| 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 December 31, |
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Nine Months Ended December 31, |
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|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
Americas1
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|
|
|
|
|
| Product revenue |
18,294 |
|
|
|
16,159 |
|
|
|
62,410 |
|
|
|
78,287 |
|
|
| Service and subscription |
16,563 |
|
|
|
18,282 |
|
|
|
48,975 |
|
|
|
53,871 |
|
|
| Total revenue |
34,857 |
|
48 |
% |
|
34,441 |
|
47 |
% |
|
111,385 |
|
52 |
% |
|
132,158 |
|
55 |
% |
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| EMEA |
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|
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| Product revenue |
15,235 |
|
|
|
14,786 |
|
|
|
39,892 |
|
|
|
42,609 |
|
|
| Service and subscription |
12,077 |
|
|
|
12,282 |
|
|
|
33,471 |
|
|
|
34,234 |
|
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| Total revenue |
27,312 |
|
38 |
% |
|
27,068 |
|
38 |
% |
|
73,363 |
|
34 |
% |
|
76,843 |
|
32 |
% |
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| APAC |
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|
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| Product revenue |
5,081 |
|
|
|
6,168 |
|
|
|
14,087 |
|
|
|
17,739 |
|
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| Service and subscription |
2,975 |
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|
|
2,207 |
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|
7,937 |
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|
6,124 |
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| Total revenue |
8,056 |
|
11 |
% |
|
8,375 |
|
12 |
% |
|
22,024 |
|
10 |
% |
|
23,863 |
|
10 |
% |
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| Consolidated |
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| Product revenue |
38,610 |
|
|
|
37,113 |
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|
|
116,389 |
|
|
|
138,635 |
|
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| Service and subscription |
31,615 |
|
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|
32,771 |
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|
90,383 |
|
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|
94,229 |
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|
Royalty2
|
2,326 |
|
3 |
% |
|
2,042 |
|
3 |
% |
|
7,592 |
|
4 |
% |
|
7,235 |
|
3 |
% |
| Total revenue |
$ |
72,551 |
|
100 |
% |
|
$ |
71,926 |
|
100 |
% |
|
$ |
214,364 |
|
100 |
% |
|
$ |
240,099 |
|
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 December 31, |
|
Nine Months Ended December 31, |
|
2024 |
|
% |
|
2023 |
|
% |
|
2024 |
|
% |
|
2023 |
|
% |
| Primary storage systems |
$ |
12,404 |
|
|
17 |
% |
|
$ |
12,887 |
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|
18 |
% |
|
$ |
41,034 |
|
|
19 |
% |
|
$ |
41,394 |
|
|
17 |
% |
| Secondary storage systems |
23,276 |
|
|
33 |
% |
|
20,206 |
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|
28 |
% |
|
60,787 |
|
|
28 |
% |
|
82,118 |
|
|
34 |
% |
| Device and media |
7,575 |
|
|
10 |
% |
|
7,716 |
|
|
11 |
% |
|
24,254 |
|
|
11 |
% |
|
23,801 |
|
|
10 |
% |
| Service |
26,970 |
|
|
37 |
% |
|
29,075 |
|
|
40 |
% |
|
80,697 |
|
|
38 |
% |
|
85,551 |
|
|
36 |
% |
| Royalty |
2,326 |
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|
3 |
% |
|
2,042 |
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|
3 |
% |
|
7,592 |
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|
4 |
% |
|
7,235 |
|
|
3 |
% |
Total revenue1
|
$ |
72,551 |
|
|
100 |
% |
|
$ |
71,926 |
|
|
100 |
% |
|
$ |
214,364 |
|
|
100 |
% |
|
$ |
240,099 |
|
|
100 |
% |
1 Subscription revenue of $4.6 million and $2.3 million was allocated to Primary and Secondary storage systems for the three months ended December 31, 2024 and 2023, respectively. Subscription revenue of $11.3 million and $4.8 million was allocated to Primary and Secondary storage systems for the nine months ended December 31, 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 December 31, 2024 (in thousands):
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|
March 31, 2024 |
| Deferred revenue |
|
$ |
116,687 |
|
| Revenue recognized in the period from amounts included in contract liabilities at the beginning of the period |
|
$ |
76,304 |
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|
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|
December 31, 2024 |
| Deferred revenue |
|
$ |
105,266 |
|
| Revenue recognized in the period from amounts included in contract liabilities at the beginning of the period |
|
$ |
64,539 |
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Deferred revenue by period |
|
Total |
|
1 year or less |
|
1 – 3 Years |
|
3 year or greater |
|
|
| Service revenue |
84,624 |
|
|
60,782 |
|
|
21,815 |
|
|
$ |
2,027 |
|
|
|
| Subscription revenue |
$ |
20,642 |
|
|
$ |
9,134 |
|
|
$ |
8,773 |
|
|
$ |
2,735 |
|
|
|
| Balance as of December 31, 2024 |
$ |
105,266 |
|
|
$ |
69,916 |
|
|
$ |
30,588 |
|
|
$ |
4,762 |
|
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|
|