Mimecast (MIME) 10-Q 3 Aug 20 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 30, 2020	Jul. 28, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Trading Symbol	MIME
Title of 12(b) Security	Ordinary Shares, nominal value $0.012 per share
Security Exchange Name	NASDAQ
Entity Registrant Name	MIMECAST LIMITED
Entity Central Index Key	0001644675
Current Fiscal Year End Date	--03-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		63,290,548
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity File Number	001-37637
Entity Incorporation, State or Country Code	Y9
Entity Tax Identification Number	00-0000000
Entity Address, Address Line One	1 Finsbury Avenue
Entity Address, City or Town	London
Entity Address, Country	GB
Entity Address, Postal Zip Code	EC2M 2PF
City Area Code	781
Local Phone Number	996-5340

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Current assets
Cash and cash equivalents	$ 198,541	$ 173,958
Accounts receivable, net	86,128	97,659
Deferred contract costs, net	12,002	11,133
Prepaid expenses and other current assets	16,658	16,145
Total current assets	313,329	298,895
Property and equipment, net	85,980	85,178
Operating lease right-of-use assets	111,176	116,564
Intangible assets, net	39,852	38,394
Goodwill	154,201	150,525
Deferred contract costs, net of current portion	38,624	36,664
Other assets	3,437	3,614
Total assets	746,599	729,834
Current liabilities
Accounts payable	12,113	14,907
Accrued expenses and other current liabilities	44,217	41,607
Deferred revenue	190,519	194,151
Current portion of finance lease obligations	984	1,058
Current portion of operating lease liabilities	30,318	30,379
Current portion of long-term debt	7,202	6,573
Total current liabilities	285,353	288,675
Deferred revenue, net of current portion	12,472	12,816
Long-term finance lease obligations	50	323
Operating lease liabilities	98,926	105,321
Long-term debt	84,456	86,258
Other non-current liabilities	7,023	4,386
Total liabilities	488,280	497,779
Commitments and contingencies (Note 13)
Shareholders' equity
Ordinary shares, $0.012 par value, 300,000,000 shares authorized; 63,269,191 and 62,791,691 shares issued and outstanding as of June 30, 2020 and March 31, 2020, respectively	759	754
Additional paid-in capital	345,029	325,808
Accumulated deficit	(80,522)	(83,660)
Accumulated other comprehensive loss	(6,947)	(10,847)
Total shareholders' equity	258,319	232,055
Total liabilities and shareholders' equity	$ 746,599	$ 729,834

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2020	Mar. 31, 2020
Statement Of Financial Position [Abstract]
Ordinary shares, par value	$ 0.012	$ 0.012
Ordinary shares, authorized	300,000,000	300,000,000
Ordinary shares, issued	63,269,191	62,791,691
Ordinary shares, outstanding	63,269,191	62,791,691

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Revenue	$ 115,176	$ 99,231
Cost of revenue	28,469	25,467
Gross profit	86,707	73,764
Operating expenses
Research and development	22,802	19,385
Sales and marketing	44,043	43,370
General and administrative	17,168	15,447
Total operating expenses	84,013	78,202
Income (loss) from operations	2,694	(4,438)
Other income (expense)
Interest income	177	982
Interest expense	(883)	(1,280)
Foreign exchange income and other, net	1,763	956
Total other income (expense), net	1,057	658
Income (loss) before income taxes	3,751	(3,780)
Provision for income taxes	613	230
Net income (loss)	$ 3,138	$ (4,010)
Net income (loss) per ordinary share
Basic	$ 0.05	$ (0.07)
Diluted	$ 0.05	$ (0.07)
Weighted-average number of ordinary shares outstanding
Basic	63,019	61,444
Diluted	64,676	61,444

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income Loss (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ 3,138	$ (4,010)
Other comprehensive income:
Net unrealized gains on investments, net of tax		30
Change in foreign currency translation adjustment	3,900	1,533
Total other comprehensive income	3,900	1,563
Comprehensive income (loss)	$ 7,038	$ (2,447)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment [Member]	Ordinary Shares [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Deficit [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]	Accumulated Other Comprehensive Loss [Member]
Beginning balance at Mar. 31, 2019	$ 173,635	$ 2,172	$ 734	$ 263,388	$ (83,632)	$ 2,172	$ (6,855)
Beginning balance, Shares at Mar. 31, 2019			61,158,000
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201602Member
Net income (loss)	$ (4,010)				(4,010)
Foreign currency translation adjustment	1,533						1,533
Unrealized gains on investments	30						30
Issuance of ordinary shares upon exercise of share options	6,674		$ 5	6,669
Issuance of ordinary shares upon exercise of share options, Shares			441,000
Share-based compensation	10,015			10,015
ESPP Purchase	2,490		$ 1	2,489
ESPP Purchase, Shares			89,000
Tax withholding on ESPP purchases and vesting of RSUs	(1,431)			(1,431)
Tax withholding on ESPP purchases and vesting of RSUs, Shares			(6,000)
Vesting of RSUs, Shares			47,000
Ending balance at Jun. 30, 2019	191,108		$ 740	281,130	(85,470)		(5,292)
Ending balance, Shares at Jun. 30, 2019			61,729,000
Beginning balance at Mar. 31, 2020	$ 232,055		$ 754	325,808	(83,660)		(10,847)
Beginning balance, Shares at Mar. 31, 2020	62,791,691		62,792,000
Net income (loss)	$ 3,138				3,138
Foreign currency translation adjustment	3,900						3,900
Issuance of ordinary shares upon exercise of share options	$ 5,040		$ 3	5,037
Issuance of ordinary shares upon exercise of share options, Shares	249,085		249,000
Share-based compensation	$ 13,666			13,666
ESPP Purchase	3,095		$ 1	3,094
ESPP Purchase, Shares			87,000
Tax withholding on ESPP purchases and vesting of RSUs	(2,575)			(2,575)
Tax withholding on ESPP purchases and vesting of RSUs, Shares			(3,000)
Vesting of RSUs			$ 1	(1)
Vesting of RSUs, Shares			144,000
Ending balance at Jun. 30, 2020	$ 258,319		$ 759	$ 345,029	$ (80,522)		$ (6,947)
Ending balance, Shares at Jun. 30, 2020	63,269,191		63,269,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating activities
Net income (loss)	$ 3,138	$ (4,010)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	8,852	7,442
Share-based compensation expense	13,653	10,034
Amortization of deferred contract costs	2,869	2,116
Amortization of debt issuance costs	114	157
Amortization of operating lease right-of-use assets	7,111	7,677
Other non-cash items		(42)
Unrealized currency gains on foreign denominated transactions	(2,733)	(856)
Changes in assets and liabilities:
Accounts receivable	12,405	11,927
Prepaid expenses and other current assets	(497)	8,856
Deferred contract costs	(5,203)	(4,806)
Other assets	156	(638)
Accounts payable	(2,037)	(808)
Deferred revenue	(5,645)	1,295
Operating lease liabilities	(8,221)	(5,145)
Accrued expenses and other liabilities	5,343	(4,675)
Net cash provided by operating activities	29,305	28,524
Investing activities
Purchases of property, equipment and capitalized software	(10,771)	(9,161)
Purchases of strategic investments		(3,025)
Maturities of investments		14,000
Net cash (used in) provided by investing activities	(10,771)	1,814
Financing activities
Proceeds from issuance of ordinary shares	8,135	9,164
Withholding taxes related to net share settlement of ESPP purchases and vesting of RSUs	(2,575)	(1,431)
Payments on debt	(1,250)	(625)
Payments on finance lease obligations	(347)	(166)
Net cash provided by financing activities	3,963	6,942
Effect of foreign exchange rates on cash	2,086	(44)
Net increase in cash and cash equivalents	24,583	37,236
Cash and cash equivalents at beginning of period	173,958	137,576
Cash and cash equivalents at end of period	198,541	174,812
Supplemental disclosure of cash flow information
Cash paid during the period for interest	763	1,075
Cash paid during the period for income taxes	82	73
Supplemental disclosure of non-cash investing and financing activities
Unpaid purchases of property, equipment and capitalized software	8,731	5,086
Operating lease right-of-use assets exchanged for lease obligations	$ 1,004	$ 1,195

Summary of Business and Signifi

Summary of Business and Significant Accounting Policies	3 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Summary of Business and Significant Accounting Policies	1. Summary of Business and Significant Accounting Policies Description of Business Mimecast Limited (Mimecast or the Company) is a public limited company organized under the laws of the Bailiwick of Jersey on July 28, 2015 and is headquartered in London, England. The principal activity of the Company is the provision of cloud security and risk management services for email and corporate information. The Company’s Email Security 3.0 and Cyber Resilience Extension offerings are designed to protect customers from today’s rapidly changing security environment. The Email Security 3.0 strategy addresses threats in three distinct zones: at the email perimeter (Zone 1); inside the network and the organization (Zone 2); and beyond the perimeter (Zone 3). The Company’s Cyber Resilience Extensions expand resilience to other critical elements of an organization’s digital infrastructure. The Company’s primary offerings include: email security; email continuity; email archiving; awareness training; web security; DMARC analyzer; and brand exploit protection. Mimecast operates principally in Europe, North America, Africa and Australia. The Company is subject to a number of risks and uncertainties common to companies in similar industries and stages of development including, but not limited to, rapid technological changes, competition from substitute products and services from larger companies, customer concentration, management of international activities, protection of proprietary rights, patent litigation, and dependence on key individuals. Basis of Presentation The accompanying interim condensed consolidated financial statements are unaudited. These financial statements and notes should be read in conjunction with the audited consolidated financial statements for the year ended March 31, 2020 and related notes, together with management’s discussion and analysis of financial condition and results of operations, contained in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on May 22, 2020. The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) for interim financial information, pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the financial information and footnotes required by GAAP for complete financial statements. In the opinion of management, the unaudited condensed consolidated financial statements and notes have been prepared on the same basis as the audited consolidated financial statements for the year ended March 31, 2020 contained in the Company’s Annual Report on Form 10-K and include all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the Company’s financial position as of June 30, 2020, and for the three months ended June 30, 2020 and 2019. These interim periods are not necessarily indicative of the results to be expected for any other interim period or the full year. The Company reclassified $0.3 million from proceeds from issuance of ordinary shares to tax withholding on employee share purchase plan purchases and vesting of restricted share units within its condensed consolidated statement of shareholders’ equity and condensed consolidated statement of cash flows for the three months ended June 30, 2019 to conform to current period presentation. These reclassifications had no impact on the Company’s previously reported results of operations or its balance sheets. Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of income and expenses during the reporting period. Significant estimates relied upon in preparing these condensed consolidated financial statements include revenue recognition, variable consideration, valuation at fair value of assets acquired or sold, including intangible assets, goodwill, tangible assets, and liabilities assumed, amortization periods, expected future cash flows used to evaluate the recoverability of long-lived assets, contingent liabilities, determination of incremental borrowing rates, restructuring liabi lities, expensing and capitalization of research and development costs for internal-use software, the determination of the fair value of share-based awards issued, the average period of benefit associated with costs capitalized to obtain revenue contracts and the recoverability of the Company’s net deferred tax assets and related valuation allowance. Due to the global COVID-19 pandemic, there has been uncertainty and disruption in the global economy and financial markets. The Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or a revision of the carrying value of its assets or liabilities as of June 30, 2020. Although the Company regularly assesses these estimates, actual results could differ materially from these estimates. The Company bases its estimates on historical experience and various other assumptions that it believes to be reasonable under the circumstances. Actual results may differ from management’s estimates if these results differ from historical experience, or other assumptions do not turn out to be substantially accurate, even if such assumptions are reasonable when made. Changes in estimates are recorded in the period in which they become known. Comprehensive Income (Loss) Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions, other events, and circumstances from non-owner sources. Comprehensive income (loss) consists of net income (loss) and other comprehensive income, which includes certain changes in equity that are excluded from net income (loss). As of June 30, 2020 and March 31, 2020, accumulated other comprehensive loss is presented separately on the condensed consolidated balance sheets and consists of cumulative foreign currency translation adjustments and unrealized gains and losses on investments. Accounting Policies The accompanying condensed consolidated financial statements reflect the application of certain significant accounting policies as described below and elsewhere in these notes to the condensed consolidated financial statements. As of June 30, 2020, the Company’s significant accounting policies and estimates, which are detailed in the Company’s Annual Report on Form 10-K, have not changed, other than those impacted by new accounting standards as described below. Recently Issued and Adopted Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (FASB) or other standard setting bodies and adopted by the Company as of the specified effective date. Recently Adopted Accounting Pronouncements On April 1, 2020, the Company adopted ASU 2016-13, Financial Instruments - Credit Losses (Topic 326) On April 1, 2020, the Company adopted ASU 2017-04, Simplifying the Test for Goodwill Impairment (ASU 2017-04). ASU 2017-04 eliminates the second step in the goodwill impairment test which requires an entity to determine the implied fair value of the reporting unit’s goodwill. The adoption of this standard had no impact on the Company’s consolidated financial statements. Recently Issued Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes

Revenue and Deferred Revenue

Revenue and Deferred Revenue	3 Months Ended
	Jun. 30, 2020
Revenue From Contract With Customer [Abstract]
Revenue and Deferred Revenue	2. Revenue and Deferred Revenue Revenue recognized during the three months ended June 30, 2020 and 2019 from amounts included in deferred revenue at the beginning of the respective periods was approximately $80.8 million and $67.2 million, respectively. Revenue recognized during the three months ended June 30, 2020 from performance obligations satisfied or partially satisfied in previous periods was not material. Contracted revenue as of June 30, 2020 and 2019 that has not yet been recognized (contracted and not recognized) was $98.9 million and $90.5 million, respectively, which includes deferred revenue and non-cancellable amounts that will be invoiced and recognized as revenue in future periods and excludes contracts with an original expected length of one year or less. The Company expects 56% of contracted and not recognized revenue to be recognized over the next twelve months, 42% in years two and three, with the remaining balance recognized thereafter.

Concentration of Credit Risk an

Concentration of Credit Risk and Off-Balance Sheet Risk	3 Months Ended
	Jun. 30, 2020
Risks And Uncertainties [Abstract]
Concentration of Credit Risk and Off-Balance Sheet Risk	3. Concentration of Credit Risk and Off-Balance Sheet Risk The Company has no off-balance sheet risk, such as foreign exchange contracts, option contracts, or other foreign hedging arrangements. Financial instruments, which potentially subject the Company to concentrations of credit risk, consist primarily of cash and cash equivalents, investments and accounts receivable. The Company maintains its cash, cash equivalents and investments with major financial institutions of high-credit quality. Although the Company deposits its cash with multiple financial institutions, its deposits, at times, may exceed federally insured limits. Credit risk with respect to accounts receivable is dispersed due to our large number of customers. The Company’s accounts receivable are derived from revenue earned from customers primarily located in the United States, the United Kingdom and South Africa. The Company generally does not require its customers to provide collateral or other security to support accounts receivable. The Company maintains an allowance for its doubtful accounts receivable due to estimated credit losses. The Company estimates credit losses at the reporting date resulting from the inability of its customers to make required payments, including its historical experience of actual losses and the aging of such receivables. These receivables have been pooled by shared risk characteristics. Based on known information the Company may also establish specific allowances for customers in an adverse financial condition or adjust its expectations of changes in conditions that may impact the collectability of outstanding receivables. Credit losses historically have not been significant and the Company generally has not experienced any material losses related to receivables from individual customers, or groups of customers. Due to these factors, no additional credit risk beyond amounts provided for collection losses is believed by management to be probable in the Company’s accounts receivable. The Company will continue to actively monitor the impact of the COVID-19 pandemic on expected credit losses. As of June 30, 2020 and March 31, 2020, no individual customer represented more than 10% of the Company’s accounts receivable. During the three months ended June 30, 2020 and 2019, no individual customer represented more than 10% of the Company’s revenue. The Company diversifies its investment portfolio by investing in multiple types of investment-grade securities and attempts to mitigate a risk of loss by using a third-party investment manager. As of June 30, 2020 and March 31, 2020, the Company did not hold any investments.

Cash, Cash Equivalents and Inve

Cash, Cash Equivalents and Investments	3 Months Ended
	Jun. 30, 2020
Cash And Cash Equivalents [Abstract]
Cash, Cash Equivalents and Investments	4. Cash, Cash Equivalents and Investments The Company considers all highly liquid instruments purchased with an original maturity date of 90 days or less from the date of purchase to be cash equivalents. Cash and cash equivalents consist of cash on deposit with banks, amounts held in interest-bearing money market funds and investments with maturities of 90 days or less from the date of purchase. Investments not classified as cash equivalents are presented as either short-term or long-term investments based on both their stated maturities as well as the time period the Company intends to hold such securities. The Company determines the appropriate classification of investments at the time of purchase and reevaluates such designation at each balance sheet date. The Company adjusts the cost of investments for amortization of premiums and accretion of discounts to maturity. The Company includes such amortization and accretion in interest income in the condensed consolidated statements of operations. As of June 30, 2020 and March 31, 2020, cash and cash equivalents of $198.5 million and $174.0 million, respectively, were carried at amortized cost, which approximates their market value.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	5. Fair Value of Financial Instruments The Company’s financial instruments include cash, cash equivalents, investments, accounts receivable, accounts payable, accrued expenses and borrowings under the Company’s long-term debt arrangements. The carrying amount of the Company’s long-term debt arrangements approximates its fair values due to the interest rates the Company believes it could obtain for arrangements with similar terms. The carrying amount of the remainder of the Company’s financial instruments approximated their fair values as of June 30, 2020 and March 31, 2020, due to the short-term nature of those instruments. The Company has evaluated the estimated fair value of financial instruments using available market information. The use of different market assumptions and/or estimation methodologies could have a significant effect on the estimated fair value amounts. Fair values determined using “Level 1 inputs” utilize unadjusted quoted prices in active markets for identical assets or liabilities that we have the ability to access. Fair values determined using “Level 2 inputs” utilize quoted prices that are directly or indirectly observable. Fair values determined using “Level 3 inputs” utilize unobservable inputs for determining fair values of assets or liabilities that reflect an entity's own assumptions in pricing assets or liabilities. As of June 30, 2020 and March 31, 2020, the Company did not have any assets or liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3). The Company measures eligible assets and liabilities at fair value, with changes in value recognized in earnings. Fair value treatment may be elected either upon initial recognition of an eligible asset or liability or, for an existing asset or liability, if an event triggers a new basis of accounting. The Company did not elect to remeasure any of its existing financial assets or liabilities and did not elect the fair value option for any financial assets and liabilities transacted in the three months ended June 30, 2020 and the year ended March 31, 2020. The following table summarizes financial assets measured and recorded at fair value on a recurring basis in the accompanying condensed consolidated balance sheets as of June 30, 2020 and March 31, 2020, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: June 30, 2020 Quoted Prices in Active Markets for Identical Assets (Level 1 Inputs) Significant Other Observable Inputs (Level 2 Inputs) Total Assets: Money market funds $ 13,939 $ — $ 13,939 March 31, 2020 Quoted Prices in Active Markets for Identical Assets (Level 1 Inputs) Significant Other Observable Inputs (Level 2 Inputs) Total Assets: Money market funds $ 17,495 $ — $ 17,495

Leases

Leases	3 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Leases	6. Leases The Company has operating and finance leases for data centers, facilities, and certain equipment. The leases have remaining lease terms of less than a year to 9 years, some of which include options to extend the leases for up to 10 years. The Company recognizes lease expense for operating leases on a straight-line basis over the lease term. Variable costs, which are based on actual usage, are not included in the measurement of right-of-use assets (ROUA) and lease liabilities but are expensed when the event determining the amount of variable consideration to be paid occurs. Amortization expense of the ROUA for finance leases is recognized on a straight-line basis over the lease term and interest expense for finance leases is recognized based on the effective interest method using an incremental borrowing rate. The components of lease expense were as follows: Three months ended June 30, 2020 2019 Short-term lease cost $ 67 $ 73 Variable lease cost 1,743 949 Operating lease cost 8,377 9,400 Finance lease cost: Amortization of lease assets 250 309 Interest on lease liabilities 16 28 Total finance lease cost $ 266 $ 337 Supplemental cash flow information related to leases was as follows: Three months ended June 30, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 9,637 $ 6,837 Operating cash outflows from finance leases $ 20 $ 18 Financing cash outflows from finance leases $ 347 $ 166 Weighted-average remaining lease term and discount rate: As of June 30, As of March 31, 2020 2020 Weighted-average remaining lease term (in years) Operating leases 6.36 6.46 Finance leases 1.06 1.31 Weighted-average discount rate Operating leases 4.78 % 4.74 % Finance leases 4.83 % 4.83 % Maturities of lease liabilities as of June 30, 2020 were as follows: Year Ending March 31, Operating Leases Finance Leases Remainder of 2021 $ 27,949 $ 735 2022 27,910 326 2023 21,406 — 2024 14,757 — 2025 14,253 — Thereafter 43,465 — Total lease payments 149,740 1,061 Less: imputed interest (20,496 ) (27 ) Total lease liabilities $ 129,244 $ 1,034 As of June 30, 2020, the Company had additional operating leases of $1.2 million, including data center leases, the terms of which have not yet commenced. These operating leases are expected to commence in the current fiscal year with lease terms of 2 to 3 years. As of June 30, 2020, the Company had no additional finance leases that have not yet commenced.

Internal-use Software Costs

Internal-use Software Costs	3 Months Ended
	Jun. 30, 2020
Research And Development [Abstract]
Internal-use Software Costs	7. Internal-use Software Costs Software Development Costs Costs incurred to develop software applications used in the Company’s SaaS platform consist of certain direct costs of materials and services incurred in developing or obtaining internal-use computer software, and payroll and payroll-related costs for employees who are directly associated with, and who devote time to, the project. These costs generally consist of internal labor during configuration, coding, and testing activities. Research and development costs incurred during the preliminary project stage or costs incurred for data conversion activities, training, maintenance and general and administrative or overhead costs are expensed as incurred. Once an application has reached the development stage, internal and external costs , if direct and incremental, are capitalized until the application is substantially complete and ready for its intended use. Qualified costs incurred during the operating stage of the Company’s software applications relating to upgrades and enhancements ar e capitalized to the extent it is probable that they will result in added functionality, while costs incurred for maintenance of, and minor upgrades and enhancements to, internal-use software are expensed as incurred. During the three ended June 30, 2020 a nd 2019, the Company believes the substantial majority of its development efforts were either in the preliminary project stage of development or in the operation stage (post-implementation), and accordingly, no costs have been capitalized during these periods. These costs are included in the accompanying condensed consolidated statements of operations as research and development expense. Implementation Costs on Cloud-computing Arrangements As of June 30, 2020 and March 31, 2020, the net carrying value of capitalized implementation costs related to hosting arrangements that were incurred during the application development stage were $2.7 million and $2.9 million, respectively. These capitalized implementation costs will be amortized over the expected term of the arrangement and are amortized in the same line item in the condensed consolidated statements of operations as the expense for fees for the associated hosting arrangement.

Net Income (Loss) Per Ordinary

Net Income (Loss) Per Ordinary Share	3 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Net Income (Loss) Per Ordinary Share	8. Net Income (Loss) Per Ordinary Share The Company calculates basic and diluted net income (loss) per ordinary share by dividing net income (loss) by the weighted-average number of ordinary shares outstanding during the period. For periods that net losses are incurred, the Company has excluded other potentially dilutive shares, which include The following table presents the calculation of basic and diluted net income (loss) per share for the periods presented (in thousands, except per share data): Three months ended June 30, 2020 2019 Numerator: Net income (loss) $ 3,138 $ (4,010 ) Denominator: Weighted-average number of ordinary shares used in computing net income (loss) per share applicable to ordinary shareholders - basic 63,019 61,444 Dilutive effect of share equivalents resulting from share options, RSUs and ESPP shares 1,657 — Weighted-average number of ordinary shares used in computing net income (loss) per share - diluted 64,676 61,444 Net income (loss) per share applicable to ordinary shareholders: Basic $ 0.05 $ (0.07 ) Diluted $ 0.05 $ (0.07 ) The following potentially dilutive ordinary share equivalents have been excluded from the calculation of diluted weighted-average shares outstanding as their effect would have been anti-dilutive for the periods presented (in thousands): Three months ended June 30, 2020 2019 Share options outstanding 4,406 6,946 Unvested RSUs 520 1,158 ESPP shares 85 83

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Jun. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Compensation	9. Share-Based Compensation For the three months ended June 30, 2020 and 2019, all grants of share-based awards have been made under the Mimecast Limited 2015 Share Option and Incentive Plan (the 2015 Plan) and the 2015 Employee Share Purchase Plan (the ESPP). Additionally, the Company has two pre-IPO share-based compensation plans including the Mimecast Limited 2010 EMI Share Option Scheme (the 2010 Plan) and the Mimecast Limited Approved Share Option Plan (the Approved Plan) (the 2010 Plan and the Approved Plan, collectively, the Historical Plans). Subsequent to November 19, 2015, the IPO date, no further grants under the Historical Plans were permitted. The 2015 Plan allows the compensation committee of the board of directors to make equity-based incentive awards to the Company’s officers, employees, non-employee directors and consultants. Initially a total of 5.5 million ordinary shares were reserved for the issuance of awards under the 2015 Plan. This number is subject to adjustment in the event of a share split, share dividend or other change in our capitalization. The 2015 Plan provides that the number of shares reserved and available for issuance under the plan will automatically increase each January 1st by 5% of the outstanding number of ordinary shares on the immediately preceding December 31 or such lesser number of shares as determined by the board of directors. Under the 2015 Plan, the share option price may not be less than the fair market value of the ordinary shares on the date of grant and the term of each share option may not exceed 10 years from the date of grant. Share options typically vest over 4 years, but vesting provisions can vary based on the discretion of the board of directors. The Company settles share option exercises and RSU releases under the 2015 Plan through newly issued shares. The Company’s ordinary shares underlying any awards that are forfeited, canceled, withheld upon exercise of an option, or settlement of an award to cover the exercise price or tax withholding, or otherwise terminated other than by exercise will be added back to the shares available for issuance under the 2015 Plan. Initially, a total of 1.1 million shares of the Company's ordinary shares were reserved for future issuance under the ESPP. This number is subject to change in the event of a share split, share dividend or other change in capitalization. The ESPP may be terminated or amended by the board of directors at any time. The ESPP permits eligible employees to purchase shares by authorizing payroll deductions from 1% to 10% of his or her eligible compensation during each six-month Share Options The fair value of each share option issued under the 2015 Plan was estimated using the Black-Scholes option-pricing model that used the following weighted-average assumptions: Three months ended June 30, 2020 2019 Expected term (in years) 6.1 6.1 Risk-free interest rate 0.6 % 2.4 % Expected volatility 44.6 % 42.8 % Expected dividend yield — % — % Estimated grant date fair value per ordinary share $ 33.43 $ 47.30 The weighted-average per share fair value of options granted to employees during the three months ended June 30, 2020 and 2019 was $14.31 and $21.15, respectively. As of June 30, 2020, the number of options and awards available for future grant under the 2015 Plan was 7,927,616. Share option activity under the 2015 Plan and the Historical Plans for the three months ended June 30, 2020 was as follows: Number of Awards Weighted Average Exercise Price (1) Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Outstanding as of March 31, 2020 6,271,111 $ 31.61 7.55 $ 47,621 Options granted 766,987 $ 33.43 Options exercised (249,085 ) $ 20.23 Options forfeited and cancelled (144,884 ) $ 38.68 Outstanding as of June 30, 2020 6,644,129 $ 32.10 7.54 $ 72,681 Exercisable as of June 30, 2020 2,924,395 $ 24.09 6.41 $ 53,358 (1) Certain of the Company’s option grants have an exercise price denominated in British pounds. The weighted-average exercise price at the end of each reporting period was translated into U.S. dollars using the exchange rate at the end of the period. The weighted-average exercise price for the options granted, exercised, forfeited and cancelled was translated into U.S. dollars using the exchange rate at the applicable date of grant, exerc ise, forfeiture or cancellation, as appropriate. The total intrinsic value of options exercised was $5.4 million for the three months ended June 30, 2020. Total cash proceeds from option exercises for the three months ended June 30, 2020 and 2019 was $5.0 million and $6.7 million, respectively. As of June 30, 2020, there was approximately $56.1 million of unrecognized share-based compensation related to unvested share-based awards subject to service-based vesting conditions, which is expected to be recognized over a weighted-average period of 2.71 years. ESPP In the three months ended June 30, 2020 and 2019, the Company recognized share-based compensation expense under the ESPP of $0.5 million and $0.4 million, respectively. Total cash proceeds from shares purchased under the ESPP for the three months ended June 30, 2020 and 2019 were $3.1 million and $2.5 million, respectively. As of June 30, 2020, there were 0.7 million shares of the Company's ordinary shares available for future issuance under the ESPP. RSUs The Company grants RSUs to its non-employee directors and its employees. Non-employee directors receive an initial RSU grant upon joining the board of directors that vests over three years and an annual grant each year thereafter that vests fully on the one-year anniversary of the grant date. RSUs granted to employees generally vest in four equal annual installments. RSU activity under the 2015 Plan for the three months ended June 30, 2020 was as follows: Number of Awards Weighted Average Grant Date Fair Value Intrinsic Value (in thousands) (1) Unvested RSUs as of March 31, 2020 1,276,840 $ 43.64 $ 45,072 RSUs granted 1,584,203 $ 33.52 RSUs vested (216,892 ) $ 43.77 RSUs forfeited (68,452 ) $ 40.14 Unvested RSUs as of June 30, 2020 2,575,699 $ 37.50 $ 107,304 (1) As of June 30, 2020 and March 31, 2020, the intrinsic value of unvested shares was calculated based on the closing price of the Company’s ordinary shares on the NASDAQ Global Select Market on June 30, 2020 and March 31, 2020, respectively, multiplied by the number of unvested RSUs. As of June 30, 2020, there was approximately $86.8 million of unrecognized share-based compensation expense related to unvested RSUs, which is expected to be recognized over a weighted-average period of 3.32 years. Share-based compensation expense recognized under the 2015 Plan, Historical Plans and ESPP in the accompanying condensed consolidated statements of operations was as follows: Three months ended June 30, 2020 2019 Cost of revenue $ 1,125 $ 787 Research and development 3,884 2,549 Sales and marketing 4,437 3,782 General and administrative 4,207 2,916 Total share-based compensation expense $ 13,653 $ 10,034

Acquisitions

Acquisitions	3 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Acquisitions	10. Acquisitions The following acquisitions have been accounted for as business combinations in accordance with ASC 805, Business Combinations Fiscal 2020 Acquisitions Segasec Labs Ltd. On January 3, 2020, the Company acquired Segasec Labs Ltd. (Segasec), a company incorporated under the laws of the State of Israel, that provides digital threat protection. Prior to the closing of the acquisition, the Company held an ownership interest of approximately 15.4%. The fair value of the previously held interest at the acquisition date approximated its’ original cost of $3.0 million. The Company acquired the remaining interest in Segasec for cash consideration of $24.2 million, net of cash acquired of $4.3 million. The preliminary purchase price allocation primarily consisted of $6.8 million of identifiable intangible assets and approximately $24.0 million of goodwill that is not deductible for tax purposes. The identifiable intangible assets primarily include developed technology of $6.7 million and customer relationships of $0.1 million, with estimated useful lives of 8.3 years and 6.3 years, respectively. The goodwill reflects the value of the synergies the Company expects to realize and the assembled workforce. The preliminary purchase price allocation is subject to finalization of amounts for potential indemnification adjustments. The Company has not presented pro forma results of operations for the Segasec acquisition because it is not material to the Company's condensed consolidated results of operations, financial position, or cash flows. DMARC Analyzer B.V. On November 13, 2019, the Company acquired DMARC Analyzer B.V., a company organized under the laws of the Netherlands (DMARC Analyzer), for cash consideration of approximately $21.1 million, net of cash acquired of $0.4 million. DMARC Analyzer is a SaaS-based solution provider that offers user-friendly Domain-based Message Authentication, Reporting and Conformance (DMARC) setup, management and analysis. This acquisition further addresses threats at the email perimeter, inside the email network, and beyond their immediate purview. The preliminary purchase price allocation primarily consisted of $3.4 million of identifiable intangible assets and approximately $18.9 million of goodwill that is not deductible for tax purposes. The identifiable intangible assets primarily include developed technology of $3.2 million and customer relationships of $0.2 million, with estimated useful lives of 7.5 years and 5.5 years, respectively. The goodwill reflects the value of the synergies the Company expects to realize and the assembled workforce. The preliminary purchase price allocation is subject to finalization of amounts for potential indemnification adjustments. The Company has not presented pro forma results of operations for the DMARC Analyzer acquisition because it is not material to the Company's condensed consolidated results of operations, financial position, or cash flows.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	11. Goodwill and Intangible Assets The following is a rollforward of the Company’s goodwill balance: Goodwill Balance as of March 31, 2020 $ 150,525 Effect of foreign exchange rates 3,676 Balance as of June 30, 2020 $ 154,201 Purchased intangible assets consist of the following: Weighted- Average June 30, 2020 Remaining Gross Net Useful Life Carrying Accumulated Carrying (in years) Value Amortization Value Developed technology 8 $ 34,106 $ (5,597 ) $ 28,509 Customer relationships 5 786 (193 ) 593 Capitalized software and other (1) (2) 3 18,910 (8,160 ) 10,750 $ 53,802 $ (13,950 ) $ 39,852 Weighted- Average March 31, 2020 Remaining Gross Net Useful Life Carrying Accumulated Carrying (in years) Value Amortization Value Developed technology 8 $ 33,269 $ (4,547 ) $ 28,722 Customer relationships 5 771 (159 ) 612 Trade names N/A 41 (41 ) — Capitalized software and other (1) (2) 3 16,849 (7,789 ) 9,060 $ 50,930 $ (12,536 ) $ 38,394 (1) As of June 30, 2020 and March 31, 2020, the net carrying value of capitalized software and other includes $1.5 million and $1.4 million, respectively, of costs capitalized related to video production costs. (2) As of June 30, 2020 and March 31, 2020, the net carrying value of capitalized software and other includes $0.2 million and $0.2 million of costs capitalized related to IP addresses. For the three months ended June 30, 2020 and 2019, the Company recorded amortization expense of $2.1 million and $1.5 million, respectively. Amortization relating to developed technology and capitalized software was recorded within cost of revenue and amortization of customer relationships and trade names was recorded within sales and marketing expenses. Future estimated amortization expense of intangible assets as of June 30, 2020, is as follows: Purchased Intangible Assets Capitalized Software Remainder of 2021 $ 2,940 $ 3,284 2022 3,919 3,272 2023 3,919 2,251 2024 3,865 974 2025 3,794 814 Thereafter 10,665 155 Total $ 29,102 $ 10,750

Debt

Debt	3 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt	12. Debt In July 2018, the Company entered into a credit agreement (the Credit Agreement) that provided the Company with a $100.0 million senior secured term loan (the Term Loan) and a $50.0 million senior secured revolving credit facility. In June 2020, the Credit Agreement was amended to permit the Company to issue letters of credit in certain additional foreign currencies beyond the U.S. dollar and the British pound (as amended, the Credit Agreement, the Term Loan and the Revolving Facility are referred to herein as the Credit Facility). The term of the Credit Facility is five years, maturing on July 23, 2023. As of June 30, 2020 and March 31, 2020, the effective interest rate under the Credit Facility was LIBOR plus 1.375%. The Credit Facility requires the Company to maintain compliance with certain debt covenants, all of which the Company was in compliance with as of June 30, 2020. As of June 30, 2020, the Company had $92.5 million outstanding on the Term Loan and had no outstanding borrowings under the Revolving Facility. Total availability under the Revolving Facility is reduced by outstanding letters of credit of $2.0 million. As of June 30, 2020, total availability under the Revolving Facility was $48.0 million. On July 28, 2020, the Company drew down $17.5 million under the Revolving Facility. See Note 16 for further information. Future minimum principal payment obligations under the Term Loan are as follows: Year Ending March 31, Debt Remainder of 2021 $ 5,625 2022 9,375 2023 10,000 2024 67,500 Total minimum debt payments 92,500 Less: Debt issuance costs (842 ) Less: Current portion of long-term debt (7,202 ) Long-term debt $ 84,456 As of June 30, 2020 and March 31, 2020, the balance of debt issuance costs recorded as a reduction of debt was $0.8 million and $0.9 million, respectively. As of June 30, 2020 and March 31, 2020, the balance of debt issuance costs recorded in other assets was $0.5 million. For the three months ended June 30, 2020 and 2019, total interest expense under the Credit Facility was $0.7 million and $1.1 million, respectively.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jun. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	13. Commitments and Contingencies Litigation On September 10, 2019, ZapFraud, Inc. (ZapFraud), filed a complaint in the U.S. District Court for the District of Delaware against the Company’s wholly owned subsidiaries, Mimecast North America, Inc., Mimecast Services Limited and Mimecast UK Limited. The complaint alleges that certain elements of the Company’s email security technology infringe a patent held by ZapFraud. ZapFraud seeks an award for damages in an unspecified amount, attorney’s fees and injunctive relief. On November 22, 2019, the Company filed a Motion to Dismiss for Failure to State a Claim. The Company has requested that a hearing be held on this motion, but no court date has been set. On April 24, 2020, ZapFraud amended its complaint by alleging that the Company’s email security technology infringes an additional patent that was recently issued to ZapFraud. On May 22, 2020, the Company filed a revised Motion to Dismiss for Failure to State a Claim that responds to ZapFraud’s amended complaint. This litigation is in its very early stages. As a result, neither the ultimate outcome of this litigation nor an estimate of a probable loss or any reasonably possible losses can be assessed at this time. The Company intends to defend the lawsuit vigorously. Regardless of the outcome, litigation can have an adverse impact on the Company because of defense and potential settlement costs, diversion of management resources and other factors. During fiscal 2019 and 2020, the Company engaged in discussions with a non-practicing patent entity (NPE) regarding the entity’s patented technology and allegations regarding the Company’s past infringement of that technology. On September 30, 2019, the Company entered into confidential global patent license agreements with the NPE and certain of its affiliates that provided patent licenses to the Company related to the NPE’s global patent portfolio, resolved all claims of past infringement and provided mutual covenants not to sue for a certain number of years. Under the terms of the patent license agreements, the Company made an aggregate payment of $5.9 million to the NPE. The Company evaluated the transaction as a multiple-element arrangement and allocated the payment of $5.9 million to each identifiable element using its relative fair value. Based on estimates of fair value, the Company determined that the primary benefit of the arrangement is the avoidance of litigation costs and the release of any potential past infringement claims, with a portion of the value attributable to future use or benefit of the global patent license. In the fiscal years ended March 31, 2020 and 2019, the Company recorded expense of $2.7 million and $1.0 million within general and administrative expenses. The remaining $2.2 million is being amortized over its expected useful life of 3.5 years. From time to time, the Company may be involved in legal proceedings and subject to claims in the ordinary course of business. Although the results of these proceedings and claims cannot be predicted with certainty, the Company does not believe the ultimate cost to resolve these matters would individually, or taken together, have a material adverse effect on the Company’s business, operating results, cash flows or financial condition. Regardless of the outcome, such proceedings can have an adverse impact on the Company because of defense and settlement costs, diversion of resources and other factors, and there can be no assurances that favorable outcomes will be obtained. Except as described above, the Company was not subject to any material legal proceedings during the three months ended June 30, 2020 an d 2019, and, to the best of its knowledge, except as described above, no material legal proceedings are currently pending or threatened. Indemnification In the ordinary course of business, the Company provides indemnifications of varying scope and terms to customers, business partners, vendors, lessors, investors, directors, officers, employees, and other parties with respect to certain matters. Indemnification may include losses from intellectual property infringement claims made by third parties, the Company’s breach of such agreements, and other liabilities relating to or arising from the Company’s acts or omissions. These indemnifications may survive termination of the underlying agreement and the maximum potential amount of future indemnification payments may not be subject to a cap. It is not possible to determine the maximum potential loss under these indemnification provisions due to the Company’s limited history of prior indemnification claims and the unique facts and circumstances involved in each particular indemnification. Based on historical experience and information known as of June 30, 2020 and March 31, 2020, the Company has not incurred any costs for the above indemnities. In certain circumstances, the Company warrants that its services will perform in all material respects in accordance with its standard published specification documentation in effect at the time of delivery of the services to the customer for the term of the agreement. To date, the Company has not incurred significant expense under its warranties and, as a result, the Company believes the estimated fair value of these agreements is immaterial.

Segment and Geographic Informat

Segment and Geographic Information	3 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Segment and Geographic Information	14. Segment and Geographic Information Geographic Data The Company allocates, for the purpose of geographic data reporting, its revenue based upon the location of the contracting subsidiary. Total revenue by geographic area was as follows: Three months ended June 30, 2020 2019 Revenue: United States $ 60,747 $ 50,416 United Kingdom 33,090 29,393 South Africa 11,175 12,526 Other 10,164 6,896 Total revenue $ 115,176 $ 99,231 Property and equipment, net, by geographic location consists of the following: As of June 30, As of March 31, 2020 2020 United States $ 37,507 $ 39,193 United Kingdom 29,047 29,644 South Africa 7,031 7,093 Other 12,395 9,248 Total $ 85,980 $ 85,178

Income Taxes

Income Taxes	3 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	15. Income Taxes The provision for income taxes for the three months ended June 30, 2020 and 2019 was $0.6 million and $0.2 million, respectively, on income (loss) before income taxes of $3.8 million and $(3.8) million, respectively. The provision for income taxes for the three months ended June 30, 2020 was primarily attributable to the tax provision recorded on the earnings of the Company’s profitable entities, partially offset by the discrete tax benefit of $0.4 million related to excess tax benefits on non-qualified share option exercises by U.S. employees. The provision for income taxes for the three months ended June 30, 2019 was primarily attributable to the tax provision recorded on the earnings of the Company’s U.S. and South African entities, partially offset by the tax benefit provided on the loss of the Company’s Israeli entity and a discrete tax benefit of $ 0.6 million related to excess tax benefits on share option exercises by U.S. employees. In assessing the Company’s ability to realize its net deferred tax assets, the Company considered various factors including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent financial operations to determine whether it is more likely than not that some portion or all of its net deferred tax assets will not be realized. Based upon these factors, the Company has determined that the uncertainty regarding the realization of these assets is sufficient to warrant the need for a full valuation allowance against its net deferred tax assets as of June 30, 2020. During the three months ended June 30, 2020, the Company did not have a material change to the Company’s liabilities for uncertain tax positions. As of June 30, 2020, the Company did not have any material uncertain tax positions that would impact the effective tax rate if recognized. Interest and penalty charges, if any, related to uncertain tax positions would be classified as income tax expense in the accompanying condensed consolidated statements of operations. As of June 30, 2020 and March 31, 2020, accrued interest or penalties related to uncertain tax positions were immaterial.

Subsequent Events

Subsequent Events	3 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	16. Subsequent Events On July 29, 2020, the Company acquired eTorch Inc., d/b/a MessageControl (“MessageControl”), a privately-owned company based in the United States, for the preliminary purchase price of approximately $17.0 million, net of cash acquired. MessageControl is a messaging security provider with solutions designed to help stop social engineering and human identity attacks with the use of machine learning technology. On July 28, 2020, the Company drew down $17.5 million under the Revolving Facility to fund the acquisition.

Summary of Business and Signi_2

Summary of Business and Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying interim condensed consolidated financial statements are unaudited. These financial statements and notes should be read in conjunction with the audited consolidated financial statements for the year ended March 31, 2020 and related notes, together with management’s discussion and analysis of financial condition and results of operations, contained in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on May 22, 2020. The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) for interim financial information, pursuant to the rules and regulations of the SEC. Accordingly, they do not include all of the financial information and footnotes required by GAAP for complete financial statements. In the opinion of management, the unaudited condensed consolidated financial statements and notes have been prepared on the same basis as the audited consolidated financial statements for the year ended March 31, 2020 contained in the Company’s Annual Report on Form 10-K and include all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the Company’s financial position as of June 30, 2020, and for the three months ended June 30, 2020 and 2019. These interim periods are not necessarily indicative of the results to be expected for any other interim period or the full year. The Company reclassified $0.3 million from proceeds from issuance of ordinary shares to tax withholding on employee share purchase plan purchases and vesting of restricted share units within its condensed consolidated statement of shareholders’ equity and condensed consolidated statement of cash flows for the three months ended June 30, 2019 to conform to current period presentation. These reclassifications had no impact on the Company’s previously reported results of operations or its balance sheets.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of income and expenses during the reporting period. Significant estimates relied upon in preparing these condensed consolidated financial statements include revenue recognition, variable consideration, valuation at fair value of assets acquired or sold, including intangible assets, goodwill, tangible assets, and liabilities assumed, amortization periods, expected future cash flows used to evaluate the recoverability of long-lived assets, contingent liabilities, determination of incremental borrowing rates, restructuring liabi lities, expensing and capitalization of research and development costs for internal-use software, the determination of the fair value of share-based awards issued, the average period of benefit associated with costs capitalized to obtain revenue contracts and the recoverability of the Company’s net deferred tax assets and related valuation allowance. Due to the global COVID-19 pandemic, there has been uncertainty and disruption in the global economy and financial markets. The Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or a revision of the carrying value of its assets or liabilities as of June 30, 2020. Although the Company regularly assesses these estimates, actual results could differ materially from these estimates. The Company bases its estimates on historical experience and various other assumptions that it believes to be reasonable under the circumstances. Actual results may differ from management’s estimates if these results differ from historical experience, or other assumptions do not turn out to be substantially accurate, even if such assumptions are reasonable when made. Changes in estimates are recorded in the period in which they become known.
Comprehensive Income (Loss)	Comprehensive Income (Loss) Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions, other events, and circumstances from non-owner sources. Comprehensive income (loss) consists of net income (loss) and other comprehensive income, which includes certain changes in equity that are excluded from net income (loss). As of June 30, 2020 and March 31, 2020, accumulated other comprehensive loss is presented separately on the condensed consolidated balance sheets and consists of cumulative foreign currency translation adjustments and unrealized gains and losses on investments.
Recently Issued and Adopted Accounting Pronouncements	Recently Issued and Adopted Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (FASB) or other standard setting bodies and adopted by the Company as of the specified effective date. Recently Adopted Accounting Pronouncements On April 1, 2020, the Company adopted ASU 2016-13, Financial Instruments - Credit Losses (Topic 326) On April 1, 2020, the Company adopted ASU 2017-04, Simplifying the Test for Goodwill Impairment (ASU 2017-04). ASU 2017-04 eliminates the second step in the goodwill impairment test which requires an entity to determine the implied fair value of the reporting unit’s goodwill. The adoption of this standard had no impact on the Company’s consolidated financial statements. Recently Issued Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes
Revenue and Deferred Revenue	Revenue and Deferred Revenue Revenue recognized during the three months ended June 30, 2020 and 2019 from amounts included in deferred revenue at the beginning of the respective periods was approximately $80.8 million and $67.2 million, respectively. Revenue recognized during the three months ended June 30, 2020 from performance obligations satisfied or partially satisfied in previous periods was not material. Contracted revenue as of June 30, 2020 and 2019 that has not yet been recognized (contracted and not recognized) was $98.9 million and $90.5 million, respectively, which includes deferred revenue and non-cancellable amounts that will be invoiced and recognized as revenue in future periods and excludes contracts with an original expected length of one year or less. The Company expects 56% of contracted and not recognized revenue to be recognized over the next twelve months, 42% in years two and three, with the remaining balance recognized thereafter.
Concentration of Credit Risk and Off-Balance Sheet Risk	Concentration of Credit Risk and Off-Balance Sheet Risk The Company has no off-balance sheet risk, such as foreign exchange contracts, option contracts, or other foreign hedging arrangements. Financial instruments, which potentially subject the Company to concentrations of credit risk, consist primarily of cash and cash equivalents, investments and accounts receivable. The Company maintains its cash, cash equivalents and investments with major financial institutions of high-credit quality. Although the Company deposits its cash with multiple financial institutions, its deposits, at times, may exceed federally insured limits. Credit risk with respect to accounts receivable is dispersed due to our large number of customers. The Company’s accounts receivable are derived from revenue earned from customers primarily located in the United States, the United Kingdom and South Africa. The Company generally does not require its customers to provide collateral or other security to support accounts receivable. The Company maintains an allowance for its doubtful accounts receivable due to estimated credit losses. The Company estimates credit losses at the reporting date resulting from the inability of its customers to make required payments, including its historical experience of actual losses and the aging of such receivables. These receivables have been pooled by shared risk characteristics. Based on known information the Company may also establish specific allowances for customers in an adverse financial condition or adjust its expectations of changes in conditions that may impact the collectability of outstanding receivables. Credit losses historically have not been significant and the Company generally has not experienced any material losses related to receivables from individual customers, or groups of customers. Due to these factors, no additional credit risk beyond amounts provided for collection losses is believed by management to be probable in the Company’s accounts receivable. The Company will continue to actively monitor the impact of the COVID-19 pandemic on expected credit losses. As of June 30, 2020 and March 31, 2020, no individual customer represented more than 10% of the Company’s accounts receivable. During the three months ended June 30, 2020 and 2019, no individual customer represented more than 10% of the Company’s revenue. The Company diversifies its investment portfolio by investing in multiple types of investment-grade securities and attempts to mitigate a risk of loss by using a third-party investment manager. As of June 30, 2020 and March 31, 2020, the Company did not hold any investments.
Cash, Cash Equivalents and Investments	Cash, Cash Equivalents and Investments The Company considers all highly liquid instruments purchased with an original maturity date of 90 days or less from the date of purchase to be cash equivalents. Cash and cash equivalents consist of cash on deposit with banks, amounts held in interest-bearing money market funds and investments with maturities of 90 days or less from the date of purchase. Investments not classified as cash equivalents are presented as either short-term or long-term investments based on both their stated maturities as well as the time period the Company intends to hold such securities. The Company determines the appropriate classification of investments at the time of purchase and reevaluates such designation at each balance sheet date. The Company adjusts the cost of investments for amortization of premiums and accretion of discounts to maturity. The Company includes such amortization and accretion in interest income in the condensed consolidated statements of operations. As of June 30, 2020 and March 31, 2020, cash and cash equivalents of $198.5 million and $174.0 million, respectively, were carried at amortized cost, which approximates their market value.
Internal-use Software Costs	Internal-use Software Costs Software Development Costs Costs incurred to develop software applications used in the Company’s SaaS platform consist of certain direct costs of materials and services incurred in developing or obtaining internal-use computer software, and payroll and payroll-related costs for employees who are directly associated with, and who devote time to, the project. These costs generally consist of internal labor during configuration, coding, and testing activities. Research and development costs incurred during the preliminary project stage or costs incurred for data conversion activities, training, maintenance and general and administrative or overhead costs are expensed as incurred. Once an application has reached the development stage, internal and external costs , if direct and incremental, are capitalized until the application is substantially complete and ready for its intended use. Qualified costs incurred during the operating stage of the Company’s software applications relating to upgrades and enhancements ar e capitalized to the extent it is probable that they will result in added functionality, while costs incurred for maintenance of, and minor upgrades and enhancements to, internal-use software are expensed as incurred. During the three ended June 30, 2020 a nd 2019, the Company believes the substantial majority of its development efforts were either in the preliminary project stage of development or in the operation stage (post-implementation), and accordingly, no costs have been capitalized during these periods. These costs are included in the accompanying condensed consolidated statements of operations as research and development expense. Implementation Costs on Cloud-computing Arrangements As of June 30, 2020 and March 31, 2020, the net carrying value of capitalized implementation costs related to hosting arrangements that were incurred during the application development stage were $2.7 million and $2.9 million, respectively. These capitalized implementation costs will be amortized over the expected term of the arrangement and are amortized in the same line item in the condensed consolidated statements of operations as the expense for fees for the associated hosting arrangement.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Summary of Financial Assets Measured and Recorded at Fair Value on Recurring Basis	The following table summarizes financial assets measured and recorded at fair value on a recurring basis in the accompanying condensed consolidated balance sheets as of June 30, 2020 and March 31, 2020, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: June 30, 2020 Quoted Prices in Active Markets for Identical Assets (Level 1 Inputs) Significant Other Observable Inputs (Level 2 Inputs) Total Assets: Money market funds $ 13,939 $ — $ 13,939 March 31, 2020 Quoted Prices in Active Markets for Identical Assets (Level 1 Inputs) Significant Other Observable Inputs (Level 2 Inputs) Total Assets: Money market funds $ 17,495 $ — $ 17,495

Leases (Tables)

Leases (Tables)	3 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Schedule of Components of Lease Expense	The components of lease expense were as follows: Three months ended June 30, 2020 2019 Short-term lease cost $ 67 $ 73 Variable lease cost 1,743 949 Operating lease cost 8,377 9,400 Finance lease cost: Amortization of lease assets 250 309 Interest on lease liabilities 16 28 Total finance lease cost $ 266 $ 337
Schedule of Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases was as follows: Three months ended June 30, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 9,637 $ 6,837 Operating cash outflows from finance leases $ 20 $ 18 Financing cash outflows from finance leases $ 347 $ 166
Schedule of Weighted-average Remaining Lease Term and Discount Rate	Weighted-average remaining lease term and discount rate: As of June 30, As of March 31, 2020 2020 Weighted-average remaining lease term (in years) Operating leases 6.36 6.46 Finance leases 1.06 1.31 Weighted-average discount rate Operating leases 4.78 % 4.74 % Finance leases 4.83 % 4.83 %
Schedule of Maturities of Lease Liabilities	Maturities of lease liabilities as of June 30, 2020 were as follows: Year Ending March 31, Operating Leases Finance Leases Remainder of 2021 $ 27,949 $ 735 2022 27,910 326 2023 21,406 — 2024 14,757 — 2025 14,253 — Thereafter 43,465 — Total lease payments 149,740 1,061 Less: imputed interest (20,496 ) (27 ) Total lease liabilities $ 129,244 $ 1,034

Net Income (Loss) Per Ordinar_2

Net Income (Loss) Per Ordinary Share (Tables)	3 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Schedule for Calculation of Basic and Diluted Net Income (Loss) Per Share	The following table presents the calculation of basic and diluted net income (loss) per share for the periods presented (in thousands, except per share data): Three months ended June 30, 2020 2019 Numerator: Net income (loss) $ 3,138 $ (4,010 ) Denominator: Weighted-average number of ordinary shares used in computing net income (loss) per share applicable to ordinary shareholders - basic 63,019 61,444 Dilutive effect of share equivalents resulting from share options, RSUs and ESPP shares 1,657 — Weighted-average number of ordinary shares used in computing net income (loss) per share - diluted 64,676 61,444 Net income (loss) per share applicable to ordinary shareholders: Basic $ 0.05 $ (0.07 ) Diluted $ 0.05 $ (0.07 )
Dilutive Ordinary Shares Excluded from Calculation of Diluted Weighted Average Shares Outstanding	The following potentially dilutive ordinary share equivalents have been excluded from the calculation of diluted weighted-average shares outstanding as their effect would have been anti-dilutive for the periods presented (in thousands): Three months ended June 30, 2020 2019 Share options outstanding 4,406 6,946 Unvested RSUs 520 1,158 ESPP shares 85 83

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Jun. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Weighted Average Assumption Utilized to Determine Fair Value of Option	The fair value of each share option issued under the 2015 Plan was estimated using the Black-Scholes option-pricing model that used the following weighted-average assumptions: Three months ended June 30, 2020 2019 Expected term (in years) 6.1 6.1 Risk-free interest rate 0.6 % 2.4 % Expected volatility 44.6 % 42.8 % Expected dividend yield — % — % Estimated grant date fair value per ordinary share $ 33.43 $ 47.30
Schedule of Share-Based Compensation, Stock Options, Activity	Share option activity under the 2015 Plan and the Historical Plans for the three months ended June 30, 2020 was as follows: Number of Awards Weighted Average Exercise Price (1) Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Outstanding as of March 31, 2020 6,271,111 $ 31.61 7.55 $ 47,621 Options granted 766,987 $ 33.43 Options exercised (249,085 ) $ 20.23 Options forfeited and cancelled (144,884 ) $ 38.68 Outstanding as of June 30, 2020 6,644,129 $ 32.10 7.54 $ 72,681 Exercisable as of June 30, 2020 2,924,395 $ 24.09 6.41 $ 53,358 (1) Certain of the Company’s option grants have an exercise price denominated in British pounds. The weighted-average exercise price at the end of each reporting period was translated into U.S. dollars using the exchange rate at the end of the period. The weighted-average exercise price for the options granted, exercised, forfeited and cancelled was translated into U.S. dollars using the exchange rate at the applicable date of grant, exerc ise, forfeiture or cancellation, as appropriate.
Schedule of Share-Based Compensation, RSUs, Activity	RSU activity under the 2015 Plan for the three months ended June 30, 2020 was as follows: Number of Awards Weighted Average Grant Date Fair Value Intrinsic Value (in thousands) (1) Unvested RSUs as of March 31, 2020 1,276,840 $ 43.64 $ 45,072 RSUs granted 1,584,203 $ 33.52 RSUs vested (216,892 ) $ 43.77 RSUs forfeited (68,452 ) $ 40.14 Unvested RSUs as of June 30, 2020 2,575,699 $ 37.50 $ 107,304 (1) As of June 30, 2020 and March 31, 2020, the intrinsic value of unvested shares was calculated based on the closing price of the Company’s ordinary shares on the NASDAQ Global Select Market on June 30, 2020 and March 31, 2020, respectively, multiplied by the number of unvested RSUs.
Share-Based Compensation Expense Recognized in Statements of Operations	Share-based compensation expense recognized under the 2015 Plan, Historical Plans and ESPP in the accompanying condensed consolidated statements of operations was as follows: Three months ended June 30, 2020 2019 Cost of revenue $ 1,125 $ 787 Research and development 3,884 2,549 Sales and marketing 4,437 3,782 General and administrative 4,207 2,916 Total share-based compensation expense $ 13,653 $ 10,034

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Goodwill Balance	The following is a rollforward of the Company’s goodwill balance: Goodwill Balance as of March 31, 2020 $ 150,525 Effect of foreign exchange rates 3,676 Balance as of June 30, 2020 $ 154,201
Schedule of Purchased Intangible Assets	Purchased intangible assets consist of the following: Weighted- Average June 30, 2020 Remaining Gross Net Useful Life Carrying Accumulated Carrying (in years) Value Amortization Value Developed technology 8 $ 34,106 $ (5,597 ) $ 28,509 Customer relationships 5 786 (193 ) 593 Capitalized software and other (1) (2) 3 18,910 (8,160 ) 10,750 $ 53,802 $ (13,950 ) $ 39,852 Weighted- Average March 31, 2020 Remaining Gross Net Useful Life Carrying Accumulated Carrying (in years) Value Amortization Value Developed technology 8 $ 33,269 $ (4,547 ) $ 28,722 Customer relationships 5 771 (159 ) 612 Trade names N/A 41 (41 ) — Capitalized software and other (1) (2) 3 16,849 (7,789 ) 9,060 $ 50,930 $ (12,536 ) $ 38,394 (1) As of June 30, 2020 and March 31, 2020, the net carrying value of capitalized software and other includes $1.5 million and $1.4 million, respectively, of costs capitalized related to video production costs. (2) As of June 30, 2020 and March 31, 2020, the net carrying value of capitalized software and other includes $0.2 million and $0.2 million of costs capitalized related to IP addresses.
Schedule of Future Estimated Amortization Expense of Acquired Intangible Assets	Future estimated amortization expense of intangible assets as of June 30, 2020, is as follows: Purchased Intangible Assets Capitalized Software Remainder of 2021 $ 2,940 $ 3,284 2022 3,919 3,272 2023 3,919 2,251 2024 3,865 974 2025 3,794 814 Thereafter 10,665 155 Total $ 29,102 $ 10,750

Debt (Tables)

Debt (Tables)	3 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Schedule of Future Minimum Principal Payment Obligations	Future minimum principal payment obligations under the Term Loan are as follows: Year Ending March 31, Debt Remainder of 2021 $ 5,625 2022 9,375 2023 10,000 2024 67,500 Total minimum debt payments 92,500 Less: Debt issuance costs (842 ) Less: Current portion of long-term debt (7,202 ) Long-term debt $ 84,456

Segment and Geographic Inform_2

Segment and Geographic Information (Tables)	3 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Summary of Revenue by Geographic Area	The Company allocates, for the purpose of geographic data reporting, its revenue based upon the location of the contracting subsidiary. Total revenue by geographic area was as follows: Three months ended June 30, 2020 2019 Revenue: United States $ 60,747 $ 50,416 United Kingdom 33,090 29,393 South Africa 11,175 12,526 Other 10,164 6,896 Total revenue $ 115,176 $ 99,231
Summary of Property and Equipment, Net by Geographic Location	Property and equipment, net, by geographic location consists of the following: As of June 30, As of March 31, 2020 2020 United States $ 37,507 $ 39,193 United Kingdom 29,047 29,644 South Africa 7,031 7,093 Other 12,395 9,248 Total $ 85,980 $ 85,178

Summary of Significant Accounti

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Summary Of Significant Accounting Policies [Line Items]
Proceeds from issuance of ordinary shares	$ 2,575	$ 1,431
Adjustment [Member]
Summary Of Significant Accounting Policies [Line Items]
Proceeds from issuance of ordinary shares		$ 300

Revenue and Deferred Revenue -

Revenue and Deferred Revenue - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Revenue From Contract With Customer [Abstract]
Revenue recognized included in deferred revenue	$ 80.8	$ 67.2
Contracted revenue not yet recognized	$ 98.9	$ 90.5
Contracted revenue not yet recognized, expected timing of satisfaction, explanation	The Company expects 56% of contracted and not recognized revenue to be recognized over the next twelve months, 42% in years two and three, with the remaining balance recognized thereafter.

Revenue and Deferred Revenue _2

Revenue and Deferred Revenue - Additional Information (Detail 1)	Jun. 30, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-07-01
Disaggregation Of Revenue [Line Items]
Revenue, remaining performance obligation, percentage	56.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-07-01
Disaggregation Of Revenue [Line Items]
Revenue, remaining performance obligation, percentage	42.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period	24 months

Concentration of Credit Risk _2

Concentration of Credit Risk and Off-Balance Sheet Risk - Additional Information (Detail) - Customer	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020
Risks And Uncertainties [Abstract]
Number of customers representing more than 10% of accounts receivable	0		0
Number of customers representing more than 10% of revenue	0	0

Cash, Cash Equivalents and In_2

Cash, Cash Equivalents and Investments - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Cash And Cash Equivalents [Abstract]
Cash and cash equivalents, amortized cost	$ 198,541	$ 173,958

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Additional Information (Detail) - Fair Value, Measurements, Recurring [Member] - Fair Value, Inputs, Level 3 [Member] - USD ($)	Jun. 30, 2020	Mar. 31, 2020
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Assets measured at fair value on a recurring basis	$ 0	$ 0
Liabilities measured at fair value on a recurring basis	$ 0	$ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Summary of Financial Assets Measured and Recorded at Fair Value on Recurring Basis (Detail) - Money Market Funds [Member] - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Assets:
Total assets	$ 13,939	$ 17,495
Quoted Prices in Active Markets for Identical Assets (Level 1 Inputs) [Member]
Assets:
Total assets	$ 13,939	$ 17,495

Leases - Additional Information

Leases - Additional Information (Detail)	3 Months Ended
	Jun. 30, 2020USD ($)
Lessee Lease Description [Line Items]
Operating and finance leases, existence of option to extend [true false]	true
Operating and finance leases, option to extend, description	some of which include options to extend the leases for up to 10 years.
Operating lease, lease not yet commenced, description	the Company had additional operating leases of $1.2 million, including data center leases, the terms of which have not yet commenced.
Operating lease, lease not yet commenced, value	$ 1,200,000
Finance lease, lease not yet commenced, description	the Company had no additional finance leases that have not yet commenced.
Finance lease, lease not yet commenced, value	$ 0
Minimum [Member]
Lessee Lease Description [Line Items]
Operating and finance leases, remaining lease term	1 year
Operating lease, commence lease term	2 years
Maximum [Member]
Lessee Lease Description [Line Items]
Operating and finance leases, remaining lease term	9 years
Operating and finance leases, renewal term	10 years
Operating lease, commence lease term	3 years

Leases - Schedule of Components

Leases - Schedule of Components of Lease Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Leases [Abstract]
Short-term lease cost	$ 67	$ 73
Variable lease cost	1,743	949
Operating lease cost	8,377	9,400
Finance lease cost:
Amortization of lease assets	250	309
Interest on lease liabilities	16	28
Total finance lease cost	$ 266	$ 337

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$ 9,637	$ 6,837
Operating cash outflows from finance leases	20	18
Financing cash outflows from finance leases	$ 347	$ 166

Leases - Schedule of Weighted-a

Leases - Schedule of Weighted-average Remaining Lease Term and Discount Rate (Detail)	Jun. 30, 2020	Mar. 31, 2020
Leases [Abstract]
Operating leases, Weighted-average remaining lease term	6 years 4 months 9 days	6 years 5 months 15 days
Finance leases, Weighted-average remaining lease term	1 year 21 days	1 year 3 months 21 days
Operating leases, Weighted-average discount rate	4.78%	4.74%
Finance leases, Weighted-average discount rate	4.83%	4.83%

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Lease Liabilities (Detail) $ in Thousands	Jun. 30, 2020USD ($)
Operating Leases
Remainder of 2021	$ 27,949
2022	27,910
2023	21,406
2024	14,757
2025	14,253
Thereafter	43,465
Total lease payments	149,740
Less: imputed interest	(20,496)
Total lease liabilities	129,244
Finance Leases
Remainder of 2021	735
2022	326
Total lease payments	1,061
Less: imputed interest	(27)
Total lease liabilities	$ 1,034

Internal-use Software Costs - A

Internal-use Software Costs - Additional Information (Detail) - USD ($)	3 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020
Research And Development [Abstract]
Capitalized costs	$ 0	$ 0
Implementation costs capitalized	$ 2,700,000		$ 2,900,000

Net Income (Loss) Per Ordinar_3

Net Income (Loss) Per Ordinary Share - Schedule for Calculation of Basic and Diluted Net Income (Loss) Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Net income (loss)	$ 3,138	$ (4,010)
Weighted-average number of ordinary shares used in computing net income (loss) per share applicable to ordinary shareholders - basic	63,019	61,444
Dilutive effect of share equivalents resulting from share options, RSUs and ESPP shares	1,657
Weighted-average number of ordinary shares used in computing net income (loss) per share - diluted	64,676	61,444
Net income (loss) per share applicable to ordinary shareholders:
Basic	$ 0.05	$ (0.07)
Diluted	$ 0.05	$ (0.07)

Net Income (Loss) Per Ordinar_4

Net Income (Loss) Per Ordinary Share - Dilutive Ordinary Shares Excluded from Calculation of Diluted Weighted Average Shares Outstanding (Detail) - shares shares in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Share Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive ordinary share equivalents excluded from calculation of diluted weighted-average shares outstanding	4,406	6,946
Unvested Restricted Share Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive ordinary share equivalents excluded from calculation of diluted weighted-average shares outstanding	520	1,158
ESPP Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive ordinary share equivalents excluded from calculation of diluted weighted-average shares outstanding	85	83

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2020USD ($)CompensationPlanInstallment$ / sharesshares	Jun. 30, 2019USD ($)$ / shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of share-based compensation plans | CompensationPlan	2
Weighted average per share fair value of options granted to employees | $ / shares	$ 14.31	$ 21.15
Total intrinsic value of options exercised	$ 5,400
Proceeds from exercises of share-based awards	5,000	$ 6,700
Share-based compensation expense recognized	13,653	10,034
Service-Based Vesting Conditions [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized share-based compensation expense	$ 56,100
Unrecognized share-based compensation expense, net of estimated forfeiture, period for recognition	2 years 8 months 15 days
Unvested Restricted Share Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized share-based compensation expense	$ 86,800
Unrecognized share-based compensation expense, net of estimated forfeiture, period for recognition	3 years 3 months 25 days
Unvested Restricted Share Units [Member] | Non-Employee Director [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, vesting period	3 years
Unvested Restricted Share Units [Member] | Employees [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of vesting installment for equity granted | Installment	4
2015 Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of options available for future grant | shares	7,927,616
2015 Plan [Member] | Share Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Ordinary shares reserved for future issuance | shares	5,500,000
Increase in number of shares reserved and available for issuance, percentage	5.00%
Share-based compensation arrangement by share-based payment award, term	10 years
Share-based compensation arrangement by share-based payment award, vesting period	4 years
2015 Employee Share Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, term	6 months
Ordinary shares reserved and authorized for issuance | shares	1,100,000
Authorized payroll deductions percentage	10.00%
Percentage of fair market value of shares to be considered as share price	85.00%
Number of options available for future grant | shares	700,000
Share-based compensation expense recognized	$ 500	400
Cash proceeds from shares issued in connection with ESPP	$ 3,100	$ 2,500
2015 Employee Share Purchase Plan [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Authorized payroll deductions percentage	1.00%

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Weighted-Average Assumption Utilized to Determine Fair Value of Option (Detail) - $ / shares	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions And Methodology [Abstract]
Expected term (in years)	6 years 1 month 6 days	6 years 1 month 6 days
Risk-free interest rate	0.60%	2.40%
Expected volatility	44.60%	42.80%
Estimated grant date fair value per ordinary share	$ 33.43	$ 47.30

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Share-Based Compensation, Stock Options, Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of Awards, Beginning balance	6,271,111
Number of Awards, Options granted	766,987
Number of Awards, Options exercised	(249,085)
Number of Awards, Options forfeited and cancelled	(144,884)
Number of Awards, Ending balance	6,644,129	6,271,111
Number of Awards, Exercisable	2,924,395
Weighted Average Exercise Price, Beginning balance	$ 31.61
Weighted Average Exercise Price, Options granted	33.43
Weighted Average Exercise Price, Options exercised	20.23
Weighted Average Exercise Price, Options forfeited and cancelled	38.68
Weighted Average Exercise Price, Ending balance	32.10	$ 31.61
Weighted Average Exercise Price Exercisable	$ 24.09
Weighted Average Remaining Contractual Term, Outstanding	7 years 6 months 14 days	7 years 6 months 18 days
Weighted Average Remaining Contractual Term, Exercisable	6 years 4 months 28 days
Aggregate Intrinsic Value, Outstanding	$ 72,681	$ 47,621
Aggregate Intrinsic Value, Exercisable	$ 53,358

Share-Based Compensation - Sc_2

Share-Based Compensation - Schedule of Share-Based Compensation, RSUs, Activity (Detail) - Restricted Share Units (RSUs) [Member] $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2020USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of Awards Unvested, RSUs Beginning balance | shares	1,276,840
Number of Awards, RSUs granted | shares	1,584,203
Number of Awards, RSUs vested | shares	(216,892)
Number of Awards, RSUs forfeited | shares	(68,452)
Number of Awards, Unvested RSUs, Ending balance | shares	2,575,699
Weighted Average Grant Date Fair Value, Unvested RSUs, Beginning balance | $ / shares	$ 43.64
Weighted Average Grant Date Fair Value, RSUs granted | $ / shares	33.52
Weighted Average Grant Date Fair Value, RSUs vested | $ / shares	43.77
Weighted Average Grant Date Fair Value, RSUs forfeited | $ / shares	40.14
Weighted Average Grant Date Fair Value, Unvested RSUs, Ending balance | $ / shares	$ 37.50
Intrinsic Value, Unvested RSUs, Beginning balance | $	$ 45,072
Intrinsic Value, Unvested RSUs, Ending Balance | $	$ 107,304

Share-Based Compensation - Shar

Share-Based Compensation - Share-Based Compensation Expense Recognized in Statements of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	$ 13,653	$ 10,034
Cost of Revenue [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	1,125	787
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	3,884	2,549
Sales and Marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	4,437	3,782
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	$ 4,207	$ 2,916

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands	Jan. 03, 2020	Nov. 13, 2019	Jun. 30, 2020	Mar. 31, 2020
Business Acquisition [Line Items]
Goodwill			$ 154,201	$ 150,525
Developed Technology [Member]
Business Acquisition [Line Items]
Estimated Useful Life (in years)			8 years	8 years
Customer Relationships [Member]
Business Acquisition [Line Items]
Estimated Useful Life (in years)			5 years	5 years
Segasec Labs Ltd. [Member]
Business Acquisition [Line Items]
Estimated fair values of identifiable intangible assets, amount	$ 6,800
Goodwill	24,000
Segasec Labs Ltd. [Member] | Developed Technology [Member]
Business Acquisition [Line Items]
Estimated fair values of identifiable intangible assets, amount	$ 6,700
Estimated Useful Life (in years)	8 years 3 months 18 days
Segasec Labs Ltd. [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Estimated fair values of identifiable intangible assets, amount	$ 100
Estimated Useful Life (in years)	6 years 3 months 18 days
Segasec Labs Ltd. [Member] | Israel [Member]
Business Acquisition [Line Items]
Business acquisition, effective date of acquisition	Jan. 3, 2020
Ownership interest before acquisition	15.40%
Fair value of previously held asset	$ 3,000
Cash payment	24,200
Net of cash acquired	$ 4,300
DMARC Analyzer B.V. [Member]
Business Acquisition [Line Items]
Estimated fair values of identifiable intangible assets, amount		$ 3,400
Goodwill		18,900
DMARC Analyzer B.V. [Member] | Developed Technology [Member]
Business Acquisition [Line Items]
Estimated fair values of identifiable intangible assets, amount		$ 3,200
Estimated Useful Life (in years)		7 years 6 months
DMARC Analyzer B.V. [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Estimated fair values of identifiable intangible assets, amount		$ 200
Estimated Useful Life (in years)		5 years 6 months
DMARC Analyzer B.V. [Member] | Netherlands [Member]
Business Acquisition [Line Items]
Business acquisition, effective date of acquisition		Nov. 13, 2019
Cash payment		$ 21,100
Net of cash acquired		$ 400

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Goodwill Balance (Detail) $ in Thousands	3 Months Ended
	Jun. 30, 2020USD ($)
Goodwill Roll Forward
Beginning balance	$ 150,525
Effect of foreign exchange rates	3,676
Ending balance	$ 154,201

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Intangible Assets (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020
Finite Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross Carrying Value	$ 53,802	$ 50,930
Accumulated Amortization	(13,950)	(12,536)
Finite-Lived Intangible Assets, Net Carrying Value	$ 39,852	$ 38,394
Developed Technology [Member]
Finite Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Life (in years)	8 years	8 years
Finite-Lived Intangible Assets, Gross Carrying Value	$ 34,106	$ 33,269
Accumulated Amortization	(5,597)	(4,547)
Finite-Lived Intangible Assets, Net Carrying Value	$ 28,509	$ 28,722
Customer Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Life (in years)	5 years	5 years
Finite-Lived Intangible Assets, Gross Carrying Value	$ 786	$ 771
Accumulated Amortization	(193)	(159)
Finite-Lived Intangible Assets, Net Carrying Value	$ 593	$ 612
Capitalized Software and Other [Member]
Finite Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Life (in years)	3 years	3 years
Finite-Lived Intangible Assets, Gross Carrying Value	$ 18,910	$ 16,849
Accumulated Amortization	(8,160)	(7,789)
Finite-Lived Intangible Assets, Net Carrying Value	$ 10,750	9,060
Trade Names
Finite Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross Carrying Value		41
Accumulated Amortization		$ (41)

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Intangible Assets (Parenthetical) (Detail) - USD ($) $ in Millions	Jun. 30, 2020	Mar. 31, 2020
Video Production Costs [Member]
Finite Lived Intangible Assets [Line Items]
Capitalized software and other cost	$ 1.5	$ 1.4
IP Addresses [Member]
Finite Lived Intangible Assets [Line Items]
Capitalized software and other cost	$ 0.2	$ 0.2

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense	$ 2.1	$ 1.5

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets - Schedule of Future Estimated Amortization Expense of Acquired Intangible Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Finite Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Net Carrying Value	$ 39,852	$ 38,394
Purchased Intangible Assets [Member]
Finite Lived Intangible Assets [Line Items]
Remainder of 2021	2,940
2022	3,919
2023	3,919
2024	3,865
2025	3,794
Thereafter	10,665
Finite-Lived Intangible Assets, Net Carrying Value	29,102
Capitalized Software [Member]
Finite Lived Intangible Assets [Line Items]
Remainder of 2021	3,284
2022	3,272
2023	2,251
2024	974
2025	814
Thereafter	155
Finite-Lived Intangible Assets, Net Carrying Value	$ 10,750

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	Jul. 23, 2018	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020	Jul. 28, 2020
Senior Secured Term Loan [Member]
Debt Instrument [Line Items]
Outstanding borrowings		$ 92,500,000
Debt issuance costs		842,000		$ 900,000
Senior Secured Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Outstanding borrowings		0
Amount available under credit facility		48,000,000
Interest expense		700,000	$ 1,100,000
Senior Secured Revolving Credit Facility [Member] | Other Assets [Member]
Debt Instrument [Line Items]
Debt issuance costs		500,000		$ 500,000
Senior Secured Revolving Credit Facility [Member] | Letter of Credit [Member]
Debt Instrument [Line Items]
Outstanding borrowings		$ 2,000,000
Senior Secured Revolving Credit Facility [Member] | Maestro Private Limited [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Drew down under credit facility					$ 17,500,000
Credit Agreement with Certain Lenders [Member]
Debt Instrument [Line Items]
Credit facility term	5 years
Credit facility maturity date	Jul. 23, 2023
Credit facility current interest rate		1.375%		1.375%
Credit Agreement with Certain Lenders [Member] | Senior Secured Term Loan [Member]
Debt Instrument [Line Items]
Credit facility amount	$ 100,000,000
Credit Agreement with Certain Lenders [Member] | Senior Secured Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility amount	$ 50,000,000

Debt - Schedule of Future Minim

Debt - Schedule of Future Minimum Principal Payment Obligations (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Debt Instrument [Line Items]
Less: Current portion of long-term debt	$ (7,202)	$ (6,573)
Long-term debt	84,456	86,258
Senior Secured Term Loan [Member]
Debt Instrument [Line Items]
Remainder of 2021	5,625
2022	9,375
2023	10,000
2024	67,500
Total minimum debt payments	92,500
Less: Debt issuance costs	(842)	$ (900)
Less: Current portion of long-term debt	(7,202)
Long-term debt	$ 84,456

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - Patented Technology [Member] - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Commitments And Contingencies [Line Items]
Incremental expense	$ 2.7	$ 1
Aggregate payment of litigation settlement	5.9
Remaining amortization expense	$ 2.2
Weighted-Average Remaining Useful Life (in years)	3 years 6 months

Segment and Geographic Inform_3

Segment and Geographic Information - Summary of Revenue by Geographic Area (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	$ 115,176	$ 99,231
United States [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	60,747	50,416
United Kingdom [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	33,090	29,393
South Africa [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	11,175	12,526
Other [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	$ 10,164	$ 6,896

Segment and Geographic Inform_4

Segment and Geographic Information - Summary of Property and Equipment, Net by Geographic Location (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Segment Reporting, Asset Reconciling Item [Line Items]
Property, plant and equipment, net	$ 85,980	$ 85,178
United States [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Property, plant and equipment, net	37,507	39,193
United Kingdom [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Property, plant and equipment, net	29,047	29,644
South Africa [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Property, plant and equipment, net	7,031	7,093
Other [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Property, plant and equipment, net	$ 12,395	$ 9,248

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 613,000	$ 230,000
Income (loss) before income taxes	3,751,000	(3,780,000)
Excess tax benefits on non-qualified share option exercises	400,000	$ 600,000
Liabilities for uncertain tax positions	0
Liabilities for uncertain tax positions that would impact effective tax rate if recognized	$ 0

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - MessageControl [Member] - Subsequent Event [Member] - USD ($) $ in Millions	Jul. 29, 2020	Jul. 28, 2020
Subsequent Event [Line Items]
Preliminary purchase price, net of cash acquired	$ 17
Senior Secured Revolving Credit Facility [Member]
Subsequent Event [Line Items]
Drew down under credit facility		$ 17.5