REVENUE

3 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

REVENUE

REVENUEBased on how the Company manages its business, the Company has determined that it currently operates in one reportable segment. The Company operates in three geographic regions: (a) Americas; (b) Europe, Middle East and

Africa (“EMEA”); and (c) Asia Pacific (“APAC”). Revenue by geography is based on the location of the customer from which the revenue is earned.

In the following table, revenue is disaggregated by major product offerings and geographies (in thousands):

	Three Months Ended June 30,
	2023				2022
Americas1
Product revenue	36,629				39,105
Service and subscription	18,394				20,145
Total revenue	55,023		61	%	59,250		60	%
EMEA
Product revenue	15,102				15,753
Service and subscription	10,926				11,017
Total revenue	26,028		28	%	26,770		28	%
APAC
Product revenue	5,716				5,353
Service and subscription	2,055				2,261
Total revenue	7,771		8	%	7,614		8	%
Consolidated
Product revenue	57,447				60,211
Service and subscription	31,375				33,423
Royalty2	2,965		3	%	3,440		4	%
Total revenue	$	91,787	100	%	$	97,074	100	%

1 Revenue for Americas geographic region outside of the United States is not significant.

2 Royalty revenue is not allocatable to geographic regions.

Revenue by Solution

	Three Months Ended June 30,
	2023	%		2022	%
Primary storage systems	11,111	12	%	16,743	17	%
Secondary storage systems	40,626	45	%	33,451	34	%
Device and media	8,348	9	%	11,616	12	%
Service	28,737	31	%	31,824	33	%
Royalty	2,965	3	%	3,440	4	%
Total revenue1	91,787	100	%	97,074	100	%

1 Subscription revenue of $2.6 million and $1.6 million was allocated to Primary and Secondary storage systems for the quarters ended June 30, 2023 and 2022, respectively.

Contract Balances

The following table presents the Company’s contract liabilities and certain information related to this balance as of and for the three months ended June 30, 2023 (in thousands): 

	June 30, 2023
Contract liabilities (deferred revenue)	$	123,589
Revenue recognized in the period from amounts included in contract liabilities at the beginning of the period	26,919

Remaining Performance Obligations

Remaining performance obligations consisted of the following (in thousands):

	Current		Non-Current		Total
As of June 30, 2023	$	95,299	$	46,032	$	141,331

The table below reflects our deferred revenue as of June 30, 2023 (in thousands):

	Deferred revenue by period
(in thousands)	Total		1 year or less		1 – 3 Years		3 year or greater
Subscription revenue	$	14,800	$	6,936	$	7,160	$	704
Service revenue	108,789		72,749		33,973		$	2,067
Total	$	123,589	$	79,685	$	41,133	$	2,771

The Company's non-current remaining performance obligations are expected to be recognized in the next 13 to 60 months.