Equity Incentive Plans and Stock-Based Compensation (Tables)

6 Months Ended

Sep. 30, 2021

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Summary of Stock Option Activity and Activity Regarding Shares Available for Grant

Stock option activity and activity regarding shares available for grant under the 2021 Plan is as follows:

	Options Outstanding
	Outstanding Stock Options			Weighted-Average Exercise Price			Weighted-Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value
	(in thousands, except share, years, and per share data)
Balance as of March 31, 2021		29,375,026		$	9.37		7.1		$	403,498
Recapitalization		38,002,437		$	(5.28	)
Balance as of March 31, 2021		67,377,463		$	4.09
Granted		98,832		$	8.20
Exercised		(1,555,196	)	$	3.51
Cancelled/Forfeited/Expired		(1,219,918	)	$	4.91
Balance as of September 30, 2021		64,701,181		$	4.09			6.6	$	321,468
Vested and exercisable as of September 30, 2021		41,966,104		$	3.59			5.7	$	229,424

Schedule of Assumptions Used in the Black-Scholes Option-Pricing Model

The Black-Scholes assumptions used to value stock options at the grant dates are as follows:

	Three Months Ended September 30,												Six Months Ended September 30,
	2021						2020						2021						2020
	Min			Max			Min			Max			Min			Max			Min			Max
Expected term (years)		6.0			6.0			4.0			6.1			6.0			6.0			4.0			6.1
Expected volatility		73	%		73	%		65	%		68	%		73	%		73	%		65	%		68	%
Risk-free interest rate		1.0	%		1.0	%		0.2	%		0.4	%		1.0	%		1.0	%		0.2	%		0.5	%
Expected dividend yield	—			—			—			—			—			—			—			—

Summary of Restricted Stock Awards Activity under the Equity Incentive Plan

The following table summarizes the RSU activity under the equity incentive plans and related information:

	RSUs
	Unvested RSUs		Weighted-Average Grant Date Fair Value Per Share
Balance as of March 31, 2021		—		—
Granted		3,537,876	$	9.72
Vested		—		—
Cancelled/forfeited		26,376	$	10.08
Balance as of September 30, 2021		3,511,500	$	9.71
Expected to vest, September 30, 2021		3,511,500	$	9.71

Schedule of Share Based Compensation Costs

The total share-based compensation expense related to stock options and RSUs by line item in the accompanying unaudited condensed consolidated statements of operations is summarized as follows:

	Three Months Ended September 30,				Six Months Ended September 30,
	2021		2020		2021		2020
	(in thousands)				(in thousands)
Cost of revenue	$	945	$	181	$	1,743	$	360
Research and development		5,450		4,486		11,057		8,685
Sales and marketing		860		1,039		1,763		1,868
General and administrative		3,172		5,095		5,501		9,589
Total stock-based compensation expense	$	10,427	$	10,801	$	20,064	$	20,502

Secondary Sale Transaction [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Share Based Compensation Costs

Total stock-based compensation expense related to the secondary sale transactions by line item in the accompanying unaudited condensed consolidated statements of operations is summarized as follows:
 

	Three Months Ended September 30,				Six Months Ended September 30,
	2021		2020		2021		2020
	(in thousands)				(in thousands)
Cost of revenue	$	—	$	2	$	—	$	2
Research and development		—		44		—		44
Sales and marketing		—		9		—		9
General and administrative		—		10		—		1,670
Total stock-based compensation expense	$	—	$	65	$	—	$	1,725