XML 47 R29.htm IDEA: XBRL DOCUMENT v3.21.1
STOCK-BASED COMPENSATION AND STOCKHOLDERS' EQUITY (Tables)
12 Months Ended
Mar. 31, 2021
Equity [Abstract]  
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs
The following table presents stock-based compensation expense:
 Years Ended March 31,
 202120202019
Cost of service revenue$8,811 $5,330 $3,752 
Cost of other revenue4,384 3,051 1,775 
Research and development31,641 19,712 12,313 
Sales and marketing33,869 20,205 11,951 
General and administrative28,933 22,580 14,717 
Total$107,638 $70,878 $44,508 
Disclosure Of Share-Based Compensation Arrangements By Share-Based Payment Award
The following table presents the stock option activity during the years ended March 31, 2021, 2020, and 2019 (shares in thousands):
Number of
Shares
Weighted Average Exercise Price Per Share
Outstanding at March 31, 20183,998 $8.93 
Granted 237 21.65 
Exercised(760)7.70 
Canceled/Forfeited(361)15.41 
Outstanding at March 31, 20193,114 9.45 
Exercised(785)8.77 
Canceled/Forfeited(55)17.01 
Outstanding at March 31, 20202,274 9.50 
Exercised(426)8.67 
Canceled/Forfeited(35)22.05 
Outstanding at March 31, 20211,813 9.46 
Vested and expected to vest March 31, 20211,809 9.43 
Exercisable at March 31, 20211,751 $9.09 
The following table presents the stock purchase rights' activity during the years ended March 31, 2021, 2020, and 2019 (shares in thousands):
Number of
Shares
Weighted
Average Grant
Date Fair Value
Weighted Average
Remaining Contractual
Term (in Years)
Balance at March 31, 20184,975 $8.10 1.09
Vested and released(4,625)7.88 
Forfeited(350)7.88 
Balance at March 31, 2019, 2020, and 2021— $— 
The following table presents the RSU activity during the years ended March 31, 2021, 2020, and 2019 (shares in thousands):
Number of
Shares
Weighted
Average Grant
Date Fair Value
Weighted Average
Remaining Contractual
Term (in Years)
Balance at March 31, 20185,006 $13.05 
Granted5,061 19.80 
Vested and released(1,899)12.69 
Forfeited(1,332)16.62 
Balance at March 31, 20196,836 17.45 2.38
Granted5,592 20.50 
Vested and released(2,771)16.87 
Forfeited(1,545)19.13 
Balance at March 31, 20208,112 19.43 1.96
Granted6,256 18.73 
Vested and released(4,579)18.90 
Forfeited(1,143)18.96 
Balance at March 31, 20218,646 $19.27 1.85
The following table presents the PSU activity during the years ended March 31, 2021, 2020, and 2019 (shares in thousands):
Number of
Shares
Weighted
Average Grant
Date Fair Value
Weighted Average
Remaining Contractual
Term (in Years)
Balance at March 31, 2018924 $15.95 
Granted474 19.52 
Granted for performance achievement1
192 19.52 
Vested and released(506)13.47 
Forfeited(100)19.94 
Balance at March 31, 2019984 19.23 1.39
Granted293 21.40 
Granted for performance achievement1
547 21.40 
Vested and released(673)17.61 
Forfeited(72)17.52 
Balance at March 31, 20201,079 22.05 1.40
Granted1,013 29.00 
Granted for performance achievement1
43 29.00 
Vested and released(350)19.05 
Forfeited(209)22.38 
Balance at March 31, 20211,576 $27.33 1.24
1 Represents additional PSUs awarded as a result of the achievement of performance goals above the performance targets established at grant.
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The fair value of each of the Company's option grants has been estimated on the date of grant using the Black-Scholes pricing model with the following assumptions:
 Years Ended March 31,
 202120202019
Expected volatility—%—%41%
Risk-free interest rate
2.5% to 3.0%
Weighted average expected term (in years)004.5 years
Weighted average fair value of options granted$—$—$8.19
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions
The estimated fair value of stock purchase rights granted under the Employee Stock Purchase Plan was estimated using the Black-Scholes pricing model with the following weighted-average assumptions:
 Years Ended March 31,
 202120202019
Expected volatility84%32%41%
Expected dividend yield
Risk-free interest rate0.11%1.79%2.43%
Weighted average expected term (in years)0.7 years0.7 years0.8 years
Weighted average fair value of rights granted$8.00$5.66$5.74