| 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 |
|
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 |
|
|
|
17,635 |
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|
|
32,412 |
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|
|
35,589 |
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| Total revenue |
37,785 |
|
54 |
% |
|
43,128 |
|
57 |
% |
|
76,529 |
|
54 |
% |
|
97,717 |
|
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 |
|
33 |
% |
|
22,821 |
|
30 |
% |
|
46,050 |
|
32 |
% |
|
49,775 |
|
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 |
% |
|
7,503 |
|
10 |
% |
|
13,968 |
|
10 |
% |
|
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
|
2,363 |
|
3 |
% |
|
2,228 |
|
3 |
% |
|
5,265 |
|
4 |
% |
|
5,194 |
|
3 |
% |
| Total revenue |
$ |
70,469 |
|
100 |
% |
|
$ |
75,680 |
|
100 |
% |
|
$ |
141,812 |
|
100 |
% |
|
$ |
168,174 |
|
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, |
|
Six Months Ended September 30, |
|
2024 |
|
% |
|
2023 |
|
% |
|
2024 |
|
% |
|
2023 |
|
% |
| Primary storage systems |
$ |
11,760 |
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|
17 |
% |
|
$ |
17,058 |
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|
23 |
% |
|
$ |
28,630 |
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|
20 |
% |
|
$ |
28,507 |
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|
17 |
% |
| Secondary storage systems |
21,742 |
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|
30 |
% |
|
20,340 |
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27 |
% |
|
37,511 |
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|
26 |
% |
|
61,912 |
|
|
36 |
% |
| Device and media |
7,430 |
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|
11 |
% |
|
7,893 |
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|
10 |
% |
|
16,679 |
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|
12 |
% |
|
16,085 |
|
|
10 |
% |
| Service |
27,174 |
|
|
39 |
% |
|
28,161 |
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|
37 |
% |
|
53,727 |
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|
38 |
% |
|
56,476 |
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|
34 |
% |
| Royalty |
2,363 |
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|
3 |
% |
|
2,228 |
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|
3 |
% |
|
5,265 |
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|
4 |
% |
|
5,194 |
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|
3 |
% |
Total revenue1
|
$ |
70,469 |
|
|
100 |
% |
|
$ |
75,680 |
|
|
100 |
% |
|
$ |
141,812 |
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|
100 |
% |
|
$ |
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 |
|
$ |
76,304 |
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September 30, 2024 |
| Deferred revenue |
|
$ |
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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Deferred revenue by period |
|
Total |
|
1 year or less |
|
1 – 3 Years |
|
3 year or greater |
|
|
| Service revenue |
89,667 |
|
|
61,629 |
|
|
22,809 |
|
|
$ |
5,229 |
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| Subscription revenue |
$ |
16,866 |
|
|
$ |
7,740 |
|
|
$ |
7,382 |
|
|
$ |
1,744 |
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|
|
| Total at September 30, 2024 |
$ |
106,533 |
|
|
$ |
69,369 |
|
|
$ |
30,191 |
|
|
$ |
6,973 |
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|