REVENUE RECOGNITION

9 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

REVENUE RECOGNITION

Disaggregation of Revenue

The Company disaggregates its revenue by geographic region. See Note 12, Geographical Information.

Contract Balances

The following table provides amounts of contract assets and deferred revenue from contracts with customers (in thousands):

	December 31, 2024		March 31, 2024
Contract assets, current (component of Other current assets)	$	6,824	$	9,453
Contract assets, non-current (component of Other assets)	8,152		7,879
Deferred revenue, current	33,394		34,325
Deferred revenue, non-current	5,960		7,810

Contract assets are recorded for contract consideration not yet invoiced but for which the performance obligations are completed. Contract assets, net of allowances for credit losses, are included in other current assets or other assets in the Company's consolidated balance sheets, depending on if their reduction will be recognized during the succeeding twelve-month period or beyond. The allowance applied to our contract assets as of March 31, 2024 and 2023 and the activity in this account, including the current-period provision for expected credit losses for the nine months ended December 31, 2024 and 2023, were not material. Contract assets are transferred to accounts receivable when the right to invoice becomes unconditional.

During the nine months ended December 31, 2024 and 2023, the Company recognized revenues of approximately $32.3 million and $35.1 million that were included in deferred revenue at the beginning of the fiscal year, respectively.

Remaining Performance Obligations

The Company's subscription terms typically range from one to five years. Contract revenue from the remaining performance obligations that had not yet been recognized as of December 31, 2024 was approximately $800.0 million. This amount excludes contracts with an original expected length of less than one year. The Company expects to recognize revenue on approximately 82% of the remaining performance obligations over the next 24 months and approximately 18% over the remainder of the subscription period.

Deferred Sales Commission Costs

Amortization of deferred sales commission costs for the three months ended December 31, 2024 and 2023 was approximately $9.3 million and $10.1 million, respectively, and $29.0 million and $30.2 million during the nine months ended December 31, 2024 and 2023, respectively.