Quarterly report [Sections 13 or 15(d)]

REVENUE

v3.26.1
REVENUE
 3 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
Contract Balances

The following table presents the Company’s contract assets and liabilities: 

June 30, 2026 March 31, 2026 June 30, 2025 March 31, 2025
Accounts receivable, net $ 66,659  $ 69,650  $ 48,445  $ 52,502 
Contract assets - included in Other current assets 342  351  278  278 
Deferred revenue, current portion 76,158  75,654  69,675  75,076 
Deferred revenue, net of current portion 38,980  39,030  36,580  38,847 

Remaining Performance Obligations

Total remaining performance obligations (“RPO”) refers to goods and services which have been contracted for but not recognized into revenue. RPO consists of both deferred revenue, which is included in the condensed
consolidated balance sheets, and non-cancelable amounts from contracts that will be invoiced in the future. As of June 30, 2026, the total balance was $165.9 million. This amount excludes variable consideration related to sales-based royalties.

Remaining performance obligations consisted of the following (in thousands):
Current Non-Current Total
As of June 30, 2026 $ 126,924  $ 38,980  $ 165,904 

Deferred revenue primarily consists of amounts invoiced and paid but not recognized as revenue, including performance obligations pertaining to subscription services. The table below reflects our deferred revenue as of June 30, 2026 (in thousands):
Deferred revenue as of June 30, 2026
Current Non-current Total
Service revenue $ 62,133  $ 29,645  $ 91,778 
Subscription revenue 12,899  9,335  22,234 
Product revenue 1,126  —  1,126 
     Total $ 76,158  $ 38,980  $ 115,138 

The Company recognized revenue $22.9 million in the 3 months ended June 30,2026 and $26.6 million in the 3 months ended June 30, 2025 that was included in the contract liability balances at March 31, 2026 and 2025, respectively.