REVENUES

12 Months Ended

Mar. 31, 2024

REVENUES [Abstract]

REVENUES

3. REVENUES

CONTRACT BALANCES

Accounts receivable – trade consists entirely of amounts due from contracts with customers. In addition, we had $44.6 million, $70.4 million, and $47.5 million of receivables from contracts with customers included within financing receivables as of March 31, 2024, 2023, and 2022, respectively. The following table provides the balance of contract liabilities from contracts with customers (in thousands):

	March 31,
	2024		2023		2022
Current (included in deferred revenue)	$	134,110	$	113,713	$	85,826
Non-current (included in other liabilities)	$	68,174	$	47,217	$	30,086

Revenue recognized from the beginning contract liability balance was $86.0 million and $70.3 million for the fiscal years ended March 31, 2024, and 2023, respectively.

PERFORMANCE OBLIGATIONS

The following table includes revenue expected to be recognized in the future related to performance obligations, primarily non-cancelable contracts for ePlus managed services, that are unsatisfied or partially unsatisfied at the end of the reporting period (in thousands):

Year ending March 31, 2025	$	82,522
2026		37,322
2027		20,290
2028		6,535
2029 and thereafter		3,094
Total remaining performance obligations	$	149,763

The table does not include the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts where we recognize revenue at the amount that we have the right to invoice for services performed.