New Relic (NEWR) 10-Q 8 Nov 22 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Sep. 30, 2022	Oct. 31, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
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		68,338,083
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001448056
Current Fiscal Year End Date	--03-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Current assets:
Cash and cash equivalents	$ 471,064	$ 268,695
Short-term investments	362,264	559,984
Accounts receivable, net of allowances of $2,562 and $3,073, respectively	112,612	226,182
Prepaid expenses and other current assets	25,172	29,447
Deferred contract acquisition costs	18,587	24,058
Total current assets	989,699	1,108,366
Property and equipment, net	62,183	68,368
Restricted cash	5,779	5,775
Goodwill	172,298	163,677
Intangible assets, net	18,453	15,636
Deferred contract acquisition costs, non-current	5,732	10,463
Lease right-of-use assets	44,599	50,465
Other assets, non-current	6,135	4,916
Total assets	1,304,878	1,427,666
Current liabilities:
Accounts payable	34,459	32,545
Accrued compensation and benefits	36,520	37,023
Other current liabilities	35,125	36,098
Convertible senior notes, current	498,851	0
Deferred revenue	284,130	398,754
Lease liabilities	11,025	11,103
Total current liabilities	900,110	515,523
Convertible senior notes, net	0	497,663
Lease liabilities, non-current	42,842	49,809
Deferred revenue, non-current	1,156	108
Other liabilities, non-current	18,863	20,173
Total liabilities	962,971	1,083,276
Commitments and contingencies (Note 10)
Redeemable non-controlling interest	18,942	21,686
Stockholders’ equity:
Common stock, $0.001 par value; 100,000 shares authorized at September 30, 2022 and March 31, 2022; 68,568 shares and 66,988 shares issued at September 30, 2022 and March 31, 2022, respectively; and 68,308 shares and 66,728 shares outstanding at September 30, 2022 and March 31, 2022, respectively	68	66
Treasury stock - at cost (260 shares)	(263)	(263)
Additional paid-in capital	1,215,315	1,114,221
Accumulated other comprehensive loss	(11,833)	(8,012)
Accumulated deficit	(880,322)	(783,308)
Total stockholders’ equity	322,965	322,704
Total liabilities, redeemable non-controlling interest and stockholders’ equity	$ 1,304,878	$ 1,427,666

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 2,562	$ 3,073
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)	68,568,000	66,988,000
Common stock, shares outstanding (in shares)	68,308,000	66,728,000
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		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenue	$ 226,912	$ 195,694	$ 443,371	$ 376,178
Cost of revenue	64,783	64,262	128,676	123,526
Gross profit	162,129	131,432	314,695	252,652
Operating expenses:
Research and development	68,730	51,368	133,499	100,098
Sales and marketing	96,203	93,067	200,623	195,880
General and administrative	42,483	34,014	81,513	77,579
Total operating expenses	207,416	178,449	415,635	373,557
Loss from operations	(45,287)	(47,017)	(100,940)	(120,905)
Other income (expense):
Interest income	2,425	724	3,535	1,662
Interest expense	(1,233)	(1,228)	(2,465)	(2,454)
Other income (expense)	207	(43)	(2)	(379)
Loss before income taxes	(43,888)	(47,564)	(99,872)	(122,076)
Income tax provision (benefit)	(381)	506	(114)	53
Net loss	(43,507)	(48,070)	(99,758)	(122,129)
Net loss and adjustment attributable to redeemable non-controlling interest	(3,268)	(5,699)	2,744	(10,054)
Net loss attributable to New Relic	$ (46,775)	$ (53,769)	$ (97,014)	$ (132,183)
Net loss attributable to New Relic per share, basic (in usd per share)	$ (0.70)	$ (0.84)	$ (1.45)	$ (2.07)
Net loss attributable to New Relic per share, diluted (in usd per share)	$ (0.70)	$ (0.84)	$ (1.45)	$ (2.07)
Weighted-average shares used to compute net loss per share, basic (in shares)	67,207	64,277	66,816	63,811
Weighted-average shares used to compute net loss per share, diluted (in shares)	67,207	64,277	66,816	63,811

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net loss attributable to New Relic	$ (46,775)	$ (53,769)	$ (97,014)	$ (132,183)
Other comprehensive loss:
Unrealized loss on available-for-sale securities	(1,885)	(358)	(3,821)	(1,189)
Comprehensive loss attributable to New Relic	$ (48,660)	$ (54,127)	$ (100,835)	$ (133,372)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-In Capital	Additional Paid-In Capital Cumulative Effect, Period of Adoption, Adjustment	Treasury Stock	Accumulated Other Comprehensive Loss	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment
Beginning balance (in shares) at Mar. 31, 2021			64,019,000
Beginning balance at Mar. 31, 2021	$ 413,975	$ (45,926)	$ 64	$ 1,001,309	$ (100,136)	$ (263)	$ (19)	$ (587,116)	$ 54,210
Beginning balance, treasury stock (in shares) at Mar. 31, 2021						260,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Effect of adoption of ASU [Extensible Enumeration]	Accounting Standards Update 2020-06
Ending balance (in shares) at Jun. 30, 2021			64,966,000
Ending balance, treasury stock (in shares) at Jun. 30, 2021						260,000
Ending balance at Jun. 30, 2021	$ 350,143		$ 64	962,512		$ (263)	(850)	(611,320)
Beginning balance (in shares) at Mar. 31, 2021			64,019,000
Beginning balance at Mar. 31, 2021	413,975	$ (45,926)	$ 64	1,001,309	$ (100,136)	$ (263)	(19)	(587,116)	$ 54,210
Beginning balance, treasury stock (in shares) at Mar. 31, 2021						260,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)			315,000
Issuance of common stock upon exercise of stock options	7,614			7,614
Issuance of common stock for vested restricted stock units (in shares)			804,000
Issuance of common stock for vested restricted stock units	0		$ 1	(1)
Issuance of common stock related to employee stock purchase plan (in shares)			100,000
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)			401,000
Issuance of common stock related to acquisition of business	13,487		$ 0	13,487
Stock-based compensation expense	80,673			80,673
Other comprehensive loss, net	(1,189)						(1,189)
Net loss attributable to New Relic	(132,183)							(132,183)
Ending balance (in shares) at Sep. 30, 2021			65,639,000
Ending balance, treasury stock (in shares) at Sep. 30, 2021						260,000
Ending balance at Sep. 30, 2021	341,868		$ 65	1,008,363		$ (263)	(1,208)	(665,089)
Beginning balance (in shares) at Jun. 30, 2021			64,966,000
Beginning balance at Jun. 30, 2021	350,143		$ 64	962,512		$ (263)	(850)	(611,320)
Beginning balance, treasury stock (in shares) at Jun. 30, 2021						260,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)			123,000
Issuance of common stock upon exercise of stock options	2,782			2,782
Issuance of common stock for vested restricted stock units (in shares)			450,000
Issuance of common stock related to employee stock purchase plan (in shares)			100,000
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)			0
Issuance of common stock related to acquisition of business	0		$ 0	0
Stock-based compensation expense	37,653			37,653
Other comprehensive loss, net	(358)						(358)
Net loss attributable to New Relic	(53,769)							(53,769)
Ending balance (in shares) at Sep. 30, 2021			65,639,000
Ending balance, treasury stock (in shares) at Sep. 30, 2021						260,000
Ending balance at Sep. 30, 2021	$ 341,868		$ 65	1,008,363		$ (263)	(1,208)	(665,089)
Beginning balance (in shares) at Mar. 31, 2022	66,988,000		66,988,000
Beginning balance at Mar. 31, 2022	$ 322,704		$ 66	1,114,221		$ (263)	(8,012)	(783,308)
Beginning balance, treasury stock (in shares) at Mar. 31, 2022	260,000					260,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)	269,000		269,000
Issuance of common stock upon exercise of stock options	$ 6,502		$ 0	6,502
Issuance of common stock for vested restricted stock units (in shares)			938,000
Issuance of common stock for vested restricted stock units	0		$ 2	(2)
Issuance of common stock related to employee stock purchase plan (in shares)			103,000
Issuance of common stock related to employee stock purchase plan	6,062			6,062
Issuance of common stock related to acquisition of business (in shares)			270,000
Issuance of common stock related to acquisition of business	12,112			12,112
Stock-based compensation expense	76,420			76,420
Other comprehensive loss, net	(3,821)						(3,821)
Net loss attributable to New Relic	$ (97,014)							(97,014)
Ending balance (in shares) at Sep. 30, 2022	68,568,000		68,568,000
Ending balance, treasury stock (in shares) at Sep. 30, 2022	260,000					260,000
Ending balance at Sep. 30, 2022	$ 322,965		$ 68	1,215,315		$ (263)	(11,833)	(880,322)
Beginning balance (in shares) at Jun. 30, 2022			67,542,000
Beginning balance at Jun. 30, 2022	308,922		$ 67	1,152,613		$ (263)	(9,948)	(833,547)
Beginning balance, treasury stock (in shares) at Jun. 30, 2022						260,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)			173,000
Issuance of common stock upon exercise of stock options	4,777		$ 0	4,777
Issuance of common stock for vested restricted stock units (in shares)			480,000
Issuance of common stock for vested restricted stock units			$ 1	(1)
Issuance of common stock related to employee stock purchase plan (in shares)			103,000
Issuance of common stock related to employee stock purchase plan	6,062			6,062
Issuance of common stock related to acquisition of business (in shares)			270,000
Issuance of common stock related to acquisition of business	12,112			12,112
Stock-based compensation expense	39,752			39,752
Other comprehensive loss, net	(1,885)						(1,885)
Net loss attributable to New Relic	$ (46,775)							(46,775)
Ending balance (in shares) at Sep. 30, 2022	68,568,000		68,568,000
Ending balance, treasury stock (in shares) at Sep. 30, 2022	260,000					260,000
Ending balance at Sep. 30, 2022	$ 322,965		$ 68	$ 1,215,315		$ (263)	$ (11,833)	$ (880,322)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net loss attributable to New Relic	$ (97,014)	$ (132,183)
Net loss and adjustment attributable to redeemable non-controlling interest (Note 3)	(2,744)	10,054
Net loss	(99,758)	(122,129)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	34,298	45,426
Stock-based compensation expense	74,734	79,758
Amortization of debt discount and issuance costs	1,188	1,176
Loss on facilities exit	2,717	0
Other	(588)	(124)
Changes in operating assets and liabilities, net of acquisition of business:
Accounts receivable, net	113,570	70,924
Prepaid expenses and other assets	2,075	(2,362)
Deferred contract acquisition costs	(3,489)	(758)
Lease right-of-use assets	5,411	5,077
Accounts payable	1,544	15,191
Accrued compensation and benefits and other liabilities	(5,519)	(12,111)
Lease liabilities	(7,045)	(4,177)
Deferred revenue	(113,575)	(103,022)
Net cash provided by (used in) operating activities	5,563	(27,131)
Cash flows from investing activities:
Purchases of property and equipment	(2,416)	(2,826)
Proceeds from sale of property and equipment	1,724	0
Cash paid for acquisition, net of cash acquired	(257)	(7,192)
Purchases of short-term investments	(50,373)	(134,350)
Proceeds from sale and maturity of short-term investments	243,475	155,613
Capitalized software development costs	(7,907)	(6,047)
Net cash provided by investing activities	184,246	5,198
Cash flows from financing activities:
Proceeds from employee stock purchase plan	6,062	5,417
Proceeds from exercise of employee stock options	6,502	7,614
Net cash provided by financing activities	12,564	13,031
Net increase (decrease) in cash, cash equivalents and restricted cash	202,373	(8,902)
Cash, cash equivalents and restricted cash at beginning of period	274,470	246,463
Cash, cash equivalents and restricted cash at end of period	476,843	237,561
Reconciliation of cash, cash equivalents and restricted cash to condensed consolidated balance sheets:
Cash and cash equivalents	471,064	231,918
Restricted cash	5,779	5,643
Total cash, cash equivalents and restricted cash	476,843	237,561
Supplemental disclosure of cash flow information:
Cash paid for interest and income taxes	2,196	131
Property and equipment purchased but not yet paid	93	77
Issuance of common stock for the acquisition of business	12,112	13,487
Acquisition holdback	$ 3,300	$ 7,250

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	6 Months Ended
	Sep. 30, 2022
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 New Relic platform 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, 2022, as filed with the SEC on May 17, 2022 (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, 2023. The condensed consolidated balance sheet as of March 31, 2022 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. 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. Concentration of Risk —There was no customer that represented more than 10% of the Company’s accounts receivable balance as of September 30, 2022 or March 31, 2022. There was no customer that individually exceeded 10% of the Company’s revenue during the three or six months ended September 30, 2022 or 2021. 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 typically sells (1) a subscription agreement for a committed contractual amount that is apportioned ratably on a monthly basis over the term of the subscription period, which may or may not include a usage overage component, (2) a subscription agreement for a committed contractual amount where usage is drawn down as utilized, and (3) a usage-based arrangement that is billed based on usage (“Pay as You Go”). 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. Depending on the nature of the contract, revenue from subscription-based arrangements is recognized on a ratable basis over the contractual subscription period of the arrangement or recognized as usage is incurred. Usage above the commitment is either recognized as incurred or as an estimate of usage above the minimum commitment. Usage above the minimum commitment is estimated by looking at usage in previous months and other factors and projecting out for the rest of the contract. 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 October 2021, the Financial Accounting Standards Board (“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 April 1, 2023, including interim periods within those fiscal years. The Company is currently evaluating the impact of adopting this guidance. Recently Adopted Accounting Pronouncements 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. The Company adopted this new standard on April 1, 2022. The adoption of this standard did not have an impact on its condensed consolidated financial statements.

Business Combinations

Business Combinations	6 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Business Combinations	Business Combinations K2 Cyber Security Inc. On September 14, 2022, the Company acquired all of the equity interests in K2 Cyber Security Inc. (“K2”), a company that provides a differentiated, signatureless approach to vulnerability and hack detection. The aggregate purchase price of $16.6 million consisted of approximately (i) $4.5 million in cash (of which t he Company held back approximately $3.3 million for 18 months after the transaction closing date for indemnification purposes, which has been accrued as a long-term liability ) and (ii) 202,752 shares of the Company’s common stock with an aggregate fair value of approximately $12.1 million, after taking into account the holdback arrangement with the K2 founders, as described below. The fair value of the consideration transferred was determined based on a $59.74 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 and net assets assumed. Deferred tax related to the developed technology was deemed immaterial. The excess purchase price was recorded as goodwill, as set forth below. Goodwill generated from the acquisition is attributable to expected synergies from future growth and is not deductible for tax purposes. The following table presents the preliminary purchase price allocation related to the acquisition (in thousands): Cash consideration $ 4,497 Fair value of common shares $ 16,132 Total consideration $ 20,629 Post-business combination compensation expense $ (4,019) Total purchase price $ 16,610 Net assets assumed $ (589) Developed technology acquired $ (7,400) Goodwill $ 8,621 The acquisition has been accounted for as a business combination in accordance with ASC 805. The estimated fair value of developed technology acquired of $7.4 million was determined through the use of a third-party valuation firm using cost approach methodology. The direct transaction costs of the acquisition have been accounted for separately from the business combination and expensed as incurred. Total direct transaction costs incurred by the Company were $0.9 million, which were included in general and administrative expenses in the Company’s condensed consolidated statement of operations for the three months ended September 30, 2022 . The Compa ny paid approximately $0.6 million in acq uisition-related expenses incurred by K2 for its advisors which were included as part of the purchase consideration. The business combination did not have a material impact on the condensed consolidated financial statements and therefore historical and pro forma disclosures have not been presented. The acquisition also included a holdback arrangement with the two founders of K2, totaling approximately 67,278 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 $4.0 million and was excluded from the aggregate purchase price. These awards will be recognized as stock-based compensation expenses over the vesting period, which is 24 and 36 months for the two founders, respectively. 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 are being recognized as stock-based compensation expense over the vesting period, which is 42 months.

Joint Venture

Joint Venture	6 Months Ended
	Sep. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Joint Venture	Joint VentureOn 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 September 30, 2022, 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 September 30, 2022, 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 $2.7 million at September 30, 2022. The following table summarizes the activity in the redeemable non-controlling interest for the periods indicated below (in thousands): Six Months Ended September 30, 2022 2021 Balance, beginning of period $ 21,686 $ 3,389 Net loss attributable to redeemable non-controlling interest (74) (181) Adjustment to redeemable non-controlling interest (2,670) 10,235 Balance, end of period $ 18,942 $ 13,443

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Sep. 30, 2022
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 September 30, 2022 and March 31, 2022 based on the three-tier fair value hierarchy (in thousands): Fair Value Measurements as of September 30, 2022 Level 1 Level 2 Level 3 Total Cash and cash equivalents: Money market funds $ 375,809 $ — $ — $ 375,809 Short-term investments: Certificates of deposit — 51,646 — 51,646 Commercial paper — 2,926 — 2,926 Corporate notes and bonds — 82,735 — 82,735 U.S. treasury securities 224,957 — — 224,957 Restricted cash: Money market funds 5,779 — — 5,779 Total $ 606,545 $ 137,307 $ — $ 743,852 Included in cash and cash equivalents $ 375,809 Included in short-term investments $ 362,264 Included in restricted cash $ 5,779 Fair Value Measurements as of March 31, 2022 Level 1 Level 2 Level 3 Total Cash and cash equivalents: Money market funds $ 109,327 $ — $ — $ 109,327 Short-term investments: Certificates of deposit — 126,885 — 126,885 Commercial paper — 27,861 — 27,861 Corporate notes and bonds — 85,065 — 85,065 U.S. treasury securities 320,173 — — 320,173 Restricted cash: Money market funds 5,775 — — 5,775 Total $ 435,275 $ 239,811 $ — $ 675,086 Included in cash and cash equivalents $ 109,327 Included in short-term investments $ 559,984 Included in restricted cash $ 5,775 There were no transfers between fair value measurement levels during the six months ended September 30, 2022 and 2021. 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 September 30, 2022 (in thousands): Available-for-sale Investments as of September 30, 2022 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Short-term investments: Certificates of deposit $ 52,000 $ — $ (354) $ 51,646 Commercial paper 2,953 — (27) 2,926 Corporate notes and bonds 86,193 — (3,458) 82,735 U.S. treasury securities 231,243 — (6,286) 224,957 Total available-for-sale investments $ 372,389 $ — $ (10,125) $ 362,264 The following table presents the Company’s available-for-sale securities as of March 31, 2022 (in thousands): Available-for-sale Investments as of March 31, 2022 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Short-term investments: Certificates of deposit $ 127,500 $ — $ (615) $ 126,885 Commercial paper 27,946 — (85) 27,861 Corporate notes and bonds 87,259 — (2,194) 85,065 U.S. treasury securities 323,584 79 (3,490) 320,173 Total available-for-sale investments $ 566,289 $ 79 $ (6,384) $ 559,984 As of September 30, 2022 and March 31, 2022, securities that were in an unrealized loss position for more than 12 months were $5.3 million and $1.3 million, respectively. The unrealized losses were caused by changes in market interest rates or the widening of market spreads subsequent to the initial purchase of these securities, and not related to the underlying credit of the issuers or the underlying collateral. The unrealized losses on these investments are not considered other-than-temporary impairment, because the decline in fair value is not attributable to credit quality and because the Company does not intend, and it is not likely that it will be required, to sell these securities before recovery of their amortized cost basis. As a result, the Company did not consider any available-for-sale securities to be impaired as of September 30, 2022 and March 31, 2022. The following table classifies the Company’s available-for-sale short-term investments by contractual maturities as of September 30, 2022 and March 31, 2022 (in thousands): September 30, 2022 March 31, 2022 Due within one year $ 230,113 $ 354,774 Due after one year and within three years 132,151 205,210 Total $ 362,264 $ 559,984 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 September 30, 2022, the fair value of the Notes was $443.5 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	6 Months Ended
	Sep. 30, 2022
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 $24.3 million and $34.5 million as of September 30, 2022 and March 31, 2022, respectively. In the three months ended September 30, 2022 and 2021, amortization from amounts capitalized was $6.5 million and $9.6 million, respectively. In the six months ended September 30, 2022 and 2021, amortization from amounts capitalized was $13.7 million and $19.8 million, respectively. In the three months ended September 30, 2022 and 2021, amounts expensed as incurred were $14.0 million and $15.4 million, respectively. In the six months ended September 30, 2022 and 2021, amounts expensed as incurred were $28.5 million and $29.5 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 September 30, 2022. 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 $4.2 million and $1.5 million as of September 30, 2022 and March 31, 2022, respectively. 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 September 30, Six Months Ended September 30, 2022 2021 2022 2021 Deferred revenue, beginning of period $ 332,956 $ 317,502 $ 398,862 $ 375,268 Contributions from contract asset 565 99 1,699 1,640 Billings 178,677 150,339 328,096 271,516 Revenue recognized (226,912) (195,694) (443,371) (376,178) Deferred revenue, end of period $ 285,286 $ 272,246 $ 285,286 $ 272,246 For the three and six months ended September 30, 2022 and 2021, the majority of revenue recognized was from the deferred revenue balances at the beginning of each period. For the three and six months ended September 30, 2022, the Company recognized $7.9 million and $9.8 million, respectively, in revenue from performance obligations satisfied in prior periods. For the three and six months ended September 30, 2021, the Company recognized $9.7 million and $7.9 million, respectively, in revenue from performance obligations satisfied in prior periods. The aggregate unrecognized transaction price of remaining performance obligations as of September 30, 2022 and 2021 was $602.3 million and $597.2 million, respectively. The Company expects to recognize more than 95% of the balance as revenue in the 24 months following September 30, 2022 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	6 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment, net, consisted of the following (in thousands): September 30, 2022 March 31, 2022 Computers, software, and equipment $ 14,825 $ 13,854 Site operation equipment 58,310 67,726 Furniture and fixtures 5,082 5,772 Leasehold improvements 38,958 49,756 Capitalized software development costs 87,386 79,808 Total property and equipment 204,561 216,916 Less: accumulated depreciation and amortization (142,378) (148,548) Total property and equipment, net $ 62,183 $ 68,368 Depreciation and amortization expense related to property and equipment was $7.3 million and $10.8 million for the three months ended September 30, 2022 and 2021, respectively, and $15.2 million and $21.6 million for the six months ended September 30, 2022 and 2021, respectively.

0.5% Convertible Senior Notes a

0.5% Convertible Senior Notes and Capped Call	6 Months Ended
	Sep. 30, 2022
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 six months ended September 30, 2022, the conditions allowing holders of the Notes to convert have not been met. The Notes were 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. The default settlement method, which is cash up to the principal amount of the Notes and shares for any excess conversion value, will apply to any such conversions after November 1, 2022, and the Company currently intends to satisfy its conversion obligation with the holders of the Notes in cash. 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 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 Notes became current and were reclassified to short-term effective in the first quarter of fiscal year 2023. For the three months ended September 30, 2022, the effective interest rate for the Notes was 0.98%. The net carrying amount of the liability component of the Notes was as follows (in thousands): September 30, 2022 March 31, 2022 Principal $ 500,250 $ 500,250 Unamortized issuance costs (1,399) (2,587) Net carrying amount $ 498,851 $ 497,663 Interest expense related to the Notes was as follows (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 Amortization of issuance costs $ 595 $ 589 1,188 1,176 Contractual interest expense 623 623 1,247 1,248 Total interest expense $ 1,218 $ 1,212 $ 2,435 $ 2,424

Goodwill and Purchased Intangib

Goodwill and Purchased Intangibles Assets	6 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Purchased Intangibles Assets	Goodwill and Purchased Intangibles Assets In September 2022, the Company acquired all of the equity interests in K2. As of the closing of the acquisition, t he estimated fair value of the acquired developed technology and goodwill was $7.4 million and $8.6 million, respectively. Refer to Note 2 — Business Combinations for more information. The changes in the carrying amount of goodwill for the six months ended September 30, 2022 consisted of the following (in thousands): Goodwill as of March 31, 2022 $ 163,677 Goodwill acquired 8,621 Goodwill as of September 30, 2022 $ 172,298 Purchased intangible assets subject to amortization as of September 30, 2022 consisted of the following (in thousands): Gross Carrying Accumulated Net Carrying Developed technology $ 34,900 $ (16,447) $ 18,453 Purchased intangible assets subject to amortization as of March 31, 2022 consisted of the following (in thousands): Gross Carrying Accumulated Net Carrying Developed technology $ 27,500 $ (11,864) $ 15,636 Amortization expense of purchased intangible assets was $2.3 million and $1.7 million for the three months ended September 30, 2022 and 2021, respectively, and $4.6 million and $3.4 million for the six months ended September 30, 2022 and 2021, respectively, and is included in cost of revenue on the Company’s condensed consolidated statements of operations. Estimated future amortization expense as of September 30, 2022 was as follows (in thousands): Fiscal Years Ending March 31, Estimated Future Amortization Expense 2023 (remaining six months) $ 5,650 2024 7,100 2025 4,470 Thereafter 1,233 $ 18,453

Leases

Leases	6 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Leases	Leases The Company leases office space under non-cancelable operating leases, which expire from 2023 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. In the second quarter of fiscal 2023, the Company evaluated its real estate portfolio and decided to abandon certain office space leases. For the three months ended September 30, 2022, the Company recorded a $1.5 million cost associated with leasehold improvement write-offs and $1.2 million of acceleration of right-of-use assets. The following table presents information about leases on the condensed consolidated balance sheet (in thousands): September 30, 2022 March 31, 2022 Assets Lease right-of-use-assets $ 44,599 $ 50,465 Liabilities Lease liabilities $ 11,025 $ 11,103 Lease liabilities, non-current 42,842 49,809 Total operating lease liabilities $ 53,867 $ 60,912 As of September 30, 2022, the weighted average remaining lease term was 4.9 years and the weighted average discount rate was 6.9%. The following table presents information about leases on its condensed consolidated statement of operations (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 Operating lease expense $ 3,360 $ 3,481 $ 6,873 $ 6,954 Short-term lease expense 205 153 451 303 Variable lease expense 854 731 1,498 1,363 The following table presents supplemental cash flow information about the Company’s leases (in thousands): Six Months Ended September 30, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities $ 7,359 $ 7,567 Operating lease assets obtained in exchange for new lease liabilities (1) 245 319 (1) Includes the impact of new leases as well as remeasurements and modifications to existing leases. As of September 30, 2022, remaining maturities of lease liabilities were as follows (in thousands): Fiscal Years Ending March 31, Operating Leases 2023 (remaining six months) $ 7,012 2024 13,658 2025 11,315 2026 11,528 2027 12,081 2028 6,185 Thereafter 2,014 Total operating lease payments $ 63,793 Less imputed interest (9,926) Total operating lease liabilities $ 53,867

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase Commitments —As of September 30, 2022 and March 31, 2022, the Company had purchase commitments of $567.4 million and $549.4 million, respectively, primarily related to data center, cloud and hosting services. 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	6 Months Ended
	Sep. 30, 2022
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 six months ended September 30, 2022, 102,750 shares of common stock were purchased under the ESPP. For the six months ended September 30, 2021, 100,309 shares of common stock were purchased under the ESPP. Stock-based compensation expense recognized related to the ESPP was $1.5 million and $1.0 million for the three months ended September 30, 2022 and 2021, respectively, and $2.8 million and $1.9 million for the six months ended September 30, 2022 and 2021, respectively. As of September 30, 2022, 3,384,792 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 September 30, 2022, there were 15,400,450 shares available for issuance under the 2014 Plan. The following table summarizes the Company’s stock option, restricted stock unit (“RSU”), and performance-based restricted stock unit (“PSU”) award activities for the six months ended September 30, 2022 (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, 2022 1,663 $ 54.66 5.6 $ 31,436 3,351 $ 70.04 2.6 $ 224,096 320 $ 86.88 1.8 $ 21,430 Granted — — 2,329 49.54 240 69.26 Exercised/vested (269) 24.16 9,849 (808) 66.69 (130) 89.05 Canceled/forfeited (73) 68.02 (653) 61.96 (3) 99.05 Outstanding - September 30, 2022 1,321 $ 60.13 5.5 $ 13,040 4,219 $ 60.61 2.5 $ 242,068 427 $ 76.23 2.0 $ 24,530 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. The PSUs presented in the table above were calculated based on 100% expected achievement. Stock-Based Compensation Expense —Stock-based compensation expense for employees and nonemployees was $39.9 million and $37.6 million for the three months ended September 30, 2022 and 2021, respectively, and $74.7 million and $79.8 million for the six months ended September 30, 2022 and 2021, respectively. Cost of revenue, research and development, sales and marketing, and general and administrative expenses were as follows (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 Cost of revenue $ 1,533 $ 1,303 $ 2,877 $ 2,375 Research and development 14,442 12,147 27,728 23,111 Sales and marketing 12,874 13,548 23,457 25,082 General and administrative (1) 11,003 10,573 20,672 29,190 Total stock-based compensation expense (2) $ 39,852 $ 37,571 $ 74,734 $ 79,758 (1) Includes $9.6 million acceleration of share-based payment expense for the six months ended September 30, 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 six months ended September 30, 2022. (2) Includes $0.5 million stock-based compensation expense for the six months ended September 30, 2021, due to the restructuring activities commenced in the first quarter of fiscal 2022. There was no corresponding expense for the six months ended September 30, 2022. Refer to Note 16 — Restructuring for more information. As of September 30, 2022, unrecognized stock-based compensation cost related to outstanding unvested stock options was $5.6 million, which is expected to be recognized over a weighted-average period of approximately 1.3 years. As of September 30, 2022, unrecognized stock-based compensation cost related to outstanding unvested RSUs was $268.0 million, which is expected to be recognized over a weighted-average period of approximately 2.4 years. As of September 30, 2022, unrecognized stock-based compensation cost related to PSUs was $20.0 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	6 Months Ended
	Sep. 30, 2022
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 $24.3 million and $34.5 million as of September 30, 2022 and March 31, 2022, respectively. In the three months ended September 30, 2022 and 2021, amortization from amounts capitalized was $6.5 million and $9.6 million, respectively. In the six months ended September 30, 2022 and 2021, amortization from amounts capitalized was $13.7 million and $19.8 million, respectively. In the three months ended September 30, 2022 and 2021, amounts expensed as incurred were $14.0 million and $15.4 million, respectively. In the six months ended September 30, 2022 and 2021, amounts expensed as incurred were $28.5 million and $29.5 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 September 30, 2022. 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 $4.2 million and $1.5 million as of September 30, 2022 and March 31, 2022, respectively. 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 September 30, Six Months Ended September 30, 2022 2021 2022 2021 Deferred revenue, beginning of period $ 332,956 $ 317,502 $ 398,862 $ 375,268 Contributions from contract asset 565 99 1,699 1,640 Billings 178,677 150,339 328,096 271,516 Revenue recognized (226,912) (195,694) (443,371) (376,178) Deferred revenue, end of period $ 285,286 $ 272,246 $ 285,286 $ 272,246 For the three and six months ended September 30, 2022 and 2021, the majority of revenue recognized was from the deferred revenue balances at the beginning of each period. For the three and six months ended September 30, 2022, the Company recognized $7.9 million and $9.8 million, respectively, in revenue from performance obligations satisfied in prior periods. For the three and six months ended September 30, 2021, the Company recognized $9.7 million and $7.9 million, respectively, in revenue from performance obligations satisfied in prior periods. The aggregate unrecognized transaction price of remaining performance obligations as of September 30, 2022 and 2021 was $602.3 million and $597.2 million, respectively. The Company expects to recognize more than 95% of the balance as revenue in the 24 months following September 30, 2022 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	6 Months Ended
	Sep. 30, 2022
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 indefinitely reinvested. The Company recorded income tax benefit of $0.4 million and income tax expense of $0.5 million for the three months ended September 30, 2022 and 2021, respectively. The Company recorded income tax benefit of $0.1 million and income tax expense of $0.1 million for the six months ended September 30, 2022 and 2021, respectively. The income tax benefit for the three and six months ended September 30, 2022 is primarily related to tax benefit from foreign R&D credits, partially offset by foreign and U.S. state taxes. The income tax expense for the six months ended September 30, 2021 is impacted by a partial release of valuation allowance from the acquisition of CodeStream. Based on the available evidence during the three and six months ended September 30, 2022, the Company believes it is not more-likely-than-not to realize tax benefits of U.S. and Japan losses incurred during the three and six months ended September 30, 2022. 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 and foreign tax rate differences.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Sep. 30, 2022
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 six months ended September 30, 2022 and 2021, 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 September 30, 2022. The following table sets forth the computation of net loss per share, basic and diluted (in thousands, except per share amounts): Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 Numerator: Net loss attributable to New Relic $ (46,775) $ (53,769) $ (97,014) $ (132,183) Denominator: Weighted average shares used to compute net loss per share, basic and diluted 67,207 64,277 66,816 63,811 Net loss attributable to New Relic per share—basic and diluted $ (0.70) $ (0.84) $ (1.45) $ (2.07) 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 September 30, 2022 2021 Options to purchase common stock 1,321 2,243 RSUs 4,219 3,881 PSUs 427 320 ESPP shares 55 43 6,022 6,487

Revenue by Geographic Location

Revenue by Geographic Location	6 Months Ended
	Sep. 30, 2022
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 September 30, Six Months Ended September 30, 2022 2021 2022 2021 United States $ 147,713 $ 133,405 $ 291,173 $ 256,440 EMEA 38,296 30,041 73,012 58,206 APAC 24,528 19,305 47,654 36,498 Other 16,375 12,943 31,532 25,034 Total revenue $ 226,912 $ 195,694 $ 443,371 $ 376,178 Substantially all of the Company’s long-lived assets were attributable to operations in the United States as of September 30, 2022 and March 31, 2022.

Restructuring

Restructuring	6 Months Ended
	Sep. 30, 2022
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring On August 17, 2022, the Company announced the adoption of a new restructuring plan to better align the Company’s organizational structure and operations with its strategic initiatives, resulting in a global workforce reduction and other cost saving initiatives. For the three months ended September 30, 2022, the Company recorded restructuring costs of approximately $7.2 million, comprised of $7.1 million in employee wages and termination benefits and $0.1 million associated with certain asset impairments directly attributable to the restructuring activities. The restructuring plan is expected to be substantially complete by the second quarter of fiscal 2023. There were no restructuring charges incurred for the three months ended September 30, 2021. For the six months ended September 30, 2021, the Company recorded restructuring costs of approximately $12.8 million, comprised of $12.6 million in employee wages and termination benefits, inclusive of $0.5 million in stock-based compensation and $0.1 million associated with certain asset impairments directly attributable to the restructuring activities. The fiscal 2021 restructuring plan was substantially complete by the first quarter of fiscal 2022. The following table shows the Company’s restructuring charges for the six months ended September 30, 2022 and 2021 (in thousands): Six Months Ended September 30, 2022 2021 Severance and other employee costs Asset impairment Total Severance and other employee costs Stock-based compensation Asset impairment Total Cost of Revenue $ 404 $ 3 $ 407 $ — $ — $ — $ — Research and Development 1,414 21 1,435 — — — — Sales and Marketing 3,725 33 3,758 10,962 406 104 11,472 General and administrative 1,592 18 1,610 1,178 87 26 1,291 Total $ 7,135 $ 75 $ 7,210 $ 12,140 $ 493 $ 130 $ 12,763

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Sep. 30, 2022
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 New Relic platform 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, 2022, as filed with the SEC on May 17, 2022 (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, 2023. The condensed consolidated balance sheet as of March 31, 2022 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. COVID-19 —The COVID-19 pandemic has resulted in a global slowdown of economic activity that is expected to continue. 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.
Concentration of Risk	Concentration of Risk —There was no customer that represented more than 10% of the Company’s accounts receivable balance as of September 30, 2022 or March 31, 2022. There was no customer that individually exceeded 10% of the Company’s revenue during the three or six months ended September 30, 2022 or 2021.
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 typically sells (1) a subscription agreement for a committed contractual amount that is apportioned ratably on a monthly basis over the term of the subscription period, which may or may not include a usage overage component, (2) a subscription agreement for a committed contractual amount where usage is drawn down as utilized, and (3) a usage-based arrangement that is billed based on usage (“Pay as You Go”). 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. Depending on the nature of the contract, revenue from subscription-based arrangements is recognized on a ratable basis over the contractual subscription period of the arrangement or recognized as usage is incurred. Usage above the commitment is either recognized as incurred or as an estimate of usage above the minimum commitment. Usage above the minimum commitment is estimated by looking at usage in previous months and other factors and projecting out for the rest of the contract. 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 October 2021, the Financial Accounting Standards Board (“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 April 1, 2023, including interim periods within those fiscal years. The Company is currently evaluating the impact of adopting this guidance. Recently Adopted Accounting Pronouncements 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. The Company adopted this new standard on April 1, 2022. The adoption of this standard did not have an impact on its condensed consolidated financial statements.

Business Combinations (Tables)

Business Combinations (Tables)	6 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Aggregate Purchase Price Allocation	The following table presents the preliminary purchase price allocation related to the acquisition (in thousands): Cash consideration $ 4,497 Fair value of common shares $ 16,132 Total consideration $ 20,629 Post-business combination compensation expense $ (4,019) Total purchase price $ 16,610 Net assets assumed $ (589) Developed technology acquired $ (7,400) Goodwill $ 8,621

Joint Venture (Tables)

Joint Venture (Tables)	6 Months Ended
	Sep. 30, 2022
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 (in thousands): Six Months Ended September 30, 2022 2021 Balance, beginning of period $ 21,686 $ 3,389 Net loss attributable to redeemable non-controlling interest (74) (181) Adjustment to redeemable non-controlling interest (2,670) 10,235 Balance, end of period $ 18,942 $ 13,443

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Sep. 30, 2022
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 September 30, 2022 and March 31, 2022 based on the three-tier fair value hierarchy (in thousands): Fair Value Measurements as of September 30, 2022 Level 1 Level 2 Level 3 Total Cash and cash equivalents: Money market funds $ 375,809 $ — $ — $ 375,809 Short-term investments: Certificates of deposit — 51,646 — 51,646 Commercial paper — 2,926 — 2,926 Corporate notes and bonds — 82,735 — 82,735 U.S. treasury securities 224,957 — — 224,957 Restricted cash: Money market funds 5,779 — — 5,779 Total $ 606,545 $ 137,307 $ — $ 743,852 Included in cash and cash equivalents $ 375,809 Included in short-term investments $ 362,264 Included in restricted cash $ 5,779 Fair Value Measurements as of March 31, 2022 Level 1 Level 2 Level 3 Total Cash and cash equivalents: Money market funds $ 109,327 $ — $ — $ 109,327 Short-term investments: Certificates of deposit — 126,885 — 126,885 Commercial paper — 27,861 — 27,861 Corporate notes and bonds — 85,065 — 85,065 U.S. treasury securities 320,173 — — 320,173 Restricted cash: Money market funds 5,775 — — 5,775 Total $ 435,275 $ 239,811 $ — $ 675,086 Included in cash and cash equivalents $ 109,327 Included in short-term investments $ 559,984 Included in restricted cash $ 5,775
Available-for-sale securities	The following table presents the Company’s available-for-sale securities as of September 30, 2022 (in thousands): Available-for-sale Investments as of September 30, 2022 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Short-term investments: Certificates of deposit $ 52,000 $ — $ (354) $ 51,646 Commercial paper 2,953 — (27) 2,926 Corporate notes and bonds 86,193 — (3,458) 82,735 U.S. treasury securities 231,243 — (6,286) 224,957 Total available-for-sale investments $ 372,389 $ — $ (10,125) $ 362,264 The following table presents the Company’s available-for-sale securities as of March 31, 2022 (in thousands): Available-for-sale Investments as of March 31, 2022 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Short-term investments: Certificates of deposit $ 127,500 $ — $ (615) $ 126,885 Commercial paper 27,946 — (85) 27,861 Corporate notes and bonds 87,259 — (2,194) 85,065 U.S. treasury securities 323,584 79 (3,490) 320,173 Total available-for-sale investments $ 566,289 $ 79 $ (6,384) $ 559,984
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 September 30, 2022 and March 31, 2022 (in thousands): September 30, 2022 March 31, 2022 Due within one year $ 230,113 $ 354,774 Due after one year and within three years 132,151 205,210 Total $ 362,264 $ 559,984

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net, consisted of the following (in thousands): September 30, 2022 March 31, 2022 Computers, software, and equipment $ 14,825 $ 13,854 Site operation equipment 58,310 67,726 Furniture and fixtures 5,082 5,772 Leasehold improvements 38,958 49,756 Capitalized software development costs 87,386 79,808 Total property and equipment 204,561 216,916 Less: accumulated depreciation and amortization (142,378) (148,548) Total property and equipment, net $ 62,183 $ 68,368

0.5% Convertible Senior Notes_2

0.5% Convertible Senior Notes and Capped Call (Tables)	6 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Summary of Convertible Debt	The net carrying amount of the liability component of the Notes was as follows (in thousands): September 30, 2022 March 31, 2022 Principal $ 500,250 $ 500,250 Unamortized issuance costs (1,399) (2,587) Net carrying amount $ 498,851 $ 497,663
Summary of Interest Expense	Interest expense related to the Notes was as follows (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2022 2021 2022 2021 Amortization of issuance costs $ 595 $ 589 1,188 1,176 Contractual interest expense 623 623 1,247 1,248 Total interest expense $ 1,218 $ 1,212 $ 2,435 $ 2,424

Goodwill and Purchased Intang_2

Goodwill and Purchased Intangibles Assets (Tables)	6 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill for the six months ended September 30, 2022 consisted of the following (in thousands): Goodwill as of March 31, 2022 $ 163,677 Goodwill acquired 8,621 Goodwill as of September 30, 2022 $ 172,298
Schedule of Purchased Intangible Assets Subject to Amortization	Purchased intangible assets subject to amortization as of September 30, 2022 consisted of the following (in thousands): Gross Carrying Accumulated Net Carrying Developed technology $ 34,900 $ (16,447) $ 18,453 Purchased intangible assets subject to amortization as of March 31, 2022 consisted of the following (in thousands): Gross Carrying Accumulated Net Carrying Developed technology $ 27,500 $ (11,864) $ 15,636
Schedule of Estimated Future Amortization Expense	Estimated future amortization expense as of September 30, 2022 was as follows (in thousands): Fiscal Years Ending March 31, Estimated Future Amortization Expense 2023 (remaining six months) $ 5,650 2024 7,100 2025 4,470 Thereafter 1,233 $ 18,453

Leases (Tables)

Leases (Tables)	6 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Schedule of Condensed Consolidated Balance Sheet	The following table presents information about leases on the condensed consolidated balance sheet (in thousands): September 30, 2022 March 31, 2022 Assets Lease right-of-use-assets $ 44,599 $ 50,465 Liabilities Lease liabilities $ 11,025 $ 11,103 Lease liabilities, non-current 42,842 49,809 Total operating lease liabilities $ 53,867 $ 60,912
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 September 30, Six Months Ended September 30, 2022 2021 2022 2021 Operating lease expense $ 3,360 $ 3,481 $ 6,873 $ 6,954 Short-term lease expense 205 153 451 303 Variable lease expense 854 731 1,498 1,363 The following table presents supplemental cash flow information about the Company’s leases (in thousands): Six Months Ended September 30, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities $ 7,359 $ 7,567 Operating lease assets obtained in exchange for new lease liabilities (1) 245 319 (1) Includes the impact of new leases as well as remeasurements and modifications to existing leases.
Remaining Maturities of Lease Liabilities	As of September 30, 2022, remaining maturities of lease liabilities were as follows (in thousands): Fiscal Years Ending March 31, Operating Leases 2023 (remaining six months) $ 7,012 2024 13,658 2025 11,315 2026 11,528 2027 12,081 2028 6,185 Thereafter 2,014 Total operating lease payments $ 63,793 Less imputed interest (9,926) Total operating lease liabilities $ 53,867

Common Stock and Stockholders_2

Common Stock and Stockholders' Equity (Tables)	6 Months Ended
	Sep. 30, 2022
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-based restricted stock unit (“PSU”) award activities for the six months ended September 30, 2022 (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, 2022 1,663 $ 54.66 5.6 $ 31,436 3,351 $ 70.04 2.6 $ 224,096 320 $ 86.88 1.8 $ 21,430 Granted — — 2,329 49.54 240 69.26 Exercised/vested (269) 24.16 9,849 (808) 66.69 (130) 89.05 Canceled/forfeited (73) 68.02 (653) 61.96 (3) 99.05 Outstanding - September 30, 2022 1,321 $ 60.13 5.5 $ 13,040 4,219 $ 60.61 2.5 $ 242,068 427 $ 76.23 2.0 $ 24,530
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 September 30, Six Months Ended September 30, 2022 2021 2022 2021 Cost of revenue $ 1,533 $ 1,303 $ 2,877 $ 2,375 Research and development 14,442 12,147 27,728 23,111 Sales and marketing 12,874 13,548 23,457 25,082 General and administrative (1) 11,003 10,573 20,672 29,190 Total stock-based compensation expense (2) $ 39,852 $ 37,571 $ 74,734 $ 79,758 (1) Includes $9.6 million acceleration of share-based payment expense for the six months ended September 30, 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 six months ended September 30, 2022. (2) Includes $0.5 million stock-based compensation expense for the six months ended September 30, 2021, due to the restructuring activities commenced in the first quarter of fiscal 2022. There was no corresponding expense for the six months ended September 30, 2022. Refer to Note 16 — Restructuring for more information.

Accounts Receivable, Deferred_2

Accounts Receivable, Deferred Revenue and Performance Obligations (Tables)	6 Months Ended
	Sep. 30, 2022
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 September 30, Six Months Ended September 30, 2022 2021 2022 2021 Deferred revenue, beginning of period $ 332,956 $ 317,502 $ 398,862 $ 375,268 Contributions from contract asset 565 99 1,699 1,640 Billings 178,677 150,339 328,096 271,516 Revenue recognized (226,912) (195,694) (443,371) (376,178) Deferred revenue, end of period $ 285,286 $ 272,246 $ 285,286 $ 272,246

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Sep. 30, 2022
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 September 30, Six Months Ended September 30, 2022 2021 2022 2021 Numerator: Net loss attributable to New Relic $ (46,775) $ (53,769) $ (97,014) $ (132,183) Denominator: Weighted average shares used to compute net loss per share, basic and diluted 67,207 64,277 66,816 63,811 Net loss attributable to New Relic per share—basic and diluted $ (0.70) $ (0.84) $ (1.45) $ (2.07)
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 September 30, 2022 2021 Options to purchase common stock 1,321 2,243 RSUs 4,219 3,881 PSUs 427 320 ESPP shares 55 43 6,022 6,487

Revenue by Geographic Location

Revenue by Geographic Location (Tables)	6 Months Ended
	Sep. 30, 2022
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 September 30, Six Months Ended September 30, 2022 2021 2022 2021 United States $ 147,713 $ 133,405 $ 291,173 $ 256,440 EMEA 38,296 30,041 73,012 58,206 APAC 24,528 19,305 47,654 36,498 Other 16,375 12,943 31,532 25,034 Total revenue $ 226,912 $ 195,694 $ 443,371 $ 376,178

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Sep. 30, 2022
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Charges	The following table shows the Company’s restructuring charges for the six months ended September 30, 2022 and 2021 (in thousands): Six Months Ended September 30, 2022 2021 Severance and other employee costs Asset impairment Total Severance and other employee costs Stock-based compensation Asset impairment Total Cost of Revenue $ 404 $ 3 $ 407 $ — $ — $ — $ — Research and Development 1,414 21 1,435 — — — — Sales and Marketing 3,725 33 3,758 10,962 406 104 11,472 General and administrative 1,592 18 1,610 1,178 87 26 1,291 Total $ 7,135 $ 75 $ 7,210 $ 12,140 $ 493 $ 130 $ 12,763

Business Combinations - Narrati

Business Combinations - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended
	Sep. 14, 2022	Jun. 08, 2021	Sep. 30, 2022
K2 Cyber Security Inc.
Business Acquisition [Line Items]
Aggregate purchase price of acquisition	$ 16,610
Aggregate purchase price, cash paid	4,497
Cash held in escrow	$ 3,300
Held in escrow period	18 months
Number of shares issued to acquire capital stock (in shares)	202,752
Aggregate fair value of common stock	$ 12,100
Fair value of shares issued to acquire capital stock (in usd per share)	$ 59.74
Developed technology acquired	$ 7,400
Direct transaction costs incurred	4,019		$ 900
Acquisition-related expenses	$ 600
Holdback arrangement, common stock (in shares)	67,278
Amount excluded from aggregate purchase price, holdback arrangement	$ 4,000
K2 Cyber Security Inc. | Founder One
Business Acquisition [Line Items]
Vesting period	24 months
K2 Cyber Security Inc. | Founder Two
Business Acquisition [Line Items]
Vesting period	36 months
K2 Cyber Security Inc. | Technology
Business Acquisition [Line Items]
Acquired technology, estimated useful life	3 years
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)		202,561
Aggregate fair value of common stock		$ 13,500
Fair value of shares issued to acquire capital stock (in usd per share)		$ 66.58
Holdback arrangement, common stock (in 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

Business Combinations - Schedul

Business Combinations - Schedule of Aggregate Purchase Price Allocation (Details) - USD ($) $ in Thousands		3 Months Ended
	Sep. 14, 2022	Sep. 30, 2022	Mar. 31, 2022
Business Acquisition [Line Items]
Goodwill		$ 172,298	$ 163,677
K2 Cyber Security Inc.
Business Acquisition [Line Items]
Cash consideration	$ 4,497
Fair value of common shares	16,132
Total consideration	20,629
Post-business combination compensation expense	(4,019)	$ (900)
Total purchase price	16,610
Net assets assumed	(589)
Developed technology acquired	(7,400)
Goodwill	$ 8,621

Joint Venture - Narrative (Deta

Joint Venture - Narrative (Details) $ in Thousands, ¥ in Millions					6 Months Ended
	Aug. 21, 2019 USD ($)	Aug. 21, 2019 JPY (¥)	Aug. 21, 2018 USD ($)	Aug. 21, 2018 JPY (¥)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Aug. 21, 2019 JPY (¥)
Schedule of Equity Method Investments [Line Items]
Additional investor contribution	$ 1,500						¥ 156
Adjustment to redeemable non-controlling interest					$ (2,670)	$ 10,235
New Relic K.K
Schedule of Equity Method Investments [Line Items]
Ownership percentage, parent					60%
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%	40%

Joint Venture - Schedule of Red

Joint Venture - Schedule of Redeemable Non-Controlling Interest (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Increase (Decrease) in Temporary Equity [Roll Forward]
Balance, beginning of period	$ 21,686	$ 3,389
Net loss attributable to redeemable non-controlling interest	(74)	(181)
Adjustment to redeemable non-controlling interest	(2,670)	10,235
Balance, end of period	$ 18,942	$ 13,443

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	Sep. 30, 2022	Mar. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	$ 743,852	$ 675,086
Cash and cash equivalents:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	375,809	109,327
Short-term investments:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	362,264	559,984
Restricted cash:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	5,779	5,775
Money market funds | Cash and cash equivalents:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	375,809	109,327
Money market funds | Restricted cash:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	5,779	5,775
Certificates of deposit | Short-term investments:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	51,646	126,885
Commercial paper | Short-term investments:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	2,926	27,861
Corporate notes and bonds | Short-term investments:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	82,735	85,065
U.S. treasury securities | Short-term investments:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	224,957	320,173
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	606,545	435,275
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	375,809	109,327
Level 1 | Money market funds | Restricted cash:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	5,779	5,775
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	224,957	320,173
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	137,307	239,811
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	51,646	126,885
Level 2 | Commercial paper | Short-term investments:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value	2,926	27,861
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	82,735	85,065
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	Sep. 30, 2022	Mar. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 372,389	$ 566,289
Unrealized Gains	0	79
Unrealized Losses	(10,125)	(6,384)
Total	362,264	559,984
Certificates of deposit
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	52,000	127,500
Unrealized Gains	0	0
Unrealized Losses	(354)	(615)
Total	51,646	126,885
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,953	27,946
Unrealized Gains	0	0
Unrealized Losses	(27)	(85)
Total	2,926	27,861
Corporate notes and bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	86,193	87,259
Unrealized Gains	0	0
Unrealized Losses	(3,458)	(2,194)
Total	82,735	85,065
U.S. treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	231,243	323,584
Unrealized Gains	0	79
Unrealized Losses	(6,286)	(3,490)
Total	$ 224,957	$ 320,173

Fair Value Measurements - Class

Fair Value Measurements - Classification of available-for-sale short-term investments by contractual maturities (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Total	$ 362,264	$ 559,984
Short-term investments:
Debt Securities, Available-for-sale [Line Items]
Due within one year	230,113	354,774
Due after one year and within three years	132,151	205,210
Total	$ 362,264	$ 559,984

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Detail) - USD ($) $ in Millions	Sep. 30, 2022	Mar. 31, 2022
Debt Instrument [Line Items]
Unrealized loss position of securities for more than 12 months	$ 5.3	$ 1.3
Convertible Debt | Level 2 | Convertible Senior Notes Due 2023
Debt Instrument [Line Items]
Fair value of Notes	$ 443.5

Contract Acquisition Costs (Det

Contract Acquisition Costs (Details) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Capitalized contract cost	$ 24,300,000		$ 24,300,000		$ 34,500,000
Capitalized contract cost, amortization	6,500,000	$ 9,600,000	13,700,000	$ 19,800,000
Costs expensed as incurred	14,000,000	15,400,000	28,500,000	29,500,000
Contract asset impairment	$ 0	$ 0	$ 0	$ 0

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 204,561	$ 216,916
Less: accumulated depreciation and amortization	(142,378)	(148,548)
Total property and equipment, net	62,183	68,368
Computers, software, and equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	14,825	13,854
Site operation equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	58,310	67,726
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment	5,082	5,772
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	38,958	49,756
Capitalized software development costs
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 87,386	$ 79,808

Property and Equipment - Narrat

Property and Equipment - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 7.3	$ 10.8	$ 15.2	$ 21.6

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, 2018 USD ($) day $ / shares shares	Sep. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Apr. 01, 2021 USD ($)
Debt Instrument [Line Items]
Purchase of capped calls	$ 63,200,000
Decrease to the opening balance of accumulated deficit		$ (880,322,000)	$ (783,308,000)
Increase to the opening balance of Convertible senior notes		$ 0	497,663,000
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%
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%
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%	0.98%
Issuance costs	$ 11,600,000	$ 1,399,000	$ 2,587,000
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	Sep. 30, 2022	Mar. 31, 2022	May 31, 2018
Debt Instrument [Line Items]
Principal	$ 500,250	$ 500,250
Unamortized issuance costs	(1,399)	(2,587)	$ (11,600)
Net carrying amount	$ 498,851	$ 497,663

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		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Debt Instrument [Line Items]
Total interest expense			$ 2,435	$ 2,424
Convertible Senior Notes Due 2023
Debt Instrument [Line Items]
Amortization of issuance costs	$ 595	$ 589	1,188	1,176
Contractual interest expense	623	623	$ 1,247	$ 1,248
Total interest expense	$ 1,218	$ 1,212

Goodwill and Purchased Intang_3

Goodwill and Purchased Intangibles Assets - Narrative (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 14, 2022
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 2,300	$ 1,700	$ 4,600	$ 3,400
K2 Cyber Security Inc.
Acquired Finite-Lived Intangible Assets [Line Items]
Developed technology acquired					$ 7,400
Goodwill acquired					$ 8,600

Goodwill and Purchased Intang_4

Goodwill and Purchased Intangibles Assets - Schedule of Goodwill (Details) $ in Thousands	6 Months Ended
	Sep. 30, 2022 USD ($)
Goodwill [Roll Forward]
Goodwill as of March 31, 2022	$ 163,677
Goodwill acquired	8,621
Goodwill as of September 30, 2022	$ 172,298

Goodwill and Purchased Intang_5

Goodwill and Purchased Intangibles Assets - Schedule of Purchased Intangible Assets Subject to Amortization (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Acquired Finite-Lived Intangible Assets [Line Items]
Net Carrying Amount	$ 18,453	$ 15,636
Developed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	34,900	27,500
Accumulated Amortization	(16,447)	(11,864)
Net Carrying Amount	$ 18,453	$ 15,636

Goodwill and Purchased Intang_6

Goodwill and Purchased Intangibles Assets - Schedule of Estimated Future Amortization Expense (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2023 (remaining six months)	$ 5,650
2024	7,100
2025	4,470
Thereafter	1,233
Net Carrying Amount	$ 18,453	$ 15,636

Leases - Assets and Liabilities

Leases - Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Assets
Lease right-of-use assets	$ 44,599	$ 50,465
Liabilities
Lease liabilities	11,025	11,103
Lease liabilities, non-current	42,842	49,809
Total operating lease liabilities	$ 53,867	$ 60,912

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	3 Months Ended
	Sep. 30, 2022 USD ($)
Leases [Abstract]
Lease hold improvements write-off	$ 1.5
Acceleration of right of use assets	$ 1.2
Weighted average remaining lease term	4 years 10 months 24 days
Weighted average discount rate	6.90%

Leases - Expense (Details)

Leases - Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Leases [Abstract]
Operating lease expense	$ 3,360	$ 3,481	$ 6,873	$ 6,954
Short-term lease expense	205	153	451	303
Variable lease expense	$ 854	$ 731	$ 1,498	$ 1,363

Leases - Cash Flow Information

Leases - Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 7,359	$ 7,567
Operating lease assets obtained in exchange for new lease liabilities	$ 245	$ 319

Leases - Operating Lease Maturi

Leases - Operating Lease Maturity Schedule (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Leases [Abstract]
2023 (remaining six months)	$ 7,012
2024	13,658
2025	11,315
2026	11,528
2027	12,081
2028	6,185
Thereafter	2,014
Total operating lease payments	63,793
Less imputed interest	(9,926)
Total operating lease liabilities	$ 53,867	$ 60,912

Commitments and Contingencies (

Commitments and Contingencies (Detail) - USD ($) $ in Millions	Sep. 30, 2022	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Purchase commitments	$ 567.4	$ 549.4

Common Stock and Stockholders_3

Common Stock and Stockholders' Equity - Narrative (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Dec. 31, 2014	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Class of Stock [Line Items]
Stock-based compensation expense		$ 39,852	$ 37,571	$ 74,734	$ 79,758
Unrecognized stock-based compensation cost		5,600		$ 5,600
Stock-based compensation cost expected to be recognized over weighted-average period				1 year 3 months 18 days
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		20,000		$ 20,000
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%
PSUs | Maximum
Class of Stock [Line Items]
Percentage of total shareholder return				200%
RSUs
Class of Stock [Line Items]
Stock-based compensation cost expected to be recognized over weighted-average period				2 years 4 months 24 days
Unrecognized stock-based compensation cost related to outstanding unvested stock awards		$ 268,000		$ 268,000
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%
Shares purchased under plan (in shares)		102,750			100,309
Stock-based compensation expense		$ 1,500	$ 1,000	$ 2,800	$ 1,900
Shares available for issuance (in shares)		3,384,792		3,384,792
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)		15,400,450		15,400,450
Shares available for grant under plan (in shares)	5,184,878
Increase in shares available under plan, percentage of outstanding common stock shares	5%

Common Stock and Stockholders_4

Common Stock and Stockholders' Equity - Schedule of Stock Option, RSU, and PSU Award Activities (Detail) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Sep. 30, 2022 USD ($) $ / shares shares	Mar. 31, 2022 USD ($) $ / shares shares
Number of Shares
Beginning balance (in shares) | shares	1,663
Stock options granted (in shares) | shares	0
Stock options exercised (in shares) | shares	(269)
Stock options canceled/forfeited (in shares) | shares	(73)
Ending balance (in shares) | shares	1,321	1,663
Weighted- Average Exercise Price
Beginning balance (in usd per share) | $ / shares	$ 54.66
Stock options granted (in usd per share) | $ / shares	0
Stock options exercised (in usd per share) | $ / shares	24.16
Stock options canceled/forfeited (in usd per share) | $ / shares	68.02
Ending balance (in usd per share) | $ / shares	$ 60.13	$ 54.66
Weighted- Average Remaining Contractual Term (in years)
Weighted- Average Remaining Contractual Term (in years)	5 years 6 months	5 years 7 months 6 days
Aggregate Intrinsic Value
Beginning aggregate intrinsic value | $	$ 31,436
Stock options exercised | $	9,849
Ending aggregate intrinsic value | $	$ 13,040	$ 31,436
RSUs
Number of Shares
Beginning balance (in shares) | shares	3,351
RSUs and PSUs granted (in shares) | shares	2,329
RSUs and PSUs vested (in shares) | shares	(808)
RSUs and PSUs canceled/forfeited (in shares) | shares	(653)
Ending balance (in shares) | shares	4,219	3,351
Weighted- Average Grant Date Fair Value
Beginning balance (in usd per share) | $ / shares	$ 70.04
RSUs and PSUs granted (in usd per share) | $ / shares	49.54
RSUs and PSUs vested (in usd per share) | $ / shares	66.69
RSUs and PSUs canceled/forfeited (in usd per share) | $ / shares	61.96
Ending balance (in usd per share) | $ / shares	$ 60.61	$ 70.04
Weighted- Average Remaining Contractual Term (in years)
Weighted Average Remaining Contractual Terms (in years)	2 years 6 months	2 years 7 months 6 days
Aggregate Intrinsic Value
Aggregate intrinsic value, outstanding | $	$ 242,068	$ 224,096
PSUs
Number of Shares
Beginning balance (in shares) | shares	320
RSUs and PSUs granted (in shares) | shares	240
RSUs and PSUs vested (in shares) | shares	(130)
RSUs and PSUs canceled/forfeited (in shares) | shares	(3)
Ending balance (in shares) | shares	427	320
Weighted- Average Grant Date Fair Value
Beginning balance (in usd per share) | $ / shares	$ 86.88
RSUs and PSUs granted (in usd per share) | $ / shares	69.26
RSUs and PSUs vested (in usd per share) | $ / shares	89.05
RSUs and PSUs canceled/forfeited (in usd per share) | $ / shares	99.05
Ending balance (in usd per share) | $ / shares	$ 76.23	$ 86.88
Weighted- Average Remaining Contractual Term (in years)
Weighted Average Remaining Contractual Terms (in years)	2 years	1 year 9 months 18 days
Aggregate Intrinsic Value
Aggregate intrinsic value, outstanding | $	$ 24,530	$ 21,430

Common Stock and Stockholders_5

Common Stock and Stockholders' Equity - Summary of Stock-Based Compensation Expense (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 39,852,000	$ 37,571,000	$ 74,734,000	$ 79,758,000
Restructuring charges	7,200,000		7,210,000	12,763,000
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	1,533,000	1,303,000	2,877,000	2,375,000
Restructuring charges			407,000	0
Cost of revenue | Stock-based compensation
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Restructuring charges				0
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	14,442,000	12,147,000	27,728,000	23,111,000
Restructuring charges			1,435,000	0
Research and development | Stock-based compensation
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Restructuring charges				0
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	12,874,000	13,548,000	23,457,000	25,082,000
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 11,003,000	$ 10,573,000	20,672,000	29,190,000
Restructuring charges			$ 1,610,000	1,291,000
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	6 Months Ended	12 Months Ended
	Sep. 30, 2022	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Contract assets	$ 4.2	$ 1.5

Accounts Receivable, Deferred_4

Accounts Receivable, Deferred Revenue and Performance Obligations - Schedule of Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Contract With Customer, Liability [Roll Forward]
Deferred revenue, beginning of period	$ 332,956	$ 317,502	$ 398,862	$ 375,268
Contributions from contract asset	565	99	1,699	1,640
Billings	178,677	150,339	328,096	271,516
Revenue recognized	(226,912)	(195,694)	(443,371)	(376,178)
Deferred revenue, end of period	$ 285,286	$ 272,246	$ 285,286	$ 272,246

Accounts Receivable, Deferred_5

Accounts Receivable, Deferred Revenue and Performance Obligations - Performance Obligation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue from performance obligations satisfied in prior periods	$ 7.9	$ 9.7	$ 9.8	$ 7.9
Revenue, remaining performance obligation, amount	$ 602.3	$ 597.2	$ 602.3	$ 597.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	95%		95%
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%		3%
Revenue, remaining performance obligation, expected timing of satisfaction, period

Income Taxes (Detail)

Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income tax provision (benefit)	$ (381)	$ 506	$ (114)	$ 53

Net Loss Per Share - Narrative

Net Loss Per Share - Narrative (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
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)			6,022	6,487
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

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		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator:
Net loss attributable to New Relic	$ (46,775)	$ (53,769)	$ (97,014)	$ (132,183)
Denominator:
Weighted-average shares used to compute net loss per share, basic (in shares)	67,207	64,277	66,816	63,811
Weighted-average shares used to compute net loss per share, diluted (in shares)	67,207	64,277	66,816	63,811
Net loss attributable to New Relic per share, basic (in usd per share)	$ (0.70)	$ (0.84)	$ (1.45)	$ (2.07)
Net loss attributable to New Relic per share, diluted (in usd per share)	$ (0.70)	$ (0.84)	$ (1.45)	$ (2.07)

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	6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
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)	6,022	6,487
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)	55	43
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)	4,219	3,881
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)	427	320
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)	1,321	2,243

Revenue by Geographic Locatio_2

Revenue by Geographic Location - Schedule of Revenue by Geographic Areas (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Revenue	$ 226,912	$ 195,694	$ 443,371	$ 376,178
United States
Segment Reporting Information [Line Items]
Revenue	147,713	133,405	291,173	256,440
EMEA
Segment Reporting Information [Line Items]
Revenue	38,296	30,041	73,012	58,206
APAC
Segment Reporting Information [Line Items]
Revenue	24,528	19,305	47,654	36,498
Other
Segment Reporting Information [Line Items]
Revenue	$ 16,375	$ 12,943	$ 31,532	$ 25,034

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($)	3 Months Ended	6 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 7,200,000	$ 7,210,000	$ 12,763,000
Employee wages and termination benefits
Restructuring Cost and Reserve [Line Items]
Restructuring charges	7,100,000		12,600,000
Asset impairment
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 100,000	75,000	130,000
Stock-based compensation
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 0	$ 493,000

Restructuring - Schedule of Res

Restructuring - Schedule of Restructuring Charges (Details) - USD ($)	3 Months Ended	6 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 7,200,000	$ 7,210,000	$ 12,763,000
Cost of revenue
Restructuring Cost and Reserve [Line Items]
Restructuring charges		407,000	0
Research and development
Restructuring Cost and Reserve [Line Items]
Restructuring charges		1,435,000	0
Sales and Marketing
Restructuring Cost and Reserve [Line Items]
Restructuring charges		3,758,000	11,472,000
General and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring charges		1,610,000	1,291,000
Severance and other employee costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges		7,135,000	12,140,000
Severance and other employee costs | Cost of revenue
Restructuring Cost and Reserve [Line Items]
Restructuring charges		404,000	0
Severance and other employee costs | Research and development
Restructuring Cost and Reserve [Line Items]
Restructuring charges		1,414,000	0
Severance and other employee costs | Sales and Marketing
Restructuring Cost and Reserve [Line Items]
Restructuring charges		3,725,000	10,962,000
Severance and other employee costs | General and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring charges		1,592,000	1,178,000
Asset impairment
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 100,000	75,000	130,000
Asset impairment | Cost of revenue
Restructuring Cost and Reserve [Line Items]
Restructuring charges		3,000	0
Asset impairment | Research and development
Restructuring Cost and Reserve [Line Items]
Restructuring charges		21,000	0
Asset impairment | Sales and Marketing
Restructuring Cost and Reserve [Line Items]
Restructuring charges		33,000	104,000
Asset impairment | General and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring charges		18,000	26,000
Stock-based compensation
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 0	493,000
Stock-based compensation | Cost of revenue
Restructuring Cost and Reserve [Line Items]
Restructuring charges			0
Stock-based compensation | Research and development
Restructuring Cost and Reserve [Line Items]
Restructuring charges			0
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