Revenue Recognition

9 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition

Disaggregation of revenue

The following table is a summary of the Company’s total revenues by geographic region (in thousands, except percentages):

	Three Months Ended December 31,								Nine Months Ended December 31,
	2021				2020				2021				2020
	Amount		%		Amount		%		Amount		%		Amount		%
North America	$	133,704	55	%	$	100,918	55	%	$	370,368	55	%	$	281,806	56	%
Europe, Middle East and Africa	71,102		30	%	55,945		31	%	207,493		31	%	154,868		30	%
Asia Pacific	24,927		10	%	20,643		11	%	71,002		10	%	56,854		11	%
Latin America	11,033		5	%	5,405		3	%	27,997		4	%	13,477		3	%
Total revenue	$	240,766			$	182,911			$	676,860			$	507,005

For the three and nine months ended December 31, 2021 and 2020, the United States was the only country that represented more than 10% of the Company’s revenues in any period, constituting $124.3 million and 52% and $94.2 million and 51% of total revenue during the three months ended December 31, 2021 and 2020, respectively, and $343.9 million and 51% and $263.3 million and 52% of total revenue for the nine months ended December 31, 2021 and 2020, respectively.

Deferred revenue

Revenues recognized during the three months ended December 31, 2021 and 2020, which was included in the deferred revenue balances at the beginning of each respective period, was $110.6 million and $87.1 million, respectively. Revenues recognized during the nine months ended December 31, 2021 and 2020 which was included in the deferred revenue balances at the beginning of each respective period, was $447.2 million and $339.5 million, respectively.

Remaining performance obligations

As of December 31, 2021, the aggregate amount of the transaction price allocated to remaining performance obligations was $1,402.0 million, which consists of both billed consideration in the amount of $594.0 million and unbilled consideration in the amount of $808.0 million that the Company expects to recognize as subscription and service revenue. The Company expects to recognize 57% of this amount as revenue over the next twelve months and the remainder thereafter.