v3.26.1
Equity - Narrative (Details)
$ / shares in Units, $ in Thousands
1 Months Ended 2 Months Ended 12 Months Ended 23 Months Ended
Jun. 08, 2021
vote
$ / shares
shares
Jul. 31, 2025
USD ($)
Oct. 31, 2021
USD ($)
$ / shares
shares
Mar. 31, 2026
USD ($)
plan
$ / shares
shares
Mar. 31, 2026
USD ($)
plan
$ / shares
shares
Mar. 31, 2025
USD ($)
$ / shares
shares
Mar. 31, 2024
USD ($)
Mar. 31, 2018
shares
Mar. 31, 2026
USD ($)
plan
$ / shares
shares
Feb. 03, 2026
USD ($)
May 01, 2024
USD ($)
Jun. 30, 2021
$ / shares
shares
Mar. 31, 2017
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                          
Preferred stock, authorized (in shares)       100,000,000 100,000,000 100,000,000     100,000,000     100,000,000  
Preferred stock, par value (in dollars per share) | $ / shares       $ 0.001 $ 0.001 $ 0.001     $ 0.001     $ 0.001  
Preferred stock, issued (in shares)       0 0 0     0        
Preferred stock, outstanding (in shares)       0 0 0     0        
Common stock, authorized (in shares)       1,500,000,000 1,500,000,000 1,500,000,000     1,500,000,000        
Common stock, par value (in dollars per share) | $ / shares       $ 0.001 $ 0.001 $ 0.001     $ 0.001        
Common stock, outstanding (in shares)       183,060,000 183,060,000 188,875,000     183,060,000        
Stock repurchase program, authorized amount | $                   $ 500,000 $ 500,000    
Repurchase and retirement of common stock (in shares)       321,080         11,591,950        
Repurchase and retirement of common stock | $       $ 7,500 $ 434,011 $ 116,288 $ 285,460            
Stock repurchase program, remaining authorized repurchase amount | $       $ 492,500 492,500       $ 492,500        
Excise tax incurred | $         $ 2,300 0              
Common stock warrants (in shares)       194,000 194,000       194,000        
Stock based compensation expense | $         $ 121,627 $ 72,386 51,076            
Unamortized compensation expense, weighted average period of recognition         1 year 2 months 23 days                
Number of equity incentive plans | plan       3 3       3        
Options outstanding (in shares)       10,464,000 10,464,000 13,013,000     10,464,000        
Aggregate intrinsic value of options | $         $ 118,700 $ 193,900 99,500            
Unamortized compensation expense, option | $       $ 4,600 $ 4,600       $ 4,600        
Stock options                          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                          
Award vesting period         4 years                
Expiration period from the date of grant         10 years                
RSUs                          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                          
Unamortized compensation expense excluding option | $       $ 120,100 $ 120,100       $ 120,100        
Unamortized compensation expense, weighted average period of recognition         1 year 10 months 20 days                
Total fair value of vested equity instruments | $         $ 100,200 $ 73,500 19,900            
Unvested (in shares)       3,341,000 3,341,000 3,347,000     3,341,000        
RSUs | Minimum                          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                          
Award vesting period         2 years                
RSUs | Maximum                          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                          
Award vesting period         4 years                
PSUs                          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                          
Stock based compensation expense | $         $ 19,500                
Unamortized compensation expense excluding option | $       $ 48,000 $ 48,000       $ 48,000        
Unamortized compensation expense, weighted average period of recognition         1 year 1 month 20 days                
Retention and incentive equity award | $   $ 30,000                      
Maximum percentage earned of shares originally granted (percent)   300.00%                      
Compensation committee approved PSUs shares (in shares)       1,963,338 1,963,338       1,963,338        
Unvested (in shares)       2,584,000 2,584,000 480,000     2,584,000        
Performance-Based Restricted Stock Units, Granted                          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                          
Unvested (in shares)       2,400,000 2,400,000       2,400,000        
2021 Plan                          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                          
Maximum annual increase of shares reserved for future issuance as a percentage of common stock outstanding                       5.00%  
2021 ESPP                          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                          
Maximum annual increase of shares reserved for future issuance as a percentage of common stock outstanding       1.00% 1.00%       1.00%        
Maximum annual increase of shares reserved for future issuance (in shares)       6,750,000 6,750,000       6,750,000        
Options outstanding outside the Plans                          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                          
Options granted (in shares)               4,682,582          
Options exercised (in shares)       2,114,582 2,114,582       2,114,582        
Options outstanding (in shares)       2,568,000 2,568,000       2,568,000        
Contract With U.S. News & World Report, L.P.                          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                          
Common stock warrants (in shares)                         250,000
Exercise price called by warrants (in dollars per share) | $ / shares                         $ 0.72
Warrants exercised in period , intrinsic value | $             6,700            
U.S. News Warrant                          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                          
Common stock warrants (in shares)     516,000                    
Exercise price called by warrants (in dollars per share) | $ / shares     $ 12.56                    
Warrants exercised in period , intrinsic value | $         $ 3,500                
Warrants and rights outstanding, term     10 years                    
Warrants and rights outstanding, vesting period     6 years 5 months 23 days                    
Warrants and rights outstanding | $     $ 34,700                    
Stock based compensation expense | $         $ 5,400 $ 5,400 $ 5,400            
Outstanding shares under warrant (in shares)       193,500 193,500 279,500     193,500        
Shares exercised under warrant (in shares)         86,000                
Unamortized compensation expense excluding option | $       $ 10,700 $ 10,700       $ 10,700        
Unamortized compensation expense, weighted average period of recognition         2 years                
U.S. News Warrant | Share-Based Payment Arrangement, Subsequent to Tranche One                          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                          
Warrants and rights outstanding, vesting period     6 years                    
Common Class A                          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                          
Common stock, authorized (in shares) 1,000,000,000                        
Common stock, par value (in dollars per share) | $ / shares $ 0.001                        
Common stock, number of votes per share | vote 1                        
Common stock, outstanding (in shares)       132,163,035 132,163,035       132,163,035        
Common Class B                          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                          
Common stock, authorized (in shares) 500,000,000                        
Common stock, par value (in dollars per share) | $ / shares $ 0.001                        
Common stock, number of votes per share | vote 10                        
Conversion of stock conversion ratio 1                        
Common stock, outstanding (in shares)       50,896,611 50,896,611       50,896,611