Quarterly report [Sections 13 or 15(d)]

REVENUE

v3.26.3
REVENUE
 6 Months Ended
Sep. 30, 2026
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
Contract Balances

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

September 30, 2026 March 31, 2026 March 31, 2025
Accounts receivable, net $ 70,725  $ 69,650  $ 52,502 
Contract assets - included in Other current assets 419  351  278 
Deferred revenue, current portion 75,156  75,654  75,076 
Deferred revenue, net of current portion 42,300  39,030  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 September 30, 2026, the total balance was $184.6 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 September 30, 2026 $ 142,321  $ 42,300  $ 184,621 

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 September 30, 2026 (in thousands):
Deferred revenue as of September 30, 2026
Current Non-current Total
Service revenue $ 61,524  $ 32,139  $ 93,663 
Subscription revenue 12,480  10,161  22,641 
Product revenue 1,152  —  1,152 
     Total $ 75,156  $ 42,300  $ 117,456 

The Company recognized revenue of $42.6 million in the six months ended September 30, 2026 and $48.1 million in the six months ended September 30, 2025 that was included in the contract liability balances at March 31, 2026 and 2025, respectively.