Dynatrace (DT) 10-Q 27 Oct 21 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Sep. 30, 2021	Oct. 25, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 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		285,071,209
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001773383
Current Fiscal Year End Date	--03-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2021
Current assets:
Cash and cash equivalents	$ 370,319	$ 324,962
Accounts receivable, net	149,801	242,079
Deferred commissions, current	52,525	48,986
Prepaid expenses and other current assets	80,065	64,255
Total current assets	652,710	680,282
Property and equipment, net	40,197	36,916
Operating lease right-of-use assets, net	60,473	42,959
Goodwill	1,282,631	1,271,195
Other intangible assets, net	128,514	149,484
Deferred tax assets, net	16,492	16,811
Deferred commissions, non-current	50,766	48,638
Other assets	11,114	9,933
Total assets	2,242,897	2,256,218
Current liabilities:
Accounts payable	16,013	9,621
Accrued expenses, current	105,423	119,527
Deferred revenue, current	461,443	509,272
Operating lease liabilities, current	11,214	9,491
Total current liabilities	594,093	647,911
Deferred revenue, non-current	22,630	47,504
Accrued expenses, non-current	16,533	16,072
Operating lease liabilities, non-current	54,371	38,203
Deferred tax liabilities	1,361	1,014
Long-term debt	332,907	391,913
Total liabilities	1,021,895	1,142,617
Commitments and contingencies (Note 8)
Shareholders' equity:
Common shares	285	283
Additional paid-in capital	1,723,056	1,653,328
Accumulated deficit	(476,864)	(513,799)
Accumulated other comprehensive loss	(25,475)	(26,211)
Total shareholders' equity	1,221,002	1,113,601
Total liabilities and shareholders' equity	$ 2,242,897	$ 2,256,218

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 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)	285,025,237	283,130,238
Common shares, outstanding (in shares)	285,025,237	283,130,238

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue:
Total revenue	$ 226,354	$ 168,586	$ 436,094	$ 324,094
Cost of revenue:
Amortization of acquired technology	3,864	3,830	7,694	7,656
Total cost of revenue	41,667	30,711	80,500	59,253
Gross profit	184,687	137,875	355,594	264,841
Operating expenses:
Research and development	37,908	27,512	72,633	51,017
Sales and marketing	86,301	56,690	166,783	105,853
General and administrative	31,689	22,110	58,611	43,637
Amortization of other intangibles	7,539	8,686	15,079	17,372
Restructuring and other	(1)	46	25	25
Total operating expenses	163,436	115,044	313,131	217,904
Income from operations	21,251	22,831	42,463	46,937
Interest expense, net	(2,651)	(3,602)	(5,508)	(7,715)
Other (expense) income, net	(1,299)	199	12	218
Income before income taxes	17,301	19,428	36,967	39,440
Income tax benefit (expense)	6,340	(1,949)	(32)	(9,096)
Net income	$ 23,641	$ 17,479	$ 36,935	$ 30,344
Net income per share:
Basic (in dollars per share)	$ 0.08	$ 0.06	$ 0.13	$ 0.11
Diluted (in dollars per share)	$ 0.08	$ 0.06	$ 0.13	$ 0.11
Weighted average shares outstanding:
Basic (in shares)	283,923	280,077	283,295	279,577
Diluted (in shares)	291,177	286,252	290,254	285,423
Subscription
Revenue:
Total revenue	$ 212,601	$ 157,673	$ 409,121	$ 302,030
Cost of revenue:
Cost of revenues	27,135	18,327	52,117	35,033
License
Revenue:
Total revenue	0	442	50	1,080
Service
Revenue:
Total revenue	13,753	10,471	26,923	20,984
Cost of revenue:
Cost of revenues	$ 10,668	$ 8,554	$ 20,689	$ 16,564

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 23,641	$ 17,479	$ 36,935	$ 30,344
Other comprehensive income (loss)
Foreign currency translation adjustment	2,394	(2,792)	736	(5,134)
Total other comprehensive income (loss)	2,394	(2,792)	736	(5,134)
Comprehensive income	$ 26,035	$ 14,687	$ 37,671	$ 25,210

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	(5,134)						(5,134)
Restricted stock units vested (in shares)			806,000
Restricted stock awards forfeited (in shares)			(96,000)
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
Exercise of stock options (in shares)			302,000
Exercise of stock options	4,829			4,829
Share-based compensation	27,503			27,503
Equity repurchases	(25)			(25)
Net income	30,344				30,344
Ending balance (in shares) at Sep. 30, 2020			282,024,000
Ending balance at Sep. 30, 2020	1,027,119		$ 281	1,609,246	(559,169)		(23,239)
Beginning balance (in shares) at Jun. 30, 2020			281,056,000
Beginning balance at Jun. 30, 2020	992,784		$ 281	1,589,598	(576,648)		(20,447)
Increase (Decrease) in Partners' Capital [Roll Forward]
Foreign currency translation	(2,792)						(2,792)
Restricted stock units vested (in shares)			674,000
Restricted stock awards forfeited (in shares)			(8,000)
Exercise of stock options (in shares)			302,000
Exercise of stock options	4,829			4,829
Share-based compensation	14,831			14,831
Equity repurchases	(12)			(12)
Net income	17,479				17,479
Ending balance (in shares) at Sep. 30, 2020			282,024,000
Ending balance at Sep. 30, 2020	$ 1,027,119		$ 281	1,609,246	(559,169)		(23,239)
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	736						736
Restricted stock units vested (in shares)			797,000
Restricted stock units vested	0		$ 1	(1)
Restricted stock awards forfeited (in shares)			(19,000)
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)	913,000		913,000
Exercise of stock options	$ 18,340		$ 1	18,339
Share-based compensation	44,827			44,827
Equity repurchases	(30)			(30)
Net income	$ 36,935				36,935
Ending balance (in shares) at Sep. 30, 2021	285,025,237		285,025,000
Ending balance at Sep. 30, 2021	$ 1,221,002		$ 285	1,723,056	(476,864)		(25,475)
Beginning balance (in shares) at Jun. 30, 2021			284,218,000
Beginning balance at Jun. 30, 2021	1,158,954		$ 284	1,687,044	(500,505)		(27,869)
Increase (Decrease) in Partners' Capital [Roll Forward]
Foreign currency translation	2,394						2,394
Restricted stock units vested (in shares)			301,000
Restricted stock awards forfeited (in shares)			(19,000)
Exercise of stock options (in shares)			525,000
Exercise of stock options	10,454		$ 1	10,453
Share-based compensation	25,575			25,575
Equity repurchases	(16)			(16)
Net income	$ 23,641				23,641
Ending balance (in shares) at Sep. 30, 2021	285,025,237		285,025,000
Ending balance at Sep. 30, 2021	$ 1,221,002		$ 285	$ 1,723,056	$ (476,864)		$ (25,475)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net income	$ 36,935	$ 30,344
Adjustments to reconcile net income to cash provided by operations:
Depreciation	5,049	3,797
Amortization	23,057	26,032
Share-based compensation	44,827	27,503
Deferred income taxes	3	(3,160)
Other	1,007	802
Net change in operating assets and liabilities:
Accounts receivable	92,314	49,353
Deferred commissions	(6,347)	1,250
Prepaid expenses and other assets	(16,456)	(4,944)
Accounts payable and accrued expenses	(9,118)	(7,862)
Operating leases, net	401	523
Deferred revenue	(69,904)	(62,789)
Net cash provided by operating activities	101,768	60,849
Cash flows from investing activities:
Purchase of property and equipment	(7,612)	(6,400)
Capitalized software additions	0	(184)
Acquisition of businesses, net of cash acquired	(13,004)	0
Net cash used in investing activities	(20,616)	(6,584)
Cash flows from financing activities:
Repayment of term loans	(60,000)	(30,000)
Proceeds from employee stock purchase plan	6,593	3,592
Proceeds from exercise of stock options	18,339	4,829
Equity repurchases	(30)	(25)
Net cash used in financing activities	(35,098)	(21,604)
Effect of exchange rates on cash and cash equivalents	(697)	2,606
Net increase in cash and cash equivalents	45,357	35,267
Cash and cash equivalents, beginning of period	324,962	213,170
Cash and cash equivalents, end of period	370,319	248,437
Supplemental cash flow data:
Cash paid for interest	4,560	6,923
Cash paid for tax, net	$ 8,431	$ 22,545

Description of the Business

Description of the Business	6 Months Ended
	Sep. 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	6 Months Ended
	Sep. 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 September 30, 2021 and the interim condensed consolidated statements of operations, statements of comprehensive income, and statements of shareholders’ equity for the three and six months ended September 30, 2021 and 2020, statements of cash flows for the six months ended September 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 September 30, 2021, its results of operations for the three and six months ended September 30, 2021 and 2020, and its cash flows for the six months ended September 30, 2021 and 2020 in accordance with U.S. GAAP. The results for the three and six months ended September 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, share-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	6 Months Ended
	Sep. 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 September 30, Six Months Ended September 30, 2021 2020 2021 2020 Amount % Amount % Amount % Amount % North America $ 123,892 54 % $ 93,511 56 % $ 236,664 54 % $ 180,888 56 % Europe, Middle East and Africa 69,347 31 % 51,852 31 % 136,391 31 % 98,923 31 % Asia Pacific 23,939 11 % 19,271 11 % 46,075 11 % 36,211 11 % Latin America 9,176 4 % 3,952 2 % 16,964 4 % 8,072 2 % Total revenue $ 226,354 $ 168,586 $ 436,094 $ 324,094 For the three and six months ended September 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 $115.1 million and 51% and $87.1 million and 52% of total revenue during the three months ended September 30, 2021 and 2020, respectively, and $219.6 million and 50% and $169.1 million and 52% of total revenue for the six months ended September 30, 2021 and 2020, respectively. Deferred revenue Revenues recognized during the three months ended September 30, 2021 and 2020, which was included in the deferred revenue balances at the beginning of each respective period, was $186.4 million and $137.0 million, respectively. Revenues recognized during the six months ended September 30, 2021 and 2020 which was included in the deferred revenue balances at the beginning of each respective period, was $385.9 million and $283.3 million, respectively. Remaining performance obligations As of September 30, 2021, the aggregate amount of the transaction price allocated to remaining performance obligations was $1,253.4 million, which consists of both billed consideration in the amount of $484.1 million and unbilled consideration in the amount of $769.3 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	6 Months Ended
	Sep. 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 six months ended September 30, 2021 consists of the following (in thousands): September 30, 2021 Balance, beginning of period $ 1,271,195 Goodwill from acquisitions (1) 11,542 Foreign currency impact (106) Balance, end of period $ 1,282,631 _________________ (1) The initial allocation of the purchase price from acquisitions was based on preliminary valuations and assumptions and is subject to change. The Company expects to finalize the allocation of the purchase prices within the measurement period. Other intangible assets, net excluding goodwill consists of the following (in thousands): Weighted September 30, 2021 March 31, 2021 Capitalized software 107 $ 191,484 $ 189,398 Customer relationships 120 351,555 351,555 Trademarks and tradenames 120 55,003 55,003 Total intangible assets 598,042 595,956 Less: accumulated amortization (469,528) (446,472) Total other intangible assets, net $ 128,514 $ 149,484

Income Taxes

Income Taxes	6 Months Ended
	Sep. 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 September 30, 2021 was negative 36.6% compared to 10.0% for the three months ended September 30, 2020. The Company’s effective tax rate for the six months ended September 30, 2021 was 0.1% compared to 23.1% for the six months ended September 30, 2020. The decrease in the effective tax rate for both the three months ended September 30, 2021 and 2020 and six months ended September 30, 2021 and 2020 is primarily due to additional share-based compensation tax windfall benefits and a $2.1 million one-time benefit related to anticipated tax refunds resulting from a favorable Polish research and development ruling received by the Company in August. Based on the Company’s review of both positive and negative evidence regarding the realizability of deferred tax assets at September 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 September 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	6 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt Long-term debt consists of the following (in thousands, except percentages): September 30, 2021 March 31, 2021 Amount Effective Rate Amount Effective Rate First Lien Term Loan $ 341,125 2.3 % $ 401,125 2.4 % Revolving credit facility — — Total principal 341,125 401,125 Unamortized discount and debt issuance costs (8,218) (9,212) Total debt 332,907 391,913 Less: Current portion of long-term debt — — Long-term debt $ 332,907 $ 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 $15.5 million and $15.6 million letters of credit issued as of September 30, 2021 and March 31, 2021, respectively. The Company had $44.5 million and $44.4 million of availability under the Revolving Facility as of September 30, 2021 and March 31, 2021, respectively. 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 September 30, 2021, the Company was in compliance with all applicable covenants.

Leases

Leases	6 Months Ended
	Sep. 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 September 30, 2021, the weighted average remaining lease term was 6.4 years and the weighted average discount rate was 5.8%. The Company does not have any finance leases as of September 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 $0.5 million and $1.1 million for the three months ended September 30, 2021 and 2020, respectively, and $1.1 million and $2.3 million for the six months ended September 30, 2021 and 2020, respectively. The following table presents information about leases on the condensed consolidated statements of operations (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2021 2021 2020 2021 2020 Operating lease expense (1) $ 2,612 $ 2,739 $ 5,081 $ 5,382 Short-term lease expense $ 238 $ 158 $ 433 $ 312 Variable lease expense $ 386 $ 206 $ 547 $ 381 _________________ (1) Presented gross of sublease income. The following table presents supplemental cash flow information about the Company’s leases (in thousands): Six Months Ended September 30, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities $ 6,513 $ 6,796 Operating lease assets obtained in exchange for new operating lease liabilities (1) $ 22,877 $ 150 _________________ (1) Includes the impact of new leases as well as remeasurements and modifications of existing leases. As of September 30, 2021, remaining maturities of lease liabilities were as follows (in thousands): Fiscal Years Ending March 31, Amount 2022 $ 6,913 2023 14,902 2024 13,842 2025 10,574 2026 7,684 Thereafter 22,128 Total operating lease payments (1) 76,043 Less: imputed interest (10,458) Total operating lease liabilities $ 65,585 _________________ (1) Presented gross of sublease income. As of September 30, 2021, the Company had commitments of $3.4 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 3 to 6 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 September 30, 2021, the weighted average remaining lease term was 6.4 years and the weighted average discount rate was 5.8%. The Company does not have any finance leases as of September 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 $0.5 million and $1.1 million for the three months ended September 30, 2021 and 2020, respectively, and $1.1 million and $2.3 million for the six months ended September 30, 2021 and 2020, respectively. The following table presents information about leases on the condensed consolidated statements of operations (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2021 2021 2020 2021 2020 Operating lease expense (1) $ 2,612 $ 2,739 $ 5,081 $ 5,382 Short-term lease expense $ 238 $ 158 $ 433 $ 312 Variable lease expense $ 386 $ 206 $ 547 $ 381 _________________ (1) Presented gross of sublease income. The following table presents supplemental cash flow information about the Company’s leases (in thousands): Six Months Ended September 30, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities $ 6,513 $ 6,796 Operating lease assets obtained in exchange for new operating lease liabilities (1) $ 22,877 $ 150 _________________ (1) Includes the impact of new leases as well as remeasurements and modifications of existing leases. As of September 30, 2021, remaining maturities of lease liabilities were as follows (in thousands): Fiscal Years Ending March 31, Amount 2022 $ 6,913 2023 14,902 2024 13,842 2025 10,574 2026 7,684 Thereafter 22,128 Total operating lease payments (1) 76,043 Less: imputed interest (10,458) Total operating lease liabilities $ 65,585 _________________ (1) Presented gross of sublease income. As of September 30, 2021, the Company had commitments of $3.4 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 3 to 6 years.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Sep. 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	6 Months Ended
	Sep. 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 September 30, 2021, 38,435,666 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 September 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 114 52.86 Exercised (913) 20.05 Forfeited (190) 22.64 Balance, September 30, 2021 7,404 $ 21.92 8.1 $ 363,138 Options vested and expected to vest at September 30, 2021 7,404 $ 21.92 8.1 $ 363,138 Options vested and exercisable at September 30, 2021 2,376 $ 19.53 8.0 $ 122,226 As of September 30, 2021, the total unrecognized compensation expense related to non-vested stock options is $42.2 million and is expected to be recognized over a weighted average period of 2.2 years. The Company recognized $4.6 million and $4.4 million of share-based compensation expense related to stock options for the three months ended September 30, 2021 and 2020, respectively, and $9.3 million and $7.8 million of share-based compensation expense related to stock options for the six months ended September 30, 2021 and 2020, respectively. Restricted shares and units During the first six months of fiscal 2022, the Company granted an aggregate of 2,651,777 restricted stock units (“RSUs”) to certain key employees and non-employee directors. The total grants consisted of: (i) 1,826,397 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 September 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 — — 2,652 48.92 Vested (355) 16.00 (797) 24.99 Forfeited (19) 16.00 (169) 30.30 Balance, September 30, 2021 354 $ 16.00 4,727 $ 37.87 As of September 30, 2021, the total unrecognized compensation expense related to unvested restricted stock is $4.8 million and is expected to be recognized over a weighted average period of 1.0 year. As of September 30, 2021, the total unrecognized compensation expense related to unvested restricted stock units is $163.2 million and is expected to be recognized over a weighted average period of 2.7 years. The Company recognized $19.6 million and $9.9 million of share-based compensation expense related to restricted shares and units for the three months ended September 30, 2021 and 2020, respectively, and $33.1 million and $18.7 million of share-based compensation expense related to restricted shares and units for the six months ended September 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 September 30, 2021, there was approximately $0.8 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 $1.3 million and $0.5 million of share-based compensation expense related to the ESPP for the three months ended September 30, 2021 and 2020, respectively, and $2.4 million and $1.0 million of share-based compensation expense related to the ESPP for the six months ended September 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 September 30, Six Months Ended September 30, 2021 2020 2021 2020 Cost of revenue $ 3,485 $ 1,866 $ 6,137 $ 3,364 Research and development 5,456 2,989 9,423 5,407 Sales and marketing 9,612 6,122 17,220 11,527 General and administrative 7,022 3,854 12,047 7,205 Total share-based compensation expense $ 25,575 $ 14,831 $ 44,827 $ 27,503

Net Income Per Share

Net Income Per Share	6 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per ShareBasic 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 September 30, Six Months Ended September 30, 2021 2020 2021 2020 Numerator: Net income $ 23,641 $ 17,479 $ 36,935 $ 30,344 Denominator: Weighted average shares outstanding, basic 283,923 280,077 283,295 279,577 Dilutive effect of stock-based awards 7,254 6,175 6,959 5,846 Weighted average shares outstanding, diluted 291,177 286,252 290,254 285,423 Net income per share, basic $ 0.08 $ 0.06 $ 0.13 $ 0.11 Net income per share, diluted $ 0.08 $ 0.06 $ 0.13 $ 0.11 The effect of certain common share equivalents were excluded from the computation of weighted average diluted shares outstanding for the three and six months ended September 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 September 30, Six Months Ended September 30, 2021 2020 2021 2020 Stock options 148 2,101 159 1,572 Unvested restricted stock and RSUs 23 24 27 30

Geographic Information

Geographic Information	6 Months Ended
	Sep. 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): September 30, 2021 March 31, 2021 North America $ 13,133 $ 12,129 Europe, Middle East and Africa 25,583 23,124 Asia Pacific 1,406 1,619 Latin America 75 44 Total property and equipment, net $ 40,197 $ 36,916

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Sep. 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 September 30, 2021 and the interim condensed consolidated statements of operations, statements of comprehensive income, and statements of shareholders’ equity for the three and six months ended September 30, 2021 and 2020, statements of cash flows for the six months ended September 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 September 30, 2021, its results of operations for the three and six months ended September 30, 2021 and 2020, and its cash flows for the six months ended September 30, 2021 and 2020 in accordance with U.S. GAAP. The results for the three and six months ended September 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, share-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)	6 Months Ended
	Sep. 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 September 30, Six Months Ended September 30, 2021 2020 2021 2020 Amount % Amount % Amount % Amount % North America $ 123,892 54 % $ 93,511 56 % $ 236,664 54 % $ 180,888 56 % Europe, Middle East and Africa 69,347 31 % 51,852 31 % 136,391 31 % 98,923 31 % Asia Pacific 23,939 11 % 19,271 11 % 46,075 11 % 36,211 11 % Latin America 9,176 4 % 3,952 2 % 16,964 4 % 8,072 2 % Total revenue $ 226,354 $ 168,586 $ 436,094 $ 324,094

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets, Net (Tables)	6 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the carrying amount of goodwill on a consolidated basis for the six months ended September 30, 2021 consists of the following (in thousands): September 30, 2021 Balance, beginning of period $ 1,271,195 Goodwill from acquisitions (1) 11,542 Foreign currency impact (106) Balance, end of period $ 1,282,631 _________________ (1) The initial allocation of the purchase price from acquisitions was based on preliminary valuations and assumptions and is subject to change. The Company expects to finalize the allocation of the purchase prices within the measurement period.
Schedule of Intangible Assets	Other intangible assets, net excluding goodwill consists of the following (in thousands): Weighted September 30, 2021 March 31, 2021 Capitalized software 107 $ 191,484 $ 189,398 Customer relationships 120 351,555 351,555 Trademarks and tradenames 120 55,003 55,003 Total intangible assets 598,042 595,956 Less: accumulated amortization (469,528) (446,472) Total other intangible assets, net $ 128,514 $ 149,484

Long-term Debt Schedule of Long

Long-term Debt Schedule of Long-Term Debt (Tables)	6 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt consists of the following (in thousands, except percentages): September 30, 2021 March 31, 2021 Amount Effective Rate Amount Effective Rate First Lien Term Loan $ 341,125 2.3 % $ 401,125 2.4 % Revolving credit facility — — Total principal 341,125 401,125 Unamortized discount and debt issuance costs (8,218) (9,212) Total debt 332,907 391,913 Less: Current portion of long-term debt — — Long-term debt $ 332,907 $ 391,913

Leases (Tables)

Leases (Tables)	6 Months Ended
	Sep. 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 September 30, Six Months Ended September 30, 2021 2021 2020 2021 2020 Operating lease expense (1) $ 2,612 $ 2,739 $ 5,081 $ 5,382 Short-term lease expense $ 238 $ 158 $ 433 $ 312 Variable lease expense $ 386 $ 206 $ 547 $ 381 _________________ (1) Presented gross of sublease income. The following table presents supplemental cash flow information about the Company’s leases (in thousands): Six Months Ended September 30, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities $ 6,513 $ 6,796 Operating lease assets obtained in exchange for new operating lease liabilities (1) $ 22,877 $ 150 _________________ (1) Includes the impact of new leases as well as remeasurements and modifications of existing leases.
Schedule of Maturities of Lease Liabilities	As of September 30, 2021, remaining maturities of lease liabilities were as follows (in thousands): Fiscal Years Ending March 31, Amount 2022 $ 6,913 2023 14,902 2024 13,842 2025 10,574 2026 7,684 Thereafter 22,128 Total operating lease payments (1) 76,043 Less: imputed interest (10,458) Total operating lease liabilities $ 65,585 _________________ (1) Presented gross of sublease income.

Share-based Compensation (Table

Share-based Compensation (Tables)	6 Months Ended
	Sep. 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 September 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 114 52.86 Exercised (913) 20.05 Forfeited (190) 22.64 Balance, September 30, 2021 7,404 $ 21.92 8.1 $ 363,138 Options vested and expected to vest at September 30, 2021 7,404 $ 21.92 8.1 $ 363,138 Options vested and exercisable at September 30, 2021 2,376 $ 19.53 8.0 $ 122,226
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 September 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 — — 2,652 48.92 Vested (355) 16.00 (797) 24.99 Forfeited (19) 16.00 (169) 30.30 Balance, September 30, 2021 354 $ 16.00 4,727 $ 37.87
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 September 30, Six Months Ended September 30, 2021 2020 2021 2020 Cost of revenue $ 3,485 $ 1,866 $ 6,137 $ 3,364 Research and development 5,456 2,989 9,423 5,407 Sales and marketing 9,612 6,122 17,220 11,527 General and administrative 7,022 3,854 12,047 7,205 Total share-based compensation expense $ 25,575 $ 14,831 $ 44,827 $ 27,503

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
	Sep. 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 September 30, Six Months Ended September 30, 2021 2020 2021 2020 Numerator: Net income $ 23,641 $ 17,479 $ 36,935 $ 30,344 Denominator: Weighted average shares outstanding, basic 283,923 280,077 283,295 279,577 Dilutive effect of stock-based awards 7,254 6,175 6,959 5,846 Weighted average shares outstanding, diluted 291,177 286,252 290,254 285,423 Net income per share, basic $ 0.08 $ 0.06 $ 0.13 $ 0.11 Net income per share, diluted $ 0.08 $ 0.06 $ 0.13 $ 0.11
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 September 30, Six Months Ended September 30, 2021 2020 2021 2020 Stock options 148 2,101 159 1,572 Unvested restricted stock and RSUs 23 24 27 30

Geographic Information (Tables)

Geographic Information (Tables)	6 Months Ended
	Sep. 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): September 30, 2021 March 31, 2021 North America $ 13,133 $ 12,129 Europe, Middle East and Africa 25,583 23,124 Asia Pacific 1,406 1,619 Latin America 75 44 Total property and equipment, net $ 40,197 $ 36,916

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Amount	$ 226,354	$ 168,586	$ 436,094	$ 324,094
North America
Disaggregation of Revenue [Line Items]
Amount	$ 123,892	$ 93,511	$ 236,664	$ 180,888
North America | Revenue Benchmark | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
%	54.00%	56.00%	54.00%	56.00%
Europe, Middle East and Africa
Disaggregation of Revenue [Line Items]
Amount	$ 69,347	$ 51,852	$ 136,391	$ 98,923
Europe, Middle East and Africa | Revenue Benchmark | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
%	31.00%	31.00%	31.00%	31.00%
Asia Pacific
Disaggregation of Revenue [Line Items]
Amount	$ 23,939	$ 19,271	$ 46,075	$ 36,211
Asia Pacific | Revenue Benchmark | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
%	11.00%	11.00%	11.00%	11.00%
Latin America
Disaggregation of Revenue [Line Items]
Amount	$ 9,176	$ 3,952	$ 16,964	$ 8,072
Latin America | Revenue Benchmark | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
%	4.00%	2.00%	4.00%	2.00%

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue and Deferred Revenue (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Total revenue	$ 226,354	$ 168,586	$ 436,094	$ 324,094
Revenue recognized	186,400	137,000	385,900	283,300
Revenue Benchmark | Geographic Concentration Risk | UNITED STATES
Disaggregation of Revenue [Line Items]
Total revenue	$ 115,100	$ 87,100	$ 219,600	$ 169,100
Concentration risk percentage	51.00%	52.00%	50.00%	52.00%

Revenue Recognition - Remaining

Revenue Recognition - Remaining Performance Obligations (Narrative) (Details) $ in Millions	Sep. 30, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 1,253.4
Billed consideration
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	484.1
Unbilled consideration
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 769.3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
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]: 2022-10-01
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	6 Months Ended
	Sep. 30, 2021USD ($)
Goodwill [Roll Forward]
Balance, beginning of period	$ 1,271,195
Goodwill from acquisitions	11,542
Foreign currency impact	(106)
Balance, end of period	$ 1,282,631

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets, Net - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2021	Mar. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 598,042	$ 595,956
Less: accumulated amortization	(469,528)	(446,472)
Total other intangible assets, net	$ 128,514	149,484
Capitalized software
Finite-Lived Intangible Assets [Line Items]
Weighted Average  Useful Life (in months)	107 years
Total intangible assets	$ 191,484	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		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of other intangibles	$ 11,600	$ 13,000	$ 23,057	$ 26,032

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Aug. 31, 2021
Income Tax Disclosure [Abstract]
Effective tax rate	(36.60%)	10.00%	0.10%	23.10%
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority					$ 2.1

Long-term Debt - Schedule of Lo

Long-term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2021
Debt Instrument [Line Items]
Total principal	$ 341,125	$ 401,125
Unamortized discount and debt issuance costs	(8,218)	(9,212)
Total debt	332,907	391,913
Less: Current portion of long-term debt	0	0
Long-term debt	332,907	391,913
First Lien Term Loan | Secured Debt
Debt Instrument [Line Items]
Total principal	$ 341,125	$ 401,125
Effective Rate	2.30%	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 ($)	6 Months Ended
	Sep. 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	$ 44,500,000	$ 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	$ 15,500,000	$ 15,600,000

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Lessee, Lease, Description [Line Items]
Weighted average remaining lease term	6 years 4 months 24 days		6 years 4 months 24 days
Weighted average discount rate	5.80%		5.80%
Sublease Income	$ 0.5	$ 1.1	$ 1.1	$ 2.3
Operating lease that has not yet commenced	$ 3.4		$ 3.4
Minimum
Lessee, Lease, Description [Line Items]
Operating lease that has not yet commenced, term	3 years		3 years
Maximum
Lessee, Lease, Description [Line Items]
Operating lease that has not yet commenced, term	6 years		6 years

Leases - Schedule of Lease Expe

Leases - Schedule of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Leases [Abstract]
Operating lease expense	$ 2,612	$ 2,739	$ 5,081	$ 5,382
Short-term lease expense	238	158	433	312
Variable lease expense	$ 386	$ 206	$ 547	$ 381

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 6,513	$ 6,796
Operating lease assets obtained in exchange for new operating lease liabilities	$ 22,877	$ 150

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Lease Liabilities (Details) $ in Thousands	Sep. 30, 2021USD ($)
Leases [Abstract]
2022	$ 6,913
2023	14,902
2024	13,842
2025	10,574
2026	7,684
Thereafter	22,128
Total operating lease payments	76,043
Less: imputed interest	(10,458)
Total operating lease liabilities	$ 65,585

Share-based Compensation - Narr

Share-based Compensation - Narrative (Details) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jul. 31, 2019shares	Sep. 30, 2021USD ($)shares	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)installmentshares	Sep. 30, 2020USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost | $		$ 42,200		$ 42,200
Stock compensation expense | $		25,575	$ 14,831	$ 44,827	$ 27,503
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period of recognition				2 years 2 months 12 days
Stock compensation expense | $		4,600	4,400	$ 9,300	7,800
Unvested restricted stock and RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense | $		19,600	9,900	$ 33,100	18,700
Number of units granted (in shares)				2,651,777
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period of recognition				1 year
Number of units granted (in shares)				0
Total unrecognized compensation cost | $		4,800		$ 4,800
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period of recognition				2 years 8 months 12 days
Number of units granted (in shares)				2,652,000
Total unrecognized compensation cost | $		$ 163,200		$ 163,200
Restricted Stock And Restricted Stock Units, Time-Based, Four-Year Installment Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted (in shares)				1,826,397
Restricted Stock And Restricted Stock Units, Time-Based, Four-Year Installment Vesting | 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
Restricted Stock And Restricted Stock Units, Time-Based, Four-Year Installment Vesting | 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
Restricted Stock And Restricted Stock Units, Time-Based, Vesting By August 26, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted (in shares)				21,580
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	38,435,666		38,435,666
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 | $		$ 1,300	$ 500	$ 2,400	$ 1,000
Total unrecognized compensation cost | $		$ 800		$ 800
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		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) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Sep. 30, 2021USD ($)$ / sharesshares	Mar. 31, 2021USD ($)$ / sharesshares
Number of Options
Beginning balance (in shares) | shares	8,393
Granted (in shares) | shares	114
Exercised (in shares) | shares	(913)
Forfeited (in shares) | shares	(190)
Ending balance (in shares) | shares	7,404	8,393
Options vested and expected to vest (in shares) | shares	7,404
Options vested and exercisable (in shares) | shares	2,376
Weighted Average Exercise Price
Beginning balance (in dollars per share) | $ / shares	$ 21.31
Granted (in dollars per share) | $ / shares	52.86
Exercised (in dollars per share) | $ / shares	20.05
Forfeited (in dollars per share) | $ / shares	22.64
Ending valance (in dollars per share) | $ / shares	21.92	$ 21.31
Weighted average exercise price, options vested and expected to vest (in dollars per share) | $ / shares	21.92
Weighted average exercise price, options vested and exercisable (in dollars per share) | $ / shares	$ 19.53
Weighted average remaining contractual term	8 years 1 month 6 days	8 years 7 months 6 days
Weighted average remaining contractual term, options vested and expected to vest	8 years 1 month 6 days
Weighted average remaining contractual term, options vested and exercisable	8 years
Aggregate intrinsic value | $	$ 363,138	$ 226,438
Aggregate intrinsic value, options vested and expected to vest | $	363,138
Aggregate intrinsic value, options vested and exercisable | $	$ 122,226
Restricted Stock
Number of Restricted Shares
Beginning balance (in shares) | shares	728
Granted (in shares) | shares	0
Vested (in shares) | shares	(355)
Forfeited (in shares) | shares	(19)
Ending balance (in shares) | shares	354	728
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) | $ / shares	$ 16
Granted (in dollars per share) | $ / shares	0
Vested (in dollars per share) | $ / shares	16
Forfeited (in dollars per share) | $ / shares	16
Ending balance (in dollars per share) | $ / shares	$ 16	$ 16
Restricted Stock Units (RSUs)
Number of Restricted Shares
Beginning balance (in shares) | shares	3,041
Granted (in shares) | shares	2,652
Vested (in shares) | shares	(797)
Forfeited (in shares) | shares	(169)
Ending balance (in shares) | shares	4,727	3,041
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) | $ / shares	$ 24.44
Granted (in dollars per share) | $ / shares	48.92
Vested (in dollars per share) | $ / shares	24.99
Forfeited (in dollars per share) | $ / shares	30.30
Ending balance (in dollars per share) | $ / shares	$ 37.87	$ 24.44

Share-based Compensation - Sc_2

Share-based Compensation - Schedule of Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 25,575	$ 14,831	$ 44,827	$ 27,503
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	3,485	1,866	6,137	3,364
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	5,456	2,989	9,423	5,407
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	9,612	6,122	17,220	11,527
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 7,022	$ 3,854	$ 12,047	$ 7,205

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		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator:
Net income	$ 23,641	$ 17,479	$ 36,935	$ 30,344
Denominator:
Weighted average shares outstanding, basic (in shares)	283,923	280,077	283,295	279,577
Dilutive effect of stock-based awards (in shares)	7,254	6,175	6,959	5,846
Weighted average shares outstanding, diluted (in shares)	291,177	286,252	290,254	285,423
Net income per share, basic (in dollars per share)	$ 0.08	$ 0.06	$ 0.13	$ 0.11
Net income per share, diluted (in dollars per share)	$ 0.08	$ 0.06	$ 0.13	$ 0.11

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		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common share equivalents (in shares)	148	2,101	159	1,572
Unvested restricted stock and RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common share equivalents (in shares)	23	24	27	30

Geographic Information - Summar

Geographic Information - Summary of Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	$ 40,197	$ 36,916
North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	13,133	12,129
Europe, Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	25,583	23,124
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	1,406	1,619
Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	$ 75	$ 44

Uncategorized Items - dt-202109

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