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CASH, CASH EQUIVALENTS, MARKETABLE SECURITIES AND INVESTMENTS
 3 Months Ended
Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
CASH, CASH EQUIVALENTS, MARKETABLE SECURITIES AND INVESTMENTS CASH, CASH EQUIVALENTS, MARKETABLE SECURITIES AND INVESTMENTS
The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents and those investments with original maturities greater than three months to be marketable securities. Cash and cash equivalents mainly consisted of U.S. government and municipal obligations, commercial paper, money market instruments and cash maintained with various financial institutions at June 30, 2023 and March 31, 2023.
Marketable Securities
The following is a summary of marketable securities held by NetScout at June 30, 2023, classified as short-term and long-term (in thousands):
Amortized
Cost		Unrealized
Losses		Fair
Value
Type of security:
U.S. government and municipal obligations$16,751 $(55)$16,696 
Commercial paper23,159 — 23,159 
Certificates of deposit6,255 — 6,255 
Total short-term marketable securities46,165 (55)46,110 
U.S. government and municipal obligations5,943 (62)5,881 
Total long-term marketable securities5,943 (62)5,881 
Total marketable securities$52,108 $(117)$51,991 
The following is a summary of marketable securities held by NetScout at March 31, 2023, classified as short-term and long-term (in thousands):
Amortized
Cost		Unrealized
Gains (Losses)		Fair
Value
Type of security:
U.S. government and municipal obligations$8,796 $(1)$8,795 
Commercial paper19,136 — 19,136 
Corporate bonds310 — 310 
Certificates of deposit3,963 — 3,963 
Total short-term marketable securities32,205 (1)32,204 
U.S. government and municipal obligations8,915 25 8,940 
Total long-term marketable securities8,915 25 8,940 
Total marketable securities$41,120 $24 $41,144 
Contractual maturities of the Company's marketable securities held at June 30, 2023 and March 31, 2023 were as follows (in thousands):
June 30,
2023		March 31,
2023
Available-for-sale securities:
Due in 1 year or less$46,110 $32,204 
Due after 1 year through 5 years5,881 8,940 
$51,991 $41,144 
Investments
In February 2023, the Company entered into a forward share purchase agreement with Napatech A/S (Napatech), a publicly traded Danish company registered on the Oslo stock exchange, to purchase approximately 6.2 million shares of Napatech's common stock for $7.5 million. In April 2023, the Company settled the forward share purchase contract with Napatech in exchange for approximately 6.2 million shares of Napatech's common stock. As part of the agreement, the Company received the right to designate a representative to be nominated for election to the Napatech Board of Directors, which was approved by Napatech's Nomination Committee in April 2023. The Company accounts for this investment under the equity method and has elected to apply the fair value option to the investment. The Company records the investment at fair value at the end of each period based on the closing price of Napatech's stock and any change in fair value during the period is recorded in other income (expense), net within the Company's consolidated statement of operations. At June 30, 2023, the fair value of the investment in Napatech was $5.8 million and was included in short-term marketable securities and investments in the Company's consolidated balance sheet. During the three months ended June 30, 2023, the Company recognized a $0.4 million decrease in the fair value of the equity investment in Napatech in other income (expense), net within the Company's consolidated statement of operations. For the three months ended June 30, 2023, the unrealized losses related to foreign currency translation on the equity investment in Napatech was immaterial.