Dynatrace (DT) 10-Q 2 Feb 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Dec. 31, 2021	Jan. 31, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	001-39010
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		285,744,612
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001773383
Current Fiscal Year End Date	--03-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Current assets:
Cash and cash equivalents	$ 408,723	$ 324,962
Accounts receivable, net	264,293	242,079
Deferred commissions, current	57,978	48,986
Prepaid expenses and other current assets	81,326	64,255
Total current assets	812,320	680,282
Property and equipment, net	41,984	36,916
Operating lease right-of-use assets, net	59,306	42,959
Goodwill	1,281,764	1,271,195
Other intangible assets, net	117,908	149,484
Deferred tax assets, net	16,390	16,811
Deferred commissions, non-current	58,086	48,638
Other assets	10,003	9,933
Total assets	2,397,761	2,256,218
Current liabilities:
Accounts payable	22,256	9,621
Accrued expenses, current	116,154	119,527
Deferred revenue, current	563,045	509,272
Operating lease liabilities, current	11,700	9,491
Total current liabilities	713,155	647,911
Deferred revenue, non-current	30,937	47,504
Accrued expenses, non-current	20,046	16,072
Operating lease liabilities, non-current	52,976	38,203
Deferred tax liabilities	1,217	1,014
Long-term debt	303,415	391,913
Total liabilities	1,121,746	1,142,617
Commitments and contingencies (Note 8)
Shareholders' equity:
Common shares, $0.001 par value, 600,000,000 shares authorized, 285,701,744 and 283,130,238 shares issued and outstanding at December 31, 2021 and March 31, 2021, respectively	286	283
Additional paid-in capital	1,762,789	1,653,328
Accumulated deficit	(462,277)	(513,799)
Accumulated other comprehensive loss	(24,783)	(26,211)
Total shareholders' equity	1,276,015	1,113,601
Total liabilities and shareholders' equity	$ 2,397,761	$ 2,256,218

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 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)	285,701,744	283,130,238
Common shares, outstanding (in shares)	285,701,744	283,130,238

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Revenue:
Total revenue	$ 240,766	$ 182,911	$ 676,860	$ 507,005
Cost of revenue:
Amortization of acquired technology	3,944	3,831	11,638	11,487
Total cost of revenue	44,460	33,120	124,960	92,373
Gross profit	196,306	149,791	551,900	414,632
Operating expenses:
Research and development	40,876	28,730	113,509	79,747
Sales and marketing	94,033	64,829	260,816	170,682
General and administrative	32,643	23,442	91,254	67,079
Amortization of other intangibles	7,539	8,685	22,618	26,057
Restructuring and other	0	(2)	25	23
Total operating expenses	175,091	125,684	488,222	343,588
Income from operations	21,215	24,107	63,678	71,044
Interest expense, net	(2,450)	(3,455)	(7,958)	(11,170)
Other (expense) income, net	(1,357)	2,526	(1,345)	2,744
Income before income taxes	17,408	23,178	54,375	62,618
Income tax expense	(2,821)	(4,762)	(2,853)	(13,858)
Net income	$ 14,587	$ 18,416	$ 51,522	$ 48,760
Net income per share:
Basic (in dollars per share)	$ 0.05	$ 0.07	$ 0.18	$ 0.17
Diluted (in dollars per share)	$ 0.05	$ 0.06	$ 0.18	$ 0.17
Weighted average shares outstanding:
Basic (in shares)	284,722	281,010	283,773	280,057
Diluted (in shares)	291,845	286,427	290,895	285,884
Subscription
Revenue:
Total revenue	$ 226,290	$ 170,308	$ 635,411	$ 472,338
Cost of revenue:
Cost of revenues	28,284	20,382	80,401	55,415
License
Revenue:
Total revenue	2	257	52	1,337
Service
Revenue:
Total revenue	14,474	12,346	41,397	33,330
Cost of revenue:
Cost of revenues	$ 12,232	$ 8,907	$ 32,921	$ 25,471

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 14,587	$ 18,416	$ 51,522	$ 48,760
Other comprehensive income (loss)
Foreign currency translation adjustment	692	(4,786)	1,428	(9,920)
Total other comprehensive income (loss)	692	(4,786)	1,428	(9,920)
Comprehensive income	$ 15,279	$ 13,630	$ 52,950	$ 38,840

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	(9,920)						(9,920)
Restricted stock units vested (in shares)			1,035,000
Restricted stock awards forfeited (in shares)			(103,000)
Issuance of common stock related to employee stock purchase plan (in shares)			331,000
Issuance of common stock related to employee stock purchase plan	9,195			9,195
Exercise of stock options (in shares)			427,000
Exercise of stock options	6,849			6,849
Share-based compensation	43,091			43,091
Equity repurchases	$ (36)			(36)
Accounting Standards Update [Extensible List]	Accounting Standards Update 2016-02 [Member]
Net income	$ 48,760				48,760
Ending balance (in shares) at Dec. 31, 2020			282,543,000
Ending balance at Dec. 31, 2020	1,063,949		$ 281	1,632,446	(540,753)		(28,025)
Beginning balance (in shares) at Sep. 30, 2020			282,024,000
Beginning balance at Sep. 30, 2020	1,027,119		$ 281	1,609,246	(559,169)		(23,239)
Increase (Decrease) in Partners' Capital [Roll Forward]
Foreign currency translation	(4,786)						(4,786)
Restricted stock units vested (in shares)			229,000
Restricted stock awards forfeited (in shares)			(7,000)
Issuance of common stock related to employee stock purchase plan (in shares)			172,000
Issuance of common stock related to employee stock purchase plan	5,603			5,603
Exercise of stock options (in shares)			125,000
Exercise of stock options	2,020			2,020
Share-based compensation	15,588			15,588
Equity repurchases	(11)			(11)
Net income	18,416				18,416
Ending balance (in shares) at Dec. 31, 2020			282,543,000
Ending balance at Dec. 31, 2020	$ 1,063,949		$ 281	1,632,446	(540,753)		(28,025)
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	1,428						1,428
Restricted stock units vested (in shares)			1,049,000
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)			372,000
Issuance of common stock related to employee stock purchase plan	$ 13,914		$ 1	13,913
Exercise of stock options (in shares)	1,170,000		1,170,000
Exercise of stock options	$ 23,651		$ 1	23,650
Share-based compensation	71,950			71,950
Equity repurchases	(51)			(51)
Net income	$ 51,522				51,522
Ending balance (in shares) at Dec. 31, 2021	285,701,744		285,702,000
Ending balance at Dec. 31, 2021	$ 1,276,015		$ 286	1,762,789	(462,277)		(24,783)
Beginning balance (in shares) at Sep. 30, 2021			285,025,000
Beginning balance at Sep. 30, 2021	1,221,002		$ 285	1,723,056	(476,864)		(25,475)
Increase (Decrease) in Partners' Capital [Roll Forward]
Foreign currency translation	692						692
Restricted stock units vested (in shares)			252,000
Issuance of common stock related to employee stock purchase plan (in shares)			168,000
Issuance of common stock related to employee stock purchase plan	7,321		$ 1	7,320
Exercise of stock options (in shares)			257,000
Exercise of stock options	5,311			5,311
Share-based compensation	27,123			27,123
Equity repurchases	(21)			(21)
Net income	$ 14,587				14,587
Ending balance (in shares) at Dec. 31, 2021	285,701,744		285,702,000
Ending balance at Dec. 31, 2021	$ 1,276,015		$ 286	$ 1,762,789	$ (462,277)		$ (24,783)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income	$ 51,522	$ 48,760
Adjustments to reconcile net income to cash provided by operations:
Depreciation	7,788	6,589
Amortization	34,682	39,046
Share-based compensation	71,950	43,091
Deferred income taxes	34	(3,014)
Other	2,872	(1,240)
Net change in operating assets and liabilities:
Accounts receivable	(22,362)	(37,693)
Deferred commissions	(19,581)	(6,380)
Prepaid expenses and other assets	(17,508)	25,920
Accounts payable and accrued expenses	10,987	14,891
Operating leases, net	683	599
Deferred revenue	41,545	3,996
Net cash provided by operating activities	162,612	134,565
Cash flows from investing activities:
Purchase of property and equipment	(11,768)	(8,868)
Capitalized software additions	0	(248)
Acquisition of businesses, net of cash acquired	(13,195)	0
Net cash used in investing activities	(24,963)	(9,116)
Cash flows from financing activities:
Repayment of term loans	(90,000)	(60,000)
Proceeds from employee stock purchase plan	13,913	9,195
Proceeds from exercise of stock options	23,650	6,849
Equity repurchases	(51)	(36)
Net cash used in financing activities	(52,488)	(43,992)
Effect of exchange rates on cash and cash equivalents	(1,400)	4,878
Net increase in cash and cash equivalents	83,761	86,335
Cash and cash equivalents, beginning of period	324,962	213,170
Cash and cash equivalents, end of period	408,723	299,505
Supplemental cash flow data:
Cash paid for interest	6,549	9,914
Cash paid for (received from) tax, net	$ 12,902	$ (14,472)

Description of the Business

Description of the Business	9 Months Ended
	Dec. 31, 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	9 Months Ended
	Dec. 31, 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 December 31, 2021 and the interim condensed consolidated statements of operations, statements of comprehensive income, and statements of shareholders’ equity for the three and nine months ended December 31, 2021 and 2020, statements of cash flows for the nine months ended December 31, 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 December 31, 2021, its results of operations for the three and nine months ended December 31, 2021 and 2020, and its cash flows for the nine months ended December 31, 2021 and 2020 in accordance with U.S. GAAP. The results for the three and nine months ended December 31, 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 condensed consolidated financial statements. Recently issued accounting pronouncements In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires contract assets and contract liabilities acquired in a business combination to be recognized in accordance with Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers, as if the acquirer had originated the contracts. ASU 2021-08 is effective for annual periods beginning after December 15, 2022, and interim periods within those years, with early adoption permitted. The Company plans to early adopt this standard in the fourth quarter of fiscal 2022 and does not expect the standard to have a material effect on its condensed consolidated financial statements.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Dec. 31, 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 December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Amount % Amount % Amount % Amount % North America $ 133,704 55 % $ 100,918 55 % $ 370,368 55 % $ 281,806 56 % Europe, Middle East and Africa 71,102 30 % 55,945 31 % 207,493 31 % 154,868 30 % Asia Pacific 24,927 10 % 20,643 11 % 71,002 10 % 56,854 11 % Latin America 11,033 5 % 5,405 3 % 27,997 4 % 13,477 3 % Total revenue $ 240,766 $ 182,911 $ 676,860 $ 507,005 For the three and nine months ended December 31, 2021 and 2020, the United States was the only country that represented more than 10% of the Company’s revenues in any period, constituting $124.3 million and 52% and $94.2 million and 51% of total revenue during the three months ended December 31, 2021 and 2020, respectively, and $343.9 million and 51% and $263.3 million and 52% of total revenue for the nine months ended December 31, 2021 and 2020, respectively. Deferred revenue Revenues recognized during the three months ended December 31, 2021 and 2020, which was included in the deferred revenue balances at the beginning of each respective period, was $110.6 million and $87.1 million, respectively. Revenues recognized during the nine months ended December 31, 2021 and 2020 which was included in the deferred revenue balances at the beginning of each respective period, was $447.2 million and $339.5 million, respectively. Remaining performance obligations As of December 31, 2021, the aggregate amount of the transaction price allocated to remaining performance obligations was $1,402.0 million, which consists of both billed consideration in the amount of $594.0 million and unbilled consideration in the amount of $808.0 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	9 Months Ended
	Dec. 31, 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 nine months ended December 31, 2021 consists of the following (in thousands): December 31, 2021 Balance, beginning of period $ 1,271,195 Goodwill from acquisitions (1) 10,374 Foreign currency impact 195 Balance, end of period $ 1,281,764 _________________ (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 December 31, 2021 March 31, 2021 Capitalized software 107 $ 192,536 $ 189,398 Customer relationships 120 351,555 351,555 Trademarks and tradenames 120 55,003 55,003 Total intangible assets 599,094 595,956 Less: accumulated amortization (481,186) (446,472) Total other intangible assets, net $ 117,908 $ 149,484

Income Taxes

Income Taxes	9 Months Ended
	Dec. 31, 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 December 31, 2021 was 16% compared to 21% for the three months ended December 31, 2020. The Company’s effective tax rate for the nine months ended December 31, 2021 was 5% compared to 22% for the nine months ended December 31, 2020. The decrease in the effective tax rate for both the three months ended December 31, 2021 and 2020 and nine months ended December 31, 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 2021. Based on the Company’s review of both positive and negative evidence regarding the realizability of deferred tax assets at December 31, 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 December 31, 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	9 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt Long-term debt consists of the following (in thousands, except percentages): December 31, 2021 March 31, 2021 Amount Effective Rate Amount Effective Rate First Lien Term Loan $ 311,125 2.4 % $ 401,125 2.4 % Revolving credit facility — — Total principal 311,125 401,125 Unamortized discount and debt issuance costs (7,710) (9,212) Total debt 303,415 391,913 Less: Current portion of long-term debt — — Long-term debt $ 303,415 $ 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 $15.7 million and $15.6 million letters of credit issued as of December 31, 2021 and March 31, 2021, respectively. The Company had $44.3 million and $44.4 million of availability under the Revolving Facility as of December 31, 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 December 31, 2021, the Company was in compliance with all applicable covenants.

Leases

Leases	9 Months Ended
	Dec. 31, 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 December 31, 2021, the weighted average remaining lease term was 6.2 years and the weighted average discount rate was 5.7%. The Company does not have any finance leases as of December 31, 2021. The Company has a sublease of a former office which expires in fiscal 2025. Sublease income from operating leases, which is recorded as a reduction of rental expense, was $0.8 million and $1.0 million for the three months ended December 31, 2021 and 2020, respectively, and $1.9 million and $3.3 million for the nine months ended December 31, 2021 and 2020, respectively. The following table presents information about leases on the condensed consolidated statements of operations (in thousands): Three Months Ended December 31, Nine Months Ended December 31, 2021 2021 2020 2021 2020 Operating lease expense (1) $ 2,838 $ 2,640 $ 7,919 $ 8,022 Short-term lease expense $ 258 $ 174 $ 699 $ 524 Variable lease expense $ 202 $ 205 $ 574 $ 549 _________________ (1) Presented gross of sublease income. The following table presents supplemental cash flow information about the Company’s leases (in thousands): Nine Months Ended December 31, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities $ 9,912 $ 10,251 Operating lease assets obtained in exchange for new operating lease liabilities (1) $ 25,151 $ 2,600 _________________ (1) Includes the impact of new leases as well as remeasurements and modifications of existing leases. As of December 31, 2021, remaining maturities of lease liabilities were as follows (in thousands): Fiscal Years Ending March 31, Amount 2022 $ 3,535 2023 14,987 2024 14,303 2025 11,323 2026 8,349 Thereafter 22,083 Total operating lease payments (1) 74,580 Less: imputed interest (9,904) Total operating lease liabilities $ 64,676 _________________ (1) Presented gross of sublease income. As of December 31, 2021, the Company had commitments of $5.8 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 5 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 December 31, 2021, the weighted average remaining lease term was 6.2 years and the weighted average discount rate was 5.7%. The Company does not have any finance leases as of December 31, 2021. The Company has a sublease of a former office which expires in fiscal 2025. Sublease income from operating leases, which is recorded as a reduction of rental expense, was $0.8 million and $1.0 million for the three months ended December 31, 2021 and 2020, respectively, and $1.9 million and $3.3 million for the nine months ended December 31, 2021 and 2020, respectively. The following table presents information about leases on the condensed consolidated statements of operations (in thousands): Three Months Ended December 31, Nine Months Ended December 31, 2021 2021 2020 2021 2020 Operating lease expense (1) $ 2,838 $ 2,640 $ 7,919 $ 8,022 Short-term lease expense $ 258 $ 174 $ 699 $ 524 Variable lease expense $ 202 $ 205 $ 574 $ 549 _________________ (1) Presented gross of sublease income. The following table presents supplemental cash flow information about the Company’s leases (in thousands): Nine Months Ended December 31, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities $ 9,912 $ 10,251 Operating lease assets obtained in exchange for new operating lease liabilities (1) $ 25,151 $ 2,600 _________________ (1) Includes the impact of new leases as well as remeasurements and modifications of existing leases. As of December 31, 2021, remaining maturities of lease liabilities were as follows (in thousands): Fiscal Years Ending March 31, Amount 2022 $ 3,535 2023 14,987 2024 14,303 2025 11,323 2026 8,349 Thereafter 22,083 Total operating lease payments (1) 74,580 Less: imputed interest (9,904) Total operating lease liabilities $ 64,676 _________________ (1) Presented gross of sublease income. As of December 31, 2021, the Company had commitments of $5.8 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 5 to 6 years.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Dec. 31, 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	9 Months Ended
	Dec. 31, 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 December 31, 2021, 37,834,512 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 December 31, 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 115 52.86 Exercised (1,170) 20.22 Forfeited (244) 25.05 Balance, December 31, 2021 7,094 $ 21.87 7.8 $ 272,958 Options vested and expected to vest at December 31, 2021 7,094 $ 21.87 7.8 $ 272,958 Options vested and exercisable at December 31, 2021 2,674 $ 19.68 7.7 $ 108,749 As of December 31, 2021, the total unrecognized compensation expense related to non-vested stock options is $37.0 million and is expected to be recognized over a weighted average period of 1.9 years. The Company recognized $5.6 million and $4.5 million of share-based compensation expense related to stock options for the three months ended December 31, 2021 and 2020, respectively, and $14.9 million and $12.3 million of share-based compensation expense related to stock options for the nine months ended December 31, 2021 and 2020, respectively. Restricted shares and units The following table provides a summary of the changes in the number of restricted stock awards (“RSAs”) and restricted stock units (“RSUs”) for the period ended December 31, 2021: Number of Weighted Average Grant Date Fair Value Number of RSUs Weighted Average (in thousands) (per share) (in thousands) (per share) Balance, March 31, 2021 728 $ 16.00 3,041 $ 24.44 Granted — — 3,269 51.29 Vested (440) 16.00 (1,049) 24.24 Forfeited (19) 16.00 (232) 33.51 Balance, December 31, 2021 269 $ 16.00 5,029 $ 41.52 RSUs outstanding as of December 31, 2021 were comprised of 4.0 million RSUs with only service conditions and 1.0 million RSUs with both service and performance conditions (“PSUs”). During the three and nine months ended December 31, 2021, the Company granted PSUs to certain key employees that generally vest in three equal installments, with one-third of the PSUs eligible to vest on each of the first three During the three and nine months ended December 31, 2021, the Company granted PSUs to certain key employees that vest 25% one three Compensation expense for the PSUs are measured using the fair value at the date of grant and recorded over their respective vesting periods under the graded-vesting attribution method and may be adjusted over the vesting period based on interim estimates of performance against the pre-set objectives. As of December 31, 2021, the total unrecognized compensation expense related to unvested restricted stock awards is $3.2 million and is expected to be recognized over a weighted average period of 0.8 years. As of December 31, 2021, the total unrecognized compensation expense related to unvested restricted stock units is $180.6 million and is expected to be recognized over a weighted average period of 2.5 years. The Company recognized $20.3 million and $9.6 million of share-based compensation expense related to restricted shares and units for the three months ended December 31, 2021 and 2020, respectively, and $53.4 million and $28.3 million of share-based compensation expense related to restricted shares and units for the nine months ended December 31, 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 December 31, 2021, there was approximately $2.3 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 $1.2 million and $1.5 million of share-based compensation expense related to the ESPP for the three months ended December 31, 2021 and 2020, respectively, and $3.6 million and $2.5 million of share-based compensation expense related to the ESPP for the nine months ended December 31, 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 December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Cost of revenue $ 3,405 $ 2,066 $ 9,542 $ 5,430 Research and development 5,908 3,259 15,331 8,666 Sales and marketing 9,267 6,480 26,487 18,007 General and administrative 8,543 3,783 20,590 10,988 Total share-based compensation $ 27,123 $ 15,588 $ 71,950 $ 43,091

Net Income Per Share

Net Income Per Share	9 Months Ended
	Dec. 31, 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 December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Numerator: Net income $ 14,587 $ 18,416 $ 51,522 $ 48,760 Denominator: Weighted average shares outstanding, basic 284,722 281,010 283,773 280,057 Dilutive effect of stock-based awards 7,123 5,417 7,122 5,827 Weighted average shares outstanding, diluted 291,845 286,427 290,895 285,884 Net income per share, basic $ 0.05 $ 0.07 $ 0.18 $ 0.17 Net income per share, diluted $ 0.05 $ 0.06 $ 0.18 $ 0.17 The effect of certain common share equivalents were excluded from the computation of weighted average diluted shares outstanding for the three and nine months ended December 31, 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 December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Stock options 147 2,185 167 1,777 Unvested RSAs and RSUs 49 6 67 31 Shares committed under ESPP — 2 — 2

Geographic Information

Geographic Information	9 Months Ended
	Dec. 31, 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): December 31, 2021 March 31, 2021 North America $ 14,636 $ 12,129 Europe, Middle East and Africa 25,813 23,124 Asia Pacific 1,397 1,619 Latin America 138 44 Total property and equipment, net $ 41,984 $ 36,916

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Dec. 31, 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 December 31, 2021 and the interim condensed consolidated statements of operations, statements of comprehensive income, and statements of shareholders’ equity for the three and nine months ended December 31, 2021 and 2020, statements of cash flows for the nine months ended December 31, 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 December 31, 2021, its results of operations for the three and nine months ended December 31, 2021 and 2020, and its cash flows for the nine months ended December 31, 2021 and 2020 in accordance with U.S. GAAP. The results for the three and nine months ended December 31, 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 and recently issues 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 condensed consolidated financial statements. Recently issued accounting pronouncements In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires contract assets and contract liabilities acquired in a business combination to be recognized in accordance with Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers, as if the acquirer had originated the contracts. ASU 2021-08 is effective for annual periods beginning after December 15, 2022, and interim periods within those years, with early adoption permitted. The Company plans to early adopt this standard in the fourth quarter of fiscal 2022 and does not expect the standard to have a material effect on its condensed consolidated financial statements.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Dec. 31, 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 December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Amount % Amount % Amount % Amount % North America $ 133,704 55 % $ 100,918 55 % $ 370,368 55 % $ 281,806 56 % Europe, Middle East and Africa 71,102 30 % 55,945 31 % 207,493 31 % 154,868 30 % Asia Pacific 24,927 10 % 20,643 11 % 71,002 10 % 56,854 11 % Latin America 11,033 5 % 5,405 3 % 27,997 4 % 13,477 3 % Total revenue $ 240,766 $ 182,911 $ 676,860 $ 507,005

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets, Net (Tables)	9 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the carrying amount of goodwill on a consolidated basis for the nine months ended December 31, 2021 consists of the following (in thousands): December 31, 2021 Balance, beginning of period $ 1,271,195 Goodwill from acquisitions (1) 10,374 Foreign currency impact 195 Balance, end of period $ 1,281,764 _________________ (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 December 31, 2021 March 31, 2021 Capitalized software 107 $ 192,536 $ 189,398 Customer relationships 120 351,555 351,555 Trademarks and tradenames 120 55,003 55,003 Total intangible assets 599,094 595,956 Less: accumulated amortization (481,186) (446,472) Total other intangible assets, net $ 117,908 $ 149,484

Long-term Debt - Schedule of Lo

Long-term Debt - Schedule of Long-Term Debt (Tables)	9 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt consists of the following (in thousands, except percentages): December 31, 2021 March 31, 2021 Amount Effective Rate Amount Effective Rate First Lien Term Loan $ 311,125 2.4 % $ 401,125 2.4 % Revolving credit facility — — Total principal 311,125 401,125 Unamortized discount and debt issuance costs (7,710) (9,212) Total debt 303,415 391,913 Less: Current portion of long-term debt — — Long-term debt $ 303,415 $ 391,913

Leases (Tables)

Leases (Tables)	9 Months Ended
	Dec. 31, 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 December 31, Nine Months Ended December 31, 2021 2021 2020 2021 2020 Operating lease expense (1) $ 2,838 $ 2,640 $ 7,919 $ 8,022 Short-term lease expense $ 258 $ 174 $ 699 $ 524 Variable lease expense $ 202 $ 205 $ 574 $ 549 _________________ (1) Presented gross of sublease income. The following table presents supplemental cash flow information about the Company’s leases (in thousands): Nine Months Ended December 31, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities $ 9,912 $ 10,251 Operating lease assets obtained in exchange for new operating lease liabilities (1) $ 25,151 $ 2,600 _________________ (1) Includes the impact of new leases as well as remeasurements and modifications of existing leases.
Schedule of Maturities of Lease Liabilities	As of December 31, 2021, remaining maturities of lease liabilities were as follows (in thousands): Fiscal Years Ending March 31, Amount 2022 $ 3,535 2023 14,987 2024 14,303 2025 11,323 2026 8,349 Thereafter 22,083 Total operating lease payments (1) 74,580 Less: imputed interest (9,904) Total operating lease liabilities $ 64,676 _________________ (1) Presented gross of sublease income.

Share-based Compensation (Table

Share-based Compensation (Tables)	9 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Summary of Activity for Stock Options	The following table summarizes activity for stock options during the period ended December 31, 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 115 52.86 Exercised (1,170) 20.22 Forfeited (244) 25.05 Balance, December 31, 2021 7,094 $ 21.87 7.8 $ 272,958 Options vested and expected to vest at December 31, 2021 7,094 $ 21.87 7.8 $ 272,958 Options vested and exercisable at December 31, 2021 2,674 $ 19.68 7.7 $ 108,749
Summary of Activity for Restricted Shares	The following table provides a summary of the changes in the number of restricted stock awards (“RSAs”) and restricted stock units (“RSUs”) for the period ended December 31, 2021: Number of Weighted Average Grant Date Fair Value Number of RSUs Weighted Average (in thousands) (per share) (in thousands) (per share) Balance, March 31, 2021 728 $ 16.00 3,041 $ 24.44 Granted — — 3,269 51.29 Vested (440) 16.00 (1,049) 24.24 Forfeited (19) 16.00 (232) 33.51 Balance, December 31, 2021 269 $ 16.00 5,029 $ 41.52
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 December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Cost of revenue $ 3,405 $ 2,066 $ 9,542 $ 5,430 Research and development 5,908 3,259 15,331 8,666 Sales and marketing 9,267 6,480 26,487 18,007 General and administrative 8,543 3,783 20,590 10,988 Total share-based compensation $ 27,123 $ 15,588 $ 71,950 $ 43,091

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
	Dec. 31, 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 December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Numerator: Net income $ 14,587 $ 18,416 $ 51,522 $ 48,760 Denominator: Weighted average shares outstanding, basic 284,722 281,010 283,773 280,057 Dilutive effect of stock-based awards 7,123 5,417 7,122 5,827 Weighted average shares outstanding, diluted 291,845 286,427 290,895 285,884 Net income per share, basic $ 0.05 $ 0.07 $ 0.18 $ 0.17 Net income per share, diluted $ 0.05 $ 0.06 $ 0.18 $ 0.17
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 December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Stock options 147 2,185 167 1,777 Unvested RSAs and RSUs 49 6 67 31 Shares committed under ESPP — 2 — 2

Geographic Information (Tables)

Geographic Information (Tables)	9 Months Ended
	Dec. 31, 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): December 31, 2021 March 31, 2021 North America $ 14,636 $ 12,129 Europe, Middle East and Africa 25,813 23,124 Asia Pacific 1,397 1,619 Latin America 138 44 Total property and equipment, net $ 41,984 $ 36,916

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Amount	$ 240,766	$ 182,911	$ 676,860	$ 507,005
North America
Disaggregation of Revenue [Line Items]
Amount	$ 133,704	$ 100,918	$ 370,368	$ 281,806
North America | Revenue Benchmark | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
%	55.00%	55.00%	55.00%	56.00%
Europe, Middle East and Africa
Disaggregation of Revenue [Line Items]
Amount	$ 71,102	$ 55,945	$ 207,493	$ 154,868
Europe, Middle East and Africa | Revenue Benchmark | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
%	30.00%	31.00%	31.00%	30.00%
Asia Pacific
Disaggregation of Revenue [Line Items]
Amount	$ 24,927	$ 20,643	$ 71,002	$ 56,854
Asia Pacific | Revenue Benchmark | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
%	10.00%	11.00%	10.00%	11.00%
Latin America
Disaggregation of Revenue [Line Items]
Amount	$ 11,033	$ 5,405	$ 27,997	$ 13,477
Latin America | Revenue Benchmark | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
%	5.00%	3.00%	4.00%	3.00%

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue and Deferred Revenue (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Total revenue	$ 240,766	$ 182,911	$ 676,860	$ 507,005
Revenue recognized	110,600	87,100	447,200	339,500
Revenue Benchmark | Geographic Concentration Risk | UNITED STATES
Disaggregation of Revenue [Line Items]
Total revenue	$ 124,300	$ 94,200	$ 343,900	$ 263,300
Concentration risk percentage	52.00%	51.00%	51.00%	52.00%

Revenue Recognition - Remaining

Revenue Recognition - Remaining Performance Obligations (Narrative) (Details) $ in Millions	Dec. 31, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 1,402
Billed consideration
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	594
Unbilled consideration
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 808
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	9 Months Ended
	Dec. 31, 2021USD ($)
Goodwill [Roll Forward]
Balance, beginning of period	$ 1,271,195
Goodwill from acquisitions	10,374
Foreign currency impact	195
Balance, end of period	$ 1,281,764

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets, Net - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2021	Mar. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 599,094	$ 595,956
Less: accumulated amortization	(481,186)	(446,472)
Total other intangible assets, net	$ 117,908	149,484
Capitalized software
Finite-Lived Intangible Assets [Line Items]
Weighted Average  Useful Life (in months)	107 years
Total intangible assets	$ 192,536	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		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of other intangibles	$ 11,600	$ 13,000	$ 34,682	$ 39,046

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Effective tax rate	16.00%	21.00%	5.00%	22.00%
Anticipated tax refunds	$ 2.1	$ 2.1	$ 2.1	$ 2.1

Long-term Debt - Schedule of _2

Long-term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Debt Instrument [Line Items]
Total principal	$ 311,125	$ 401,125
Unamortized discount and debt issuance costs	(7,710)	(9,212)
Total debt	303,415	391,913
Less: Current portion of long-term debt	0	0
Long-term debt	303,415	391,913
First Lien Term Loan | Secured Debt
Debt Instrument [Line Items]
Total principal	$ 311,125	$ 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 ($)	9 Months Ended
	Dec. 31, 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	$ 44,300,000	$ 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	$ 15,700,000	$ 15,600,000

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Weighted average remaining lease term	6 years 2 months 12 days		6 years 2 months 12 days
Weighted average discount rate	5.70%		5.70%
Sublease Income	$ 0.8	$ 1	$ 1.9	$ 3.3
Operating lease that has not yet commenced	$ 5.8		$ 5.8
Minimum
Lessee, Lease, Description [Line Items]
Operating lease that has not yet commenced, term	5 years		5 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		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease expense	$ 2,838	$ 2,640	$ 7,919	$ 8,022
Short-term lease expense	258	174	699	524
Variable lease expense	$ 202	$ 205	$ 574	$ 549

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 9,912	$ 10,251
Operating lease assets obtained in exchange for new operating lease liabilities	$ 25,151	$ 2,600

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Lease Liabilities (Details) $ in Thousands	Dec. 31, 2021USD ($)
Leases [Abstract]
2022	$ 3,535
2023	14,987
2024	14,303
2025	11,323
2026	8,349
Thereafter	22,083
Total operating lease payments	74,580
Less: imputed interest	(9,904)
Total operating lease liabilities	$ 64,676

Share-based Compensation - Narr

Share-based Compensation - Narrative (Details) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Jul. 31, 2019shares	Dec. 31, 2021USD ($)installmentshares	Dec. 31, 2020USD ($)	Dec. 31, 2021USD ($)installmentshares	Dec. 31, 2020USD ($)	Mar. 31, 2021shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost		$ 37,000		$ 37,000
Stock compensation expense		27,123	$ 15,588	$ 71,950	$ 43,091
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period of recognition				1 year 10 months 24 days
Stock compensation expense		5,600	4,500	$ 14,900	12,300
Unvested RSAs and RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense		$ 20,300	9,600	$ 53,400	28,300
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period of recognition				9 months 18 days
Outstanding shares (in shares) | shares		269,000		269,000		728,000
Total unrecognized compensation cost		$ 3,200		$ 3,200
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period of recognition				2 years 6 months
Outstanding shares (in shares) | shares		5,029,000		5,029,000		3,041,000
Total unrecognized compensation cost		$ 180,600		$ 180,600
Restricted Stock Units (RSUs) | Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding shares (in shares) | shares		4,000,000		4,000,000
Performance-Based Restricted Stock Units, Incentive PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equal installments | installment		3		3
Award vesting period		3 years		3 years
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]
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%
Number of equal installments | installment				12
Award vesting period				3 years
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) | shares	52,000,000	37,834,512		37,834,512
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		$ 1,200	$ 1,500	$ 3,600	$ 2,500
Total unrecognized compensation cost		$ 2,300		$ 2,300
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) | shares		11,187,354		11,187,354
Issuance of common stock related to employee stock purchase plan (in shares) | shares				371,740

Share-based Compensation - Sche

Share-based Compensation - Schedule of Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 30, 2021	Dec. 31, 2021	Mar. 31, 2021
Number of Options
Beginning balance (in shares)	8,393	8,393
Granted (in shares)		115
Exercised (in shares)		(1,170)
Forfeited (in shares)		(244)
Ending balance (in shares)		7,094
Options vested and expected to vest (in shares)		7,094
Options vested and exercisable (in shares)		2,674
Weighted Average Exercise Price
Beginning balance (in dollars per share)	$ 21.31	$ 21.31
Granted (in dollars per share)		52.86
Exercised (in dollars per share)		20.22
Forfeited (in dollars per share)		25.05
Ending valance (in dollars per share)		21.87
Weighted average exercise price, options vested and expected to vest (in dollars per share)		21.87
Weighted average exercise price, options vested and exercisable (in dollars per share)		$ 19.68
Weighted average remaining contractual term	8 years 7 months 6 days	7 years 9 months 18 days
Weighted average remaining contractual term, options vested and expected to vest		7 years 9 months 18 days
Weighted average remaining contractual term, options vested and exercisable		7 years 8 months 12 days
Aggregate intrinsic value		$ 272,958	$ 226,438
Aggregate intrinsic value, options vested and expected to vest		272,958
Aggregate intrinsic value, options vested and exercisable		$ 108,749
Restricted Stock
Number of Restricted Shares
Beginning balance (in shares)	728	728
Granted (in shares)		0
Vested (in shares)		(440)
Forfeited (in shares)		(19)
Ending balance (in shares)		269
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 16	$ 16
Granted (in dollars per share)		0
Vested (in dollars per share)		16
Forfeited (in dollars per share)		16
Ending balance (in dollars per share)		$ 16
Restricted Stock Units (RSUs)
Number of Restricted Shares
Beginning balance (in shares)	3,041	3,041
Granted (in shares)		3,269
Vested (in shares)		(1,049)
Forfeited (in shares)		(232)
Ending balance (in shares)		5,029
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 24.44	$ 24.44
Granted (in dollars per share)		51.29
Vested (in dollars per share)		24.24
Forfeited (in dollars per share)		33.51
Ending balance (in dollars per share)		$ 41.52
Restricted Stock Units (RSUs) | Share-based Payment Arrangement, Tranche Two
Number of Restricted Shares
Granted (in shares)		1,000

Share-based Compensation - Sc_2

Share-based Compensation - Schedule of Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 27,123	$ 15,588	$ 71,950	$ 43,091
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	3,405	2,066	9,542	5,430
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	5,908	3,259	15,331	8,666
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	9,267	6,480	26,487	18,007
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 8,543	$ 3,783	$ 20,590	$ 10,988

Net Income Per Share - Summary

Net Income Per Share - Summary of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Numerator:
Net income	$ 14,587	$ 18,416	$ 51,522	$ 48,760
Denominator:
Weighted average shares outstanding, basic (in shares)	284,722	281,010	283,773	280,057
Dilutive effect of stock-based awards (in shares)	7,123	5,417	7,122	5,827
Weighted average shares outstanding, diluted (in shares)	291,845	286,427	290,895	285,884
Net income per share, basic (in dollars per share)	$ 0.05	$ 0.07	$ 0.18	$ 0.17
Net income per share, diluted (in dollars per share)	$ 0.05	$ 0.06	$ 0.18	$ 0.17

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		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common share equivalents (in shares)	147	2,185	167	1,777
Unvested RSAs and RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common share equivalents (in shares)	49	6	67	31
Shares committed under ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common share equivalents (in shares)	0	2	0	2

Geographic Information - Summar

Geographic Information - Summary of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	$ 41,984	$ 36,916
North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	14,636	12,129
Europe, Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	25,813	23,124
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	1,397	1,619
Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	$ 138	$ 44