REVENUE

9 Months Ended

Dec. 31, 2025

Revenue from Contract with Customer [Abstract]

REVENUE

REVENUE

Contract Balances

As of December 31, 2025, March 31, 2025 and March 31, 2024, the Company’s contract assets related to performance obligations completed in advance of the right to invoice and are included in other current asset in the condensed consolidated balance sheets. Contract assets were not material as of December 31, 2025, March 31, 2025 and March 31, 2024. As of March 31, 2024, accounts receivable totaled $67.8 million.

Deferred revenue primarily consists of amounts that have been invoiced, which are typically with net 45-day payment terms, but have not yet been recognized as revenue and performance obligations pertaining to service and subscription contracts.

The following table presents the changes in the Company’s deferred revenue for the periods indicated (in thousands):

	Three Months Ended December 31,				Nine Months Ended December 31,
	2025		2024		2025		2024
Beginning balance	$	101,902	$	104,234	$	113,923	$	116,687
Additions	32,944		30,323		71,486		74,786
Recognition of deferred revenue	(26,520)		(27,724)		(77,083)		(84,640)
Ending balance	$	108,326	$	106,833	$	108,326	$	106,833
Short-term deferred revenue	$	74,917	$	66,762	$	74,917	$	66,762
Long-term deferred revenue	$	33,409	$	40,071	$	33,409	$	40,071

Remaining Performance Obligations

Total remaining performance obligations (“RPO”) representing contracted but not recognized revenue was $138.6 million as of December 31, 2025. 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.

RPO consisted of the following (in thousands):

	Current		Non-Current		Total
As of December 31, 2025	$	102,884	$	35,671	$	138,555