Segment Information

9 Months Ended

Dec. 31, 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 and nine months ended December 31, 2025 and 2024 are as follows:

	Three Months Ended December 31,				Nine Months Ended December 31,
(In thousands)	2025		2024		2025		2024
Net revenue:
Products	$	10,681	$	10,677	$	30,731	$	31,077
Subscription and maintenance		52,007		44,379		151,586		123,853
Professional services		17,702		14,505		54,049		46,422
Total net revenue		80,390		69,561		236,366		201,352
Cost of revenue (1)		12,684		11,277		38,080		32,242
Product development expenses (1)		17,223		15,183		50,163		44,963
Sales and marketing expenses (1)		8,745		8,477		29,757		23,711
Professional services expenses (1)		11,274		8,085		33,341		24,462
Customer support expenses (1)		4,119		3,662		11,894		10,817
General and administrative expenses (1)		9,196		8,277		27,354		26,235
Share-based compensation		5,769		4,218		15,798		12,656
Other segment items (2)		1,483		6,552		3,482		6,966
Net income	$	9,897	$	3,830	$	26,497	$	19,300

(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 December 31, 2025 and March 31, 2025:

(In thousands)	December 31, 2025		March 31, 2025
United States	$	16,019	$	18,618
India		12,878		14,150
Rest of world (1)		698		1,064
Total long-lived assets	$	29,595	$	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