Income Taxes (Tables)

12 Months Ended

Mar. 31, 2016

Income Tax Disclosure [Abstract]

Components of (Loss) Income Before Income Taxes

The components of (loss) income before income taxes are as follows (in thousands):

	Year Ended March 31,
	2016			2015			2014
Domestic	$	(67,988	)	$	(50,031	)	$	(40,237	)
Foreign		803			(203	)		12
Total	$	(67,185	)	$	(50,234	)	$	(40,225	)

Components of Provision (Benefit) for Income Taxes

The components of the provision (benefit) for income taxes for the fiscal years ended March 31, 2016 and 2015 are as follows (in thousands):

	Year Ended March 31,
	2016			2015
Current Provision:
Federal	$	—		$	—
State		93			—
Foreign		345			334
Total current provision		438			334
Deferred Provision:
Federal		(7	)		(8	)
State		—			—
Foreign		(129	)		(411	)
Total deferred provision		(136	)		(419	)
Total income tax provision (benefit)	$	302		$	(85	)

Schedule of Effective Federal Statutory Rate and Provision for Income Taxes

The items accounting for the difference between income taxes computed at the federal statutory rate and the provision for income taxes consist of the following:

	Year Ended March 31,
	2016			2015			2014
Federal statutory rate		34.0	%		34.0	%		34.0	%
Effect of:
State taxes, net of federal benefits		2.4			1.5			1.7
Stock-based compensation		(1.5	)		(4.5	)		(4.9	)
Research and development credit		3.5			1.8			1.9
Recognition of assets not previously recognized		2.9			—			—
Other		(0.3	)		—			—
Valuation allowance		(41.4	)		(32.6	)		(32.7	)
Effective tax rate		(0.5	%)		0.2	%		—	%

Schedule of Deferred Tax Assets and Liabilities

The following table presents the significant components of the Company’s deferred tax assets and liabilities for the periods presented (in thousands):

	As of March 31,
	2016			2015
Deferred tax assets:
Accrued expenses	$	2,950		$	2,345
Depreciation and amortization		1,677			1,290
Net operating loss carryforwards		62,909			38,837
Stock based compensation		4,645			3,312
Research and development credits		5,840			3,046
Gross deferred tax assets		78,021			48,830
Valuation allowance		(72,528	)		(43,710	)
Total deferred tax assets		5,493			5,120
Deferred tax liabilities:
Prepaids		(1,402	)		(1,026	)
Intangibles		(25	)		(85	)
Capitalized research and development		(4,103	)		(4,088	)
Total deferred tax liabilities		(5,440	)		(5,199	)
Total net deferred tax assets (liabilities)	$	53		$	(79	)

Schedule of Unrecognized Tax Benefits Reconciliation

A reconciliation of the beginning and ending amount of unrecognized tax benefits was as follows (in thousands):

Balance at March 31, 2013	$	597
Additions based on tax positions taken during the current period		367
Additions based on tax positions taken during the prior period		46
Reductions based on tax positions taken during the prior period		(275	)
Balance at March 31, 2014		735
Additions based on tax positions taken during the current period		1,009
Additions based on tax positions taken during the prior period		84
Reductions based on tax positions taken during the prior period		(2	)
Balance at March 31, 2015		1,826
Additions based on tax positions taken during the current period		1,414
Additions based on tax positions taken during the prior period		249
Reductions based on tax positions taken during the prior period		—
Balance at March 31, 2016	$	3,489