Segment Information

3 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Segment Information

10. Segment Information

Operating segments represent components of an entity for which discrete financial information is available to the entity’s chief operating decision maker (“CODM”). Our Chief Executive Officer is our CODM.

We operate as a single reporting segment providing software solutions to the global hospitality industry as our CODM reviews the financial information presented on a consolidated basis to allocate resources, assess financial performance, and make operating decisions. During our budgeting and forecasting process, our CODM allocates resources including employees, equipment and financial resources. Our CODM regularly considers forecast-to-actual variances to assess financial performance and to make operating decisions around product development, pricing, employee compensation, and for investments in information security and technology infrastructure, and in market development. The Company’s measure of segment profit or loss is net income as shown in our condensed consolidated statements of operations.

Our CODM reviews segment assets, reported as total assets on our condensed consolidated balance sheets, and capital expenditures, as reported on our condensed consolidated statements of cash flows.

The segment accounting policies are the same as those we describe in Note 2, Summary of Significant Accounting Policies, except that certain expense allocations we make for presentation of cost of goods sold as reported in our condensed consolidated statements of operations in accordance with U.S. GAAP, primarily for employee compensation, are not applied to cost of revenue as reported in the table below.

The significant expense categories and consolidated net income provided to the CODM for the three months ended June 30, 2025 and 2024 are as follows:

	Three Months Ended June 30,
(In thousands)	2025		2024
Net revenue:
Products	$	9,954	$	9,874
Subscription and maintenance		48,623		38,043
Professional services		18,098		15,595
Total net revenue		76,675		63,512
Cost of revenue (1)		12,503		10,300
Product development expenses (1)		16,304		14,035
Sales and marketing expenses (1)		11,457		6,683
Professional services expenses (1)		10,761		7,814
Customer support expenses (1)		3,834		3,398
General and administrative expenses (1)		9,452		9,162
Share-based compensation		5,029		4,429
Other segment items (2)		2,445		(6,415	)
Net income	$	4,890	$	14,106

(1)	Exclusive of share-based compensation shown separately
(2)	Other segment items include depreciation, amortization of internal-use software and intangibles, legal settlements, interest income and expense, other non-operating income and expense, income tax benefit, and other charges

The following table lists long-lived assets by geographical area, which includes property and equipment, net and operating lease right-of-use assets as of June 30, 2025 and March 31, 2025:

(In thousands)	June 30, 2025		March 31, 2025
United States	$	17,715	$	18,618
India		13,741		14,150
Rest of world (1)		898		1,064
Total long-lived assets	$	32,354	$	33,832

(1) No individual country other than the United States and India exceeded 10% of our total long-lived assets for any period presented