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REVENUE
 9 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
Based 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 December 31,Nine Months Ended December 31,
2024202320242023
Americas1
   Product revenue18,294 16,159 62,410 78,287 
   Service and subscription16,563 18,282 48,975 53,871 
Total revenue34,857 48 %34,441 47 %111,385 52 %132,158 55 %
EMEA
   Product revenue15,235 14,786 39,892 42,609 
   Service and subscription12,077 12,282 33,471 34,234 
Total revenue27,312 38 %27,068 38 %73,363 34 %76,843 32 %
APAC
   Product revenue5,081 6,168 14,087 17,739 
   Service and subscription2,975 2,207 7,937 6,124 
Total revenue8,056 11 %8,375 12 %22,024 10 %23,863 10 %
Consolidated
   Product revenue38,610 37,113 116,389 138,635 
   Service and subscription31,615 32,771 90,383 94,229 
   Royalty2
2,326 3 %2,042 3 %7,592 4 %7,235 3 %
Total revenue$72,551 100 %$71,926 100 %$214,364 100 %$240,099 100 %

1 Revenue for the 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 December 31,Nine Months Ended December 31,
2024%2023%2024%2023%
Primary storage systems$12,404 17 %$12,887 18 %$41,034 19 %$41,394 17 %
Secondary storage systems23,276 33 %20,206 28 %60,787 28 %82,118 34 %
Device and media7,575 10 %7,716 11 %24,254 11 %23,801 10 %
Service 26,970 37 %29,075 40 %80,697 38 %85,551 36 %
Royalty2,326 3 %2,042 3 %7,592 4 %7,235 3 %
Total revenue1
$72,551 100 %$71,926 100 %$214,364 100 %$240,099 100 %

1 Subscription revenue of $4.6 million and $2.3 million was allocated to Primary and Secondary storage systems for the three months ended December 31, 2024 and 2023, respectively. Subscription revenue of $11.3 million and $4.8 million was allocated to Primary and Secondary storage systems for the nine months ended December 31, 2024 and 2023, respectively.
Contract Balances

The following table presents the Company’s contract liabilities and certain information related to this balance as of March 31, 2024 and December 31, 2024 (in thousands): 

March 31, 2024
Deferred revenue$116,687 
Revenue recognized in the period from amounts included in contract liabilities at the beginning of the period$76,304 
December 31, 2024
Deferred revenue$105,266 
Revenue recognized in the period from amounts included in contract liabilities at the beginning of the period$64,539 

Remaining Performance Obligations

Total remaining performance obligations (“RPO”) representing contracted but not recognized revenue was $122.6 million as of December 31, 2024. RPO consists of both deferred revenue and uninvoiced, non-cancelable contracts that are expected to be invoiced and recognized as revenue in future periods and excludes variable consideration related to sales-based royalties. Of the $122.6 million RPO at the end of the third quarter of fiscal 2025, $105.4 million was for invoiced deferred revenue and $17.2 million was for uninvoiced, non-cancelable contracts. The non-current portion of the RPO will be recognized over the next 13 to 60 months.

RPO consisted of the following (in thousands):
CurrentNon-CurrentTotal
As of December 31, 2024
$84,644 $37,929 $122,573 

Deferred revenue consists of amounts that have been invoiced but have not yet been recognized as revenue including performance obligations pertaining to subscription services. The table below reflects the Company’s deferred revenue as of December 31, 2024 (in thousands):
Deferred revenue by period
Total1 year or less1 – 3 Years3 year or greater
Service revenue84,624 60,782 21,815 $2,027 
Subscription revenue$20,642 $9,134 $8,773 $2,735 
Balance as of December 31, 2024$105,266 $69,916 $30,588 $4,762