REVENUE

12 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

REVENUE

REVENUE

In the following table, revenue is disaggregated by major product offering and geographies (in thousands):

	Year Ended March 31,
	2023	%		2022	%		2021	%
Americas1
Product revenue	172,332			124,952			118,653
Service and subscription	77,863			81,608			76,039
Total revenue	250,195	61	%	206,560	55	%	194,692	56	%
EMEA
Product revenue	67,485			70,730			67,509
Service and subscription	44,675			44,187			41,261
Total revenue	112,160	27	%	114,917	31	%	108,770	31	%
APAC
Product revenue	26,720			28,079			23,646
Service and subscription	9,972			7,894			7,604
Total revenue	36,692	9	%	35,973	10	%	31,250	9	%
Consolidated
Product revenue	266,537			223,761			209,808
Service and subscription	132,510			133,689			124,904
Royalty2	13,705	3	%	15,377	4	%	14,864	4	%
Total revenue	412,752	100	%	372,827	100	%	349,576	100	%

1 Revenue for Americas geographic region outside of the United States is not significant.

2 Royalty revenue is not allocable to geographic regions.

Revenue by Solution

	Year Ended March 31,
	2023	%		2022	%		2021	%
Primary storage systems	57,578	14	%	60,697	16	%	70,286	20	%
Secondary storage systems	175,508	43	%	118,310	32	%	89,000	25	%
Device and media	42,371	10	%	50,030	13	%	51,164	15	%
Service	123,590	30	%	128,413	35	%	124,262	36	%
Royalty	13,705	3	%	15,377	4	%	14,864	4	%
Total revenue1	412,752	100	%	372,827	100	%	349,576	100	%

1 Subscription revenue of $8.9 million, $5.3 million and $0.6 million allocated to Primary and Secondary storage systems for the fiscal years ended 2023, 2022 and 2021, respectively.

Contract Balances

The following table presents the Company’s contract liabilities and certain information related to this balance as of March 31, 2023 (in thousands): 

	March 31, 2023
Deferred revenue	$	125,810
Revenue recognized in the period from amounts included in contract liabilities at the beginning of the period	$	82,609

Remaining Performance Obligations

Remaining performance obligations consisted of the following (in thousands):

	Current		Non-Current		Total
As of March 31, 2023	$	95,584	$	44,579	$	140,163

The table below reflects our deferred revenue as of March 31, 2023 (in thousands):

	Deferred revenue by period
(in thousands)	Total		1 year or less		1 – 3 Years		3 year or greater
Service revenue	$	111,041	$	75,211	$	33,750	$	2,080
Subscription revenue	14,769		7,293		6,648		828
Total	$	125,810	$	82,504	$	40,398	$	2,908

The Company expects to recognize approximately 68.2% of the remaining performance obligations within the next 12 months. The majority of the Company’s noncurrent remaining performance obligations is expected to be recognized in the next 13 to 60 months.