Restructuring

3 Months Ended

Jun. 30, 2023

Restructuring and Related Activities [Abstract]

Restructuring

Restructuring

During the second quarter of fiscal year 2023, the Company initiated a restructuring plan to realign its business group and engineering structure with its go-to-market strategy to more effectively compete within the enterprise market and to better serve end-users. During the fourth quarter of fiscal year 2023, the Company undertook further

actions to remove organization layers as well as streamline its marketing organization to increase efficiency. These actions resulted in charges related to employee severance and other termination benefits as well as contract termination and other costs. The Company expects to substantially complete these restructuring activities within the next nine months.

The following table summarizes restructuring-related activities during the three months ended June 30, 2023 (in thousands):

	Termination Benefits		Contract Termination and Other		Total
Accrued restructuring liability at March 31, 2023 (1)	$	14,177	$	5,357	$	19,534
Charges, net	3,475		36		3,511
Cash payments	(14,941)		(205)		(15,146)
Accrued restructuring liability at June 30, 2023 (1)	$	2,711	$	5,188	$	7,899

(1) The accrual balances are included in accrued and other current liabilities on the Company’s condensed consolidated balance sheets.