| REVENUE |
REVENUE Based on how the Company manages its business, the Company has determined that it currently operates in one reportable segment. The Company operates in three geographic regions: (a) Americas; (b) Europe, Middle East and Africa (“EMEA”); and (c) Asia Pacific (“APAC”). Revenue by geography is based on the location of the customer from which the revenue is earned.
In the following table, revenue is disaggregated by major product offerings and geographies (in thousands):
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Three Months Ended December 31, |
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Nine Months Ended December 31, |
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2022 |
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2021 |
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2022 |
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2021 |
Americas1
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| Primary storage systems |
$ |
10,668 |
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$ |
8,768 |
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$ |
28,921 |
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$ |
27,228 |
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| Secondary storage systems |
35,085 |
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15,060 |
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88,821 |
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43,946 |
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| Device and media |
4,107 |
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7,737 |
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13,773 |
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19,527 |
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| Service and subscription |
19,756 |
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19,470 |
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59,319 |
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61,003 |
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| Total revenue |
69,616 |
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51,035 |
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190,834 |
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151,704 |
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| EMEA |
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| Primary storage systems |
2,332 |
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3,305 |
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7,078 |
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10,325 |
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| Secondary storage systems |
10,096 |
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10,377 |
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25,380 |
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27,856 |
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| Device and media |
6,029 |
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5,125 |
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14,794 |
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15,018 |
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| Service and subscription |
10,989 |
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11,606 |
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32,748 |
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33,454 |
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| Total revenue |
29,446 |
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30,413 |
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80,000 |
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86,653 |
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| APAC |
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| Primary storage systems |
974 |
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1,718 |
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3,376 |
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4,234 |
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| Secondary storage systems |
5,541 |
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5,193 |
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13,651 |
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13,291 |
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| Device and media |
588 |
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1,239 |
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2,803 |
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3,883 |
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| Service and subscription |
2,205 |
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2,086 |
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6,999 |
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5,895 |
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| Total revenue |
9,308 |
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10,236 |
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26,829 |
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27,303 |
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| Consolidated |
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| Primary storage systems |
13,974 |
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13,791 |
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39,375 |
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41,787 |
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| Secondary storage systems |
50,722 |
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30,630 |
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127,852 |
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85,093 |
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| Device and media |
10,724 |
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14,101 |
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31,370 |
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38,428 |
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| Service and subscription |
32,950 |
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33,162 |
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99,066 |
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100,352 |
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Royalty2
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2,826 |
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3,660 |
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9,744 |
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11,963 |
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| Total revenue |
$ |
111,196 |
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$ |
95,344 |
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$ |
307,407 |
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$ |
277,623 |
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1 Revenue for Americas geographic region outside of the United States is not significant.
2 Royalty revenue is not allocatable to geographic regions.
Contract Balances
The following table presents the Company’s contract liabilities and certain information related to this balance as of and for the nine months ended December 31, 2022 (in thousands):
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December 31, 2022 |
| Contract liabilities (deferred revenue) |
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$ |
113,745 |
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| Revenue recognized in the period from amounts included in contract liabilities at the beginning of the period |
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71,669 |
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Remaining Performance Obligations
Remaining performance obligations consisted of the following (in thousands):
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Current |
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Non-Current |
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Total |
As of December 31, 2022 |
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$ |
105,981 |
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$ |
42,645 |
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$ |
148,626 |
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The Company's non-current remaining performance obligations are expected to be recognized in the next 13 to 60 months.
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