Schedule of Revenue from External Customers by Geographic Areas |
In the following table, revenue is disaggregated by major product offerings and geographies (in thousands):
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Three Months Ended September 30, |
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Six Months Ended September 30, |
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2024 |
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2023 |
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2024 |
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2023 |
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Americas1
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Product revenue |
20,487 |
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|
25,493 |
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44,117 |
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62,128 |
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Service and subscription |
17,298 |
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17,635 |
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32,412 |
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35,589 |
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Total revenue |
37,785 |
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54 |
% |
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43,128 |
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57 |
% |
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76,529 |
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54 |
% |
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97,717 |
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58 |
% |
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EMEA |
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Product revenue |
11,682 |
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|
11,975 |
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24,656 |
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27,823 |
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Service and subscription |
11,731 |
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10,846 |
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21,394 |
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21,952 |
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Total revenue |
23,413 |
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33 |
% |
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22,821 |
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30 |
% |
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46,050 |
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32 |
% |
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49,775 |
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30 |
% |
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APAC |
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Product revenue |
4,616 |
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5,479 |
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9,006 |
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11,571 |
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Service and subscription |
2,292 |
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2,024 |
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4,962 |
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3,917 |
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Total revenue |
6,908 |
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10 |
% |
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7,503 |
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10 |
% |
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13,968 |
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10 |
% |
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15,488 |
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9 |
% |
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Consolidated |
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Product revenue |
36,785 |
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42,947 |
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77,779 |
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101,522 |
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Service and subscription |
31,321 |
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30,505 |
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58,768 |
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61,458 |
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Royalty2
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2,363 |
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3 |
% |
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2,228 |
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3 |
% |
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5,265 |
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4 |
% |
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5,194 |
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3 |
% |
Total revenue |
$ |
70,469 |
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100 |
% |
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$ |
75,680 |
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100 |
% |
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$ |
141,812 |
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100 |
% |
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$ |
168,174 |
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100 |
% |
1 Revenue for the Americas geographic region outside of the United States is not significant.
2 Royalty revenue is not allocatable to geographic regions.
Revenue by Solution
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Three Months Ended September 30, |
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Six Months Ended September 30, |
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2024 |
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% |
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2023 |
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% |
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2024 |
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% |
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2023 |
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% |
Primary storage systems |
$ |
11,760 |
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17 |
% |
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$ |
17,058 |
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23 |
% |
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$ |
28,630 |
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20 |
% |
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$ |
28,507 |
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17 |
% |
Secondary storage systems |
21,742 |
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30 |
% |
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20,340 |
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27 |
% |
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37,511 |
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26 |
% |
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61,912 |
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36 |
% |
Device and media |
7,430 |
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11 |
% |
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7,893 |
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10 |
% |
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16,679 |
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12 |
% |
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16,085 |
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10 |
% |
Service |
27,174 |
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39 |
% |
|
28,161 |
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37 |
% |
|
53,727 |
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38 |
% |
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56,476 |
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34 |
% |
Royalty |
2,363 |
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3 |
% |
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2,228 |
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3 |
% |
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5,265 |
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4 |
% |
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5,194 |
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3 |
% |
Total revenue1
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$ |
70,469 |
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100 |
% |
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$ |
75,680 |
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100 |
% |
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$ |
141,812 |
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100 |
% |
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$ |
168,174 |
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100 |
% |
1 Subscription revenue of $4.1 million and $1.0 million was allocated to Primary and Secondary storage systems for the three months ended September 30, 2024 and 2023, respectively. Subscription revenue of $5.0 million and $2.5 million was allocated to Primary and Secondary storage systems for the six months ended September 30, 2024 and 2023, respectively.
|
Schedule of Contract Asset, Contract Liability and Receivable |
The following table presents the Company’s contract liabilities and certain information related to this balance as of March 31, 2024 and September 30, 2024 (in thousands):
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March 31, 2024 |
Deferred revenue |
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$ |
116,687 |
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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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$ |
76,304 |
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September 30, 2024 |
Deferred revenue |
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$ |
106,533 |
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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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$ |
48,132 |
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The table below reflects the Company’s deferred revenue as of September 30, 2024 (in thousands):
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Deferred revenue by period |
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Total |
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1 year or less |
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1 – 3 Years |
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3 year or greater |
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Service revenue |
89,667 |
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|
61,629 |
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|
22,809 |
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$ |
5,229 |
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Subscription revenue |
$ |
16,866 |
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$ |
7,740 |
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$ |
7,382 |
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$ |
1,744 |
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Total at September 30, 2024 |
$ |
106,533 |
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$ |
69,369 |
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$ |
30,191 |
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$ |
6,973 |
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