was approximately $2.5 million of unrecognized compensation cost related to employee stock purchases. This cost is expected to be recognized over a weighted average period of 0.6 years. In July 2022, the Company added 3.6 million shares to the ESPP for future issuances, and, as of September 30, 2023, a total of 2.4 million shares were available for issuance under the ESPP.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXESThe Company's effective tax rate was 5.0% and (5.4)% for the three months ended September 30, 2023 and 2022, 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 after adjusting for the impact of certain provisions enacted under the Tax Cuts and Jobs Act, current tax liabilities of profitable foreign subsidiaries subject to different local income tax rates, and state taxes in the United States. 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	6 Months Ended
	Sep. 30, 2023
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 ( in thousands, except per share data ): Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Net loss $ (7,452) $ (11,639) $ (22,779) $ (37,682) Weighted average common shares outstanding - basic and diluted 120,757 116,013 118,778 117,857 Net loss per share - basic and diluted $ (0.06) $ (0.10) $ (0.19) $ (0.32) As the Company was in a loss position for all periods presented, basic net loss per share is equivalent to diluted net loss per share for all periods, as the inclusion of all potential shares of common stock outstanding would have been anti-dilutive. The following potentially weighted-average common shares were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive ( shares in thousands ): Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Stock options 601 811 625 787 Restricted stock units and Performance stock units 10,855 15,895 9,878 8,804 Potential shares attributable to the ESPP 1,129 751 626 512 Total anti-dilutive shares 12,585 17,457 11,129 10,103

GEOGRAPHICAL INFORMATION

GEOGRAPHICAL INFORMATION	6 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
GEOGRAPHICAL INFORMATION	GEOGRAPHICAL INFORMATION The following tables set forth the geographic information for each period (in thousands) : Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 United States $ 131,124 $ 136,532 $ 261,506 $ 272,652 International 53,875 50,857 106,780 102,357 Total revenue $ 184,999 $ 187,389 $ 368,286 $ 375,009 September 30, 2023 March 31, 2023 United States $ 50,035 $ 54,191 International 3,473 3,680 Total property and equipment, net $ 53,508 $ 57,871

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONSThe Company has been doing business with an outside sales and marketing vendor since December 2017, which became a related party in July 2022 when a member of the Company's board of directors joined the vendor's board of directors. The Company has a two-year contract with this vendor valued at $1.4 million and paid $0.7 million during the six months ended September 30, 2023

SUBSEQUENT EVENT

SUBSEQUENT EVENT	6 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENTOn October 30, 2023, in support of the Company's office-home hybrid workforce model, the Company's board of directors authorized the cessation of use of approximately 42% of leased space at the Company’s headquarters at 675 Creekside Way, Campbell, CA. The Company plans to continue to hold this space available for sublease.The Company intends to cease use of the space on November 1, 2023 and currently estimates it will incur total non-cash lease impairment charges of between $9.0 million to $10.0 million in the quarter ending December 31, 2023. The amounts will be recorded as an impairment of operating lease, right-of-use assets, and may vary in amount and timing due to a variety of factors.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net loss	$ (7,452)	$ (15,327)	$ (11,639)	$ (26,043)	$ (22,779)	$ (37,682)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Sep. 30, 2023 shares	Sep. 30, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Kevin Kraus [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		Kevin Kraus, Chief Financial Officer, adopted an amended Rule 10b5-1 Trading Plan on September 12, 2023 that is intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act. Mr. Kraus's Rule 10b5-1 Trading Plan provides for the potential sale of up to 12,000 shares of the Company's common stock between December 12, 2023 and November 30, 2024.
Name	Kevin Kraus
Title	Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 12, 2023
Arrangement Duration	354 days
Aggregate Available	12,000	12,000
Laurence Denny [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		Laurence Denny, Chief Legal Officer, adopted a Rule 10b5-1 Trading Plan on September 6, 2023 that is intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act. Mr. Denny's Rule 10b5-1 Trading Plan provides for the potential sale of up to 13,303 shares of the Company's common stock between December 6, 2023 and May 31, 2024.
Name	Laurence Denny
Title	Chief Legal Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 6, 2023
Arrangement Duration	177 days
Aggregate Available	13,303	13,303

THE COMPANY AND SIGNIFICANT A_2

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	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, 2023 and notes thereto included in the Form 10-K. There were no material changes during the three and six months ended September 30, 2023 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, 2024.
Use of Estimates	USE OF ESTIMATES The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and equity, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates, including, but not limited to, those related to current expected credit losses, returns reserve for expected cancellations, fair value of and/or potential impairment of goodwill and value and useful life of long-lived assets (including intangible assets and right-of-use assets), capitalized internal-use software costs, benefit period for deferred commissions, stock-based compensation, incremental borrowing rate used to calculate operating lease liabilities, income and sales tax liabilities, convertible senior notes fair value, litigation, and other contingencies. The Company bases its estimates on known facts and circumstances, historical experience, and various other assumptions. Actual results could differ from those estimates under different assumptions or conditions.
Recently Adopted Accounting Pronouncements/ Recently Issued Accounting Pronouncements Not Yet Adopted	RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS There were no recent accounting pronouncements that were applicable to the Company adopted during the six months ended September 30, 2023. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED Recent accounting pronouncements that may be applicable to the Company are not expected to have a material impact on its present or future financial statements.
Indemnifications	Indemnifications In the normal course of business, the Company may agree to indemnify other parties, including customers, lessors, and parties to other transactions with the Company with respect to certain matters, such as breaches of representations or covenants or intellectual property infringement or other claims made by third parties. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim. In addition, the Company has entered into indemnification agreements with its officers and directors. It is not possible to determine the maximum potential amount of the Company's exposure under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Historically, payments made by the Company under these agreements have not had a material impact on the Company's operating results, financial position, or cash flows. Under some of these agreements, however, the Company's potential indemnification liability may not have a contractual limit.

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	6 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Contract Balances	The following table provides amounts of receivables, contract assets, and deferred revenue from contracts with customers (in thousands): September 30, 2023 March 31, 2023 Accounts receivable, net $ 61,063 $ 62,307 Contract assets, current (component of Other current assets) 11,317 11,581 Contract assets, non-current (component of Other assets ) 9,639 11,141 Deferred revenue, current 33,223 34,909 Deferred revenue, non-current 10,231 10,615

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurements	Cash, cash equivalents, and available-for-sale investments were as follows (in thousands) : As of September 30, 2023 Amortized Gross Gross Estimated Cash and Restricted Cash Short-Term Cash $ 70,729 $ — $ — $ 70,729 $ 70,729 $ — $ — Level 1: Money market funds 64,070 — — 64,070 63,087 983 — Treasury securities 599 — — 599 — — 599 Subtotal 135,398 — — 135,398 133,816 983 599 Level 2: Term deposit 10,214 — — 10,214 10,214 — — Commercial paper 4,146 — (1) 4,145 — 4,145 Subtotal 14,360 — (1) 14,359 10,214 — 4,145 Total assets $ 149,758 $ — $ (1) $ 149,757 $ 144,030 $ 983 $ 4,744 As of March 31, 2023 Amortized Gross Gross Estimated Cash and Restricted Cash Short-Term Cash $ 95,828 $ — $ — $ 95,828 $ 95,828 $ — $ — Level 1: Money market funds 8,935 — — 8,935 8,935 — — Treasury securities 1,599 4 (1) 1,602 — — 1,602 Subtotal 106,362 4 (1) 106,365 104,763 — 1,602 Level 2: Certificate of deposit 1,329 — — 1,329 — 1,329 — Commercial paper 8,610 — (2) 8,608 6,637 — 1,971 Corporate debt 22,625 55 (25) 22,655 — — 22,655 Subtotal 32,564 55 (27) 32,592 6,637 1,329 24,626 Total assets $ 138,926 $ 59 $ (28) $ 138,957 $ 111,400 $ 1,329 $ 26,228
Summary of Assumptions Used in Determination of Fair Value	The following table presents additional information about valuation techniques and inputs used for the detachable warrants (see Note 6 , Convertible Senior Notes and Term Loan ) that are measured at fair value and categorized within Level 3 as of September 30, 2023 and March 31, 2023 (dollars in thousands) : September 30, 2023 March 31, 2023 Estimated fair value of detachable warrants $ 2,966 $ 5,497 Unobservable inputs: Stock volatility 80.0% 67.2% Risk-free rate 4.7% 3.6% Expected term 3.9 years 4.4 years

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL (Tables)	6 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Acquired Finite-Lived Intangible Assets by Major Class	The carrying value of intangible assets consisted of the following (in thousands) : September 30, 2023 March 31, 2023 Gross Accumulated Net Carrying Gross Accumulated Net Carrying Technology $ 46,448 $ (32,582) $ 13,866 $ 46,461 $ (28,361) $ 18,100 Customer relationships 105,824 (22,776) 83,048 105,836 (16,824) 89,012 Trade names and domains 582 (582) — 584 (584) — Total acquired identifiable intangible assets $ 152,854 $ (55,940) $ 96,914 $ 152,881 $ (45,769) $ 107,112
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The annual amortization of the Company's intangible assets, based upon existing intangible assets and current useful lives, is estimated to be as follows (in thousands) : Amount Remainder of 2024 $ 10,198 2025 19,095 2026 13,896 2027 11,757 2028 11,044 Thereafter 30,924 Total $ 96,914
Schedule of Goodwill	The following table provides a summary of the changes in the carrying amounts of goodwill (in thousands) : Amount Balance as of March 31, 2023 $ 266,863 Foreign currency translation (1,131) Balance as of September 30, 2023 $ 265,732

CONVERTIBLE SENIOR NOTES AND _2

CONVERTIBLE SENIOR NOTES AND TERM LOAN (Tables)	6 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Carrying Amount	The following table presents the net carrying amount and fair value of the liability component of the 2024 Notes (in thousands) : September 30, 2023 March 31, 2023 Principal $ 63,295 $ 63,295 Unamortized debt discount and issuance costs (142) (363) Net carrying amount $ 63,153 $ 62,932 The following table presents the net carrying amount of the Term Loan (in thousands) : September 30, 2023 March 31, 2023 Principal $ 225,000 $ 250,000 Unamortized debt discount and issuance costs (14,697) (18,007) Net carrying amount $ 210,303 $ 231,993
Schedule of Interest Expense	Interest expense recognized related to the 2024 Notes was as follows (in thousands) : Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Contractual interest expense $ 80 $ 350 $ 159 $ 975 Amortization of debt discount and issuance costs 109 633 216 1,464 Total interest expense $ 189 $ 983 $ 375 $ 2,439 Interest expense recognized related to the Term Loans was as follows (in thousands) : Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Contractual interest expense $ 6,592 $ 3,209 $ 13,471 $ 3,209 Amortization of debt discount and issuance costs 768 434 1,542 434 Total interest expense $ 7,360 $ 3,643 $ 15,013 $ 3,643 Interest expense recognized related to the 2028 Notes was as follows (in thousands) : Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Contractual interest expense $ 2,036 $ 1,106 $ 4,050 $ 1,106 Amortization of debt discount and issuance costs 255 102 482 102 Total interest expense $ 2,291 $ 1,208 $ 4,532 $ 1,208
Schedule of Convertible Debt	The following table presents the net carrying amount of the 2028 Notes (in thousands) : September 30, 2023 March 31, 2023 Principal $ 201,914 $ 201,914 Unamortized debt discount and issuance costs (4,611) (5,093) Net carrying amount $ 197,303 $ 196,821

STOCK-BASED COMPENSATION AND _2

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY (Tables)	6 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs	The following table presents stock-based compensation expense (in thousands) : Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Cost of service revenue $ 1,137 $ 2,436 $ 2,823 $ 5,100 Cost of other revenue 459 925 854 2,036 Research and development 5,415 7,711 13,048 15,755 Sales and marketing 3,917 6,809 8,566 14,917 General and administrative 3,592 6,740 7,426 14,627 Total $ 14,520 $ 24,621 $ 32,717 $ 52,435
Disclosure of Share-Based Compensation Arrangements By Share-Based Payment Award	The following table presents the RSU activity ( shares in thousands ): Number of Weighted Weighted Average Balance as of March 31, 2023 12,993 $ 8.56 1.84 Granted 6,497 3.95 Vested and released (5,318) 8.53 Forfeited (1,204) 7.30 Balance as of September 30, 2023 12,968 $ 6.38 2.06 The following table presents the PSU activity ( shares in thousands ): Number of Weighted Weighted Average Balance as of March 31, 2023 624 $ 11.30 1.45 Granted 2,023 1.23 Forfeited (116) 21.83 Balance as of September 30, 2023 2,531 2.77 3.12

NET LOSS PER SHARE (Tables)

NET LOSS PER SHARE (Tables)	6 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Net Loss Per Share	The following is a reconciliation of the weighted average number of common shares outstanding used in calculating basic and diluted net loss per share ( in thousands, except per share data ): Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Net loss $ (7,452) $ (11,639) $ (22,779) $ (37,682) Weighted average common shares outstanding - basic and diluted 120,757 116,013 118,778 117,857 Net loss per share - basic and diluted $ (0.06) $ (0.10) $ (0.19) $ (0.32)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following potentially weighted-average common shares were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive ( shares in thousands ): Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Stock options 601 811 625 787 Restricted stock units and Performance stock units 10,855 15,895 9,878 8,804 Potential shares attributable to the ESPP 1,129 751 626 512 Total anti-dilutive shares 12,585 17,457 11,129 10,103

GEOGRAPHICAL INFORMATION (Table

GEOGRAPHICAL INFORMATION (Tables)	6 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables set forth the geographic information for each period (in thousands) : Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 United States $ 131,124 $ 136,532 $ 261,506 $ 272,652 International 53,875 50,857 106,780 102,357 Total revenue $ 184,999 $ 187,389 $ 368,286 $ 375,009
Schedule of Long-lived Assets by Geographic Area	September 30, 2023 March 31, 2023 United States $ 50,035 $ 54,191 International 3,473 3,680 Total property and equipment, net $ 53,508 $ 57,871

THE COMPANY AND SIGNIFICANT A_3

THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES (Details)	6 Months Ended
	Sep. 30, 2023 segment
Accounting Policies [Abstract]
Number of reportable segments	1

REVENUE RECOGNITION - Contract

REVENUE RECOGNITION - Contract Balances (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 61,063	$ 62,307
Contract assets, current (component of Other current assets)	11,317	11,581
Contract assets, non-current (component of Other assets)	9,639	11,141
Deferred revenue, current	33,223	34,909
Deferred revenue, non-current	$ 10,231	$ 10,615

REVENUE RECOGNITION - Narrative

REVENUE RECOGNITION - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract with customer, liability, revenue recognized			$ 28.6
Revenue, remaining performance obligation, amount	$ 780		780
Capitalized contract cost, amortization	10.1	$ 9.6	20.1	$ 18.8
Capitalized contract cost, impairment loss	$ 0	$ 0	$ 0	$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	86%		86%
Revenue, remaining performance obligation, expected timing of satisfaction, period	24 months		24 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	14%		14%
Revenue, remaining performance obligation, expected timing of satisfaction, period	36 months		36 months
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

FAIR VALUE MEASUREMENTS - Cash,

FAIR VALUE MEASUREMENTS - Cash, Cash Equivalents and Investments with Hierarchy (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 144,030	$ 111,400	$ 100,512
Accumulated gross unrealized gain, before tax	0	59
Accumulated gross unrealized loss, before tax	(1)	(28)
Cash, cash equivalents and debt securities available-for-sale, amortized cost	149,758	138,926
Cash, cash equivalents and debt securities available-for-sale	149,757	138,957
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Accumulated gross unrealized gain, before tax	0	4
Accumulated gross unrealized loss, before tax	0	(1)
Cash, cash equivalents and debt securities available-for-sale, amortized cost	135,398	106,362
Cash, cash equivalents and debt securities available-for-sale	135,398	106,365
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	14,360	32,564
Accumulated gross unrealized gain, before tax	0	55
Accumulated gross unrealized loss, before tax	(1)	(27)
Debt securities, available-for-sale	14,359	32,592
Cash and Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash, cash equivalents and debt securities available-for-sale	144,030	111,400
Cash and Cash Equivalents | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash, cash equivalents and debt securities available-for-sale	133,816	104,763
Cash and Cash Equivalents | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	10,214	6,637
Restricted Cash (Current & Non-current)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash, cash equivalents and debt securities available-for-sale	983	1,329
Restricted Cash (Current & Non-current) | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash, cash equivalents and debt securities available-for-sale	983	0
Restricted Cash (Current & Non-current) | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	1,329
Short-Term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	4,744	26,228
Short-Term Investments | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	599	1,602
Short-Term Investments | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	4,145	24,626
Cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	70,729	95,828
Cash and cash equivalents, fair value disclosure	70,729	95,828
Cash | Cash and Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	70,729	95,828
Cash | Restricted Cash (Current & Non-current)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Money market funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	64,070	8,935
Cash and cash equivalents, fair value disclosure	64,070	8,935
Accumulated gross unrealized gain, before tax	0	0
Accumulated gross unrealized loss, before tax	0	0
Money market funds | Cash and Cash Equivalents | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	63,087	8,935
Money market funds | Restricted Cash (Current & Non-current) | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	983	0
Money market funds | Short-Term Investments | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Treasury securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	599	1,599
Accumulated gross unrealized gain, before tax	0	4
Accumulated gross unrealized loss, before tax	0	(1)
Debt securities, available-for-sale	599	1,602
Treasury securities | Cash and Cash Equivalents | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Treasury securities | Restricted Cash (Current & Non-current) | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	0
Treasury securities | Short-Term Investments | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	599	1,602
Term deposit | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	10,214
Cash and cash equivalents, fair value disclosure	10,214
Accumulated gross unrealized gain, before tax	0
Accumulated gross unrealized loss, before tax	0
Term deposit | Cash and Cash Equivalents | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	10,214
Term deposit | Restricted Cash (Current & Non-current) | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0
Term deposit | Short-Term Investments | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0
Certificate of deposit | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents		1,329
Cash and cash equivalents, fair value disclosure		1,329
Accumulated gross unrealized gain, before tax		0
Accumulated gross unrealized loss, before tax		0
Certificate of deposit | Cash and Cash Equivalents | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents		0
Certificate of deposit | Restricted Cash (Current & Non-current) | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents		1,329
Certificate of deposit | Short-Term Investments | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale		0
Commercial paper | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs	4,146	8,610
Accumulated gross unrealized gain, before tax	0	0
Accumulated gross unrealized loss, before tax	(1)	(2)
Debt securities, available-for-sale	4,145	8,608
Commercial paper | Cash and Cash Equivalents | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	0	6,637
Commercial paper | Restricted Cash (Current & Non-current) | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale		0
Commercial paper | Short-Term Investments | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale	$ 4,145	1,971
Corporate debt | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Costs		22,625
Accumulated gross unrealized gain, before tax		55
Accumulated gross unrealized loss, before tax		(25)
Debt securities, available-for-sale		22,655
Corporate debt | Cash and Cash Equivalents | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale		0
Corporate debt | Restricted Cash (Current & Non-current) | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale		0
Corporate debt | Short-Term Investments | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale		$ 22,655

FAIR VALUE MEASUREMENTS - Summa

FAIR VALUE MEASUREMENTS - Summary of Assumptions Used in Determination of Fair Value (Details) $ in Thousands	Sep. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value of the warrants	$ 2,966	$ 5,497
Stock volatility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrant, measurement input	0.800	0.672
Risk-free rate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrant, measurement input	0.047	0.036
Expected term
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrants and rights outstanding, term	3 years 10 months 24 days	4 years 4 months 24 days

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) - Level 2 - Convertible debt - USD ($) $ in Millions	Sep. 30, 2023	Mar. 31, 2023
Convertible Senior Notes 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 60.2
Initial Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value		$ 57.3
2028 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 192	$ 183

INTANGIBLE ASSETS AND GOODWILL-

INTANGIBLE ASSETS AND GOODWILL- Schedule Of Intangibles (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 152,854	$ 152,881
Accumulated Amortization	(55,940)	(45,769)
Net Carrying Amount	96,914	107,112
Technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	46,448	46,461
Accumulated Amortization	(32,582)	(28,361)
Net Carrying Amount	13,866	18,100
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	105,824	105,836
Accumulated Amortization	(22,776)	(16,824)
Net Carrying Amount	83,048	89,012
Trade names and domains
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	582	584
Accumulated Amortization	(582)	(584)
Net Carrying Amount	$ 0	$ 0

INTANGIBLE ASSETS AND GOODWIL_2

INTANGIBLE ASSETS AND GOODWILL - Narrative (Details)	Sep. 30, 2023
Technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, remaining amortization period	1 year 10 months 24 days
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, remaining amortization period	7 years 2 months 12 days

INTANGIBLE ASSETS AND GOODWIL_3

INTANGIBLE ASSETS AND GOODWILL - Schedule of Future Amortization of Intangibles (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2024	$ 10,198
2025	19,095
2026	13,896
2027	11,757
2028	11,044
Thereafter	30,924
Net Carrying Amount	$ 96,914	$ 107,112

INTANGIBLE ASSETS AND GOODWIL_4

INTANGIBLE ASSETS AND GOODWILL - Changes in Carrying Amount of Goodwill by Location (Details) $ in Thousands	6 Months Ended
	Sep. 30, 2023 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 266,863
Foreign currency translation	(1,131)
Goodwill, ending balance	$ 265,732

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Lessee, Lease, Description [Line Items]
Purchase obligation	$ 28.1
Service contract period	3 years
Purchase obligation due on 2024	$ 3.8
Purchase obligation due on 2025	10
Purchase obligation due on 2026	10.5
State and local taxes and surcharges
Lessee, Lease, Description [Line Items]
Accrued contingent indirect tax liabilities	$ 15.1	$ 13.5

CONVERTIBLE SENIOR NOTES AND _3

CONVERTIBLE SENIOR NOTES AND TERM LOAN - 2024 Notes (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Aug. 31, 2022	Sep. 30, 2022	Sep. 30, 2023	Mar. 31, 2023
Debt Instrument [Line Items]
Shares repurchase		$ 60,214
Common Stock
Debt Instrument [Line Items]
Shares repurchase		$ 11
Convertible Senior Notes 2024 | Convertible debt
Debt Instrument [Line Items]
Debt instrument, face value	$ 403,800		$ 63,295	$ 63,295
Debt instrument, interest rate			0.50%	0.50%
Debt instrument, effective interest rate	1.20%
2028 Notes
Debt Instrument [Line Items]
Debt instrument, effective interest rate	4.70%
2028 Notes | Convertible debt
Debt Instrument [Line Items]
Debt instrument, face value	$ 201,900		$ 201,914	$ 201,914
Debt instrument, interest rate			4%
Term Loan | Loans payable
Debt Instrument [Line Items]
Debt instrument, face value			$ 225,000	$ 250,000
Debt instrument, effective interest rate			11.90%
Term Loan | Loans payable | Common Stock
Debt Instrument [Line Items]
Shares repurchase	$ 60,000

CONVERTIBLE SENIOR NOTES AND _4

CONVERTIBLE SENIOR NOTES AND TERM LOAN - Carrying Amount (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023	Aug. 31, 2022
Convertible debt | Convertible Senior Notes 2024
Debt Instrument [Line Items]
Principal	$ 63,295	$ 63,295	$ 403,800
Unamortized debt discount and issuance costs	(142)	(363)
Net carrying amount	63,153	62,932
Convertible debt | 2028 Notes
Debt Instrument [Line Items]
Principal	201,914	201,914	$ 201,900
Unamortized debt discount and issuance costs	(4,611)	(5,093)
Net carrying amount	197,303	196,821
Loans payable | Term Loan
Debt Instrument [Line Items]
Principal	225,000	250,000
Unamortized debt discount and issuance costs	(14,697)	(18,007)
Net carrying amount	$ 210,303	$ 231,993

CONVERTIBLE SENIOR NOTES AND _5

CONVERTIBLE SENIOR NOTES AND TERM LOAN - Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Debt Instrument [Line Items]
Amortization of debt discount and issuance costs			$ 2,240	$ 2,000
Convertible Senior Notes 2024 | Convertible debt
Debt Instrument [Line Items]
Contractual interest expense	$ 80	$ 350	159	975
Amortization of debt discount and issuance costs	109	633	216	1,464
Total interest expense	189	983	375	2,439
Term Loan | Loans payable
Debt Instrument [Line Items]
Contractual interest expense	6,592	3,209	13,471	3,209
Amortization of debt discount and issuance costs	768	434	1,542	434
Total interest expense	7,360	3,643	15,013	3,643
2028 Notes | Convertible debt
Debt Instrument [Line Items]
Contractual interest expense	2,036	1,106	4,050	1,106
Amortization of debt discount and issuance costs	255	102	482	102
Total interest expense	$ 2,291	$ 1,208	$ 4,532	$ 1,208

CONVERTIBLE SENIOR NOTES AND _6

CONVERTIBLE SENIOR NOTES AND TERM LOAN - Term Loan and Warrants (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	May 09, 2023	Aug. 10, 2022	Aug. 03, 2022	Sep. 30, 2023	Mar. 31, 2023
Debt Instrument [Line Items]
Fair value of the warrants at issuance				$ 2,966	$ 5,497
Term Loan | Loans payable
Debt Instrument [Line Items]
Debt instrument, face value				$ 225,000	$ 250,000
Debt instrument, effective interest rate				11.90%
Repayments of debt	$ 25,000
Interest paid	$ 200
Term Loan | Loans payable | SOFR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable floor rate			1%
Debt instrument, credit spread adjustment			0.10%
Debt instrument, basis spread on variable rate			6.50%
Credit Agreement | Loans payable
Debt Instrument [Line Items]
Warrant of shares (in shares)		3.1
Warrants and rights outstanding, term		5 years
Exercise price of warrants (in dollars per share)		$ 7.15
Credit Agreement | Loans payable | Common Stock
Debt Instrument [Line Items]
Percentage of premium over closing price		27.50%

CONVERTIBLE SENIOR NOTES AND _7

CONVERTIBLE SENIOR NOTES AND TERM LOAN - 2028 Notes (Details) - 2028 Notes - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023	Aug. 31, 2022	Aug. 11, 2022
Debt Instrument [Line Items]
Debt instrument, effective interest rate			4.70%
Convertible debt
Debt Instrument [Line Items]
Debt instrument, face value	$ 201,914	$ 201,914	$ 201,900
Debt instrument, interest rate	4%
Debt issuance costs, net				$ 5,600
Debt issuance costs, percentage paid in common stock				50%

STOCK-BASED COMPENSATION AND _3

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY - Narrative (Details) - USD ($) $ in Millions		1 Months Ended	6 Months Ended
	May 26, 2022	Jul. 31, 2022	Sep. 30, 2023
Restricted stock units and Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized stock-based compensation expense			$ 56.1
Weighted average period of recognition for unrecognized compensation expense			2 years 21 days
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized stock-based compensation expense			$ 11.5
Weighted average period of recognition for unrecognized compensation expense			3 years 1 month 13 days
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
2022 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for future issuance (in shares)	8,000,000
Expiration period	10 years
Number of shares available for future grant (in shares)			1,952,177
2022 Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
2022 Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Employee Stock Purchase Plan | Employee stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized stock-based compensation expense			$ 2.5
Weighted average period of recognition for unrecognized compensation expense			7 months 6 days
Employee Stock Purchase Plan | Employee stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for future issuance (in shares)			2,400,000
Number of additional shares reserved for issuance (in shares)		3,600,000

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		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	$ 14,520	$ 24,621	$ 32,717	$ 52,435
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	5,415	7,711	13,048	15,755
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	3,917	6,809	8,566	14,917
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	3,592	6,740	7,426	14,627
Service | Cost of Sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	1,137	2,436	2,823	5,100
Other revenue | Cost of Sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based employee compensation expense	$ 459	$ 925	$ 854	$ 2,036

STOCK-BASED COMPENSATION AND _5

STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY - Restricted Stock Unit and Performance Stock Unit Activity (Details) - $ / shares shares in Thousands	6 Months Ended	12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023
Restricted stock units and Performance stock units
Number of Shares
Beginning balance (in shares)	12,993
Granted (in shares)	6,497
Vested and released (in shares)	(5,318)
Forfeited (in shares)	(1,204)
Ending balance (in shares)	12,968	12,993
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 8.56
Granted (in dollars per share)	3.95
Vested and released (in dollars per share)	8.53
Forfeited (in dollars per share)	7.30
Ending balance (in dollars per share)	$ 6.38	$ 8.56
Weighted Average Remaining Contractual Term (in Years)	2 years 21 days	1 year 10 months 2 days
Performance stock units
Number of Shares
Beginning balance (in shares)	624
Granted (in shares)	2,023
Forfeited (in shares)	(116)
Ending balance (in shares)	2,531	624
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 11.30
Granted (in dollars per share)	1.23
Forfeited (in dollars per share)	21.83
Ending balance (in dollars per share)	$ 2.77	$ 11.30
Weighted Average Remaining Contractual Term (in Years)	3 years 1 month 13 days	1 year 5 months 12 days

INCOME TAXES (Details)

INCOME TAXES (Details)	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate	5%	(5.40%)

NET LOSS PER SHARE - Basic and

NET LOSS PER SHARE - Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net loss, basic	$ (7,452)	$ (11,639)	$ (22,779)	$ (37,682)
Net loss, diluted	$ (7,452)	$ (11,639)	$ (22,779)	$ (37,682)
Weighted average common shares outstanding - basic (in shares)	120,757	116,013	118,778	117,857
Weighted average common shares outstanding - diluted (in shares)	120,757	116,013	118,778	117,857
Net loss per share:
Basic (in dollars per share)	$ (0.06)	$ (0.10)	$ (0.19)	$ (0.32)
Diluted (in dollars per share)	$ (0.06)	$ (0.10)	$ (0.19)	$ (0.32)

NET LOSS PER SHARE - Schedule o

NET LOSS PER SHARE - Schedule of Antidilutive Awards (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	12,585	17,457	11,129	10,103
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	601	811	625	787
Restricted stock units and Performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	10,855	15,895	9,878	8,804
Potential shares attributable to the ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	1,129	751	626	512

GEOGRAPHICAL INFORMATION (Detai

GEOGRAPHICAL INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Mar. 31, 2023
Segment Reporting Information [Line Items]
Revenue	$ 184,999	$ 187,389	$ 368,286	$ 375,009
Property and equipment, net	53,508		53,508		$ 57,871
United States
Segment Reporting Information [Line Items]
Revenue	131,124	136,532	261,506	272,652
Property and equipment, net	50,035		50,035		54,191
International
Segment Reporting Information [Line Items]
Revenue	53,875	$ 50,857	106,780	$ 102,357
Property and equipment, net	$ 3,473		$ 3,473		$ 3,680

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Related Party Transaction [Line Items]
Related party contract, term			2 years
Related party transaction, amounts of transaction			$ 1,400
Sales and marketing	$ 68,687	$ 80,487	137,191	$ 164,014
Related Party
Related Party Transaction [Line Items]
Sales and marketing			$ 700

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) - Subsequent event - USD ($) $ in Millions	Nov. 01, 2023	Oct. 30, 2023
Subsequent Event [Line Items]
Percentage of office space ceased		42%
Minimum
Subsequent Event [Line Items]
Estimated non-cash lease impairment charges	$ 9
Maximum
Subsequent Event [Line Items]
Estimated non-cash lease impairment charges	$ 10

Uncategorized Items - eght-2023

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