NetScout Systems (NTCT) 10-Q 2 Feb 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Dec. 31, 2022	Jan. 26, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	000-26251
Entity Registrant Name	NETSCOUT SYSTEMS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-2837575
Entity Address, Address Line One	310 Littleton Road
Entity Address, City or Town	Westford
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01886
City Area Code	978
Local Phone Number	614-4000
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	NTCT
Security Exchange Name	NASDAQ
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 (in shares)		70,962,252
Entity Central Index Key	0001078075
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Current assets:
Cash and cash equivalents	$ 352,044	$ 636,161
Marketable securities	57,262	67,037
Accounts receivable and unbilled costs, net of allowance for doubtful accounts of $1,002 and $1,649 at December 31, 2022 and March 31, 2022, respectively	215,838	148,245
Inventories and deferred costs	18,621	28,220
Prepaid income taxes	8,780	9,349
Prepaid expenses and other current assets	29,402	32,927
Total current assets	681,947	921,939
Fixed assets, net	37,590	41,337
Operating lease right-of-use assets	51,096	54,996
Goodwill	1,725,729	1,723,156
Intangible assets, net	382,257	433,419
Deferred income taxes	6,693	6,883
Long-term marketable securities	6,906	0
Other assets	11,894	12,979
Total assets	2,904,112	3,194,709
Current liabilities:
Accounts payable	15,451	21,959
Accrued compensation	72,259	75,788
Accrued other	22,431	32,064
Income taxes payable	1,683	4,353
Deferred revenue and customer deposits	317,406	330,585
Current portion of operating lease liabilities	10,779	11,411
Total current liabilities	440,009	476,160
Other long-term liabilities	7,554	7,470
Deferred tax liability	40,119	78,899
Accrued long-term retirement benefits	34,182	34,737
Long-term deferred revenue and customer deposits	127,513	133,121
Operating lease liabilities, net of current portion	49,582	53,927
Long-term debt	200,000	350,000
Total liabilities	898,959	1,134,314
Commitments and contingencies (Note 13)
Preferred stock, $0.001 par value:
5,000,000 shares authorized; no shares issued or outstanding at December 31, 2022 and March 31, 2022	0	0
Common stock, $0.001 par value:
300,000,000 shares authorized; 128,389,414 and 126,425,383 shares issued and 70,961,344 and 74,102,293 shares outstanding at December 31, 2022 and March 31, 2022, respectively	128	126
Additional paid-in capital	3,077,866	3,023,403
Accumulated other comprehensive income (loss)	(353)	141
Treasury stock at cost, 57,428,070 and 52,323,090 shares at December 31, 2022 and March 31, 2022, respectively	(1,545,922)	(1,373,840)
Retained earnings	473,434	410,565
Total stockholders' equity	2,005,153	2,060,395
Total liabilities and stockholders' equity	$ 2,904,112	$ 3,194,709

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 1,002	$ 1,649
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 (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)	128,389,414	126,425,383
Common stock, shares outstanding (in shares)	70,961,344	74,102,293
Treasury stock, shares (in shares)	57,428,070	52,323,090

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Revenue:
Total revenue	$ 269,544	$ 262,194	$ 706,437	$ 664,384
Cost of revenue:
Total cost of revenue	56,802	60,470	172,157	166,524
Gross profit	212,742	201,724	534,280	497,860
Operating expenses:
Research and development	42,558	41,637	129,932	128,940
Sales and marketing	66,994	66,048	209,435	197,191
General and administrative	25,533	23,665	75,584	69,881
Amortization of acquired intangible assets	13,818	14,919	41,500	44,895
Restructuring charges	89	0	1,803	0
Total operating expenses	148,992	146,269	458,254	440,907
Income from operations	63,750	55,455	76,026	56,953
Interest and other income (expense), net:
Interest income	1,480	45	2,512	154
Interest expense	(2,914)	(1,748)	(7,021)	(6,314)
Other income (expense), net	(1,738)	1,880	(2,045)	1,581
Total interest and other income (expense), net	(3,172)	177	(6,554)	(4,579)
Income before income tax expense	60,578	55,632	69,472	52,374
Income tax expense	7,960	7,907	6,603	8,094
Net income	$ 52,618	$ 47,725	$ 62,869	$ 44,280
Basic net income per share (in dollars per share)	$ 0.73	$ 0.65	$ 0.87	$ 0.60
Diluted net income per share (in dollars per share)	$ 0.72	$ 0.64	$ 0.86	$ 0.59
Weighted average common shares outstanding used in computing:
Net income per share - basic (in shares)	71,744	73,898	72,015	74,048
Net income per share - diluted (in shares)	73,049	74,899	73,271	74,976
Product
Revenue:
Total revenue	$ 149,452	$ 144,420	$ 359,519	$ 327,989
Cost of revenue:
Total cost of revenue	25,281	30,338	77,967	73,843
Service
Revenue:
Total revenue	120,092	117,774	346,918	336,395
Cost of revenue:
Total cost of revenue	$ 31,521	$ 30,132	$ 94,190	$ 92,681

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 52,618	$ 47,725	$ 62,869	$ 44,280
Other comprehensive income (loss):
Cumulative translation adjustments	114	84	(447)	51
Changes in market value of investments:
Changes in unrealized gains (losses), net of taxes (benefit) of $8, $0, $4, and ($2), respectively	25	0	14	(5)
Total net change in market value of investments	25	0	14	(5)
Changes in market value of derivatives:
Changes in market value of derivatives, net of taxes (benefit) of $144, $7, ($140), and $38, respectively	467	23	(442)	120
Reclassification adjustment for net gains (losses) included in net income, net of taxes (benefit) of $30, $9, $120, and ($7), respectively	97	29	381	(21)
Total net change in market value of derivatives	564	52	(61)	99
Other comprehensive income (loss)	703	136	(494)	145
Total comprehensive income	$ 53,321	$ 47,861	$ 62,375	$ 44,425

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Changes in unrealized losses, tax expense (benefit)	$ 8	$ 0	$ 4	$ (2)
Changes in market value of derivatives, tax expense (benefit)	144	7	(140)	38
Reclassification adjustment for net gains (losses) included in net income (loss), tax expense (benefit)	$ 30	$ 9	$ 120	$ (7)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock Voting	Additional Paid In Capital	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Retained Earnings
Beginning balance, common stock (in shares) at Mar. 31, 2021		124,197,974
Beginning balance at Mar. 31, 2021	$ 2,005,779	$ 124	$ 2,955,400	$ (1,940)	$ (1,322,496)	$ 374,691
Beginning balance, treasury stock (in shares) at Mar. 31, 2021					50,446,359
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	44,280					44,280
Unrealized net investment gains	(5)			(5)
Unrealized net gain (loss) on derivative financial instruments	99			99
Cumulative translation adjustments	51			51
Issuance of common stock pursuant to vesting of restricted stock units (in shares)		1,688,026
Issuance of common stock pursuant to vesting of restricted stock units	2	$ 2
Stock-based compensation expense for restricted stock units granted to employees	41,389		41,389
Issuance of common stock under employee stock purchase plan (in shares)		251,308
Issuance of common stock under employee stock purchase plan	6,890		6,890
Repurchase of treasury stock (in shares)					1,862,403
Repurchase of treasury stock	(50,898)				$ (50,898)
Ending balance, common stock (in shares) at Dec. 31, 2021		126,137,308
Ending balance at Dec. 31, 2021	2,047,587	$ 126	3,003,679	(1,795)	$ (1,373,394)	418,971
Ending balance, treasury stock (in shares) at Dec. 31, 2021					52,308,762
Beginning balance, common stock (in shares) at Sep. 30, 2021		126,108,858
Beginning balance at Sep. 30, 2021	1,999,004	$ 126	2,991,704	(1,931)	$ (1,362,141)	371,246
Beginning balance, treasury stock (in shares) at Sep. 30, 2021					51,891,197
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	47,725					47,725
Unrealized net investment gains	0
Unrealized net gain (loss) on derivative financial instruments	52			52
Cumulative translation adjustments	84			84
Issuance of common stock pursuant to vesting of restricted stock units (in shares)		28,450
Issuance of common stock pursuant to vesting of restricted stock units	0	$ 0
Stock-based compensation expense for restricted stock units granted to employees	11,975		11,975
Repurchase of treasury stock (in shares)					417,565
Repurchase of treasury stock	(11,253)				$ (11,253)
Ending balance, common stock (in shares) at Dec. 31, 2021		126,137,308
Ending balance at Dec. 31, 2021	$ 2,047,587	$ 126	3,003,679	(1,795)	$ (1,373,394)	418,971
Ending balance, treasury stock (in shares) at Dec. 31, 2021					52,308,762
Beginning balance, common stock (in shares) at Mar. 31, 2022	74,102,293	126,425,383
Beginning balance at Mar. 31, 2022	$ 2,060,395	$ 126	3,023,403	141	$ (1,373,840)	410,565
Beginning balance, treasury stock (in shares) at Mar. 31, 2022	52,323,090				52,323,090
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 62,869					62,869
Unrealized net investment gains	14			14
Unrealized net gain (loss) on derivative financial instruments	(61)			(61)
Cumulative translation adjustments	(447)			(447)
Issuance of common stock pursuant to vesting of restricted stock units (in shares)		1,758,002
Issuance of common stock pursuant to vesting of restricted stock units	2	$ 2
Stock-based compensation expense for restricted stock units granted to employees	45,068		45,068
Issuance of common stock under employee stock purchase plan (in shares)		206,029
Issuance of common stock under employee stock purchase plan	6,539		6,539
Repurchase of treasury stock (in shares)					5,104,980
Repurchase of treasury stock	$ (169,226)		2,856		$ (172,082)
Ending balance, common stock (in shares) at Dec. 31, 2022	70,961,344	128,389,414
Ending balance at Dec. 31, 2022	$ 2,005,153	$ 128	3,077,866	(353)	$ (1,545,922)	473,434
Ending balance, treasury stock (in shares) at Dec. 31, 2022	57,428,070				57,428,070
Beginning balance, common stock (in shares) at Sep. 30, 2022		128,373,156
Beginning balance at Sep. 30, 2022	$ 1,937,646	$ 128	3,015,644	(1,056)	$ (1,497,886)	420,816
Beginning balance, treasury stock (in shares) at Sep. 30, 2022					56,129,506
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	52,618					52,618
Unrealized net investment gains	25			25
Unrealized net gain (loss) on derivative financial instruments	564			564
Cumulative translation adjustments	114			114
Issuance of common stock pursuant to vesting of restricted stock units (in shares)		16,258
Issuance of common stock pursuant to vesting of restricted stock units	0
Stock-based compensation expense for restricted stock units granted to employees	14,366		14,366
Repurchase of treasury stock (in shares)					1,298,564
Repurchase of treasury stock	$ (180)		47,856		$ (48,036)
Ending balance, common stock (in shares) at Dec. 31, 2022	70,961,344	128,389,414
Ending balance at Dec. 31, 2022	$ 2,005,153	$ 128	$ 3,077,866	$ (353)	$ (1,545,922)	$ 473,434
Ending balance, treasury stock (in shares) at Dec. 31, 2022	57,428,070				57,428,070

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2022
Cash flows from operating activities:
Net income	$ 52,618	$ 47,725	$ 62,869	$ 44,280
Adjustments to reconcile net income to cash provided by operating activities, net of the effects of acquisitions:
Depreciation and amortization			64,302	72,047
Loss on extinguishment of debt			0	596
Operating lease right-of-use assets			7,984	7,589
Loss on disposal of fixed assets			47	2
Share-based compensation expense			47,225	43,381
Change in fair value of contingent consideration			0	(837)
Deferred income taxes			(38,435)	(11,093)
Other losses (gains)			9	(21)
Changes in assets and liabilities
Accounts receivable and unbilled costs			(67,101)	(36,211)
Inventories			8,323	(1,265)
Prepaid expenses and other assets			4,279	(1,031)
Accounts payable			(7,129)	844
Accrued compensation and other expenses			(7,804)	(13,438)
Operating lease liabilities			(9,061)	(8,855)
Income taxes payable			(2,675)	(1,861)
Deferred revenue			(18,910)	46,260
Net cash provided by operating activities			43,923	140,387
Cash flows from investing activities:
Purchase of marketable securities			(100,265)	(11,343)
Proceeds from sales and maturity of marketable securities			103,152	15,264
Purchase of fixed assets			(8,381)	(7,004)
Purchase of intangible assets			(161)	0
Decrease in deposits			8	28
Net cash used in investing activities			(5,647)	(3,055)
Cash flows from financing activities:
Issuance of common stock under stock plans			2	2
Treasury stock repurchases, including accelerated share repurchases			(150,039)	(35,652)
Tax withholding on restricted stock units			(19,187)	(15,246)
Payment of debt issuance costs			0	(3,660)
Repayment of long-term debt			(150,000)	(350,000)
Proceeds from issuance of long-term debt			0	350,000
Collection of contingent consideration			0	837
Net cash used in financing activities			(319,224)	(53,719)
Effect of exchange rate changes on cash and cash equivalents			(3,169)	(2,684)
Net (decrease) increase in cash and cash equivalents			(284,117)	80,929
Cash and cash equivalents, beginning of period			636,161	467,176	$ 467,176
Cash and cash equivalents, end of period	$ 352,044	$ 548,105	352,044	548,105	$ 636,161
Supplemental disclosures:
Cash paid for interest			5,351	3,716
Cash paid for income taxes			47,294	24,677
Non-cash transactions:
Transfers of inventory to fixed assets			1,371	2,657
Additions to property, plant and equipment included in accounts payable			622	361
Issuance of common stock under employee stock plans			$ 6,539	$ 6,890

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying unaudited interim consolidated financial statements have been prepared by NetScout Systems, Inc. (NetScout or the Company). Certain information and footnote disclosures normally included in financial statements prepared under United States generally accepted accounting principles (GAAP) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). In the opinion of management, the unaudited interim consolidated financial statements include all adjustments, consisting of normal recurring adjustments, necessary for a fair statement of the Company's financial position and stockholders' equity, results of operations and cash flows. The year-end consolidated balance sheet data and statement of stockholders' equity were derived from the Company's audited financial statements, but do not include all disclosures required by GAAP. The results reported in these unaudited interim consolidated financial statements are not necessarily indicative of results that may be expected for the entire year. All significant intercompany accounts and transactions are eliminated in consolidation. These unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements, including the notes thereto, included in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2022 filed with the Securities and Exchange Commission on May 19, 2022. Global and Macroeconomic Conditions The Company continues to closely monitor the current global and macroeconomic conditions, including the impact of the war in Ukraine, global geopolitical tension, stock market volatility, exchange rate fluctuations, rising inflation and interest rates, the risk of a recession, and the coronavirus (COVID-19) pandemic on all aspects of its business, including the manner and extent to which they have impacted and could continue to impact its customers, employees, supply chain, and distribution network. The impacts of these global and macroeconomic trends remain uncertain. It is possible that the measures taken by the governments of countries affected and the resulting economic impacts may materially and adversely affect the Company's future results of operations, cash flows and financial position as well as its customers. The Company has the responsibility to evaluate whether conditions and/or events raise substantial doubt about its ability to meet its future financial obligations as they become due within one year after the date that the financial statements are issued. The Company has taken and continues to take precautionary actions to manage costs and spending across the organization. This includes managing discretionary spending and hiring activities. In addition, based on covenant levels, the Company had, as of December 31, 2022, an incremental $600 million available under its revolving credit facility. On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (the CARES Act) was enacted. The CARES Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations and technical corrections to tax depreciation methods for qualified improvement property. The Company had elected to defer the employer-paid portion of social security taxes. The Company had deferred $4.5 million of employer payroll taxes, which was included as accrued other in the Company's consolidated balance sheet at March 31, 2022. The balance was paid in December 2022. The Company expects net cash provided by operations combined with cash, cash equivalents, and marketable securities and borrowing availability under the revolving credit facility to provide sufficient liquidity to fund current obligations, capital spending, debt service requirements and working capital requirements over at least the next twelve months. Recent Accounting Pronouncements In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires companies to recognize and measure contract assets and contract liabilities acquired in a business combination as if the acquiring company originated the related revenue contracts. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. ASU 2021-08 is effective for the Company beginning April 1, 2023. Amendments within the standard are required to be applied on a prospective basis from the date of adoption. The adoption is not expected to have a material impact on the Company's financial position, results of operations, and disclosures. We will apply the provisions of ASU 2021-08 after adoption to future acquisitions, if any. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments provide optional guidance for a limited time to ease the potential burden in accounting for reference rate reform. The new guidance provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain

REVENUE

REVENUE	9 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Revenue Recognition Policy The Company exercises judgment and uses estimates in connection with determining the amounts of product and service revenues to be recognized in each accounting period. The Company derives revenues primarily from the sale of network management tools and cybersecurity solutions for service provider and enterprise customers, which include hardware, software, and service offerings. The Company's product sales consist of software only offerings and offerings which include hardware appliances with embedded software that are essential to providing customers the intended functionality of the solutions. The Company accounts for revenue once a legally enforceable contract with a customer has been approved by the parties and the related promises to transfer products or services have been identified. A contract is defined by the Company as an arrangement with commercial substance identifying payment terms, each party’s rights and obligations regarding the products or services to be transferred and the amount the Company deems probable of collection. Customer contracts may include promises to transfer multiple products and services to a customer. Determining whether the products and services are considered distinct performance obligations that should be accounted for separately or as one combined performance obligation may require significant judgment. Revenue is recognized when control of the products or services are transferred to the Company's customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for products and services. Product revenue is typically recognized upon fulfillment, provided a legally enforceable contract exists, control has passed to the customer, and in the case of software products, when the customer has the rights and ability to access the software, and collection of the related receivable is probable. If any significant obligations to the customer remain post-delivery, typically involving obligations relating to installation and acceptance by the customer, revenue recognition is deferred until such obligations have been fulfilled. The Company's service offerings include installation, integration, extended warranty and maintenance services, post-contract customer support, stand-ready software-as-a-service (SAAS) and other professional services including consulting and training. The Company generally provides software and/or hardware support as part of product sales. Revenue related to the initial bundled software and hardware support is recognized ratably over the support period. In addition, customers can elect to purchase extended support agreements for periods after the initial software/hardware warranty expiration. Support services generally include rights to unspecified upgrades (when and if available), telephone and internet-based support, updates, bug fixes and hardware repair and replacement. Consulting services are recognized upon delivery or completion of performance depending on the terms of the underlying contract. Reimbursements of out-of-pocket expenditures incurred in connection with providing consulting services are included in services revenue, with the offsetting expense recorded in cost of service revenue. Training services include on-site and classroom training. Training revenues are recognized upon delivery of the training. Generally, the Company's contracts are accounted for individually. However, when contracts are closely interrelated and dependent on each other, it may be necessary to account for two or more contracts as one to reflect the substance of the group of contracts. Bundled arrangements are concurrent customer purchases of a combination of the Company's product and service offerings that may be delivered at various points in time. The Company allocates the transaction price among the performance obligations in an amount that depicts the relative standalone selling prices (SSP) of each obligation. Judgment is required to determine the SSP for each distinct performance obligation. The Company uses a range of amounts to estimate SSP when it sells each of the products and services separately based primarily on the performance obligation's historical pricing. The Company also considers its overall pricing objectives and practices across different sales channels and geographies, and market conditions. Generally, the Company has established SSP for a majority of its service performance obligations based on historical standalone sales. In certain instances, the Company has established SSP for services based upon an estimate of profitability and the underlying cost to fulfill those services. SSP has primarily been established for product performance obligations as the average or median selling price the performance obligation was recently sold for, whether sold alone or sold as part of a bundle transaction. The Company reviews sales of the product performance obligations on a quarterly basis and updates, when appropriate, its SSP for such performance obligations to ensure that it reflects recent pricing experience. The Company's products are distributed through its direct sales force and indirect distribution channels through alliances with resellers and distributors. Revenue arrangements with resellers and distributors are recognized on a sell-in basis; that is, when control of the product transfers to the reseller or distributor. The Company records consideration given to a customer as a reduction of revenue to the extent they have recorded revenue from the customer. With limited exceptions, the Company's return policy does not allow product returns for a refund. Returns have been insignificant to date. In addition, the Company has a history of successfully collecting receivables from its resellers and distributors. During the nine months ended December 31, 2022, the Company recognized revenue of $277.1 million related to the Company's deferred revenue balance reported at March 31, 2022. Performance Obligations Customer contracts may include promises to transfer multiple products and services to a customer. Determining whether the products and services are considered distinct performance obligations that should be accounted for separately or as one combined performance obligation may require significant judgment. The transaction price is allocated among performance obligations in bundled contracts in an amount that depicts the relative standalone selling prices of each obligation. For contracts involving distinct hardware and software licenses, the performance obligations are satisfied at a point in time when control is transferred to the customer. For standalone maintenance and post-contract support (PCS) the performance obligation is satisfied ratably over the contract term as a stand-ready obligation. For consulting and training services, the performance obligation may be satisfied over the contract term as a stand-ready obligation, satisfied over a period of time as those services are delivered, or satisfied at the completion of the service when control has transferred, or the services have expired unused. Payments for hardware, software licenses, one-year maintenance, PCS and consulting services, are typically due up front with payment terms of 30 to 90 days. However, the Company does have contracts pursuant to which billings occur ratably over a period of years following the transfer of control for the contracted performance obligations. Payments on multi-year maintenance, PCS and consulting services are typically due in annual installments over the contract term. The Company did not have any material variable consideration such as obligations for returns, refunds or warranties at December 31, 2022. At December 31, 2022, the Company had total deferred revenue of $444.9 million, which represents the aggregate total contract price allocated to undelivered performance obligations. The Company expects to recognize $317.4 million, or 71%, of this revenue during the next 12 months, and expects to recognize the remaining $127.5 million, or 29%, of this revenue thereafter. Because of NetScout's revenue recognition policies, there are circumstances for which the Company does not recognize revenue relating to sales transactions that have been billed, but the related account receivable has not been collected. While the receivable represents an enforceable obligation, the Company does not believe its right to payment is unconditional, therefore for balance sheet presentation purposes, the Company has not recognized the deferred revenue or the related account receivable and no amounts appear in the consolidated balance sheets for such transactions because control of the underlying deliverable has not transferred. The aggregate amount of unrecognized accounts receivable and deferred revenue was $3.7 million and $9.4 million at December 31, 2022 and March 31, 2022, respectively. NetScout expects that the amount of billed and unbilled deferred revenue will change from quarter to quarter for several reasons, including the specific timing, duration and size of large customer support and service agreements, varying billing cycles of such agreements, th e specific timing of customer renewals, and foreign currency fluctuations. The Company did not have material significant financing components, or variable consideration or performance obligations satisfied in a prior period recognized during the nine months ended December 31, 2022. Contract Balances The Company may receive payments from customers based on billing schedules as established by the Company's contracts. Contract assets relate to performance obligations where control has transferred to the customer in advance of scheduled billings. The Company records unbilled accounts receivable representing the right to consideration in exchange for goods or services that have been transferred to a customer conditional on the passage of time. Deferred revenue relates to scenarios where billings with an unconditional right to payment occur before all performance obligations are delivered or payments are received in advance of performance under the contract. Costs to Obtain Contracts The Company has determined that the only significant incremental costs incurred to obtain contracts with customers within the scope of Topic 606 are sales commissions paid to its employees. Sales commissions are recorded as an asset and amortized to expense ratably over the remaining performance periods of the related contracts with remaining performance obligations. The Company expenses costs as incurred for sales commissions when the amortization period would have been one year or less. At December 31, 2022, the consolidated balance sheet included $9.3 million in assets related to sales commissions to be expensed in future periods. A balance of $4.7 million was included in prepaid expenses and other current assets, and a balance of $4.6 million was included in other assets in the Company's consolidated balance sheet at December 31, 2022. At March 31, 2022, the consolidated balance sheet included $8.8 million in as sets related to sales commissions to be expensed in future periods. A balance of $4.6 million was included in prepaid expenses and other current assets, and a balance of $4.2 million was included in other assets in the Company's consolidated balance sheet at March 31, 2022. During the three and nine months ended December 31, 2022 and 2021, respectively, the Company recognized $1.8 million, $1.6 million, $5.2 million and $4.7 million of amortization related to this sales commission asset, which is included in the sales and marketing expense line in the Company's consolidated statements of operations. Allowance for Credit Losses The Company continually monitors collections from its customers. The Company evaluates the collectability of its accounts receivable and determines the appropriate allowance for credit losses based on a combination of factors, including but not limited to, analysis of the aging schedules, past due balances, historical collection experience and prevailing economic conditions. The following table summarizes the activity in the allowance for credit losses (in thousands): Balance at March 31, 2022 $ 1,649 Provision for allowance for credit losses 783 Recoveries and other adjustments 865 Write off charged against the allowance for credit losses (2,295) Balance at December 31, 2022 $ 1,002

CONCENTRATION OF CREDIT RISK AN

CONCENTRATION OF CREDIT RISK AND SIGNIFICANT CUSTOMERS	9 Months Ended
	Dec. 31, 2022
Risks and Uncertainties [Abstract]
CONCENTRATION OF CREDIT RISK AND SIGNIFICANT CUSTOMERS	CONCENTRATION OF CREDIT RISK AND SIGNIFICANT CUSTOMERS Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of investments, trade accounts receivable and accounts payable. The Company's cash, cash equivalents, and marketable securities are placed with financial institutions with high credit standings. At December 31, 2022, the Company had one direct customer which accounted for more than 10% of the accounts receivable balance, while no indirect channel partners accounted for more than 10% of the accounts receivable balance. At March 31, 2022, the Company had no direct customers or indirect channel partners which accounted for more than 10% of the accounts receivable balance. During the three and nine months ended December 31, 2022 and 2021, one direct customer, Verizon, accounted for more than 10% of the Company's total revenue, while no indirect channel partners accounted for more than 10% of total revenue.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	9 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION On September 12, 2019, the Company's stockholders approved the 2019 Equity Incentive Plan (2019 Plan), which replaced the Company's 2007 Equity Incentive Plan, as amended (Amended 2007 Plan). The 2019 Plan permits the granting of incentive and nonstatutory stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards, and other stock awards, collectively referred to as "share-based awards." On September 10, 2020, the Company's stockholders approved an amendment and restatement of the 2019 Plan (2019 Amended Plan) to increase the number of shares reserved for issua nce by 4,700,000 s hares, established a one-year minimum vesting requirement for awards granted on or after September 10, 2020, and changed the factor used to calculate the increase or reduction in the number of shares available for issuance under the 2019 Amended Plan. On A ugust 24, 2022, the Company's stockholders approved an amendment to the 2019 Amended Plan (2019 Second Amended Plan). This amendment increased the number of shares reserved for issuance by 7,000,000 shares and changed the factor used to calculate the increase or reduction in the number of shares available for issuance under the 2019 Second Amended Plan. At August 24, 2022, there was a total of 8,764,811 shares reserved for issuance under the 2019 Second Amended Plan, which consisted of 7,000,000 new shares plus 1,764,811 shares that remained available for grant under the 2019 Amended Plan as of August 24, 2022, the effective date of the 2019 Second Amended Plan. At December 31, 2022, an aggregate of 6,235,096 shares remained available for grant under the 2019 Second Amended Plan. Periodically, the Company grants share-based awards to employees, officers, and directors of the Company and its subsidiaries. During the fiscal years ended March 31, 2023 and 2022, the Company granted performance-based restricted stock units to certain executive officers that vest based upon the Company's total shareholder return as compared to the Russell 2000 Index over a three-year period. The performance-based restricted stock units were valued using the Monte Carlo Simulation model. The measurement and recognition of compensation expense is based on estimated fair values for all share-based payment awards made to its employees and directors. Share-based award grants are generally measured at fair value on the date of grant based on the number of shares granted and the quoted price of the Company's common stock. Such value is recognized as a cost of revenue or an operating expense over the corresponding vesting period. The following is a summary of share-based compensation expense including restricted stock units and performance-based restricted stock units granted pursuant to the Company's Amended 2007 Plan, the 2019 Plan, the 2019 Amended Plan, and the 2019 Second Amended Plan, and employee stock purchases made under the Company's 2011 Amended and Restated Employee Stock Purchase Plan (ESPP), based on estimated fair values within the applicable cost and expense lines identified below (in thousands): Three Months Ended Nine Months Ended December 31, December 31, 2022 2021 2022 2021 Cost of product revenue $ 262 $ 214 $ 869 $ 809 Cost of service revenue 1,781 1,302 5,606 4,822 Research and development 4,174 3,297 13,185 12,290 Sales and marketing 5,445 4,727 17,238 15,383 General and administrative 3,481 3,141 10,327 10,077 $ 15,143 $ 12,681 $ 47,225 $ 43,381 Employee Stock Purchase Plan – The Company maintains the ESPP for all eligible employees as described in the Company's Annual Report on Form 10-K for the year ended March 31, 2022. Under the ESPP, shares of the Company's common stock may be purchased on the last day of each bi-annual offering period at 85% of the fair value on the last day of such offering period. The offering periods run from March 1st through August 31st and from September 1st through the last day of February each year. During the nine months ended December 31, 2022, employees purch ased 206,029 shares under the ESPP and the fair value per share was $31.74. On August 24, 2022, the Company's stockholders approved an amendment to the ESPP that increased the number of shares available under the ESPP by an addition al 2,000,000 shares.

CASH, CASH EQUIVALENTS AND MARK

CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES	9 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES	CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents and those investments with original maturities greater than three months to be marketable securities. Cash and cash equi valents mainly consisted of U.S. government and municipal obligations, commercial paper, certificate of deposits, money market instruments and cash maintained with various financial institutions at December 31, 2022 and March 31, 2022. Marketable Securities The following is a summary of marketable securities held by NetScout at December 31, 2022, classified as short-term and long-term (in thousands): Amortized Unrealized Fair Type of security: U.S. government and municipal obligations $ 19,211 $ (1) $ 19,210 Commercial paper 33,487 — 33,487 Corporate bonds 1,130 (1) 1,129 Certificates of deposit 3,436 — 3,436 Total short-term marketable securities 57,264 (2) 57,262 U.S. government and municipal obligations 6,919 (13) 6,906 Total long-term marketable securities 6,919 (13) 6,906 Total marketable securities $ 64,183 $ (15) $ 64,168 The following is a summary of marketable securities held by NetScout at March 31, 2022, classified as short-term and long-term (in thousands): Amortized Unrealized Fair Type of security: U.S. government and municipal obligations $ 40,895 $ (32) $ 40,863 Commercial paper 23,353 — 23,353 Corporate bonds 823 (2) 821 Certificates of deposit 2,000 — 2,000 Total short-term marketable securities 67,071 (34) 67,037 Total long-term marketable securities — — — Total marketable securities $ 67,071 $ (34) $ 67,037 Contractual maturities of the Company's marketable securities held at December 31, 2022 and March 31, 2022 were as follows (in thousands): December 31, March 31, Available-for-sale securities: Due in 1 year or less $ 57,262 $ 67,037 Due after 1 year through 5 years 6,906 — $ 64,168 $ 67,037

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs, and Level 3 includes fair values estimated using significant non-observable inputs. The following tables present the Company's financial assets and liabilities measured on a recurring basis using the fair value hierarchy at December 31, 2022 and March 31, 2022 (in thousands): Fair Value Measurements at December 31, 2022 Level 1 Level 2 Level 3 Total ASSETS: Cash and cash equivalents $ 306,572 $ 45,472 $ — $ 352,044 U.S. government and municipal obligations 23,499 2,617 — 26,116 Commercial paper — 33,487 — 33,487 Corporate bonds 1,129 — — 1,129 Certificate of deposits — 3,436 — 3,436 Derivative financial instruments — 40 — 40 $ 331,200 $ 85,052 $ — $ 416,252 LIABILITIES: Derivative financial instruments $ — $ (188) $ — $ (188) $ — $ (188) $ — $ (188) Fair Value Measurements at March 31, 2022 Level 1 Level 2 Level 3 Total ASSETS: Cash and cash equivalents $ 617,734 $ 18,427 $ — $ 636,161 U.S. government and municipal obligations 40,863 — — 40,863 Commercial paper — 23,353 — 23,353 Corporate bonds 821 — — 821 Certificate of deposits — 2,000 — 2,000 Derivative financial instruments — 20 — 20 $ 659,418 $ 43,800 $ — $ 703,218 LIABILITIES: Derivative financial instruments $ — $ (78) $ — $ (78) $ — $ (78) $ — $ (78) This hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. On a recurring basis, the Company measures certain financial assets and liabilities at fair value, including marketable securities and derivative financial instruments. The Company's Level 1 investments are classified as such because they are valued using quoted market prices or alternative pricing sources with reasonable levels of price transparency. The Company's Level 2 investments are classified as such because they are valued using observable inputs other than Level 1 quoted prices that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, or quoted prices for identical or similar assets in markets that are not active.

INVENTORIES

INVENTORIES	9 Months Ended
	Dec. 31, 2022
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories are stated at the lower of actual cost or net realizable value. Cost is determined by using the first in, first out (FIFO) method. Inventories consist of the following (in thousands): December 31, March 31, Raw materials $ 12,231 $ 14,779 Work in process 213 695 Finished goods 5,154 5,761 Deferred costs 1,023 6,985 $ 18,621 $ 28,220

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	9 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS Goodwill The Company has one reporting unit. The Company assesses goodwill for impairment at the reporting unit level at least annually, or on an interim basis if an event occurs or circumstances change that would, more likely than not, reduce the fair value of the reporting unit below its carrying value. The Company completed its annual impairment test on January 31, 2022 using the qualitative assessment as the Company concluded that it was more likely than not that the fair value of the reporting unit exceeded its carrying value. At December 31, 2022 and March 31, 2022, the carrying amount of goodwill was $1.7 billion. The change in the carrying amount of goodwill for the nine months ended December 31, 2022 was due to the impact of foreign curre ncy translation adjustments related to asset balances that are recorded in currencies other than the U.S. Dollar. The following table summarizes the changes in the carrying amount of goodwill for the nine months ended December 31, 2022 as follows (in thousands): Balance at March 31, 2022 $ 1,723,156 Foreign currency translation impact 2,573 Balance at December 31, 2022 $ 1,725,729 Intangible Assets The net carrying amounts of intangible asse ts were $382.3 million and $433.4 million at December 31, 2022 and March 31, 2022, respectively. Intangible assets acquired in a business combination are recorded under the acquisition method of accounting at their estimated fair values at the date of acquisition. The Company amortizes acquired intangible assets over their estimated useful lives. Intangible assets include the following amortizable intangible assets at December 31, 2022 (in thousands): Estimated Useful Life in Years Cost Accumulated Net Developed technology 3 - 13 years $ 249,470 $ (230,700) $ 18,770 Customer relationships 8 - 18 years 766,635 (420,678) 345,957 Distributor relationships and technology licenses 1 - 6 years 11,521 (9,803) 1,718 Definite-lived trademark and trade name 2 - 9 years 57,627 (42,026) 15,601 Core technology 10 years 7,192 (7,192) — Non-compete agreements 3 years 292 (292) — Capitalized software 3 years 3,317 (3,317) — Other 1 - 20 years 1,208 (997) 211 $ 1,097,262 $ (715,005) $ 382,257 Intangible assets include the following amortizable intangible assets at March 31, 2022 (in thousands): Estimated Useful Life in Years Cost Accumulated Net Developed technology 3 - 13 years $ 250,247 $ (224,426) $ 25,821 Customer relationships 8 - 18 years 769,404 (384,347) 385,057 Distributor relationships and technology licenses 1 - 6 years 11,408 (8,896) 2,512 Definite-lived trademark and trade name 2 - 9 years 57,748 (37,944) 19,804 Core technology 10 years 7,192 (7,192) — Non-compete agreements 3 years 292 (292) — Capitalized software 3 years 3,317 (3,317) — Other 1 - 20 years 1,208 (983) 225 $ 1,100,816 $ (667,397) $ 433,419 Amortization included as cost of product revenue consists of amortization of developed technology, distributor relationships and technology licenses, core technology and software. Amortization included as operating expense consists of all other intangible assets. The following table provides a summary of amortization expense for the three and nine months ended December 31, 2022 and 2021 , respectively (in thousands): Three Months Ended Nine Months Ended December 31, December 31, 2022 2021 2022 2021 Amortization of intangible assets included as: Cost of product revenue $ 2,627 $ 3,643 $ 7,908 $ 10,959 Operating expense 13,823 14,924 41,515 44,910 $ 16,450 $ 18,567 $ 49,423 $ 55,869 The following is the expected future amortization expense at December 31, 2022 for the fiscal years ending March 31 (in thousands): 2023 (remaining three months) $ 16,515 2024 57,878 2025 50,713 2026 46,357 2027 43,480 Thereafter 167,314 $ 382,257

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	9 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES NetScout operates internationally and, in the normal course of business, is exposed to fluctuations in foreign currency exchange rates. The exposures result from costs that are denominated in currencies other than the U.S. Dollar, primarily the Euro, British Pound, Canadian Dollar, and Indian Rupee. The Company manages its foreign cash flow risk by hedging forecasted cash flows for operating expenses denominated in foreign currencies for up to twelve months, within specified guidelines through the use of forward contracts. The Company enters into foreign currency exchange contracts to hedge cash flow exposures from costs that are denominated in currencies other than the U.S. Dollar. These hedges are designated as cash flow hedges at inception. NetScout also periodically enters into forward contracts to manage exchange rate risks associated with certain third-party transactions and for which the Company does not elect hedge accounting treatment as there is no difference in the timing of gain or loss recognition on the hedging instrument and the hedged item. All of the Company's derivative instruments are utilized for risk management purposes, and the Company does not use derivatives for speculative trading purposes. These contracts will mature over the next twelve months and are expected to impact earnings on or before maturity. The notional amounts and fair values of derivative instruments in the consolidated balance sheets at December 31, 2022 and March 31, 2022 were as follows (in thousands): Notional Amounts (a) Prepaid Expenses and Other Current Assets Accrued Other December 31, March 31, December 31, March 31, December 31, March 31, Derivatives Designated as Hedging Instruments: Forward contracts $ 11,955 $ 5,578 $ 40 $ 20 $ 188 $ 78 $ 40 $ 20 $ 188 $ 78 (a) Notional amounts represent the gross contract/notional amount of the derivatives outstanding. The following table provides the effect that foreign exchange forward contracts designated as hedging instruments had on other comprehensive income (OCI) and results of operations for the three months ended December 31, 2022 and 2021 (in thousands): Gain Recognized in Gain (Loss) Reclassified from December 31, December 31, Location December 31, December 31, Forward contracts $ 611 $ 30 Research and development $ 30 $ (2) Sales and marketing 97 40 $ 611 $ 30 $ 127 $ 38 (a) The amount represents the change in fair value of derivative contracts due to changes in spot rates. (b) The amount represents reclassification from other comprehensive income to earnings that occurs when the hedged item affects earnings. The following table provides the effect that foreign exchange forward contracts designated as hedging instruments had on other comprehensive income (OCI) and results of operations for the nine months ended December 31, 2022 and 2021 (in thousands): Gain (Loss) Recognized in Gain (Loss) Reclassified from December 31, December 31, Location December 31, December 31, Forward contracts $ (582) $ 158 Research and development $ 49 $ (17) Sales and marketing 452 (11) $ (582) $ 158 $ 501 $ (28) (a) The amount represents the change in fair value of derivative contracts due to changes in spot rates. (b) The amount represents reclassification from other comprehensive income to earnings that occurs when the hedged item affects earnings. The following table provides the effect that foreign exchange forward contracts not designated as hedging instruments had on the Company's results of operations for the nine months ended December 31, 2022 and 2021 (in thousands): Loss Recognized in Income Location December 31, December 31, Forward contracts General and administrative $ — $ (248) $ — $ (248) (a) The amount represents the change in fair value of derivative contracts due to changes in spot rates.

LONG-TERM DEBT

LONG-TERM DEBT	9 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT On July 27, 2021, the Company amended and extended the Amended Credit Agreement (Second Amended and Restated Credit Agreement) with a syndicate of lenders by and among: the Company; JPMorgan Chase Bank, N.A. (JPMorgan), as administrative agent and collateral agent; JPMorgan, Wells Fargo Securities, LLC, BofA Securities Inc., RBC Capital Markets, PNC Capital Markets LLC and Mizuho Bank, Ltd., as joint lead arrangers and joint bookrunners; Santander Bank, N.A., U.S. Bank National Association, Fifth Third Bank National Association, Silicon Valley Bank and TD Bank, N.A., as co-documentation agents; and the lenders party thereto. The Second Amended and Restated Credit Agreement provides for a five-year, $800.0 million senior secured revolving credit facility, including a letter of credit sub-facility of up to $75.0 million. The Company may elect to use the credit facility for general corporate purposes (including to finance the repurchase of shares of the Company's common stock). The commitments under the Second Amended and Restated Credit Agreement will expire on July 27, 2026, and any outstanding loans will be due on that date. In connection with the Second Amended and Restated Credit Agreement, during the fiscal year ended March 31, 2022, the Company paid off the outstanding balance of $350 million under the Amended Credit Agreement by borrowing the same amount under the Second Amended and Restated Credit Agreement. Additionally, the Company recorded a loss on the extinguishment of debt of $0.6 million, representing the write off of unamortized deferred financing costs, which was included in interest expense in the consolidated statements of operations for the fiscal year ended March 31, 2022. On May 9, 2022, the Company repaid $150.0 million of borrowings under the Second Amended and Restated Credit Agreement. At December 31, 2022, $200 million was outstanding under t he Second Amended and Restated Credit Agreement. At the Company's election, revolving loans under the Second Amended and Restated Credit Agreement bear interest at either (a) an Alternate Base Rate per annum equal to the greatest of (1) the Wall Street Journal prime rate; (2) the New York Federal Reserve Bank (NYFRB) rate plus 0.50%, or (3) an adjusted one month LIBO rate plus 1%; or (b) a Term Benchmark Borrowing rate (for the interest period selected by the Company, subject to customary provisions regarding succession from LIBO rate to SOF rate in anticipation of the upcoming discontinuation of the LIBO rate), in each case plus an applicable margin. For the period from the delivery of the Company's financial statements for the quarter ended September 30, 2022, until the Company has delivered financial statements for the quarter ended December 31, 2022, the applicable margin will be 1.00% per annum for Term Benchmark Revolving loans and 0% per annum for Alternate Base Rate loans, and thereafter the applicable margin will vary depending on the Company's consolidated gross leverage ratio, ranging from 1.00% per annum for Alternate Base Rate loans and 2.00% per annum for Term Benchmark Revolving loans if the Company's consolidated gross leverage ratio is greater than 3.50 to 1.00, down to 0% per annum for Alternate Base Rate loans and 1.00% per annum for Term Benchmark Revolving loans if the Company's consolidated gross leverage ratio is equal to or less than 1.50 to 1.00. The Company's consolidated gross leverage ratio is the ratio of its consolidated total debt compared to its consolidated EBITDA as defined in the Second Amended and Restated Credit Agreement (adjusted consolidated EBITDA). Adjusted consolidated EBITDA includes certain adjustments, including, without limitation, adjustments relating to extraordinary, unusual or non-recurring charges, certain restructuring charges, non-cash charges, certain transaction costs and expenses and certain pro forma adjustments in connection with material acquisitions and dispositions, all as set forth in detail in the Second Amended and Restated Credit Agreement. Commitment fees will accrue on the daily unused amount of the credit facility. For the period from the delivery of the Company's financial statements for the quarter ended September 30, 2022, until the Company has delivered financial statements for the quarter ended December 31, 2022, the commitment fee will be 0.15% per annum, and thereafter the commitment fee will vary depending on the Company's consolidated gross leverage ratio, ranging from 0.30% per annum if the Company's consolidated gross leverage ratio is greater than 2.75 to 1.00, down to 0.15% per annum if the Company's consolidated gross leverage ratio is equal to or less than 1.50 to 1.00. Letter of credit participation fees are payable to each lender providing the letter of credit sub-facility on the amount of such lender's letter of credit exposure, during the period from the closing date of the Second Amended and Restated Credit Agreement to, but excluding, the date which is the later of (i) the date on which such lender's commitment terminates or (ii) the date on which such lender ceases to have any letter of credit exposure, at the applicable rate that would be used to determine the interest rate applicable to Term Benchmark Revolving loans assuming such loans were outstanding during the period. Additionally, the Company will pay a fronting fee to each issuing bank in amounts to be agreed to between the Company and the applicable issuing bank. Interest on Alternate Base Rate loans is payable at the end of each calendar quarter. Interest on Term Benchmark Revolving loans is payable at the end of each interest rate period or at the end of each three-month interval within an interest rate period if the period is longer than three months. The Company may also prepay loans under the Second Amended and Restated Credit Agreement at any time, without penalty, subject to certain notice requirements. The loans and other obligations under the credit facility are (a) guaranteed by each of the Company’s wholly-owned material domestic restricted subsidiaries, subject to certain exceptions, and (b) are secured by substantially all of the assets of the Company and the subsidiary guarantors, including a pledge of all the capital stock of material subsidiaries held directly by the Borrower and the subsidiary guarantors (which pledge, in the case of any foreign subsidiary, is limited to 65% of the voting stock), subject to certain customary exceptions and limitations. The Second Amended and Restated Credit Agreement generally prohibits any other liens on the assets of the Company and its restricted subsidiaries, subject to certain exceptions as described in the Second Amended and Restated Credit Agreement. The Second Amended and Restated Credit Agreement contains certain covenants applicable to the Company and its restricted subsidiaries, including, without limitation, limitations on additional indebtedness, liens, various fundamental changes, dividends and distributions, investments (including acquisitions), transactions with affiliates, asset sales, including sale-leaseback transactions, speculative hedge agreements, payment of junior financing, changes in business and other limitations customary in senior secured credit facilities. The Second Amended and Restated Credit Agreement requires the Company to maintain a certain consolidated net leverage ratio and removes the previous requirement under the Amended Credit Agreement that the Company maintain a minimum consolidated interest coverage ratio. The Company's consolidated net leverage ratio is the ratio of its Consolidated Total Debt minus the lesser of unrestricted cash and 125% of adjusted consolidated EBITDA compared to its adjusted consolidated EBITDA. The Company’s maximum consolidated net leverage ratio is 4.00 to 1.00. These covenants and limitations are more fully described in the Second Amended and Restated Credit Agreement. As of December 31, 2022, the Company was in compliance with all covenants, including the specified total consolidated net leverage ratio range of 4.00 to 1.00. The Second Amended and Restated Credit Agreement provides that events of default will exist in certain circumstances, including failure to make payment of principal or interest on the loans when required, failure to perform certain obligations under the Second Amended and Restated Credit Agreement and related documents including a failure to meet the maximum total consolidated net leverage ratio covenant, defaults under certain other indebtedness, certain insolvency events, certain events arising under ERISA, a change of control and certain other events. Upon an event of default, the administrative agent with the consent of, or at the request of, the holders of more than 50% in principal amount of the loans and commitments, may terminate the commitments and accelerate the maturity of the loans and enforce certain other remedies under the Second Amended and Restated Credit Agreement and the other loan documents.

RESTRUCTURING CHARGES

RESTRUCTURING CHARGES	9 Months Ended
	Dec. 31, 2022
Restructuring and Related Activities [Abstract]
RESTRUCTURING CHARGES	RESTRUCTURING CHARGES During the first quarter of fiscal year 2023, the Company restructured certain departments to better align functions resulting in the termination of eighteen employees. As a result of the workforce reduction, during the nine months ended December 31, 2022, the Company recorded a restructuring charge t otaling $1.9 million relat ed to one-time employee-related termination benefits for the employees that were notified of their termination during the period. The one-time termination benefits are expected to be paid in full during the fiscal year ending March 31, 2023. The following table provides a summary of the activity related to the restructuring plan and the restructuring liability (in thousands): Q1FY23 Plan Balance at March 31, 2022 $ — Restructuring charges to operations 1,861 Cash payments (1,593) Other adjustments (128) Balance at December 31, 2022 $ 140

LEASES

LEASES	9 Months Ended
	Dec. 31, 2022
Leases [Abstract]
LEASES	LEASESThe Company determines if an arrangement is a lease at inception. Right-of-use (ROU) assets represent the Company's right to use an underlying asset for the duration of the lease term. Lease liabilities represent the Company's contractual obligation to make lease payments over the lease term. The Company's policy is to combine lease and non-lease components and to not recognize ROU assets and lease liabilities for short-term leases. Leases with an initial term of twelve months or less are classified as short-term leases. ROU assets are recorded and recognized at commencement for the lease liability amount, plus initial direct costs incurred less lease incentives received. Lease liabilities are recorded at the present value of future lease payments over the lease term at commencement. The discount rate used is generally the Company's estimated incremental borrowing rate unless the lessor's implicit rate is readily determinable. Incremental borrowing rates are calculated periodically to estimate the rate the Company would pay to borrow the funds necessary to obtain an asset of similar value over a similar term. Lease expenses relating to operating leases are recognized on a straight-line basis over the lease term. The Company has operating leases for administrative, research and development, sales and marketing and manufacturing facilities and equipment under various non-cancelable lease agreements. The Company's leases have remaining lease terms ranging from 1 year to 8 years. The Company's lease terms may include options to extend or terminate the lease where it is reasonably certain that the Company will exercise those options. The Company considers several economic factors when making this determination, including but not limited to, the significance of leasehold improvements incurred in the office space, the difficulty in replacing the asset, underlying contractual obligations, or specific characteristics unique to a particular lease. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company has an obligation to return certain leased facilities to their original condition at the end of the respective lease term. These obligations were not material to the Company's financial statements for all periods presented. Most of the Company's lease agreements contain variable payments, primarily for common area maintenance (CAM), which are expensed as incurred and not included in the measurement of the ROU assets and lease liabilities. The components of operating lease cost for the three and nine months ended December 31, 2022 and 2021, respectively, were as follows (in thousands): Three Months Ended Nine Months Ended December 31, December 31, 2022 2021 2022 2021 Lease cost under long-term operating leases $ 3,078 $ 3,187 $ 9,285 $ 9,659 Lease cost under short-term operating leases 870 1,247 2,849 2,990 Variable lease cost under short-term and long-term operating leases 821 925 2,677 2,508 Total operating lease cost $ 4,769 $ 5,359 $ 14,811 $ 15,157 The table below presents supplemental cash flow information related to leases during the nine months ended December 31, 2022 and 2021 (in thousands): December 31, 2022 December 31, 2021 Right-of-use assets obtained in exchange for new operating lease liabilities $ 4,215 $ 2,461 At December 31, 2022 and March 31, 2022, the weighted average remaining lease term in years and weighted average discount rate were as follows: December 31, 2022 March 31, 2022 Weighted average remaining lease term in years - operating leases 6.39 6.98 Weighted average discount rate - operating leases 4.1 % 4.0 % Future minimum payments under non-cancellable leases at December 31, 2022 are as follows (in thousands): Year ending March 31: 2023 (remaining three months) $ 2,431 2024 12,682 2025 12,018 2026 10,362 2027 8,180 Thereafter 22,901 Total lease payments $ 68,574 Less imputed interest (8,213) Present value of lease liabilities $ 60,361

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES From time to time, NetScout is subject to legal proceedings and claims in the ordinary course of business. In the opinion of management, the amount of ultimate expense with respect to any current legal proceedings and claims, if determined adve rsely, will not have a material adverse effect on the Company's financial condition, results of operations or cash flows. As previously disclosed, in March 2016, Packet Intelligence LLC (Packet Intelligence or Plaintiff) filed a Complaint against NetScout and two subsidiary entities in the United States District Court for the Eastern District of Texas asserting infringement of five United States patents. Plaintiff's Complaint alleged that legacy Tektronix GeoProbe products, including the G10 and GeoBlade products, infringed these patents. NetScout filed an Answer denying Plaintiff's allegations and asserting that Plaintiff's patents were, among other things, invalid, not infringed, and unenforceable due to inequitable conduct. In October 2017, a jury trial was held to address the parties' claims and counterclaims regarding infringement of three patents by the G10 and GeoBlade products, invalidity of these patents, and damages. In October 2017, the jury rendered a verdict finding in favor of the Plaintiff and that Plaintiff was entitled to $3,500,000 for pre-suit damages and $2,250,000 for post-suit damages. The jury indicated that the awarded damages amounts were intended to reflect a running royalty. In September 2018, the Court entered judgment and "enhanced" the jury verdict in the amount of $2.8 million as a result of a jury finding. The judgment also awarded pre- and post-judgment interest, and a running royalty on the G10 and GeoBlade products until the expiration of the patents at issue, the last date being June 2022. Following the entry of final judgment, NetScout appealed, and in July 2020, the Court of Appeals for the Federal Circuit (Federal Circuit) issued a decision vacating the $3,500,000 pre-suit damages award, affirming the $2,250,000 post-suit damages award, and remanding to the district court to determine what, if any, enhancement should be awarded. In March 2021, NetScout filed a petition for a writ of certiorari to the United States Supreme Court, which was subsequently denied, challenging, among other issues, the basis for enhanced damages and the patentability of the claimed technology. In addition, on September 8 and 9, 2021, in proceedings initiated by third parties that did not involve NetScout, the Patent Trial and Appeal Board (PTAB) invalidated all the patent claims that were also asserted against NetScout in this case. After the PTAB decisions were issued, NetScout moved, among other things, to dismiss the case and enter judgment in its favor on the grounds that the PTAB decisions invalidating the asserted claims precluded Plaintiff from continuing to assert its patent infringement causes of action and from seeking damages from NetScout. The District Court denied NetScout’s motion with respect to its request to dismiss the case and enter judgment in its favor, but in response to alternative requests for relief requested by NetScout, vacated $1.7 million of the "enhanced" jury verdict amount of $2.8 million and also lowered the ongoing royalty rate on the G10 and GeoBlade products. The District Court entered an amended final judgment awarding Plaintiff $2.25 million in post-suit damages, $1.1 million in enhanced damages, pre- and post-judgment interest, and a running royalty on the G10 and GeoBlade products until the expiration of the patents at issue, the last expiration date being June 2022. On July 20, 2022, NetScout filed a notice of appeal to the Court of Appeals for the Federal Circuit from, among other things, the amended final judgment. The amended judgment is stayed pending the resolution of the appeal. In view of the current circumstances, and if the post-suit and enhanced damages award along with the associated interest and royalties survives the recent PTAB invalidation decisions and NetScout's appeal, NetScout has concluded that the risk of loss associated with such damages award remains "probable" in accounting terms, and that the risk of loss associated with pre-suit damages is remote.

PENSION BENEFIT PLANS

PENSION BENEFIT PLANS	9 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
PENSION BENEFIT PLANS	PENSION BENEFIT PLANS C ertain of the Company's non-U.S. employees participate in noncontributory defined benefit pension plans. None of the Company's employees in the U.S. participate in any noncontributory defined benefit pension plans. In general, these plans are funded based on considerations relating to legal requirements, underlying asset returns, the plan's funded status, the anticipated deductibility of the contribution, local practices, market conditions, interest rates and other factors . The following sets forth the components of the Company's net periodic pension cost of the noncontributory defined benefit pension plans for the three and nine months ended December 31, 2022 and 2021, respectively, (in thousands): Three Months Ended Nine Months Ended December 31, December 31, 2022 2021 2022 2021 Service cost $ 42 $ 41 $ 128 $ 129 Interest cost 85 83 261 263 Net periodic pension cost $ 127 $ 124 $ 389 $ 392 Expected Contributions During the nine months ended December 31, 2022, the Company made contributions of $0.3 million to its defined benefit pension plans. During the fiscal year ending March 31, 2023, the Company's cash contribution requirements for its defined benefit pension plans are expected to be less than $1.0 million. As a majority of the participants within the Company's plans are all active employees, the benefit payments are not expected to be material in the foreseeable future.

TREASURY STOCK

TREASURY STOCK	9 Months Ended
	Dec. 31, 2022
Equity [Abstract]
TREASURY STOCK	TREASURY STOCK On October 24, 2017, the Company's Board of Directors approved a share repurchase program that enabled the Company to repurchase up to twenty-five million shares of its common stock (2017 Share Repurchase Program). This program became effective when the Company's previously disclosed twenty million share repurchase program was completed. The Company was not obligated to acquire any specific amount of common stock within any particular timeframe as a result of this share repurchase program. Through December 31, 2022, the Company repurchased a total of 23,790,847 shares for $660.4 million in the open market under the 2017 Share Repurchase Program, and at December 31, 2022, 1,209,153 shares of common stock remained available to be purchased under the 2017 Sha re Repurchase Program. The Company repurchased 4,549,329 and 1,330,678 shares for $150.0 million and $35.7 million under the 2017 Share Repurchase Program during the nine months ended December 31, 2022 and 2021, respectively. On May 3, 2022, the Company's Board of Directors approved a new share repurchase program that enables the Company to repurchase up to twenty-five million shares of its common stock (2022 Share Repurchase Program). The 2022 Share Repurchase Program will become effective once the 2017 Share Repurchase Program is completed. The Company is not obligated to acquire any specific amount of common stock within any particular timeframe as a result of the 2022 Share Repurchase Program. On May 9, 2022, the Company entered into accelerated share repurchase (ASR) agreements with Mizuho Markets Americas LLC (Mizuho) and Wells Fargo Bank, National Association (Wells Fargo) (collectively, the Dealers) to repurchase an aggregate of $150 million of the Company's common stock via accelerated stock repurchase transactions under the 2017 Share Repurchase Program. Under the terms of the ASR, the Company made a $75 million payment to each of the Dealers on May 10, 2022, and received an initial delivery of 1,627,907 shares from each of the Dealers, or 3,255,814 shares in the aggregate, which was approximately 70 percent of the total number of shares of the Company's common stock expected to be repurchased under the ASR agreements. These shares reduced the number of shares of the Company's common stock available for repurchase under the 2017 Share Repurchase Program. Final settlement of the ASR agreements was completed in November 2022. As a result, the Company received an additional 651,213 shares from Mizuho and 642,302 shares from Wells Fargo, or 1,293,515 shares in the aggregate, for $47.9 million, which reduced the number of shares of the Company's common stock available to be repurchased under the 2017 Share Repurchase Program. In total, 4,549,329 shares of the Company's common stock were repurchased under the ASR agreements at an average cost per share of $32.97 during the nine months ended December 31, 2022. In connection with the delivery of shares of the Company's common stock upon vesting of restricted stock units, the Company withheld 555,651 shares and 531,725 shares at a cost of $19.2 million and $15.2 million, respectively, related to minimum statutory tax withholding requirements on these restricted stock units during the nine months ended December 31, 2022 and 2021, respectively. These withholding transactions do not fall under the share repurchase programs described above, and therefore do not reduce the number of shares that are available for repurchase under those programs.

NET INCOME PER SHARE

NET INCOME PER SHARE	9 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
NET INCOME PER SHARE	NET INCOME PER SHARE Calculations of the basic and diluted net income per share and potential common shares are as follows (in thousands, except for per share data): Three Months Ended Nine Months Ended December 31, December 31, 2022 2021 2022 2021 Numerator: Net income $ 52,618 $ 47,725 $ 62,869 $ 44,280 Denominator: Denominator for basic net income per share - weighted average common shares outstanding 71,744 73,898 72,015 74,048 Dilutive common equivalent shares: Weighted average restricted stock units and performance-based restricted stock units 1,305 1,001 1,256 928 Denominator for diluted net income per share - weighted average shares outstanding 73,049 74,899 73,271 74,976 Net income per share: Basic net income per share $ 0.73 $ 0.65 $ 0.87 $ 0.60 Diluted net income per share $ 0.72 $ 0.64 $ 0.86 $ 0.59 The following table sets forth restricted stock units excluded from the calculation of diluted net income per share, since their inclusion would be anti-dilutive (in thousands): Three Months Ended Nine Months Ended December 31, December 31, 2022 2021 2022 2021 Restricted stock units 207 26 1,580 1,166 Basic net income per share is calculated by dividing net income by the weighted average number of shares outstanding during the period. Unvested restricted shares, although legally issued and outstanding, are not considered outstanding for purposes of calculating basic earnings per share. Diluted net income per share is calculated by dividing net income by the weighted average number of shares outstanding plus the dilutive effect, if any, of outstanding stock options, restricted shares and restricted stock units using the treasury stock method. The calculation of the dilutive effect of outstanding equity awards under the treasury stock method includes consideration of proceeds from the assumed exercise of stock options and unrecognized compensation expense as additional proceeds.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Generally, the Company's effective tax rate differs from the U.S. federal statutory income tax rate primarily due to foreign withholding taxes and U.S. taxation on foreign earnings, partially offset by research and development tax credits, foreign tax credits, stock related compensation and the foreign derived intangible income deduction. The Company's effective tax rates were 13.1% and 14.2% for the three months ended December 31, 2022 and 2021, respectively. The effective tax rate for the three months ended December 31, 2022 differed from the effective tax rate for the three months ended December 31, 2021 primarily due to research and development tax credits, foreign tax credits, the foreign derived intangible income deduction, and U.S. taxation of foreign earnings. The Company's effective tax rates were 9.5% and 15.5% for the nine months ended December 31, 2022 and 2021, respectively. The effective tax rate for the nine months ended December 31, 2022 differed from the effective tax rate for the nine months ended December 31, 2021 primarily due to research and development tax credits, foreign tax credits, the foreign derived intangible income deduction, and U.S. taxation of foreign earnings, as well as a discrete benefit from stock compensation during the nine months ended December 31, 2022.

SEGMENT AND GEOGRAPHIC INFORMAT

SEGMENT AND GEOGRAPHIC INFORMATION	9 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
SEGMENT AND GEOGRAPHIC INFORMATION	SEGMENT AND GEOGRAPHIC INFORMATION The Company reports revenues and income under one reportable segment. The Company manages its business in the following geographic areas: United States, Europe, Asia and the rest of the world. The Company's policies mandate compliance with economic sanctions and the export controls. Total revenue by geography is as follows (in thousands): Three Months Ended Nine Months Ended December 31, December 31, 2022 2021 2022 2021 United States $ 181,206 $ 162,794 $ 461,672 $ 399,349 Europe 35,926 48,620 105,013 121,712 Asia 15,422 14,519 44,608 46,835 Rest of the world 36,990 36,261 95,144 96,488 $ 269,544 $ 262,194 $ 706,437 $ 664,384

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	BASIS OF PRESENTATION The accompanying unaudited interim consolidated financial statements have been prepared by NetScout Systems, Inc. (NetScout or the Company). Certain information and footnote disclosures normally included in financial statements prepared under United States generally accepted accounting principles (GAAP) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). In the opinion of management, the unaudited interim consolidated financial statements include all adjustments, consisting of normal recurring adjustments, necessary for a fair statement of the Company's financial position and stockholders' equity, results of operations and cash flows. The year-end consolidated balance sheet data and statement of stockholders' equity were derived from the Company's audited financial statements, but do not include all disclosures required by GAAP. The results reported in these unaudited interim consolidated financial statements are not necessarily indicative of results that may be expected for the entire year. All significant intercompany accounts and transactions are eliminated in consolidation. These unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements, including the notes thereto, included in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2022 filed with the Securities and Exchange Commission on May 19, 2022.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires companies to recognize and measure contract assets and contract liabilities acquired in a business combination as if the acquiring company originated the related revenue contracts. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. ASU 2021-08 is effective for the Company beginning April 1, 2023. Amendments within the standard are required to be applied on a prospective basis from the date of adoption. The adoption is not expected to have a material impact on the Company's financial position, results of operations, and disclosures. We will apply the provisions of ASU 2021-08 after adoption to future acquisitions, if any. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments provide optional guidance for a limited time to ease the potential burden in accounting for reference rate reform. The new guidance provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain
Revenue Recognition Policy	Revenue Recognition Policy The Company exercises judgment and uses estimates in connection with determining the amounts of product and service revenues to be recognized in each accounting period. The Company derives revenues primarily from the sale of network management tools and cybersecurity solutions for service provider and enterprise customers, which include hardware, software, and service offerings. The Company's product sales consist of software only offerings and offerings which include hardware appliances with embedded software that are essential to providing customers the intended functionality of the solutions. The Company accounts for revenue once a legally enforceable contract with a customer has been approved by the parties and the related promises to transfer products or services have been identified. A contract is defined by the Company as an arrangement with commercial substance identifying payment terms, each party’s rights and obligations regarding the products or services to be transferred and the amount the Company deems probable of collection. Customer contracts may include promises to transfer multiple products and services to a customer. Determining whether the products and services are considered distinct performance obligations that should be accounted for separately or as one combined performance obligation may require significant judgment. Revenue is recognized when control of the products or services are transferred to the Company's customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for products and services. Product revenue is typically recognized upon fulfillment, provided a legally enforceable contract exists, control has passed to the customer, and in the case of software products, when the customer has the rights and ability to access the software, and collection of the related receivable is probable. If any significant obligations to the customer remain post-delivery, typically involving obligations relating to installation and acceptance by the customer, revenue recognition is deferred until such obligations have been fulfilled. The Company's service offerings include installation, integration, extended warranty and maintenance services, post-contract customer support, stand-ready software-as-a-service (SAAS) and other professional services including consulting and training. The Company generally provides software and/or hardware support as part of product sales. Revenue related to the initial bundled software and hardware support is recognized ratably over the support period. In addition, customers can elect to purchase extended support agreements for periods after the initial software/hardware warranty expiration. Support services generally include rights to unspecified upgrades (when and if available), telephone and internet-based support, updates, bug fixes and hardware repair and replacement. Consulting services are recognized upon delivery or completion of performance depending on the terms of the underlying contract. Reimbursements of out-of-pocket expenditures incurred in connection with providing consulting services are included in services revenue, with the offsetting expense recorded in cost of service revenue. Training services include on-site and classroom training. Training revenues are recognized upon delivery of the training. Generally, the Company's contracts are accounted for individually. However, when contracts are closely interrelated and dependent on each other, it may be necessary to account for two or more contracts as one to reflect the substance of the group of contracts. Bundled arrangements are concurrent customer purchases of a combination of the Company's product and service offerings that may be delivered at various points in time. The Company allocates the transaction price among the performance obligations in an amount that depicts the relative standalone selling prices (SSP) of each obligation. Judgment is required to determine the SSP for each distinct performance obligation. The Company uses a range of amounts to estimate SSP when it sells each of the products and services separately based primarily on the performance obligation's historical pricing. The Company also considers its overall pricing objectives and practices across different sales channels and geographies, and market conditions. Generally, the Company has established SSP for a majority of its service performance obligations based on historical standalone sales. In certain instances, the Company has established SSP for services based upon an estimate of profitability and the underlying cost to fulfill those services. SSP has primarily been established for product performance obligations as the average or median selling price the performance obligation was recently sold for, whether sold alone or sold as part of a bundle transaction. The Company reviews sales of the product performance obligations on a quarterly basis and

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Summary of Allowance for Credit Losses	The following table summarizes the activity in the allowance for credit losses (in thousands): Balance at March 31, 2022 $ 1,649 Provision for allowance for credit losses 783 Recoveries and other adjustments 865 Write off charged against the allowance for credit losses (2,295) Balance at December 31, 2022 $ 1,002

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	9 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Summary of Share-Based Compensation Expense	The following is a summary of share-based compensation expense including restricted stock units and performance-based restricted stock units granted pursuant to the Company's Amended 2007 Plan, the 2019 Plan, the 2019 Amended Plan, and the 2019 Second Amended Plan, and employee stock purchases made under the Company's 2011 Amended and Restated Employee Stock Purchase Plan (ESPP), based on estimated fair values within the applicable cost and expense lines identified below (in thousands): Three Months Ended Nine Months Ended December 31, December 31, 2022 2021 2022 2021 Cost of product revenue $ 262 $ 214 $ 869 $ 809 Cost of service revenue 1,781 1,302 5,606 4,822 Research and development 4,174 3,297 13,185 12,290 Sales and marketing 5,445 4,727 17,238 15,383 General and administrative 3,481 3,141 10,327 10,077 $ 15,143 $ 12,681 $ 47,225 $ 43,381

CASH, CASH EQUIVALENTS AND MA_2

CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES (Tables)	9 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Summary of Marketable Securities	The following is a summary of marketable securities held by NetScout at December 31, 2022, classified as short-term and long-term (in thousands): Amortized Unrealized Fair Type of security: U.S. government and municipal obligations $ 19,211 $ (1) $ 19,210 Commercial paper 33,487 — 33,487 Corporate bonds 1,130 (1) 1,129 Certificates of deposit 3,436 — 3,436 Total short-term marketable securities 57,264 (2) 57,262 U.S. government and municipal obligations 6,919 (13) 6,906 Total long-term marketable securities 6,919 (13) 6,906 Total marketable securities $ 64,183 $ (15) $ 64,168 The following is a summary of marketable securities held by NetScout at March 31, 2022, classified as short-term and long-term (in thousands): Amortized Unrealized Fair Type of security: U.S. government and municipal obligations $ 40,895 $ (32) $ 40,863 Commercial paper 23,353 — 23,353 Corporate bonds 823 (2) 821 Certificates of deposit 2,000 — 2,000 Total short-term marketable securities 67,071 (34) 67,037 Total long-term marketable securities — — — Total marketable securities $ 67,071 $ (34) $ 67,037
Summary of Contractual Maturities of Marketable Securities	Contractual maturities of the Company's marketable securities held at December 31, 2022 and March 31, 2022 were as follows (in thousands): December 31, March 31, Available-for-sale securities: Due in 1 year or less $ 57,262 $ 67,037 Due after 1 year through 5 years 6,906 — $ 64,168 $ 67,037

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities	The following tables present the Company's financial assets and liabilities measured on a recurring basis using the fair value hierarchy at December 31, 2022 and March 31, 2022 (in thousands): Fair Value Measurements at December 31, 2022 Level 1 Level 2 Level 3 Total ASSETS: Cash and cash equivalents $ 306,572 $ 45,472 $ — $ 352,044 U.S. government and municipal obligations 23,499 2,617 — 26,116 Commercial paper — 33,487 — 33,487 Corporate bonds 1,129 — — 1,129 Certificate of deposits — 3,436 — 3,436 Derivative financial instruments — 40 — 40 $ 331,200 $ 85,052 $ — $ 416,252 LIABILITIES: Derivative financial instruments $ — $ (188) $ — $ (188) $ — $ (188) $ — $ (188) Fair Value Measurements at March 31, 2022 Level 1 Level 2 Level 3 Total ASSETS: Cash and cash equivalents $ 617,734 $ 18,427 $ — $ 636,161 U.S. government and municipal obligations 40,863 — — 40,863 Commercial paper — 23,353 — 23,353 Corporate bonds 821 — — 821 Certificate of deposits — 2,000 — 2,000 Derivative financial instruments — 20 — 20 $ 659,418 $ 43,800 $ — $ 703,218 LIABILITIES: Derivative financial instruments $ — $ (78) $ — $ (78) $ — $ (78) $ — $ (78)

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Dec. 31, 2022
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consist of the following (in thousands): December 31, March 31, Raw materials $ 12,231 $ 14,779 Work in process 213 695 Finished goods 5,154 5,761 Deferred costs 1,023 6,985 $ 18,621 $ 28,220

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	9 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill	The following table summarizes the changes in the carrying amount of goodwill for the nine months ended December 31, 2022 as follows (in thousands): Balance at March 31, 2022 $ 1,723,156 Foreign currency translation impact 2,573 Balance at December 31, 2022 $ 1,725,729
Schedule of Intangible Assets	Intangible assets include the following amortizable intangible assets at December 31, 2022 (in thousands): Estimated Useful Life in Years Cost Accumulated Net Developed technology 3 - 13 years $ 249,470 $ (230,700) $ 18,770 Customer relationships 8 - 18 years 766,635 (420,678) 345,957 Distributor relationships and technology licenses 1 - 6 years 11,521 (9,803) 1,718 Definite-lived trademark and trade name 2 - 9 years 57,627 (42,026) 15,601 Core technology 10 years 7,192 (7,192) — Non-compete agreements 3 years 292 (292) — Capitalized software 3 years 3,317 (3,317) — Other 1 - 20 years 1,208 (997) 211 $ 1,097,262 $ (715,005) $ 382,257 Intangible assets include the following amortizable intangible assets at March 31, 2022 (in thousands): Estimated Useful Life in Years Cost Accumulated Net Developed technology 3 - 13 years $ 250,247 $ (224,426) $ 25,821 Customer relationships 8 - 18 years 769,404 (384,347) 385,057 Distributor relationships and technology licenses 1 - 6 years 11,408 (8,896) 2,512 Definite-lived trademark and trade name 2 - 9 years 57,748 (37,944) 19,804 Core technology 10 years 7,192 (7,192) — Non-compete agreements 3 years 292 (292) — Capitalized software 3 years 3,317 (3,317) — Other 1 - 20 years 1,208 (983) 225 $ 1,100,816 $ (667,397) $ 433,419
Finite-lived Intangible Assets Amortization Expense	The following table provides a summary of amortization expense for the three and nine months ended December 31, 2022 and 2021 , respectively (in thousands): Three Months Ended Nine Months Ended December 31, December 31, 2022 2021 2022 2021 Amortization of intangible assets included as: Cost of product revenue $ 2,627 $ 3,643 $ 7,908 $ 10,959 Operating expense 13,823 14,924 41,515 44,910 $ 16,450 $ 18,567 $ 49,423 $ 55,869
Schedule of Expected Future Amortization Expense	The following is the expected future amortization expense at December 31, 2022 for the fiscal years ending March 31 (in thousands): 2023 (remaining three months) $ 16,515 2024 57,878 2025 50,713 2026 46,357 2027 43,480 Thereafter 167,314 $ 382,257

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	9 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Notional Amounts and Fair Values of Derivative Instruments on Consolidated Balance Sheet	The notional amounts and fair values of derivative instruments in the consolidated balance sheets at December 31, 2022 and March 31, 2022 were as follows (in thousands): Notional Amounts (a) Prepaid Expenses and Other Current Assets Accrued Other December 31, March 31, December 31, March 31, December 31, March 31, Derivatives Designated as Hedging Instruments: Forward contracts $ 11,955 $ 5,578 $ 40 $ 20 $ 188 $ 78 $ 40 $ 20 $ 188 $ 78 (a) Notional amounts represent the gross contract/notional amount of the derivatives outstanding.
Summary of Effect of Foreign Exchange Forward Contracts on OCI and Results of Operations	The following table provides the effect that foreign exchange forward contracts designated as hedging instruments had on other comprehensive income (OCI) and results of operations for the three months ended December 31, 2022 and 2021 (in thousands): Gain Recognized in Gain (Loss) Reclassified from December 31, December 31, Location December 31, December 31, Forward contracts $ 611 $ 30 Research and development $ 30 $ (2) Sales and marketing 97 40 $ 611 $ 30 $ 127 $ 38 (a) The amount represents the change in fair value of derivative contracts due to changes in spot rates. (b) The amount represents reclassification from other comprehensive income to earnings that occurs when the hedged item affects earnings. The following table provides the effect that foreign exchange forward contracts designated as hedging instruments had on other comprehensive income (OCI) and results of operations for the nine months ended December 31, 2022 and 2021 (in thousands): Gain (Loss) Recognized in Gain (Loss) Reclassified from December 31, December 31, Location December 31, December 31, Forward contracts $ (582) $ 158 Research and development $ 49 $ (17) Sales and marketing 452 (11) $ (582) $ 158 $ 501 $ (28) (a) The amount represents the change in fair value of derivative contracts due to changes in spot rates. (b) The amount represents reclassification from other comprehensive income to earnings that occurs when the hedged item affects earnings. The following table provides the effect that foreign exchange forward contracts not designated as hedging instruments had on the Company's results of operations for the nine months ended December 31, 2022 and 2021 (in thousands): Loss Recognized in Income Location December 31, December 31, Forward contracts General and administrative $ — $ (248) $ — $ (248) (a) The amount represents the change in fair value of derivative contracts due to changes in spot rates.

RESTRUCTURING CHARGES (Tables)

RESTRUCTURING CHARGES (Tables)	9 Months Ended
	Dec. 31, 2022
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Liability	The following table provides a summary of the activity related to the restructuring plan and the restructuring liability (in thousands): Q1FY23 Plan Balance at March 31, 2022 $ — Restructuring charges to operations 1,861 Cash payments (1,593) Other adjustments (128) Balance at December 31, 2022 $ 140

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Components of Operating Lease Cost and Supplemental Cash Flow Information	The components of operating lease cost for the three and nine months ended December 31, 2022 and 2021, respectively, were as follows (in thousands): Three Months Ended Nine Months Ended December 31, December 31, 2022 2021 2022 2021 Lease cost under long-term operating leases $ 3,078 $ 3,187 $ 9,285 $ 9,659 Lease cost under short-term operating leases 870 1,247 2,849 2,990 Variable lease cost under short-term and long-term operating leases 821 925 2,677 2,508 Total operating lease cost $ 4,769 $ 5,359 $ 14,811 $ 15,157 The table below presents supplemental cash flow information related to leases during the nine months ended December 31, 2022 and 2021 (in thousands): December 31, 2022 December 31, 2021 Right-of-use assets obtained in exchange for new operating lease liabilities $ 4,215 $ 2,461 At December 31, 2022 and March 31, 2022, the weighted average remaining lease term in years and weighted average discount rate were as follows: December 31, 2022 March 31, 2022 Weighted average remaining lease term in years - operating leases 6.39 6.98 Weighted average discount rate - operating leases 4.1 % 4.0 %
Future Minimum Payments Under Non-Cancellable Leases	Future minimum payments under non-cancellable leases at December 31, 2022 are as follows (in thousands): Year ending March 31: 2023 (remaining three months) $ 2,431 2024 12,682 2025 12,018 2026 10,362 2027 8,180 Thereafter 22,901 Total lease payments $ 68,574 Less imputed interest (8,213) Present value of lease liabilities $ 60,361

PENSION BENEFIT PLANS (Tables)

PENSION BENEFIT PLANS (Tables)	9 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Schedule of Net Periodic Pension Costs of Noncontributory Defined Benefit Pension Plans	The following sets forth the components of the Company's net periodic pension cost of the noncontributory defined benefit pension plans for the three and nine months ended December 31, 2022 and 2021, respectively, (in thousands): Three Months Ended Nine Months Ended December 31, December 31, 2022 2021 2022 2021 Service cost $ 42 $ 41 $ 128 $ 129 Interest cost 85 83 261 263 Net periodic pension cost $ 127 $ 124 $ 389 $ 392

NET INCOME PER SHARE (Tables)

NET INCOME PER SHARE (Tables)	9 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Schedule of Calculations of the Basic and Diluted Net Income Per Share and Potential Common Shares	Calculations of the basic and diluted net income per share and potential common shares are as follows (in thousands, except for per share data): Three Months Ended Nine Months Ended December 31, December 31, 2022 2021 2022 2021 Numerator: Net income $ 52,618 $ 47,725 $ 62,869 $ 44,280 Denominator: Denominator for basic net income per share - weighted average common shares outstanding 71,744 73,898 72,015 74,048 Dilutive common equivalent shares: Weighted average restricted stock units and performance-based restricted stock units 1,305 1,001 1,256 928 Denominator for diluted net income per share - weighted average shares outstanding 73,049 74,899 73,271 74,976 Net income per share: Basic net income per share $ 0.73 $ 0.65 $ 0.87 $ 0.60 Diluted net income per share $ 0.72 $ 0.64 $ 0.86 $ 0.59
Summary of Antidilutive Securities Excluded from Computation of Diluted Net Income Per Share	The following table sets forth restricted stock units excluded from the calculation of diluted net income per share, since their inclusion would be anti-dilutive (in thousands): Three Months Ended Nine Months Ended December 31, December 31, 2022 2021 2022 2021 Restricted stock units 207 26 1,580 1,166

SEGMENT AND GEOGRAPHIC INFORM_2

SEGMENT AND GEOGRAPHIC INFORMATION (Tables)	9 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Summary of Total Revenue by Geography	Total revenue by geography is as follows (in thousands): Three Months Ended Nine Months Ended December 31, December 31, 2022 2021 2022 2021 United States $ 181,206 $ 162,794 $ 461,672 $ 399,349 Europe 35,926 48,620 105,013 121,712 Asia 15,422 14,519 44,608 46,835 Rest of the world 36,990 36,261 95,144 96,488 $ 269,544 $ 262,194 $ 706,437 $ 664,384

BASIS OF PRESENTATION - Narrati

BASIS OF PRESENTATION - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Mar. 31, 2022
Summary Of Significant Accounting Policies [Line Items]
Deferred employer payroll taxes		$ 4.5
Senior Secured Revolving Credit Facility | Line of Credit
Summary Of Significant Accounting Policies [Line Items]
Current borrowing capacity	$ 600

REVENUE - Narrative (Details)

REVENUE - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Revenue recognized			$ 277.1
Deferred revenue	$ 444.9		444.9
Unrecognized accounts receivable and deferred revenue	3.7		3.7		$ 9.4
Capitalized contract cost	9.3		9.3		8.8
Amortization of capitalized costs to obtain contracts	1.8	$ 1.6	5.2	$ 4.7
Prepaid Expenses and Other Current Assets
Disaggregation of Revenue [Line Items]
Capitalized contract cost	4.7		4.7		4.6
Other Assets
Disaggregation of Revenue [Line Items]
Capitalized contract cost	$ 4.6		$ 4.6		$ 4.2
Minimum
Disaggregation of Revenue [Line Items]
Payment terms			30 days
Maximum
Disaggregation of Revenue [Line Items]
Payment terms			90 days

REVENUE - Performance Obligatio

REVENUE - Performance Obligations (Details) $ in Millions	Dec. 31, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, amount	$ 317.4
Revenue, remaining performance obligation, percentage	71%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, amount	$ 127.5
Revenue, remaining performance obligation, percentage	29%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period

REVENUE - Allowance for Credit

REVENUE - Allowance for Credit Losses (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2022 USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, beginning balance	$ 1,649
Provision for allowance for credit losses	783
Recoveries and other adjustments	865
Write off charged against the allowance for credit losses	(2,295)
Allowance for credit losses, ending balance	$ 1,002

SHARE-BASED COMPENSATION - Narr

SHARE-BASED COMPENSATION - Narrative (Details) - $ / shares			9 Months Ended	12 Months Ended
	Aug. 24, 2022	Sep. 10, 2020	Dec. 31, 2022	Mar. 31, 2022
ESPP
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Number of new shares (in shares)	2,000,000
Percentage of common stock price for employees			85%
Shares purchased by employees under ESPP (in shares)			206,029
Share price (in dollars per share)			$ 31.74
Performance Based Restricted Stock Units
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Award performance measurement period				3 years
2019 Amended Plan
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Number of new shares (in shares)	7,000,000	4,700,000
Number of shares reserved for issuance (in shares)	8,764,811
Number of new shares reserved for issuance (in shares)	7,000,000
Number of shares available for grant (in shares)	1,764,811		6,235,096
2019 Amended Plan | Minimum
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based awards generally vesting years		1 year

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 15,143	$ 12,681	$ 47,225	$ 43,381
Cost of product revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	262	214	869	809
Cost of service revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	1,781	1,302	5,606	4,822
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	4,174	3,297	13,185	12,290
Sales and marketing
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	5,445	4,727	17,238	15,383
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 3,481	$ 3,141	$ 10,327	$ 10,077

CASH, CASH EQUIVALENTS AND MA_3

CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES - Summary of Marketable Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 64,183	$ 67,071
Unrealized Losses	(15)	(34)
Fair Value	64,168	67,037
Short-term Marketable Securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	57,264	67,071
Unrealized Losses	(2)	(34)
Fair Value	57,262	67,037
Long-term Marketable Securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	6,919	0
Unrealized Losses	(13)	0
Fair Value	6,906	0
U.S. government and municipal obligations
Debt Securities, Available-for-sale [Line Items]
Fair Value	26,116	40,863
U.S. government and municipal obligations | Short-term Marketable Securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	19,211	40,895
Unrealized Losses	(1)	(32)
Fair Value	19,210	40,863
U.S. government and municipal obligations | Long-term Marketable Securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	6,919
Unrealized Losses	(13)
Fair Value	6,906
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Fair Value	33,487	23,353
Commercial paper | Short-term Marketable Securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	33,487	23,353
Unrealized Losses	0	0
Fair Value	33,487	23,353
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Fair Value	1,129	821
Corporate bonds | Short-term Marketable Securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,130	823
Unrealized Losses	(1)	(2)
Fair Value	1,129	821
Certificates of deposit
Debt Securities, Available-for-sale [Line Items]
Fair Value	3,436	2,000
Certificates of deposit | Short-term Marketable Securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	3,436	2,000
Unrealized Losses	0	0
Fair Value	$ 3,436	$ 2,000

CASH, CASH EQUIVALENTS AND MA_4

CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES - Summary of Contractual Maturities of Marketable Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Available-for-sale securities:
Due in 1 year or less	$ 57,262	$ 67,037
Due after 1 year through 5 years	6,906	0
Available-for-sale Securities	$ 64,168	$ 67,037

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
ASSETS:
Cash and cash equivalents	$ 352,044	$ 636,161
Available-for-sale securities	64,168	67,037
Derivative financial instruments	40	20
Total assets	416,252	703,218
LIABILITIES:
Derivative financial instruments	(188)	(78)
Total liabilities	(188)	(78)
U.S. government and municipal obligations
ASSETS:
Available-for-sale securities	26,116	40,863
Commercial paper
ASSETS:
Available-for-sale securities	33,487	23,353
Corporate bonds
ASSETS:
Available-for-sale securities	1,129	821
Certificate of deposits
ASSETS:
Available-for-sale securities	3,436	2,000
Level 1
ASSETS:
Cash and cash equivalents	306,572	617,734
Derivative financial instruments	0	0
Total assets	331,200	659,418
LIABILITIES:
Derivative financial instruments	0	0
Total liabilities	0	0
Level 1 | U.S. government and municipal obligations
ASSETS:
Available-for-sale securities	23,499	40,863
Level 1 | Commercial paper
ASSETS:
Available-for-sale securities	0	0
Level 1 | Corporate bonds
ASSETS:
Available-for-sale securities	1,129	821
Level 1 | Certificate of deposits
ASSETS:
Available-for-sale securities	0	0
Level 2
ASSETS:
Cash and cash equivalents	45,472	18,427
Derivative financial instruments	40	20
Total assets	85,052	43,800
LIABILITIES:
Derivative financial instruments	(188)	(78)
Total liabilities	(188)	(78)
Level 2 | U.S. government and municipal obligations
ASSETS:
Available-for-sale securities	2,617	0
Level 2 | Commercial paper
ASSETS:
Available-for-sale securities	33,487	23,353
Level 2 | Corporate bonds
ASSETS:
Available-for-sale securities	0	0
Level 2 | Certificate of deposits
ASSETS:
Available-for-sale securities	3,436	2,000
Level 3
ASSETS:
Cash and cash equivalents	0	0
Derivative financial instruments	0	0
Total assets	0	0
LIABILITIES:
Derivative financial instruments	0	0
Total liabilities	0	0
Level 3 | U.S. government and municipal obligations
ASSETS:
Available-for-sale securities	0	0
Level 3 | Commercial paper
ASSETS:
Available-for-sale securities	0	0
Level 3 | Corporate bonds
ASSETS:
Available-for-sale securities	0	0
Level 3 | Certificate of deposits
ASSETS:
Available-for-sale securities	$ 0	$ 0

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 12,231	$ 14,779
Work in process	213	695
Finished goods	5,154	5,761
Deferred costs	1,023	6,985
Total inventories	$ 18,621	$ 28,220

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2022 USD ($) reporting_unit	Mar. 31, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Number of reporting units | reporting_unit	1
Goodwill	$ 1,725,729	$ 1,723,156
Carrying value of intangible assets	$ 382,257	$ 433,419

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Schedule of Changes in Carrying Amount of Goodwill (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2022 USD ($)
Goodwill [Roll Forward]
Balance at March 31, 2022	$ 1,723,156
Foreign currency translation impact	2,573
Balance at December 31, 2022	$ 1,725,729

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Dec. 31, 2022	Mar. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Cost	$ 1,097,262	$ 1,100,816
Accumulated Amortization	(715,005)	(667,397)
Net	382,257	433,419
Developed technology
Finite-Lived Intangible Assets [Line Items]
Cost	249,470	250,247
Accumulated Amortization	(230,700)	(224,426)
Net	$ 18,770	$ 25,821
Developed technology | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life in Years	3 years	3 years
Developed technology | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life in Years	13 years	13 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Cost	$ 766,635	$ 769,404
Accumulated Amortization	(420,678)	(384,347)
Net	$ 345,957	$ 385,057
Customer relationships | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life in Years	8 years	8 years
Customer relationships | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life in Years	18 years	18 years
Distributor relationships and technology licenses
Finite-Lived Intangible Assets [Line Items]
Cost	$ 11,521	$ 11,408
Accumulated Amortization	(9,803)	(8,896)
Net	$ 1,718	$ 2,512
Distributor relationships and technology licenses | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life in Years	1 year	1 year
Distributor relationships and technology licenses | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life in Years	6 years	6 years
Definite-lived trademark and trade name
Finite-Lived Intangible Assets [Line Items]
Cost	$ 57,627	$ 57,748
Accumulated Amortization	(42,026)	(37,944)
Net	$ 15,601	$ 19,804
Definite-lived trademark and trade name | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life in Years	2 years	2 years
Definite-lived trademark and trade name | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life in Years	9 years	9 years
Core technology
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life in Years	10 years	10 years
Cost	$ 7,192	$ 7,192
Accumulated Amortization	(7,192)	(7,192)
Net	$ 0	$ 0
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life in Years	3 years	3 years
Cost	$ 292	$ 292
Accumulated Amortization	(292)	(292)
Net	$ 0	$ 0
Capitalized software
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life in Years	3 years	3 years
Cost	$ 3,317	$ 3,317
Accumulated Amortization	(3,317)	(3,317)
Net	0	0
Other
Finite-Lived Intangible Assets [Line Items]
Cost	1,208	1,208
Accumulated Amortization	(997)	(983)
Net	$ 211	$ 225
Other | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life in Years	1 year	1 year
Other | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life in Years	20 years	20 years

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS - Schedule of Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Amortization of acquired intangible assets	$ 16,450	$ 18,567	$ 49,423	$ 55,869
Cost of product revenue
Finite-Lived Intangible Assets [Line Items]
Amortization of acquired intangible assets	2,627	3,643	7,908	10,959
Operating expense
Finite-Lived Intangible Assets [Line Items]
Amortization of acquired intangible assets	$ 13,823	$ 14,924	$ 41,515	$ 44,910

GOODWILL AND INTANGIBLE ASSET_6

GOODWILL AND INTANGIBLE ASSETS - Schedule of Expected Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2023 (remaining three months)	$ 16,515
2024	57,878
2025	50,713
2026	46,357
2027	43,480
Thereafter	167,314
Net	$ 382,257	$ 433,419

DERIVATIVE INSTRUMENTS AND HE_3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Narrative (Details)	9 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Managing period of hedging forecasted cash flows for operating expenses denominated in foreign currencies	12 months
Contract maturity period	12 months

DERIVATIVE INSTRUMENTS AND HE_4

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Summary of Notional Amounts and Fair Values of Derivative Instruments on Consolidated Balance Sheet (Details) - Forward contracts - USD ($) $ in Thousands	Dec. 31, 2022	Mar. 31, 2022
Derivatives, Fair Value [Line Items]
Prepaid Expenses and Other Current Assets	$ 40	$ 20
Accrued Other	188	78
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional Amounts	11,955	5,578
Prepaid Expenses and Other Current Assets	40	20
Accrued Other	$ 188	$ 78

DERIVATIVE INSTRUMENTS AND HE_5

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Summary of Effect of Foreign Exchange Forward Contracts on Other Comprehensive Income and Results of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Loss Recognized in Income			$ 0	$ (248)
Forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in OCI on Derivative	$ 611	$ 30	(582)	158
Gain (Loss) Reclassified from Accumulated OCI into Income	127	38	501	(28)
Loss Recognized in Income			0	(248)
Forward contracts | Research and development
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in OCI on Derivative	611	30	(582)	158
Gain (Loss) Reclassified from Accumulated OCI into Income	30	(2)	49	(17)
Forward contracts | Sales and marketing
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from Accumulated OCI into Income	$ 97	$ 40	$ 452	$ (11)

LONG-TERM DEBT- Narrative (Deta

LONG-TERM DEBT- Narrative (Details)			3 Months Ended	9 Months Ended		12 Months Ended
	May 09, 2022 USD ($)	Jul. 27, 2021 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Mar. 31, 2022 USD ($)
Debt Instrument [Line Items]
Repaid borrowings	$ 150,000,000					$ 350,000,000
Loss on extinguishment of debt				$ 0	$ 596,000
Senior Secured Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Debt term		5 years
Credit facility		$ 800,000,000
Loss on extinguishment of debt						$ 600,000
Amount outstanding under credit facility			$ 200,000,000	$ 200,000,000
Commitment fee percentage			0.15%
Adjusted consolidated EBITDA percentage		125%
Maximum leverage ratio		4	4	4
Debt default, acceleration clause, required consent percentage		50%
Unamortized debt issuance costs			$ 4,000,000	$ 4,000,000
Senior Secured Revolving Credit Facility | Line of Credit | Prepaid Expenses and Other Current Assets
Debt Instrument [Line Items]
Unamortized debt issuance costs			1,100,000	1,100,000
Senior Secured Revolving Credit Facility | Line of Credit | Other Assets
Debt Instrument [Line Items]
Unamortized debt issuance costs			$ 2,900,000	$ 2,900,000
Senior Secured Revolving Credit Facility | Line of Credit | Maximum
Debt Instrument [Line Items]
Leverage ratio			3.50	3.50
Commitment fee percentage			0.30%
Senior Secured Revolving Credit Facility | Line of Credit | Maximum | Foreign Subsidiaries
Debt Instrument [Line Items]
Voting stock pledge limit for any foreign subsidiary		65%
Senior Secured Revolving Credit Facility | Line of Credit | Minimum
Debt Instrument [Line Items]
Leverage ratio			1.50	1.50
Commitment fee percentage			0.15%
Senior Secured Revolving Credit Facility | Line of Credit | Federal Funds Effective Rate
Debt Instrument [Line Items]
Interest rate in excess of effective rate		0.50%
Senior Secured Revolving Credit Facility | Line of Credit | LIBOR
Debt Instrument [Line Items]
Interest rate in excess of effective rate		1%
Senior Secured Revolving Credit Facility | Line of Credit | LIBOR | LIBOR Loans
Debt Instrument [Line Items]
Interest rate in excess of effective rate				1%
Senior Secured Revolving Credit Facility | Line of Credit | LIBOR | LIBOR Loans | Maximum
Debt Instrument [Line Items]
Interest rate in excess of effective rate				2%
Senior Secured Revolving Credit Facility | Line of Credit | LIBOR | LIBOR Loans | Minimum
Debt Instrument [Line Items]
Interest rate in excess of effective rate				1%
Senior Secured Revolving Credit Facility | Line of Credit | Base Rate | Base Rate Loans
Debt Instrument [Line Items]
Interest rate in excess of effective rate				0%
Senior Secured Revolving Credit Facility | Line of Credit | Base Rate | Base Rate Loans | Maximum
Debt Instrument [Line Items]
Interest rate in excess of effective rate				1%
Senior Secured Revolving Credit Facility | Line of Credit | Base Rate | Base Rate Loans | Minimum
Debt Instrument [Line Items]
Interest rate in excess of effective rate				0%
Letter of Credit Sub-facility | Line of Credit
Debt Instrument [Line Items]
Credit facility		$ 75,000,000
Senior Secured Revolving Credit Facility Leverage Ratio Terms Two | Line of Credit | Maximum
Debt Instrument [Line Items]
Leverage ratio			2.75	2.75
Senior Secured Revolving Credit Facility Leverage Ratio Terms Two | Line of Credit | Minimum
Debt Instrument [Line Items]
Leverage ratio			1.50	1.50

RESTRUCTURING CHARGES - Narrati

RESTRUCTURING CHARGES - Narrative (Details) $ in Thousands	3 Months Ended			9 Months Ended
	Dec. 31, 2022 USD ($)	Jun. 30, 2022 employee	Dec. 31, 2021 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 89		$ 0	$ 1,803	$ 0
One-time Termination Benefits
Restructuring Cost and Reserve [Line Items]
Number of employees terminated | employee		18
Restructuring charges				$ 1,900

RESTRUCTURING CHARGES - Schedul

RESTRUCTURING CHARGES - Schedule of Restructuring Liability (Details) - Q1FY23 Plan - One-time Termination Benefits $ in Thousands	9 Months Ended
	Dec. 31, 2022 USD ($)
Restructuring Reserve [Roll Forward]
Balance at March 31, 2022	$ 0
Restructuring charges to operations	1,861
Cash payments	(1,593)
Other adjustments	(128)
Balance at December 31, 2022	$ 140

LEASES - Narrative (Details)

LEASES - Narrative (Details)	Dec. 31, 2022
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Remaining lease terms	1 year
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Remaining lease terms	8 years

LEASES - Operating Lease Cost (

LEASES - Operating Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Lease cost under long-term operating leases	$ 3,078	$ 3,187	$ 9,285	$ 9,659
Lease cost under short-term operating leases	870	1,247	2,849	2,990
Variable lease cost under short-term and long-term operating leases	821	925	2,677	2,508
Total operating lease cost	$ 4,769	$ 5,359	$ 14,811	$ 15,157

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2022
Leases [Abstract]
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 4,215	$ 2,461
Weighted average remaining lease term in years - operating leases	6 years 4 months 20 days		6 years 11 months 23 days
Weighted average discount rate - operating leases	4.10%		4%

LEASES - Future Minimum Payment

LEASES - Future Minimum Payments Under Non-Cancellable Leases (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Leases [Abstract]
2023 (remaining three months)	$ 2,431
2024	12,682
2025	12,018
2026	10,362
2027	8,180
Thereafter	22,901
Total lease payments	68,574
Less imputed interest	(8,213)
Present value of lease liabilities	$ 60,361

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details)	1 Months Ended				9 Months Ended
	Jul. 31, 2020 USD ($)	Sep. 30, 2018 USD ($)	Oct. 31, 2017 USD ($) patent	Mar. 31, 2016 subsidiary patent	Dec. 31, 2022 USD ($)
Commitments and Contingencies Disclosure [Line Items]
Number of subsidiary entities | subsidiary				2
Number of patents allegedly infringed | patent			3	5
Damages sought		$ 2,800,000
Pre-suit Damages
Commitments and Contingencies Disclosure [Line Items]
Damages sought	$ 3,500,000		$ 3,500,000		$ 1,700,000
Post-suit Damages
Commitments and Contingencies Disclosure [Line Items]
Damages sought	$ 2,250,000		$ 2,250,000		$ 1,100,000

PENSION BENEFIT PLANS - Narrati

PENSION BENEFIT PLANS - Narrative (Details) $ in Millions	9 Months Ended
	Dec. 31, 2022 USD ($) employee
Defined Benefit Plan Disclosure [Line Items]
Contributions to defined benefit pension plans	$ 0.3
Expected cash contribution requirements for defined benefit pension plans, less than	$ 1
United States
Defined Benefit Plan Disclosure [Line Items]
Number of employees participating in noncontributory defined benefit pension plans | employee	0

PENSION BENEFIT PLANS - Net Per

PENSION BENEFIT PLANS - Net Periodic Pension Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Service cost	$ 42	$ 41	$ 128	$ 129
Interest cost	85	83	261	263
Net periodic pension cost	$ 127	$ 124	$ 389	$ 392

TREASURY STOCK- Narrative (Deta

TREASURY STOCK- Narrative (Details) - USD ($)		1 Months Ended	9 Months Ended		62 Months Ended
	May 10, 2022	Nov. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	May 09, 2022	May 03, 2022	Oct. 24, 2017	Oct. 23, 2017
Equity, Class of Treasury Stock [Line Items]
Stock authorized to repurchase under stock repurchase program (in shares)									20,000,000
Value of shares repurchased		$ 47,900,000	$ 150,039,000	$ 35,652,000
Restricted Stock Units
Equity, Class of Treasury Stock [Line Items]
Shares paid for tax withholding (in shares)			555,651	531,725
Cost related to tax withholding			$ 19,200,000	$ 15,200,000
Share Repurchase Program, October 2017
Equity, Class of Treasury Stock [Line Items]
Stock authorized to repurchase under stock repurchase program (in shares)								25,000,000
Shares repurchased during the period (in shares)			4,549,329	1,330,678	23,790,847
Shares repurchased			$ 150,000,000	$ 35,700,000	$ 660,400,000
Stock remaining to be purchased (in shares)			1,209,153		1,209,153
Share Repurchase Program, May 2022
Equity, Class of Treasury Stock [Line Items]
Stock authorized to repurchase under stock repurchase program (in shares)							25,000,000
ASR Program
Equity, Class of Treasury Stock [Line Items]
Shares repurchased during the period (in shares)	3,255,814	1,293,515	4,549,329
Repurchase of aggregate amount						$ 150,000,000
Percentage of aggregate amount of shares expected to be repurchased	70%
Shares repurchased during the period, average cost per share (in dollars per share)			$ 32.97
ASR Program | Mizuho Markets Americas LLC
Equity, Class of Treasury Stock [Line Items]
Shares repurchased during the period (in shares)	1,627,907	651,213
Value of shares repurchased	$ 75,000,000
ASR Program | Wells Fargo Bank, National Association
Equity, Class of Treasury Stock [Line Items]
Shares repurchased during the period (in shares)	1,627,907	642,302
Value of shares repurchased	$ 75,000,000

NET INCOME PER SHARE - Schedule

NET INCOME PER SHARE - Schedule of Calculations of EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Net income	$ 52,618	$ 47,725	$ 62,869	$ 44,280
Denominator:
Denominator for basic net income per share - weighted average common shares outstanding (in shares)	71,744	73,898	72,015	74,048
Dilutive common equivalent shares:
Weighted average restricted stock units and performance-based restricted stock units (in shares)	1,305	1,001	1,256	928
Denominator for diluted net income per share - weighted average shares outstanding (in shares)	73,049	74,899	73,271	74,976
Net income per share:
Basic net income per share (in dollars per share)	$ 0.73	$ 0.65	$ 0.87	$ 0.60
Diluted net income per share (in dollars per share)	$ 0.72	$ 0.64	$ 0.86	$ 0.59

NET INCOME PER SHARE - Antidilu

NET INCOME PER SHARE - Antidilutive Securities Excluded from Computation (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	207	26	1,580	1,166

NET INCOME PER SHARE - Narrativ

NET INCOME PER SHARE - Narrative (Details) - shares		1 Months Ended	9 Months Ended
	May 10, 2022	Nov. 30, 2022	Dec. 31, 2022
ASR Program
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Repurchase of treasury stock (in shares)	3,255,814	1,293,515	4,549,329

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details)	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Effective tax rate	13.10%	14.20%	9.50%	15.50%

SEGMENT AND GEOGRAPHIC INFORM_3

SEGMENT AND GEOGRAPHIC INFORMATION (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($)
Segment Reporting [Abstract]
Number of segments | segment			1
Segment Reporting Information [Line Items]
Total revenue	$ 269,544	$ 262,194	$ 706,437	$ 664,384
United States
Segment Reporting Information [Line Items]
Total revenue	181,206	162,794	461,672	399,349
Europe
Segment Reporting Information [Line Items]
Total revenue	35,926	48,620	105,013	121,712
Asia
Segment Reporting Information [Line Items]
Total revenue	15,422	14,519	44,608	46,835
Rest of the world
Segment Reporting Information [Line Items]
Total revenue	$ 36,990	$ 36,261	$ 95,144	$ 96,488