Dynatrace (DT) 10-Q2 Nov 232024 Q2 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	6 Months Ended
Cover - shares	Sep. 30, 2023	Oct. 31, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-39010
Entity Registrant Name	Dynatrace, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-2386428
Entity Address, Address Line One	1601 Trapelo Road, Suite 116
Entity Address, City or Town	Waltham,
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02451
City Area Code	781
Local Phone Number	530-1000
Title of 12(b) Security	Common stock, par value $0.001 per share
Trading Symbol	DT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		294,394,482
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001773383
Current Fiscal Year End Date	--03-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023
Current assets:
Cash and cash equivalents	$ 701,524	$ 555,348
Accounts receivable, net	262,733	442,518
Deferred commissions, current	84,181	83,029
Prepaid expenses and other current assets	53,148	37,289
Total current assets	1,101,586	1,118,184
Property and equipment, net	46,946	53,576
Operating lease right-of-use assets, net	67,367	68,074
Goodwill	1,309,549	1,281,812
Other intangible assets, net	52,144	63,599
Deferred tax assets, net	113,827	79,822
Deferred commissions, non-current	74,580	86,232
Other assets	16,161	14,048
Total assets	2,782,160	2,765,347
Current liabilities:
Accounts payable	15,842	21,953
Accrued expenses, current	146,775	188,380
Deferred revenue, current	677,837	811,058
Operating lease liabilities, current	15,912	15,652
Total current liabilities	856,366	1,037,043
Deferred revenue, non-current	33,586	34,423
Accrued expenses, non-current	30,392	29,212
Operating lease liabilities, non-current	59,857	59,520
Deferred tax liabilities	305	280
Total liabilities	980,506	1,160,478
Commitments and contingencies
Shareholders' equity:
Common shares, $0.001 par value, 600,000,000 shares authorized, 294,293,922 and 290,411,108 shares issued and outstanding at September 30, 2023 and March 31, 2023, respectively	294	290
Additional paid-in capital	2,114,472	1,989,797
Accumulated deficit	(279,392)	(353,389)
Accumulated other comprehensive loss	(33,720)	(31,829)
Total shareholders' equity	1,801,654	1,604,869
Total liabilities and shareholders' equity	$ 2,782,160	$ 2,765,347

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2023	Mar. 31, 2023
Statement of Financial Position [Abstract]
Par value (in dollars per share)	$ 0.001	$ 0.001
Common shares, authorized (in shares)	600,000,000	600,000,000
Common shares, issued (in shares)	294,293,922	290,411,108
Common shares, outstanding (in shares)	294,293,922	290,411,108

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue:
Total revenue	$ 351,700	$ 279,326	$ 684,586	$ 546,599
Cost of revenue:
Amortization of acquired technology	3,900	3,888	7,798	7,780
Total cost of revenue	64,367	55,704	126,711	107,502
Gross profit	287,333	223,622	557,875	439,097
Operating expenses:
Research and development	74,084	52,905	140,366	102,316
Sales and marketing	127,605	105,348	252,722	211,021
General and administrative	44,749	38,397	83,843	73,131
Amortization of other intangibles	5,627	6,573	11,387	13,146
Restructuring and other	(1)	0	0	(10)
Total operating expenses	252,064	203,223	488,318	399,604
Income from operations	35,269	20,399	69,557	39,493
Interest income (expense), net	8,509	(513)	15,655	(2,688)
Other expense, net	(3,075)	(1,214)	(2,823)	(3,464)
Income before income taxes	40,703	18,672	82,389	33,341
Income tax expense	(4,894)	(8,146)	(8,392)	(20,701)
Net income	$ 35,809	$ 10,526	$ 73,997	$ 12,640
Net income per share:
Basic (in dollars per share)	$ 0.12	$ 0.04	$ 0.25	$ 0.04
Diluted (in dollars per share)	$ 0.12	$ 0.04	$ 0.25	$ 0.04
Weighted average shares outstanding:
Basic (in shares)	293,654	287,190	292,504	286,699
Diluted (in shares)	297,794	290,601	297,492	290,433
Subscription
Revenue:
Total revenue	$ 334,497	$ 261,306	$ 650,951	$ 510,864
Cost of revenue:
Cost of revenues	44,792	35,764	87,696	68,502
Service
Revenue:
Total revenue	17,203	18,020	33,635	35,735
Cost of revenue:
Cost of revenues	$ 15,675	$ 16,052	$ 31,217	$ 31,220

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 35,809	$ 10,526	$ 73,997	$ 12,640
Other comprehensive (loss) income
Foreign currency translation adjustment	(474)	1,818	(1,891)	2,298
Total other comprehensive (loss) income	(474)	1,818	(1,891)	2,298
Comprehensive income	$ 35,335	$ 12,344	$ 72,106	$ 14,938

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Shares	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Mar. 31, 2022		286,053,000
Beginning balance at Mar. 31, 2022	$ 1,304,446	$ 286	$ 1,792,197	$ (461,348)	$ (26,689)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation	2,298				2,298
Restricted stock units vested (in shares)		1,264,000
Restricted stock units vested	0	$ 2	(2)
Restricted stock awards forfeited (in shares)		(14,000)
Issuance of common stock related to employee stock purchase plan (in shares)		266,000
Issuance of common stock related to employee stock purchase plan	8,627		8,627
Exercise of stock options (in shares)		244,000
Exercise of stock options	4,332		4,332
Share-based compensation	69,349		69,349
Equity repurchases	(15)		(15)
Net income	12,640			12,640
Ending balance (in shares) at Sep. 30, 2022		287,813,000
Ending balance at Sep. 30, 2022	1,401,677	$ 288	1,874,488	(448,708)	(24,391)
Beginning balance (in shares) at Jun. 30, 2022		287,259,000
Beginning balance at Jun. 30, 2022	1,345,626	$ 287	1,830,782	(459,234)	(26,209)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation	1,818				1,818
Restricted stock units vested (in shares)		378,000
Restricted stock units vested	0	$ 1	(1)
Exercise of stock options (in shares)		176,000
Exercise of stock options	3,057		3,057
Share-based compensation	40,654		40,654
Equity repurchases	(4)		(4)
Net income	10,526			10,526
Ending balance (in shares) at Sep. 30, 2022		287,813,000
Ending balance at Sep. 30, 2022	$ 1,401,677	$ 288	1,874,488	(448,708)	(24,391)
Beginning balance (in shares) at Mar. 31, 2023	290,411,108	290,411,000
Beginning balance at Mar. 31, 2023	$ 1,604,869	$ 290	1,989,797	(353,389)	(31,829)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation	(1,891)				(1,891)
Restricted stock units vested (in shares)		2,780,000
Restricted stock units vested	0	$ 3	(3)
Issuance of common stock related to employee stock purchase plan (in shares)		313,000
Issuance of common stock related to employee stock purchase plan	$ 9,584		9,584
Exercise of stock options (in shares)	790,000	790,000
Exercise of stock options	$ 16,619	$ 1	16,618
Share-based compensation	98,476		98,476
Net income	$ 73,997			73,997
Ending balance (in shares) at Sep. 30, 2023	294,293,922	294,294,000
Ending balance at Sep. 30, 2023	$ 1,801,654	$ 294	2,114,472	(279,392)	(33,720)
Beginning balance (in shares) at Jun. 30, 2023		293,160,000
Beginning balance at Jun. 30, 2023	1,704,932	$ 293	2,053,086	(315,201)	(33,246)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation	(474)				(474)
Restricted stock units vested (in shares)		959,000
Restricted stock units vested	0	$ 1	(1)
Exercise of stock options (in shares)		175,000
Exercise of stock options	3,429		3,429
Share-based compensation	57,958		57,958
Net income	$ 35,809			35,809
Ending balance (in shares) at Sep. 30, 2023	294,293,922	294,294,000
Ending balance at Sep. 30, 2023	$ 1,801,654	$ 294	$ 2,114,472	$ (279,392)	$ (33,720)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income	$ 73,997	$ 12,640
Adjustments to reconcile net income to cash provided by operations:
Depreciation	7,890	5,746
Amortization	19,207	21,068
Share-based compensation	98,476	69,349
Deferred income taxes	(35,166)	0
Other	3,019	4,484
Net change in operating assets and liabilities:
Accounts receivable	177,689	153,512
Deferred commissions	8,978	(3,618)
Prepaid expenses and other assets	(22,909)	25,128
Accounts payable and accrued expenses	(33,246)	(14,428)
Operating leases, net	1,333	44
Deferred revenue	(128,488)	(101,429)
Net cash provided by operating activities	170,780	172,496
Cash flows from investing activities:
Purchase of property and equipment	(13,017)	(11,237)
Acquisition of a business, net of cash acquired	(32,391)	0
Net cash used in investing activities	(45,408)	(11,237)
Cash flows from financing activities:
Repayment of term loans	0	(60,000)
Proceeds from employee stock purchase plan	9,584	8,627
Proceeds from exercise of stock options	16,619	4,332
Equity repurchases	0	(15)
Net cash provided by (used in) financing activities	26,203	(47,056)
Effect of exchange rates on cash and cash equivalents	(5,399)	(13,740)
Net increase in cash and cash equivalents	146,176	100,463
Cash and cash equivalents, beginning of period	555,348	462,967
Cash and cash equivalents, end of period	701,524	563,430
Supplemental cash flow data:
Cash paid for interest	420	4,743
Cash paid for (received from) tax, net	$ 41,804	$ (23,567)

Description of the Business

Description of the Business	6 Months Ended
Description of the Business	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the Business	Description of the Business Business Dynatrace, Inc. (“Dynatrace”, or the “Company”) designed its unified observability and security platform with analytics and automation at its core to address the growing complexity faced by technology and digital business teams as these enterprises further embrace the cloud to effect their digital transformation. Artificial intelligence and continuous automation deliver precise answers about the performance and security of applications, the underlying infrastructure, and the experience of its customers’ users that enable organizations to innovate faster, operate more efficiently, and improve user experiences for consistently better business outcomes. Fiscal year The Company’s fiscal year ends on March 31. References to fiscal 2024, for example, refer to the fiscal year ending March 31, 2024.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
Significant Accounting Policies	Sep. 30, 2023
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of presentation and consolidation The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. All intercompany balances and transactions have been eliminated in the accompanying condensed consolidated financial statements. There were no new recently issued accounting pronouncements that were expected to have a material impact on the condensed consolidated financial statements and related notes. Unaudited interim consolidated financial information The accompanying interim condensed consolidated balance sheet as of September 30, 2023 and the interim condensed consolidated statements of operations, statements of comprehensive income, and statements of shareholders’ equity for the three and six months ended September 30, 2023 and 2022, statements of cash flows for the six months ended September 30, 2023 and 2022, and the related disclosures, are unaudited. In management’s opinion, the unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and include all normal and recurring adjustments necessary for the fair presentation of the Company’s financial position as of September 30, 2023, its results of operations for the three and six months ended September 30, 2023 and 2022, and its cash flows for the six months ended September 30, 2023 and 2022 in accordance with U.S. GAAP. The results for the three and six months ended September 30, 2023 are not necessarily indicative of the results to be expected for the full fiscal year or any other interim period. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2023 (the “Annual Report”). Reclassification During the fourth quarter of fiscal 2023, the Company refined its methodology used to allocate depreciation expense for certain property and equipment to better align the expense with the related use of property and equipment. This change in allocating depreciation expense has been applied retrospectively to April 1, 2022, and had no impact on the Company’s income from operations and net income. Prior period amounts have been reclassified to conform to the current period presentation. The following table presents the effect of the reclassification and the impact on the Company’s condensed consolidated statements of operations (in thousands): Three Months Ended September 30, 2022 Six Months Ended September 30, 2022 Previous Method Current Method Effect of Change Previous Method Current Method Effect of Change Research and development $ 51,907 $ 52,905 $ 998 $ 100,389 $ 102,316 $ 1,927 Sales and marketing 104,669 105,348 679 209,684 211,021 1,337 General and administrative 40,074 38,397 (1,677) 76,395 73,131 (3,264) Net income 10,526 10,526 — 12,640 12,640 — Use of estimates The preparation of unaudited condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, the disclosure of contingent assets and liabilities as of the date of the unaudited condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Management periodically evaluates such estimates and assumptions for continued reasonableness. In particular, the Company makes estimates with respect to the stand-alone selling price for each distinct performance obligation in customer contracts with multiple performance obligations, the allowance for credit losses, the fair value of tangible and intangible assets acquired, the valuation of long-lived assets, the period of benefit for deferred commissions and material rights, income taxes, equity-based compensation expense, and the determination of the incremental borrowing rate used for operating lease liabilities, among other things. Appropriate adjustments, if any, to the estimates used are made prospectively based upon such periodic evaluation. Actual results could differ from those estimates. Significant accounting policies The Company’s significant accounting policies are discussed in Note 2, Significant Accounting Policies, in the Company’s Annual Report. There have been no changes to the Company’s significant accounting policies described in the Company’s Annual Report that have had a material impact on its condensed consolidated financial statements and related notes.

Revenue Recognition

Revenue Recognition	6 Months Ended
Revenue Recognition	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Disaggregation of revenue The following table is a summary of the Company’s total revenue by geographic region (in thousands, except percentages): Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Amount % Amount % Amount % Amount % North America $ 208,968 59 % $ 167,755 60 % $ 407,505 59 % $ 324,504 59 % Europe, Middle East and Africa 87,764 25 % 69,597 25 % 170,913 25 % 139,745 26 % Asia Pacific 31,189 9 % 27,446 10 % 60,997 9 % 53,541 10 % Latin America 23,779 7 % 14,528 5 % 45,171 7 % 28,809 5 % Total revenue $ 351,700 $ 279,326 $ 684,586 $ 546,599 For the three and six months ended September 30, 2023 and 2022, the United States was the only country that represented more than 10% of the Company’s revenue in any period, constituting $197.8 million and 56% and $158.3 million and 57% of total revenue during the three months ended September 30, 2023 and 2022, respectively, and $385.8 million and 56% and $305.8 million and 56% of total revenue during the six months ended September 30, 2023 and 2022, respectively. Deferred revenue Revenue recognized during the three months ended September 30, 2023 and 2022, which was included in the deferred revenue balance at the beginning of each respective period, was $235.6 million and $192.0 million, respectively. Revenue recognized during the six months ended September 30, 2023 and 2022, which was included in the deferred revenue balance at the beginning of each respective period, was $532.9 million and $425.7 million, respectively. Remaining performance obligations As of September 30, 2023, the aggregate amount of the transaction price allocated to remaining performance obligations was $1,793.9 million, which consists of both billed consideration in the amount of $711.4 million and unbilled consideration in the amount of $1,082.5 million that the Company expects to recognize as subscription and service revenue. The Company expects to recognize 61% of the total remaining performance obligations as revenue over the next twelve months and the remainder thereafter. Contract assets

Acquisitions

Acquisitions	6 Months Ended
Acquisitions	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions On August 31, 2023, the Company acquired 100% of the outstanding equity of Rookout, Ltd. (“Rookout”). Rookout is a provider of enterprise-ready and privacy-aware solutions that enable developers to troubleshoot and debug actively running code in Kubernetes-hosted cloud-native applications. This acquisition offers opportunities to expand the Company’s unified observability and security platform from the addition of Rookout’s technology and experienced team. The preliminary purchase consideration of Rookout was $33.5 million, after considering certain adjustments, and was paid from cash on hand. The preliminary purchase consideration is subject to a final post-closing adjustment. The acquisition of Rookout has been accounted for as a business combination under the acquisition method of accounting, which results in acquired assets and assumed liabilities being measured at their estimate fair value as of the acquisition date. The purchase consideration was allocated to the tangible assets and liabilities acquired as of the acquisition date, with the excess recorded to goodwill as shown below (in thousands). Assets acquired: Cash and cash equivalents $ 1,073 Accounts receivable, prepaid and other assets 504 Property and equipment 208 Intangible asset 7,800 Total assets acquired $ 9,585 Liabilities assumed: Accounts payable, accrued and other liabilities 3,086 Deferred revenue 1,003 Total liabilities assumed $ 4,089 Net assets acquired 5,496 Fair value of consideration transferred 33,464 Goodwill $ 27,968 The fair value of assets and liabilities acquired may change as additional information is received during the measurement period. The Company expects to finalize the valuation as soon as practicable, but no later than one year from the acquisition date. Goodwill is primarily attributable to expected synergies and acquired skilled workforce. The goodwill was allocated to the Company’s one reporting unit. The Company identified developed technology as the sole acquired intangible asset. The estimated fair value of the developed technology was $7.8 million, which was based on a valuation using the income approach and is classified as capitalized software on the condensed consolidated balance sheet. The estimate useful life of the developed technology is seven years. The acquired goodwill and intangible asset were not deductible for tax purposes.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets, Net	6 Months Ended
Goodwill and Other Intangible Assets, Net	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets, Net	Goodwill and Other Intangible Assets, Net Changes in the carrying amount of goodwill for the six months ended September 30, 2023 consists of the following (in thousands): September 30, 2023 Balance, beginning of period $ 1,281,812 Goodwill from Rookout acquisition 27,968 Foreign currency impact (231) Balance, end of period $ 1,309,549 Other intangible assets, net, excluding goodwill consists of the following (in thousands): Weighted September 30, 2023 March 31, 2023 Capitalized software 106 $ 199,598 $ 191,863 Customer relationships 120 351,555 351,555 Trademarks and tradenames 120 55,003 55,003 Total intangible assets 606,156 598,421 Less: accumulated amortization (554,012) (534,822) Total other intangible assets, net $ 52,144 $ 63,599 Amortization of other intangible assets totaled $9.5 million and $10.5 million for the three months ended September 30, 2023 and 2022, respectively, and $19.2 million a nd $21.1 million for the six months ended September 30, 2023 and 2022, respectively.

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company computes its interim provision for income taxes by applying the estimated annual effective tax rate to income from operations and adjusts the provision for discrete tax items occurring in the period. The Company’s effective tax rate for the three months ended September 30, 2023 was 12.0% compared to 43.6% for the three months ended September 30, 2022. The Company’s effective tax rate for the six months ended September 30, 2023 was 10.2% compared to 62.1% for the six months ended September 30, 2022. The decrease in the effective tax rate for both the three months ended September 30, 2023 and the six months ended September 30, 2023 was primarily due to an increase in share-based compensation windfall benefits as well as additional tax benefits, primarily related to the deferred tax asset resulting from capitalized research and development expenses under Section 174 of the Internal Revenue Code, recognized in the current year due to the reversal of the U.S. valuation allowance as of March 31, 2023.

Long-term Debt

Long-term Debt	6 Months Ended
Long-term Debt	Sep. 30, 2023
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt On December 2, 2022, the Company entered into a Credit Agreement for a senior secured revolving credit facility (the “Credit Facility”) in an aggregate amount of $400.0 million. The Credit Facility has sublimits for swing line loans up to $30.0 million and for the issuance of standby letters of credit in a face amount up to $45.0 million. The Credit Facility will mature on December 2, 2027. As of September 30, 2023 and March 31, 2023, there were no amounts outstanding under the Credit Facility. There were $12.1 million and $15.5 million of letters of credit issued as of September 30, 2023 and March 31, 2023, respectively. The Company had $387.9 million and $384.5 million of availability under the Credit Facility as of September 30, 2023 and March 31, 2023, respectively. Borrowings under the Credit Facility are available in U.S. dollars, Euros, Pounds Sterling and Canadian Dollars, with a sublimit of $100.0 million for non-U.S. dollar-denominated borrowings. Borrowings under the Credit Agreement currently bear interest at (i) the Term Secured Overnight Financing Rate plus 0.10%, (ii) the Adjusted Euro Interbank Offer Rate, (iii) the Canadian Dollar Offered Rate, (iv) the Base Rate, as defined per the Credit Agreement, or (v) the Sterling Overnight Index Average, in each case plus an applicable margin as defined per the Credit Agreement. Interest payments are due quarterly, or more frequently, based on the terms of the Credit Agreement. The Company incurs fees with respect to the Credit Facility, including (i) a commitment fee ranging from 0.175% to 0.35% per annum, dependent on the Company’s leverage ratio, as defined per the Credit Agreement, of the unused commitment under the Credit Facility, (ii) a fronting fee of 0.125% per annum of the face amount of each letter of credit, (iii) a participation fee equal to the applicable margin, as defined per the Credit Agreement, applied to the daily average face amount of letters of credit, and (iv) customary administrative fees. Debt issuance costs of $1.9 million were incurred in connection with the Credit Facility. The debt issuance costs are included within “Other assets” in the condensed consolidated balance sheets and are being amortized into interest expense over the contractual term of the Credit Facility. There were $1.6 million and $1.8 million of unamortized debt issuance costs as of September 30, 2023 and March 31, 2023, respectively. Pursuant to the Credit Agreement, obligations owed under the Credit Facility are secured by a first priority security interest on substantially all assets of Dynatrace LLC, a wholly owned subsidiary of the Company, including a pledge of the capital stock and other interests of certain subsidiaries. Under certain circumstances, the guarantees may be released without action by, or consent of, the holder of the Credit Facility. The Credit Agreement contains customary affirmative and negative covenants, including financial covenants that require the Company to maintain specified financial ratios. At September 30, 2023, the Company was in compliance with all applicable covenants. First lien credit facilities The Company’s former First Lien Credit Agreement, as amended, provided for a term loan facility (the “First Lien Term Loan”) in an aggregate principal amount of $950.0 million and a senior secured revolving credit facility (the “Revolving Facility”), in an aggregate amount of $60.0 million. The Revolving Facility included a $25.0 million letter of credit sub-facility. Borrowings under the First Lien Term Loan and Revolving Facility bore interest, at the Company’s election, at either (i) the Alternative Base Rate, as defined per the credit agreement, plus 1.25% per annum, or (ii) LIBOR plus 2.25% per annum. The maturity date on the First Lien Term Loan and Revolving Facility was August 23, 2025 and August 23, 2023, respectively, with payment due in full on the maturity date. Interest payments were due quarterly, or more frequently, based on the terms of the credit agreement.

Leases

Leases	6 Months Ended
Leases	Sep. 30, 2023
Leases [Abstract]
Leases	Leases The Company leases office space under non-cancelable operating leases which expire at various dates from fiscal 2024 to 2033. As of September 30, 2023, the weighted average remaining lease term was 6.1 years and the weighted average discount rate was 4.5%. The Company does not have any finance leases as of September 30, 2023. The Company has a sublease of a former office which expires in fiscal 2025. Sublease income from operating leases, which is recorded as a reduction of rental expense, was $0.5 million for both the three months ended September 30, 2023 and 2022, and $1.1 million for both the six months ended September 30, 2023 and 2022. The following table presents information about leases on the condensed consolidated statements of operations (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Operating lease expense (1) $ 3,831 $ 3,071 $ 7,600 $ 5,995 Short-term lease expense $ 507 $ 429 $ 1,006 $ 851 Variable lease expense $ 344 $ 164 $ 732 $ 376 _________________ (1) Presented gross of sublease income. The following table presents supplemental cash flow information about the Company’s leases (in thousands): Six Months Ended September 30, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities $ 9,090 $ 7,563 Operating lease assets obtained in exchange for new operating lease liabilities (1) $ 9,387 $ 13,713 _________________ (1) Includes the impact of new leases as well as remeasurements and modifications of existing leases. As of September 30, 2023, remaining maturities of lease liabilities were as follows (in thousands): Fiscal Years Ending March 31, Amount 2024 $ 9,581 2025 17,230 2026 14,100 2027 12,928 2028 8,697 Thereafter 23,033 Total operating lease payments (1) 85,569 Less: imputed interest (9,800) Total operating lease liabilities $ 75,769 _________________ (1) Presented gross of sublease income. As of September 30, 2023, the Company had commitments of $74.3 million for operating leases that have not yet commenced and therefore are not included in the right-of-use assets or operating lease liabilities. These operating leases are expected to commence during fiscal 2024 through 2026 with lease terms ranging from two years to 10 years.
Leases	Leases The Company leases office space under non-cancelable operating leases which expire at various dates from fiscal 2024 to 2033. As of September 30, 2023, the weighted average remaining lease term was 6.1 years and the weighted average discount rate was 4.5%. The Company does not have any finance leases as of September 30, 2023. The Company has a sublease of a former office which expires in fiscal 2025. Sublease income from operating leases, which is recorded as a reduction of rental expense, was $0.5 million for both the three months ended September 30, 2023 and 2022, and $1.1 million for both the six months ended September 30, 2023 and 2022. The following table presents information about leases on the condensed consolidated statements of operations (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Operating lease expense (1) $ 3,831 $ 3,071 $ 7,600 $ 5,995 Short-term lease expense $ 507 $ 429 $ 1,006 $ 851 Variable lease expense $ 344 $ 164 $ 732 $ 376 _________________ (1) Presented gross of sublease income. The following table presents supplemental cash flow information about the Company’s leases (in thousands): Six Months Ended September 30, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities $ 9,090 $ 7,563 Operating lease assets obtained in exchange for new operating lease liabilities (1) $ 9,387 $ 13,713 _________________ (1) Includes the impact of new leases as well as remeasurements and modifications of existing leases. As of September 30, 2023, remaining maturities of lease liabilities were as follows (in thousands): Fiscal Years Ending March 31, Amount 2024 $ 9,581 2025 17,230 2026 14,100 2027 12,928 2028 8,697 Thereafter 23,033 Total operating lease payments (1) 85,569 Less: imputed interest (9,800) Total operating lease liabilities $ 75,769 _________________ (1) Presented gross of sublease income. As of September 30, 2023, the Company had commitments of $74.3 million for operating leases that have not yet commenced and therefore are not included in the right-of-use assets or operating lease liabilities. These operating leases are expected to commence during fiscal 2024 through 2026 with lease terms ranging from two years to 10 years.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesLegal mattersThe Company is, from time to time, party to legal proceedings and subject to claims in the ordinary course of business. Although the outcome of legal proceedings and claims cannot be predicted with certainty, the Company currently believes that the resolution of any such matters will not have a material adverse effect on its business, operating results, financial condition, or cash flows.

Share-based Compensation

Share-based Compensation	6 Months Ended
Share-based Compensation	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Share-based Compensation	Share-based Compensation Amended and Restated 2019 Equity Incentive Plan In July 2019, the Company’s board of directors (the “Board”), upon the recommendation of the compensation committee of the Board, adopted the 2019 Equity Incentive Plan, as amended and restated (the “2019 Plan”) which was subsequently approved by the Company’s stockholders and was later amended and restated by the Board in January 2021. The Company initially reserved 52,000,000 shares of common stock, or the Initial Limit, for the issuance of awards under the 2019 Plan. The 2019 Plan provides that the number of shares reserved and available for issuance under the plan automatically increases each April 1, beginning on April 1, 2020, by 4% of the outstanding number of shares of the Company’s common stock on the immediately preceding March 31 or such lesser number determined by the compensation committee. This number is subject to adjustment in the event of a stock split, stock dividend or other change in the Company’s capitalization. As of September 30, 2023, 50,714,239 shares of common stock were available for future issuance under the 2019 Plan. Stock options The following table summarizes activity for stock options during the six months ended September 30, 2023: Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (per share) (years) (in thousands) Balance, March 31, 2023 4,636 $ 22.25 6.5 $ 94,565 Exercised (790) 21.04 Forfeited or expired (37) 44.15 Balance, September 30, 2023 3,809 $ 22.29 6.0 $ 93,850 Options vested and expected to vest at September 30, 2023 3,809 $ 22.29 6.0 $ 93,850 Options vested and exercisable at September 30, 2023 3,464 $ 20.85 5.9 $ 90,115 As of September 30, 2023, the total unrecognized compensation expense related to non-vested stock options was $4.2 million and is expected to be recognized over a weighted average period of 0.8 years. The Company recognized $2.4 million and $4.0 million of share-based compensation expense related to stock options for the three months ended September 30, 2023 and 2022, respectively, and $5.7 million and $9.2 million of share-based compensation expense related to stock options for the six months ended September 30, 2023 and 2022, respectively. Restricted shares and units The following table provides a summary of the changes in the number of restricted stock awards (“RSAs”) and restricted stock units (“RSUs”) for the six months ended September 30, 2023: Number of Weighted Average Grant Date Fair Value Number of RSUs Weighted Average (in thousands) (per share) (in thousands) (per share) Balance, March 31, 2023 4 $ 16.00 8,836 $ 41.76 Granted — — 4,934 52.06 Vested (4) 16.00 (2,780) 39.83 Forfeited — — (264) 43.78 Balance, September 30, 2023 — $ — 10,726 $ 46.95 RSUs outstanding as of September 30, 2023 were comprised of 9.7 million RSUs with only service conditions and 1.0 million RSUs with both service and performance conditions (“PSUs”). During the six months ended September 30, 2023, the Company granted PSUs to certain key employees that generally vest 33% one year after the grant date and the remaining 67% vest ratably on a quarterly basis over the following two years (the “Annual PSUs”). The number of shares that may be earned pursuant to the Annual PSUs is based on specific company metrics related to the Company’s fiscal year ending March 31, 2024. No Annual PSUs will be earned with respect to any metric if the applicable “threshold” percentage of the specific metric is not achieved, and the overall number of shares that may be earned shall not exceed 200% of the target award. Once the Annual PSUs are earned, they are then also subject to time-based vesting, with 33% of the earned Annual PSUs vesting on the first anniversary of the grant date, and with the remaining 67% vesting in eight equal quarterly installments over the following two years, and provided that the key employee remains employed by the Company through the applicable vesting date. As of September 30, 2023, the total unrecognized compensation expense related to unvested restricted stock units was $436.0 million and is to be recognized over a weighted average period of 2.3 years. The Company recognized $53.8 million and $34.7 million of share-based compensation expense related to restricted shares and units for the three months ended September 30, 2023 and 2022, respectively, and $89.3 million and $56.7 million of share-based compensation expense related to restricted shares and units for the six months ended September 30, 2023 and 2022, respectively. Employee Stock Purchase Plan In July 2019, the Board adopted, and the Company’s stockholders approved, the 2019 Employee Stock Purchase Plan (“ESPP”). The Company offers, sells and issues shares of common stock under this ESPP from time to time based on various factors and conditions, although the Company is under no obligation to sell any shares under this ESPP. The ESPP provides for six-month offering periods and each offering period consists of six-month purchase periods. On each purchase date, eligible employees purchase shares of the Company’s common stock at a price per share equal to 85% of the lesser of (1) the fair market value of the Company’s common stock on the offering date or (2) the fair market value of the Company’s common stock on the purchase date. For the six months ended September 30, 2023, 313,127 shares of common stock were purchased under the ESPP. As of September 30, 2023, 16,085,682 shares of common stock were available for future issuance under the ESPP. As of September 30, 2023, there was approximately $1.3 million of unrecognized share-based compensation related to the ESPP that is expected to be recognized over the remaining term of the current offering period. The Company recognized $1.7 million and $2.0 million of share-based compensation expense related to the ESPP for the three months ended September 30, 2023 and 2022, respectively, and $3.4 million and $3.5 million of share-based compensation expense related to the ESPP for the six months ended September 30, 2023 and 2022, respectively. Share-based compensation The following table summarizes the components of total share-based compensation expense included in the condensed consolidated financial statements for each period presented (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Cost of revenue $ 7,197 $ 5,235 $ 12,685 $ 9,125 Research and development 18,177 10,997 31,441 18,282 Sales and marketing 18,877 13,938 32,876 24,014 General and administrative 13,707 10,484 21,474 17,928 Total share-based compensation $ 57,958 $ 40,654 $ 98,476 $ 69,349

Net Income Per Share

Net Income Per Share	6 Months Ended
Net Income Per Share	Sep. 30, 2023
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share Basic net income per share is calculated by dividing the net income for the period by the weighted-average number of common shares outstanding during the period, without consideration of potentially dilutive securities. Diluted net income per share includes the dilutive effect of common share equivalents and is calculated using the weighted-average number of common shares and the common share equivalents outstanding during the reporting period. The dilutive effect of stock-based awards is calculated by application of the treasury stock method. An anti-dilutive impact is an increase in net income per share or a reduction in net loss per share resulting from the conversion, exercise, or contingent issuance of certain securities. The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share data): Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Numerator: Net income $ 35,809 $ 10,526 $ 73,997 $ 12,640 Denominator: Weighted average shares outstanding, basic 293,654 287,190 292,504 286,699 Dilutive effect of stock-based awards 4,140 3,411 4,988 3,734 Weighted average shares outstanding, diluted 297,794 290,601 297,492 290,433 Net income per share, basic $ 0.12 $ 0.04 $ 0.25 $ 0.04 Net income per share, diluted $ 0.12 $ 0.04 $ 0.25 $ 0.04 The effect of certain common share equivalents were excluded from the computation of weighted-average diluted shares outstanding for the three and six months ended September 30, 2023 and 2022 as inclusion would have resulted in anti-dilution. A summary of these weighted-average anti-dilutive common share equivalents is provided in the table below (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Stock options 144 892 152 1,070 Unvested RSAs and RSUs 4,304 2,089 2,926 1,217

Geographic Information

Geographic Information	6 Months Ended
Geographic Information	Sep. 30, 2023
Segment Reporting [Abstract]
Geographic Information	Geographic Information Revenue Revenues by geography are based on legal jurisdiction. See Note 3, Revenue Recognition, for a disaggregation of revenue by geographic region. Property and equipment, net The following table presents property and equipment by geographic region for the periods presented (in thousands): September 30, 2023 March 31, 2023 North America $ 16,533 $ 22,124 Europe, Middle East and Africa 28,522 29,142 Asia Pacific 1,726 2,194 Latin America 165 116 Total property and equipment, net $ 46,946 $ 53,576

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net income	$ 35,809	$ 10,526	$ 73,997	$ 12,640

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
Insider Trading Arrangements	Sep. 30, 2023 shares	Sep. 30, 2023 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On August 16, 2023, Jim Benson, Senior Vice President, Chief Financial Officer and Treasurer, adopted a Rule 10b5-1 trading arrangement that contemplates the sale of 62,993 shares of the Company’s common stock issuable to him upon vesting of time-based restricted stock units (“RSUs”) during the applicable period. Proceeds from sales under the trading arrangement will be used to cover taxes, including applicable withholding taxes at the time of vesting in accordance with the Company’s mandatory sell to cover policy. The duration of the trading arrangement is from December 18, 2023 through September 30, 2024 (or earlier, if all transactions under the trading arrangement are completed). On September 12, 2023, Dan Zugelder, Senior Vice President, Chief Revenue Officer, adopted a Rule 10b5-1 trading arrangement that contemplates the sale of the net amount of shares of the Company’s common stock issuable to him after the vesting of 32,771 RSUs on December 5, 2023. The duration of the trading arrangement is from December 15, 2023 through February 29, 2024 (or earlier, if all transactions under the trading arrangement are completed).
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Jim Benson [Member]
Trading Arrangements, by Individual
Name	Jim Benson
Title	Senior Vice President, Chief Financial Officer and Treasurer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 16, 2023
Arrangement Duration	287 days
Aggregate Available	62,993	62,993
Dan Zugelder [Member]
Trading Arrangements, by Individual
Name	Dan Zugelder
Title	Senior Vice President, Chief Revenue Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 12, 2023
Arrangement Duration	76 days
Aggregate Available	32,771	32,771

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
Significant Accounting Policies (Policies)	Sep. 30, 2023
Accounting Policies [Abstract]
Fiscal year	Fiscal year The Company’s fiscal year ends on March 31. References to fiscal 2024, for example, refer to the fiscal year ending March 31, 2024.
Basis of presentation and consolidation	Basis of presentation and consolidation The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. All intercompany balances and transactions have been eliminated in the accompanying condensed consolidated financial statements.
Unaudited interim consolidated financial information	Unaudited interim consolidated financial information The accompanying interim condensed consolidated balance sheet as of September 30, 2023 and the interim condensed consolidated statements of operations, statements of comprehensive income, and statements of shareholders’ equity for the three and six months ended September 30, 2023 and 2022, statements of cash flows for the six months ended September 30, 2023 and 2022, and the related disclosures, are unaudited. In management’s opinion, the unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and include all normal and recurring adjustments necessary for the fair presentation of the Company’s financial position as of September 30, 2023, its results of operations for the three and six months ended September 30, 2023 and 2022, and its cash flows for the six months ended September 30, 2023 and 2022 in accordance with U.S. GAAP. The results for the three and six months ended September 30, 2023 are not necessarily indicative of the results to be expected for the full fiscal year or any other interim period. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2023 (the “Annual Report”).
Reclassification	Reclassification During the fourth quarter of fiscal 2023, the Company refined its methodology used to allocate depreciation expense for certain property and equipment to better align the expense with the related use of property and equipment. This change in allocating depreciation expense has been applied retrospectively to April 1, 2022, and had no impact on the Company’s income from operations and net income. Prior period amounts have been reclassified to conform to the current period presentation. The following table presents the effect of the reclassification and the impact on the Company’s condensed consolidated statements of operations (in thousands): Three Months Ended September 30, 2022 Six Months Ended September 30, 2022 Previous Method Current Method Effect of Change Previous Method Current Method Effect of Change Research and development $ 51,907 $ 52,905 $ 998 $ 100,389 $ 102,316 $ 1,927 Sales and marketing 104,669 105,348 679 209,684 211,021 1,337 General and administrative 40,074 38,397 (1,677) 76,395 73,131 (3,264) Net income 10,526 10,526 — 12,640 12,640 —
Use of estimates	Use of estimates The preparation of unaudited condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, the disclosure of contingent assets and liabilities as of the date of the unaudited condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Management periodically evaluates such estimates and assumptions for continued reasonableness. In particular, the Company makes estimates with respect to the stand-alone selling price for each distinct performance obligation in customer contracts with multiple performance obligations, the allowance for credit losses, the fair value of tangible and intangible assets acquired, the valuation of long-lived assets, the period of benefit for deferred commissions and material rights, income taxes, equity-based compensation expense, and the determination of the incremental borrowing rate used for operating lease liabilities, among other things. Appropriate adjustments, if any, to the estimates used are made prospectively based upon such periodic evaluation. Actual results could differ from those estimates.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	6 Months Ended
Significant Accounting Policies (Tables)	Sep. 30, 2023
Accounting Policies [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	The following table presents the effect of the reclassification and the impact on the Company’s condensed consolidated statements of operations (in thousands): Three Months Ended September 30, 2022 Six Months Ended September 30, 2022 Previous Method Current Method Effect of Change Previous Method Current Method Effect of Change Research and development $ 51,907 $ 52,905 $ 998 $ 100,389 $ 102,316 $ 1,927 Sales and marketing 104,669 105,348 679 209,684 211,021 1,337 General and administrative 40,074 38,397 (1,677) 76,395 73,131 (3,264) Net income 10,526 10,526 — 12,640 12,640 —

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
Revenue Recognition (Tables)	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table is a summary of the Company’s total revenue by geographic region (in thousands, except percentages): Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Amount % Amount % Amount % Amount % North America $ 208,968 59 % $ 167,755 60 % $ 407,505 59 % $ 324,504 59 % Europe, Middle East and Africa 87,764 25 % 69,597 25 % 170,913 25 % 139,745 26 % Asia Pacific 31,189 9 % 27,446 10 % 60,997 9 % 53,541 10 % Latin America 23,779 7 % 14,528 5 % 45,171 7 % 28,809 5 % Total revenue $ 351,700 $ 279,326 $ 684,586 $ 546,599

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
Acquisitions (Tables)	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The purchase consideration was allocated to the tangible assets and liabilities acquired as of the acquisition date, with the excess recorded to goodwill as shown below (in thousands). Assets acquired: Cash and cash equivalents $ 1,073 Accounts receivable, prepaid and other assets 504 Property and equipment 208 Intangible asset 7,800 Total assets acquired $ 9,585 Liabilities assumed: Accounts payable, accrued and other liabilities 3,086 Deferred revenue 1,003 Total liabilities assumed $ 4,089 Net assets acquired 5,496 Fair value of consideration transferred 33,464 Goodwill $ 27,968

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets, Net (Tables)	6 Months Ended
Goodwill and Other Intangible Assets, Net (Tables)	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the carrying amount of goodwill for the six months ended September 30, 2023 consists of the following (in thousands): September 30, 2023 Balance, beginning of period $ 1,281,812 Goodwill from Rookout acquisition 27,968 Foreign currency impact (231) Balance, end of period $ 1,309,549
Schedule of Intangible Assets	Other intangible assets, net, excluding goodwill consists of the following (in thousands): Weighted September 30, 2023 March 31, 2023 Capitalized software 106 $ 199,598 $ 191,863 Customer relationships 120 351,555 351,555 Trademarks and tradenames 120 55,003 55,003 Total intangible assets 606,156 598,421 Less: accumulated amortization (554,012) (534,822) Total other intangible assets, net $ 52,144 $ 63,599

Leases (Tables)

Leases (Tables)	6 Months Ended
Leases (Tables)	Sep. 30, 2023
Leases [Abstract]
Schedule of Lease Expense and Supplemental Cash Flow Information	The following table presents information about leases on the condensed consolidated statements of operations (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Operating lease expense (1) $ 3,831 $ 3,071 $ 7,600 $ 5,995 Short-term lease expense $ 507 $ 429 $ 1,006 $ 851 Variable lease expense $ 344 $ 164 $ 732 $ 376 _________________ (1) Presented gross of sublease income. The following table presents supplemental cash flow information about the Company’s leases (in thousands): Six Months Ended September 30, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities $ 9,090 $ 7,563 Operating lease assets obtained in exchange for new operating lease liabilities (1) $ 9,387 $ 13,713 _________________ (1) Includes the impact of new leases as well as remeasurements and modifications of existing leases.
Schedule of Maturities of Lease Liabilities	As of September 30, 2023, remaining maturities of lease liabilities were as follows (in thousands): Fiscal Years Ending March 31, Amount 2024 $ 9,581 2025 17,230 2026 14,100 2027 12,928 2028 8,697 Thereafter 23,033 Total operating lease payments (1) 85,569 Less: imputed interest (9,800) Total operating lease liabilities $ 75,769 _________________ (1) Presented gross of sublease income.

Share-based Compensation (Table

Share-based Compensation (Tables)	6 Months Ended
Share-based Compensation (Tables)	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Activity for Stock Options	The following table summarizes activity for stock options during the six months ended September 30, 2023: Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (per share) (years) (in thousands) Balance, March 31, 2023 4,636 $ 22.25 6.5 $ 94,565 Exercised (790) 21.04 Forfeited or expired (37) 44.15 Balance, September 30, 2023 3,809 $ 22.29 6.0 $ 93,850 Options vested and expected to vest at September 30, 2023 3,809 $ 22.29 6.0 $ 93,850 Options vested and exercisable at September 30, 2023 3,464 $ 20.85 5.9 $ 90,115
Summary of Activity for Restricted Shares	The following table provides a summary of the changes in the number of restricted stock awards (“RSAs”) and restricted stock units (“RSUs”) for the six months ended September 30, 2023: Number of Weighted Average Grant Date Fair Value Number of RSUs Weighted Average (in thousands) (per share) (in thousands) (per share) Balance, March 31, 2023 4 $ 16.00 8,836 $ 41.76 Granted — — 4,934 52.06 Vested (4) 16.00 (2,780) 39.83 Forfeited — — (264) 43.78 Balance, September 30, 2023 — $ — 10,726 $ 46.95
Schedule of Share-based Compensation Expense	The following table summarizes the components of total share-based compensation expense included in the condensed consolidated financial statements for each period presented (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Cost of revenue $ 7,197 $ 5,235 $ 12,685 $ 9,125 Research and development 18,177 10,997 31,441 18,282 Sales and marketing 18,877 13,938 32,876 24,014 General and administrative 13,707 10,484 21,474 17,928 Total share-based compensation $ 57,958 $ 40,654 $ 98,476 $ 69,349

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
Net Income Per Share (Tables)	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Loss Per Share	The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share data): Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Numerator: Net income $ 35,809 $ 10,526 $ 73,997 $ 12,640 Denominator: Weighted average shares outstanding, basic 293,654 287,190 292,504 286,699 Dilutive effect of stock-based awards 4,140 3,411 4,988 3,734 Weighted average shares outstanding, diluted 297,794 290,601 297,492 290,433 Net income per share, basic $ 0.12 $ 0.04 $ 0.25 $ 0.04 Net income per share, diluted $ 0.12 $ 0.04 $ 0.25 $ 0.04
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	A summary of these weighted-average anti-dilutive common share equivalents is provided in the table below (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Stock options 144 892 152 1,070 Unvested RSAs and RSUs 4,304 2,089 2,926 1,217

Geographic Information (Tables)

Geographic Information (Tables)	6 Months Ended
Geographic Information (Tables)	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of Property and Equipment by Geographical Region	The following table presents property and equipment by geographic region for the periods presented (in thousands): September 30, 2023 March 31, 2023 North America $ 16,533 $ 22,124 Europe, Middle East and Africa 28,522 29,142 Asia Pacific 1,726 2,194 Latin America 165 116 Total property and equipment, net $ 46,946 $ 53,576

Significant Accounting Polici_4

Significant Accounting Policies - Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Reclassification [Line Items]
Research and development	$ 74,084	$ 52,905	$ 140,366	$ 102,316
Sales and marketing	127,605	105,348	252,722	211,021
General and administrative	44,749	38,397	83,843	73,131
Net income	$ 35,809	10,526	$ 73,997	12,640
Previous Method
Reclassification [Line Items]
Research and development		51,907		100,389
Sales and marketing		104,669		209,684
General and administrative		40,074		76,395
Net income		10,526		12,640
Effect of Change
Reclassification [Line Items]
Research and development		998		1,927
Sales and marketing		679		1,337
General and administrative		(1,677)		(3,264)
Net income		$ 0		$ 0

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Amount	$ 351,700	$ 279,326	$ 684,586	$ 546,599
North America
Disaggregation of Revenue [Line Items]
Amount	$ 208,968	$ 167,755	$ 407,505	$ 324,504
North America \| Revenue Benchmark \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk percentage	59%	60%	59%	59%
Europe, Middle East and Africa
Disaggregation of Revenue [Line Items]
Amount	$ 87,764	$ 69,597	$ 170,913	$ 139,745
Europe, Middle East and Africa \| Revenue Benchmark \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk percentage	25%	25%	25%	26%
Asia Pacific
Disaggregation of Revenue [Line Items]
Amount	$ 31,189	$ 27,446	$ 60,997	$ 53,541
Asia Pacific \| Revenue Benchmark \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk percentage	9%	10%	9%	10%
Latin America
Disaggregation of Revenue [Line Items]
Amount	$ 23,779	$ 14,528	$ 45,171	$ 28,809
Latin America \| Revenue Benchmark \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk percentage	7%	5%	7%	5%

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue and Deferred Revenue (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 351,700	$ 279,326	$ 684,586	$ 546,599
Revenue recognized	235,600	192,000	532,900	425,700
Revenue Benchmark \| Geographic Concentration Risk \| UNITED STATES
Disaggregation of Revenue [Line Items]
Total revenue	$ 197,800	$ 158,300	$ 385,800	$ 305,800
Concentration risk percentage	56%	57%	56%	56%

Revenue Recognition - Remaining

Revenue Recognition - Remaining Performance Obligations (Narrative) (Details) $ in Millions	Sep. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 1,793.9
Billed consideration
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	711.4
Unbilled consideration
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 1,082.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	61%
Remaining performance obligation, expected timing of satisfaction, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing of satisfaction, period

Revenue Recognition - Contract

Revenue Recognition - Contract Assets (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2023	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Contract assets	$ 7.6	$ 0.4

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ in Thousands		3 Months Ended	6 Months Ended
Acquisitions - Narrative (Details) $ in Thousands	Aug. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2023 USD ($) reporting_unit
Business Acquisition [Line Items]
Number of reporting units \| reporting_unit			1
Rookout
Business Acquisition [Line Items]
Equity interest acquired	100%
Preliminary purchase consideration	$ 33,500
Estimated fair value of intangible assets acquired	7,800
Transaction costs		$ 1,400	$ 2,000
Rookout \| Developed Technology
Business Acquisition [Line Items]
Estimated fair value of intangible assets acquired	$ 7,800
Estimated useful life of intangible assets acquired	7 years

Acquisitions - Schedule of Reco

Acquisitions - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Aug. 31, 2023	Mar. 31, 2023
Liabilities assumed:
Goodwill	$ 1,309,549		$ 1,281,812
Rookout
Assets acquired:
Cash and cash equivalents		$ 1,073
Accounts receivable, prepaid and other assets		504
Property and equipment		208
Intangible asset		7,800
Total assets acquired		9,585
Liabilities assumed:
Accounts payable, accrued and other liabilities		3,086
Deferred revenue		1,003
Total liabilities assumed		4,089
Net assets acquired		5,496
Fair value of consideration transferred		33,464
Goodwill		$ 27,968

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets, Net - Schedule of Goodwill (Details) $ in Thousands	6 Months Ended
	Sep. 30, 2023 USD ($)
Goodwill [Roll Forward]
Balance, beginning of period	$ 1,281,812
Goodwill from Rookout acquisition	27,968
Foreign currency impact	(231)
Balance, end of period	$ 1,309,549

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets, Net - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 606,156	$ 598,421
Less: accumulated amortization	(554,012)	(534,822)
Total other intangible assets, net	$ 52,144	63,599
Capitalized software
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life (in months)	106 months
Total intangible assets	$ 199,598	191,863
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life (in months)	120 months
Total intangible assets	$ 351,555	351,555
Trademarks and tradenames
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life (in months)	120 months
Total intangible assets	$ 55,003	$ 55,003

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of other intangibles	$ 9.5	$ 10.5	$ 19.2	$ 21.1

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
Income Taxes (Details)	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Effective tax rate	12%	43.60%	10.20%	62.10%

Long-term Debt (Details)

Long-term Debt (Details) - USD ($)		3 Months Ended	6 Months Ended
Long-term Debt (Details) - USD ($)	Dec. 02, 2022	Dec. 31, 2022	Sep. 30, 2023	Mar. 31, 2023
First Lien Term Loan \| Secured Debt
Line of Credit Facility [Line Items]
Debt instrument, face amount			$ 950,000,000
Loss on extinguishment of debt		$ 5,900,000
First Lien Term Loan \| Secured Debt \| Alternative Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable interest rate			1.25%
First Lien Term Loan \| Secured Debt \| London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Basis spread on variable interest rate			2.25%
Revolving Credit Facility \| Credit Agreement \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 400,000,000
Long-term line of credit			$ 0	$ 0
Available borrowing capacity			387,900,000	384,500,000
Fronting fee percentage	0.125%
Debt issuance costs, gross				1,900,000
Debt issuance costs			1,600,000	1,800,000
Revolving Credit Facility \| Credit Agreement \| Line of Credit \| Minimum
Line of Credit Facility [Line Items]
Commitment fee percentage	0.175%
Revolving Credit Facility \| Credit Agreement \| Line of Credit \| Maximum
Line of Credit Facility [Line Items]
Commitment fee percentage	0.35%
Revolving Credit Facility \| Credit Agreement \| Line of Credit \| Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	0.10%
Revolving Credit Facility \| Revolving Facility \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity			60,000,000
Bridge Loan \| Credit Agreement \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 30,000,000
Letter of Credit \| Credit Agreement \| Line of Credit
Line of Credit Facility [Line Items]
Debt instrument, face amount	45,000,000
Letters of credit issued			12,100,000	$ 15,500,000
Letter of Credit \| Revolving Facility \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 25,000,000
Foreign Line of Credit \| Credit Agreement \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 100,000,000

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Lessee, Lease, Description [Line Items]
Weighted average remaining lease term	6 years 1 month 6 days		6 years 1 month 6 days
Weighted average discount rate	4.50%		4.50%
Sublease Income	$ 0.5	$ 0.5	$ 1.1	$ 1.1
Operating lease that has not yet commenced	$ 74.3		$ 74.3
Minimum
Lessee, Lease, Description [Line Items]
Operating lease that has not yet commenced, term	2 years		2 years
Maximum
Lessee, Lease, Description [Line Items]
Operating lease that has not yet commenced, term	10 years		10 years

Leases - Schedule of Lease Expe

Leases - Schedule of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Leases [Abstract]
Operating lease expense	$ 3,831	$ 3,071	$ 7,600	$ 5,995
Short-term lease expense	507	429	1,006	851
Variable lease expense	$ 344	$ 164	$ 732	$ 376

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 9,090	$ 7,563
Operating lease assets obtained in exchange for new operating lease liabilities	$ 9,387	$ 13,713

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Lease Liabilities (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Leases [Abstract]
2024	$ 9,581
2025	17,230
2026	14,100
2027	12,928
2028	8,697
Thereafter	23,033
Total operating lease payments	85,569
Less: imputed interest	(9,800)
Total operating lease liabilities	$ 75,769

Share-based Compensation - Narr

Share-based Compensation - Narrative (Details) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jul. 31, 2019 shares	Sep. 30, 2023 USD ($) shares	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) installment shares	Sep. 30, 2022 USD ($)	Mar. 31, 2023 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost		$ 4,200		$ 4,200
Stock compensation expense		57,958	$ 40,654	$ 98,476	$ 69,349
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period of recognition				9 months 18 days
Stock compensation expense		$ 2,400	4,000	$ 5,700	9,200
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period of recognition				2 years 3 months 18 days
Outstanding shares (in shares) \| shares		10,726,000		10,726,000		8,836,000
Total unrecognized compensation cost		$ 436,000		$ 436,000
Service Condition RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding shares (in shares) \| shares		9,700,000		9,700,000
Service and performance condition RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding shares (in shares) \| shares		1,000,000		1,000,000
Maximum percentage of shares issued based on performance target award				2
Service and performance condition RSUs \| Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage				33%
Award vesting period				1 year
Service and performance condition RSUs \| Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage				67%
Award vesting period				2 years
Number of equal installments \| installment				8
Unvested RSAs and RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense		$ 53,800	34,700	$ 89,300	56,700
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ESPP offering period	6 months
ESPP purchase period	6 months
Employee Stock \| Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ESPP, maximum percentage of the common stock available for purchase	85%
2019 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units authorized for issuance (in shares) \| shares	52,000,000	50,714,239		50,714,239
Annual increase in shares reserved for future issuance based off of shares outstanding	4%
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense		$ 1,700	$ 2,000	$ 3,400	$ 3,500
Total unrecognized compensation cost		$ 1,300		$ 1,300
ESPP \| Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units authorized for issuance (in shares) \| shares		16,085,682		16,085,682
Issuance of common stock related to employee stock purchase plan (in shares) \| shares				313,127

Share-based Compensation - Sche

Share-based Compensation - Schedule of Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($) $ / shares shares	Mar. 31, 2023 USD ($) $ / shares shares
Number of Options
Beginning balance (in shares) \| shares	4,636
Exercised (in shares) \| shares	(790)
Forfeited or expired (in shares) \| shares	(37)
Ending balance (in shares) \| shares	3,809	4,636
Options vested and expected to vest (in shares) \| shares	3,809
Options vested and exercisable (in shares) \| shares	3,464
Weighted Average Exercise Price
Beginning balance (in dollars per share) \| $ / shares	$ 22.25
Exercised (in dollars per share) \| $ / shares	21.04
Forfeited or expired (in dollars per share) \| $ / shares	44.15
Ending valance (in dollars per share) \| $ / shares	22.29	$ 22.25
Weighted average exercise price, options vested and expected to vest (in dollars per share) \| $ / shares	22.29
Weighted average exercise price, options vested and exercisable (in dollars per share) \| $ / shares	$ 20.85
Weighted average remaining contractual term	6 years	6 years 6 months
Weighted average remaining contractual term, options vested and expected to vest	6 years
Weighted average remaining contractual term, options vested and exercisable	5 years 10 months 24 days
Aggregate intrinsic value \| $	$ 93,850	$ 94,565
Aggregate intrinsic value, options vested and expected to vest \| $	93,850
Aggregate intrinsic value, options vested and exercisable \| $	$ 90,115
Restricted Stock
Number of Restricted Shares
Beginning balance (in shares) \| shares	4
Granted (in shares) \| shares	0
Vested (in shares) \| shares	(4)
Forfeited (in shares) \| shares	0
Ending balance (in shares) \| shares	0	4
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) \| $ / shares	$ 16
Granted (in dollars per share) \| $ / shares	0
Vested (in dollars per share) \| $ / shares	16
Forfeited (in dollars per share) \| $ / shares	0
Ending balance (in dollars per share) \| $ / shares	$ 0	$ 16
Restricted Stock Units (RSUs)
Number of Restricted Shares
Beginning balance (in shares) \| shares	8,836
Granted (in shares) \| shares	4,934
Vested (in shares) \| shares	(2,780)
Forfeited (in shares) \| shares	(264)
Ending balance (in shares) \| shares	10,726	8,836
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) \| $ / shares	$ 41.76
Granted (in dollars per share) \| $ / shares	52.06
Vested (in dollars per share) \| $ / shares	39.83
Forfeited (in dollars per share) \| $ / shares	43.78
Ending balance (in dollars per share) \| $ / shares	$ 46.95	$ 41.76

Share-based Compensation - Sc_2

Share-based Compensation - Schedule of Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	$ 57,958	$ 40,654	$ 98,476	$ 69,349
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	7,197	5,235	12,685	9,125
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	18,177	10,997	31,441	18,282
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	18,877	13,938	32,876	24,014
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	$ 13,707	$ 10,484	$ 21,474	$ 17,928

Net Income Per Share - Summary

Net Income Per Share - Summary of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator:
Net income	$ 35,809	$ 10,526	$ 73,997	$ 12,640
Denominator:
Weighted average shares outstanding, basic (in shares)	293,654	287,190	292,504	286,699
Dilutive effect of stock-based awards (in shares)	4,140	3,411	4,988	3,734
Weighted average shares outstanding, diluted (in shares)	297,794	290,601	297,492	290,433
Net income per share, basic (in dollars per share)	$ 0.12	$ 0.04	$ 0.25	$ 0.04
Net income per share, diluted (in dollars per share)	$ 0.12	$ 0.04	$ 0.25	$ 0.04

Net Income Per Share - Antidilu

Net Income Per Share - Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common share equivalents (in shares)	144	892	152	1,070
Unvested RSAs and RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common share equivalents (in shares)	4,304	2,089	2,926	1,217

Geographic Information (Details

Geographic Information (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	$ 46,946	$ 53,576
North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	16,533	22,124
Europe, Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	28,522	29,142
Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	1,726	2,194
Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Total property and equipment, net	$ 165	$ 116