v3.25.4
Segment and Geographic Information
 9 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment and Geographic Information Segment and Geographic Information
The Company’s chief operating decision maker (“CODM”) is its Chief Executive Officer. The CODM uses consolidated net income for purposes of making operating decisions, assessing financial performance and allocating resources in the budget and forecasting process and budget-to-actual reviews. As such, the Company has determined that it operates as one operating and reportable segment.
The CODM also utilizes expense information in order to assess the Company’s financial performance. The Company’s significant expenses and other segment items, as included in consolidated net income, are provided in the table below (in thousands):
Three Months Ended December 31,Nine Months Ended December 31,
2025202420252024
Revenue$515,473 $436,169 $1,486,671 $1,253,518 
Adjusted cost of revenue(1)
83,914 68,515 235,622 193,519 
Adjusted research and development expenses(1)
90,370 69,991 252,396 201,031 
Adjusted sales and marketing expenses(1)
151,687 132,901 439,216 383,226 
Adjusted general and administrative expenses(1)
36,074 34,028 110,084 100,089 
Share-based compensation and related employer payroll taxes79,812 75,433 238,711 212,973 
Amortization of intangibles878 7,731 2,597 26,055 
Other segment items(2)
32,683 (314,182)62,792 (307,755)
Segment net income$40,055 $361,752 $145,253 $444,380 
Consolidated net income$40,055 $361,752 $145,253 $444,380 
(1) Excludes share-based compensation; employer payroll taxes on employee stock transactions; amortization of intangibles; and transaction, restructuring and other-non-recurring or unusual items, which are independently reviewed by the CODM.
(2) Other segment items primarily includes interest income, net; other (expense) income, net; and income tax (expense) benefit, as reported in the condensed consolidated statements of operations. Other segment items also includes $0.1 million of transaction, restructuring, and other non-recurring or unusual items for the three and nine months ended December 31, 2024. There were no transaction, restructuring, and other non-recurring or unusual items for the three and nine months ended December 31, 2025.
Revenue
Revenues by geography are based on the location of the customer (or end-customer under partner transactions). Refer to Note 3, Revenue Recognition, for a disaggregation of revenue by geographic region.
Long-lived assets, net
The following table presents the Company’s long-lived assets, net, which consists of property and equipment, net, and operating lease right-of-use asset, net, by geographic region for the periods presented (in thousands):
December 31, 2025March 31, 2025
North America$46,272 $36,522 
Europe, Middle East and Africa92,406 88,255 
Asia Pacific4,862 3,577 
Latin America597 647 
Total long-lived assets, net$144,137 $129,001