v3.26.3
Segment Information
 6 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Segment Information

10. Segment Information

Operating segments represent components of an entity for which discrete financial information is available to the entity’s chief operating decision maker (“CODM”). Our Chief Executive Officer is our CODM.

We operate as a single operating segment providing software solutions to the global hospitality industry as our CODM reviews the financial information presented on a consolidated basis to allocate resources, assess financial performance, and make operating decisions. During our budgeting and forecasting process, our CODM allocates resources including employees, equipment and financial resources. Our CODM regularly considers forecast-to-actual variances to assess financial performance and to make operating decisions around product development, pricing, employee compensation, and for investments in information security and technology infrastructure, and in market development. The Company’s measure of segment profit or loss is net income as shown in our Consolidated Statements of Operations.

Our CODM reviews segment assets, reported as total assets on our Consolidated Balance Sheets, and capital expenditures, as reported in our Consolidated Statements of Cash Flows.

The segment accounting policies are the same as those we describe in Note 2, Summary of Significant Accounting Policies, except that certain expense allocations we make for presentation of Cost of goods sold as reported in our Consolidated Statements of Operations in accordance with U.S. GAAP, primarily for employee compensation, are not applied to cost of revenue as reported in the table below.

The significant expense categories and consolidated net income provided to the CODM for the three and six months ended September 30, 2026 and 2025 are as follows:

 

 

Three Months Ended September 30,

 

 

Six Months Ended September 30,

 

(In thousands)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Net revenue:

 

 

 

 

 

 

 

 

 

 

 

 

Subscription and maintenance

 

$

62,160

 

 

$

50,955

 

 

$

119,902

 

 

$

99,579

 

Professional services

 

 

19,210

 

 

 

18,249

 

 

 

38,803

 

 

 

36,347

 

Products

 

 

11,990

 

 

 

10,095

 

 

 

22,333

 

 

 

20,050

 

Total net revenue

 

 

93,360

 

 

 

79,299

 

 

 

181,038

 

 

 

155,976

 

Cost of revenue (1)

 

 

16,130

 

 

 

12,893

 

 

 

31,243

 

 

 

25,396

 

Product development expenses (1)

 

 

17,166

 

 

 

16,636

 

 

 

34,651

 

 

 

32,940

 

Sales and marketing expenses (1)

 

 

11,132

 

 

 

9,555

 

 

 

22,923

 

 

 

21,012

 

Professional services expenses (1)

 

 

11,565

 

 

 

11,306

 

 

 

22,930

 

 

 

22,067

 

Customer support expenses (1)

 

 

4,068

 

 

 

3,941

 

 

 

8,282

 

 

 

7,775

 

General and administrative expenses (1)

 

 

9,247

 

 

 

8,706

 

 

 

18,838

 

 

 

18,158

 

Share-based compensation

 

 

6,293

 

 

 

5,000

 

 

 

12,281

 

 

 

10,029

 

Other segment items (2)

 

 

4,582

 

 

 

(448

)

 

 

7,721

 

 

 

1,999

 

Net income

 

$

13,177

 

 

$

11,710

 

 

$

22,169

 

 

$

16,600

 

 

(1)

 

Exclusive of share-based compensation shown separately

(2)

 

Other segment items include depreciation, amortization of internal-use software and intangibles, legal settlements, interest income and expense, other non-operating income and expense, income tax provisions, and other (gains) charges, net

Revenue from external customers attributed to the U.S. was 89% and 86%, and 88% and 86% for the three and six months ended September 30, 2026 and 2025, respectively, of total revenue. Revenue from external customers attributed to any individual foreign country is immaterial. We attribute revenue from external customers based on their ship to location. Our customer base is highly fragmented.

The following table lists long-lived assets by geographical area, which includes property and equipment, net and operating lease right-of-use assets as of September 30, 2026 and March 31, 2026:

(In thousands)

 

September 30,
2026

 

 

March 31,
2026

 

United States

 

$

14,353

 

 

$

15,327

 

India

 

 

10,382

 

 

 

11,727

 

Rest of world (1)

 

 

694

 

 

 

719

 

Total long-lived assets

 

$

25,429

 

 

$

27,773

 

 

(1)

 

No individual country other than the United States and India exceeded 10% of our total long-lived assets for any period presented