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REVENUE (Tables)
 6 Months Ended 12 Months Ended
Sep. 30, 2024
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]    
Schedule of revenue from external customers by geographic areas  
In the following table, revenue is disaggregated by major product offering and geographies (in thousands):
Year Ended March 31,
2024%2023%2022%
RestatedRestated
Americas(1)
Product revenue
$92,907 $175,652 $130,248 
Service and subscription
71,317 77,581 82,927 
Total revenue164,224 53 %253,233 60 %213,175 55 %
EMEA
Product revenue
59,465 70,025 71,498 
Service and subscription
47,372 46,279 46,401 
Total revenue106,837 34 %116,304 28 %117,899 31 %
APAC
Product revenue
22,507 29,177 29,068 
Service and subscription
7,901 9,658 7,913 
Total revenue30,408 10 %38,835 9 %36,981 10 %
Consolidated
Product revenue
174,879 274,854 230,814 
Service and subscription
126,590 133,518 137,241 
Royalty(2)
10,131 3 %13,705 3 %15,377 4 %
Total revenue$311,600 100 %$422,077 100 %$383,432 100 %
__________________
(1)Revenue for Americas geographic region outside of the United States is not significant.
(2)Royalty revenue is not allocable to geographic regions.
Revenue by Solution
Year Ended March 31,
2024%2023%2022%
As restatedAs restated
Primary storage systems$53,525 17 %$63,334 15 %$67,592 18 %
Secondary storage systems100,599 32 %178,431 42 %118,537 31 %
Device and media33,477 11 %42,008 10 %49,959 13 %
Service 113,868 37 %124,599 30 %131,967 34 %
Royalty10,131 3 %13,705 3 %15,377 4 %
Total revenue(1)
$311,600 100 %$422,077 100 %$383,432 100 %
__________________
(1)Subscription revenue of $7.3 million, $5.6 million and $4.2 million allocated to Primary and Secondary storage systems for the fiscal years ended 2024, 2023 and 2022, respectively.
Schedule of deferred revenue, by arrangement
The following table presents the Company’s contract liabilities and certain information related to this balance as of March 31, 2024 and September 30, 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 
September 30, 2024
Deferred revenue$106,533 
Revenue recognized in the period from amounts included in contract liabilities at the beginning of the period$48,132 
The table below reflects the Company’s deferred revenue as of September 30, 2024 (in thousands):
Deferred revenue by period
Total1 year or less1 – 3 Years3 year or greater
Service revenue89,667 61,629 22,809 $5,229 
Subscription revenue$16,866 $7,740 $7,382 $1,744 
Total at September 30, 2024
$106,533 $69,369 $30,191 $6,973 
The following table presents the Company’s contract liabilities and certain information related to this balance as of March 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 
March 31, 2023
As Restated
Deferred revenue$115,302 
Revenue recognized in the period from amounts included in contract liabilities at the beginning of the period$83,113 
March 31, 2022
As Restated
Deferred revenue$126,916 
Revenue recognized in the period from amounts included in contract liabilities at the beginning of the period$86,731 
Schedule of remaining performance obligations
RPO consisted of the following (in thousands):
CurrentNon-CurrentTotal
As of September 30, 2024
$82,813 $39,617 $122,430 
Remaining performance obligations consisted of the following (in thousands):
CurrentNon-CurrentTotal
As of March 31, 2024$90,546 $40,895 $131,441 
Schedule of deferred revenue, by arrangement, disclosure   The table below reflects our deferred revenue as of March 31, 2024 (in thousands):
Deferred revenue by period
(in thousands)Total1 year or less1 – 3 Years3 year or greater
Service revenue$107,819 $74,332 $28,184 $5,303 
Subscription revenue8,868 4,180 3,686 1,002 
Total
$116,687 $78,512 $31,870 $6,305 
Revenue from External Customers by Geographic Areas
In the following table, revenue is disaggregated by major product offerings and geographies (in thousands):
Three Months Ended September 30,Six Months Ended September 30,
2024202320242023
Americas(1)
Product revenue
20,487 25,493 44,117 62,128 
Service and subscription
17,298 17,635 32,412 35,589 
Total revenue37,785 54 %43,128 57 %76,529 54 %97,717 58 %
EMEA
Product revenue
11,682 11,975 24,656 27,823 
Service and subscription
11,731 10,846 21,394 21,952 
Total revenue23,413 33 %22,821 30 %46,050 32 %49,775 30 %
APAC
Product revenue
4,616 5,479 9,006 11,571 
Service and subscription
2,292 2,024 4,962 3,917 
Total revenue6,908 10 %7,503 10 %13,968 10 %15,488 9 %
Consolidated
Product revenue
36,785 42,947 77,779 101,522 
Service and subscription
31,321 30,505 58,768 61,458 
Royalty(2)
2,363 3 %2,228 3 %5,265 4 %5,194 3 %
Total revenue$70,469 100 %$75,680 100 %$141,812 100 %$168,174 100 %
__________________
(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 September 30,Six Months Ended September 30,
2024%2023%2024%2023%
Primary storage systems$11,760 17 %$17,058 23 %$28,630 20 %$28,507 17 %
Secondary storage systems21,742 30 %20,340 27 %37,511 26 %61,912 36 %
Device and media7,430 11 %7,893 10 %16,679 12 %16,085 10 %
Service 27,174 39 %28,161 37 %53,727 38 %56,476 34 %
Royalty2,363 3 %2,228 3 %5,265 4 %5,194 3 %
Total revenue(1)
$70,469 100 %$75,680 100 %$141,812 100 %$168,174 100 %
__________________
(1)Subscription revenue of $4.1 million and $1.0 million was allocated to Primary and Secondary storage systems for the three months ended September 30, 2024 and 2023, respectively. Subscription revenue of $5.0 million and $2.5 million was allocated to Primary and Secondary storage systems for the six months ended September 30, 2024 and 2023, respectively.