Dynatrace (DT) 10-Q 3 Aug 22 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Jun. 30, 2022	Aug. 01, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
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	781
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		287,339,714
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001773383
Current Fiscal Year End Date	--03-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022
Current assets:
Cash and cash equivalents	$ 571,345	$ 462,967
Accounts receivable, net	191,836	350,666
Deferred commissions, current	61,182	62,601
Prepaid expenses and other current assets	35,439	72,188
Total current assets	859,802	948,422
Property and equipment, net	45,782	45,271
Operating lease right-of-use assets, net	53,369	58,849
Goodwill	1,280,511	1,281,876
Other intangible assets, net	95,008	105,736
Deferred tax assets, net	26,368	28,106
Deferred commissions, non-current	59,245	63,435
Other assets	10,564	9,615
Total assets	2,430,649	2,541,310
Current liabilities:
Accounts payable	4,795	22,715
Accrued expenses, current	114,214	141,556
Deferred revenue, current	617,969	688,554
Operating lease liabilities, current	12,402	12,774
Total current liabilities	749,380	865,599
Deferred revenue, non-current	16,352	25,783
Accrued expenses, non-current	28,182	19,409
Operating lease liabilities, non-current	46,682	52,070
Deferred tax liabilities	0	85
Long-term debt, net	244,427	273,918
Total liabilities	1,085,023	1,236,864
Commitments and contingencies (Note 8)
Shareholders' equity:
Common shares, $0.001 par value, 600,000,000 shares authorized, 287,259,306 and 286,053,276 shares issued and outstanding at June 30, 2022 and March 31, 2022, respectively	287	286
Additional paid-in capital	1,830,782	1,792,197
Accumulated deficit	(459,234)	(461,348)
Accumulated other comprehensive loss	(26,209)	(26,689)
Total shareholders' equity	1,345,626	1,304,446
Total liabilities and shareholders' equity	$ 2,430,649	$ 2,541,310

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Mar. 31, 2022
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)	287,259,306	286,053,276
Common shares, outstanding (in shares)	287,259,306	286,053,276

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Revenue:
Total revenue	$ 267,273	$ 209,740
Cost of revenue:
Amortization of acquired technology	3,892	3,830
Total cost of revenue	51,798	38,833
Gross profit	215,475	170,907
Operating expenses:
Research and development	48,482	34,725
Sales and marketing	105,015	80,482
General and administrative	36,321	26,922
Amortization of other intangibles	6,573	7,540
Restructuring and other	(10)	26
Total operating expenses	196,381	149,695
Income from operations	19,094	21,212
Interest expense, net	(2,175)	(2,857)
Other (expense) income, net	(2,250)	1,311
Income before income taxes	14,669	19,666
Income tax expense	(12,555)	(6,372)
Net income	$ 2,114	$ 13,294
Net income per share:
Basic (in dollars per share)	$ 0.01	$ 0.05
Diluted (in dollars per share)	$ 0.01	$ 0.05
Weighted average shares outstanding:
Basic (in shares)	286,203	282,661
Diluted (in shares)	290,024	288,988
Subscription
Revenue:
Total revenue	$ 249,558	$ 196,520
Cost of revenue:
Cost of revenues	32,738	24,982
License
Revenue:
Total revenue	0	50
Service
Revenue:
Total revenue	17,715	13,170
Cost of revenue:
Cost of revenues	$ 15,168	$ 10,021

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 2,114	$ 13,294
Other comprehensive income (loss)
Foreign currency translation adjustment	480	(1,658)
Total other comprehensive income (loss)	480	(1,658)
Comprehensive income	$ 2,594	$ 11,636

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Shares	Additional  Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Mar. 31, 2021		283,130,000
Beginning balance at Mar. 31, 2021	$ 1,113,601	$ 283	$ 1,653,328	$ (513,799)	$ (26,211)
Increase (Decrease) in Partners' Capital [Roll Forward]
Foreign currency translation	(1,658)				(1,658)
Restricted stock units vested (in shares)		496,000
Restricted stock units vested	0	$ 1	(1)
Issuance of common stock related to employee stock purchase plan (in shares)		204,000
Issuance of common stock related to employee stock purchase plan	6,593		6,593
Exercise of stock options (in shares)		388,000
Exercise of stock options	7,886		7,886
Share-based compensation	19,252		19,252
Equity repurchases	(14)		(14)
Net income	13,294			13,294
Ending balance (in shares) at Jun. 30, 2021		284,218,000
Ending balance at Jun. 30, 2021	$ 1,158,954	$ 284	1,687,044	(500,505)	(27,869)
Beginning balance (in shares) at Mar. 31, 2022	286,053,276	286,053,000
Beginning balance at Mar. 31, 2022	$ 1,304,446	$ 286	1,792,197	(461,348)	(26,689)
Increase (Decrease) in Partners' Capital [Roll Forward]
Foreign currency translation	480				480
Restricted stock units vested (in shares)		886,000
Restricted stock units vested	0	$ 1	(1)
Restricted stock awards forfeited (in shares)		(14,000)
Issuance of common stock related to employee stock purchase plan (in shares)		266,000
Issuance of common stock related to employee stock purchase plan	$ 8,627	$ 0	8,627
Exercise of stock options (in shares)	68,000	68,000
Exercise of stock options	$ 1,275		1,275
Share-based compensation	28,695		28,695
Equity repurchases	(11)		(11)
Net income	$ 2,114			2,114
Ending balance (in shares) at Jun. 30, 2022	287,259,306	287,259,000
Ending balance at Jun. 30, 2022	$ 1,345,626	$ 287	$ 1,830,782	$ (459,234)	$ (26,209)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net income	$ 2,114	$ 13,294
Adjustments to reconcile net income to cash provided by operations:
Depreciation	2,798	2,475
Amortization	10,571	11,512
Share-based compensation	28,695	19,252
Other	2,748	(796)
Net change in operating assets and liabilities:
Accounts receivable	151,404	110,079
Deferred commissions	2,079	(2,631)
Prepaid expenses and other assets	33,096	(1,453)
Accounts payable and accrued expenses	(29,815)	(27,376)
Operating leases, net	(142)	131
Deferred revenue	(60,450)	(41,015)
Net cash provided by operating activities	143,098	83,472
Cash flows from investing activities:
Purchase of property and equipment	(6,906)	(2,954)
Acquisition of businesses, net of cash acquired	0	(3,543)
Net cash used in investing activities	(6,906)	(6,497)
Cash flows from financing activities:
Repayment of term loans	(30,000)	(30,000)
Proceeds from employee stock purchase plan	8,627	6,593
Proceeds from exercise of stock options	1,275	7,886
Equity repurchases	(11)	(14)
Net cash used in financing activities	(20,109)	(15,535)
Effect of exchange rates on cash and cash equivalents	(7,705)	816
Net increase in cash and cash equivalents	108,378	62,256
Cash and cash equivalents, beginning of period	462,967	324,962
Cash and cash equivalents, end of period	571,345	387,218
Supplemental cash flow data:
Cash paid for interest	2,066	2,370
Cash (received from) paid for tax, net	$ (31,542)	$ 7,306

Description of the Business

Description of the Business	3 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the Business	Description of the Business Business Dynatrace, Inc. (“Dynatrace”, or 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 2023, for example, refer to the fiscal year ended March 31, 2023.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Jun. 30, 2022
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. There were no new recently issued accounting pronouncements that were expected to have a material impact on the condensed consolidated financial statements and related notes. Unaudited interim consolidated financial information The accompanying interim condensed consolidated balance sheet as of June 30, 2022 and the interim condensed consolidated statements of operations, statements of comprehensive income, and statements of shareholders’ equity for the three months ended June 30, 2022 and 2021, statements of cash flows for the three months ended June 30, 2022 and 2021, and the related disclosures, are unaudited. In management’s opinion, the unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and includes all normal and recurring adjustments necessary for the fair presentation of the Company’s financial position as of June 30, 2022, its results of operations for the three months ended June 30, 2022 and 2021, and its cash flows for the three months ended June 30, 2022 and 2021 in accordance with U.S. GAAP. The results for the three months ended June 30, 2022 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, 2022 (“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, income taxes, equity-based compensation expense, 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. Reclassification Certain reclassifications of prior period amounts have been made in the Company’s condensed consolidated financial statements to conform to the current period presentation. These reclassifications had no effect on the reported results of operations.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Disaggregation of revenue The following table is a summary of the Company’s total revenues by geographic region (in thousands, except percentages): Three Months Ended June 30, 2022 2021 Amount % Amount % North America $ 156,749 59 % $ 112,772 53 % Europe, Middle East and Africa 70,148 26 % 67,044 32 % Asia Pacific 26,095 10 % 22,136 11 % Latin America 14,281 5 % 7,788 4 % Total revenue $ 267,273 $ 209,740 For the three months ended June 30, 2022 and 2021, the United States was the only country that represented more than 10% of the Company’s revenues in any period, constituting $147.5 million and 55% and $104.5 million and 50% of total revenue during the three months ended June 30, 2022 and 2021, respectively. Deferred revenue Revenues recognized during the three months ended June 30, 2022 and 2021, which were included in the deferred revenue balances at the beginning of each respective period, was $258.5 million and $185.1 million, respectively. Remaining performance obligations As of June 30, 2022, the aggregate amount of the transaction price allocated to remaining performance obligations was $1,529.6 million, which consists of both billed consideration in the amount of $634.3 million and unbilled consideration in the amount of $895.3 million that the Company expects to recognize as subscription and service revenue. The Company expects to recognize 57% of this amount as revenue over the next twelve months and the remainder thereafter.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets, Net	3 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets, Net	Goodwill and Other Intangible Assets, Net Changes in the carrying amount of goodwill on a consolidated basis for the three months ended June 30, 2022 consists of the following (in thousands): June 30, 2022 Balance, beginning of period $ 1,281,876 Foreign currency impact (1,365) Balance, end of period $ 1,280,511 Other intangible assets, net excluding goodwill consists of the following (in thousands): Weighted June 30, 2022 March 31, 2022 Capitalized software 107 $ 191,682 $ 191,900 Customer relationships 120 351,555 351,555 Trademarks and tradenames 120 55,003 55,003 Total intangible assets 598,240 598,458 Less: accumulated amortization (503,232) (492,722) Total other intangible assets, net $ 95,008 $ 105,736 Amortization of other intangible assets totaled $10.6 million and $11.5 million for the three months ended June 30, 2022 and 2021, respectively.

Income Taxes

Income Taxes	3 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company computes its interim provision for income taxes by applying the estimated annual effective tax rate to income from operations and adjusts the provision for discrete tax items occurring in the period. The Company’s effective tax rate for the three months ended June 30, 2022 was 86% compared to 32% for the three months ended June 30, 2021. The increase in the effective tax rate for the three months ended June 30, 2022 is primarily due to a change to Internal Revenue Code (“IRC”) Section 174 which became effective for tax years beginning on or after January 1, 2022. Under the new rules, the Company is required to capitalize and amortize research and development expenses over five years for research activities conducted in the U.S. and over fifteen years for research activities conducted outside of the U.S. The capitalization of research and development expenses resulted in an increase to the Company’s taxable income and foreign derived intangible income (“FDII”), resulting in a corresponding increase in the Company’s FDII deduction. However, no tax benefit is recognized for the deferred tax asset established for these capitalized research and development expenses due to the Company’s valuation allowance position in the U.S. Based on the Company’s review of both positive and negative evidence regarding the realizability of deferred tax assets at June 30, 2022, a valuation allowance continues to be recorded against certain deferred tax assets based upon the conclusion that it was more likely than not that these assets would not be realized. The valuation allowance at June 30, 2022 relates primarily to capitalized development costs, share-based compensation, accrued interest 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 ability to generate U.S. taxable earnings and utilization of deferred tax assets.

Long-term Debt

Long-term Debt	3 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt Long-term debt consists of the following (in thousands, except percentages): June 30, 2022 March 31, 2022 Amount Effective Rate Amount Effective Rate First Lien Term Loan $ 251,125 3.9 % $ 281,125 2.7 % Revolving credit facility — — Total principal 251,125 281,125 Unamortized discount and debt issuance costs (6,698) (7,207) Total debt 244,427 273,918 Less: Current portion of long-term debt — — Long-term debt $ 244,427 $ 273,918 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 $15.4 million and $15.6 million letters of credit issued as of June 30, 2022 and March 31, 2022, respectively. The Company had $44.6 million and $44.4 million of availability under the Revolving Facility as of June 30, 2022 and March 31, 2022, 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 June 30, 2022, the Company was in compliance with all applicable covenants.

Leases

Leases	3 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Leases	Leases The Company leases office space under non-cancelable operating leases which expire at various dates from fiscal 2023 to 2032 . As of June 30, 2022, the weighted average remaining lease term was 5.8 years and the weighted average discount rate was 5.2% . The Company does not have any finance leases as of June 30, 2022. 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 $0.6 million for the three months ended June 30, 2022 and 2021, respectively. The following table presents information about leases on the condensed consolidated statements of operations (in thousands): Three Months Ended June 30, 2022 2021 Operating lease expense (1) $ 2,924 $ 2,469 Short-term lease expense $ 364 $ 195 Variable lease expense $ 269 $ 161 _________________ (1) Presented gross of sublease income. The following table presents supplemental cash flow information about the Company’s leases (in thousands): Three Months Ended June 30, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities $ 3,844 $ 3,191 Operating lease assets obtained in exchange for new operating lease liabilities (1) $ 116 $ 7,533 _________________ (1) Includes the impact of new leases as well as remeasurements and modifications of existing leases. As of June 30, 2022, remaining maturities of lease liabilities were as follows (in thousands): Fiscal Years Ending March 31, Amount 2023 $ 11,222 2024 14,404 2025 11,418 2026 8,552 2027 7,655 Thereafter 13,393 Total operating lease payments (1) 66,644 Less: imputed interest (7,560) Total operating lease liabilities $ 59,084 _________________ (1) Presented gross of sublease income. As of June 30, 2022, the Company had commitments o f $35.1 million f or 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, 2023 through March 31, 2025, with lease terms ranging from 3 to 10 years.
Leases	Leases The Company leases office space under non-cancelable operating leases which expire at various dates from fiscal 2023 to 2032 . As of June 30, 2022, the weighted average remaining lease term was 5.8 years and the weighted average discount rate was 5.2% . The Company does not have any finance leases as of June 30, 2022. 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 $0.6 million for the three months ended June 30, 2022 and 2021, respectively. The following table presents information about leases on the condensed consolidated statements of operations (in thousands): Three Months Ended June 30, 2022 2021 Operating lease expense (1) $ 2,924 $ 2,469 Short-term lease expense $ 364 $ 195 Variable lease expense $ 269 $ 161 _________________ (1) Presented gross of sublease income. The following table presents supplemental cash flow information about the Company’s leases (in thousands): Three Months Ended June 30, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities $ 3,844 $ 3,191 Operating lease assets obtained in exchange for new operating lease liabilities (1) $ 116 $ 7,533 _________________ (1) Includes the impact of new leases as well as remeasurements and modifications of existing leases. As of June 30, 2022, remaining maturities of lease liabilities were as follows (in thousands): Fiscal Years Ending March 31, Amount 2023 $ 11,222 2024 14,404 2025 11,418 2026 8,552 2027 7,655 Thereafter 13,393 Total operating lease payments (1) 66,644 Less: imputed interest (7,560) Total operating lease liabilities $ 59,084 _________________ (1) Presented gross of sublease income. As of June 30, 2022, the Company had commitments o f $35.1 million f or 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, 2023 through March 31, 2025, with lease terms ranging from 3 to 10 years.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal matters From time to time, the Company may be a party to lawsuits and legal proceedings arising in the ordinary course of business. In the opinion of the Company’s management, these matters, individually and in the aggregate, will not have a material adverse effect on the financial condition and results of the future operations of the Company.

Share-based Compensation

Share-based Compensation	3 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Share-based Compensation	Share-based Compensation Amended and Restated 2019 Equity Incentive Plan In July 2019, the Company’s board of directors (the “Board”), upon the recommendation of the compensation committee of the board of directors, adopted the 2019 Equity Incentive Plan, as amended and restated (the “2019 Plan”) which was subsequently approved by the Company’s shareholders and was later amended and restated by the Board in January 2021. The Company initially reserved 52,000,000 shares of common stock, or the Initial Limit, for the issuance of awards under the 2019 Plan. The 2019 Plan provides that the number of shares reserved and available for issuance under the plan will automatically increase each April 1, beginning on April 1, 2020, by 4% of the outstanding number of shares of the Company’s common stock on the immediately preceding March 31 or such lesser number determined by the compensation committee. This number is subject to adjustment in the event of a stock split, stock dividend or other change in the Company’s capitalization. As of June 30, 2022, 45,109,077 shares of common stock were available for future issuance under the 2019 Plan. Stock options The following table summarizes activity for stock options during the period ended June 30, 2022: 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, 2022 6,968 $ 21.87 7.6 $ 176,839 Exercised (68) 18.79 Forfeited or expired (368) 24.33 Balance, June 30, 2022 6,532 $ 21.77 6.8 $ 117,968 Options vested and expected to vest at June 30, 2022 6,532 $ 21.77 6.8 $ 117,968 Options vested and exercisable at June 30, 2022 3,627 $ 20.36 6.3 $ 69,870 As of June 30, 2022, the total unrecognized compensation expense related to non-vested stock options is $24.0 million and is expected to be recognized over a weighted average period of 1.5 years. The Company recognized $5.2 million and $4.7 million of share-based compensation expense related to stock options for the three months ended June 30, 2022 and 2021, 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 June 30, 2022: Number of Weighted Average Grant Date Fair Value Number of RSUs Weighted Average (in thousands) (per share) (in thousands) (per share) Balance, March 31, 2022 202 $ 16.00 5,180 $ 42.43 Granted — — 4,714 40.60 Vested (116) 16.00 (886) 39.87 Forfeited (14) 16.00 (379) 42.48 Balance, June 30, 2022 72 $ 16.00 8,629 $ 41.61 RSUs outstanding as of June 30, 2022 were comprised of 7.5 million RSUs with only service conditions and 1.1 million RSUs with both service and performance conditions (“PSUs”). During the three months ended June 30, 2022, the Company granted PSUs to certain key employees that vest 33% one year after the grant date and the remaining 67% vest ratably on a quarterly basis over the following two years (the “Annual PSUs”). 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, 2023. 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 33% of the earned Annual PSUs vesting on the first anniversary of the grant date, and with the remaining 67% vesting in eight equal quarterly installments over the following two years, and provided that the executive officer remains employed by the Company through the applicable vesting date. As of June 30, 2022, the total unrecognized compensation expense related to unvested restricted stock awards is $1.0 million and is expected to be recognized over a weighted average period of 0.6 years. As of June 30, 2022, the total unrecognized compensation expense related to unvested restricted stock units is $322.9 million and is expected to be recognized over a weighted average period of 2.6 years. The Company recognized $22.0 million and $13.5 million of share-based compensation expense related to restricted shares and units for the three months ended June 30, 2022 and 2021, respectively. Employee Stock Purchase Plan In July 2019, the Board 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-month purchase periods. On each purchase date, eligible employees will purchase shares of the Company’s common stock at a price per share equal to 85% of the lesser of (1) the fair market value of the Company’s common stock on the offering date or (2) the fair market value of the Company’s common stock on the purchase date. For the three months ended June 30, 2022, 265,681 shares of common stock were purchased under the ESPP. As of June 30, 2022, 13,782,205 shares of common stock were available for future issuance under the ESPP. As of June 30, 2022, there was approximately $3.6 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 $1.5 million and $1.1 million of share-based compensation expense related to the ESPP for the three months ended June 30, 2022 and 2021, respectively. Share-based compensation The following table summarizes the components of total share-based compensation expense included in the condensed consolidated financial statements for each period presented (in thousands): Three Months Ended June 30, 2022 2021 Cost of revenue $ 3,890 $ 2,652 Research and development 7,285 3,967 Sales and marketing 10,076 7,608 General and administrative 7,444 5,025 Total share-based compensation $ 28,695 $ 19,252

Net Income Per Share

Net Income Per Share	3 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share Basic net income per share is calculated by dividing the net income for the period by the weighted-average number of common shares outstanding during the period, without consideration of potentially dilutive securities. Diluted net income per share includes the dilutive effect of common share equivalents and is calculated using the weighted-average number of common shares and the common share equivalents outstanding during the reporting period. An anti-dilutive impact is an increase in net income per share or a reduction in net loss per share resulting from the conversion, exercise, or contingent issuance of certain securities. The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share data): Three Months Ended June 30, 2022 2021 Numerator: Net income $ 2,114 $ 13,294 Denominator: Weighted average shares outstanding, basic 286,203 282,661 Dilutive effect of stock-based awards 3,821 6,327 Weighted average shares outstanding, diluted 290,024 288,988 Net income per share, basic $ 0.01 $ 0.05 Net income per share, diluted $ 0.01 $ 0.05 The effect of certain common share equivalents were excluded from the computation of weighted average diluted shares outstanding for the three months ended June 30, 2022 and 2021 as inclusion would have resulted in anti-dilution. A summary of these weighted-average anti-dilutive common share equivalents is provided in the table below (in thousands): Three Months Ended June 30, 2022 2021 Stock options 889 318 Unvested RSAs and RSUs 2,274 32 Shares committed under ESPP 10 3

Geographic Information

Geographic Information	3 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Geographic Information	Geographic Information Revenue Revenues by geography are based on legal jurisdiction. Refer to Note 3, “Revenue Recognition” for a disaggregation of revenue by geographic region. Property and equipment, net The following tables present property and equipment by geographic region for the periods presented (in thousands): June 30, 2022 March 31, 2022 North America $ 16,848 $ 15,462 Europe, Middle East and Africa 26,727 28,195 Asia Pacific 2,054 1,429 Latin America 153 185 Total property and equipment, net $ 45,782 $ 45,271

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Fiscal year	The Company’s fiscal year ends on March 31. References to fiscal 2023, for example, refer to the fiscal year ended March 31, 2023.
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. There were no new recently issued accounting pronouncements that were expected to have a material impact on the condensed consolidated financial statements and related notes.
Basis of presentation	Unaudited interim consolidated financial information The accompanying interim condensed consolidated balance sheet as of June 30, 2022 and the interim condensed consolidated statements of operations, statements of comprehensive income, and statements of shareholders’ equity for the three months ended June 30, 2022 and 2021, statements of cash flows for the three months ended June 30, 2022 and 2021, and the related disclosures, are unaudited. In management’s opinion, the unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and includes all normal and recurring adjustments necessary for the fair presentation of the Company’s financial position as of June 30, 2022, its results of operations for the three months ended June 30, 2022 and 2021, and its cash flows for the three months ended June 30, 2022 and 2021 in accordance with U.S. GAAP. The results for the three months ended June 30, 2022 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, 2022 (“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, income taxes, equity-based compensation expense, 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.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table is a summary of the Company’s total revenues by geographic region (in thousands, except percentages): Three Months Ended June 30, 2022 2021 Amount % Amount % North America $ 156,749 59 % $ 112,772 53 % Europe, Middle East and Africa 70,148 26 % 67,044 32 % Asia Pacific 26,095 10 % 22,136 11 % Latin America 14,281 5 % 7,788 4 % Total revenue $ 267,273 $ 209,740

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets, Net (Tables)	3 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the carrying amount of goodwill on a consolidated basis for the three months ended June 30, 2022 consists of the following (in thousands): June 30, 2022 Balance, beginning of period $ 1,281,876 Foreign currency impact (1,365) Balance, end of period $ 1,280,511
Schedule of Intangible Assets	Other intangible assets, net excluding goodwill consists of the following (in thousands): Weighted June 30, 2022 March 31, 2022 Capitalized software 107 $ 191,682 $ 191,900 Customer relationships 120 351,555 351,555 Trademarks and tradenames 120 55,003 55,003 Total intangible assets 598,240 598,458 Less: accumulated amortization (503,232) (492,722) Total other intangible assets, net $ 95,008 $ 105,736

Long-term Debt - Schedule of Lo

Long-term Debt - Schedule of Long-Term Debt (Tables)	3 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt consists of the following (in thousands, except percentages): June 30, 2022 March 31, 2022 Amount Effective Rate Amount Effective Rate First Lien Term Loan $ 251,125 3.9 % $ 281,125 2.7 % Revolving credit facility — — Total principal 251,125 281,125 Unamortized discount and debt issuance costs (6,698) (7,207) Total debt 244,427 273,918 Less: Current portion of long-term debt — — Long-term debt $ 244,427 $ 273,918

Leases (Tables)

Leases (Tables)	3 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Schedule of Lease Expense and Supplemental Cash Flow Information	The following table presents information about leases on the condensed consolidated statements of operations (in thousands): Three Months Ended June 30, 2022 2021 Operating lease expense (1) $ 2,924 $ 2,469 Short-term lease expense $ 364 $ 195 Variable lease expense $ 269 $ 161 _________________ (1) Presented gross of sublease income. The following table presents supplemental cash flow information about the Company’s leases (in thousands): Three Months Ended June 30, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities $ 3,844 $ 3,191 Operating lease assets obtained in exchange for new operating lease liabilities (1) $ 116 $ 7,533 _________________ (1) Includes the impact of new leases as well as remeasurements and modifications of existing leases.
Schedule of Maturities of Lease Liabilities	As of June 30, 2022, remaining maturities of lease liabilities were as follows (in thousands): Fiscal Years Ending March 31, Amount 2023 $ 11,222 2024 14,404 2025 11,418 2026 8,552 2027 7,655 Thereafter 13,393 Total operating lease payments (1) 66,644 Less: imputed interest (7,560) Total operating lease liabilities $ 59,084 _________________ (1) Presented gross of sublease income.

Share-based Compensation (Table

Share-based Compensation (Tables)	3 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Summary of Activity for Stock Options	The following table summarizes activity for stock options during the period ended June 30, 2022: 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, 2022 6,968 $ 21.87 7.6 $ 176,839 Exercised (68) 18.79 Forfeited or expired (368) 24.33 Balance, June 30, 2022 6,532 $ 21.77 6.8 $ 117,968 Options vested and expected to vest at June 30, 2022 6,532 $ 21.77 6.8 $ 117,968 Options vested and exercisable at June 30, 2022 3,627 $ 20.36 6.3 $ 69,870
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 June 30, 2022: Number of Weighted Average Grant Date Fair Value Number of RSUs Weighted Average (in thousands) (per share) (in thousands) (per share) Balance, March 31, 2022 202 $ 16.00 5,180 $ 42.43 Granted — — 4,714 40.60 Vested (116) 16.00 (886) 39.87 Forfeited (14) 16.00 (379) 42.48 Balance, June 30, 2022 72 $ 16.00 8,629 $ 41.61
Schedule of Share-based Compensation Expense	The following table summarizes the components of total share-based compensation expense included in the condensed consolidated financial statements for each period presented (in thousands): Three Months Ended June 30, 2022 2021 Cost of revenue $ 3,890 $ 2,652 Research and development 7,285 3,967 Sales and marketing 10,076 7,608 General and administrative 7,444 5,025 Total share-based compensation $ 28,695 $ 19,252

Net Income Per Share (Tables)

Net Income Per Share (Tables)	3 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Summary of Basic and Diluted Net Loss Per Share	The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share data): Three Months Ended June 30, 2022 2021 Numerator: Net income $ 2,114 $ 13,294 Denominator: Weighted average shares outstanding, basic 286,203 282,661 Dilutive effect of stock-based awards 3,821 6,327 Weighted average shares outstanding, diluted 290,024 288,988 Net income per share, basic $ 0.01 $ 0.05 Net income per share, diluted $ 0.01 $ 0.05
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	A summary of these weighted-average anti-dilutive common share equivalents is provided in the table below (in thousands): Three Months Ended June 30, 2022 2021 Stock options 889 318 Unvested RSAs and RSUs 2,274 32 Shares committed under ESPP 10 3

Geographic Information (Tables)

Geographic Information (Tables)	3 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Summary of Property and Equipment by Geographical Region	The following tables present property and equipment by geographic region for the periods presented (in thousands): June 30, 2022 March 31, 2022 North America $ 16,848 $ 15,462 Europe, Middle East and Africa 26,727 28,195 Asia Pacific 2,054 1,429 Latin America 153 185 Total property and equipment, net $ 45,782 $ 45,271

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Amount	$ 267,273	$ 209,740
North America
Disaggregation of Revenue [Line Items]
Amount	$ 156,749	$ 112,772
North America | Revenue Benchmark | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk percentage	59%	53%
Europe, Middle East and Africa
Disaggregation of Revenue [Line Items]
Amount	$ 70,148	$ 67,044
Europe, Middle East and Africa | Revenue Benchmark | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk percentage	26%	32%
Asia Pacific
Disaggregation of Revenue [Line Items]
Amount	$ 26,095	$ 22,136
Asia Pacific | Revenue Benchmark | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk percentage	10%	11%
Latin America
Disaggregation of Revenue [Line Items]
Amount	$ 14,281	$ 7,788
Latin America | Revenue Benchmark | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk percentage	5%	4%

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue and Deferred Revenue (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Total revenue	$ 267,273	$ 209,740
Revenue recognized	258,500	185,100
Revenue Benchmark | Geographic Concentration Risk | UNITED STATES
Disaggregation of Revenue [Line Items]
Total revenue	$ 147,500	$ 104,500
Concentration risk percentage	55%	50%

Revenue Recognition - Remaining

Revenue Recognition - Remaining Performance Obligations (Narrative) (Details) $ in Millions	Jun. 30, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 1,529.6
Billed consideration
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	634.3
Unbilled consideration
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 895.3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	57%
Remaining performance obligation, expected timing of satisfaction, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	43%
Remaining performance obligation, expected timing of satisfaction, period

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets, Net - Schedule of Goodwill (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2022 USD ($)
Goodwill [Roll Forward]
Balance, beginning of period	$ 1,281,876
Foreign currency impact	(1,365)
Balance, end of period	$ 1,280,511

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets, Net - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Mar. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 598,240	$ 598,458
Less: accumulated amortization	(503,232)	(492,722)
Total other intangible assets, net	$ 95,008	105,736
Capitalized software
Finite-Lived Intangible Assets [Line Items]
Weighted Average  Useful Life (in months)	107 years
Total intangible assets	$ 191,682	191,900
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average  Useful Life (in months)	120 months
Total intangible assets	$ 351,555	351,555
Trademarks and tradenames
Finite-Lived Intangible Assets [Line Items]
Weighted Average  Useful Life (in months)	120 months
Total intangible assets	$ 55,003	$ 55,003

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets, Net - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of other intangibles	$ 10,571	$ 11,512

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Effective tax rate	86%	32%

Long-term Debt - Schedule of _2

Long-term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022
Debt Instrument [Line Items]
Total principal	$ 251,125	$ 281,125
Unamortized discount and debt issuance costs	(6,698)	(7,207)
Total debt	244,427	273,918
Less: Current portion of long-term debt	0	0
Long-term debt	244,427	273,918
First Lien Term Loan | Secured Debt
Debt Instrument [Line Items]
Total principal	$ 251,125	$ 281,125
Effective Rate	3.90%	2.70%
Revolving credit facility | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Total principal	$ 0	$ 0

Long-term Debt - Narrative (Det

Long-term Debt - Narrative (Details) - USD ($)	3 Months Ended
	Jun. 30, 2022	Mar. 31, 2022
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	$ 44,600,000	$ 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	$ 15,400,000	$ 15,600,000

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	3 Months Ended
	Jun. 30, 2022 USD ($)
Lessee, Lease, Description [Line Items]
Weighted average remaining lease term	5 years 9 months 18 days
Weighted average discount rate	5.20%
Sublease Income	$ 0.6
Operating lease that has not yet commenced	$ 35.1
Minimum
Lessee, Lease, Description [Line Items]
Operating lease that has not yet commenced, term	3 years
Maximum
Lessee, Lease, Description [Line Items]
Operating lease that has not yet commenced, term	10 years

Leases - Schedule of Lease Expe

Leases - Schedule of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Operating lease expense	$ 2,924	$ 2,469
Short-term lease expense	364	195
Variable lease expense	$ 269	$ 161

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 3,844	$ 3,191
Operating lease assets obtained in exchange for new operating lease liabilities	$ 116	$ 7,533

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Lease Liabilities (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Leases [Abstract]
2023	$ 11,222
2024	14,404
2025	11,418
2026	8,552
2027	7,655
Thereafter	13,393
Total operating lease payments	66,644
Less: imputed interest	(7,560)
Total operating lease liabilities	$ 59,084

Share-based Compensation - Narr

Share-based Compensation - Narrative (Details) $ in Thousands	1 Months Ended	3 Months Ended
	Jul. 31, 2019 shares	Jun. 30, 2022 USD ($) installment shares	Jun. 30, 2021 USD ($)	Mar. 31, 2022 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost		$ 24,000
Stock compensation expense		$ 28,695	$ 19,252
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period of recognition		1 year 6 months
Stock compensation expense		$ 5,200	4,700
Unvested RSAs and RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense		$ 22,000	13,500
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period of recognition		7 months 6 days
Outstanding shares (in shares) | shares		72,000		202,000
Total unrecognized compensation cost		$ 1,000
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period of recognition		2 years 7 months 6 days
Outstanding shares (in shares) | shares		8,629,000		5,180,000
Total unrecognized compensation cost		$ 322,900
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		7,500,000
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		33%
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		67%
Award vesting period		2 years
Number of equal installments | installment		8
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%
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%
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	45,109,077
Annual increase in shares reserved for future issuance based off of shares outstanding	4%
2019 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense		$ 1,500	$ 1,100
Total unrecognized compensation cost		$ 3,600
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		13,782,205
Issuance of common stock related to employee stock purchase plan (in shares) | shares		265,681

Share-based Compensation - Sche

Share-based Compensation - Schedule of Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2022	Mar. 31, 2022
Number of Options
Beginning balance (in shares)	6,968
Exercised (in shares)	(68)
Forfeited or expired (in shares)	(368)
Ending balance (in shares)	6,532	6,968
Options vested and expected to vest (in shares)	6,532
Options vested and exercisable (in shares)	3,627
Weighted Average Exercise Price
Beginning balance (in dollars per share)	$ 21.87
Exercised (in dollars per share)	18.79
Forfeited or expired (in dollars per share)	24.33
Ending valance (in dollars per share)	21.77	$ 21.87
Weighted average exercise price, options vested and expected to vest (in dollars per share)	21.77
Weighted average exercise price, options vested and exercisable (in dollars per share)	$ 20.36
Weighted average remaining contractual term	6 years 9 months 18 days	7 years 7 months 6 days
Weighted average remaining contractual term, options vested and expected to vest	6 years 9 months 18 days
Weighted average remaining contractual term, options vested and exercisable	6 years 3 months 18 days
Aggregate intrinsic value	$ 117,968	$ 176,839
Aggregate intrinsic value, options vested and expected to vest	117,968
Aggregate intrinsic value, options vested and exercisable	$ 69,870
Restricted Stock
Number of Restricted Shares
Beginning balance (in shares)	202
Granted (in shares)	0
Vested (in shares)	(116)
Forfeited or expired (in shares)	(14)
Ending balance (in shares)	72	202
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 16
Granted (in dollars per share)	0
Vested (in dollars per share)	16
Forfeited (in dollars per share)	16
Ending balance (in dollars per share)	$ 16	$ 16
Restricted Stock Units (RSUs)
Number of Restricted Shares
Beginning balance (in shares)	5,180
Granted (in shares)	4,714
Vested (in shares)	(886)
Forfeited or expired (in shares)	(379)
Ending balance (in shares)	8,629	5,180
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 42.43
Granted (in dollars per share)	40.60
Vested (in dollars per share)	39.87
Forfeited (in dollars per share)	42.48
Ending balance (in dollars per share)	$ 41.61	$ 42.43
Restricted Stock Units (RSUs) | Share-based Payment Arrangement, Tranche Two
Number of Restricted Shares
Granted (in shares)	1,100

Share-based Compensation - Sc_2

Share-based Compensation - Schedule of Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 28,695	$ 19,252
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	3,890	2,652
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	7,285	3,967
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	10,076	7,608
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 7,444	$ 5,025

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
	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Net income	$ 2,114	$ 13,294
Denominator:
Weighted average shares outstanding, basic (in shares)	286,203	282,661
Dilutive effect of stock-based awards (in shares)	3,821	6,327
Weighted average shares outstanding, diluted (in shares)	290,024	288,988
Net income per share, basic (in dollars per share)	$ 0.01	$ 0.05
Net income per share, diluted (in dollars per share)	$ 0.01	$ 0.05

Net Income Per Share - Antidilu

Net Income Per Share - Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common share equivalents (in shares)	889	318
Unvested RSAs and RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common share equivalents (in shares)	2,274	32
Shares committed under ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common share equivalents (in shares)	10	3

Geographic Information - Summar

Geographic Information - Summary of Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	$ 45,782	$ 45,271
North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	16,848	15,462
Europe, Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	26,727	28,195
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	2,054	1,429
Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	$ 153	$ 185