v3.26.1
Share-based Compensation (Tables)
 12 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-based Compensation Expense
The following table summarizes the components of total share-based compensation expense included in the consolidated statements of operations for each period presented (in thousands):

Fiscal Year Ended March 31,
202620252024
Cost of revenue$40,276 $36,924 $26,622 
Research and development114,110 100,866 69,543 
Sales and marketing84,480 77,336 65,762 
General and administrative60,760 56,577 46,969 
Total share-based compensation expense$299,626 $271,703 $208,896 
Schedule of Restricted Stock Activity
The following table provides a summary of the changes in the number of RSUs and RSAs for the year ended March 31, 2026:
Number of RSUs
Weighted Average
Grant Date Fair Value
Number of RSAs
Weighted Average
Grant Date Fair Value
(in thousands)(per share)(in thousands)(per share)
Balance, March 31, 202510,024 $48.33 95 $49.05 
Granted7,132 53.72 4149.05 
Vested(5,679)47.97 (75)49.05 
Forfeited(1,074)50.85 — — 
Balance, March 31, 202610,403 $51.96 61 $49.05 
Schedule of Share-Based Payment Award, Estimated Fair Value Of rTSR PSUs, Valuation Assumptions
The Company estimated the fair value of rTSR PSUs on grant date using the Monte Carlo simulation model with the following assumptions:
Fiscal Year Ended March 31,
20262025
Expected dividend yield——
Expected volatility of the Company
35.3%
44.5% - 44.8%
Average expected volatility of peer group
49.0%
48.5% - 49.2%
Expected term (years)
0.8 - 2.8
0.6 - 2.8
Risk-free interest rate
3.9%
3.9% - 4.5%
Schedule of Activity for Stock Options
The following table summarizes activity for stock options during the period ended March 31, 2026:
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, 20252,072 $22.07 
Exercised(315)20.63 
Forfeited or expired(30)34.99 
Balance, March 31, 20261,727 $22.11 3.6$26,877 
Options vested and expected to vest at March 31, 20261,727 $22.11 3.6$26,877 
Options vested and exercisable at March 31, 20261,727 $22.11 3.6$26,877 
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions
The Company estimated the fair value of the ESPP purchase rights using a Black-Scholes option pricing model with the following assumptions:
Fiscal Year Ended March 31,
202620252024
Expected dividend yield— — — 
Expected volatility
30.5% - 35.1%
27.1% - 32.2%
32.2% - 51.6%
Expected term (years)0.50.50.5
Risk-free interest rate
3.7% - 4.3%
4.3% - 5.4%
4.7% - 5.4%