Dynatrace (DT) 10-Q 28 Jul 21 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Jun. 30, 2021	Jul. 26, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-39010
Entity Registrant Name	Dynatrace, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-2386428
Entity Address, Address Line One	1601 Trapelo Road, Suite 116
Entity Address, Postal Zip Code	02451
Entity Address, City or Town	Waltham
Entity Address, State or Province	MA
City Area Code	617
Local Phone Number	530-1000
Title of 12(b) Security	Common stock, par value $0.001 per share
Trading Symbol	DT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		284,286,347
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001773383
Current Fiscal Year End Date	--03-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021
Current assets:
Cash and cash equivalents	$ 387,218	$ 324,962
Accounts receivable, net	134,003	242,079
Deferred commissions, current	50,987	48,986
Prepaid expenses and other current assets	65,838	64,255
Total current assets	638,046	680,282
Property and equipment, net	37,841	36,916
Operating lease right-of-use asset, net	48,338	42,959
Goodwill	1,275,133	1,271,195
Other intangible assets, net	137,993	149,484
Deferred tax assets, net	17,012	16,811
Deferred commissions, non-current	50,001	48,638
Other assets	9,735	9,933
Total assets	2,214,099	2,256,218
Current liabilities:
Accounts payable	3,431	9,621
Accrued expenses, current	98,955	119,527
Deferred revenue, current	486,066	509,272
Operating lease liabilities, current	10,420	9,491
Total current liabilities	598,872	647,911
Deferred revenue, non-current	33,683	47,504
Accrued expenses, non-current	16,349	16,072
Operating lease liabilities, non-current	42,823	38,203
Deferred tax liabilities	1,014	1,014
Long-term debt	362,404	391,913
Total liabilities	1,055,145	1,142,617
Commitments and contingencies (Note 8)
Shareholders' equity:
Common shares	284	283
Additional paid-in capital	1,687,044	1,653,328
Accumulated deficit	(500,505)	(513,799)
Accumulated other comprehensive loss	(27,869)	(26,211)
Total shareholders' equity	1,158,954	1,113,601
Total liabilities and shareholders' equity	$ 2,214,099	$ 2,256,218

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2021	Mar. 31, 2021
Statement of Financial Position [Abstract]
Par value (in dollars per share)	$ 0.001	$ 0.001
Common shares, authorized (in shares)	600,000,000	600,000,000
Common shares, issued (in shares)	284,217,750	283,130,238
Common shares, outstanding (in shares)	284,217,750	283,130,238

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Revenue:
Total revenue	$ 209,740	$ 155,508
Cost of revenue:
Amortization of acquired technology	3,830	3,826
Total cost of revenue	38,833	28,542
Gross profit	170,907	126,966
Operating expenses:
Research and development	34,725	23,505
Sales and marketing	80,482	49,163
General and administrative	26,922	21,527
Amortization of other intangibles	7,540	8,686
Restructuring and other	26	(21)
Total operating expenses	149,695	102,860
Income from operations	21,212	24,106
Interest expense, net	(2,857)	(4,113)
Other income, net	1,311	19
Income before income taxes	19,666	20,012
Income tax expense	(6,372)	(7,147)
Net income	$ 13,294	$ 12,865
Net income per share:
Basic (in dollars per share)	$ 0.05	$ 0.05
Diluted (in dollars per share)	$ 0.05	$ 0.05
Weighted average shares outstanding:
Basic (in shares)	282,661	279,069
Diluted (in shares)	288,988	284,309
Subscription
Revenue:
Total revenue	$ 196,520	$ 144,357
Cost of revenue:
Cost of revenues	24,982	16,706
License
Revenue:
Total revenue	50	638
Service
Revenue:
Total revenue	13,170	10,513
Cost of revenue:
Cost of revenues	$ 10,021	$ 8,010

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 13,294	$ 12,865
Other comprehensive loss
Foreign currency translation adjustment	(1,658)	(2,342)
Total other comprehensive loss	(1,658)	(2,342)
Comprehensive income	$ 11,636	$ 10,523

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Shares	Additional  Paid-In Capital	Accumulated Deficit	Accumulated DeficitCumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Mar. 31, 2020			280,853,000
Beginning balance at Mar. 31, 2020	$ 965,704	$ 306	$ 281	$ 1,573,347	$ (589,819)	$ 306	$ (18,105)
Increase (Decrease) in Partners' Capital [Roll Forward]
Foreign currency translation	(2,342)						(2,342)
Restricted stock units vested (in shares)			132,000
Restricted stock awards forfeited (in shares)			(88,000)
Issuance of common stock related to employee stock purchase plan (in shares)			159,000
Issuance of common stock related to employee stock purchase plan	3,592			3,592
Share-based compensation	12,672			12,672
Equity repurchases	(13)			(13)
Net income	12,865				12,865
Ending balance (in shares) at Jun. 30, 2020			281,056,000
Ending balance at Jun. 30, 2020	$ 992,784		$ 281	1,589,598	(576,648)		(20,447)
Beginning balance (in shares) at Mar. 31, 2021	283,130,238		283,130,000
Beginning balance at Mar. 31, 2021	$ 1,113,601		$ 283	1,653,328	(513,799)		(26,211)
Increase (Decrease) in Partners' Capital [Roll Forward]
Foreign currency translation	(1,658)						(1,658)
Restricted stock units vested (in shares)			496,000
Restricted stock units vested	0		$ 1	(1)
Issuance of common stock related to employee stock purchase plan (in shares)			204,000
Issuance of common stock related to employee stock purchase plan	$ 6,593			6,593
Exercise of stock options (in shares)	388,000		388,000
Exercise of stock options	$ 7,886			7,886
Share-based compensation	19,252			19,252
Equity repurchases	(14)			(14)
Net income	$ 13,294				13,294
Ending balance (in shares) at Jun. 30, 2021	284,217,750		284,218,000
Ending balance at Jun. 30, 2021	$ 1,158,954		$ 284	$ 1,687,044	$ (500,505)		$ (27,869)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net income	$ 13,294	$ 12,865
Adjustments to reconcile net income to cash provided by operations:
Depreciation	2,475	1,590
Amortization	11,512	13,019
Share-based compensation	19,252	12,672
Deferred income taxes	(2)	(175)
Other	(794)	466
Net change in operating assets and liabilities:
Accounts receivable	110,079	64,265
Deferred commissions	(2,631)	2,229
Prepaid expenses and other assets	(1,453)	275
Accounts payable and accrued expenses	(27,376)	(23,212)
Operating leases, net	131	311
Deferred revenue	(41,015)	(47,297)
Net cash provided by operating activities	83,472	37,008
Cash flows from investing activities:
Purchase of property and equipment	(2,954)	(4,418)
Capitalized software additions	0	(131)
Acquisition of business, net of cash acquired	(3,543)	0
Net cash used in investing activities	(6,497)	(4,549)
Cash flows from financing activities:
Repayment of term loans	(30,000)	0
Proceeds from employee stock purchase plan	6,593	3,592
Proceeds from exercise of stock options	7,886	0
Equity repurchases	(14)	(13)
Net cash (used in) provided by financing activities	(15,535)	3,579
Effect of exchange rates on cash and cash equivalents	816	1,169
Net increase in cash and cash equivalents	62,256	37,207
Cash and cash equivalents, beginning of period	324,962	213,170
Cash and cash equivalents, end of period	387,218	250,377
Supplemental cash flow data:
Cash paid for interest	2,370	3,763
Cash paid for tax, net	$ 5,403	$ 10,127

Description of the Business

Description of the Business	3 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the Business	Description of the Business Business Dynatrace, Inc. (“Dynatrace”, or the “Company”) offers an observability platform, purpose-built for modern multicloud environments. The Company designed its all-in-one Dynatrace ® Software Intelligence Platform to address the growing complexity faced by technology and digital business teams as these enterprises further embrace the cloud to effect their digital transformation. The Company’s platform does so by utilizing artificial intelligence at its core and continuous automation to deliver precise answers about the performance and security of applications, the underlying infrastructure, and the experience of its customers’ users that enables organizations to innovate faster, operate more efficiently, and improve user experiences for consistently better business outcomes. Fiscal year The Company’s fiscal year ends on March 31. References to fiscal 2022, for example, refer to the fiscal year ended March 31, 2022.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of presentation and consolidation The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. All intercompany balances and transactions have been eliminated in the accompanying condensed consolidated financial statements. Unaudited interim consolidated financial information The accompanying interim condensed consolidated balance sheet as of June 30, 2021 and the interim condensed consolidated statements of operations, statements of comprehensive income, and statements of shareholders’ equity for the three months ended June 30, 2021 and 2020, statements of cash flows for the three months ended June 30, 2021 and 2020, and the related disclosures, are unaudited. In management’s opinion, the unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and includes all normal and recurring adjustments necessary for the fair presentation of the Company’s financial position as of June 30, 2021, its results of operations for the three months ended June 30, 2021 and 2020, and its cash flows for the three months ended June 30, 2021 and 2020 in accordance with U.S. GAAP. The results for the three months ended June 30, 2021 are not necessarily indicative of the results to be expected for the full fiscal year or any other interim period. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2021 (“Annual Report”). Use of estimates The preparation of unaudited condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, the disclosure of contingent assets and liabilities as of the date of the unaudited condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Management periodically evaluates such estimates and assumptions for continued reasonableness. In particular, the Company makes estimates with respect to the stand-alone selling price for each distinct performance obligation in customer contracts with multiple performance obligations, the uncollectible accounts receivable, the fair value of tangible and intangible assets acquired, valuation of long-lived assets, the period of benefit for deferred commissions and material rights, equity-based compensation expense, income taxes, and the determination of the incremental borrowing rate used for operating lease liabilities, among other things. Appropriate adjustments, if any, to the estimates used are made prospectively based upon such periodic evaluation. Actual results could differ from those estimates. Significant accounting policies The Company’s significant accounting policies are discussed in Note 2, “Significant Accounting Policies” in the Company’s Annual Report. There have been no changes to the Company’s significant accounting policies described in the Company’s Annual Report that have had a material impact on its condensed consolidated financial statements and related notes. Recently adopted accounting pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which removes certain exceptions for investments, intraperiod allocations and interim calculations, and adds guidance to reduce complexity in accounting for income taxes. ASU 2019-12 is effective for annual periods, and interim periods within those years, beginning after December 15, 2020. The Company adopted the new standard on a prospective basis as of April 1, 2021. The adoption did not have a material impact on the consolidated financial statements.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Disaggregation of revenue The following table is a summary of the Company’s total revenues by geographic region (in thousands, except percentages): Three Months Ended June 30, 2021 2020 Amount % Amount % North America $ 112,772 53 % $ 87,377 56 % Europe, Middle East and Africa 67,044 32 % 47,071 30 % Asia Pacific 22,136 11 % 16,940 11 % Latin America 7,788 4 % 4,120 3 % Total revenue $ 209,740 $ 155,508 For the three months ended June 30, 2021 and 2020, the United States was the only country that represented more than 10% of the Company’s revenues in any period, constituting $104.5 million and 50% and $82.0 million and 53% of total revenue during the three months ended June 30, 2021 and 2020, respectively. Deferred revenue Revenues recognized during the three months ended June 30, 2021 and 2020 which was included in the deferred revenue balances at the beginning of each respective period, was $199.5 million and $146.3 million, respectively. Remaining performance obligations As of June 30, 2021, the aggregate amount of the transaction price allocated to remaining performance obligations was $1,252.0 million, which consists of both billed consideration in the amount of $519.7 million and unbilled consideration in the amount of $732.3 million that the Company expects to recognize as subscription and service revenue. The Company expects to recognize 57% of this amount as revenue over the next twelve months and the remainder thereafter.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets, Net	3 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets, Net	Goodwill and Other Intangible Assets, Net Changes in the carrying amount of goodwill on a consolidated basis for the three months ended June 30, 2021 consists of the following (in thousands): June 30, 2021 Balance, beginning of period $ 1,271,195 Goodwill from acquisitions (1) 3,524 Foreign currency impact 414 Balance, end of period $ 1,275,133 _________________ (1) The initial allocation of the purchase price from acquisition was based on preliminary valuations and assumptions and is subject to change. The Company expects to finalize the allocation of the purchase price within the measurement period. Other intangible assets, net excluding goodwill consists of the following (in thousands): Weighted June 30, 2021 March 31, 2021 Capitalized software 107 $ 189,438 $ 189,398 Customer relationships 120 351,555 351,555 Trademarks and tradenames 120 55,003 55,003 Total intangible assets 595,996 595,956 Less: accumulated amortization (458,003) (446,472) Total other intangible assets, net $ 137,993 $ 149,484

Income Taxes

Income Taxes	3 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company computes its interim provision for income taxes by applying the estimated annual effective tax rate to income from operations and adjusts the provision for discrete tax items occurring in the period. The Company’s effective tax rate for the three months ended June 30, 2021 was 32% compared to 36% for the three months ended June 30, 2020. Based on the Company’s review of both positive and negative evidence regarding the realizability of deferred tax assets at June 30, 2021, a valuation allowance continues to be recorded against certain deferred tax assets based upon the conclusion that it was more likely than not that these assets would not be realized. The valuation allowance at June 30, 2021 relates primarily to accrued interest, capitalized development costs, and foreign tax credits. Given the Company’s current earnings and anticipated future earnings, it is reasonably possible that within the next twelve months sufficient positive evidence may become available to allow the Company to conclude that a significant portion of the valuation allowance will no longer be needed. Release of the valuation allowance would result in the recognition of certain deferred tax assets. However, the exact timing and amount of the valuation allowance release are subject to change based on the Company’s growth and profitability.

Long-term Debt

Long-term Debt	3 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt Long-term debt consists of the following (in thousands, except percentages): June 30, 2021 March 31, 2021 Amount Effective Rate Amount Effective Rate First Lien Term Loan $ 371,125 2.4 % $ 401,125 2.4 % Revolving credit facility — — Total principal 371,125 401,125 Unamortized discount and debt issuance costs (8,721) (9,212) Total debt 362,404 391,913 Less: Current portion of long-term debt — — Long-term debt $ 362,404 $ 391,913 First lien credit facilities The Company’s First Lien Credit Agreement, as amended, provides for a term loan facility, or the First Lien Term Loan, in an aggregate principal amount of $950.0 million and a senior secured revolving credit facility, or the Revolving Facility, in an aggregate amount of $60.0 million. The Revolving Facility includes a $25.0 million letter of credit sub-facility. The First Lien Term Loan and Revolving Facility mature on August 23, 2025 and August 23, 2023, respectively. There were $15.6 million letters of credit issued as of both June 30, 2021 and March 31, 2021. The Company had $44.4 million of availability under the Revolving Facility as of both June 30, 2021 and March 31, 2021. Borrowings under the First Lien Term Loan and the Revolving Facility currently bear interest, at the Company’s election, at either (i) the Alternative Base Rate, as defined per the credit agreement, plus 1.25% per annum, or (ii) LIBOR plus 2.25% per annum. The Company has satisfied all required principal payments under the First Lien Term Loan and the remainder is due at maturity. Interest payments are due quarterly, or more frequently, based on the terms of the credit agreement. The Company incurs fees with respect to the Revolving Facility, including (i) a commitment fee of 0.25% per annum of unused commitments under the Revolving Facility, (ii) facility fees equal to the applicable margin in effect for Eurodollar Rate Loans, as defined per the credit agreement, times the average daily stated amount of letters of credit, (iii) a fronting fee equal to either (a) 0.125% per annum on the stated amount of each letter of credit or (b) such other rate per annum as agreed to by the parties subject to the letters of credit, and (iv) customary administrative fees. All of the indebtedness under the First Lien Credit Agreement is and will be guaranteed by the Company’s existing and future material domestic subsidiaries and is and will be secured by substantially all of the assets of the Company and such guarantors. The First Lien Credit Agreement contains customary negative covenants. At June 30, 2021, the Company was in compliance with all applicable covenants.

Leases

Leases	3 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Leases	Leases The Company leases office space under non-cancelable operating leases which expire at various dates from fiscal 2022 to 2032. As of June 30, 2021, the weighted average remaining lease term was 5.8 years and the weighted average discount rate was 7.1%. The Company does not have any finance leases as of June 30, 2021. The Company also has subleases of former offices which expire at various dates from fiscal 2022 to fiscal 2025. Sublease income from operating leases, which is recorded as a reduction of rental expense, was $0.6 million and $1.2 million for the three months ended June 30, 2021 and 2020, respectively. The following table presents information about leases on the condensed consolidated statements of operations (in thousands): Three Months Ended June 30, 2021 2020 Operating lease expense (1) $ 2,469 $ 2,643 Short-term lease expense $ 195 $ 68 Variable lease expense $ 161 $ 200 _________________ (1) Presented gross of sublease income. The following table presents supplemental cash flow information about the Company’s leases (in thousands): Three Months Ended June 30, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities $ 3,191 $ 3,032 Operating lease assets obtained in exchange for new operating lease liabilities (1) $ 7,533 $ — _________________ (1) Includes the impact of new leases as well as remeasurements and modifications of existing leases. As of June 30, 2021, remaining maturities of lease liabilities were as follows (in thousands): Fiscal Years Ending March 31, Amount 2022 $ 9,809 2023 12,906 2024 11,800 2025 8,642 2026 5,987 Thereafter 14,418 Total operating lease payments (1) 63,562 Less: imputed interest (10,319) Total operating lease liabilities $ 53,243 _________________ (1) Presented gross of sublease income. As of June 30, 2021, the Company had commitments of $6.6 million for operating leases that have not yet commenced, and therefore are not included in the right-of-use assets or operating lease liabilities. These operating leases are expected to commence during the fiscal years ended March 31, 2022 and March 31, 2023, with lease terms ranging from 2 to 10 years.
Leases	Leases The Company leases office space under non-cancelable operating leases which expire at various dates from fiscal 2022 to 2032. As of June 30, 2021, the weighted average remaining lease term was 5.8 years and the weighted average discount rate was 7.1%. The Company does not have any finance leases as of June 30, 2021. The Company also has subleases of former offices which expire at various dates from fiscal 2022 to fiscal 2025. Sublease income from operating leases, which is recorded as a reduction of rental expense, was $0.6 million and $1.2 million for the three months ended June 30, 2021 and 2020, respectively. The following table presents information about leases on the condensed consolidated statements of operations (in thousands): Three Months Ended June 30, 2021 2020 Operating lease expense (1) $ 2,469 $ 2,643 Short-term lease expense $ 195 $ 68 Variable lease expense $ 161 $ 200 _________________ (1) Presented gross of sublease income. The following table presents supplemental cash flow information about the Company’s leases (in thousands): Three Months Ended June 30, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities $ 3,191 $ 3,032 Operating lease assets obtained in exchange for new operating lease liabilities (1) $ 7,533 $ — _________________ (1) Includes the impact of new leases as well as remeasurements and modifications of existing leases. As of June 30, 2021, remaining maturities of lease liabilities were as follows (in thousands): Fiscal Years Ending March 31, Amount 2022 $ 9,809 2023 12,906 2024 11,800 2025 8,642 2026 5,987 Thereafter 14,418 Total operating lease payments (1) 63,562 Less: imputed interest (10,319) Total operating lease liabilities $ 53,243 _________________ (1) Presented gross of sublease income. As of June 30, 2021, the Company had commitments of $6.6 million for operating leases that have not yet commenced, and therefore are not included in the right-of-use assets or operating lease liabilities. These operating leases are expected to commence during the fiscal years ended March 31, 2022 and March 31, 2023, with lease terms ranging from 2 to 10 years.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal matters From time to time, the Company may be a party to lawsuits and legal proceedings arising in the ordinary course of business. In the opinion of the Company’s management, these matters, individually and in the aggregate, will not have a material adverse effect on the financial condition and results of the future operations of the Company.

Share-based Compensation

Share-based Compensation	3 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Share-based Compensation	Share-based Compensation Amended and Restated 2019 Equity Incentive Plan In July 2019, the Company’s board of directors (the “Board”), upon the recommendation of the compensation committee of the board of directors, adopted the 2019 Equity Incentive Plan, as amended and restated (the “2019 Plan”) which was subsequently approved by the Company’s shareholders and was later amended and restated by the Board in January 2021. The Company initially reserved 52,000,000 shares of common stock, or the Initial Limit, for the issuance of awards under the 2019 Plan. The 2019 Plan provides that the number of shares reserved and available for issuance under the plan will automatically increase each April 1, beginning on April 1, 2020, by 4% of the outstanding number of shares of the Company’s common stock on the immediately preceding March 31 or such lesser number determined by the compensation committee. This number is subject to adjustment in the event of a stock split, stock dividend or other change in the Company’s capitalization. As of June 30, 2021, 38,554,389 shares of common stock were available for future issuance under the 2019 Plan. Stock options The following table summarizes activity for stock options during the period ended June 30, 2021: Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (per share) (years) (in thousands) Balance, March 31, 2021 8,393 $ 21.31 8.6 $ 226,438 Granted 92 51.41 Exercised (388) 19.62 Forfeited (96) 20.44 Balance, June 30, 2021 8,001 $ 21.75 8.3 $ 293,405 Options vested and expected to vest at June 30, 2021 8,001 $ 21.75 8.3 $ 293,405 Options vested and exercisable at June 30, 2021 2,322 $ 19.25 8.2 $ 90,955 As of June 30, 2021, the total unrecognized compensation expense related to non-vested stock options is $47.3 million and is expected to be recognized over a weighted average period of 2.4 years. The Company recognized $4.7 million and $3.3 million of share-based compensation expense related to stock options for the three months ended June 30, 2021 and 2020, respectively. Restricted shares and units During the first three months of fiscal 2022, the Company granted an aggregate of 2,364,462 restricted stock units (“RSUs”) to certain key employees and non-employee directors. The total grants consisted of: (i) 1,560,662 time-based restricted stock units that vest 25% one year after the grant date and the remaining 75% vest ratably on a quarterly basis over three three one three The Incentive PSUs vest in three equal installments, with one-third of the Incentive PSUs eligible to vest on each of the first three The number of shares that may be earned pursuant to the Annual PSUs is based on specific company metrics related to the Company’s fiscal year ending March 31, 2022. No Annual PSUs will be earned with respect to any metric if the applicable “threshold” percentage of the specific metric is not achieved, and the overall number of shares that may be earned shall not exceed 150% of the target award. Once the Annual PSUs are earned, they are then also subject to time-based vesting, with 25% of the earned Annual PSUs vesting on the first anniversary of the grant date, and with the remaining 75% vesting in twelve equal quarterly installments over the following three years, and provided that the executive officer remains employed by the Company through the applicable vesting date. Compensation expense for the Incentive PSUs and Annual PSUs is measured using the fair value at the date of grant and recorded over the vesting period of three The following table provides a summary of the changes in the number of restricted shares for the period ended June 30, 2021: Number of Shares of Weighted Average Grant Date Fair Value Number of Restricted Stock Units Weighted Average (in thousands) (per share) (in thousands) (per share) Balance, March 31, 2021 728 $ 16.00 3,041 $ 24.44 Granted — — 2,364 46.89 Vested (260) 16.00 (496) 25.46 Forfeited — — (85) 23.78 Balance, June 30, 2021 468 $ 16.00 4,824 $ 35.35 As of June 30, 2021, the total unrecognized compensation expense related to unvested restricted stock is $6.6 million and is expected to be recognized over a weighted average period of 1.2 years. As of June 30, 2021, the total unrecognized compensation expense related to unvested restricted stock units is $160.3 million and is expected to be recognized over a weighted average period of 2.8 years. The Company recognized $13.5 million and $8.8 million of share-based compensation expense related to restricted shares and units for the three months ended June 30, 2021 and 2020, respectively. Employee Stock Purchase Plan In July 2019, the board of directors adopted, and the Company’s shareholders approved, the 2019 Employee Stock Purchase Plan (“ESPP”). The Company expects to offer, sell and issue shares of common stock under this ESPP from time to time based on various factors and conditions, although the Company is under no obligation to sell any shares under this ESPP. The ESPP provides for six-month offering periods beginning May 15 and November 15 of each year, and each offering period will consist of six As of June 30, 2021, there was approximately $2.1 million of unrecognized share-based compensation related to the ESPP that is expected to be recognized over the remaining term of the current offering period. The Company recognized $1.1 million and $0.5 million of share-based compensation expense related to the ESPP for the three months ended June 30, 2021 and 2020, respectively. Share-based compensation The following table summarizes the components of total share-based compensation expense included in the condensed consolidated financial statements for each period presented (in thousands): Three Months Ended June 30, 2021 2020 Cost of revenue $ 2,652 $ 1,498 Research and development 3,967 2,418 Sales and marketing 7,608 5,405 General and administrative 5,025 3,351 Total share-based compensation expense $ 19,252 $ 12,672

Net Income Per Share

Net Income Per Share	3 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share Basic net income per share is calculated by dividing the net income for the period by the weighted-average number of common shares outstanding during the period, without consideration of potentially dilutive securities. Diluted net income per share includes the dilutive effect of common share equivalents and is calculated using the weighted-average number of common shares and the common share equivalents outstanding during the reporting period. An anti-dilutive impact is an increase in net income per share or a reduction in net loss per share resulting from the conversion, exercise, or contingent issuance of certain securities. The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share data): Three Months Ended June 30, 2021 2020 Numerator: Net income $ 13,294 $ 12,865 Denominator: Weighted average shares outstanding, basic 282,661 279,069 Dilutive effect of stock-based awards 6,327 5,240 Weighted average shares outstanding, diluted 288,988 284,309 Net income per share, basic $ 0.05 $ 0.05 Net income per share, diluted $ 0.05 $ 0.05 The effect of certain common share equivalents were excluded from the computation of weighted average diluted shares outstanding for the three months ended June 30, 2021 and 2020 as inclusion would have resulted in anti-dilution. A summary of these weighted-average anti-dilutive common share equivalents is provided in the table below (in thousands): Three Months Ended June 30, 2021 2020 Stock options 318 1,200 Unvested restricted stock and RSUs 32 3 Shares committed under ESPP 3 61

Geographic Information

Geographic Information	3 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Geographic Information	Geographic Information Revenue Revenues by geography are based on legal jurisdiction. Refer to Note 3, “Revenue Recognition” for a disaggregation of revenue by geographic region. Property and equipment, net The following tables present property and equipment by geographic region for the periods presented (in thousands): June 30, 2021 March 31, 2021 North America $ 12,469 $ 12,129 Europe, Middle East and Africa 23,778 23,124 Asia Pacific 1,505 1,619 Latin America 89 44 Total property and equipment, net $ 37,841 $ 36,916

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Fiscal year	The Company’s fiscal year ends on March 31. References to fiscal 2022, for example, refer to the fiscal year ended March 31, 2022.
Consolidation	The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. All intercompany balances and transactions have been eliminated in the accompanying condensed consolidated financial statements.
Basis of presentation	Unaudited interim consolidated financial information The accompanying interim condensed consolidated balance sheet as of June 30, 2021 and the interim condensed consolidated statements of operations, statements of comprehensive income, and statements of shareholders’ equity for the three months ended June 30, 2021 and 2020, statements of cash flows for the three months ended June 30, 2021 and 2020, and the related disclosures, are unaudited. In management’s opinion, the unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and includes all normal and recurring adjustments necessary for the fair presentation of the Company’s financial position as of June 30, 2021, its results of operations for the three months ended June 30, 2021 and 2020, and its cash flows for the three months ended June 30, 2021 and 2020 in accordance with U.S. GAAP. The results for the three months ended June 30, 2021 are not necessarily indicative of the results to be expected for the full fiscal year or any other interim period. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2021 (“Annual Report”).
Use of estimates	Use of estimates The preparation of unaudited condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, the disclosure of contingent assets and liabilities as of the date of the unaudited condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Management periodically evaluates such estimates and assumptions for continued reasonableness. In particular, the Company makes estimates with respect to the stand-alone selling price for each distinct performance obligation in customer contracts with multiple performance obligations, the uncollectible accounts receivable, the fair value of tangible and intangible assets acquired, valuation of long-lived assets, the period of benefit for deferred commissions and material rights, equity-based compensation expense, income taxes, and the determination of the incremental borrowing rate used for operating lease liabilities, among other things. Appropriate adjustments, if any, to the estimates used are made prospectively based upon such periodic evaluation. Actual results could differ from those estimates.
Recently adopted accounting pronouncements	Recently adopted accounting pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which removes certain exceptions for investments, intraperiod allocations and interim calculations, and adds guidance to reduce complexity in accounting for income taxes. ASU 2019-12 is effective for annual periods, and interim periods within those years, beginning after December 15, 2020. The Company adopted the new standard on a prospective basis as of April 1, 2021. The adoption did not have a material impact on the consolidated financial statements.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table is a summary of the Company’s total revenues by geographic region (in thousands, except percentages): Three Months Ended June 30, 2021 2020 Amount % Amount % North America $ 112,772 53 % $ 87,377 56 % Europe, Middle East and Africa 67,044 32 % 47,071 30 % Asia Pacific 22,136 11 % 16,940 11 % Latin America 7,788 4 % 4,120 3 % Total revenue $ 209,740 $ 155,508

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets, Net (Tables)	3 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the carrying amount of goodwill on a consolidated basis for the three months ended June 30, 2021 consists of the following (in thousands): June 30, 2021 Balance, beginning of period $ 1,271,195 Goodwill from acquisitions (1) 3,524 Foreign currency impact 414 Balance, end of period $ 1,275,133 _________________ (1) The initial allocation of the purchase price from acquisition was based on preliminary valuations and assumptions and is subject to change. The Company expects to finalize the allocation of the purchase price within the measurement period.
Schedule of Intangible Assets	Other intangible assets, net excluding goodwill consists of the following (in thousands): Weighted June 30, 2021 March 31, 2021 Capitalized software 107 $ 189,438 $ 189,398 Customer relationships 120 351,555 351,555 Trademarks and tradenames 120 55,003 55,003 Total intangible assets 595,996 595,956 Less: accumulated amortization (458,003) (446,472) Total other intangible assets, net $ 137,993 $ 149,484

Long-term Debt Schedule of Long

Long-term Debt Schedule of Long-Term Debt (Tables)	3 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt consists of the following (in thousands, except percentages): June 30, 2021 March 31, 2021 Amount Effective Rate Amount Effective Rate First Lien Term Loan $ 371,125 2.4 % $ 401,125 2.4 % Revolving credit facility — — Total principal 371,125 401,125 Unamortized discount and debt issuance costs (8,721) (9,212) Total debt 362,404 391,913 Less: Current portion of long-term debt — — Long-term debt $ 362,404 $ 391,913

Leases (Tables)

Leases (Tables)	3 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Schedule of Lease Expense and Supplemental Cash Flow Information	The following table presents information about leases on the condensed consolidated statements of operations (in thousands): Three Months Ended June 30, 2021 2020 Operating lease expense (1) $ 2,469 $ 2,643 Short-term lease expense $ 195 $ 68 Variable lease expense $ 161 $ 200 _________________ (1) Presented gross of sublease income. The following table presents supplemental cash flow information about the Company’s leases (in thousands): Three Months Ended June 30, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities $ 3,191 $ 3,032 Operating lease assets obtained in exchange for new operating lease liabilities (1) $ 7,533 $ — _________________ (1) Includes the impact of new leases as well as remeasurements and modifications of existing leases.
Schedule of Maturities of Lease Liabilities	As of June 30, 2021, remaining maturities of lease liabilities were as follows (in thousands): Fiscal Years Ending March 31, Amount 2022 $ 9,809 2023 12,906 2024 11,800 2025 8,642 2026 5,987 Thereafter 14,418 Total operating lease payments (1) 63,562 Less: imputed interest (10,319) Total operating lease liabilities $ 53,243 _________________ (1) Presented gross of sublease income.

Share-based Compensation (Table

Share-based Compensation (Tables)	3 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Summary of Activity for Stock Options	The following table summarizes activity for stock options during the period ended June 30, 2021: Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (per share) (years) (in thousands) Balance, March 31, 2021 8,393 $ 21.31 8.6 $ 226,438 Granted 92 51.41 Exercised (388) 19.62 Forfeited (96) 20.44 Balance, June 30, 2021 8,001 $ 21.75 8.3 $ 293,405 Options vested and expected to vest at June 30, 2021 8,001 $ 21.75 8.3 $ 293,405 Options vested and exercisable at June 30, 2021 2,322 $ 19.25 8.2 $ 90,955
Summary of Activity for Restricted Shares	The following table provides a summary of the changes in the number of restricted shares for the period ended June 30, 2021: Number of Shares of Weighted Average Grant Date Fair Value Number of Restricted Stock Units Weighted Average (in thousands) (per share) (in thousands) (per share) Balance, March 31, 2021 728 $ 16.00 3,041 $ 24.44 Granted — — 2,364 46.89 Vested (260) 16.00 (496) 25.46 Forfeited — — (85) 23.78 Balance, June 30, 2021 468 $ 16.00 4,824 $ 35.35
Schedule of Share-based Compensation Expense	The following table summarizes the components of total share-based compensation expense included in the condensed consolidated financial statements for each period presented (in thousands): Three Months Ended June 30, 2021 2020 Cost of revenue $ 2,652 $ 1,498 Research and development 3,967 2,418 Sales and marketing 7,608 5,405 General and administrative 5,025 3,351 Total share-based compensation expense $ 19,252 $ 12,672

Net Income Per Share (Tables)

Net Income Per Share (Tables)	3 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Summary of Basic and Diluted Net Loss Per Share	The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share data): Three Months Ended June 30, 2021 2020 Numerator: Net income $ 13,294 $ 12,865 Denominator: Weighted average shares outstanding, basic 282,661 279,069 Dilutive effect of stock-based awards 6,327 5,240 Weighted average shares outstanding, diluted 288,988 284,309 Net income per share, basic $ 0.05 $ 0.05 Net income per share, diluted $ 0.05 $ 0.05
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	A summary of these weighted-average anti-dilutive common share equivalents is provided in the table below (in thousands): Three Months Ended June 30, 2021 2020 Stock options 318 1,200 Unvested restricted stock and RSUs 32 3 Shares committed under ESPP 3 61

Geographic Information (Tables)

Geographic Information (Tables)	3 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Summary of Property and Equipment by Geographical Region	The following tables present property and equipment by geographic region for the periods presented (in thousands): June 30, 2021 March 31, 2021 North America $ 12,469 $ 12,129 Europe, Middle East and Africa 23,778 23,124 Asia Pacific 1,505 1,619 Latin America 89 44 Total property and equipment, net $ 37,841 $ 36,916

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Amount	$ 209,740	$ 155,508
Revenue Benchmark | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Amount	104,500	82,000
North America
Disaggregation of Revenue [Line Items]
Amount	$ 112,772	$ 87,377
North America | Revenue Benchmark | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
%	53.00%	56.00%
Europe, Middle East and Africa
Disaggregation of Revenue [Line Items]
Amount	$ 67,044	$ 47,071
Europe, Middle East and Africa | Revenue Benchmark | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
%	32.00%	30.00%
Asia Pacific
Disaggregation of Revenue [Line Items]
Amount	$ 22,136	$ 16,940
Asia Pacific | Revenue Benchmark | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
%	11.00%	11.00%
Latin America
Disaggregation of Revenue [Line Items]
Amount	$ 7,788	$ 4,120
Latin America | Revenue Benchmark | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
%	4.00%	3.00%

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue and Deferred Revenue (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Total revenue	$ 209,740	$ 155,508
Revenue recognized	199,500	146,300
Revenue Benchmark | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Total revenue	$ 104,500	$ 82,000
Revenue Benchmark | Geographic Concentration Risk | UNITED STATES
Disaggregation of Revenue [Line Items]
Concentration risk percentage	50.00%	53.00%

Revenue Recognition - Remaining

Revenue Recognition - Remaining Performance Obligations (Narrative) (Details) $ in Millions	Jun. 30, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 1,252
Billed consideration
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	519.7
Unbilled consideration
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 732.3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	57.00%
Remaining performance obligation, expected timing of satisfaction, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	43.00%
Remaining performance obligation, expected timing of satisfaction, period

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets, Net - Schedule of Goodwill (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2021USD ($)
Goodwill [Roll Forward]
Balance, beginning of period	$ 1,271,195
Goodwill from acquisitions	3,524
Foreign currency impact	414
Balance, end of period	$ 1,275,133

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets, Net - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Mar. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 595,996	$ 595,956
Less: accumulated amortization	(458,003)	(446,472)
Total other intangible assets, net	$ 137,993	149,484
Capitalized software
Finite-Lived Intangible Assets [Line Items]
Weighted Average  Useful Life (in months)	107 years
Total intangible assets	$ 189,438	189,398
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average  Useful Life (in months)	120 months
Total intangible assets	$ 351,555	351,555
Trademarks and tradenames
Finite-Lived Intangible Assets [Line Items]
Weighted Average  Useful Life (in months)	120 months
Total intangible assets	$ 55,003	$ 55,003

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets, Net - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of other intangibles	$ 11,512	$ 13,019

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Effective tax rate	32.00%	36.00%

Long-term Debt - Schedule of Lo

Long-term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021
Debt Instrument [Line Items]
Total principal	$ 371,125	$ 401,125
Unamortized discount and debt issuance costs	(8,721)	(9,212)
Total debt	362,404	391,913
Less: Current portion of long-term debt	0	0
Long-term debt	362,404	391,913
First Lien Term Loan | Secured Debt
Debt Instrument [Line Items]
Total principal	$ 371,125	$ 401,125
Effective Rate	2.40%	2.40%
Revolving credit facility | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Total principal	$ 0	$ 0

Long-term Debt - Narrative (Det

Long-term Debt - Narrative (Details) - USD ($)	3 Months Ended
	Jun. 30, 2021	Mar. 31, 2021
First Lien Term Loan | Secured Debt
Debt Instrument [Line Items]
Debt instrument, face amount	$ 950,000,000
First Lien Term Loan | Secured Debt | Alternative Base Rate
Debt Instrument [Line Items]
Basis spread on variable interest rate	1.25%
First Lien Term Loan | Secured Debt | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable interest rate	2.25%
Revolving credit facility | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 60,000,000
Available borrowing capacity	$ 44,400,000	$ 44,400,000
Commitment fee percentage	0.25%
Fronting fee percentage	0.125%
Revolving credit facility | Line of Credit | Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 25,000,000
Letters of credit issued	$ 15,600,000	$ 15,600,000

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Lessee, Lease, Description [Line Items]
Weighted average remaining lease term	5 years 9 months 18 days
Weighted average discount rate	7.10%
Sublease Income	$ 0.6	$ 1.2
Operating lease that has not yet commenced	$ 6.6
Minimum
Lessee, Lease, Description [Line Items]
Operating lease that has not yet commenced, term	2 years
Maximum
Lessee, Lease, Description [Line Items]
Operating lease that has not yet commenced, term	10 years

Leases - Schedule of Lease Expe

Leases - Schedule of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Operating lease expense	$ 2,469	$ 2,643
Short-term lease expense	195	68
Variable lease expense	$ 161	$ 200

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 3,191	$ 3,032
Operating lease assets obtained in exchange for new operating lease liabilities	$ 7,533	$ 0

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Lease Liabilities (Details) $ in Thousands	Jun. 30, 2021USD ($)
Leases [Abstract]
2022	$ 9,809
2023	12,906
2024	11,800
2025	8,642
2026	5,987
Thereafter	14,418
Total operating lease payments	63,562
Less: imputed interest	(10,319)
Total operating lease liabilities	$ 53,243

Share-based Compensation - Narr

Share-based Compensation - Narrative (Details) $ in Thousands	1 Months Ended	3 Months Ended
	Jul. 31, 2019shares	Jun. 30, 2021USD ($)installmentshares	Jun. 30, 2020USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost | $		$ 47,300
Stock compensation expense | $		$ 19,252	$ 12,672
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period of recognition		2 years 4 months 24 days
Stock compensation expense | $		$ 4,700	3,300
Unvested restricted stock and RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense | $		$ 13,500	8,800
Number of units granted (in shares)		2,364,462
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period of recognition		1 year 2 months 12 days
Number of units granted (in shares)		0
Total unrecognized compensation cost | $		$ 6,600
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period of recognition		2 years 9 months 18 days
Number of units granted (in shares)		2,364,000
Total unrecognized compensation cost | $		$ 160,300
Time-based restricted units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted (in shares)		1,560,662
Time-based restricted units | Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		25.00%
Award vesting period		1 year
Time-based restricted units | Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		75.00%
Award vesting period		3 years
Performance-Based Restricted Stock Units, Incentive PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period of recognition		3 years
Number of units granted (in shares)		295,900
Award vesting period		3 years
Number of equal installments | installment		3
Minimum performance target percentage		0.95
Maximum percentage of shares issued based on performance target award		1.50
Performance-Based Restricted Stock Units, Incentive PSUs | Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		33.30%
Performance-Based Restricted Stock Units, Incentive PSUs | Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		33.30%
Performance-Based Restricted Stock Units, Incentive PSUs | Share-based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		33.30%
Performance-Based Restricted Stock Units, Annual PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period of recognition		4 years
Number of units granted (in shares)		507,900
Maximum percentage of shares issued based on performance target award		1.50
Performance-Based Restricted Stock Units, Annual PSUs | Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		25.00%
Award vesting period		1 year
Performance-Based Restricted Stock Units, Annual PSUs | Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		75.00%
Award vesting period		3 years
Number of equal installments | installment		12
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ESPP offering period	6 months
ESPP purchase period	6 months
Employee Stock | Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ESPP, maximum percentage of the common stock available for purchase	85.00%
Equity Incentive Plan 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units authorized for issuance (in shares)	52,000,000	38,554,389
Annual increase in shares reserved for future issuance based off of shares outstanding	4.00%
2019 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense | $		$ 1,100	$ 500
Total unrecognized compensation cost | $		$ 2,100
2019 Employee Stock Purchase Plan | Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units authorized for issuance (in shares)		11,355,078
Issuance of common stock related to employee stock purchase plan (in shares)		204,016

Share-based Compensation - Sche

Share-based Compensation - Schedule of Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2021	Mar. 31, 2021
Number of Options
Beginning balance (in shares)	8,393
Granted (in shares)	92
Exercised (in shares)	(388)
Forfeited (in shares)	(96)
Ending balance (in shares)	8,001	8,393
Options vested and expected to vest (in shares)	8,001
Options vested and exercisable (in shares)	2,322
Weighted Average Exercise Price
Beginning balance (in dollars per share)	$ 21.31
Granted (in dollars per share)	51.41
Exercised (in dollars per share)	19.62
Forfeited (in dollars per share)	20.44
Ending valance (in dollars per share)	21.75	$ 21.31
Weighted average exercise price, options vested and expected to vest (in dollars per share)	21.75
Weighted average exercise price, options vested and exercisable (in dollars per share)	$ 19.25
Weighted average remaining contractual term	8 years 3 months 18 days	8 years 7 months 6 days
Weighted average remaining contractual term, options vested and expected to vest	8 years 3 months 18 days
Weighted average remaining contractual term, options vested and exercisable	8 years 2 months 12 days
Aggregate intrinsic value	$ 293,405	$ 226,438
Aggregate intrinsic value, options vested and expected to vest	293,405
Aggregate intrinsic value, options vested and exercisable	$ 90,955
Restricted Stock
Number of Restricted Shares
Beginning balance (in shares)	728
Granted (in shares)	0
Vested (in shares)	(260)
Forfeited (in shares)	0
Ending balance (in shares)	468	728
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 16
Granted (in dollars per share)	0
Vested (in dollars per share)	16
Forfeited (in dollars per share)	0
Ending balance (in dollars per share)	$ 16	$ 16
Restricted Stock Units (RSUs)
Number of Restricted Shares
Beginning balance (in shares)	3,041
Granted (in shares)	2,364
Vested (in shares)	(496)
Forfeited (in shares)	(85)
Ending balance (in shares)	4,824	3,041
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 24.44
Granted (in dollars per share)	46.89
Vested (in dollars per share)	25.46
Forfeited (in dollars per share)	23.78
Ending balance (in dollars per share)	$ 35.35	$ 24.44

Share-based Compensation - Sc_2

Share-based Compensation - Schedule of Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 19,252	$ 12,672
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	2,652	1,498
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	3,967	2,418
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	7,608	5,405
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 5,025	$ 3,351

Net Income Per Share - Summary

Net Income Per Share - Summary of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Numerator:
Net income	$ 13,294	$ 12,865
Denominator:
Weighted average shares outstanding, basic (in shares)	282,661	279,069
Dilutive effect of stock-based awards (in shares)	6,327	5,240
Weighted average shares outstanding, diluted (in shares)	288,988	284,309
Net income per share, basic (in dollars per share)	$ 0.05	$ 0.05
Net income per share, diluted (in dollars per share)	$ 0.05	$ 0.05

Net Income Per Share - Antidilu

Net Income Per Share - Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common share equivalents (in shares)	318	1,200
Unvested restricted stock and RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common share equivalents (in shares)	32	3
Shares committed under ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common share equivalents (in shares)	3	61

Geographic Information - Summar

Geographic Information - Summary of Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	$ 37,841	$ 36,916
North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	12,469	12,129
Europe, Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	23,778	23,124
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	1,505	1,619
Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	$ 89	$ 44

Uncategorized Items - dt-202106

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-02 [Member]