COVER PAGE
COVER PAGE - shares | 9 Months Ended | |
Dec. 31, 2022 | Feb. 02, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Dec. 31, 2022 | |
Document Transition Report | false | |
Entity File Number | 001-38669 | |
Entity Registrant Name | LiveRamp Holdings, Inc. | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 83-1269307 | |
Entity Address, Address Line One | 225 Bush Street, Seventeenth Floor | |
Entity Address, City or Town | San Francisco | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 94104 | |
City Area Code | 888 | |
Local Phone Number | 987-6764 | |
Title of 12(b) Security | Common Stock, $.10 Par Value | |
Trading Symbol | RAMP | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 64,714,947 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --03-31 | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q3 | |
Entity Central Index Key | 0000733269 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2022 | Mar. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 453,516 | $ 600,162 |
Trade accounts receivable, net | 173,409 | 148,343 |
Refundable income taxes, net | 27,097 | 30,354 |
Other current assets | 42,172 | 36,975 |
Total current assets | 696,194 | 815,834 |
Property and equipment, net of accumulated depreciation and amortization | 8,809 | 11,531 |
Intangible assets, net | 13,203 | 26,718 |
Goodwill | 363,129 | 363,845 |
Deferred commissions, net | 32,717 | 30,594 |
Other assets, net | 52,431 | 85,214 |
Total assets | 1,166,483 | 1,333,736 |
Current liabilities: | ||
Trade accounts payable | 83,938 | 83,197 |
Accrued payroll and related expenses | 33,250 | 39,188 |
Other accrued expenses | 42,394 | 46,067 |
Deferred revenue | 16,195 | 16,114 |
Total current liabilities | 175,777 | 184,566 |
Other liabilities | 79,097 | 86,110 |
Commitments and contingencies (Note 14) | ||
Stockholders' equity: | ||
Preferred stock | 0 | 0 |
Common stock | 15,205 | 14,984 |
Additional paid-in capital | 1,810,383 | 1,721,118 |
Retained earnings | 1,333,655 | 1,420,993 |
Accumulated other comprehensive income | 4,182 | 5,730 |
Treasury stock, at cost | (2,251,816) | (2,099,765) |
Total stockholders' equity | 911,609 | 1,063,060 |
Total liabilities and stockholders' equity | $ 1,166,483 | $ 1,333,736 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Income Statement [Abstract] | ||||
Revenues | $ 158,615 | $ 140,604 | $ 447,957 | $ 386,932 |
Cost of revenue | 43,287 | 38,557 | 126,612 | 107,951 |
Gross profit | 115,328 | 102,047 | 321,345 | 278,981 |
Operating expenses: | ||||
Research and development | 43,175 | 41,870 | 136,975 | 112,434 |
Sales and marketing | 47,702 | 46,324 | 144,931 | 127,812 |
General and administrative | 36,657 | 27,639 | 92,519 | 75,008 |
Gains, losses and other items, net | 11,743 | 0 | 25,593 | 1,296 |
Total operating expenses | 139,277 | 115,833 | 400,018 | 316,550 |
Loss from operations | (23,949) | (13,786) | (78,673) | (37,569) |
Total other income (expense), net | (736) | (241) | 2,211 | 30,510 |
Loss from continuing operations before income taxes | (24,685) | (14,027) | (76,462) | (7,059) |
Income tax expense (benefit) | 5,835 | 1,348 | 11,712 | (2,618) |
Net loss from continuing operations | (30,520) | (15,375) | (88,174) | (4,441) |
Earnings from discontinued operations, net of tax | 836 | 0 | 836 | 0 |
Net loss | $ (29,684) | $ (15,375) | $ (87,338) | $ (4,441) |
Basic earnings (loss) per share: | ||||
Continuing operations (in USD per share) | $ (0.47) | $ (0.23) | $ (1.32) | $ (0.07) |
Discontinued operations (in USD per share) | 0.01 | 0 | 0.01 | 0 |
Basic earnings (loss) per share (in USD per share) | (0.46) | (0.23) | (1.31) | (0.07) |
Diluted earnings (loss) per share: | ||||
Continuing operations (in USD per share) | (0.47) | (0.23) | (1.32) | (0.07) |
Discontinued operations (in USD per share) | 0.01 | 0 | 0.01 | 0 |
Diluted earnings (loss) per share (in USD per share) | $ (0.46) | $ (0.23) | $ (1.31) | $ (0.07) |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Statement of Comprehensive Income [Abstract] | ||||
Net loss | $ (29,684) | $ (15,375) | $ (87,338) | $ (4,441) |
Other comprehensive income (loss): | ||||
Change in foreign currency translation adjustment | 2,257 | (86) | (1,548) | (1,632) |
Comprehensive loss | $ (27,427) | $ (15,461) | $ (88,886) | $ (6,073) |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands | Total | Common Stock | Additional paid-in Capital | Retained earnings | Accumulated other comprehensive income (loss) | Treasury Stock |
Balance, beginning of the period (in shares) at Mar. 31, 2021 | 147,814,965 | |||||
Balance, beginning of the period at Mar. 31, 2021 | $ 1,080,683 | $ 14,781 | $ 1,630,072 | $ 1,454,826 | $ 7,522 | $ (2,026,518) |
Treasury stock, beginning balance (in shares) at Mar. 31, 2021 | (79,585,710) | |||||
Increase (Decrease) in Stockholders' Equity | ||||||
Employee stock awards, benefit plans and other issuances (in shares) | 237,951 | (280,521) | ||||
Employee stock awards, benefit plans and other issuances | (8,033) | $ 24 | 6,159 | $ (14,216) | ||
Non-cash stock-based compensation (in shares) | 44,729 | |||||
Non-cash stock-based compensation | 43,238 | $ 5 | 43,233 | |||
Restricted stock units vested (in shares) | 895,230 | |||||
Restricted stock units vested | 0 | $ 89 | (89) | |||
Liability-classified restricted stock units vested (in shares) | 218,414 | |||||
Liability-classified restricted stock units vested | 9,823 | $ 22 | 9,801 | |||
Acquisition-related restricted stock award (in shares) | 40,600 | |||||
Acquisition-related restricted stock award | 0 | $ 4 | (4) | |||
Acquisition of treasury stock (in shares) | (1,111,860) | |||||
Acquisition of treasury stock | (49,224) | $ (49,224) | ||||
Other comprehensive income (loss): | ||||||
Foreign currency translation | (1,632) | (1,632) | ||||
Net loss | (4,441) | (4,441) | ||||
Balance, end of the period (in shares) at Dec. 31, 2021 | 149,251,889 | |||||
Balance, end of the period at Dec. 31, 2021 | 1,070,414 | $ 14,925 | 1,689,172 | 1,450,385 | 5,890 | $ (2,089,958) |
Treasury stock, ending balance (in shares) at Dec. 31, 2021 | (80,978,091) | |||||
Balance, beginning of the period (in shares) at Sep. 30, 2021 | 148,870,184 | |||||
Balance, beginning of the period at Sep. 30, 2021 | 1,072,947 | $ 14,887 | 1,669,461 | 1,465,760 | 5,976 | $ (2,083,137) |
Treasury stock, beginning balance (in shares) at Sep. 30, 2021 | (80,831,781) | |||||
Increase (Decrease) in Stockholders' Equity | ||||||
Employee stock awards, benefit plans and other issuances (in shares) | 71,721 | (31,264) | ||||
Employee stock awards, benefit plans and other issuances | 231 | $ 7 | 1,898 | $ (1,674) | ||
Non-cash stock-based compensation (in shares) | 6,815 | |||||
Non-cash stock-based compensation | 17,844 | $ 1 | 17,843 | |||
Restricted stock units vested (in shares) | 303,169 | |||||
Restricted stock units vested | 0 | $ 30 | (30) | |||
Acquisition of treasury stock (in shares) | (115,046) | |||||
Acquisition of treasury stock | (5,147) | $ (5,147) | ||||
Other comprehensive income (loss): | ||||||
Foreign currency translation | (86) | (86) | ||||
Net loss | (15,375) | (15,375) | ||||
Balance, end of the period (in shares) at Dec. 31, 2021 | 149,251,889 | |||||
Balance, end of the period at Dec. 31, 2021 | 1,070,414 | $ 14,925 | 1,689,172 | 1,450,385 | 5,890 | $ (2,089,958) |
Treasury stock, ending balance (in shares) at Dec. 31, 2021 | (80,978,091) | |||||
Balance, beginning of the period (in shares) at Mar. 31, 2022 | 149,840,925 | |||||
Balance, beginning of the period at Mar. 31, 2022 | 1,063,060 | $ 14,984 | 1,721,118 | 1,420,993 | 5,730 | $ (2,099,765) |
Treasury stock, beginning balance (in shares) at Mar. 31, 2022 | (81,205,596) | |||||
Increase (Decrease) in Stockholders' Equity | ||||||
Employee stock awards, benefit plans and other issuances (in shares) | 396,093 | (92,417) | ||||
Employee stock awards, benefit plans and other issuances | 4,201 | $ 39 | 6,216 | $ (2,054) | ||
Non-cash stock-based compensation (in shares) | 36,965 | |||||
Non-cash stock-based compensation | 73,905 | $ 4 | 73,901 | |||
Restricted stock units vested (in shares) | 1,421,729 | |||||
Restricted stock units vested | 0 | $ 142 | (142) | |||
Liability-classified restricted stock units vested (in shares) | 356,664 | |||||
Liability-classified restricted stock units vested | 9,326 | $ 36 | 9,290 | |||
Acquisition of treasury stock (in shares) | (6,066,230) | |||||
Acquisition of treasury stock | (149,997) | $ (149,997) | ||||
Other comprehensive income (loss): | ||||||
Foreign currency translation | (1,548) | (1,548) | ||||
Net loss | (87,338) | (87,338) | ||||
Balance, end of the period (in shares) at Dec. 31, 2022 | 152,052,376 | |||||
Balance, end of the period at Dec. 31, 2022 | 911,609 | $ 15,205 | 1,810,383 | 1,333,655 | 4,182 | $ (2,251,816) |
Treasury stock, ending balance (in shares) at Dec. 31, 2022 | (87,364,243) | |||||
Balance, beginning of the period (in shares) at Sep. 30, 2022 | 151,477,616 | |||||
Balance, beginning of the period at Sep. 30, 2022 | 960,069 | $ 15,148 | 1,780,803 | 1,363,339 | 1,925 | $ (2,201,146) |
Treasury stock, beginning balance (in shares) at Sep. 30, 2022 | (85,057,331) | |||||
Increase (Decrease) in Stockholders' Equity | ||||||
Employee stock awards, benefit plans and other issuances (in shares) | 114,240 | (38,442) | ||||
Employee stock awards, benefit plans and other issuances | 900 | $ 11 | 1,653 | $ (764) | ||
Non-cash stock-based compensation (in shares) | 11,941 | |||||
Non-cash stock-based compensation | 27,973 | $ 1 | 27,972 | |||
Restricted stock units vested (in shares) | 448,579 | |||||
Restricted stock units vested | 0 | $ 45 | (45) | |||
Acquisition of treasury stock (in shares) | (2,268,470) | |||||
Acquisition of treasury stock | (49,906) | $ (49,906) | ||||
Other comprehensive income (loss): | ||||||
Foreign currency translation | 2,257 | 2,257 | ||||
Net loss | (29,684) | (29,684) | ||||
Balance, end of the period (in shares) at Dec. 31, 2022 | 152,052,376 | |||||
Balance, end of the period at Dec. 31, 2022 | $ 911,609 | $ 15,205 | $ 1,810,383 | $ 1,333,655 | $ 4,182 | $ (2,251,816) |
Treasury stock, ending balance (in shares) at Dec. 31, 2022 | (87,364,243) |
CONDENSED CONSOLIDATED STATEM_4
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 9 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Cash flows from operating activities: | ||
Net loss | $ (87,338) | $ (4,441) |
Earnings from discontinued operations | (836) | 0 |
Non-cash operating activities: | ||
Depreciation and amortization | 16,561 | 18,231 |
Loss on disposal or impairment of assets | 4,121 | 142 |
Gain on sale of strategic investments | (194) | 0 |
Lease impairments | 18,165 | 0 |
Gain on distribution from retained profits interest | 0 | (30,235) |
Provision for doubtful accounts | 1,728 | 3,127 |
Deferred income taxes | 204 | (456) |
Non-cash stock compensation expense | 81,142 | 61,475 |
Changes in operating assets and liabilities: | ||
Accounts receivable, net | (27,171) | (45,876) |
Deferred commissions | (2,123) | (6,864) |
Other assets | 1,588 | 22,077 |
Accounts payable and other liabilities | (9,309) | (2,471) |
Income taxes, net | 6,967 | 998 |
Deferred revenue | 271 | 3,426 |
Net cash provided by operating activities | 3,776 | 19,133 |
Cash flows from investing activities: | ||
Capital expenditures | (4,593) | (2,619) |
Cash paid in acquisitions, net of cash received | 0 | (10,376) |
Distribution from retained profits interest | 0 | 31,184 |
Purchases of investments | (3,000) | 0 |
Proceeds from investments | 3,000 | 0 |
Purchases of strategic investments | (500) | 0 |
Proceeds from sale of strategic investment | 400 | 0 |
Net cash provided by (used in) investing activities | (4,693) | 18,189 |
Cash flows from financing activities: | ||
Proceeds related to the issuance of common stock under stock and employee benefit plans | 6,255 | 6,183 |
Shares repurchased for tax withholdings upon vesting of stock-based awards | (2,054) | (14,216) |
Acquisition of treasury stock | (149,997) | (49,224) |
Net cash used in financing activities | (145,796) | (57,257) |
Net cash used in continuing operations | (146,713) | (19,935) |
From operating activities | 836 | 0 |
Net cash provided by discontinued operations | 836 | 0 |
Effect of exchange rate changes on cash | (769) | (62) |
Net change in cash and cash equivalents | (146,646) | (19,997) |
Cash and cash equivalents at beginning of period | 600,162 | 581,687 |
Cash and cash equivalents at end of period | 453,516 | 561,690 |
Supplemental cash flow information: | ||
Cash paid (received) for income taxes, net | 3,418 | (2,815) |
Operating lease assets obtained in exchange for operating lease liabilities | 0 | 52,902 |
Purchases of property, plant and equipment remaining unpaid at period end | $ 77 | $ 353 |
BASIS OF PRESENTATION AND SUMMA
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: These condensed consolidated financial statements have been prepared by LiveRamp Holdings, Inc. ("LiveRamp", "we", "us" or the "Company"), without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion of the Company's management, all adjustments necessary for a fair presentation of the results for the periods included have been made, and the disclosures are adequate to make the information presented not misleading. All such adjustments are of a normal recurring nature. Certain note information has been omitted because it has not changed significantly from that reflected in Notes 1 through 18 of the Notes to Consolidated Financial Statements filed as part of Item 8 of the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2022 (“2022 Annual Report”), as filed with the SEC on May 24, 2022. This quarterly report and the accompanying condensed consolidated financial statements should be read in connection with the 2022 Annual Report. The financial information contained in this quarterly report is not necessarily indicative of the results to be expected for any other period or for the full fiscal year ending March 31, 2023. Management of the Company has made a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities to prepare these condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”). Actual results could differ from those estimates. Certain of the accounting policies used in the preparation of these condensed consolidated financial statements are complex and require management to make judgments and/or significant estimates regarding amounts reported or disclosed in these financial statements. Additionally, the application of certain of these accounting policies is governed by complex accounting principles and their interpretation. A discussion of the Company’s significant accounting principles and their application is included in Note 1 of the Notes to Consolidated Financial Statements and in Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, of the Company’s 2022 Annual Report. Accounting Pronouncements Adopted During the Current Year Standard Description Date of Adoption Effect on Financial Statements or Other Significant Matters Accounting Standard Update (“ASU”) 2021-08 Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers ASU 2021-08 requires companies to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with the revenue recognition guidance as if the acquirer had entered into the original contract at the same time, and on the same terms, as the acquiree. Generally, this will result in the acquirer recognizing contract assets and liabilities at the same amounts recorded by the acquiree as of the acquisition date. Under the previous standard, an acquirer generally recognizes such items at fair value on the acquisition date. April 1, 2022 The adoption of this standard did not have a material impact on our condensed consolidated financial statements and related disclosures. Recent Accounting Pronouncements Not Yet Adopted Standard Description Date of Adoption Effect on Financial Statements or Other Significant Matters There are no material accounting pronouncements applicable to the Company not yet adopted |
LOSS PER SHARE AND STOCKHOLDERS
LOSS PER SHARE AND STOCKHOLDERS’ EQUITY | 9 Months Ended |
Dec. 31, 2022 | |
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY | |
LOSS PER SHARE AND STOCKHOLDERS’ EQUITY | LOSS PER SHARE AND STOCKHOLDERS’ EQUITY: Loss Per Share A reconciliation of the numerator and denominator of basic and diluted loss per share is shown below (in thousands, except per share amounts): For the three months ended For the nine months ended December 31, December 31, 2022 2021 2022 2021 Basic earnings (loss) per share: Net loss from continuing operations $ (30,520) $ (15,375) $ (88,174) $ (4,441) Earnings from discontinued operations, net of tax 836 — 836 — Net loss $ (29,684) $ (15,375) $ (87,338) $ (4,441) Basic weighted-average shares outstanding 64,784 68,190 66,761 68,187 Continuing operations $ (0.47) $ (0.23) $ (1.32) $ (0.07) Discontinued operations 0.01 — 0.01 — Basic loss per share $ (0.46) $ (0.23) $ (1.31) $ (0.07) Diluted earnings (loss) per share: Basic weighted-average shares outstanding 64,784 68,190 66,761 68,187 Dilutive effect of common stock options and restricted stock as computed under the treasury stock method (1) — — — — Diluted weighted-average shares outstanding 64,784 68,190 66,761 68,187 Continuing operations $ (0.47) $ (0.23) $ (1.32) $ (0.07) Discontinued operations 0.01 — 0.01 — Diluted loss per share $ (0.46) $ (0.23) $ (1.31) $ (0.07) Loss per share totals may not sum due to rounding. (1) The number of common stock options and restricted stock units as computed under the treasury stock method that would have otherwise been dilutive but are excluded from the table above because their effect would have been anti-dilutive due to the net loss position of the Company was 0.5 million and 1.7 million in the three months ended December 31, 2022 and 2021, respectively, and 0.6 million and 1.4 million in the nine months ended December 31, 2022 and 2021, respectively. Restricted stock units that were outstanding during the periods presented but were not included in the computation of diluted earnings (loss) per share because their effect would have been anti-dilutive (other than due to the net loss position of the Company) are shown below (shares in thousands): For the three months ended For the nine months ended December 31, December 31, 2022 2021 2022 2021 Number of shares underlying restricted stock units 6,215 484 2,980 787 Stockholders’ Equity On December 20, 2022, the Company's Board of Directors approved an amendment to the existing common stock repurchase program, which was initially adopted in 2011. The amendment authorized an additional $100.0 million in share repurchases, increasing the total amount authorized for repurchase under the common stock repurchase program to $1.1 billion. In addition, it extended the common stock repurchase program duration through December 31, 2024. During the nine months ended December 31, 2022, the Company repurchased 6.1 million shares of its common stock for $150.0 million under the modified common stock repurchase program. Through December 31, 2022, the Company had repurchased a total of 35.6 million shares of its stock for $882.2 million under the program, leaving remaining capacity of $217.8 million. Accumulated other comprehensive income balances of $4.2 million and $5.7 million at December 31, 2022 and March 31, 2022, respectively, reflect accumulated foreign currency translation adjustments. |
REVENUE FROM CONTRACTS WITH CUS
REVENUE FROM CONTRACTS WITH CUSTOMERS | 9 Months Ended |
Dec. 31, 2022 | |
Revenue from Contract with Customer [Abstract] | |
REVENUE FROM CONTRACTS WITH CUSTOMERS | REVENUE FROM CONTRACTS WITH CUSTOMERS: Disaggregation of Revenue In the following table, revenue is disaggregated by primary geographical market and major service offerings (dollars in thousands): For the nine months ended December 31, Primary Geographical Markets 2022 2021 United States $ 417,385 $ 363,446 Europe 24,172 18,507 Asia-Pacific ("APAC") 6,400 4,979 $ 447,957 $ 386,932 Major Offerings/Services Subscription $ 361,862 $ 313,046 Marketplace and Other 86,095 73,886 $ 447,957 $ 386,932 Transaction Price Allocated to the Remaining Performance Obligations We have performance obligations associated with fixed commitments in customer contracts for future services that have not yet been recognized in our condensed consolidated financial statements. The amount of fixed revenue not yet recognized was $405.7 million as of December 31, 2022, of which $324.4 million will be recognized over the next twelve months. The Company expects to recognize revenue on substantially all of these remaining performance obligations by March 31, 2026. |
LEASES
LEASES | 9 Months Ended |
Dec. 31, 2022 | |
Leases [Abstract] | |
LEASES | LEASES: Right-of-use assets and lease liabilities balances consist of the following (dollars in thousands): December 31, 2022 March 31, 2022 Right-of-use assets included in other assets, net $ 34,953 $ 59,459 Short-term lease liabilities included in other accrued expenses $ 10,467 $ 8,984 Long-term lease liabilities included in other liabilities $ 39,097 $ 52,241 Supplemental balance sheet information: Weighted average remaining lease term 5.8 years 6.4 years Weighted average discount rate 3.5 % 3.6 % The Company leases its office facilities under non-cancellable operating leases that expire at various dates through fiscal 2030. Certain leases contain provisions for property-related costs that are variable in nature for which the Company is responsible, including common area maintenance and other property operating services. These costs are calculated based on a variety of factors including property values, tax and utility rates, property service fees, and other factors. Operating lease costs were $9.0 million and $8.1 million for the nine months ended December 31, 2022 and 2021, respectively. During the nine months ended December 31, 2022, the Company recorded $15.5 million of impairment charges that are included in gains, losses and other items, net in the condensed consolidated statements of operations related to the exit from certain leased office facilities. Please refer to Note 13, Restructuring, Impairment and Other Charges for further details. Future minimum payments under all operating leases (including operating leases with a duration of one year or less) as of December 31, 2022 are as follows (dollars in thousands): Amount Fiscal 2023 $ 2,809 Fiscal 2024 9,987 Fiscal 2025 8,514 Fiscal 2026 9,027 Fiscal 2027 8,017 Thereafter 16,584 Total undiscounted lease commitments 54,938 Less: Interest and short-term leases 5,374 Total discounted operating lease liabilities $ 49,564 |
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION | 9 Months Ended |
Dec. 31, 2022 | |
Equity [Abstract] | |
STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION: Stock-based Compensation Plans The Company has stock option and equity compensation plans for which a total of 43.6 million shares of the Company’s common stock have been reserved for issuance since the inception of the plans. At December 31, 2022, there were a total of 4.1 million shares available for future grants under the plans. During the quarter ended June 30, 2022, the Board voted to amend the Amended and Restated 2005 Equity Compensation Plan (the "2005 Plan") to increase the number of shares available under the plan by 4.5 million shares. The amendment received shareholder approval at the August 9, 2022 annual shareholders' meeting (the "2022 Annual Meeting") bringing the plan shares from 37.9 million shares at June 30, 2022 to 42.4 million shares beginning in the quarter ended September 30, 2022. This brings the total number of shares reserved for issuance since inception of all plans from 39.1 million shares at June 30, 2022 to 43.6 million shares beginning in the quarter ended September 30, 2022. During the quarter ended December 31, 2022, the Board voted to further amend the Company's 2005 Plan. The 2005 Plan was amended to provide that, in the event of a participant’s retirement on or after age 65 with at least five years of service, awards held by the participant at retirement will continue to vest in accordance with their terms. This amendment to the 2005 Plan impacted current quarter stock-based compensation expense by accelerating $7.0 million of expense recognition into the current reporting period that would have otherwise been recognized over future reporting periods through the quarter ending December 31, 2025. Stock-based Compensation Expense The Company's stock-based compensation activity for the nine months ended December 31, 2022 and 2021, by award type, was (dollars in thousands): For the nine months ended December 31, 2022 2021 Stock options $ 776 $ 1,541 Restricted stock units 70,612 37,810 Diablo restricted stock awards — 660 Data Plus Math ("DPM") acquisition consideration holdback 2,031 6,092 Pacific Data Partners assumed performance plan — 6,826 Acuity performance plan 673 1,558 DataFleets acquisition consideration holdback 4,532 4,529 Employee stock purchase plan 1,527 1,282 Directors stock-based compensation 991 1,177 Total non-cash stock-based compensation included in the condensed consolidated statements of operations 81,142 61,475 Less expense related to liability-based equity awards (7,237) (18,237) Total non-cash stock-based compensation included in the condensed consolidated statements of equity $ 73,905 $ 43,238 The effect of stock-based compensation expense on income, by financial statement line item, was (dollars in thousands): For the nine months ended December 31, 2022 2021 Cost of revenue $ 3,664 $ 2,906 Research and development 34,670 21,796 Sales and marketing 17,871 20,871 General and administrative 24,937 15,902 Total non-cash stock-based compensation included in the condensed consolidated statements of operations $ 81,142 $ 61,475 The following table provides the expected future expense for all of the Company's outstanding equity awards at December 31, 2022, by award type. The amount for 2023 represents the remaining three months ending March 31, 2023. All other periods represent fiscal years ending March 31 (dollars in thousands). For the years ending March 31, 2023 2024 2025 2026 Total Stock options $ 203 $ 668 $ 157 $ — $ 1,028 Restricted stock units 20,108 73,695 61,170 15,526 170,499 Acuity performance plan 142 165 — — 307 DataFleets acquisition consideration holdback 1,078 2,266 — — 3,344 Employee stock purchase plan 554 375 — — 929 Expected future expense $ 22,085 $ 77,169 $ 61,327 $ 15,526 $ 176,107 Stock Options Activity Stock option activity for the nine months ended December 31, 2022 was: Weighted-average Weighted-average remaining Aggregate Number of exercise price contractual term Intrinsic value shares per share (in years) (in thousands) Outstanding at March 31, 2022 730,004 $ 16.28 Exercised (198,563) $ 11.16 $ 3,634 Forfeited or canceled (2,690) $ 3.39 Outstanding at December 31, 2022 528,751 $ 18.26 1.9 $ 2,736 Exercisable at December 31, 2022 513,991 $ 18.76 1.8 $ 2,403 The aggregate intrinsic value at period end represents the total pre-tax intrinsic value (the difference between LiveRamp’s closing stock price on the last trading day of the period and the exercise price for each in-the-money option) that would have been received by the option holders had they exercised their options on December 31, 2022. This amount changes based upon changes in the fair market value of LiveRamp’s common stock. A summary of stock options outstanding and exercisable as of December 31, 2022 was: Options outstanding Options exercisable Range of Weighted-average Weighted-average Weighted-average exercise price Options remaining exercise price Options exercise price per share outstanding contractual life per share exercisable per share $ — — $ 9.99 44,813 6.1 years $ 0.97 30,053 $ 1.02 $ 10.00 — $ 19.99 182,603 2.4 years $ 17.49 182,603 $ 17.49 $ 20.00 — $ 24.99 301,335 1.0 years $ 21.31 301,335 $ 21.31 528,751 1.9 years $ 18.26 513,991 $ 18.76 Diablo Restricted Stock Awards During the nine months ended December 31, 2022, in connection with the acquisition of Diablo.ai, Inc. ("Diablo"), the Company replaced the unvested outstanding restricted stock shares held by a Diablo employee immediately prior to the acquisition with restricted shares of LiveRamp common stock having substantially the same terms and conditions as were applicable under the original restricted stock agreement. Changes in the Company's restricted stock awards for the nine months ended December 31, 2022 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Unvested restricted stock awards at March 31, 2022 24,766 $ 47.29 2.17 Vested (8,120) $ 47.29 Unvested restricted stock awards at December 31, 2022 16,646 $ 47.29 1.42 The total fair value of restricted stock awards vested during the nine months ended December 31, 2022 was $0.2 million and is measured as the quoted market price of the Company's common stock on the vesting date for the number of shares vested. Restricted Stock Unit Activity Time-vesting restricted stock units ("RSUs") - During the nine months ended December 31, 2022, the Company granted time-vesting RSUs covering 4,277,207 shares of common stock and having a fair value at the date of grant of $105.5 million. The RSUs granted in the current year primarily vest over three years. Grant date fair value of these units is equal to the quoted market price for the shares on the date of grant. RSU activity for the nine months ended December 31, 2022 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2022 4,176,682 $ 47.00 2.85 Granted 4,277,207 $ 24.62 Vested (1,287,052) $ 46.78 Forfeited or canceled (1,237,106) $ 37.18 Outstanding at December 31, 2022 5,929,731 $ 32.95 2.39 The total fair value of RSUs vested during the nine months ended December 31, 2022 was $29.9 million and is measured as the quoted market price of the Company's common stock on the vesting date for the number of shares vested. Performance-based restricted stock units ("PSUs") - Fiscal 2023 plan: During the nine months ended December 31, 2022, the Company granted PSUs covering 406,501 shares of common stock having a fair value at the date of grant of $10.0 million. The grants were made under two separate performance plans. Under the total shareholder return ("TSR") performance plan, units covering 121,951 shares of common stock were granted having a fair value at the date of grant of $3.7 million, determined using a Monte Carlo simulation model. The units vest subject to attainment of market conditions established by the compensation committee of the board of directors (“compensation committee”) and continuous employment through the vesting date. The units may vest in a number of shares from 0% to 200% of the award, based on the TSR of LiveRamp common stock compared to the TSR of the Russell 2000 market index for the period from April 1, 2022 to March 31, 2025. Under the operating metrics performance plan, units covering 284,550 shares of common stock were granted having a fair value at the date of grant of $6.3 million, which was equal to the quoted market price for the shares on the date of grant. The units vest subject to attainment of performance criteria established by the compensation committee and continuous employment through the vesting date. The units may vest in a number of shares from 0% to 200% of the award, at the end of the performance period, based on the average attainment of annual revenue growth and EBITDA margin targets for fiscal years 2023, 2024, and 2025. To the extent that shares are earned, 50% vest immediately and 50% vest on the one-year anniversary of attainment approval. Fiscal 2022 plans: Units under the Company's fiscal 2022 special incentive performance plan covering 36,425 shares of common stock will be measured and vesting evaluated on a quarterly basis beginning with the period ending March 31, 2023 and continuing through the end of the performance period. The units may vest in a number of shares from 0% to 100% of the award, based on the attainment of key productivity metrics for the period from January 1, 2023 to December 31, 2023. Units under the Company's fiscal 2022 TSR performance plan covering 49,977 shares of common stock will reach maturity of their relevant performance period at March 31, 2024. The units may vest in a number of shares from 0% to 200% of the award, based on the TSR of LiveRamp common stock compared to the TSR of the Russell 2000 market index for the period from April 1, 2021 to March 31, 2024. The initial measurement date for the fiscal 2022 operating metrics performance plan was June 30, 2022. Through December 31, 2022, performance metrics have resulted in an accumulated 50% achievement, or 58,312 total earned units under this plan. Of the earned amount, one-half vested immediately, while the remaining one-half will vest one year later. As of December 31, 2022, there remains a maximum potential of 174,930 additional units eligible for attainment under the plan. Quarterly measurements of attainment will continue through March 31, 2024. Fiscal 2021 plans: Units under the Company's fiscal 2021 TSR PSU plan covering 59,634 shares of common stock will reach maturity of their relevant performance period at March 31, 2023. The units may vest in a number of shares from 0% to 200% of the award, based on the TSR of LiveRamp common stock compared to TSR of the Russell 2000 market index for the period from April 1, 2020 to March 31, 2023. The initial measurement date for the fiscal 2021 operating metrics performance plan was June 30, 2021. Through December 31, 2022, performance measurements have resulted in an accumulated 50% achievement, or 71,666 total earned units under this plan. Of the earned amount, one-half vested immediately, while the remaining one-half vests one year later. As of December 31, 2022, there remains a maximum potential of 208,746 additional units eligible for attainment under the plan. Quarterly measurements of attainment will continue through March 31, 2023. Fiscal 2019 plans : The fiscal 2019 operating metrics performance plan reached maturity at September 30, 2020. Through the end of the performance period, performance measurements resulted in an accumulated 96% achievement, or 243,378 total earned units under this plan. PSU activity for the nine months ended December 31, 2022 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2022 584,468 $ 51.26 1.01 Granted 406,501 $ 24.65 Vested (134,671) $ 45.96 Forfeited or canceled (146,709) $ 61.20 Outstanding at December 31, 2022 709,589 $ 34.97 1.62 The total fair value of PSUs vested in the nine months ended December 31, 2022 was $3.0 million and is measured as the quoted market price of the Company’s common stock on the vesting date for the number of shares vested. Contingent Equity Awards - During the quarter ended June 30, 2022, the Company granted contingent time-based RSUs ("contingent RSUs") covering 338,101 shares of common stock and contingent PSUs ("contingent PSUs") covering 284,550 shares of common stock (collectively, the "contingent awards") to certain Company executives. The contingent awards were issued subject to shareholder approval of an amendment to increase the shares available for issuance under the 2005 Plan (the "2005 Plan Share Increase Amendment") at the 2022 Annual Meeting, and would be automatically forfeited if shareholder approval was not obtained. In light of the nature of the contingent awards, the Company concurrently awarded the contingent award recipients long-term cash awards subject to similar terms and conditions as the contingent awards that would only remain effective in the event that the shareholders did not approve the 2005 Plan Share Increase Amendment (the “contingent cash awards”). Shareholders approved the 2005 Plan Share Increase Amendment at the 2022 Annual Meeting. At that time, the contingent cash awards were automatically cancelled and, for accounting purposes, the contingent RSUs and contingent PSUs were modified and treated as non-contingent RSU and PSU grants effective as of August 9, 2022. The grants are included and reported above in the "Restricted Stock Unit Activity" section of this footnote under the time-vesting restricted stock units and performance-based restricted stock units sections, respectively. Other Stock Compensation Activity Acquisition-related Performance Plan Through December 31, 2022, the Company has recognized a total of $4.8 million as stock-based compensation expense related to the Acuity performance earnout plan. At December 31, 2022, the recognized, but unpaid, balance in other accrued expense in the condensed consolidated balance sheet was $1.4 million. The next and final annual settlement of $1.7 million is expected to occur in the second quarter of fiscal 2024. Acquisition-related Consideration Holdback Through December 31, 2022, the Company has recognized a total of $11.3 million as stock-based compensation expense related to the DataFleets consideration holdback. At December 31, 2022, the recognized, but unpaid, balance related to the DataFleets consideration holdback in other accrued expenses in the condensed consolidated balance sheet was $5.3 million. The next annual settlement of $6.0 million is expected to occur in the fourth quarter of this fiscal year. Through December 31, 2022, the Company has recognized a total of $24.4 million as stock-based compensation expense related to the DPM acquisition consideration holdback. The final annual settlement occurred in the quarter ended June 30, 2022. Qualified Employee Stock Purchase Plan ("ESPP") During the nine months ended December 31, 2022, 197,255 shares of common stock were purchased under the ESPP at a weighted-average price of $20.38 per share, resulting in cash proceeds of $4.0 million over the relevant offering periods. Stock-based compensation expense associated with the ESPP was $1.5 million for the nine months ended December 31, 2022. At December 31, 2022, there was approximately $0.9 million of total unrecognized stock-based compensation expense related to the ESPP, which is expected to be recognized on a straight-line basis over the remaining term of the current offering period. |
OTHER CURRENT AND NONCURRENT AS
OTHER CURRENT AND NONCURRENT ASSETS | 9 Months Ended |
Dec. 31, 2022 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
OTHER CURRENT AND NONCURRENT ASSETS | OTHER CURRENT AND NONCURRENT ASSETS: Other current assets consist of the following (dollars in thousands): December 31, 2022 March 31, 2022 Prepaid expenses and other $ 22,603 $ 13,947 Certificates of deposit 7,500 7,500 Assets of non-qualified retirement plan 12,069 15,528 Other current assets $ 42,172 $ 36,975 Other noncurrent assets consist of the following (dollars in thousands): December 31, 2022 March 31, 2022 Long-term prepaid revenue share $ 10,071 $ 13,468 Right-of-use assets (see Note 4) 34,953 59,459 Deferred tax asset 1,159 1,224 Deposits 3,539 4,486 Strategic investments 2,494 5,700 Other miscellaneous noncurrent assets 215 877 Other assets, net $ 52,431 $ 85,214 During the three months ended December 31, 2022, the Company became aware of a pending sale related to one of our strategic investments. As a result, the Company recorded a $4.0 million impairment that is recorded in other expense in the condensed consolidated statement of operations. |
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT | 9 Months Ended |
Dec. 31, 2022 | |
Property, Plant and Equipment [Abstract] | |
PROPERTY AND EQUIPMENT | PROPERTY AND EQUIPMENT: Property and equipment is summarized as follows (dollars in thousands): December 31, 2022 March 31, 2022 Leasehold improvements $ 27,490 $ 28,224 Data processing equipment 7,545 7,001 Office furniture and other equipment 7,919 9,776 42,954 45,001 Less accumulated depreciation and amortization 34,145 33,470 Property and equipment, net of accumulated depreciation and amortization $ 8,809 $ 11,531 |
GOODWILL
GOODWILL | 9 Months Ended |
Dec. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
GOODWILL | GOODWILL: Changes in goodwill for the nine months ended December 31, 2022 were as follows (dollars in thousands): Total Balance at March 31, 2022 $ 363,845 Purchase price accounting adjustment related to acquisition of Diablo (205) Change in foreign currency translation adjustment (511) Balance at December 31, 2022 $ 363,129 Goodwill by geography as of December 31, 2022 was: Total U.S. $ 360,073 APAC 3,056 Balance at December 31, 2022 $ 363,129 |
INTANGIBLE ASSETS
INTANGIBLE ASSETS | 9 Months Ended |
Dec. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
INTANGIBLE ASSETS | INTANGIBLE ASSETS: The amounts allocated to intangible assets from acquisitions include developed technology, customer relationships, trade names, and publisher and data supply relationships. The following table shows the amortization activity of intangible assets (dollars in thousands): December 31, 2022 March 31, 2022 Developed technology, gross $ 84,055 $ 84,146 Accumulated amortization (73,691) (67,980) Net developed technology $ 10,364 $ 16,166 Customer relationship/trade name, gross $ 43,480 $ 43,490 Accumulated amortization (42,641) (40,582) Net customer/trade name $ 839 $ 2,908 Publisher/data supply relationships, gross $ 39,800 $ 39,800 Accumulated amortization (37,800) (32,156) Net publisher/data supply relationships $ 2,000 $ 7,644 Total intangible assets, gross $ 167,335 $ 167,436 Total accumulated amortization (154,132) (140,718) Total intangible assets, net $ 13,203 $ 26,718 Total amortization expense related to intangible assets was $13.5 million and $13.9 million for the nine months ended December 31, 2022 and 2021, respectively. The following table presents the estimated future amortization expenses related to intangible assets. The amount for 2023 represents the remaining three months ending March 31, 2023. All other periods represent fiscal years ending March 31 (dollars in thousands). Fiscal Year: 2023 $ 3,343 2024 6,839 2025 3,021 $ 13,203 |
OTHER ACCRUED EXPENSES
OTHER ACCRUED EXPENSES | 9 Months Ended |
Dec. 31, 2022 | |
Other Accrued Expenses [Abstract]. | |
OTHER ACCRUED EXPENSES | OTHER ACCRUED EXPENSES: Other accrued expenses consist of the following (dollars in thousands): December 31, 2022 March 31, 2022 Liabilities of non-qualified retirement plan $ 12,069 $ 15,528 Short-term lease liabilities (see Note 4) 10,467 8,984 DPM acquisition consideration holdback (see Note 5) — 6,092 Acuity performance earnout liability (see Note 5) 1,393 2,420 DataFleets consideration holdback (see Note 5) 5,288 756 Diablo consideration holdback — 1,200 Rakam consideration holdback 223 223 Other miscellaneous accrued expenses 12,954 10,864 Other accrued expenses $ 42,394 $ 46,067 |
OTHER LIABILITIES
OTHER LIABILITIES | 9 Months Ended |
Dec. 31, 2022 | |
Other Liabilities Disclosure [Abstract] | |
OTHER LIABILITIES | OTHER LIABILITIES: Other liabilities consist of the following (dollars in thousands): December 31, 2022 March 31, 2022 Uncertain tax positions $ 28,047 $ 24,374 Long-term lease liabilities (see Note 4) 39,097 52,241 Restructuring accruals 5,795 3,619 Other 6,158 5,876 Other liabilities $ 79,097 $ 86,110 |
ALLOWANCE FOR CREDIT LOSSES
ALLOWANCE FOR CREDIT LOSSES | 9 Months Ended |
Dec. 31, 2022 | |
Credit Loss [Abstract] | |
ALLOWANCE FOR CREDIT LOSSES | ALLOWANCE FOR CREDIT LOSSES: Trade accounts receivable are presented net of allowances for credit losses, returns and credits based on the probability of future collections. The probability of future collections is based on specific considerations of historical loss patterns and an assessment of the continuation of such patterns based on past collection trends and known or anticipated future economic events that may impair collectability. Accounts receivable that are determined to be uncollectible are charged against the allowance for doubtful accounts. Indicators that there is no reasonable expectation of recovery include past due status greater than 360 days or bankruptcy of the debtor. The following table summarizes the Company's activity of allowance for credit losses, returns and credits (dollars in thousands): Balance at beginning of period Additions charged to costs and expenses Other changes Bad debts written off, net of amounts recovered Balance at end of period For the nine months ended December 31, 2022 $ 9,961 $ 1,728 $ 3 $ (1,651) $ 10,041 |
RESTRUCTURING, IMPAIRMENT AND O
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES | 9 Months Ended |
Dec. 31, 2022 | |
Restructuring and Related Activities [Abstract] | |
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES | RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES: Restructuring activities result in various costs, including asset write-offs, right of use ("ROU") asset group impairments, exit charges including severance, contract termination fees, and decommissioning and other costs. Any impairment of the asset is recognized immediately in the period the plan is approved. A reconciliation of the beginning and ending restructuring liabilities is shown below for the nine months ended December 31, 2022. The restructuring charges and adjustments are included in gains, losses and other items, net in the condensed consolidated statement of operations. The reserve balances are included in other accrued expenses and other liabilities in the condensed consolidated balance sheets (dollars in thousands). Employee-related Lease Total Balances at March 31, 2022 $ 47 $ 3,027 $ 3,074 Restructuring charges and adjustments 7,449 2,637 10,086 Payments (2,218) (757) (2,975) Balances at December 31, 2022 $ 5,278 $ 4,907 $ 10,185 Employee-related Restructuring Plans During the nine months ended December 31, 2022, the Company recorded a total of $7.4 million in employee-related restructuring charges and adjustments. The expense included severance and other employee-related charges primarily in the United States. Of the $7.4 million employee-related charges, $5.3 million remained accrued as of December 31, 2022 and are expected to be paid out during fiscal 2023. Lease-related Restructuring Plans and Impairments During the quarter ended September 30, 2022, the Company initiated a restructuring plan to lower its operating expenses by reducing its global real estate footprint. As part of this plan, during the quarter ended September 30, 2022, we exited three leased office spaces in the United States: one located in Boston, one located in Philadelphia, and one floor of leased office space in San Francisco. During the quarter ended December 31, 2022, we exited three additional leased office spaces: one located in Phoenix, Arizona, one located in the Netherlands, and one floor of leased office space in London, England. Based on a comparison of undiscounted cash flows to the ROU asset group of each exited lease, the Company determined that each of the ROU asset groups were impaired, driven largely by the difference between the existing lease terms and rates on the Company’s leases and the expected sublease terms and rates available in the market. This resulted in an impairment charge of $15.5 million which reflects the excess of the ROU asset group book value over its fair value, which was determined based on estimates of future discounted cash flows and is classified as Level 3 in the fair value hierarchy. The lease impairment charges included impairments of the operating lease ROU assets and the associated furniture, equipment, and leasehold improvements. Additionally, the Company recorded $2.6 million in lease-related restructuring charges and adjustments that covered other retirement obligations related to the leased office space in San Francisco and Phoenix. Of the $2.6 million lease-related charges, $2.6 million remained accrued as of December 31, 2022 and will be satisfied over the remainder of the San Francisco and Phoenix properties' lease terms, which continues through April 2029. In fiscal 2017, the Company made the strategic decision to exit and sub-lease a certain leased office facility under a staggered-exit plan. The full exit was completed in fiscal 2019. We intend to continue subleasing the facility to the extent possible. The liability will be satisfied over the remainder of the leased property's term, which continues through November 2025. Any future changes in the estimates or in the actual sublease income may require future adjustments to the liabilities, which would impact net earnings (loss) in the period the adjustment is recorded. Through December 31, 2022, the Company has recorded a total of $7.3 million of restructuring charges and adjustments related to this lease. Of the amount accrued for this facility lease, $2.3 million remained accrued at December 31, 2022. Gains, Losses and Other Items, net The following table summarizes the activity included in gains, losses and other items, net in the condensed consolidated statements of operations for each of the periods presented (dollars in thousands): Three Months Ended December 31, Nine Months Ended December 31, 2022 2021 2022 2021 Restructuring plan charges and adjustments $ 6,385 $ — $ 10,086 $ — Early contract terminations — — — 1,042 ROU asset group impairments 5,358 — 15,528 — Other — — (21) 254 $ 11,743 $ — $ 25,593 $ 1,296 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Dec. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES: Legal Matters The Company is involved in various claims and legal proceedings that arise in the ordinary course of business. Management routinely assesses the likelihood of adverse judgments or outcomes to these matters, as well as ranges of probable losses, to the extent losses are reasonably estimable. The Company records accruals for these matters to the extent that management concludes a loss is probable and the financial impact, should an adverse outcome occur, is reasonably estimable. These accruals are adjusted to reflect the impacts of negotiations, settlements, rulings, advice of legal counsel, and other information and events pertinent to a particular matter. These accruals are reflected in the Company’s condensed consolidated financial statements. In management’s opinion, the Company has made appropriate and adequate accruals for these matters, and management believes the probability of a material loss beyond the amounts accrued to be remote. However, the ultimate liability for these matters is uncertain, and if accruals are not adequate, an adverse outcome could have a material effect on the Company’s consolidated financial condition or results of operations. The Company maintains insurance coverage above certain limits. Commitments The following table presents the Company’s purchase commitments at December 31, 2022. Purchase commitments primarily include contractual commitments for the purchase of data, hosting services, software-as-a-service arrangements and leasehold improvements. The table does not include the future payment of liabilities related to uncertain tax positions of $28.0 million as the Company is not able to predict the periods in which the payments will be made (dollars in thousands): For the years ending March 31, 2023 2024 2025 2026 2027 Total Purchase commitments $ 8,551 $ 32,288 $ 74,647 $ 70,301 $ 696 $ 186,483 |
INCOME TAX
INCOME TAX | 9 Months Ended |
Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
INCOME TAX | INCOME TAX: In determining the quarterly provision for income taxes, the Company applies its estimated annual effective income tax rate to its year-to-date ordinary income or loss and adjusts for discrete tax items in the period. The estimated annual effective income tax rate for the current fiscal year is primarily driven by nondeductible stock-based compensation and the valuation allowance. Realization of the Company's net deferred tax assets is dependent upon its generation of sufficient taxable income of the proper character in future years in appropriate tax jurisdictions to obtain benefit from the reversal of temporary differences as well as net operating loss and tax credit carryforwards. As of December 31, 2022, the Company continues to maintain a full valuation allowance on its net deferred tax assets except in certain foreign jurisdictions. The current period tax expense reflects the impact of the capitalization of research and development expenditures in accordance with Internal Revenue Code ("IRC") Section 174, as modified by the Tax Cuts and Jobs Act of 2017. On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 (the “Act”). Under the Act, share repurchases made after December 31, 2022 will be subject to a 1% excise tax. In determining the total taxable value of shares repurchased, a deduction is allowed for the fair market value of any newly issued shares during the fiscal year. The excise tax and other corporate income tax changes included in the Act are not expected to have a material impact on our condensed consolidated financial statements. |
FAIR VALUE OF FINANCIAL INSTRUM
FAIR VALUE OF FINANCIAL INSTRUMENTS | 9 Months Ended |
Dec. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE OF FINANCIAL INSTRUMENTS | FAIR VALUE OF FINANCIAL INSTRUMENTS: The Company measures certain financial assets at fair value. Fair value is determined based upon the exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as determined by either the principal market or the most advantageous market. Inputs used in the valuation techniques to derive fair values are classified based on a three-level hierarchy, as follows: • Level 1 - Quoted prices in active markets for identical assets or liabilities. • Level 2 - Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3 - Unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities. For certain financial instruments, including accounts receivable, certificates of deposit, and accounts payable, the carrying amounts approximate their fair value due to the relatively short maturity of these balances. The following table details the fair value measurements within the fair value hierarchy of the Company's financial assets and liabilities at December 31, 2022 and March 31, 2022 that are measured at fair value on a recurring basis (dollars in thousands): December 31, 2022 Level 1 Level 2 Level 3 Total Other current assets: Assets of non-qualified retirement plan $ 12,069 $ — $ — $ 12,069 Total $ 12,069 $ — $ — $ 12,069 March 31, 2022 Level 1 Level 2 Level 3 Total Other current assets: Assets of non-qualified retirement plan $ 15,528 $ — $ — $ 15,528 Total $ 15,528 $ — $ — $ 15,528 Strategic investments consist of non-controlling equity investments in privately held companies. The Company elected the measurement alternative for these investments without readily determinable fair values and for which the Company does not have the ability to exercise significant influence. These investments are accounted for under the cost method of accounting. Under the cost method of accounting, the non-marketable equity securities are carried at cost less any impairment, plus or minus adjustments resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer, which is recorded within the statement of operations. The Company held $2.5 million and $5.7 million of strategic investments without readily determinable fair values at December 31, 2022 and March 31, 2022, respectively (see Note 6). These investments are included in other assets on the condensed consolidated balance sheets. During the nine months ended December 31, 2022, the Company recorded a $4.0 million impairment of a strategic investment that is recorded in other expense in the condensed consolidated statement of operations. There were no impairment charges for the nine months ended December 31, 2021. Certain of the Company's non-financial assets were measured at fair value on a nonrecurring basis during the nine months ended December 31, 2022, including property and equipment and right-of-use assets that were reduced to fair value when they were impaired as a result of the Company's lease-related restructuring plans. For additional information on the Company's fair value measurement in connection with the impairment of certain property and equipment and right-of-use assets associated with office facilities (see Note 13). |
BASIS OF PRESENTATION AND SUM_2
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Accounting Pronouncements Adopted During the Current Year and Recent Accounting Pronouncements Not Yet Adopted | Accounting Pronouncements Adopted During the Current Year Standard Description Date of Adoption Effect on Financial Statements or Other Significant Matters Accounting Standard Update (“ASU”) 2021-08 Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers ASU 2021-08 requires companies to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with the revenue recognition guidance as if the acquirer had entered into the original contract at the same time, and on the same terms, as the acquiree. Generally, this will result in the acquirer recognizing contract assets and liabilities at the same amounts recorded by the acquiree as of the acquisition date. Under the previous standard, an acquirer generally recognizes such items at fair value on the acquisition date. April 1, 2022 The adoption of this standard did not have a material impact on our condensed consolidated financial statements and related disclosures. Recent Accounting Pronouncements Not Yet Adopted Standard Description Date of Adoption Effect on Financial Statements or Other Significant Matters There are no material accounting pronouncements applicable to the Company not yet adopted |
BASIS OF PRESENTATION AND SUM_3
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Schedule of Accounting Pronouncements Adopted During the Current Year and Recent Accounting Pronouncements not yet Adopted | Accounting Pronouncements Adopted During the Current Year Standard Description Date of Adoption Effect on Financial Statements or Other Significant Matters Accounting Standard Update (“ASU”) 2021-08 Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers ASU 2021-08 requires companies to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with the revenue recognition guidance as if the acquirer had entered into the original contract at the same time, and on the same terms, as the acquiree. Generally, this will result in the acquirer recognizing contract assets and liabilities at the same amounts recorded by the acquiree as of the acquisition date. Under the previous standard, an acquirer generally recognizes such items at fair value on the acquisition date. April 1, 2022 The adoption of this standard did not have a material impact on our condensed consolidated financial statements and related disclosures. Recent Accounting Pronouncements Not Yet Adopted Standard Description Date of Adoption Effect on Financial Statements or Other Significant Matters There are no material accounting pronouncements applicable to the Company not yet adopted |
LOSS PER SHARE AND STOCKHOLDE_2
LOSS PER SHARE AND STOCKHOLDERS’ EQUITY (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY | |
Schedule of Reconciliation of Numerator And Denominator of Basic and Diluted Loss Per Share | A reconciliation of the numerator and denominator of basic and diluted loss per share is shown below (in thousands, except per share amounts): For the three months ended For the nine months ended December 31, December 31, 2022 2021 2022 2021 Basic earnings (loss) per share: Net loss from continuing operations $ (30,520) $ (15,375) $ (88,174) $ (4,441) Earnings from discontinued operations, net of tax 836 — 836 — Net loss $ (29,684) $ (15,375) $ (87,338) $ (4,441) Basic weighted-average shares outstanding 64,784 68,190 66,761 68,187 Continuing operations $ (0.47) $ (0.23) $ (1.32) $ (0.07) Discontinued operations 0.01 — 0.01 — Basic loss per share $ (0.46) $ (0.23) $ (1.31) $ (0.07) Diluted earnings (loss) per share: Basic weighted-average shares outstanding 64,784 68,190 66,761 68,187 Dilutive effect of common stock options and restricted stock as computed under the treasury stock method (1) — — — — Diluted weighted-average shares outstanding 64,784 68,190 66,761 68,187 Continuing operations $ (0.47) $ (0.23) $ (1.32) $ (0.07) Discontinued operations 0.01 — 0.01 — Diluted loss per share $ (0.46) $ (0.23) $ (1.31) $ (0.07) Loss per share totals may not sum due to rounding. |
Schedule of Anti-dilutive Options, Warrants and Restricted Stock Units Excluded from Computation of Loss Per Share | Restricted stock units that were outstanding during the periods presented but were not included in the computation of diluted earnings (loss) per share because their effect would have been anti-dilutive (other than due to the net loss position of the Company) are shown below (shares in thousands): For the three months ended For the nine months ended December 31, December 31, 2022 2021 2022 2021 Number of shares underlying restricted stock units 6,215 484 2,980 787 |
REVENUE FROM CONTRACTS WITH C_2
REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of Disaggregation of Revenue | In the following table, revenue is disaggregated by primary geographical market and major service offerings (dollars in thousands): For the nine months ended December 31, Primary Geographical Markets 2022 2021 United States $ 417,385 $ 363,446 Europe 24,172 18,507 Asia-Pacific ("APAC") 6,400 4,979 $ 447,957 $ 386,932 Major Offerings/Services Subscription $ 361,862 $ 313,046 Marketplace and Other 86,095 73,886 $ 447,957 $ 386,932 |
LEASES (Tables)
LEASES (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Leases [Abstract] | |
Schedule of Right-of-use Asset and Lease Liability Balances | Right-of-use assets and lease liabilities balances consist of the following (dollars in thousands): December 31, 2022 March 31, 2022 Right-of-use assets included in other assets, net $ 34,953 $ 59,459 Short-term lease liabilities included in other accrued expenses $ 10,467 $ 8,984 Long-term lease liabilities included in other liabilities $ 39,097 $ 52,241 Supplemental balance sheet information: Weighted average remaining lease term 5.8 years 6.4 years Weighted average discount rate 3.5 % 3.6 % |
Schedule of Future Minimum Payments under all Operating Leases | Future minimum payments under all operating leases (including operating leases with a duration of one year or less) as of December 31, 2022 are as follows (dollars in thousands): Amount Fiscal 2023 $ 2,809 Fiscal 2024 9,987 Fiscal 2025 8,514 Fiscal 2026 9,027 Fiscal 2027 8,017 Thereafter 16,584 Total undiscounted lease commitments 54,938 Less: Interest and short-term leases 5,374 Total discounted operating lease liabilities $ 49,564 |
STOCK-BASED COMPENSATION (Table
STOCK-BASED COMPENSATION (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Equity [Abstract] | |
Schedule of Stock-based Compensation Activity, by Award Type | The Company's stock-based compensation activity for the nine months ended December 31, 2022 and 2021, by award type, was (dollars in thousands): For the nine months ended December 31, 2022 2021 Stock options $ 776 $ 1,541 Restricted stock units 70,612 37,810 Diablo restricted stock awards — 660 Data Plus Math ("DPM") acquisition consideration holdback 2,031 6,092 Pacific Data Partners assumed performance plan — 6,826 Acuity performance plan 673 1,558 DataFleets acquisition consideration holdback 4,532 4,529 Employee stock purchase plan 1,527 1,282 Directors stock-based compensation 991 1,177 Total non-cash stock-based compensation included in the condensed consolidated statements of operations 81,142 61,475 Less expense related to liability-based equity awards (7,237) (18,237) Total non-cash stock-based compensation included in the condensed consolidated statements of equity $ 73,905 $ 43,238 |
Schedule of Effect of Stock-based Compensation Expense on Income, by Financial Statement Line Item | The effect of stock-based compensation expense on income, by financial statement line item, was (dollars in thousands): For the nine months ended December 31, 2022 2021 Cost of revenue $ 3,664 $ 2,906 Research and development 34,670 21,796 Sales and marketing 17,871 20,871 General and administrative 24,937 15,902 Total non-cash stock-based compensation included in the condensed consolidated statements of operations $ 81,142 $ 61,475 |
Schedule of Share-based Compensation Arrangement by Share Based Payment Award, Future Expense | The following table provides the expected future expense for all of the Company's outstanding equity awards at December 31, 2022, by award type. The amount for 2023 represents the remaining three months ending March 31, 2023. All other periods represent fiscal years ending March 31 (dollars in thousands). For the years ending March 31, 2023 2024 2025 2026 Total Stock options $ 203 $ 668 $ 157 $ — $ 1,028 Restricted stock units 20,108 73,695 61,170 15,526 170,499 Acuity performance plan 142 165 — — 307 DataFleets acquisition consideration holdback 1,078 2,266 — — 3,344 Employee stock purchase plan 554 375 — — 929 Expected future expense $ 22,085 $ 77,169 $ 61,327 $ 15,526 $ 176,107 |
Schedule of Option Activity | Stock option activity for the nine months ended December 31, 2022 was: Weighted-average Weighted-average remaining Aggregate Number of exercise price contractual term Intrinsic value shares per share (in years) (in thousands) Outstanding at March 31, 2022 730,004 $ 16.28 Exercised (198,563) $ 11.16 $ 3,634 Forfeited or canceled (2,690) $ 3.39 Outstanding at December 31, 2022 528,751 $ 18.26 1.9 $ 2,736 Exercisable at December 31, 2022 513,991 $ 18.76 1.8 $ 2,403 |
Schedule of Stock Options Outstanding and Exercisable | A summary of stock options outstanding and exercisable as of December 31, 2022 was: Options outstanding Options exercisable Range of Weighted-average Weighted-average Weighted-average exercise price Options remaining exercise price Options exercise price per share outstanding contractual life per share exercisable per share $ — — $ 9.99 44,813 6.1 years $ 0.97 30,053 $ 1.02 $ 10.00 — $ 19.99 182,603 2.4 years $ 17.49 182,603 $ 17.49 $ 20.00 — $ 24.99 301,335 1.0 years $ 21.31 301,335 $ 21.31 528,751 1.9 years $ 18.26 513,991 $ 18.76 |
Schedule of Changes in Restricted Stock | Changes in the Company's restricted stock awards for the nine months ended December 31, 2022 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Unvested restricted stock awards at March 31, 2022 24,766 $ 47.29 2.17 Vested (8,120) $ 47.29 Unvested restricted stock awards at December 31, 2022 16,646 $ 47.29 1.42 |
Schedule of Time-vesting Restricted Stock Unit Activity | RSU activity for the nine months ended December 31, 2022 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2022 4,176,682 $ 47.00 2.85 Granted 4,277,207 $ 24.62 Vested (1,287,052) $ 46.78 Forfeited or canceled (1,237,106) $ 37.18 Outstanding at December 31, 2022 5,929,731 $ 32.95 2.39 |
Schedule of Non-vested Performance-based Restricted Stock Units Activity | PSU activity for the nine months ended December 31, 2022 was: Weighted-average fair value per Weighted-average Number share at grant remaining contractual of shares date term (in years) Outstanding at March 31, 2022 584,468 $ 51.26 1.01 Granted 406,501 $ 24.65 Vested (134,671) $ 45.96 Forfeited or canceled (146,709) $ 61.20 Outstanding at December 31, 2022 709,589 $ 34.97 1.62 |
OTHER CURRENT AND NONCURRENT _2
OTHER CURRENT AND NONCURRENT ASSETS (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Schedule of Components of Other Current Assets | Other current assets consist of the following (dollars in thousands): December 31, 2022 March 31, 2022 Prepaid expenses and other $ 22,603 $ 13,947 Certificates of deposit 7,500 7,500 Assets of non-qualified retirement plan 12,069 15,528 Other current assets $ 42,172 $ 36,975 |
Schedule of Components of Other Noncurrent Assets | Other noncurrent assets consist of the following (dollars in thousands): December 31, 2022 March 31, 2022 Long-term prepaid revenue share $ 10,071 $ 13,468 Right-of-use assets (see Note 4) 34,953 59,459 Deferred tax asset 1,159 1,224 Deposits 3,539 4,486 Strategic investments 2,494 5,700 Other miscellaneous noncurrent assets 215 877 Other assets, net $ 52,431 $ 85,214 |
PROPERTY AND EQUIPMENT (Tables)
PROPERTY AND EQUIPMENT (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property, Plant and Equipment | Property and equipment is summarized as follows (dollars in thousands): December 31, 2022 March 31, 2022 Leasehold improvements $ 27,490 $ 28,224 Data processing equipment 7,545 7,001 Office furniture and other equipment 7,919 9,776 42,954 45,001 Less accumulated depreciation and amortization 34,145 33,470 Property and equipment, net of accumulated depreciation and amortization $ 8,809 $ 11,531 |
GOODWILL (Tables)
GOODWILL (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill by Operating Segment and Activity and by Component included in each Segment | Changes in goodwill for the nine months ended December 31, 2022 were as follows (dollars in thousands): Total Balance at March 31, 2022 $ 363,845 Purchase price accounting adjustment related to acquisition of Diablo (205) Change in foreign currency translation adjustment (511) Balance at December 31, 2022 $ 363,129 Goodwill by geography as of December 31, 2022 was: Total U.S. $ 360,073 APAC 3,056 Balance at December 31, 2022 $ 363,129 |
INTANGIBLE ASSETS (Tables)
INTANGIBLE ASSETS (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Amortization Activity of Intangible Assets | The following table shows the amortization activity of intangible assets (dollars in thousands): December 31, 2022 March 31, 2022 Developed technology, gross $ 84,055 $ 84,146 Accumulated amortization (73,691) (67,980) Net developed technology $ 10,364 $ 16,166 Customer relationship/trade name, gross $ 43,480 $ 43,490 Accumulated amortization (42,641) (40,582) Net customer/trade name $ 839 $ 2,908 Publisher/data supply relationships, gross $ 39,800 $ 39,800 Accumulated amortization (37,800) (32,156) Net publisher/data supply relationships $ 2,000 $ 7,644 Total intangible assets, gross $ 167,335 $ 167,436 Total accumulated amortization (154,132) (140,718) Total intangible assets, net $ 13,203 $ 26,718 |
Schedule of Estimated Future Amortization Expenses related to Purchases and Other Intangible Assets | The following table presents the estimated future amortization expenses related to intangible assets. The amount for 2023 represents the remaining three months ending March 31, 2023. All other periods represent fiscal years ending March 31 (dollars in thousands). Fiscal Year: 2023 $ 3,343 2024 6,839 2025 3,021 $ 13,203 |
OTHER ACCRUED EXPENSES (Tables)
OTHER ACCRUED EXPENSES (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Other Accrued Expenses [Abstract]. | |
Schedule of Other Accrued Expenses | Other accrued expenses consist of the following (dollars in thousands): December 31, 2022 March 31, 2022 Liabilities of non-qualified retirement plan $ 12,069 $ 15,528 Short-term lease liabilities (see Note 4) 10,467 8,984 DPM acquisition consideration holdback (see Note 5) — 6,092 Acuity performance earnout liability (see Note 5) 1,393 2,420 DataFleets consideration holdback (see Note 5) 5,288 756 Diablo consideration holdback — 1,200 Rakam consideration holdback 223 223 Other miscellaneous accrued expenses 12,954 10,864 Other accrued expenses $ 42,394 $ 46,067 |
OTHER LIABILITIES (Tables)
OTHER LIABILITIES (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Other Liabilities Disclosure [Abstract] | |
Other Liabilities | Other liabilities consist of the following (dollars in thousands): December 31, 2022 March 31, 2022 Uncertain tax positions $ 28,047 $ 24,374 Long-term lease liabilities (see Note 4) 39,097 52,241 Restructuring accruals 5,795 3,619 Other 6,158 5,876 Other liabilities $ 79,097 $ 86,110 |
ALLOWANCE FOR CREDIT LOSSES (Ta
ALLOWANCE FOR CREDIT LOSSES (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Credit Loss [Abstract] | |
Schedule of Activity of the Allowance For Credit Losses, Returns And Credits | The following table summarizes the Company's activity of allowance for credit losses, returns and credits (dollars in thousands): Balance at beginning of period Additions charged to costs and expenses Other changes Bad debts written off, net of amounts recovered Balance at end of period For the nine months ended December 31, 2022 $ 9,961 $ 1,728 $ 3 $ (1,651) $ 10,041 |
RESTRUCTURING, IMPAIRMENT AND_2
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Restructuring and Related Activities [Abstract] | |
Schedule of Restructuring Activity | The reserve balances are included in other accrued expenses and other liabilities in the condensed consolidated balance sheets (dollars in thousands). Employee-related Lease Total Balances at March 31, 2022 $ 47 $ 3,027 $ 3,074 Restructuring charges and adjustments 7,449 2,637 10,086 Payments (2,218) (757) (2,975) Balances at December 31, 2022 $ 5,278 $ 4,907 $ 10,185 |
Schedule of Gains, Losses and other Items | The following table summarizes the activity included in gains, losses and other items, net in the condensed consolidated statements of operations for each of the periods presented (dollars in thousands): Three Months Ended December 31, Nine Months Ended December 31, 2022 2021 2022 2021 Restructuring plan charges and adjustments $ 6,385 $ — $ 10,086 $ — Early contract terminations — — — 1,042 ROU asset group impairments 5,358 — 15,528 — Other — — (21) 254 $ 11,743 $ — $ 25,593 $ 1,296 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contractual Obligation, Fiscal Year Maturity | The following table presents the Company’s purchase commitments at December 31, 2022. Purchase commitments primarily include contractual commitments for the purchase of data, hosting services, software-as-a-service arrangements and leasehold improvements. The table does not include the future payment of liabilities related to uncertain tax positions of $28.0 million as the Company is not able to predict the periods in which the payments will be made (dollars in thousands): For the years ending March 31, 2023 2024 2025 2026 2027 Total Purchase commitments $ 8,551 $ 32,288 $ 74,647 $ 70,301 $ 696 $ 186,483 |
FAIR VALUE OF FINANCIAL INSTR_2
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
Schedule of Financial Assets and Liabilities Measured at Fair Value | The following table details the fair value measurements within the fair value hierarchy of the Company's financial assets and liabilities at December 31, 2022 and March 31, 2022 that are measured at fair value on a recurring basis (dollars in thousands): December 31, 2022 Level 1 Level 2 Level 3 Total Other current assets: Assets of non-qualified retirement plan $ 12,069 $ — $ — $ 12,069 Total $ 12,069 $ — $ — $ 12,069 March 31, 2022 Level 1 Level 2 Level 3 Total Other current assets: Assets of non-qualified retirement plan $ 15,528 $ — $ — $ 15,528 Total $ 15,528 $ — $ — $ 15,528 |
LOSS PER SHARE AND STOCKHOLDE_3
LOSS PER SHARE AND STOCKHOLDERS’ EQUITY - Reconciliation of Basic and Diluted Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Basic earnings (loss) per share: | ||||
Net loss from continuing operations | $ (30,520) | $ (15,375) | $ (88,174) | $ (4,441) |
Earnings from discontinued operations | 836 | 0 | 836 | 0 |
Net loss | $ (29,684) | $ (15,375) | $ (87,338) | $ (4,441) |
Basic weighted-average shares outstanding (in shares) | 64,784 | 68,190 | 66,761 | 68,187 |
Continuing operations (in USD per share) | $ (0.47) | $ (0.23) | $ (1.32) | $ (0.07) |
Discontinued operations (in USD per share) | 0.01 | 0 | 0.01 | 0 |
Basic earnings (loss) per share (in USD per share) | $ (0.46) | $ (0.23) | $ (1.31) | $ (0.07) |
Diluted earnings (loss) per share: | ||||
Basic weighted-average shares outstanding (in shares) | 64,784 | 68,190 | 66,761 | 68,187 |
Dilutive effect of common stock options and restricted stock as computed under the treasury stock method (in shares) | 0 | 0 | 0 | 0 |
Diluted weighted-average shares outstanding (in shares) | 64,784 | 68,190 | 66,761 | 68,187 |
Continuing operations (in USD per share) | $ (0.47) | $ (0.23) | $ (1.32) | $ (0.07) |
Discontinued operations (in USD per share) | 0.01 | 0 | 0.01 | 0 |
Diluted earnings (loss) per share (in USD per share) | $ (0.46) | $ (0.23) | $ (1.31) | $ (0.07) |
LOSS PER SHARE AND STOCKHOLDE_4
LOSS PER SHARE AND STOCKHOLDERS’ EQUITY - Anti-dilutive Shares (Details) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY [Abstract] | ||||
Antidilutive securities excluded from computation of earnings per share, amount | 6,215 | 484 | 2,980 | 787 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of earnings per share, amount | 6,215 | 484 | 2,980 | 787 |
Continuing operations | ||||
EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY [Abstract] | ||||
Antidilutive securities excluded from computation of earnings per share, amount | 500 | 1,700 | 600 | 1,400 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of earnings per share, amount | 500 | 1,700 | 600 | 1,400 |
LOSS PER SHARE AND STOCKHOLDE_5
LOSS PER SHARE AND STOCKHOLDERS’ EQUITY - Narrative (Details) - USD ($) $ in Thousands, shares in Millions | 9 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 20, 2022 | Mar. 31, 2022 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Acquisition of treasury stock | $ 149,997 | $ 49,224 | ||
Treasury stock, at cost | 2,251,816 | $ 2,099,765 | ||
Accumulated other comprehensive income (loss), foreign currency translation adjustment | 4,200 | $ 5,700 | ||
Common Stock Repurchase Program | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Stock repurchase program, authorized additional amount | $ 100,000 | |||
Stock repurchase program, authorized amount | $ 1,100,000 | |||
Acquisition of treasury stock (in shares) | 6.1 | |||
Acquisition of treasury stock | $ 150,000 | |||
Treasury stock, at cost (in shares) | 35.6 | |||
Treasury stock, at cost | $ 882,200 | |||
Stock repurchase program, remaining amount | $ 217,800 |
REVENUE FROM CONTRACTS WITH C_3
REVENUE FROM CONTRACTS WITH CUSTOMERS - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disaggregation of Revenue [Line Items] | ||||
Revenues | $ 158,615 | $ 140,604 | $ 447,957 | $ 386,932 |
Subscription | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 361,862 | 313,046 | ||
Marketplace and Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 86,095 | 73,886 | ||
United States | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 417,385 | 363,446 | ||
Europe | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 24,172 | 18,507 | ||
Asia-Pacific ("APAC") | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | $ 6,400 | $ 4,979 |
REVENUE FROM CONTRACTS WITH C_4
REVENUE FROM CONTRACTS WITH CUSTOMERS - Transaction Price Allocated to the Remaining Performance Obligations (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation | $ 405.7 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation | $ 324.4 |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 12 months |
LEASES - Lease Cost (Details)
LEASES - Lease Cost (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Mar. 31, 2022 |
Leases [Abstract] | ||
Right-of-use assets included in other assets, net | $ 34,953 | $ 59,459 |
Operating lease, right-of-use asset, statement of financial position [Extensible Enumeration] | Other assets, net | Other assets, net |
Short-term lease liabilities included in other accrued expenses | $ 10,467 | $ 8,984 |
Operating lease, liability, current, statement of financial position [Extensible Enumeration] | Other Accrued Liabilities, Current | Other Accrued Liabilities, Current |
Long-term lease liabilities included in other liabilities | $ 39,097 | $ 52,241 |
Operating lease, liability, noncurrent, statement of financial position [Extensible Enumeration] | Other liabilities | Other liabilities |
Weighted average remaining lease term | 5 years 9 months 18 days | 6 years 4 months 24 days |
Weighted average discount rate | 3.50% | 3.60% |
LEASES - Narrative (Details)
LEASES - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Operating lease costs | $ 9,000 | $ 8,100 | ||
Impairment charges | $ 5,358 | $ 0 | 15,528 | $ 0 |
Fiscal 2023 | 2,809 | 2,809 | ||
Fiscal 2024 | 9,987 | 9,987 | ||
Fiscal 2025 | 8,514 | 8,514 | ||
Fiscal 2026 | 9,027 | 9,027 | ||
Leased office facilities | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Fiscal 2023 | 675 | 675 | ||
Fiscal 2024 | 2,698 | 2,698 | ||
Fiscal 2025 | 2,698 | 2,698 | ||
Fiscal 2026 | $ 1,799 | $ 1,799 |
LEASES - Operating Lease, Liabi
LEASES - Operating Lease, Liability Maturity (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
Leases [Abstract] | |
Fiscal 2023 | $ 2,809 |
Fiscal 2024 | 9,987 |
Fiscal 2025 | 8,514 |
Fiscal 2026 | 9,027 |
Fiscal 2027 | 8,017 |
Thereafter | 16,584 |
Total undiscounted lease commitments | 54,938 |
Less: Interest and short-term leases | 5,374 |
Total discounted operating lease liabilities | $ 49,564 |
STOCK-BASED COMPENSATION - Narr
STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Dec. 31, 2022 | Jun. 30, 2022 | Sep. 30, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | Sep. 30, 2022 | |
Share-based compensation | ||||||||
Total shares reserved for issuance since inception of the stock option and equity compensation plans (in shares) | 37,900,000 | 42,400,000 | ||||||
Number of available shares (in shares) | 4,500,000 | |||||||
Vesting period | 1 year | |||||||
Award vesting rights percentage | 50% | |||||||
Award vesting percentage after one year | 50% | |||||||
Performance Based Stock Units | ||||||||
Share-based compensation | ||||||||
Granted (in shares) | 406,501 | |||||||
Aggregate fair value of restricted stock units granted | $ 10,000 | |||||||
Acuity Data | ||||||||
Share-based compensation | ||||||||
Non-cash stock-based compensation expense | 4,800 | |||||||
Business combination, contingent consideration, liability, expected costs | $ 1,700 | 1,700 | ||||||
Acuity Data | Accrued Liabilities | ||||||||
Share-based compensation | ||||||||
Business combination, contingent consideration, liability | $ 1,400 | 1,400 | ||||||
Restricted Stock | Diablo.AI, Inc. | ||||||||
Share-based compensation | ||||||||
Vested in period, fair value | $ 200 | |||||||
Outstanding at the end of the period (in shares) | 16,646 | 16,646 | 24,766 | |||||
Restricted stock units | ||||||||
Share-based compensation | ||||||||
Share-based compensation expense | $ 70,612 | $ 37,810 | ||||||
Restricted stock units | Vesting in four years | ||||||||
Share-based compensation | ||||||||
Granted (in shares) | 4,277,207 | |||||||
Aggregate fair value of restricted stock units granted | $ 105,500 | |||||||
Vesting period | 3 years | |||||||
Restricted stock units | Time Based Vesting | ||||||||
Share-based compensation | ||||||||
Vested in period, fair value | $ 29,900 | |||||||
Granted (in shares) | 4,277,207 | |||||||
Forfeited in period (in shares) | 1,237,106 | |||||||
Outstanding at the end of the period (in shares) | 5,929,731 | 5,929,731 | 4,176,682 | |||||
Restricted stock units | Performance Based Stock Units | ||||||||
Share-based compensation | ||||||||
Granted (in shares) | 121,951 | |||||||
Aggregate fair value of restricted stock units granted | $ 3,700 | |||||||
Restricted stock units | ATS Performance Plan Vesting Total Shareholder Return | ||||||||
Share-based compensation | ||||||||
Granted (in shares) | 36,425 | |||||||
Restricted stock units | ATS Performance Plan Vesting Total Shareholder Return | Minimum | ||||||||
Share-based compensation | ||||||||
Award vesting rights percentage | 0% | |||||||
Restricted stock units | ATS Performance Plan Vesting Total Shareholder Return | Maximum | ||||||||
Share-based compensation | ||||||||
Award vesting rights percentage | 100% | |||||||
Restricted stock units | Performance Shares Vesting Total Shareholder Return | ||||||||
Share-based compensation | ||||||||
Granted (in shares) | 49,977 | |||||||
Restricted stock units | Performance Shares Vesting Total Shareholder Return | Minimum | ||||||||
Share-based compensation | ||||||||
Award vesting rights percentage | 0% | 0% | ||||||
Restricted stock units | Performance Shares Vesting Total Shareholder Return | Maximum | ||||||||
Share-based compensation | ||||||||
Award vesting rights percentage | 200% | 200% | ||||||
Restricted stock units | Performance stock | ||||||||
Share-based compensation | ||||||||
Granted (in shares) | 406,501 | 59,634 | ||||||
Forfeited in period (in shares) | 146,709 | |||||||
Outstanding at the end of the period (in shares) | 709,589 | 709,589 | 584,468 | |||||
The total fair value of performance-based restricted stock units | $ 3,000 | |||||||
Restricted stock units | Contingent Equity Awards | ||||||||
Share-based compensation | ||||||||
Granted (in shares) | 338,101 | |||||||
Restricted stock units | Performance Based Stock Units Under Operating Metrics | ||||||||
Share-based compensation | ||||||||
Granted (in shares) | 284,550 | |||||||
Aggregate fair value of restricted stock units granted | $ 6,300 | |||||||
Restricted stock units | Performance Based Stock Units Under Operating Metrics | Minimum | ||||||||
Share-based compensation | ||||||||
Award vesting rights percentage | 0% | |||||||
Restricted stock units | Performance Based Stock Units Under Operating Metrics | Maximum | ||||||||
Share-based compensation | ||||||||
Award vesting rights percentage | 200% | |||||||
Restricted stock units | 2021 Performance Shares That Will Vest Immediately | ||||||||
Share-based compensation | ||||||||
Forfeited in period (in shares) | 71,666 | |||||||
Outstanding at the end of the period (in shares) | 208,746 | 208,746 | ||||||
Hurdle achievement, percentage | 50% | |||||||
Restricted stock units | 2021 Performance Shares That Will Vest In One Year | ||||||||
Share-based compensation | ||||||||
Vesting period | 1 year | |||||||
Restricted stock units | Diablo.AI, Inc. | ||||||||
Share-based compensation | ||||||||
Share-based compensation expense | $ 0 | 660 | ||||||
Performance stock | Contingent Equity Awards | ||||||||
Share-based compensation | ||||||||
Granted (in shares) | 284,550 | |||||||
Employee stock purchase plan | ||||||||
Share-based compensation | ||||||||
Share-based compensation expense | 1,527 | $ 1,282 | ||||||
Stock issued during period, ESPP, value | $ 4,000 | |||||||
Stock issued during period, ESPP (in shares) | 197,255 | |||||||
Shares issued, price per share (in dollars per share) | $ 20.38 | $ 20.38 | ||||||
Stock Option and Equity Compensation Plans | ||||||||
Share-based compensation | ||||||||
Total shares reserved for issuance since inception of the stock option and equity compensation plans (in shares) | 39,100,000 | 43,600,000 | ||||||
Shares which remained available for future grants (in shares) | 4,100,000 | 4,100,000 | ||||||
2005 Plan | ||||||||
Share-based compensation | ||||||||
Share-based compensation expense | $ 7,000 | |||||||
Operating Metrics Performance Plan | Restricted stock units | ||||||||
Share-based compensation | ||||||||
Vesting period | 1 year | |||||||
Award vesting rights percentage | 50% | |||||||
Forfeited in period (in shares) | 58,312 | |||||||
Outstanding at the end of the period (in shares) | 174,930 | 174,930 | ||||||
Operating Metrics Performance Plan Units That Will Vest Immediately | Restricted stock units | ||||||||
Share-based compensation | ||||||||
Award vesting rights percentage | 50% | |||||||
Operating Metrics Performance Plan Units That Will Vest In One Year | Restricted stock units | ||||||||
Share-based compensation | ||||||||
Award vesting rights percentage | 50% | |||||||
2021 Performance Shares That Will Vest Immediately | Restricted stock units | ||||||||
Share-based compensation | ||||||||
Award vesting rights percentage | 50% | |||||||
2021 Performance Shares That Will Vest In One Year | Restricted stock units | ||||||||
Share-based compensation | ||||||||
Award vesting rights percentage | 50% | |||||||
2019 Operating Metrics Performance Plan | Restricted stock units | ||||||||
Share-based compensation | ||||||||
Award vesting rights percentage | 96% | |||||||
Forfeited in period (in shares) | 243,378 |
STOCK-BASED COMPENSATION - Stoc
STOCK-BASED COMPENSATION - Stock-based Compensation Activity, by Award Type (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Share-based compensation | ||
Total non-cash stock-based compensation | $ 81,142 | $ 61,475 |
Total non-cash stock-based compensation included in the condensed consolidated statements of equity | 73,905 | 43,238 |
Stock options | ||
Share-based compensation | ||
Share-based compensation expense | 776 | 1,541 |
Restricted stock units | ||
Share-based compensation | ||
Share-based compensation expense | 70,612 | 37,810 |
Restricted stock units | Diablo.AI, Inc. | ||
Share-based compensation | ||
Share-based compensation expense | 0 | 660 |
Consideration Holdback | Data Plus Math Corporation | ||
Share-based compensation | ||
Share-based compensation expense | 2,031 | 6,092 |
Consideration Holdback | DataFleets, Ltd | ||
Share-based compensation | ||
Share-based compensation expense | 4,532 | 4,529 |
Pacific Data Partners, LLC Agreement Plan | Pacific Data Partners LLC | ||
Share-based compensation | ||
Share-based compensation expense | 0 | 6,826 |
Acuity Performance Earnout | Acuity Data | ||
Share-based compensation | ||
Share-based compensation expense | 673 | 1,558 |
Employee stock purchase plan | ||
Share-based compensation | ||
Share-based compensation expense | 1,527 | 1,282 |
Directors stock-based compensation | ||
Share-based compensation | ||
Share-based compensation expense | 991 | 1,177 |
Liability-based equity awards | ||
Share-based compensation | ||
Total non-cash stock-based compensation | $ (7,237) | $ (18,237) |
STOCK-BASED COMPENSATION - Effe
STOCK-BASED COMPENSATION - Effect of Stock-based Compensation Expense on Income, by Financial Statement Line Item (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Share-based compensation | ||
Total non-cash stock-based compensation | $ 81,142 | $ 61,475 |
Cost of revenue | ||
Share-based compensation | ||
Total non-cash stock-based compensation | 3,664 | 2,906 |
Research and development | ||
Share-based compensation | ||
Total non-cash stock-based compensation | 34,670 | 21,796 |
Sales and marketing | ||
Share-based compensation | ||
Total non-cash stock-based compensation | 17,871 | 20,871 |
General and administrative | ||
Share-based compensation | ||
Total non-cash stock-based compensation | $ 24,937 | $ 15,902 |
STOCK-BASED COMPENSATION - Futu
STOCK-BASED COMPENSATION - Future Expense, by Award Type (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
Share-based compensation | |
Total | $ 176,107 |
2023 | |
Share-based compensation | |
Total | 22,085 |
2024 | |
Share-based compensation | |
Total | 77,169 |
2025 | |
Share-based compensation | |
Total | 61,327 |
2026 | |
Share-based compensation | |
Total | 15,526 |
Stock options | |
Share-based compensation | |
Share-based compensation not yet recognized | 1,028 |
Stock options | 2023 | |
Share-based compensation | |
Share-based compensation not yet recognized | 203 |
Stock options | 2024 | |
Share-based compensation | |
Share-based compensation not yet recognized | 668 |
Stock options | 2025 | |
Share-based compensation | |
Share-based compensation not yet recognized | 157 |
Stock options | 2026 | |
Share-based compensation | |
Share-based compensation not yet recognized | 0 |
Restricted stock units | |
Share-based compensation | |
Future share-based compensation expense expected | 170,499 |
Restricted stock units | 2023 | |
Share-based compensation | |
Future share-based compensation expense expected | 20,108 |
Restricted stock units | 2024 | |
Share-based compensation | |
Future share-based compensation expense expected | 73,695 |
Restricted stock units | 2025 | |
Share-based compensation | |
Future share-based compensation expense expected | 61,170 |
Restricted stock units | 2026 | |
Share-based compensation | |
Future share-based compensation expense expected | 15,526 |
Acuity Performance Earnout | Acuity Data | |
Share-based compensation | |
Future share-based compensation expense expected | 307 |
Acuity Performance Earnout | Acuity Data | 2023 | |
Share-based compensation | |
Future share-based compensation expense expected | 142 |
Acuity Performance Earnout | Acuity Data | 2024 | |
Share-based compensation | |
Future share-based compensation expense expected | 165 |
Acuity Performance Earnout | Acuity Data | 2025 | |
Share-based compensation | |
Future share-based compensation expense expected | 0 |
Acuity Performance Earnout | Acuity Data | 2026 | |
Share-based compensation | |
Future share-based compensation expense expected | 0 |
Consideration Holdback | DataFleets, Ltd | |
Share-based compensation | |
Future share-based compensation expense expected | 3,344 |
Consideration Holdback | DataFleets, Ltd | 2023 | |
Share-based compensation | |
Future share-based compensation expense expected | 1,078 |
Consideration Holdback | DataFleets, Ltd | 2024 | |
Share-based compensation | |
Future share-based compensation expense expected | 2,266 |
Consideration Holdback | DataFleets, Ltd | 2025 | |
Share-based compensation | |
Future share-based compensation expense expected | 0 |
Consideration Holdback | DataFleets, Ltd | 2026 | |
Share-based compensation | |
Future share-based compensation expense expected | 0 |
Employee stock purchase plan | |
Share-based compensation | |
Future share-based compensation expense expected | 929 |
Total | 900 |
Employee stock purchase plan | 2023 | |
Share-based compensation | |
Future share-based compensation expense expected | 554 |
Employee stock purchase plan | 2024 | |
Share-based compensation | |
Future share-based compensation expense expected | 375 |
Employee stock purchase plan | 2025 | |
Share-based compensation | |
Future share-based compensation expense expected | 0 |
Employee stock purchase plan | 2026 | |
Share-based compensation | |
Future share-based compensation expense expected | $ 0 |
STOCK-BASED COMPENSATION - St_2
STOCK-BASED COMPENSATION - Stock Option Activity (Details) $ / shares in Units, $ in Thousands | 9 Months Ended |
Dec. 31, 2022 USD ($) $ / shares shares | |
Stock Option Activity - Number of Shares | |
Outstanding at beginning of the period (in shares) | shares | 730,004 |
Exercised (in shares) | shares | (198,563) |
Forfeited or cancelled (in shares) | shares | (2,690) |
Outstanding at end of the period (in shares) | shares | 528,751 |
Weighted-average exercise price per share | |
Outstanding at the beginning of the period (in dollars per share) | $ / shares | $ 16.28 |
Exercised (in dollars per share) | $ / shares | 11.16 |
Forfeited or cancelled (in dollars per share) | $ / shares | 3.39 |
Outstanding at the end of the period (in dollars per share) | $ / shares | $ 18.26 |
Weighted average remaining contractual term | 1 year 10 months 24 days |
Exercised | $ | $ 3,634 |
Outstanding at the end of the period | $ | $ 2,736 |
Exercisable at the end of the period (in shares) | shares | 513,991 |
Exercisable at the end of the period (in dollars per share) | $ / shares | $ 18.76 |
Exercisable at the end of the period | 1 year 9 months 18 days |
Exercisable at the end of the period | $ | $ 2,403 |
STOCK-BASED COMPENSATION - Summ
STOCK-BASED COMPENSATION - Summary of Options (Details) | 9 Months Ended |
Dec. 31, 2022 $ / shares shares | |
Stock options outstanding and exercisable by exercise price range | |
Options outstanding (in shares) | shares | 528,751 |
Options outstanding - Weighted-average remaining contractual life | 1 year 10 months 24 days |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 18.26 |
Options exercisable (in shares) | shares | 513,991 |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 18.76 |
Range of exercise price per share from $0 to $9.99 | |
Stock options outstanding and exercisable by exercise price range | |
Exercise price per share, low end of range (in dollars per share) | 0 |
Exercise price per share, high end of range (in dollars per share) | $ 9.99 |
Options outstanding (in shares) | shares | 44,813 |
Options outstanding - Weighted-average remaining contractual life | 6 years 1 month 6 days |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 0.97 |
Options exercisable (in shares) | shares | 30,053 |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 1.02 |
Range of exercise price per share from $10.00 to $19.99 | |
Stock options outstanding and exercisable by exercise price range | |
Exercise price per share, low end of range (in dollars per share) | 10 |
Exercise price per share, high end of range (in dollars per share) | $ 19.99 |
Options outstanding (in shares) | shares | 182,603 |
Options outstanding - Weighted-average remaining contractual life | 2 years 4 months 24 days |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 17.49 |
Options exercisable (in shares) | shares | 182,603 |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 17.49 |
Range of exercise price per share from $20.00 to $24.99 | |
Stock options outstanding and exercisable by exercise price range | |
Exercise price per share, low end of range (in dollars per share) | 20 |
Exercise price per share, high end of range (in dollars per share) | $ 24.99 |
Options outstanding (in shares) | shares | 301,335 |
Options outstanding - Weighted-average remaining contractual life | 1 year |
Options outstanding - Weighted-average exercise price per share (in dollars per share) | $ 21.31 |
Options exercisable (in shares) | shares | 301,335 |
Options exercisable - Weighted-average exercise price per share (in dollars per share) | $ 21.31 |
STOCK-BASED COMPENSATION - Unve
STOCK-BASED COMPENSATION - Unvested Restricted Stock Awards (Details) - Restricted Stock - Diablo.AI, Inc. - $ / shares | 9 Months Ended | 12 Months Ended |
Dec. 31, 2022 | Mar. 31, 2022 | |
Non-vested restricted stock unit activity | ||
Outstanding at the beginning of the period (in shares) | 24,766 | |
Vested (in shares) | (8,120) | |
Outstanding at the end of the period (in shares) | 16,646 | 24,766 |
Non-vested restricted stock units, Weighted average fair value per share at grant date | ||
Outstanding at the beginning of the period (in dollars per share) | $ 47.29 | |
Vested (in dollars per share) | 47.29 | |
Outstanding at the end of the period (in dollars per share) | $ 47.29 | $ 47.29 |
Weighted average remaining contractual term (in years) | 1 year 5 months 1 day | 2 years 2 months 1 day |
STOCK-BASED COMPENSATION - Time
STOCK-BASED COMPENSATION - Time-Vesting Restricted Stock Unit Activity (Details) - Restricted stock units - Time Based Vesting - $ / shares | 9 Months Ended | 12 Months Ended |
Dec. 31, 2022 | Mar. 31, 2022 | |
Non-vested restricted stock unit activity | ||
Outstanding at the beginning of the period (in shares) | 4,176,682 | |
Granted (in shares) | 4,277,207 | |
Vested (in shares) | (1,287,052) | |
Forfeited or cancelled (in shares) | (1,237,106) | |
Outstanding at the end of the period (in shares) | 5,929,731 | 4,176,682 |
Non-vested restricted stock units, Weighted average fair value per share at grant date | ||
Outstanding at the beginning of the period (in dollars per share) | $ 47 | |
Granted (in dollars per share) | 24.62 | |
Vested (in dollars per share) | 46.78 | |
Forfeited or cancelled (in dollars per share) | 37.18 | |
Outstanding at the end of the period (in dollars per share) | $ 32.95 | $ 47 |
Weighted average remaining contractual term (in years) | 2 years 4 months 20 days | 2 years 10 months 6 days |
STOCK-BASED COMPENSATION - Non-
STOCK-BASED COMPENSATION - Non-vested Performance-based Restricted Stock Unit Activity (Details) - Restricted stock units - Performance stock - $ / shares | 9 Months Ended | 12 Months Ended | |
Dec. 31, 2022 | Mar. 31, 2022 | Mar. 31, 2021 | |
Non-vested restricted stock unit activity | |||
Outstanding at the beginning of the period (in shares) | 584,468 | ||
Granted (in shares) | 406,501 | 59,634 | |
Vested (in shares) | (134,671) | ||
Forfeited or cancelled (in shares) | (146,709) | ||
Outstanding at the end of the period (in shares) | 709,589 | 584,468 | |
Non-vested restricted stock units, Weighted average fair value per share at grant date | |||
Outstanding at the beginning of the period (in dollars per share) | $ 51.26 | ||
Granted (in dollars per share) | 24.65 | ||
Vested (in dollars per share) | 45.96 | ||
Forfeited or cancelled (in dollars per share) | 61.20 | ||
Outstanding at the end of the period (in dollars per share) | $ 34.97 | $ 51.26 | |
Weighted average remaining contractual term (in years) | 1 year 7 months 13 days | 1 year 3 days |
STOCK-BASED COMPENSATION - St_3
STOCK-BASED COMPENSATION - Stock Option Activity of Continuing Operations (Details) $ / shares in Units, $ in Thousands | 9 Months Ended |
Dec. 31, 2022 USD ($) $ / shares | |
Share-based compensation | |
Exercised (in dollars per share) | $ / shares | $ 11.16 |
Exercised | $ | $ 3,634 |
STOCK-BASED COMPENSATION - Ti_2
STOCK-BASED COMPENSATION - Time-vesting Restricted Stock Unit, Narrative (Details) $ in Millions | 9 Months Ended |
Dec. 31, 2022 USD ($) shares | |
Share-based compensation | |
Vesting period | 1 year |
Restricted stock units | Vesting in four years | |
Share-based compensation | |
Granted (in shares) | shares | 4,277,207 |
Aggregate fair value of restricted stock units granted | $ | $ 105.5 |
Vesting period | 3 years |
Restricted stock units | Time Based Vesting | |
Share-based compensation | |
Granted (in shares) | shares | 4,277,207 |
Vested in period, fair value | $ | $ 29.9 |
STOCK-BASED COMPENSATION - Perf
STOCK-BASED COMPENSATION - Performance-based Restricted Stock Units, Narrative (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended | |
Dec. 31, 2022 | Mar. 31, 2022 | Mar. 31, 2021 | |
Share-based compensation | |||
Award vesting rights percentage | 50% | ||
Vesting period | 1 year | ||
Acuity Data | |||
Share-based compensation | |||
Non-cash stock-based compensation expense | $ 4.8 | ||
Business combination, contingent consideration, liability, expected costs | 1.7 | ||
Acuity Data | Accrued Liabilities | |||
Share-based compensation | |||
Business combination, contingent consideration, liability | $ 1.4 | ||
Restricted stock units | Operating Metrics Performance Plan | |||
Share-based compensation | |||
Award vesting rights percentage | 50% | ||
Vesting period | 1 year | ||
Forfeited in period (in shares) | 58,312 | ||
Outstanding at the end of the period (in shares) | 174,930 | ||
Restricted stock units | Operating Metrics Performance Plan Units That Will Vest Immediately | |||
Share-based compensation | |||
Award vesting rights percentage | 50% | ||
Restricted stock units | Performance stock | |||
Share-based compensation | |||
Granted (in shares) | 406,501 | 59,634 | |
Forfeited in period (in shares) | 146,709 | ||
Outstanding at the end of the period (in shares) | 709,589 | 584,468 | |
Vesting in period (in shares) | 134,671 | ||
The total fair value of performance-based restricted stock units | $ 3 | ||
Restricted stock units | ATS Performance Plan Vesting Total Shareholder Return | |||
Share-based compensation | |||
Granted (in shares) | 36,425 | ||
Restricted stock units | ATS Performance Plan Vesting Total Shareholder Return | Minimum | |||
Share-based compensation | |||
Award vesting rights percentage | 0% | ||
Restricted stock units | ATS Performance Plan Vesting Total Shareholder Return | Maximum | |||
Share-based compensation | |||
Award vesting rights percentage | 100% | ||
Restricted stock units | Performance Shares Vesting Total Shareholder Return | |||
Share-based compensation | |||
Granted (in shares) | 49,977 | ||
Restricted stock units | Performance Shares Vesting Total Shareholder Return | Minimum | |||
Share-based compensation | |||
Award vesting rights percentage | 0% | 0% | |
Restricted stock units | Performance Shares Vesting Total Shareholder Return | Maximum | |||
Share-based compensation | |||
Award vesting rights percentage | 200% | 200% | |
Restricted stock units | 2021 Performance Shares That Will Vest Immediately | |||
Share-based compensation | |||
Hurdle achievement, percentage | 50% | ||
Forfeited in period (in shares) | 71,666 | ||
Outstanding at the end of the period (in shares) | 208,746 |
STOCK-BASED COMPENSATION - Acqu
STOCK-BASED COMPENSATION - Acquisition-related Consideration Holdback (Details) $ in Millions | 9 Months Ended |
Dec. 31, 2022 USD ($) | |
DataFleets, Ltd | |
Share-based compensation | |
Holdback expenses | $ 11.3 |
Holdback expenses, expected costs | 6 |
DataFleets, Ltd | Accrued Liabilities | |
Share-based compensation | |
Holdback expenses | 5.3 |
Data Plus Math Corporation | |
Share-based compensation | |
Holdback expenses | $ 24.4 |
STOCK-BASED COMPENSATION - Qual
STOCK-BASED COMPENSATION - Qualified Employee Stock Purchase Plan (Details) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Share-based compensation | ||
Future expense for performance stock option units | $ 176,107 | |
Employee stock purchase plan | ||
Share-based compensation | ||
Stock issued during period, ESPP (in shares) | 197,255 | |
Shares issued, price per share (in dollars per share) | $ 20.38 | |
Stock issued during period, ESPP, value | $ 4,000 | |
Share-based compensation expense | 1,527 | $ 1,282 |
Future expense for performance stock option units | $ 900 |
STOCK-BASED COMPENSATION - Pe_2
STOCK-BASED COMPENSATION - Performance Stock Option Unit Activity (Details) $ / shares in Units, $ in Thousands | 9 Months Ended |
Dec. 31, 2022 USD ($) $ / shares shares | |
Stock Option Activity - Number of Shares | |
Outstanding at beginning of the period (in shares) | shares | 730,004 |
Forfeited or cancelled (in shares) | shares | (2,690) |
Outstanding at end of the period (in shares) | shares | 528,751 |
Exercisable at the end of the period (in shares) | shares | 513,991 |
Weighted-average exercise price per share | |
Outstanding at the beginning of the period (in dollars per share) | $ / shares | $ 16.28 |
Forfeited or cancelled (in dollars per share) | $ / shares | 3.39 |
Outstanding at the end of the period (in dollars per share) | $ / shares | 18.26 |
Exercisable at the end of the period (in dollars per share) | $ / shares | $ 18.76 |
Weighted average remaining contractual term | 1 year 10 months 24 days |
Outstanding at the end of the period | $ | $ 2,736 |
Exercisable at the end of the period | $ | $ 2,403 |
OTHER CURRENT AND NONCURRENT _3
OTHER CURRENT AND NONCURRENT ASSETS - Schedule of Other Current and Noncurrent Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Mar. 31, 2022 |
Other current assets | ||
Prepaid expenses and other | $ 22,603 | $ 13,947 |
Certificates of deposit | 7,500 | 7,500 |
Assets of non-qualified retirement plan | 12,069 | 15,528 |
Other current assets | 42,172 | 36,975 |
Other noncurrent assets | ||
Long-term prepaid revenue share | 10,071 | 13,468 |
Right-of-use assets (see Note 4) | 34,953 | 59,459 |
Deferred tax asset | 1,159 | 1,224 |
Deposits | 3,539 | 4,486 |
Strategic investments | 2,494 | 5,700 |
Other miscellaneous noncurrent assets | 215 | 877 |
Other assets, net | $ 52,431 | $ 85,214 |
OTHER CURRENT AND NONCURRENT _4
OTHER CURRENT AND NONCURRENT ASSETS - Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended |
Dec. 31, 2022 | Dec. 31, 2022 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
Impairment losses on strategic investment | $ 4 | $ 4 |
PROPERTY AND EQUIPMENT - Schedu
PROPERTY AND EQUIPMENT - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Mar. 31, 2022 |
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $ 42,954 | $ 45,001 |
Less accumulated depreciation and amortization | 34,145 | 33,470 |
Property and equipment, net of accumulated depreciation and amortization | 8,809 | 11,531 |
Leasehold improvements | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 27,490 | 28,224 |
Data processing equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 7,545 | 7,001 |
Office furniture and other equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $ 7,919 | $ 9,776 |
PROPERTY AND EQUIPMENT - Narrat
PROPERTY AND EQUIPMENT - Narrative (Details) - USD ($) $ in Millions | 9 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | ||
Depreciation expense | $ 3.1 | $ 4.2 |
GOODWILL - (Details)
GOODWILL - (Details) $ in Thousands | 9 Months Ended |
Dec. 31, 2022 USD ($) | |
Goodwill | |
Goodwill at the beginning of year | $ 363,845 |
Change in foreign currency translation adjustment | (511) |
Goodwill at the end of year | 363,129 |
Diablo.AI, Inc. | |
Goodwill | |
Purchase price accounting adjustment related to acquisition of Diablo | $ (205) |
GOODWILL - Goodwill by Geograph
GOODWILL - Goodwill by Geography (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Mar. 31, 2022 |
Goodwill information | ||
Goodwill | $ 363,129 | $ 363,845 |
U.S. | ||
Goodwill information | ||
Goodwill | 360,073 | |
APAC | ||
Goodwill information | ||
Goodwill | $ 3,056 |
INTANGIBLE ASSETS - Amounts All
INTANGIBLE ASSETS - Amounts Allocated to Intangible Assets from Acquisitions (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Mar. 31, 2022 |
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | $ 167,335 | $ 167,436 |
Accumulated amortization | (154,132) | (140,718) |
Total finite-lived intangible assets, net | 13,203 | 26,718 |
Developed technology, gross | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | 84,055 | 84,146 |
Accumulated amortization | (73,691) | (67,980) |
Total finite-lived intangible assets, net | 10,364 | 16,166 |
Customer relationship/trade name, gross | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | 43,480 | 43,490 |
Accumulated amortization | (42,641) | (40,582) |
Total finite-lived intangible assets, net | 839 | 2,908 |
Publisher/data supply relationships, gross | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | 39,800 | 39,800 |
Accumulated amortization | (37,800) | (32,156) |
Total finite-lived intangible assets, net | $ 2,000 | $ 7,644 |
INTANGIBLE ASSETS - Narrative (
INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Millions | 9 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Amortization expense | $ 13.5 | $ 13.9 |
INTANGIBLE ASSETS - Estimated F
INTANGIBLE ASSETS - Estimated Future Amortization Expenses (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Mar. 31, 2022 |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ||
2023 | $ 3,343 | |
2024 | 6,839 | |
2025 | 3,021 | |
Total finite-lived intangible assets, net | $ 13,203 | $ 26,718 |
OTHER ACCRUED EXPENSES (Details
OTHER ACCRUED EXPENSES (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Mar. 31, 2022 |
Business Acquisition [Line Items] | ||
Liabilities of non-qualified retirement plan | $ 12,069 | $ 15,528 |
Short-term lease liabilities (see Note 4) | 10,467 | 8,984 |
Other miscellaneous accrued expenses | 12,954 | 10,864 |
Other accrued expenses | 42,394 | 46,067 |
Rakam Technology Asset Acquisition | ||
Business Acquisition [Line Items] | ||
Rakam consideration holdback | 223 | 223 |
Data Plus Math Corporation | ||
Business Acquisition [Line Items] | ||
Business combination, contingent consideration, liability, current | 0 | 6,092 |
Acuity Data | ||
Business Acquisition [Line Items] | ||
Business combination, contingent consideration, liability, current | 1,393 | 2,420 |
DataFleets, Ltd | ||
Business Acquisition [Line Items] | ||
Business combination, contingent consideration, liability, current | 5,288 | 756 |
Diablo.AI, Inc. | ||
Business Acquisition [Line Items] | ||
Business combination, contingent consideration, liability, current | $ 0 | $ 1,200 |
OTHER LIABILITIES (Details)
OTHER LIABILITIES (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Mar. 31, 2022 |
Other Liabilities Disclosure [Abstract] | ||
Uncertain tax positions | $ 28,047 | $ 24,374 |
Long-term lease liabilities (see Note 4) | 39,097 | 52,241 |
Restructuring accruals | 5,795 | 3,619 |
Other | 6,158 | 5,876 |
Other liabilities | $ 79,097 | $ 86,110 |
ALLOWANCE FOR CREDIT LOSSES - S
ALLOWANCE FOR CREDIT LOSSES - Summary of the Activity of the Allowance for Doubtful Accounts, Returns and Credits (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||
Balance at beginning of period | $ 9,961 | |
Additions charged to costs and expenses | 1,728 | $ 3,127 |
Other changes | 3 | |
Bad debts written off, net of amounts recovered | (1,651) | |
Balance at end of period | $ 10,041 |
RESTRUCTURING, IMPAIRMENT AND_3
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES - Summary of Restructuring Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Restructuring Reserve [Roll Forward] | ||||
Restructuring charges and adjustments | $ 6,385 | $ 0 | $ 10,086 | $ 0 |
Continuing operations | ||||
Restructuring Reserve [Roll Forward] | ||||
Restructuring Reserve, at the beginning of the period | 3,074 | |||
Restructuring charges and adjustments | 10,086 | |||
Payments | (2,975) | |||
Restructuring Reserve, at the end of the period | 10,185 | 10,185 | ||
Continuing operations | Employee-related reserves | ||||
Restructuring Reserve [Roll Forward] | ||||
Restructuring Reserve, at the beginning of the period | 47 | |||
Restructuring charges and adjustments | 7,449 | |||
Payments | (2,218) | |||
Restructuring Reserve, at the end of the period | 5,278 | 5,278 | ||
Continuing operations | Lease accruals | ||||
Restructuring Reserve [Roll Forward] | ||||
Restructuring Reserve, at the beginning of the period | 3,027 | |||
Restructuring charges and adjustments | 2,637 | |||
Payments | (757) | |||
Restructuring Reserve, at the end of the period | $ 4,907 | $ 4,907 |
RESTRUCTURING, IMPAIRMENT AND_4
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES - Narrative (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2022 USD ($) leasedOfficeSpace | Sep. 30, 2022 leasedOfficeSpace | Dec. 31, 2021 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges and adjustments | $ | $ 6,385 | $ 0 | $ 10,086 | $ 0 | |
Number of leased office space exited | leasedOfficeSpace | 3 | ||||
ROU asset group impairments | $ | $ 5,358 | $ 0 | 15,528 | $ 0 | |
Facility Closing | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges and adjustments | $ | 2,600 | ||||
Restructuring reserve | $ | 2,600 | 2,600 | |||
Facility Closing | Restructuring Activity 2017 | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges and adjustments | $ | 7,300 | ||||
Restructuring reserve | $ | 2,300 | 2,300 | |||
United States | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Number of leased office space exited | leasedOfficeSpace | 3 | ||||
United States | Employee Severance | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges and adjustments | $ | 7,400 | ||||
Restructuring reserve | $ | $ 5,300 | $ 5,300 | |||
MASSACHUSETTS | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Number of leased office space exited | leasedOfficeSpace | 1 | ||||
PENNSYLVANIA | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Number of leased office space exited | leasedOfficeSpace | 1 | ||||
CALIFORNIA | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Number of leased office space exited | leasedOfficeSpace | 1 | ||||
ARIZONA | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Number of leased office space exited | leasedOfficeSpace | 1 | ||||
NETHERLANDS | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Number of leased office space exited | leasedOfficeSpace | 1 | ||||
London, England | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Number of leased office space exited | leasedOfficeSpace | 1 |
RESTRUCTURING, IMPAIRMENT AND_5
RESTRUCTURING, IMPAIRMENT AND OTHER CHARGES - Gains, Losses and Other Items (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Restructuring and Related Activities [Abstract] | ||||
Restructuring plan charges and adjustments | $ 6,385 | $ 0 | $ 10,086 | $ 0 |
Early contract terminations | 0 | 0 | 0 | 1,042 |
ROU asset group impairments | 5,358 | 0 | 15,528 | 0 |
Other | 0 | 0 | (21) | 254 |
Total gains, losses and other items, net | $ 11,743 | $ 0 | $ 25,593 | $ 1,296 |
COMMITMENTS AND CONTINGENCIES -
COMMITMENTS AND CONTINGENCIES - Narrative (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Deferred tax liability not recognized, amount of unrecognized deferred tax liability, bad debt reserve for tax purposes of qualified lender | $ 28 |
COMMITMENTS AND CONTINGENCIES_2
COMMITMENTS AND CONTINGENCIES - (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
Purchase Obligation, Fiscal Year Maturity [Abstract] | |
2023 | $ 8,551 |
2024 | 32,288 |
2025 | 74,647 |
2026 | 70,301 |
2027 | 696 |
Total | $ 186,483 |
FAIR VALUE OF FINANCIAL INSTR_3
FAIR VALUE OF FINANCIAL INSTRUMENTS - Fair Value Measurements within the Fair Value Hierarchy (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Mar. 31, 2022 |
Fair value of assets and liabilities | ||
Assets of non-qualified retirement plan | $ 12,069 | $ 15,528 |
Fair value measurements on recurring basis | Estimate of Fair Value Measurement | ||
Fair value of assets and liabilities | ||
Assets of non-qualified retirement plan | 12,069 | 15,528 |
Total assets | 12,069 | 15,528 |
Fair value measurements on recurring basis | Estimate of Fair Value Measurement | Level 1 | ||
Fair value of assets and liabilities | ||
Assets of non-qualified retirement plan | 12,069 | 15,528 |
Total assets | 12,069 | 15,528 |
Fair value measurements on recurring basis | Estimate of Fair Value Measurement | Level 2 | ||
Fair value of assets and liabilities | ||
Assets of non-qualified retirement plan | 0 | 0 |
Total assets | 0 | 0 |
Fair value measurements on recurring basis | Estimate of Fair Value Measurement | Level 3 | ||
Fair value of assets and liabilities | ||
Assets of non-qualified retirement plan | 0 | 0 |
Total assets | $ 0 | $ 0 |
FAIR VALUE OF FINANCIAL INSTR_4
FAIR VALUE OF FINANCIAL INSTRUMENTS - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2022 | |
Fair Value Disclosures [Abstract] | ||||
Strategic investments without readily determinable fair values | $ 2,494 | $ 2,494 | $ 5,700 | |
Impairment losses on strategic investment | $ 4,000 | $ 4,000 | ||
Asset impairment charges | $ 0 |