New Relic (NEWR) 10-Q 8 Feb 22 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Dec. 31, 2021	Jan. 31, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	001-36766
Entity Registrant Name	New Relic, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-2017431
Entity Address, Address Line One	188 Spear Street
Entity Address, Address Line Two	Suite 1000
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94105
City Area Code	650
Local Phone Number	777-7600
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	NEWR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		66,174,127
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001448056
Current Fiscal Year End Date	--03-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Current assets:
Cash and cash equivalents	$ 245,827	$ 240,821
Short-term investments	533,952	575,254
Accounts receivable, net of allowances of $2,701 and $2,633, respectively	177,080	174,027
Prepaid expenses and other current assets	24,935	21,944
Deferred contract acquisition costs	27,027	36,210
Total current assets	1,008,821	1,048,256
Property and equipment, net	73,432	91,308
Restricted cash	5,775	5,642
Goodwill	163,677	144,253
Intangible assets, net	17,928	12,986
Deferred contract acquisition costs, non-current	14,789	32,579
Lease right-of-use assets	51,718	57,425
Other assets, non-current	5,338	6,170
Total assets	1,341,478	1,398,619
Current liabilities:
Accounts payable	25,874	24,171
Accrued compensation and benefits	37,061	37,196
Other current liabilities	24,253	19,174
Deferred revenue	307,890	373,594
Lease liabilities	9,594	7,886
Total current liabilities	404,672	462,021
Convertible senior notes, net	497,072	449,380
Lease liabilities, non-current	52,328	59,924
Deferred revenue, non-current	150	1,674
Other liabilities, non-current	27,344	8,256
Total liabilities	981,566	981,255
Commitments and contingencies (Note 10)
Redeemable non-controlling interest	22,564	3,389
Stockholders’ equity:
Common stock, $0.001 par value; 100,000 shares authorized at December 31, 2021 and March 31, 2021; 66,396 shares and 64,019 shares issued at December 31, 2021 and March 31, 2021; and 66,136 shares and 63,759 shares outstanding at December 31, 2021 and March 31, 2021	66	64
Treasury stock - at cost (260 shares)	(263)	(263)
Additional paid-in capital	1,068,297	1,001,309
Accumulated other comprehensive loss	(2,957)	(19)
Accumulated deficit	(727,795)	(587,116)
Total stockholders’ equity	337,348	413,975
Total liabilities, redeemable non-controlling interest and stockholders’ equity	$ 1,341,478	$ 1,398,619

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 2,701	$ 2,633
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	66,396,000	64,019,000
Common stock, shares outstanding (in shares)	66,136,000	63,759,000
Treasury stock, shares (in shares)	260,000	260,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Revenue	$ 203,591	$ 166,340	$ 579,769	$ 494,979
Cost of revenue	68,793	45,968	192,319	124,439
Gross profit	134,798	120,372	387,450	370,540
Operating expenses:
Research and development	53,362	45,773	153,460	131,245
Sales and marketing	97,723	92,392	293,603	266,906
General and administrative	35,614	30,249	113,193	89,481
Total operating expenses	186,699	168,414	560,256	487,632
Loss from operations	(51,901)	(48,042)	(172,806)	(117,092)
Other income (expense):
Interest income	575	1,734	2,237	6,735
Interest expense	(1,228)	(6,229)	(3,682)	(18,549)
Other expense	(268)	(811)	(647)	(1,810)
Loss before income taxes	(52,822)	(53,348)	(174,898)	(130,716)
Income tax provision	763	564	816	1,276
Net loss	(53,585)	(53,912)	(175,714)	(131,992)
Net loss and adjustment attributable to redeemable non-controlling interest	(9,121)	286	(19,175)	1,059
Net loss attributable to New Relic	$ (62,706)	$ (53,626)	$ (194,889)	$ (130,933)
Net loss attributable to New Relic per share, basic (in dollars per share)	$ (0.96)	$ (0.88)	$ (3.04)	$ (2.16)
Net loss attributable to New Relic per share, diluted (in dollars per share)	$ (0.96)	$ (0.88)	$ (3.04)	$ (2.16)
Weighted-average shares used to compute net loss per share, basic (in shares)	64,983	61,209	64,203	60,562
Weighted-average shares used to compute net loss per share, diluted (in shares)	64,983	61,209	64,203	60,562

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net loss attributable to New Relic	$ (62,706)	$ (53,626)	$ (194,889)	$ (130,933)
Other comprehensive loss:
Unrealized loss on available-for-sale securities	(1,749)	(1,467)	(2,938)	(3,937)
Comprehensive loss attributable to New Relic	$ (64,455)	$ (55,093)	$ (197,827)	$ (134,870)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-In Capital	Additional Paid-In CapitalCumulative Effect, Period of Adoption, Adjustment	Treasury Stock	Accumulated Other Comprehensive Loss	Accumulated Deficit	Accumulated DeficitCumulative Effect, Period of Adoption, Adjustment
Beginning balance (in shares) at Mar. 31, 2020			60,098			260
Beginning balance at Mar. 31, 2020	$ 390,639		$ 60	$ 780,479		$ (263)	$ 4,869	$ (394,506)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)			332
Issuance of common stock upon exercise of stock options	3,632			3,632
Issuance of common stock for vested restricted stock units (in shares)			1,123
Issuance of common stock for vested restricted stock units	0		$ 1	(1)
Issuance of common stock related to employee stock purchase plan (in shares)			137
Issuance of common stock related to employee stock purchase plan	6,494			6,494
Issuance of common stock related to acquisition of business (in shares)			1,621
Issuance of common stock related to acquisition of business	62,367		$ 2	62,365
Stock-based compensation expense	103,701			103,701
Other comprehensive loss, net	(3,937)						(3,937)
Net loss attributable to New Relic	(130,933)							(130,933)
Ending balance (in shares) at Dec. 31, 2020			63,311			260
Ending balance at Dec. 31, 2020	431,963		$ 63	956,670		$ (263)	932	(525,439)
Beginning balance (in shares) at Mar. 31, 2020			60,098			260
Beginning balance at Mar. 31, 2020	$ 390,639		$ 60	780,479		$ (263)	4,869	(394,506)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2020-06
Ending balance (in shares) at Mar. 31, 2021			64,019			260
Ending balance at Mar. 31, 2021	$ 413,975	$ (45,926)	$ 64	1,001,309	$ (100,136)	$ (263)	(19)	(587,116)	$ 54,210
Beginning balance (in shares) at Sep. 30, 2020			61,227			260
Beginning balance at Sep. 30, 2020	387,395		$ 61	857,011		$ (263)	2,399	(471,813)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)			45
Issuance of common stock upon exercise of stock options	982			982
Issuance of common stock for vested restricted stock units (in shares)			418
Issuance of common stock related to acquisition of business (in shares)			1,621
Issuance of common stock related to acquisition of business	62,367		$ 2	62,365
Stock-based compensation expense	36,312			36,312
Other comprehensive loss, net	(1,467)						(1,467)
Net loss attributable to New Relic	(53,626)							(53,626)
Ending balance (in shares) at Dec. 31, 2020			63,311			260
Ending balance at Dec. 31, 2020	431,963		$ 63	956,670		$ (263)	932	(525,439)
Beginning balance (in shares) at Mar. 31, 2021			64,019			260
Beginning balance at Mar. 31, 2021	$ 413,975	$ (45,926)	$ 64	1,001,309	$ (100,136)	$ (263)	(19)	(587,116)	$ 54,210
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)	727		727
Issuance of common stock upon exercise of stock options	$ 29,165		$ 1	29,164
Issuance of common stock for vested restricted stock units (in shares)			1,149
Issuance of common stock for vested restricted stock units	0		$ 1	(1)
Issuance of common stock related to employee stock purchase plan (in shares)			100
Issuance of common stock related to employee stock purchase plan	5,417			5,417
Issuance of common stock related to acquisition of business (in shares)			401
Issuance of common stock related to acquisition of business	13,487			13,487
Stock-based compensation expense	119,057			119,057
Other comprehensive loss, net	(2,938)						(2,938)
Net loss attributable to New Relic	(194,889)							(194,889)
Ending balance (in shares) at Dec. 31, 2021			66,396			260
Ending balance at Dec. 31, 2021	337,348		$ 66	1,068,297		$ (263)	(2,957)	(727,795)
Beginning balance (in shares) at Sep. 30, 2021			65,639			260
Beginning balance at Sep. 30, 2021	341,868		$ 65	1,008,363		$ (263)	(1,208)	(665,089)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)			412
Issuance of common stock upon exercise of stock options	21,551		$ 1	21,550
Issuance of common stock for vested restricted stock units (in shares)			345
Stock-based compensation expense	38,384			38,384
Other comprehensive loss, net	(1,749)						(1,749)
Net loss attributable to New Relic	(62,706)							(62,706)
Ending balance (in shares) at Dec. 31, 2021			66,396			260
Ending balance at Dec. 31, 2021	$ 337,348		$ 66	$ 1,068,297		$ (263)	$ (2,957)	$ (727,795)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net loss attributable to New Relic	$ (62,706)	$ (53,626)	$ (194,889)	$ (130,933)
Net loss and adjustment attributable to redeemable non-controlling interest (Note 3)	9,121	(286)	19,175	(1,059)
Net loss	(53,585)	(53,912)	(175,714)	(131,992)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization			66,787	66,315
Stock-based compensation expense	37,791	36,469	117,549	103,044
Amortization of debt discount and issuance costs			1,766	16,632
Other			(204)	1,812
Changes in operating assets and liabilities, net of acquisition of business:
Accounts receivable, net			(3,053)	3,586
Prepaid expenses and other assets			(2,990)	(999)
Deferred contract acquisition costs			(1,668)	(33,093)
Lease right-of-use assets			6,743	(1,338)
Accounts payable			2,922	10,015
Accrued compensation and benefits and other liabilities			14,650	18,141
Lease liabilities			(5,888)	2,158
Deferred revenue			(67,228)	(12,896)
Net cash provided by (used in) operating activities			(46,328)	41,385
Cash flows from investing activities:
Purchases of property and equipment			(3,177)	(15,799)
Cash paid for acquisition, net of cash acquired			(7,192)	(41,536)
Purchases of short-term investments			(175,668)	(293,844)
Proceeds from sale and maturity of short-term investments			212,328	228,050
Capitalized software development costs			(9,406)	(9,739)
Net cash provided by (used in) investing activities			16,885	(132,868)
Cash flows from financing activities:
Proceeds from employee stock purchase plan			5,417	6,494
Proceeds from exercise of employee stock options			29,165	3,632
Net cash provided by financing activities			34,582	10,126
Net increase (decrease) in cash, cash equivalents and restricted cash			5,139	(81,357)
Cash, cash equivalents and restricted cash at beginning of period			246,463	298,164
Cash, cash equivalents and restricted cash at end of period	251,602	216,807	251,602	216,807
Reconciliation of cash, cash equivalents and restricted cash to condensed consolidated balance sheets:
Cash and cash equivalents	245,827	211,145	245,827	211,145
Restricted cash	5,775	5,662	5,775	5,662
Total cash, cash equivalents and restricted cash	$ 251,602	$ 216,807	251,602	216,807
Supplemental disclosure of cash flow information:
Cash paid for interest and income taxes			4,448	3,772
Noncash investing and financing activities:
Property and equipment purchased but not yet paid			3	1,399
Issuance of common stock for the acquisition of business			13,487	62,365
Acquisition holdback			$ 7,250	$ 0

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	9 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Description of Business and Summary of Significant Accounting Policies	Description of Business and Summary of Significant Accounting Policies New Relic, Inc. (the “Company” or “New Relic”) was incorporated in Delaware on February 20, 2008, when it converted from a Delaware limited liability company called New Relic Software, LLC, which was formed in Delaware in September 2007. The Company delivers a software platform for customers to land all their telemetry data in one place and derive actionable insights from that data in a unified front-end application. The Company’s platform, New Relic One, provides users with a consistent and comprehensive view of their digital environment allowing them to observe and operate all the components of their digital infrastructure. Basis of Presentation —These unaudited condensed consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2021, as filed with the SEC on May 14, 2021 (the “Annual Report”). In the opinion of management, the unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, comprehensive loss, stockholders’ equity and cash flows for the interim period, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year ending March 31, 2022. The condensed consolidated balance sheet as of March 31, 2021 included herein was derived from the audited financial statements as of that date. Use of Estimates —The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of income and expenses during the reporting period. Significant items subject to such estimates and assumptions include the fair value of share-based awards, fair value of purchased intangible assets and goodwill, variable consideration included in the transaction price for our customer contracts, useful lives of purchased intangible assets, unrecognized tax benefits, incremental borrowing rate used for operating lease liabilities, and the capitalization and estimated useful life of the Company’s software development costs. These estimates are based on information available as of the date of the consolidated financial statements; therefore, actual results could differ from management’s estimates. COVID-19 —The COVID-19 pandemic has resulted in a global slowdown of economic activity that is expected to continue and which is likely to decrease demand for a broad variety of goods and services, while also disrupting sales channels and marketing activities for an unknown period of time. The Company’s revenue and deferred revenue have been negatively impacted by the slowdown in activity associated with the COVID-19 pandemic, but at this point, the extent of any continuing impact to the Company’s financial condition or results of operations is uncertain, particularly as the COVID-19 pandemic continues to persist for an extended period of time, and as of the date of issuance of these financial statements, management is not aware of any specific event or circumstance that would require an update to estimates and judgments or revising the carrying value of its assets or liabilities. These estimates may change as new events occur and additional information is obtained, and will be recognized in the condensed consolidated financial statements as soon as they become known. Actual results could differ from those estimates and any such differences may be material to the financial statements. Concentration of Risk —There was no customer that represented more than 10% of the Company’s accounts receivable balance as of December 31, 2021 or March 31, 2021. There was no customer that individually exceeded 10% of the Company’s revenue during the three or nine months ended December 31, 2021 or 2020. Revenue Recognition —The Company generates revenue from subscription-based arrangements and usage-based arrangements that allow customers to access its products and/or platform. The Company determines revenue recognition through the following steps: • identification of the contract, or contracts with a customer; • identification of the performance obligations in the contract; • determination of the transaction price; • allocation of the transaction price to the performance obligations in the contract; and • recognition of revenue, when, or as, the Company satisfies a performance obligation. Revenue from subscription-based arrangements is recognized on a ratable basis over the contractual subscription period of the arrangement beginning when or as control of the promised goods or services is transferred to the customer. Beginning in the second quarter of fiscal 2021, the Company started offering usage-based pricing to its customers. Customers have the option to be charged upon their incurred usage in arrears (“Pay as You Go”), or they may commit to a minimum spend over their contracted period (“Annual Pool of Funds”). Revenue related to Pay as You Go contracts are recognized based on the customers’ actual usage. Revenue related to Annual Pool of Funds contracts are recognized on a ratable basis over the contract period including an estimate of the usage above the minimum commitment. The estimated usage-based revenues are constrained to the amount the Company expects to be entitled to receive in exchange for providing access to its platform. Recently Issued Accounting Pronouncements Not Yet Adopted In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40). The new ASU addresses an issuer’s accounting for certain modifications or exchanges of freestanding equity-classified written call options. This guidance is effective for the Company’s fiscal year beginning April 1, 2022. The Company is currently evaluating the impact of adopting this guidance. In October 2021, the FASB issued ASU No. 2021-08, Business Combinations - Accounting for Contract Liabilities from Contracts with Customers (Topic 805), which requires an acquirer in a business combination to recognize and measure contract assets and contract liabilities from acquired contracts using the revenue recognition guidance under ASC 606 as if the entity had originated the contracts. The guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company is currently evaluating the impact of adopting this guidance. Recently Adopted Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, Accounting for Convertible Instruments and Contract on an Entity’s Own Equity (Subtopic 815-40) (“ASU 2020-06”). ASU 2020-06 simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. The Company adopted ASU 2020-06 effective April 1, 2021, using the modified retrospective basis, which resulted in a $54.2 million decrease to the opening balance of accumulated deficit, a $100.1 million decrease to the opening balance of additional paid-in capital, and a $45.9 million increase to the opening balance of the Notes, net on the consolidated balance sheet.

Business Combinations

Business Combinations	9 Months Ended
	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
Business Combinations	Business Combinations During the nine months ended December 31, 2021 , the Company completed one acquisition, which is described below. The Company did not complete any acquisitions during the three months ended December 31, 2021 . CodeStream Inc. On June 8, 2021, the Company acquired all of the equity interests in CodeStream Inc. (“CodeStream”), a company that provides an integrated developer collaboration platform. The aggregate purchase price of $28.6 million consisted of approximately $15.1 million in cash (of which t he Company held back approximately $7.3 million from the aggregate purchase price for 18 months after the transaction closing date, and which has been accrued as a long-term liability ) and 202,561 shares of the Company’s common stock with an aggregate fair value of approximately $13.5 million. The fair value of the consideration transferred was determined based on a $66.58 per share price of the Company’s common stock on the closing date of the acquisition. The total purchase price was allocated to the developed technology acquired with an estimated useful life o f three years, net assets assumed, and a deferred tax liability related to the developed technology. The excess purchase price was recorded as goodwill. The acquisition was accounted for as a business combination in accordance with ASC 805. The estimated fair value of developed technology acquired of $10.3 million was determined through the use of a third-party valuation firm using cost approach methodology. The business combination did not have a material impact on the condensed consolidated financial statements and therefore historical and proforma disclosures have not been presented. The acquisition also included a holdback arrangement with certain employees of CodeStream, totaling approximately 199,492 shares of the Company’s common stock, contingent upon their continued employment with the Company. The fair value of these awards, which are subject to the recipients’ continued service, was $13.3 million and was excluded from the aggregate purchase price. These awards will be recognized as stock-based compensation expense over the vesting period, which is 42 months. Pixie Labs Inc. On December 22, 2020, the Company acquired all of the equity interests in Pixie Labs Inc., a company that provides a next-generation machine intelligence observability solution for developers using Kubernetes. The aggregate purchase price of $107.9 million consisted of approximately $45.6 million in cash (of which $15.0 million is being held in escrow for 12 months after the transaction closing date) and 884,269 shares of the Company’s common stock with an aggregate fair value of approximately $62.4 million. The fair value of the consideration transferred was determined based on a $70.53 per share price of the Company’s common stock. Of the total purchase price, $4.8 million was allocated to acquired technology with an estimate useful life of three years, net assets assumed, and a deferred tax liability related to the developed technology. The excess $99.1 million of the purchase price over the fair value of the intangible assets acquired was recorded as goodwill. The acquisition has been accounted for as a business combination under the acquisition method. The business combination did not have a material impact on the condensed consolidated financial statements and therefore historical and proforma disclosures have not been presented.

Joint Venture

Joint Venture	9 Months Ended
	Dec. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Joint Venture	Joint Venture On July 13, 2018, the Company entered into an agreement with Japan Cloud Computing L.P. and M30 LLC (collectively, the “Investors”) to engage in the investment, organization, management and operation of New Relic K.K., a Japanese subsidiary of the Company that is focused on the sale of the Company’s products and services in Japan. On August 21, 2018, the investors initially contributed approximately $3.6 million (396 million Japanese Yen) in exchange for 40% of the outstanding common stock of New Relic K.K. On August 21, 2019, the Company and Investors additionally contributed approximately $1.5 million (156 million Japanese Yen) and approximately $1.0 million (104 million Japanese Yen), respectively, to subscribe to additional shares. As of December 31, 2021, the Company owned approximately 60% of the outstanding common stock in New Relic K.K. All of the common stock held by the Investors may be callable by the Company or puttable by the Investors upon certain contingent events. Should the call or put option be exercised, the redemption value would be determined based on a prescribed formula derived from the discrete revenues of New Relic K.K. and the Company and may be settled, at the Company’s discretion, with Company stock or cash. As a result of the put right available to the redeemable non-controlling interest holders in the future, the redeemable non-controlling interest in New Relic K.K. is classified outside of permanent equity in the Company’s consolidated balance sheet as of December 31, 2021, and the balance is reported at the greater of the initial carrying amount adjusted for the redeemable non-controlling interest’s share of earnings or losses, or its estimated redemption value. Accordingly, the Company adjusted the redeemable non-controlling interest by $19.5 million at December 31, 2021. The following table summarizes the activity in the redeemable non-controlling interest for the periods indicated below: Nine Months Ended December 31, 2021 2020 Balance, beginning of period $ 3,389 $ 1,669 Net loss attributable to redeemable non-controlling interest (275) (1,059) Adjustment to redeemable non-controlling interest 19,450 — Balance, end of period $ 22,564 $ 610

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following tables present information about the Company’s financial assets measured at fair value on a recurring basis as of December 31, 2021 and March 31, 2021 based on the three-tier fair value hierarchy (in thousands): Fair Value Measurements as of December 31, 2021 Level 1 Level 2 Level 3 Total Cash and cash equivalents: Money market funds $ 139,891 $ — $ — $ 139,891 Short-term investments: Certificates of deposit — 93,720 — 93,720 Commercial paper — 32,049 — 32,049 Corporate notes and bonds — 88,864 — 88,864 U.S. treasury securities 319,319 — — 319,319 Restricted cash: Money market funds 5,775 — — 5,775 Total $ 464,985 $ 214,633 $ — $ 679,618 Included in cash and cash equivalents $ 139,891 Included in short-term investments $ 533,952 Included in restricted cash $ 5,775 Fair Value Measurements as of March 31, 2021 Level 1 Level 2 Level 3 Total Cash and cash equivalents: Money market funds $ 101,626 $ — $ — $ 101,626 Short-term investments: Certificates of deposit — 48,099 — 48,099 Commercial paper — 11,681 — 11,681 Corporate notes and bonds — 39,873 — 39,873 U.S. treasury securities 475,601 — — 475,601 Restricted cash: Money market funds 5,642 — — 5,642 Total $ 582,869 $ 99,653 $ — $ 682,522 Included in cash and cash equivalents $ 101,626 Included in short-term investments $ 575,254 Included in restricted cash $ 5,642 There were no transfers between fair value measurement levels during the nine months ended December 31, 2021 and 2020. The Company invests in certificates of deposit, commercial paper, corporate debt securities, U.S. treasury securities, and U.S. agency securities, which are classified as available-for-sale securities. The following table presents the Company’s available-for-sale securities as of December 31, 2021 (in thousands): Available-for-sale Investments as of December 31, 2021 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Short-term investments: Certificates of deposit $ 93,800 $ 3 $ (83) $ 93,720 Commercial paper 32,067 2 (20) 32,049 Corporate notes and bonds 89,381 14 (531) 88,864 U.S. treasury securities 319,954 279 (914) 319,319 Total available-for-sale investments $ 535,202 $ 298 $ (1,548) $ 533,952 The following table presents the Company’s available-for-sale securities as of March 31, 2021 (in thousands): Available-for-sale Investments as of March 31, 2021 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Short-term investments: Certificates of deposit $ 48,100 $ 18 $ (19) $ 48,099 Commercial paper 11,676 5 — 11,681 Corporate notes and bonds 39,620 261 (8) 39,873 U.S. treasury securities 474,171 1,575 (145) 475,601 Total available-for-sale investments $ 573,567 $ 1,859 $ (172) $ 575,254 As of December 31, 2021 and March 31, 2021, securities that were in an unrealized loss position for more than 12 months were not significant. In addition, the Company did not consider any available-for-sale securities to be impaired as of December 31, 2021 and March 31, 2021. The following table classifies the Company’s available-for-sale short-term investments by contractual maturities as of December 31, 2021 and March 31, 2021 (in thousands): December 31, 2021 March 31, 2021 Due within one year $ 357,579 $ 299,032 Due after one year and within three years 176,373 276,222 Total $ 533,952 $ 575,254 For certain other financial instruments, including accounts receivable, accounts payable and other current liabilities, the carrying amounts approximate their fair value due to the relatively short maturity of these balances. Convertible Senior Notes As of December 31, 2021, the fair value of the Notes was $541.4 million. The fair value was determined based on the quoted price of the Notes in an inactive market on the last trading day of the reporting period and has been classified as Level 2 in the fair value hierarchy.

Contract Acquisition Costs

Contract Acquisition Costs	9 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract Acquisition Costs	Contract Acquisition CostsThe Company capitalizes certain contract acquisition costs primarily consisting of commissions. The balances of deferred costs to obtain customer contracts were $41.8 million and $68.8 million as of December 31, 2021 and March 31, 2021, respectively. In the three months ended December 31, 2021 and 2020, amortization from amounts capitalized was $8.8 million and $9.7 million, respectively. In the nine months ended December 31, 2021 and 2020, amortization from amounts capitalized was $28.6 million and $28.2 million, respectively. In the three months ended December 31, 2021 and 2020, amounts expensed as incurred were $17.0 million and $4.4 million, respectively. In the nine months ended December 31, 2021 and 2020, amounts expensed as incurred were $46.5 million and $10.6 million, respectively. The Company had no impairment loss in relation to costs capitalized.Accounts Receivable, Deferred Revenue and Performance Obligations In a response to the COVID-19 pandemic, the Company performed additional procedures to evaluate the creditworthiness of its customers and assess collectability of accounts. Using a current expected credit loss model, the Company determined that, while there may be a delay in collections due to the downturn in economic activity, there has not been a material impact to the risk of credit loss on accounts receivables as of December 31, 2021. The Company receives payments from customers based upon billing cycles. As the Company performs under customer contracts, its right to consideration that is unconditional is considered to be accounts receivable. If the Company’s right to consideration for such performance is contingent upon a future event or satisfaction of additional performance obligations, the amount of revenues the Company has recognized in excess of the amount it has billed to the customer is considered to be a contract asset. Contract assets were $3.2 million and $1.3 million as of December 31, 2021 and December 31, 2020, respectively. The Company has no asset impairment charges related to contract assets for the periods presented. Deferred revenue represents consideration received from customers in excess of revenues recognized. The following table presents the changes to the Company’s deferred revenue (in thousands): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Deferred revenue, beginning of period $ 272,246 $ 275,598 $ 375,268 $ 316,327 Contributions from contract asset (1,022) 1,022 618 1,166 Billings 240,407 193,151 511,923 480,917 Revenue recognized (203,591) (166,340) (579,769) (494,979) Deferred revenue, end of period $ 308,040 $ 303,431 $ 308,040 $ 303,431 For the three and nine months ended December 31, 2021 and 2020, the majority of revenue recognized was from the deferred revenue balances at the beginning of each period. For the three and nine months ended December 31, 2021, the Company recognized $8.6 million and $9.7 million, respectively, in revenue from performance obligations satisfied in prior periods. The amounts recognized during the three and nine months ended December 31, 2020 from performance obligations satisfied in prior periods were immaterial. The aggregate unrecognized transaction price of remaining performance obligations as of December 31, 2021 was $609.9 million. The Company expects to recognize more than 97% of the balance as revenue in the 24 months following December 31, 2021 and the remainder thereafter. The aggregate balance of remaining performance obligations represents contracted revenue that has not yet been recognized and does not include contract amounts which are cancellable by the customer and amounts associated with optional renewal periods.

Property and Equipment

Property and Equipment	9 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment, net, consisted of the following (in thousands): December 31, 2021 March 31, 2021 Computers, software, and equipment $ 14,430 $ 14,270 Site operation equipment 75,267 87,479 Furniture and fixtures 5,772 5,758 Leasehold improvements 49,717 49,751 Capitalized software development costs 76,485 66,451 Total property and equipment 221,671 223,709 Less: accumulated depreciation and amortization (148,239) (132,401) Total property and equipment, net $ 73,432 $ 91,308 Depreciation and amortization expense related to property and equipment was $10.3 million and $11.6 million for the three months ended December 31, 2021 and 2020, respectively, and $31.9 million and $33.4 million for the nine months ended December 31, 2021 and 2020, respectively.

0.5% Convertible Senior Notes a

0.5% Convertible Senior Notes and Capped Call	9 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
0.5% Convertible Senior Notes and Capped Call	0.5% Convertible Senior Notes and Capped Call In May 2018, the Company issued $500.25 million in aggregate principal amount of Notes in a private offering, including $65.25 million in aggregate principal amount of Notes pursuant to the exercise in full of the initial purchasers’ option to purchase additional Notes. The Notes are the Company’s senior unsecured obligations and bear interest at a fixed rate of 0.5% per annum, payable semi-annually in arrears on May 1 and November 1 of each year, commencing on November 1, 2018. The Notes will mature on May 1, 2023, unless earlier converted or repurchased. Each $1,000 principal amount of the Notes will initially be convertible into 9.0244 shares of the Company’s common stock (the “Conversion Option”), which is equivalent to an initial conversion price of approximately $110.81 per share. The conversion rate is subject to adjustment under certain circumstances in accordance with the terms of the indenture governing the Notes. In addition, following certain corporate events that occur prior to the maturity date, the Company will increase the conversion rate, in certain circumstances, for a holder who elects to convert its Notes in connection with such a corporate event. During the three and nine months ended December 31, 2021, the conditions allowing holders of the Notes to convert have not been met. The Notes were therefore not convertible during the three and nine months ended December 31, 2021 and were classified as long-term debt for such period. The Notes are convertible at the option of the holders at any time prior to the close of business on the business day immediately preceding November 1, 2022, only under the following circumstances: (1) during any fiscal quarter commencing after the fiscal quarter ending on September 30, 2018 (and only during such fiscal quarter), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding fiscal quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five business day period after any five consecutive trading day period (the “measurement period”) in which the trading price (as defined in the indenture governing the Notes) per $1,000 principal amount of Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of our common stock and the conversion rate for the Notes on each such trading day; or (3) upon the occurrence of specified corporate events as set forth in the indenture governing the Notes. On or after November 1, 2022 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert all or any portion of their Notes, in multiples of $1,000 principal amount, at the option of the holder regardless of the foregoing circumstances. Upon conversion, the Company may satisfy its conversion obligation by paying and/or delivering, as the case may be, cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock, at the Company’s election, in the manner and subject to the terms and conditions provided in the indenture governing the Notes. In accounting for the transaction, the Notes were separated into liability and equity components. The carrying amount of the liability component was calculated by measuring the fair value of a similar debt instrument that does not have an associated conversion feature. The carrying amount of the equity component representing the Conversion Option was $102.5 million and was determined by deducting the fair value of the liability component from the proceeds received upon issuance of the Notes. The equity component was recorded in additional paid-in capital and is not remeasured as long as it continues to meet the conditions for equity classification. The excess of the principal amount of the Notes over the liability component (the “Debt Discount”) and the debt issuance costs were amortized to interest expense over the contractual term of the Notes at an effective interest rate of 5.74%. This rate is inclusive of the issuance costs. In accounting for the debt issuance costs of $11.6 million related to the Notes, the Company allocated the total amount incurred to the liability and equity components using the same proportions as the proceeds of the Notes. Issuance costs attributable to the liability component were $9.2 million and were amortized to interest expense using the effective interest method over the contractual term of the Notes. Issuance costs attributable to the equity component were $2.4 million and netted with the equity component in additional paid-in capital. In connection with the offering of the Notes, the Company entered into privately negotiated capped call transactions with certain financial institutions (the “Capped Calls”). The Capped Calls each have an initial strike price of approximately $110.81 per share, subject to certain adjustments, which correspond to the initial conversion price of the Notes. The Capped Calls have initial cap prices of $173.82 per share, subject to certain adjustments. The Capped Calls cover, subject to anti-dilution adjustments, approximately 4.5 million shares of our common stock. Conditions that cause adjustments to the initial strike price of the Capped Calls mirror conditions that result in corresponding adjustments for the Notes. The Capped Calls are generally intended to reduce potential dilution to holders of the Company’s common stock upon any conversion of the Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of converted Notes, as the case may be, with such reduction and/or offset, as the case may be, subject to a cap based on the cap price. For accounting purposes, the Capped Calls are separate transactions, and not part of the terms of the Notes. As these transactions meet certain accounting criteria, the Capped Calls are recorded in stockholders’ equity and are not accounted for as derivatives. The cost of $63.2 million incurred in connection with the Capped Calls was recorded as a reduction to additional paid-in capital. The net impact related to stockholders’ equity has been included in additional paid-in capital and was a result of the issuance costs of $2.4 million and the purchase of Capped Calls noted above in the amount of $63.2 million. In the first quarter of fiscal 2022, the Company adopted ASU No. 2020-06, Accounting for Convertible Instruments and Contract on an Entity’s Own Equity . As a result of the adoption, the Conversion Option of $102.5 million and issuance costs of $2.4 million previously attributable to the equity component are no longer be presented in equity. Similarly, the debt discount, which was equal to the carrying value of the embedded conversion feature upon issuance, is no longer amortized into income as interest expense over the life of the instrument. As a result, the Company recorded a $54.2 million decrease to the opening balance of accumulated deficit, a $100.1 million decrease to the opening balance of additional paid-in capital, and a $45.9 million increase to the opening balance of the Notes, net on the consolidated balance sheet. The net carrying amount of the liability component of the Notes was as follows (in thousands): December 31, 2021 March 31, 2021 Principal $ 500,250 $ 500,250 Unamortized debt discount — (46,378) Unamortized issuance costs (3,178) (4,492) Net carrying amount $ 497,072 $ 449,380 Interest expense related to the Notes was as follows (in thousands): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Amortization of debt discount $ — $ 5,162 $ — $ 15,287 Amortization of issuance costs 590 460 1,766 1,345 Contractual interest expense 624 625 1,872 1,876 Total interest expense $ 1,214 $ 6,247 $ 3,638 $ 18,508

Goodwill and Purchased Intangib

Goodwill and Purchased Intangibles Assets	9 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Purchased Intangibles Assets	Goodwill and Purchased Intangibles Assets The changes in the carrying amount of goodwill for the nine months ended December 31, 2021 consisted of the following (in thousands): Goodwill as of March 31, 2021 $ 144,253 Goodwill acquired 19,424 Goodwill as of December 31, 2021 $ 163,677 Purchased intangible assets subject to amortization as of December 31, 2021 consisted of the following (in thousands): Gross Carrying Accumulated Net Carrying Developed technology $ 27,500 $ (9,572) $ 17,928 Purchased intangible assets subject to amortization as of March 31, 2021 consisted of the following (in thousands): Gross Carrying Accumulated Net Carrying Developed technology $ 20,116 $ (7,130) $ 12,986 Amortization expense of purchased intangible assets was $2.0 million and $1.2 million for the three months ended December 31, 2021 and 2020, respectively, and $5.4 million and $3.8 million for the nine months ended December 31, 2021 and 2020, respectively, and is included in cost of revenue on the Company’s condensed consolidated statements of operations. Estimated future amortization expense as of December 31, 2021 was as follows (in thousands): Fiscal Years Ending March 31, Estimated Future Amortization Expense 2022 (remaining three months) $ 2,292 2023 9,000 2024 4,633 2025 2,003 $ 17,928

Leases

Leases	9 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Leases	Leases The Company leases office space under non-cancelable operating leases, which expire from 2022 to 2031. All of its office leases are classified as operating leases with lease expense recognized on a straight-line basis over the lease term. Lease right-of-use assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As these leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The Company considers information including, but not limited to, the lease term, the Company's credit rating and interest rates of similar debt instruments with comparable credit ratings. The lease right-of-use assets are also increased by any lease prepayments made and reduced by any lease incentives such as tenant improvement allowances. Options to extend the lease term are included in the lease term when it is reasonably certain that the Company will exercise the extension option. The Company’s operating leases typically include nonlease components such as common-area maintenance costs. The Company has elected to include nonlease components with lease payments for the purpose of calculating lease right-of-use assets and liabilities, to the extent that they are fixed. Nonlease components that are not fixed are expensed as incurred as variable lease payments. Leases with a term of one year or less are not recognized on the Company’s condensed consolidated balance sheet. The following table presents information about leases on the condensed consolidated balance sheet (in thousands): December 31, 2021 March 31, 2021 Assets Lease right-of-use-assets $ 51,718 $ 57,425 Liabilities Lease liabilities $ 9,594 $ 7,886 Lease liabilities, non-current 52,328 59,924 Total operating lease liabilities $ 61,922 $ 67,810 As of December 31, 2021, the weighted average remaining lease term was 5.5 years and the weighted average discount rate was 6.8%. The following table presents information about leases on its condensed consolidated statement of operations (in thousands): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Operating lease expense $ 3,418 $ 3,467 $ 10,372 $ 10,382 Short-term lease expense 164 230 467 654 Variable lease expense 736 607 2,099 1,931 The following table presents supplemental cash flow information about the Company’s leases (in thousands): Nine Months Ended December 31, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities $ 11,120 $ 11,632 Operating lease assets obtained in exchange for new lease liabilities (1) 1,414 8,536 (1) Includes the impact of new leases as well as remeasurements and modifications to existing leases. As of December 31, 2021, remaining maturities of lease liabilities were as follows (in thousands): Fiscal Years Ending March 31, Operating Leases 2022 (remaining three months) $ 2,285 2023 14,838 2024 13,624 2025 11,639 2026 11,841 2027 12,430 Thereafter 8,359 Total operating lease payments $ 75,016 Less imputed interest (13,094) Total operating lease liabilities $ 61,922

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase Commitments —As of December 31, 2021 and March 31, 2021, the Company had purchase commitments of $358.4 million and $494.6 million, respectively, primarily related to data center, cloud and hosting services. In September 2020, the Company entered into an agreement with a public cloud hosting provider, under which it now has a total five-year minimum commitment of $500.0 million, which is included in the commitment balance as of December 31, 2021 above. Other Contingencies —In the normal course of business, the Company may agree to indemnify third parties with whom it enters into contractual relationships, including customers, lessors, and parties to other transactions with the Company, with respect to certain matters. The Company has agreed, under certain conditions, to hold these third parties harmless against specified losses, such as those arising from a breach of representations or covenants, other third-party claims that the Company’s products when used for their intended purposes infringe the intellectual property rights of such other third parties, or other claims made against certain parties. To date, the Company has not incurred any costs as a result of such obligations and has not accrued any liabilities related to such obligations in the consolidated financial statements. In addition, the Company indemnifies its officers, directors, and certain key employees while they are serving in good faith in their respective capacities. The Company does not currently believe there is a reasonable possibility that a loss may have been incurred under these indemnification obligations. To date, there have been no claims under any such indemnification provisions.

Common Stock and Stockholders'

Common Stock and Stockholders' Equity	9 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Common Stock and Stockholders' Equity	Common Stock and Stockholders’ Equity Employee Stock Purchase Plan —The Company’s board of directors adopted, and the Company’s stockholders approved, the Company’s 2014 Employee Stock Purchase Plan (the “ESPP”), which became effective in December 2014. The ESPP initially reserved and authorized the issuance of up to 1,000,000 shares of common stock. The ESPP provides that the number of shares reserved and available for issuance under the ESPP automatically increases each April, beginning on April 1, 2015, by the lesser of 500,000 shares, 1% of the number of the Company’s common stock shares issued and outstanding on the immediately preceding March 31, or such lesser number of shares as determined by the Company’s board of directors. For the nine months ended December 31, 2021, 100,309 shares of common stock were purchased under the ESPP. For the nine months ended December 31, 2020, 136,978 shares of common stock were purchased under the ESPP. Stock-based compensation expense recognized related to the ESPP was $1.1 million and $1.7 million for the three months ended December 31, 2021 and 2020, respectively, and $3.0 million and $4.1 million for the nine months ended December 31, 2021 and 2020, respectively. As of December 31, 2021, 3,101,268 shares of common stock were available for issuance under the ESPP. 2008 Equity Incentive Plan —The Company’s board of directors adopted, and the Company’s stockholders approved, the 2008 Equity Incentive Plan, or the 2008 Plan, in February 2008. The 2008 Plan was terminated in connection with the Company’s initial public offering (“IPO”), and accordingly, no shares are available for future issuance under this plan. The 2008 Plan continues to govern outstanding awards granted thereunder. 2014 Equity Incentive Plan —The Company’s board of directors adopted, and the Company’s stockholders approved, the Company’s 2014 Equity Incentive Plan (the “2014 Plan”), which became effective in December 2014. The 2014 Plan serves as the successor to the Company’s 2008 Plan. The 2014 Plan initially reserved and authorized the issuance of 5,000,000 shares of the Company’s common stock. Additionally, shares not issued or subject to outstanding grants under the 2008 Plan upon its termination became available under the 2014 Plan, resulting in a total of 5,184,878 available shares under the 2014 Plan as of the effective date of the 2014 Plan. Pursuant to the terms of the 2014 Plan, any shares subject to outstanding stock options or other stock awards under the 2008 Plan that (i) expire or terminate for any reason prior to exercise or settlement, (ii) are forfeited because of the failure to meet a contingency or condition required to vest such shares or otherwise return to the Company or (iii) are reacquired, withheld (or not issued) to satisfy a tax withholding obligation in connection with an award or to satisfy the purchase price or exercise price of a stock award will become available for issuance pursuant to awards granted under the 2014 Plan. The 2014 Plan provides that the number of shares reserved and available for issuance under the plan automatically increases each April 1, beginning on April 1, 2015, by 5% of the outstanding number of shares of the Company’s common stock shares issued and outstanding on the immediately preceding March 31, or such lesser number of shares as determined by the Company’s board of directors. As of December 31, 2021, there were 13,973,787 shares available for issuance under the 2014 Plan. The following table summarizes the Company’s stock option, restricted stock unit (“RSU”), and performance unit (“PSU”) award activities for the nine months ended December 31, 2021 (in thousands, except exercise price, contractual term and fair value information): Options Outstanding RSUs Outstanding PSUs Outstanding Number of Shares Weighted- Average Exercise Price Weighted- Aggregate Intrinsic Value Number of Shares Weighted- Average Grant Date Fair Value Weighted- Aggregate Intrinsic Value Number of Shares Weighted- Average Grant Date Fair Value Weighted- Aggregate Intrinsic Value Outstanding - April 1, 2021 2,718 $ 50.55 6.2 $ 48,064 3,293 $ 67.76 2.8 $ 202,459 112 $ 99.05 2.0 $ 6,884 Granted — — 2,407 69.59 241 82.89 Exercised/vested (727) 40.14 32,092 (1,116) 66.51 (33) 99.05 Canceled/forfeited (187) 71.30 (967) 66.45 — Outstanding - December 31, 2021 1,804 $ 52.59 5.7 $ 103,913 3,617 $ 69.70 2.8 $ 399,108 320 $ 86.88 2.0 $ 35,235 PSUs granted under the 2014 Plan are contingent upon the achievement of pre-determined market and service conditions. The number of shares of common stock to be issued at vesting will range from 0% to 200% of the target number based on the Company’s total shareholder return (“TSR”) relative to the performance of peer companies for each measurement period, over a one-year, two-year cumulative, and three-year cumulative period. If these market conditions are not met but service conditions are met, the PSUs will not vest; however, any stock-based compensation expense recognized to date will not be reversed. The Company uses a Monte Carlo simulation model to determine the fair value of its PSUs and recognizes expense using the accelerated attribution method over the requisite service period. Stock-Based Compensation Expense —Stock-based compensation expense for employees and nonemployees was $37.8 million and $36.5 million for the three months ended December 31, 2021 and 2020, respectively, and $117.5 million and $103.0 million for the nine months ended December 31, 2021 and 2020, respectively. Cost of revenue, research and development, sales and marketing, and general and administrative expenses were as follows (in thousands): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Cost of revenue $ 1,382 $ 1,472 $ 3,757 $ 4,596 Research and development 13,117 10,960 36,228 30,214 Sales and marketing 12,537 15,115 37,619 42,960 General and administrative (1) 10,755 8,922 39,945 25,274 Total stock-based compensation expense (2) $ 37,791 $ 36,469 $ 117,549 $ 103,044 (1) Includes $9.6 million acceleration of share-based payment expense for the nine months ended December 31, 2021, for one of the Company’s executives due to his departure at the end of June 2021. There was no corresponding expense for the three-month period. (2) Includes $0.5 million expense for the nine months ended December 31, 2021, due to the restructuring activities commenced in the first quarter of fiscal 2022. There was no corresponding expense for the three-month period. Refer to Note 16. Restructuring for more information. As of December 31, 2021, unrecognized stock-based compensation cost related to outstanding unvested stock options was $12.3 million, which is expected to be recognized over a weighted-average period of approximately 2.0 years. As of December 31, 2021, unrecognized stock-based compensation cost related to outstanding unvested stock units was $274.4 million, which is expected to be recognized over a weighted-average period of approximately 2.7 years. As of December 31, 2021, unrecognized stock-based compensation cost related to PSUs was $14.0 million, which is expected to be recognized over a weighted-average period of approximately 2.0 years.

Accounts Receivable, Deferred R

Accounts Receivable, Deferred Revenue and Performance Obligations	9 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Accounts Receivable, Deferred Revenue and Performance Obligations	Contract Acquisition CostsThe Company capitalizes certain contract acquisition costs primarily consisting of commissions. The balances of deferred costs to obtain customer contracts were $41.8 million and $68.8 million as of December 31, 2021 and March 31, 2021, respectively. In the three months ended December 31, 2021 and 2020, amortization from amounts capitalized was $8.8 million and $9.7 million, respectively. In the nine months ended December 31, 2021 and 2020, amortization from amounts capitalized was $28.6 million and $28.2 million, respectively. In the three months ended December 31, 2021 and 2020, amounts expensed as incurred were $17.0 million and $4.4 million, respectively. In the nine months ended December 31, 2021 and 2020, amounts expensed as incurred were $46.5 million and $10.6 million, respectively. The Company had no impairment loss in relation to costs capitalized.Accounts Receivable, Deferred Revenue and Performance Obligations In a response to the COVID-19 pandemic, the Company performed additional procedures to evaluate the creditworthiness of its customers and assess collectability of accounts. Using a current expected credit loss model, the Company determined that, while there may be a delay in collections due to the downturn in economic activity, there has not been a material impact to the risk of credit loss on accounts receivables as of December 31, 2021. The Company receives payments from customers based upon billing cycles. As the Company performs under customer contracts, its right to consideration that is unconditional is considered to be accounts receivable. If the Company’s right to consideration for such performance is contingent upon a future event or satisfaction of additional performance obligations, the amount of revenues the Company has recognized in excess of the amount it has billed to the customer is considered to be a contract asset. Contract assets were $3.2 million and $1.3 million as of December 31, 2021 and December 31, 2020, respectively. The Company has no asset impairment charges related to contract assets for the periods presented. Deferred revenue represents consideration received from customers in excess of revenues recognized. The following table presents the changes to the Company’s deferred revenue (in thousands): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Deferred revenue, beginning of period $ 272,246 $ 275,598 $ 375,268 $ 316,327 Contributions from contract asset (1,022) 1,022 618 1,166 Billings 240,407 193,151 511,923 480,917 Revenue recognized (203,591) (166,340) (579,769) (494,979) Deferred revenue, end of period $ 308,040 $ 303,431 $ 308,040 $ 303,431 For the three and nine months ended December 31, 2021 and 2020, the majority of revenue recognized was from the deferred revenue balances at the beginning of each period. For the three and nine months ended December 31, 2021, the Company recognized $8.6 million and $9.7 million, respectively, in revenue from performance obligations satisfied in prior periods. The amounts recognized during the three and nine months ended December 31, 2020 from performance obligations satisfied in prior periods were immaterial. The aggregate unrecognized transaction price of remaining performance obligations as of December 31, 2021 was $609.9 million. The Company expects to recognize more than 97% of the balance as revenue in the 24 months following December 31, 2021 and the remainder thereafter. The aggregate balance of remaining performance obligations represents contracted revenue that has not yet been recognized and does not include contract amounts which are cancellable by the customer and amounts associated with optional renewal periods.

Income Taxes

Income Taxes	9 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company is subject to income tax in the United States as well as other tax jurisdictions in which it conducts business. Earnings from non-U.S. activities are subject to local country income tax. The Company does not provide for federal income taxes on the undistributed earnings of its foreign subsidiaries as such earnings are to be reinvested indefinitely. The Company recorded an income tax provision of $0.8 million and $0.6 million for the three months ended December 31, 2021 and 2020, respectively, and an income tax provision of $0.8 million and $1.3 million for the nine months ended December 31, 2021 and 2020, respectively, related to foreign income taxes, research tax credits, and the tax benefit from the acquisition of CodeStream related to the partial release of valuation allowance. Based on the available objective evidence during the three and nine months ended December 31, 2021, the Company believes it is more likely than not that the tax benefits of U.S. and Japan losses incurred during the three and nine months ended December 31, 2021 may not be realized. Accordingly, the Company did not record the tax benefits of U.S. and Japan losses incurred during the three and nine months ended December 31, 2021. The primary difference between the effective tax rate and the statutory tax rate relates to the valuation allowance on the U.S. and Japan losses, foreign tax rate differences, generation of research tax credits, and the tax benefit from the acquisition of CodeStream.

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share Basic net loss per share is calculated by dividing net loss by the weighted-average number of common shares outstanding during the period, less shares subject to repurchase, and excludes any dilutive effects of employee share-based awards and warrants. Diluted net loss per share is computed giving effect to all potential dilutive common shares, including common stock issuable upon exercise of stock options and unvested restricted common stock. As the Company had net losses for each of the three and nine months ended December 31, 2021 and 2020, all potential common shares were determined to be anti-dilutive, resulting in basic and diluted net loss per share being equal. Additionally, the 4.5 million shares underlying the Conversion Option in the Notes were not considered in the calculation of diluted net loss per share as the effect would be anti-dilutive. The Notes were not convertible as of December 31, 2021. ASU 2020-06 eliminates the treasury stock method and instead requires the application of the if-converted method to calculate the impact of convertible instruments on diluted earnings per share when the instruments may be settled in cash or shares. The required use of the if-converted method did not impact the diluted net loss per share as the Company was in a net loss position. The following table sets forth the computation of net loss per share, basic and diluted (in thousands, except per share amounts): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Numerator: Net loss attributable to New Relic $ (62,706) $ (53,626) $ (194,889) $ (130,933) Denominator: Weighted average shares used to compute net loss per share, basic and diluted 64,983 61,209 64,203 60,562 Net loss attributable to New Relic per share—basic and diluted $ (0.96) $ (0.88) $ (3.04) $ (2.16) The following outstanding options, unvested shares, and ESPP shares were excluded (as common stock equivalents) from the computation of diluted net loss per common share for the periods presented as their effect would have been antidilutive (in thousands): As of December 31, 2021 2020 Options to purchase common stock 1,804 3,011 RSUs 3,617 3,992 PSUs 320 112 ESPP shares 87 144 5,828 7,259

Revenue by Geographic Location

Revenue by Geographic Location	9 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Revenue by Geographic Location	Revenue by Geographic Location The following table shows the Company’s revenue by geographic areas, as determined based on the billing address of its customers (in thousands): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 United States $ 134,687 $ 114,102 $ 391,127 $ 341,458 EMEA 31,714 26,459 89,920 77,903 APAC 21,354 16,013 57,852 46,276 Other 15,836 9,766 40,870 29,342 Total revenue $ 203,591 $ 166,340 $ 579,769 $ 494,979 Substantially all of the Company’s long-lived assets were attributable to operations in the United States as of December 31, 2021 and March 31, 2021.

Restructuring

Restructuring	9 Months Ended
	Dec. 31, 2021
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring In the first quarter of fiscal 2022, the Company commenced a restructuring plan to realign its cost structure to better reflect significant product and business model innovation over the past 12 months. As a result of the restructuring plan, the Company incurred charges of approximately $12.6 million for employee terminations and other costs associated with the restructuring plan. Most of these charges consisted of cash expenditures and stock-based compensation expense which were recognized and mostly paid off in the first quarter of fiscal 2022. For the third quarter of fiscal 2022, the Company had an immaterial credit adjustment and had no restructuring charges for the same period last year. The Company incurred $12.6 million and $0 million in restructuring charges for the nine months ended December 31, 2021 and 2020, respectively. The following table shows the Company’s restructuring charges for the nine months ended December 31, 2021 (in thousands): Nine Months Ended December 31, 2021 Severance and other employee costs Stock-based compensation Asset impairment Total Sales and marketing $ 10,819 $ 406 $ 104 $ 11,329 General and administrative 1,170 87 26 1,283 Total $ 11,989 $ 493 $ 130 $ 12,612

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Description of Business	New Relic, Inc. (the “Company” or “New Relic”) was incorporated in Delaware on February 20, 2008, when it converted from a Delaware limited liability company called New Relic Software, LLC, which was formed in Delaware in September 2007. The Company delivers a software platform for customers to land all their telemetry data in one place and derive actionable insights from that data in a unified front-end application. The Company’s platform, New Relic One, provides users with a consistent and comprehensive view of their digital environment allowing them to observe and operate all the components of their digital infrastructure.
Basis of Presentation	Basis of Presentation —These unaudited condensed consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2021, as filed with the SEC on May 14, 2021 (the “Annual Report”). In the opinion of management, the unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, comprehensive loss, stockholders’ equity and cash flows for the interim period, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year ending March 31, 2022. The condensed consolidated balance sheet as of March 31, 2021 included herein was derived from the audited financial statements as of that date.
Use of Estimates and COVID-19	Use of Estimates —The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of income and expenses during the reporting period. Significant items subject to such estimates and assumptions include the fair value of share-based awards, fair value of purchased intangible assets and goodwill, variable consideration included in the transaction price for our customer contracts, useful lives of purchased intangible assets, unrecognized tax benefits, incremental borrowing rate used for operating lease liabilities, and the capitalization and estimated useful life of the Company’s software development costs. These estimates are based on information available as of the date of the consolidated financial statements; therefore, actual results could differ from management’s estimates.
Concentration of Risk	Concentration of Risk —There was no customer that represented more than 10% of the Company’s accounts receivable balance as of December 31, 2021 or March 31, 2021. There was no customer that individually exceeded 10% of the Company’s revenue during the three or nine months ended December 31, 2021 or 2020.
Revenue Recognition	Revenue Recognition —The Company generates revenue from subscription-based arrangements and usage-based arrangements that allow customers to access its products and/or platform. The Company determines revenue recognition through the following steps: • identification of the contract, or contracts with a customer; • identification of the performance obligations in the contract; • determination of the transaction price; • allocation of the transaction price to the performance obligations in the contract; and • recognition of revenue, when, or as, the Company satisfies a performance obligation. Revenue from subscription-based arrangements is recognized on a ratable basis over the contractual subscription period of the arrangement beginning when or as control of the promised goods or services is transferred to the customer. Beginning in the second quarter of fiscal 2021, the Company started offering usage-based pricing to its customers. Customers have the option to be charged upon their incurred usage in arrears (“Pay as You Go”), or they may commit to a minimum spend over their contracted period (“Annual Pool of Funds”). Revenue related to Pay as You Go contracts are recognized based on the customers’ actual usage. Revenue related to Annual Pool of Funds contracts are recognized on a ratable basis over the contract period including an estimate of the usage above the minimum commitment. The estimated usage-based revenues are constrained to the amount the Company expects to be entitled to receive in exchange for providing access to its platform.
Recently Issued Accounting Pronouncements Not Yet Adopted and Recently Adopted Accounting Pronouncements	Recently Issued Accounting Pronouncements Not Yet Adopted In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40). The new ASU addresses an issuer’s accounting for certain modifications or exchanges of freestanding equity-classified written call options. This guidance is effective for the Company’s fiscal year beginning April 1, 2022. The Company is currently evaluating the impact of adopting this guidance. In October 2021, the FASB issued ASU No. 2021-08, Business Combinations - Accounting for Contract Liabilities from Contracts with Customers (Topic 805), which requires an acquirer in a business combination to recognize and measure contract assets and contract liabilities from acquired contracts using the revenue recognition guidance under ASC 606 as if the entity had originated the contracts. The guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company is currently evaluating the impact of adopting this guidance. Recently Adopted Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, Accounting for Convertible Instruments and Contract on an Entity’s Own Equity (Subtopic 815-40) (“ASU 2020-06”). ASU 2020-06 simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. The Company adopted ASU 2020-06 effective April 1, 2021, using the modified retrospective basis, which resulted in a $54.2 million decrease to the opening balance of accumulated deficit, a $100.1 million decrease to the opening balance of additional paid-in capital, and a $45.9 million increase to the opening balance of the Notes, net on the consolidated balance sheet.

Joint Venture (Tables)

Joint Venture (Tables)	9 Months Ended
	Dec. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Redeemable Non-Controlling Interest	The following table summarizes the activity in the redeemable non-controlling interest for the periods indicated below: Nine Months Ended December 31, 2021 2020 Balance, beginning of period $ 3,389 $ 1,669 Net loss attributable to redeemable non-controlling interest (275) (1,059) Adjustment to redeemable non-controlling interest 19,450 — Balance, end of period $ 22,564 $ 610

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Information about financial assets measured at fair value on recurring basis	The following tables present information about the Company’s financial assets measured at fair value on a recurring basis as of December 31, 2021 and March 31, 2021 based on the three-tier fair value hierarchy (in thousands): Fair Value Measurements as of December 31, 2021 Level 1 Level 2 Level 3 Total Cash and cash equivalents: Money market funds $ 139,891 $ — $ — $ 139,891 Short-term investments: Certificates of deposit — 93,720 — 93,720 Commercial paper — 32,049 — 32,049 Corporate notes and bonds — 88,864 — 88,864 U.S. treasury securities 319,319 — — 319,319 Restricted cash: Money market funds 5,775 — — 5,775 Total $ 464,985 $ 214,633 $ — $ 679,618 Included in cash and cash equivalents $ 139,891 Included in short-term investments $ 533,952 Included in restricted cash $ 5,775 Fair Value Measurements as of March 31, 2021 Level 1 Level 2 Level 3 Total Cash and cash equivalents: Money market funds $ 101,626 $ — $ — $ 101,626 Short-term investments: Certificates of deposit — 48,099 — 48,099 Commercial paper — 11,681 — 11,681 Corporate notes and bonds — 39,873 — 39,873 U.S. treasury securities 475,601 — — 475,601 Restricted cash: Money market funds 5,642 — — 5,642 Total $ 582,869 $ 99,653 $ — $ 682,522 Included in cash and cash equivalents $ 101,626 Included in short-term investments $ 575,254 Included in restricted cash $ 5,642
Available-for-sale securities	The following table presents the Company’s available-for-sale securities as of December 31, 2021 (in thousands): Available-for-sale Investments as of December 31, 2021 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Short-term investments: Certificates of deposit $ 93,800 $ 3 $ (83) $ 93,720 Commercial paper 32,067 2 (20) 32,049 Corporate notes and bonds 89,381 14 (531) 88,864 U.S. treasury securities 319,954 279 (914) 319,319 Total available-for-sale investments $ 535,202 $ 298 $ (1,548) $ 533,952 The following table presents the Company’s available-for-sale securities as of March 31, 2021 (in thousands): Available-for-sale Investments as of March 31, 2021 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Short-term investments: Certificates of deposit $ 48,100 $ 18 $ (19) $ 48,099 Commercial paper 11,676 5 — 11,681 Corporate notes and bonds 39,620 261 (8) 39,873 U.S. treasury securities 474,171 1,575 (145) 475,601 Total available-for-sale investments $ 573,567 $ 1,859 $ (172) $ 575,254
Classification of available-for-sale short-term investments by contractual maturities	The following table classifies the Company’s available-for-sale short-term investments by contractual maturities as of December 31, 2021 and March 31, 2021 (in thousands): December 31, 2021 March 31, 2021 Due within one year $ 357,579 $ 299,032 Due after one year and within three years 176,373 276,222 Total $ 533,952 $ 575,254

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net, consisted of the following (in thousands): December 31, 2021 March 31, 2021 Computers, software, and equipment $ 14,430 $ 14,270 Site operation equipment 75,267 87,479 Furniture and fixtures 5,772 5,758 Leasehold improvements 49,717 49,751 Capitalized software development costs 76,485 66,451 Total property and equipment 221,671 223,709 Less: accumulated depreciation and amortization (148,239) (132,401) Total property and equipment, net $ 73,432 $ 91,308

0.5% Convertible Senior Notes_2

0.5% Convertible Senior Notes and Capped Call (Tables)	9 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Summary of Convertible Debt	The net carrying amount of the liability component of the Notes was as follows (in thousands): December 31, 2021 March 31, 2021 Principal $ 500,250 $ 500,250 Unamortized debt discount — (46,378) Unamortized issuance costs (3,178) (4,492) Net carrying amount $ 497,072 $ 449,380
Summary of Interest Expense	Interest expense related to the Notes was as follows (in thousands): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Amortization of debt discount $ — $ 5,162 $ — $ 15,287 Amortization of issuance costs 590 460 1,766 1,345 Contractual interest expense 624 625 1,872 1,876 Total interest expense $ 1,214 $ 6,247 $ 3,638 $ 18,508

Goodwill and Purchased Intang_2

Goodwill and Purchased Intangibles Assets (Tables)	9 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill for the nine months ended December 31, 2021 consisted of the following (in thousands): Goodwill as of March 31, 2021 $ 144,253 Goodwill acquired 19,424 Goodwill as of December 31, 2021 $ 163,677
Schedule of Purchased Intangible Assets Subject to Amortization	Purchased intangible assets subject to amortization as of December 31, 2021 consisted of the following (in thousands): Gross Carrying Accumulated Net Carrying Developed technology $ 27,500 $ (9,572) $ 17,928 Purchased intangible assets subject to amortization as of March 31, 2021 consisted of the following (in thousands): Gross Carrying Accumulated Net Carrying Developed technology $ 20,116 $ (7,130) $ 12,986
Schedule of Estimated Future Amortization Expense	Estimated future amortization expense as of December 31, 2021 was as follows (in thousands): Fiscal Years Ending March 31, Estimated Future Amortization Expense 2022 (remaining three months) $ 2,292 2023 9,000 2024 4,633 2025 2,003 $ 17,928

Leases (Tables)

Leases (Tables)	9 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Schedule of Condensed Consolidated Balance Sheet	The following table presents information about leases on the condensed consolidated balance sheet (in thousands): December 31, 2021 March 31, 2021 Assets Lease right-of-use-assets $ 51,718 $ 57,425 Liabilities Lease liabilities $ 9,594 $ 7,886 Lease liabilities, non-current 52,328 59,924 Total operating lease liabilities $ 61,922 $ 67,810
Schedule of Condensed Consolidated Statement of Operations and Supplemental Cash Flow Information	The following table presents information about leases on its condensed consolidated statement of operations (in thousands): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Operating lease expense $ 3,418 $ 3,467 $ 10,372 $ 10,382 Short-term lease expense 164 230 467 654 Variable lease expense 736 607 2,099 1,931 The following table presents supplemental cash flow information about the Company’s leases (in thousands): Nine Months Ended December 31, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities $ 11,120 $ 11,632 Operating lease assets obtained in exchange for new lease liabilities (1) 1,414 8,536 (1) Includes the impact of new leases as well as remeasurements and modifications to existing leases.
Remaining Maturities of Lease Liabilities	As of December 31, 2021, remaining maturities of lease liabilities were as follows (in thousands): Fiscal Years Ending March 31, Operating Leases 2022 (remaining three months) $ 2,285 2023 14,838 2024 13,624 2025 11,639 2026 11,841 2027 12,430 Thereafter 8,359 Total operating lease payments $ 75,016 Less imputed interest (13,094) Total operating lease liabilities $ 61,922

Common Stock and Stockholders_2

Common Stock and Stockholders' Equity (Tables)	9 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Schedule of Stock Option and RSU and PSU Award Activities	The following table summarizes the Company’s stock option, restricted stock unit (“RSU”), and performance unit (“PSU”) award activities for the nine months ended December 31, 2021 (in thousands, except exercise price, contractual term and fair value information): Options Outstanding RSUs Outstanding PSUs Outstanding Number of Shares Weighted- Average Exercise Price Weighted- Aggregate Intrinsic Value Number of Shares Weighted- Average Grant Date Fair Value Weighted- Aggregate Intrinsic Value Number of Shares Weighted- Average Grant Date Fair Value Weighted- Aggregate Intrinsic Value Outstanding - April 1, 2021 2,718 $ 50.55 6.2 $ 48,064 3,293 $ 67.76 2.8 $ 202,459 112 $ 99.05 2.0 $ 6,884 Granted — — 2,407 69.59 241 82.89 Exercised/vested (727) 40.14 32,092 (1,116) 66.51 (33) 99.05 Canceled/forfeited (187) 71.30 (967) 66.45 — Outstanding - December 31, 2021 1,804 $ 52.59 5.7 $ 103,913 3,617 $ 69.70 2.8 $ 399,108 320 $ 86.88 2.0 $ 35,235
Schedule of Stock-based Compensation Expense Attributed to Cost of Revenue, Research and Development, Sales and Marketing and General and Administrative Expenses	Cost of revenue, research and development, sales and marketing, and general and administrative expenses were as follows (in thousands): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Cost of revenue $ 1,382 $ 1,472 $ 3,757 $ 4,596 Research and development 13,117 10,960 36,228 30,214 Sales and marketing 12,537 15,115 37,619 42,960 General and administrative (1) 10,755 8,922 39,945 25,274 Total stock-based compensation expense (2) $ 37,791 $ 36,469 $ 117,549 $ 103,044 (1) Includes $9.6 million acceleration of share-based payment expense for the nine months ended December 31, 2021, for one of the Company’s executives due to his departure at the end of June 2021. There was no corresponding expense for the three-month period. (2) Includes $0.5 million expense for the nine months ended December 31, 2021, due to the restructuring activities commenced in the first quarter of fiscal 2022. There was no corresponding expense for the three-month period. Refer to Note 16. Restructuring for more information.

Accounts Receivable, Deferred_2

Accounts Receivable, Deferred Revenue and Performance Obligations (Tables)	9 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract with Customer, Contract Asset, Contract Liability, and Receivable	The following table presents the changes to the Company’s deferred revenue (in thousands): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Deferred revenue, beginning of period $ 272,246 $ 275,598 $ 375,268 $ 316,327 Contributions from contract asset (1,022) 1,022 618 1,166 Billings 240,407 193,151 511,923 480,917 Revenue recognized (203,591) (166,340) (579,769) (494,979) Deferred revenue, end of period $ 308,040 $ 303,431 $ 308,040 $ 303,431

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Computation of Net Loss Per Share, Basic and Diluted	The following table sets forth the computation of net loss per share, basic and diluted (in thousands, except per share amounts): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Numerator: Net loss attributable to New Relic $ (62,706) $ (53,626) $ (194,889) $ (130,933) Denominator: Weighted average shares used to compute net loss per share, basic and diluted 64,983 61,209 64,203 60,562 Net loss attributable to New Relic per share—basic and diluted $ (0.96) $ (0.88) $ (3.04) $ (2.16)
Antidilutive Securities Excluded from Computation of Diluted Net Loss per Common Share of Common Stock Equivalents	The following outstanding options, unvested shares, and ESPP shares were excluded (as common stock equivalents) from the computation of diluted net loss per common share for the periods presented as their effect would have been antidilutive (in thousands): As of December 31, 2021 2020 Options to purchase common stock 1,804 3,011 RSUs 3,617 3,992 PSUs 320 112 ESPP shares 87 144 5,828 7,259

Revenue by Geographic Location

Revenue by Geographic Location (Tables)	9 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Schedule of Revenue by Geographic Areas	The following table shows the Company’s revenue by geographic areas, as determined based on the billing address of its customers (in thousands): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 United States $ 134,687 $ 114,102 $ 391,127 $ 341,458 EMEA 31,714 26,459 89,920 77,903 APAC 21,354 16,013 57,852 46,276 Other 15,836 9,766 40,870 29,342 Total revenue $ 203,591 $ 166,340 $ 579,769 $ 494,979

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Dec. 31, 2021
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Charges	The following table shows the Company’s restructuring charges for the nine months ended December 31, 2021 (in thousands): Nine Months Ended December 31, 2021 Severance and other employee costs Stock-based compensation Asset impairment Total Sales and marketing $ 10,819 $ 406 $ 104 $ 11,329 General and administrative 1,170 87 26 1,283 Total $ 11,989 $ 493 $ 130 $ 12,612

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Apr. 01, 2021	Mar. 31, 2021
Debt Instrument [Line Items]
Decrease to the opening balance of accumulated deficit	$ (727,795)		$ (587,116)
Increase to the opening balance of Convertible senior notes	$ 497,072		$ 449,380
Accounting Standards Update 2020-06
Debt Instrument [Line Items]
Decrease to the opening balance of accumulated deficit		$ 54,200
Decrease to the opening balance of additional paid-in capital		100,100
Increase to the opening balance of Convertible senior notes		$ 45,900

Business Combinations - Narrati

Business Combinations - Narrative (Details) $ / shares in Units, $ in Thousands	Jun. 08, 2021USD ($)$ / sharesshares	Dec. 22, 2020USD ($)$ / sharesshares	Dec. 31, 2021USD ($)business	Mar. 31, 2021USD ($)
Business Acquisition [Line Items]
Number of businesses acquired | business			1
Preliminary purchase price allocation, goodwill			$ 163,677	$ 144,253
CodeStream Inc.
Business Acquisition [Line Items]
Aggregate purchase price of acquisition	$ 28,600
Aggregate purchase price, cash paid	15,100
Cash held in escrow	$ 7,300
Held in escrow period	18 months
Number of shares issued to acquire capital stock (in shares) | shares	202,561
Aggregate fair value of common stock	$ 13,500
Fair value of shares issued to acquire capital stock (in usd per share) | $ / shares	$ 66.58
Holdback arrangement, common stock (in shares) | shares	199,492
Amount excluded from the aggregate purchase price	$ 13,300
Vesting period	42 months
CodeStream Inc. | Technology
Business Acquisition [Line Items]
Acquired technology, estimated useful life	3 years
Acquired technology	$ 10,300
Pixie Labs Inc.
Business Acquisition [Line Items]
Aggregate purchase price of acquisition		$ 107,900
Aggregate purchase price, cash paid		45,600
Cash held in escrow		$ 15,000
Held in escrow period		12 months
Number of shares issued to acquire capital stock (in shares) | shares		884,269
Fair value of shares issued to acquire capital stock (in usd per share) | $ / shares		$ 70.53
Common stock fair value		$ 62,400
Preliminary purchase price allocation, goodwill		$ 99,100
Pixie Labs Inc. | Technology
Business Acquisition [Line Items]
Acquired technology, estimated useful life		3 years
Acquired technology		$ 4,800

Joint Venture - Narrative (Deta

Joint Venture - Narrative (Details) $ in Thousands, ¥ in Millions	Aug. 21, 2019USD ($)	Aug. 21, 2019JPY (¥)	Aug. 21, 2018USD ($)	Aug. 21, 2018JPY (¥)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Aug. 21, 2019JPY (¥)
Schedule of Equity Method Investments [Line Items]
Additional investor contribution	$ 1,500						¥ 156
Adjustment to redeemable non-controlling interest					$ 19,450	$ 0
New Relic K.K
Schedule of Equity Method Investments [Line Items]
Ownership percentage, parent					60.00%
The Investors
Schedule of Equity Method Investments [Line Items]
Contributions for joint venture	$ 1,000	¥ 104	$ 3,600	¥ 396
The Investors | New Relic K.K
Schedule of Equity Method Investments [Line Items]
Ownership percentage, noncontrolling interest			40.00%	40.00%

Joint Venture - Schedule of Red

Joint Venture - Schedule of Redeemable Non-Controlling Interest (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Increase (Decrease) in Temporary Equity [Roll Forward]
Balance, beginning of period	$ 3,389	$ 1,669
Net loss attributable to redeemable non-controlling interest	(275)	(1,059)
Adjustment to redeemable non-controlling interest	19,450	0
Balance, end of period	$ 22,564	$ 610

Fair Value Measurements - Infor

Fair Value Measurements - Information about financial assets measured at fair value on recurring basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	$ 679,618	$ 682,522
Cash and cash equivalents:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	139,891	101,626
Short-term investments:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	533,952	575,254
Restricted cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	5,775	5,642
Money market funds | Cash and cash equivalents:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	139,891	101,626
Money market funds | Restricted cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	5,775	5,642
Certificates of deposit | Short-term investments:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	93,720	48,099
Commercial paper | Short-term investments:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	32,049	11,681
Corporate notes and bonds | Short-term investments:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	88,864	39,873
U.S. treasury securities | Short-term investments:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	319,319	475,601
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	464,985	582,869
Level 1 | Money market funds | Cash and cash equivalents:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	139,891	101,626
Level 1 | Money market funds | Restricted cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	5,775	5,642
Level 1 | Certificates of deposit | Short-term investments:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	0	0
Level 1 | Commercial paper | Short-term investments:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	0	0
Level 1 | Corporate notes and bonds | Short-term investments:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	0	0
Level 1 | U.S. treasury securities | Short-term investments:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	319,319	475,601
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	214,633	99,653
Level 2 | Money market funds | Cash and cash equivalents:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	0	0
Level 2 | Money market funds | Restricted cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	0	0
Level 2 | Certificates of deposit | Short-term investments:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	93,720	48,099
Level 2 | Commercial paper | Short-term investments:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	32,049	11,681
Level 2 | Corporate notes and bonds | Short-term investments:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	88,864	39,873
Level 2 | U.S. treasury securities | Short-term investments:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	0	0
Level 3 | Money market funds | Cash and cash equivalents:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	0	0
Level 3 | Money market funds | Restricted cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	0	0
Level 3 | Certificates of deposit | Short-term investments:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	0	0
Level 3 | Commercial paper | Short-term investments:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	0	0
Level 3 | Corporate notes and bonds | Short-term investments:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	0	0
Level 3 | U.S. treasury securities | Short-term investments:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	$ 0	$ 0

Fair Value Measurements - Debt

Fair Value Measurements - Debt Securities, Available-for-sale (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 535,202	$ 573,567
Unrealized Gains	298	1,859
Unrealized Losses	(1,548)	(172)
Total	533,952	575,254
Certificates of deposit
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	93,800	48,100
Unrealized Gains	3	18
Unrealized Losses	(83)	(19)
Total	93,720	48,099
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	32,067	11,676
Unrealized Gains	2	5
Unrealized Losses	(20)	0
Total	32,049	11,681
Corporate notes and bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	89,381	39,620
Unrealized Gains	14	261
Unrealized Losses	(531)	(8)
Total	88,864	39,873
U.S. treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	319,954	474,171
Unrealized Gains	279	1,575
Unrealized Losses	(914)	(145)
Total	$ 319,319	$ 475,601

Fair Value Measurements - Class

Fair Value Measurements - Classification of available-for-sale short-term investments by contractual maturities (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Total	$ 533,952	$ 575,254
Short-term investments:
Debt Securities, Available-for-sale [Line Items]
Due within one year	357,579	299,032
Due after one year and within three years	176,373	276,222
Total	$ 533,952	$ 575,254

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Detail) $ in Millions	Dec. 31, 2021USD ($)
Convertible Debt | Level 2 | Convertible Senior Notes Due 2023
Debt Instrument [Line Items]
Fair value of Notes	$ 541.4

Contract Acquisition Costs (Det

Contract Acquisition Costs (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Capitalized contract cost	$ 41,800,000		$ 41,800,000		$ 68,800,000
Capitalized contract cost, amortization	8,800,000	$ 9,700,000	28,600,000	$ 28,200,000
Costs expensed as incurred	$ 17,000,000	$ 4,400,000	46,500,000	10,600,000
Contract asset impairment			$ 0	$ 0

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 221,671	$ 223,709
Less: accumulated depreciation and amortization	(148,239)	(132,401)
Total property and equipment, net	73,432	91,308
Computers, software, and equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	14,430	14,270
Site operation equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	75,267	87,479
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment	5,772	5,758
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	49,717	49,751
Capitalized software development costs
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 76,485	$ 66,451

Property and Equipment - Narrat

Property and Equipment - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 10.3	$ 11.6	$ 31.9	$ 33.4

0.5% Convertible Senior Notes_3

0.5% Convertible Senior Notes and Capped Call - Narrative (Details) $ / shares in Units, shares in Millions	1 Months Ended
	May 31, 2018USD ($)day$ / sharesshares	Dec. 31, 2021USD ($)	Apr. 01, 2021USD ($)	Mar. 31, 2021USD ($)
Debt Instrument [Line Items]
Purchase of capped calls	$ 63,200,000
Decrease to the opening balance of accumulated deficit		$ (727,795,000)		$ (587,116,000)
Increase to the opening balance of Convertible senior notes		497,072,000		449,380,000
Convertible Debt | Notes Price Trigger Measurement
Debt Instrument [Line Items]
Threshold trading days | day	20
Threshold consecutive trading days | day	5
Threshold percentage of stock price trigger (less than)	130.00%
Convertible Debt | Stock Price Trigger Measurement
Debt Instrument [Line Items]
Threshold trading days | day	5
Threshold consecutive trading days | day	30
Threshold percentage of stock price trigger (less than)	98.00%
Convertible Senior Notes Due 2023 | Convertible Debt
Debt Instrument [Line Items]
Debt instrument face amount	$ 500,250,000
Stated interest rate	0.50%
Convertible debt, conversion ratio	0.0090244
Convertible debt, conversion price (in dollars per share) | $ / shares	$ 110.81
Debt discount for Conversion Option	$ 102,500,000
Effective interest rate	5.74%
Issuance costs	$ 11,600,000	$ 3,178,000		$ 4,492,000
Debt issuance costs, equity component	9,200,000
Unamortized discount issuance costs	2,400,000
Convertible Senior Notes Due 2023, Over-Allotment Option | Convertible Debt
Debt Instrument [Line Items]
Debt instrument face amount	$ 65,250,000
Capped Calls
Debt Instrument [Line Items]
Convertible debt, conversion price (in dollars per share) | $ / shares	$ 110.81
Initial cap price (in dollars per share) | $ / shares	$ 173.82
Number of shares covered by cap call (in shares) | shares	4.5
Capped Calls | Additional Paid-In Capital
Debt Instrument [Line Items]
Cost incurred related to capped calls	$ 63,200,000
Accounting Standards Update 2020-06
Debt Instrument [Line Items]
Decrease to the opening balance of accumulated deficit			$ 54,200,000
Decrease to the opening balance of additional paid-in capital			100,100,000
Increase to the opening balance of Convertible senior notes			$ 45,900,000

0.5% Convertible Senior Notes_4

0.5% Convertible Senior Notes and Capped Call - Schedule of Liability Component of Convertible Debt (Details) - Convertible Senior Notes Due 2023 - Convertible Debt - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021	May 31, 2018
Debt Instrument [Line Items]
Principal	$ 500,250	$ 500,250
Unamortized debt discount	0	(46,378)
Unamortized issuance costs	(3,178)	(4,492)	$ (11,600)
Net carrying amount	$ 497,072	$ 449,380

0.5% Convertible Senior Notes_5

0.5% Convertible Senior Notes and Capped Call - Schedule of Interest Expense (Details) - Convertible Debt - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Total interest expense			$ 3,638	$ 18,508
Convertible Senior Notes Due 2023
Debt Instrument [Line Items]
Amortization of debt discount	$ 0	$ 5,162	0	15,287
Amortization of issuance costs	590	460	1,766	1,345
Contractual interest expense	624	625	$ 1,872	$ 1,876
Total interest expense	$ 1,214	$ 6,247

Goodwill and Purchased Intang_3

Goodwill and Purchased Intangibles Assets - Schedule of Goodwill (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2021USD ($)
Goodwill [Roll Forward]
Goodwill as of March 31, 2021	$ 144,253
Goodwill acquired	19,424
Goodwill as of December 31, 2021	$ 163,677

Goodwill and Purchased Intang_4

Goodwill and Purchased Intangibles Assets - Schedule of Purchased Intangible Assets Subject to Amortization (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Net Carrying Amount	$ 17,928	$ 12,986
Developed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	27,500	20,116
Accumulated Amortization	(9,572)	(7,130)
Net Carrying Amount	$ 17,928	$ 12,986

Goodwill and Purchased Intang_5

Goodwill and Purchased Intangibles Assets - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 2	$ 1.2	$ 5.4	$ 3.8

Goodwill and Purchased Intang_6

Goodwill and Purchased Intangibles Assets - Schedule of Estimated Future Amortization Expense (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
2022 (remaining three months)	$ 2,292
2023	9,000
2024	4,633
2025	2,003
Net Carrying Amount	$ 17,928	$ 12,986

Leases - Assets and Liabilities

Leases - Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Assets
Lease right-of-use assets	$ 51,718	$ 57,425
Liabilities
Lease liabilities	9,594	7,886
Lease liabilities, non-current	52,328	59,924
Total operating lease liabilities	$ 61,922	$ 67,810

Leases - Narrative (Details)

Leases - Narrative (Details)	Dec. 31, 2021
Leases [Abstract]
Weighted average remaining lease term	5 years 6 months
Weighted average discount rate	6.80%

Leases - Expense (Details)

Leases - Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease expense	$ 3,418	$ 3,467	$ 10,372	$ 10,382
Short-term lease expense	164	230	467	654
Variable lease expense	$ 736	$ 607	$ 2,099	$ 1,931

Leases - Cash Flow Information

Leases - Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 11,120	$ 11,632
Operating lease assets obtained in exchange for new lease liabilities	$ 1,414	$ 8,536

Leases - Operating Lease Maturi

Leases - Operating Lease Maturity Schedule (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Leases [Abstract]
2022 (remaining three months)	$ 2,285
2023	14,838
2024	13,624
2025	11,639
2026	11,841
2027	12,430
Thereafter	8,359
Total operating lease payments	75,016
Less imputed interest	(13,094)
Total operating lease liabilities	$ 61,922	$ 67,810

Commitments and Contingencies (

Commitments and Contingencies (Detail) - USD ($) $ in Millions	9 Months Ended
	Dec. 31, 2021	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Purchase commitments	$ 358.4	$ 494.6
Minimum purchase commitment, term	5 years
Minimum purchase commitment, term, amount	$ 500

Common Stock and Stockholders_3

Common Stock and Stockholders' Equity - Narrative (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Stock-based compensation expense		$ 37,791	$ 36,469	$ 117,549	$ 103,044
Unrecognized stock-based compensation cost		12,300		$ 12,300
Stock-based compensation cost expected to be recognized over weighted-average period				2 years
PSUs
Class of Stock [Line Items]
Stock-based compensation cost expected to be recognized over weighted-average period				2 years
Unrecognized stock-based compensation cost related to outstanding unvested stock awards		14,000		$ 14,000
PSUs | Share-based Payment Arrangement, One-Year
Class of Stock [Line Items]
Measurement period				1 year
PSUs | Share-based Payment Arrangement, Two-Year
Class of Stock [Line Items]
Measurement period				2 years
PSUs | Share-based Payment Arrangement, Three-Year
Class of Stock [Line Items]
Measurement period				3 years
PSUs | Minimum
Class of Stock [Line Items]
Percentage of total shareholder return				0.00%
PSUs | Maximum
Class of Stock [Line Items]
Percentage of total shareholder return				200.00%
RSUs
Class of Stock [Line Items]
Stock-based compensation cost expected to be recognized over weighted-average period				2 years 8 months 12 days
Unrecognized stock-based compensation cost related to outstanding unvested stock awards		274,400		$ 274,400
ESPP shares
Class of Stock [Line Items]
Shares reserved for issuance under plan (in shares)	1,000,000
Additional shares available for issuance under the plan (in shares)	500,000
Percentage of common stock shares increased under the plan	1.00%
Shares purchased under plan (in shares)				100,309	136,978
Stock-based compensation expense		$ 1,100	$ 1,700	$ 3,000	$ 4,100
Shares available for issuance (in shares)		3,101,268		3,101,268
2008 Equity Incentive Plan
Class of Stock [Line Items]
Shares available for issuance (in shares)		0		0
2014 Equity Incentive Plan
Class of Stock [Line Items]
Shares reserved for issuance under plan (in shares)	5,000,000
Shares available for issuance (in shares)		13,973,787		13,973,787
Shares available for grant under plan (in shares)	5,184,878
Increase in shares available under plan, percentage of outstanding common stock shares	5.00%

Common Stock and Stockholders_4

Common Stock and Stockholders' Equity - Schedule of Stock Option, RSU, and PSU Award Activities (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 30, 2021	Dec. 31, 2021	Mar. 31, 2021
Number of Shares
Beginning balance (in shares)	2,718	2,718
Stock options granted (in shares)		0
Stock options exercised (in shares)		(727)
Stock options canceled/forfeited (in shares)		(187)
Ending balance (in shares)		1,804
Weighted- Average Exercise Price
Beginning balance (in usd per share)	$ 50.55	$ 50.55
Stock options granted (in usd per share)		0
Stock options exercised (in usd per share)		40.14
Stock options canceled/forfeited (in usd per share)		71.30
Ending balance (in usd per share)		$ 52.59
Weighted- Average Remaining Contractual Term (in years)
Weighted- Average Remaining Contractual Term (in years)	6 years 2 months 12 days	5 years 8 months 12 days
Aggregate Intrinsic Value
Beginning aggregate intrinsic value	$ 48,064	$ 48,064
Stock options exercised		32,092
Ending aggregate intrinsic value		$ 103,913
RSUs
Number of Shares
Beginning balance (in shares)	3,293	3,293
RSUs and PSUs granted (in shares)		2,407
RSUs and PSUs vested (in shares)		(1,116)
RSUs and PSUs canceled/forfeited (in shares)		(967)
Ending balance (in shares)		3,617
Weighted- Average Grant Date Fair Value
Beginning balance (in usd per share)	$ 67.76	$ 67.76
RSUs and PSUs granted (in usd per share)		69.59
RSUs and PSUs vested (in usd per share)		66.51
RSUs and PSUs canceled/forfeited (in usd per share)		66.45
Ending balance (in usd per share)		$ 69.70
Weighted- Average Remaining Contractual Term (in years)
Weighted Average Remaining Contractual Terms (in years)	2 years 9 months 18 days	2 years 9 months 18 days
Aggregate Intrinsic Value
Aggregate intrinsic value, outstanding		$ 399,108	$ 202,459
PSUs
Number of Shares
Beginning balance (in shares)	112	112
RSUs and PSUs granted (in shares)		241
RSUs and PSUs vested (in shares)		(33)
RSUs and PSUs canceled/forfeited (in shares)		0
Ending balance (in shares)		320
Weighted- Average Grant Date Fair Value
Beginning balance (in usd per share)	$ 99.05	$ 99.05
RSUs and PSUs granted (in usd per share)		82.89
RSUs and PSUs vested (in usd per share)		99.05
Ending balance (in usd per share)		$ 86.88
Weighted- Average Remaining Contractual Term (in years)
Weighted Average Remaining Contractual Terms (in years)	2 years	2 years
Aggregate Intrinsic Value
Aggregate intrinsic value, outstanding		$ 35,235	$ 6,884

Common Stock and Stockholders_5

Common Stock and Stockholders' Equity - Summary of Stock-Based Compensation Expense (Detail) - USD ($)	3 Months Ended			9 Months Ended
	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 37,791,000		$ 36,469,000	$ 117,549,000	$ 103,044,000
Restructuring charges	0	$ 12,600,000	0	12,612,000	0
Stock-based compensation
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Restructuring charges	0			493,000
Executive officer
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Acceleration of share-based payment expense	0			9,600,000
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	1,382,000		1,472,000	3,757,000	4,596,000
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	13,117,000		10,960,000	36,228,000	30,214,000
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	12,537,000		15,115,000	37,619,000	42,960,000
Restructuring charges				11,329,000
Sales and marketing | Stock-based compensation
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Restructuring charges				406,000
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 10,755,000		$ 8,922,000	39,945,000	$ 25,274,000
Restructuring charges				1,283,000
General and administrative | Stock-based compensation
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Restructuring charges				$ 87,000

Accounts Receivable, Deferred_3

Accounts Receivable, Deferred Revenue and Performance Obligations - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Contract assets	$ 3.2	$ 1.3

Accounts Receivable, Deferred_4

Accounts Receivable, Deferred Revenue and Performance Obligations - Schedule of Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Contract With Customer, Liability [Roll Forward]
Deferred revenue, beginning of period	$ 272,246	$ 275,598	$ 375,268	$ 316,327
Contributions from contract asset	(1,022)	1,022	618	1,166
Billings	240,407	193,151	511,923	480,917
Revenue recognized	(203,591)	(166,340)	(579,769)	(494,979)
Deferred revenue, end of period	$ 308,040	$ 303,431	$ 308,040	$ 303,431

Accounts Receivable, Deferred_5

Accounts Receivable, Deferred Revenue and Performance Obligations - Performance Obligation (Details) $ in Millions	3 Months Ended	9 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation	$ 609.9	$ 609.9
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue from performance obligations satisfied in prior periods	$ 8.6	$ 9.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	97.00%	97.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period	24 months	24 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	3.00%	3.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period

Income Taxes (Detail)

Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income tax provision	$ 763	$ 564	$ 816	$ 1,276

Net Loss Per Share - Narrative

Net Loss Per Share - Narrative (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per common share (in shares)			5,828	7,259
Convertible Debt Securities
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per common share (in shares)	4,500	4,500	4,500	4,500

Net Loss Per Share - Computatio

Net Loss Per Share - Computation of Net Loss Per Share, Basic and Diluted (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Numerator:
Net loss attributable to New Relic	$ (62,706)	$ (53,626)	$ (194,889)	$ (130,933)
Denominator:
Weighted-average shares used to compute net loss per share, basic (in shares)	64,983	61,209	64,203	60,562
Weighted-average shares used to compute net loss per share, diluted (in shares)	64,983	61,209	64,203	60,562
Net loss attributable to New Relic per share, basic (in dollars per share)	$ (0.96)	$ (0.88)	$ (3.04)	$ (2.16)
Net loss attributable to New Relic per share, diluted (in dollars per share)	$ (0.96)	$ (0.88)	$ (3.04)	$ (2.16)

Net Loss Per Share - Antidiluti

Net Loss Per Share - Antidilutive Securities Excluded from Computation of Diluted Net Loss per Common Share of Common Stock Equivalents (Detail) - shares shares in Thousands	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per common share (in shares)	5,828	7,259
ESPP shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per common share (in shares)	87	144
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per common share (in shares)	3,617	3,992
PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per common share (in shares)	320	112
Options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per common share (in shares)	1,804	3,011

Revenue by Geographic Locatio_2

Revenue by Geographic Location - Schedule of Revenue by Geographic Areas (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Revenue	$ 203,591	$ 166,340	$ 579,769	$ 494,979
United States
Segment Reporting Information [Line Items]
Revenue	134,687	114,102	391,127	341,458
EMEA
Segment Reporting Information [Line Items]
Revenue	31,714	26,459	89,920	77,903
APAC
Segment Reporting Information [Line Items]
Revenue	21,354	16,013	57,852	46,276
Other
Segment Reporting Information [Line Items]
Revenue	$ 15,836	$ 9,766	$ 40,870	$ 29,342

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($)	3 Months Ended			9 Months Ended
	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Restructuring charges	$ 0	$ 12,600,000	$ 0	$ 12,612,000	$ 0

Restructuring - Schedule of Res

Restructuring - Schedule of Restructuring Charges (Details) - USD ($)	3 Months Ended			9 Months Ended
	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0	$ 12,600,000	$ 0	$ 12,612,000	$ 0
Sales and marketing
Restructuring Cost and Reserve [Line Items]
Restructuring charges				11,329,000
General and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring charges				1,283,000
Severance and other employee costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges				11,989,000
Severance and other employee costs | Sales and marketing
Restructuring Cost and Reserve [Line Items]
Restructuring charges				10,819,000
Severance and other employee costs | General and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring charges				1,170,000
Stock-based compensation
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0			493,000
Stock-based compensation | Sales and marketing
Restructuring Cost and Reserve [Line Items]
Restructuring charges				406,000
Stock-based compensation | General and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring charges				87,000
Asset impairment
Restructuring Cost and Reserve [Line Items]
Restructuring charges				130,000
Asset impairment | Sales and marketing
Restructuring Cost and Reserve [Line Items]
Restructuring charges				104,000
Asset impairment | General and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring charges				$ 26,000