Segment Information

12 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Segment Information

14. 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 Consolidated Statements of Operations.

Our CODM reviews segment assets, reported as total assets on our Consolidated Balance Sheets, and capital expenditures, as reported in our 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 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 years ended March 31, 2026, 2025, and 2024 are as follows:

	Year Ended March 31,
(In thousands)	2026		2025		2024
Net revenue:
Products	$	41,168	$	41,324	$	49,083
Subscription and maintenance		205,941		170,051		138,069
Professional services		72,203		64,249		50,312
Total net revenue		319,312		275,624		237,464
Cost of revenue (1)		50,269		46,016		46,183
Product development expenses (1)		66,192		60,177		53,825
Sales and marketing expenses (1)		38,486		31,491		27,588
Professional services expenses (1)		44,420		34,130		28,611
Customer support expenses (1)		15,998		14,604		13,120
General and administrative expenses (1)		36,290		35,336		30,862
Share-based compensation		21,818		17,777		14,113
Other segment items (2)		7,048		12,868		(63,033	)
Net income	$	38,791	$	23,225	$	86,195

(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 provision and benefit, and other gains and charges

For the fiscal years 2026, 2025 and 2024, revenue from external customers attributed to the U.S. was 87%, 87% and 90%, respectively of total revenue. Revenue from external customers attributed to any individual foreign country is immaterial. We attribute revenue from external customers based on their ship to location. Our customer base is highly fragmented.

The following table lists long-lived assets by geographical area, which includes property and equipment, net and operating lease right-of-use assets for the years ended March 31, 2026, 2025, and 2024:

	Year Ended March 31,
(In thousands)	2026		2025		2024
United States	$	15,327	$	18,618	$	20,583
India		11,727		14,150		14,917
Rest of world (1)		719		1,064		814
Total long-lived assets	$	27,773	$	33,832	$	36,314

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