Stock-Based Compensation (Tables)

12 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The following table summarizes stock option activity and related information for the periods presented:

	Number of Options	Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value (1) (in thousands)
Outstanding at March 31, 2022	2,879,008	$	4.88	6.02	$	6,747
Options granted	281,712	5.09
Options exercised	(168,326)	4.22
Options canceled	(83,190)	5.95
Outstanding at March 31, 2023	2,909,204	4.90		5.50	126
Exercisable at March 31, 2023	2,302,834	4.66		4.63	125
Outstanding at March 31, 2021	2,543,125	$	4.82	6.05	$	—
Options granted	528,077	6.31
Options exercised	(52,799)	4.19
Options canceled	(139,395)	9.52
Outstanding at March 31, 2022	2,879,008	4.88		6.02	6,747
Exercisable at March 31, 2022	2,206,259	4.44		4.99	5,984

(1) Intrinsic value represents the excess of the fair value on the last day of the period (which was $3.99 and $7.07 as of March 31, 2023 and 2022, respectively) over the exercise price, multiplied by the number of options.

Schedule of Valuation Assumptions

The assumptions used to value options granted to employees during the periods presented were as follows:

	Year Ended March 31,
	2023	2022
Weighted average expected life (in years)	5.68	5.87
Risk-free interest rate	3.24% - 3.75%	1.08% - 1.32%
Expected volatility	44.60% - 47.20%	42.50% - 43.80%
Grant date fair market value	$4.77 - $5.24	$6.34
Grant date fair value	$2.21 - $2.49	$1.94 - $3.32
Dividend yield	—%	—%

Schedule of Unvested Restricted Stock Units

The following table summarizes RSU activity and related information for the periods presented:

	Year Ended March 31,
	2023			2022
	Number of Shares	Weighted-Average Grant Date Fair Value Per Share		Number of Shares	Weighted-Average Grant Date Fair Value Per Share
Balance at beginning of period	954,775	$	4.61	935,397	$	3.96
Granted	333,585	5.16		342,640	6.31
Vested	(403,157)	5.93		(305,982)	3.98
Canceled	(69,181)	5.66		(17,280)	3.98
Balance at end of period	816,022	5.74		954,775	4.61

Schedule of Stock-Based Compensation Expense

The accompanying consolidated statement of operations includes stock-based compensation expense for the periods presented as follows (in thousands):

	Year Ended March 31,
	2023		2022
Cost of revenue	$	243	$	161
Research and development	528		552
Sales and marketing	268		190
General and administrative	2,160		1,711
Total	$	3,199	$	2,614

Schedule of Unrecognized Stock-Based Compensation

Unrecognized stock-based compensation expense as of dates presented was as follows (in thousands, except years):

	March 31,
	2023			2022
	Unrecognized Expense		Average Expected Recognition Period (in years)	Unrecognized Expense		Average Expected Recognition Period (in years)
Stock options	$	1,325	1.05	$	1,413	2.11
Restricted stock units	1,813		1.34	2,576		1.57
Total	$	3,138	1.22	$	3,989	1.76