Equity Incentive Plans and Stock-Based Compensation (Tables)

9 Months Ended

Dec. 31, 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		4,798,281		$	4.69
Exercised		(3,945,200	)	$	3.49
Cancelled/Forfeited/Expired		(1,977,617	)	$	4.80
Balance as of December 31, 2021		66,252,927		$	4.14			6.5	$	175,006
Vested and exercisable as of December 31, 2021		42,160,416		$	3.68			5.7	$	125,733

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 December 31,												Nine Months Ended December 31,
	2021						2020						2021						2020
	Min			Max			Min			Max			Min			Max			Min			Max
Expected term (years)		3.3			6.1			6.0			6.0			3.3			6.1			6.0			6.1
Expected volatility		72	%		72	%		65	%		65	%		72	%		73	%		65	%		68	%
Risk-free interest rate		1.2	%		1.4	%		0.4	%		0.4	%		1.0	%		1.4	%		0.3	%		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		9,828,944		$	10.91
Vested		—			—
Cancelled/forfeited		(127,861	)	$	10.55
Balance as of December 31, 2021		9,701,083		$	10.92
Expected to vest, December 31, 2021		9,701,083		$	10.92

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 December 31,				Nine Months Ended December 31,
	2021		2020		2021		2020
	(in thousands)				(in thousands)
Cost of revenue	$	1,098	$	236	$	2,841	$	596
Research and development		7,697		6,774		18,754		15,460
Sales and marketing		1,178		1,149		2,941		3,017
General and administrative		7,436		6,836		12,937		16,423
Total stock-based compensation expense	$	17,409	$	14,995	$	37,473	$	35,496