0001169561-21-000018 | 10-K | XBRL Viewer

Cover Page - USD ($) $ in Billions	12 Months Ended
Cover Page - USD ($) $ in Billions	Mar. 31, 2021	May 10, 2021	Sep. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Mar. 31, 2021
Current Fiscal Year End Date	--03-31
Document Transition Report	false
Entity File Number	1-33026
Entity Registrant Name	COMMVAULT SYSTEMS INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	22-3447504
Entity Address, Address Line One	1 Commvault Way
Entity Address, City or Town	Tinton Falls
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07724
City Area Code	732
Local Phone Number	870-4000
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	CVLT
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 1.9
Entity Common Stock, Shares Outstanding		46,026,243
Documents Incorporated by Reference	Information required by Part III (Items 10, 11, 12, 13 and 14) is incorporated by reference to portions of the registrant’s definitive Proxy Statement for its 2021 Annual Meeting of Stockholders (the “Proxy Statement”), which is expected to be filed not later than 120 days after the registrant’s fiscal year ended March 31, 2021. Except as expressly incorporated by reference, the Proxy Statement shall not be deemed to be part of this report on Form 10-K.
Entity Central Index Key	0001169561
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Current assets:
Cash and cash equivalents	$ 397,237	$ 288,082
Restricted cash	0	8,000
Short-term investments	0	43,645
Trade accounts receivable, net	188,126	146,990
Other current assets	22,237	26,969
Total current assets	607,600	513,686
Property and equipment, net	112,779	114,519
Operating lease assets	20,778	15,009
Deferred commissions cost	38,444	31,394
Intangible assets, net	0	46,350
Goodwill	112,435	112,435
Other assets	12,137	11,683
Total assets	904,173	845,076
Current liabilities:
Accounts payable	374	307
Accrued liabilities	112,148	87,051
Current portion of operating lease liabilities	7,469	7,699
Deferred revenue	253,211	233,497
Total current liabilities	373,202	328,554
Deferred revenue, less current portion	119,231	92,723
Deferred tax liabilities, net	761	849
Long-term operating lease liabilities	15,419	8,808
Other liabilities	1,526	2,238
Commitments and contingencies (Note 8)
Stockholders’ equity:
Preferred stock, $0.01 par value: 50,000 shares authorized, no shares issued and outstanding	0	0
Common stock, $0.01 par value, 250,000 shares authorized, 46,482 shares and 46,011 shares issued and outstanding at March 31, 2021 and 2020, respectively	463	458
Additional paid-in capital	1,069,695	978,659
Accumulated deficit	(665,774)	(553,790)
Accumulated other comprehensive loss	(10,350)	(13,423)
Total stockholders’ equity	394,034	411,904
Total liabilities and stockholders’ equity	$ 904,173	$ 845,076

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2021	Mar. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	46,482,000	46,011,000
Common stock, shares outstanding (in shares)	46,482,000	46,011,000

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Revenues:
Total revenues	$ 723,472	$ 670,885	$ 710,957
Cost of revenues:
Total cost of revenues	109,373	117,078	117,006
Gross margin	614,099	553,807	593,951
Operating expenses:
Sales and marketing	331,948	335,785	370,088
Research and development	133,401	110,020	92,647
General and administrative	92,214	92,130	100,946
Restructuring	23,471	21,348	14,765
Impairment of intangible assets	40,700	0	0
Depreciation and amortization	14,628	15,815	10,597
Net change in contingent consideration	0	(3,783)	0
Total operating expenses	636,362	571,315	589,043
Income (loss) from operations	(22,263)	(17,508)	4,908
Interest income	1,028	4,962	5,519
Income (loss) before income taxes	(21,235)	(12,546)	10,427
Income tax expense (benefit)	9,719	(6,901)	6,866
Net income (loss)	$ (30,954)	$ (5,645)	$ 3,561
Net income (loss) per common share:
Basic (in dollars per share)	$ (0.66)	$ (0.12)	$ 0.08
Diluted (in dollars per share)	$ (0.66)	$ (0.12)	$ 0.07
Weighted average common shares outstanding:
Basic (in shares)	46,652	45,793	45,827
Diluted (in shares)	46,652	45,793	47,601
Software and products
Revenues:
Total revenues	$ 326,843	$ 275,308	$ 309,899
Cost of revenues:
Total cost of revenues	27,218	28,082	25,691
Services
Revenues:
Total revenues	396,629	395,577	401,058
Cost of revenues:
Total cost of revenues	$ 82,155	$ 88,996	$ 91,315

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (30,954)	$ (5,645)	$ 3,561
Other comprehensive income (loss):
Foreign currency translation adjustment	3,073	(1,855)	(6,096)
Comprehensive loss	$ (27,881)	$ (7,500)	$ (2,535)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss
Beginning Balance (in shares) at Mar. 31, 2018			45,118
Beginning Balance at Mar. 31, 2018	$ 404,064		$ 450	$ 782,764	$ (373,678)		$ (5,472)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	80,487			80,487
Share issuances related to stock-based compensation (in shares)			2,579
Share issuances related to stock-based compensation	41,984		$ 25	41,959
Repurchase of common stock (in shares)			(2,115)
Repurchase of common stock	(132,697)		$ (21)	(17,303)	(115,373)
Net income (loss)	3,561				3,561
Other comprehensive income (loss)	(6,096)						(6,096)
Ending Balance (in shares) at Mar. 31, 2019			45,582
Ending Balance at Mar. 31, 2019	$ 391,303		$ 454	887,907	(485,490)		(11,568)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Stock-based compensation	$ 65,888			65,888
Share issuances related to business combinations	1,616			1,616
Share issuances related to stock-based compensation (in shares)			2,131
Share issuances related to stock-based compensation	37,795		$ 21	37,774
Repurchase of common stock (in shares)			(1,702)
Repurchase of common stock	(77,198)		$ (17)	(14,526)	(62,655)
Net income (loss)	(5,645)				(5,645)
Other comprehensive income (loss)	(1,855)						(1,855)
Ending Balance (in shares) at Mar. 31, 2020			46,011
Ending Balance at Mar. 31, 2020	411,904	$ (84)	$ 458	978,659	(553,790)	$ (84)	(13,423)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	84,833			84,833
Share issuances related to stock-based compensation (in shares)			2,115
Share issuances related to stock-based compensation	$ 20,521		$ 21	20,500
Repurchase of common stock (in shares)	(1,643)		(1,644)
Repurchase of common stock	$ (95,259)		$ (16)	(14,297)	(80,946)
Net income (loss)	(30,954)				(30,954)
Other comprehensive income (loss)	3,073						3,073
Ending Balance (in shares) at Mar. 31, 2021			46,482
Ending Balance at Mar. 31, 2021	$ 394,034		$ 463	$ 1,069,695	$ (665,774)		$ (10,350)

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities
Net income (loss)	$ (30,954,000)	$ (5,645,000)	$ 3,561,000
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	15,878,000	17,065,000	12,060,000
Noncash stock-based compensation	84,833,000	65,888,000	80,487,000
Non-cash change in contingent consideration	0	(3,783,000)	0
Impairment of intangible assets	40,700,000	0	0
Deferred income taxes	(92,000)	(1,783,000)	164,000
Amortization of deferred commissions cost	18,318,000	17,717,000	17,348,000
Impairment of operating lease assets	1,684,000	2,761,000	0
Changes in operating assets and liabilities:
Trade accounts receivable	(34,622,000)	26,096,000	(24,092,000)
Operating lease assets and liabilities, net	(1,157,000)	(1,226,000)	0
Other current assets and Other assets	11,887,000	(1,246,000)	11,400,000
Deferred commissions cost	(24,095,000)	(16,063,000)	(18,967,000)
Accounts payable	49,000	(2,474,000)	1,485,000
Accrued liabilities	10,660,000	(1,997,000)	5,075,000
Deferred revenue	31,740,000	(6,230,000)	21,719,000
Other liabilities	(874,000)	(616,000)	(60,000)
Net cash provided by operating activities	123,955,000	88,464,000	110,180,000
Cash flows from investing activities
Purchase of short-term investments	0	(43,645,000)	(130,338,000)
Proceeds from maturity of short-term investments	43,645,000	130,338,000	131,637,000
Purchase of property and equipment	(8,176,000)	(3,203,000)	(6,560,000)
Business combination, net of cash acquired	0	(157,495,000)	0
Net cash provided by (used in) investing activities	35,469,000	(74,005,000)	(5,261,000)
Cash flows from financing activities
Repurchase of common stock	(95,259,000)	(77,198,000)	(132,697,000)
Proceeds from stock-based compensation plans	20,521,000	37,795,000	41,984,000
Net cash used in financing activities	(74,738,000)	(39,403,000)	(90,713,000)
Effects of exchange rate — changes in cash	16,469,000	(6,966,000)	(16,998,000)
Net increase (decrease) in cash, cash equivalents and restricted cash	101,155,000	(31,910,000)	(2,792,000)
Cash, cash equivalents and restricted cash at beginning of year	296,082,000	327,992,000	330,784,000
Cash, cash equivalents and restricted cash at end of year	397,237,000	296,082,000	327,992,000
Supplemental disclosures of cash flow information
Income taxes paid	$ 2,959,000	$ 6,002,000	$ 11,491,000

Nature of Business	12 Months Ended
Nature of Business	Mar. 31, 2021
Accounting Policies [Abstract]
Nature of Business	Nature of BusinessCommvault Systems, Inc. and its subsidiaries ("Commvault," "we," "us," or "our") is a provider of data protection and information management software applications and products. We develop, market and sell a suite of software applications and services, globally, that provides our customers with data protection solutions. We also provide our customers with a broad range of professional and customer support services, including backup-as-a-service, branded as Metallic.

Summary of Significant Accounting Policies

12 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation

The consolidated financial statements include the accounts of Commvault. All intercompany transactions and balances have been eliminated in consolidation.

Use of Estimates

The preparation of financial statements and related disclosures in conformity with U.S. generally accepted accounting principles ("U.S. GAAP") requires management to make judgments and estimates that affect the amounts reported in our consolidated financial statements and the accompanying notes. We base our estimates and judgments on historical experience and on various other assumptions that we believe are reasonable under the circumstances. The amounts of assets and liabilities reported in our balance sheets and the amounts of revenues and expenses reported for each of the periods presented are affected by estimates and assumptions, which are used for, but not limited to, the accounting for revenue recognition, income taxes and related reserves, and goodwill and purchased intangible assets. Actual results could differ from those estimates.

Revenue

We account for revenue in accordance with Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers ("ASC 606"). For a further discussion of our accounting policies related to revenue see Note 3 of the consolidated financial statements.

Shipping and Handling Costs

Shipping and handling costs are included in cost of revenues for all periods presented.

Sales Tax

We record revenue net of sales tax.

Accounting for Stock-Based Compensation

Restricted stock units without a market condition are measured based on the fair market values of the underlying stock on the date of grant. We recognize stock-based compensation expense using the straight-line method for all stock awards that do not include a market or performance condition. Awards that include a market or performance condition are expensed using the accelerated method.

Software Development Costs

Research and development expenditures are charged to operations as incurred. Based on our software development process, technological feasibility is established upon completion of a working model, which also requires certification and extensive testing. Costs incurred by us between completion of the working model and the point at which the product is ready for general release are immaterial.

Advertising Costs

We expense advertising costs as incurred. Advertising expenses were $9,560, $5,579, and $4,678 for the years ended March 31, 2021, 2020 and 2019, respectively.

Accounting for Income Taxes

We account for income taxes in accordance with ASC Topic 740, Income Taxes ("ASC 740"). The provision for income taxes and effective tax rates are calculated by legal entity and jurisdiction and are based on a number of factors, including the level of pre-tax earnings, income tax planning strategies, differences between tax laws and accounting rules, statutory tax rates and credits, uncertain tax positions and valuation allowances. We use significant judgment and estimates in evaluating tax positions. The effective tax rate in a given financial statement period may be materially impacted by changes in the mix and level of earnings by taxing jurisdiction.

Under ASC 740, deferred income taxes arise from temporary differences between the tax basis of assets and liabilities and their reported amounts. Valuation allowances are established when, in our judgment, it is more likely than not that deferred tax assets will not be realized. In assessing the need for a valuation allowance, we weigh the available positive and negative evidence, including historical levels of pre-tax income, legislative developments, expectations and risks associated with estimates of future pre-tax income, and prudent and feasible tax planning strategies.

Foreign Currency Translation

The functional currencies of our foreign operations are deemed to be the local country’s currency. Assets and liabilities of our international subsidiaries are translated at their respective period-end exchange rates, and revenues and expenses are translated at average currency exchange rates for the period. The resulting balance sheet translation adjustments are included in Other comprehensive loss and are reflected as a separate component of Stockholders’ equity.

Foreign currency transaction gains and losses are recorded in General and administrative expenses in the Consolidated Statements of Operations. These gains and losses relate primarily to receivables and payables that are not denominated in the functional currency of the subsidiary they relate to. We recognized net foreign currency transaction losses of $1,918 in the year ended March 31, 2021, and net foreign currency transaction gains of $355 and $984 in the years ended March 31, 2020, and 2019, respectively.

Net Income per Common Share

Basic net income per common share is computed by dividing net income by the weighted average number of common shares during the period. Diluted net income per share is computed using the weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options, vesting of restricted stock units and shares to be purchased under the Employee Stock Purchase Plan. The dilutive effect of such potential common shares is reflected in diluted earnings per share by application of the treasury stock method.

The following table sets forth the reconciliation of basic and diluted common share:


	Year Ended March 31,
	2021	2020	2019




Basic weighted-average shares outstanding	46,652	45,793	45,827
Dilutive effect of stock options, restricted stock units, and employee stock purchase plan	—	—	1,774
Diluted weighted-average shares outstanding	46,652	45,793	47,601

The following table summarizes our potential outstanding common stock equivalents at the end of each period, which have been excluded from the computation of diluted net income per common share, as their effect is anti-dilutive.


	Year Ended March 31,
	2021	2020	2019
Stock options, restricted stock units, and shares under the employee stock purchase plan	5,024	4,933	998

Cash, Cash Equivalents and Restricted Cash

We consider all highly liquid investments purchased with maturities of three months or less at the date of purchase to be cash equivalents, primarily in the form of money market funds. Amounts held in Restricted cash as of March 31, 2020, and classified as such on the Consolidated Balance Sheets, related to a contingent consideration arrangement which required us to pay up to $8,000 of cash, contingent on us receiving one or more bona fide and valid purchase orders from a specified customer, no later than April 30, 2020 (see Note 4).

Short-term Investments

Short-term investments consist of investments with maturities of twelve months or less that do not meet the criteria to be cash equivalents. We determine classification of the investment as trading, available-for-sale or held-to-maturity at the time of purchase and reevaluate classification whenever changes in circumstances indicate changes in classification may be necessary. As of March 31, 2021, we did not hold any short-term investments. Our short-term investments as of March 31, 2020 were classified as held-to-maturity. Held-to-maturity investments consist of securities that we have the intent and ability to retain until maturity. Held-to-maturity investments are initially recorded at cost and adjusted for the amortization of discounts from the date of purchase through maturity. Income related to investments is recorded as interest income in the Consolidated Statements of Operations. Cash inflows and outflows related to the sale, maturity and purchase of investments are classified as investing activities in our Consolidated Statements of Cash Flows.

Trade and Other Receivables

Trade and other receivables are primarily comprised of trade receivables that are recorded at the invoice amount, net of an allowance for doubtful accounts, which is not material. Unbilled receivables represent amounts for which revenue has been recognized but which have not yet been invoiced to the customer. The current portion of unbilled receivables is included in Trade accounts receivable on the Consolidated Balance Sheets. Long-term unbilled receivables are included in Other assets.

Historically, we have not experienced material losses related to the inability to collect receivables from our customers. While there is presently no indication that we will not collect material amounts of accounts receivable as of March 31, 2021, we continue to closely monitor the impact of COVID-19 on our customers. In these current economic conditions, payment from our customers may be delayed or receivables may become uncollectible. The inability to collect receivables could have a material impact on our results of operations.

Concentration of Credit Risk

We grant credit to customers in a wide variety of industries worldwide and generally do not require collateral. Credit losses relating to these customers have been minimal.

Sales through our distribution agreement with Arrow Enterprise Computing Solutions, Inc. ("Arrow") totaled approximately 36%, 37% and 38% of total revenues for the years ended March 31, 2021, 2020 and 2019, respectively. Arrow accounted for approximately 33% and 31% of total accounts receivable as of March 31, 2021 and 2020, respectively.

Fair Value of Financial Instruments

The carrying amounts of our cash, cash equivalents, restricted cash, accounts receivable, accounts payable and accrued expenses approximate their fair values due to the short-term maturity of these instruments. Our short-term investments balance as of March 31, 2020 consisted of U.S. Treasury Bills with maturities of one year or less. We account for these short-term investments as held to maturity. The contingent consideration liability associated with the Hedvig acquisition as discussed further in Note 4 of the consolidated financial statements was valued based on the total bona fide and valid purchase orders received through April 30, 2020 from a specified customer.

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for such asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value should maximize the use of observable inputs and minimize the use of unobservable inputs. To measure fair value, we use the following fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable:

Level 1 — Quoted prices in active markets for identical assets or liabilities.

Level 2 — Inputs other than Level 1 that are observable for the asset or liability, either directly or indirectly, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data by correlation or other means.

Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

There were no financial assets measured at fair value on a recurring basis at March 31, 2021. The following table summarizes the composition of our financial assets measured at fair value at March 31, 2020:


March 31, 2020	Level 1		Level 2		Level 3	Total
Assets:
Short-term investments	$	—	44,484		—	$	44,484
Liabilities:
Contingent consideration	—		$	—	217	$	217

Leases

We account for leases in accordance with ASC 842, Leases, which was adopted on April 1, 2019. We determine if an arrangement contains a lease at inception. We generally lease our facilities under operating leases. Operating lease right-of-use ("ROU") assets are included in Operating lease assets on our Consolidated Balance Sheets. Current portion of operating lease liabilities and Long-term operating lease liabilities are included on our Consolidated Balance Sheets.

ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we generally use our incremental borrowing rate based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at commencement date.

We recognize operating lease costs over the estimated term of the lease, which includes options to extend lease terms that are reasonably certain of being exercised, starting when possession of the property is taken from the landlord. When a lease contains a predetermined fixed escalation of the minimum rent, we recognize the related operating lease cost on a straight-line basis over the lease term. In addition, certain of our lease agreements include variable lease payments, such as estimated tax and maintenance charges. These variable lease payments are excluded from minimum lease payments and are included in the determination of lease cost when it is probable that the expense has been incurred and the amount can be reasonably estimated.

Property and Equipment

Property and equipment are stated at cost, less accumulated depreciation and amortization. Land is not depreciated. We provide for depreciation on a straight-line basis over the estimated useful lives of the assets. The depreciable assets that comprise our owned headquarters are classified as Buildings and are being depreciated over lives ranging from ten to sixty years. Computer and related equipment is generally depreciated over eighteen months to three years and furniture and fixtures are generally depreciated over three to twelve years. Leasehold improvements are amortized over the shorter of the useful life of the improvement or the term of the related lease. Expenditures for routine maintenance and repairs are charged against operations. Major replacements, improvements and additions are capitalized.

Asset Retirement Obligation

A liability for the fair value of an asset retirement obligation and corresponding increase to the carrying value of the related leasehold improvements are recorded at the time leasehold improvements are acquired. We maintain certain office space for which the lease agreement requires that we return the office space to its original condition upon vacating the premises. Accordingly, the balance of the asset retirement obligation was $780 as of March 31, 2021 and $1,420 as of March 31, 2020.

Goodwill and Intangible Assets

Goodwill is recorded when the consideration paid for an acquisition exceeds the fair value of net tangible and intangible assets acquired. The carrying value of goodwill is tested for impairment on an annual basis on January 1, or more often if an event occurs or circumstances change that would more likely than not reduce the fair value of its carrying amount. For the purpose of impairment testing, we have a single reporting unit. The impairment test consists of comparing the fair value of the reporting unit with its carrying amount that includes goodwill. If the carrying amount of the reporting unit exceeds the fair value of the reporting unit, an impairment loss would be recognized to reduce the carrying amount to its fair value.

Purchased intangible assets with finite lives were valued using the income method and were being amortized on a straight-line basis over their economic lives of five years for developed technology and two years for customer relationships as we believed this method most closely reflects the pattern in which the economic benefits of the assets will be consumed. Impairment losses are recognized if the carrying amount of an intangible asset is both not recoverable and exceeds its fair value. During the fiscal year ended March 31, 2021, we recognized an impairment charge on these assets that reduced their carrying value to zero. Refer to Note 5 for further discussion.

Long-Lived Assets

We review our long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. To determine the recoverability of our long-lived assets, we evaluate the estimated future undiscounted cash flows that are directly associated with, and that are expected to arise as a direct result of, the use and eventual disposition of the long-lived asset. If the estimated future undiscounted cash flows demonstrate that recoverability is not probable, an impairment loss would be recognized. An impairment loss would be calculated based on the excess carrying amount of the long-lived asset over the long-lived asset’s fair value. The fair value would be determined based on valuation techniques such as a comparison to fair values of similar assets.

Deferred Commissions Cost

Sales commissions, bonuses, and related payroll taxes earned by our employees are considered incremental and recoverable costs of obtaining a contract with a customer. Our typical contracts include performance obligations related to software licenses, software updates, customer support and other services, including software-as-a-service offerings. In these contracts, incremental costs of obtaining a contract are allocated to the performance obligations based on the relative estimated standalone selling prices and then recognized on a systematic basis that is consistent with the transfer of the goods or services to which the asset relates. We do not pay commissions on annual renewals of contracts for software updates and customer support for perpetual licenses. The costs allocated to software and products are expensed at the time of sale, when revenue for the functional software license or appliance is recognized. The costs allocated to software updates and customer support for perpetual licenses are amortized ratably over a period of approximately five years, the expected period of benefit of the asset capitalized. We currently estimate a period of five years is appropriate based on consideration of historical average customer life and the estimated useful life of the underlying software or appliance sold as part of the transaction. Costs related to software updates and support for term-based, or subscription software licenses, are limited to the contractual period of the arrangement as we intend to pay a commensurate commission upon renewal of the subscription license and related updates and support. The costs related to professional services are amortized over the period the related professional services are provided and revenue is recognized. Amortization expense related to these costs is included in Sales and marketing expenses in the accompanying Consolidated Statements of Operations.

Deferred Revenue

Deferred revenues represent amounts collected from, or invoiced to, customers in excess of revenues recognized. This results primarily from the billing of annual customer support agreements, and billings for other professional services fees that have not yet been performed by us. The value of deferred revenues will increase or decrease based on the timing of invoices and recognition of revenue.

Share Repurchases

We consider all shares repurchased as canceled shares restored to the status of authorized but unissued shares on the trade date. The aggregate purchase price of the shares of our common stock repurchased is reflected as a reduction to Stockholders’ equity. We account for shares repurchased as an adjustment to common stock (at par value) with the excess repurchase price allocated between Additional paid-in capital and Accumulated deficit.

Comprehensive Income (Loss)

Comprehensive income (loss) is defined to include all changes in equity, except those resulting from investments by stockholders and distribution to stockholders.

Recently Adopted Accounting Standards


Standard	Description	Effective Date	Effect on the Consolidated Financial Statements (or Other Significant Matters)
Accounting Standards Update ("ASU") No. 2016-13 (Topic 326), Financial Instruments-Credit Losses	The standard amends guidance on the impairment of financial instruments. The ASU estimates credit losses based on expected losses and provides for a simplified accounting model for purchased financial assets with credit deterioration. The standard requires a modified retrospective basis adoption through a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption.	We adopted this new standard as of April 1, 2020, using the modified retrospective method recognized as of the date of initial application.	The adoption of this new standard resulted in an $84 thousand cumulative effect on our consolidated financial statements related to an adjustment to our allowance for doubtful accounts. Under the new standard, we assess credit losses on accounts receivable by taking into consideration past collection experience, credit quality of the customer, age of the receivable balance, current economic conditions, and forecasts that affect the collectability of the reported amount.

Recently Issued Accounting Standards Not Yet Adopted


Standard	Description	Effective Date	Effect on the Consolidated Financial Statements (or Other Significant Matters)
ASU No. 2019-12 (Topic 740), Income Taxes	In December 2019, the Financial Accounting Standards Board ("FASB") issued a new standard to simplify the accounting for income taxes. The guidance eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences related to changes in ownership of equity method investments and foreign subsidiaries. The guidance also simplifies aspects of accounting for franchise taxes and enacted changes in tax laws or rates, and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill.	The standard became effective for us beginning April 1, 2021.	We do not expect the adoption to have a material impact in our consolidated financial statements, including accounting policies, processes, and systems.

Revenue

12 Months Ended

Mar. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue

We derive revenues from two primary sources: software and products, and services. Software and products revenue includes our software and integrated appliances that combine our software with hardware. Services include customer support (software updates and technical support), consulting, assessment and design services, installation services, customer education and Commvault software-as-a-service, which is branded as Metallic.

We sell both perpetual and term-based licenses of our software. We refer to our term-based software licenses as subscription arrangements. We do not customize our software and installation services are not required. The software is delivered before related services are provided and is functional without professional services, updates and technical support. We have concluded that our software licenses (both perpetual and subscription) are functional intellectual property that is distinct as the user can benefit from the software on its own. Software revenue for both perpetual and subscription licenses is typically recognized when the software is delivered and/or made available for download as this is the point the user of the software can direct the use of, and obtain substantially all of the remaining benefits from the functional intellectual property. We do not recognize software revenue related to the renewal of subscription software licenses earlier than the beginning of the new subscription period.

We also sell appliances that integrate our software with hardware and address a wide-range of business needs and use cases, ranging from support for remote or branch offices with limited IT staff up to large corporate data centers. Revenue related to appliances is recognized when control of the appliances passes to the customer; typically upon delivery. In the second half of fiscal 2021 we began transitioning to a software only model in which we sell software to a third party, which assembles an integrated appliance that is sold to end user customers. As a result, we expect the revenue and costs associated with hardware will decline going forward. The revenue for hardware is included in software and products revenue and associated costs are included in cost of software and products revenue.

Services revenue includes revenue from customer support and other professional services. Customer support includes software updates on a when-and-if-available basis, telephone support, integrated web-based support and bug fixes or patches. We sell our customer support contracts as a percentage of net software purchases the support is related to. Customer support revenue is recognized ratably over the term of the customer support agreement, which is typically one year on our perpetual licenses. The term of our subscription arrangements is typically three years.

Our other professional services include consulting, assessment and design services, installation services and customer education. Customer education services include courses taught by our instructors or third-party contractors. Revenue related to other professional services and customer education services is typically recognized as the services are performed. In fiscal 2020 Commvault launched Metallic, which is a Commvault software-as-a-service offering. Revenue from Metallic is recognized ratably as services revenue.

Most of our contracts with customers contain multiple performance obligations. For these contracts, we account for individual performance obligations separately if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. Standalone selling prices of software and appliances are typically estimated using the residual approach. Standalone selling prices of services are typically estimated based on observable transactions when these services are sold on a standalone basis.

Our typical performance obligations include the following:


Performance Obligation	When Performance Obligation is Typically Satisfied	When Payment is Typically Due	How Standalone Selling Price is Typically Estimated
Software and Products Revenue
Software Licenses	Upon shipment or made available for download (point in time)	Within 90 days of shipment except for certain subscription licenses which are paid for over time	Residual approach
Appliances	When control of the appliances passes to the customer; typically upon delivery	Within 90 days of delivery	Residual approach
Customer Support Revenue
Software Updates	Ratably over the course of the support contract (over time)	At the beginning of the contract period	Observable in renewal transactions
Customer Support	Ratably over the course of the support contract (over time)	At the beginning of the contract period	Observable in renewal transactions
Other Services Revenue
Other Professional Services (except for education services)	As work is performed (over time)	Within 90 days of services being performed	Observable in transactions without multiple performance obligations
Education Services	When the class is taught (point in time)	Within 90 days of services being performed	Observable in transactions without multiple performance obligations
Software-as-a-service (Metallic)	Ratably over the course of the contract (over time)	Annual or monthly payments	Observable in transactions without multiple performance obligations

Disaggregation of Revenue

We disaggregate revenue from contracts with customers into the nature of the products and services and geographical regions. The geographic regions that are tracked are the Americas (United States, Canada, Latin America), EMEA (Europe, Middle East, Africa) and APJ (Australia, New Zealand, Southeast Asia, China). We operate in one segment.


	Year Ended March 31, 2021
	Americas		EMEA		APJ		Total
Software and Products Revenue	$	187,027	$	101,673	$	38,143	$	326,843
Customer Support Revenue	215,831		100,620		41,330		357,781
Professional Services	21,264		12,138		5,446		38,848
Total Revenue	$	424,122	$	214,431	$	84,919	$	723,472


	Year Ended March 31, 2020
	Americas		EMEA		APJ		Total
Software and Products Revenue	$	141,856	$	95,356	$	38,096	$	275,308
Customer Support Revenue	230,226		88,965		40,939		360,130
Professional Services	18,778		10,459		6,210		35,447
Total Revenue	$	390,860	$	194,780	$	85,245	$	670,885


	Year Ended March 31, 2019
	Americas		EMEA		APJ		Total
Software and Products Revenue	$	170,114	$	95,913	$	43,872	$	309,899
Customer Support Revenue	237,190		82,895		38,662		358,747
Professional Services	23,076		12,380		6,855		42,311
Total Revenue	$	430,380	$	191,188	$	89,389	$	710,957

Information about Contract Balances

Amounts collected in advance of services being provided are accounted for as deferred revenue. Nearly all of our deferred revenue balance is related to services revenue, primarily customer support contracts.

In some arrangements we allow customers to pay for term-based software licenses and products over the term of the software license. Amounts recognized as revenue in excess of amounts billed are recorded as unbilled receivables. Unbilled receivables, which are anticipated to be invoiced in the next twelve months, are included in Accounts receivable on the Consolidated Balance Sheets. Long-term unbilled receivables are included in Other assets. The opening and closing balances of our Accounts receivable, Unbilled receivables and Deferred revenues are as follows:


	Accounts Receivable		Unbilled Receivable (current)		Unbilled Receivable (long-term)		Deferred Revenue (current)		Deferred Revenue (long-term)
Opening Balance as of March 31, 2020	$	129,856	$	17,134	$	7,857	$	233,497	$	92,723
Increase/(decrease), net	39,129		2,007		(394)		19,714		26,508
Ending Balance as of March 31, 2021	$	168,985	$	19,141	$	7,463	$	253,211	$	119,231

The increase in accounts receivable (inclusive of unbilled receivables) is primarily a result of an increase in software and products revenue relative to the prior year. The increase in deferred revenue is primarily the result of an increase in deferred customer support revenue related to software and products revenue transactions and a weakening of the U.S. dollar.

The amount of revenue recognized in the period that was included in the opening deferred revenue balance was $247,579 for the year ended March 31, 2021. The vast majority of this revenue consists of customer support arrangements. The amount of revenue recognized from performance obligations satisfied in prior periods was not material.

Remaining Performance Obligations

In addition to the amounts included in deferred revenue as of March 31, 2021, approximately $46,163 of revenue may be recognized from remaining performance obligations, of which approximately $12,000 was related to software and products. We expect most of the software and products revenue to be recognized in the first half of fiscal 2022. The majority of the services revenue is related to other professional services which may be recognized over the next twelve months but is contingent upon a number of factors, including customers’ needs and schedules.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Business Combination

12 Months Ended

Mar. 31, 2021

Business Combinations [Abstract]

Business Combination

During fiscal 2020, on October 1, 2019, we completed the acquisition of Hedvig Inc., a Delaware corporation, (“Hedvig”), for a purchase price of $163,205, which consisted of $157,589 of cash, $1,616 of restricted stock units and $4,000 of contingent consideration. In the fourth quarter of fiscal 2020 we reduced our estimate of the contingent consideration to $217. The decrease in this liability was reflected as a gain in the Consolidated Statements of Operations for the year ended March 31, 2020.

We also entered into compensation arrangements with the employees of Hedvig. This included the issuance of restricted stock units that vest over the next three years (a portion of which is allocated to the purchase price). Refer to Note 10 of the consolidated financial statements for further discussion on stock awards. Additionally, certain Hedvig shareholders will receive cash payments totaling $14,100 over the course of the 30 months following the date of acquisition, contingent on their continued employment with us. While these payments are proportionate to these shareholders' ownership of Hedvig, under U.S. GAAP they are accounted for as compensation expense over the course of the 30 month service period, and not included in the purchase price.

The following table summarizes the purchase price and purchase price allocation made as of the date of acquisition:


Purchase price allocation:
Cash paid at closing	157,589
Fair value of restricted stock units included in purchase price	1,616
Fair value of contingent consideration	4,000
Total purchase price	$	163,205

Assets acquired and liabilities assumed:
Cash	94
Trade accounts receivable	1,074
Other current assets	104
Property and equipment	202
Intangible assets	52,000
Other assets	682
Accounts payable and accrued liabilities	(1,060)
Deferred revenue	(2,231)
Operating lease liability, net of operating lease assets	(11)
Deferred tax liability	(84)
Total identifiable net assets acquired and liabilities assumed	50,770
Goodwill	112,435
Total purchase price	$	163,205

Contingent consideration

The contingent consideration arrangement required us to pay up to $8,000 of cash to the former owners of Hedvig, contingent on us receiving one or more bona fide and valid purchase orders from a specified customer, no later than April 30, 2020. At the time the acquisition was completed, the fair value of the contingent consideration was estimated to be $4,000 based on a probability weighted-average approach and was included in the purchase price. As of March 31, 2020, we expected to receive one valid purchase order prior to April 30, 2020 from the specified customer; therefore, the fair value was estimated to be $217 with the revaluation of $3,783 recorded in Net change in contingent consideration in the Consolidated Statements of Operations. As of April 30, 2020, we received the one valid purchase order from the specified customer of $217 which resulted in the release of $7,783 of restricted cash during the first quarter of fiscal year 2021.

Goodwill and Intangible Assets, Net

12 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

Goodwill

The goodwill of $112,435 arising from the fiscal year 2020 acquisition of Hedvig represents the estimated value of potential expansion with new customers, the opportunity to further develop sales relationships with new customers and intangible assets that do not qualify for separate recognition. None of the goodwill recorded is expected to be deductible for income tax purposes.

There were no additions, impairments or any other changes to the carrying amount of goodwill during the fiscal year ended March 31, 2021.

Goodwill balances are as follows:


Balance as of March 31, 2020	$	112,435
Additions/(Impairments)	—
Balance as of March 31, 2021	$	112,435

As noted below, during the second quarter of fiscal year 2021, we impaired our intangible assets, at which time we assessed the carrying value of goodwill. Based on our assessment, we concluded there was no impairment of goodwill. We also completed our annual impairment review as of January 1, 2021 and concluded there were no impairments to goodwill.

Intangible assets, net

Intangible assets subject to amortization as of March 31, 2021 are as follows:


	Gross Carrying Amount		Accumulated Amortization		Impairment Charge		Net Carrying Value
Developed technology	$	49,000	$	(9,800)	$	(39,200)	$	—
Customer relationships	3,000		(1,500)		(1,500)		—
Total intangible assets	$	52,000	$	(11,300)	$	(40,700)	$	—

Amortization expense from acquired intangible assets was $5,650 for both the fiscal years ended March 31, 2021 and 2020, respectively.

Our intangible assets (developed technology and customer relationships) were acquired in connection with the Hedvig, Inc. ("Hedvig") transaction. The most material of these assets was the developed technology. The value of this asset was attributable to forecasted incremental revenues directly attributable to this technology. While we have successfully integrated this technology into our existing HyperScale X technology, we have not met our forecasts for standalone sales of this acquired technology. During the second quarter of fiscal year 2021 we identified an indicator of impairment and concluded that the carrying values of the developed technology and customer relationships acquired in connection with the Hedvig transaction were not recoverable on an undiscounted basis. As a result, we remeasured the fair value of these assets and concluded their value was de minimis. We recorded a $40,700 impairment charge in the accompanying Consolidated Statements of Operations for the year ended March 31, 2021. These non-recurring fair value measurements were categorized as Level 3, as significant unobservable inputs were used in the valuation analysis. Key assumptions used in the valuation include forecasts of revenue and expenses over an extended period, the useful life of the asset, tax rates, and estimated costs of debt and equity capital to discount the projected cash flows. Certain of these assumptions involve significant judgment and are based on management’s estimate of current and forecasted market conditions.

Property and Equipment

12 Months Ended

Mar. 31, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consist of the following:


	March 31,
	2021		2020
Land	$	9,445	$	9,445
Buildings	103,244		103,244
Computers, servers and other equipment	42,117		40,044
Furniture and fixtures	14,689		14,919
Leasehold improvements	8,089		9,252
Purchased software	1,955		1,637
Construction in process	4,304		2,021
	183,843		180,562
Less: Accumulated depreciation and amortization	(71,064)		(66,043)
	$	112,779	$	114,519

We recorded depreciation and amortization expense of $10,228, $11,415, and $12,060 for the years ended 2021, 2020 and 2019, respectively. Approximately $1,250 of depreciation expense is allocated to our cost of goods sold for the years ended 2021, 2020 and 2019.

Accrued Liabilities

12 Months Ended

Mar. 31, 2021

Payables and Accruals [Abstract]

Accrued Liabilities

Accrued liabilities consist of the following:


	March 31,
	2021		2020
Compensation and related payroll taxes	$	69,890	$	47,356
Other	42,258		39,695
	$	112,148	$	87,051

Commitments and Contingencies

12 Months Ended

Mar. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Purchase Commitments

We, in the normal course of business, enter into various purchase commitments for goods or services. Total non-cancellable purchase commitments as of March 31, 2021, which relate primarily to marketing and IT services are as follows:


	2022		2023		2024		2025 and beyond		Total
Purchase commitments	$	23,339	$	5,266	$	804	$	591	$	30,000

We have certain software royalty commitments associated with the shipment and licensing of certain products. Royalty expense is generally based on a fixed cost per unit shipped or a fixed fee for unlimited units shipped over a designated period. Royalty expense, included in Cost of software and products revenues, was as follows:


	Year Ended March 31,
	2021		2020		2019
Royalty expense	$	16,256	$	12,545	$	12,319

Warranties and Indemnifications

We typically offer a 90-day limited product warranty for our software. To date, costs related to this product warranty have not been material.

We provide certain provisions within our software licensing agreements to indemnify our customers from any claim, suit or proceeding arising from alleged or actual intellectual property infringement. These provisions continue in perpetuity, along with our software licensing agreements. We have never incurred a liability relating to one of these indemnification provisions, and management believes that the likelihood of any future payout relating to these provisions is remote. Therefore, we have not recorded a liability during any period for these indemnification provisions.

Legal Proceedings

From time to time, we are subject to claims in legal proceedings arising in the normal course of business. On February 9, 2021, Rubrik, Inc. filed a patent-infringement lawsuit against Commvault Systems, Inc. in the United States District Court for the Western District of Texas – Waco Division. Rubrik asserts U.S. Patents 10,852,998, 10,133,495 and 9,075,773. Due to the inherent uncertainties of litigation, we cannot accurately predict the ultimate timing or outcome of this matter. We are unable at this time to determine whether the outcome of the litigation will have a material impact on our results of operations, financial condition, or cash flows. We believe that Rubrik’s claims are without merit, and we intend to vigorously contest them.

We do not believe that we are currently party to any other pending legal action that could reasonably be expected to have a material adverse effect on our business or operating results. See Risk Factors "Protection of our intellectual property is limited, and any misuse of our intellectual property by others could materially adverse our sales and results of operations" for additional information.

Capitalization	12 Months Ended
Capitalization	Mar. 31, 2021
Equity [Abstract]
Capitalization	Capitalization Common Stock We have 46,482 and 46,011 shares of common stock, par value $0.01, outstanding at March 31, 2021 and March 31, 2020, respectively. During fiscal 2021, we repurchased $95,259 of common stock, or 1,643 shares, under our share repurchase program. Our stock repurchase program has been funded by our existing cash and cash equivalent balances as well as cash flows provided by our operations. Our Board has approved, and we intend to execute, a capital allocation policy that provides for the repurchase of $200,000 of our common stock for the period from February 1, 2021 through the end of our 2022 fiscal year, plus the use of approximately 75% of our free cash flow for additional repurchases during fiscal year 2022. From February 1, 2021 through March 31, 2021 we repurchased $62,127 of our common stock. Shares Reserved for Issuance At March 31, 2021, we have reserved 5,075 shares in connection with our Stock Plans discussed in Note 10 of the notes to the consolidated financial statements.

Stock Plans

12 Months Ended

Mar. 31, 2021

Share-based Payment Arrangement [Abstract]

Stock Plans

We maintain the Omnibus Incentive Plan (the “2016 Incentive Plan”) for granting awards to employees. On October 22, 2020, our shareholders approved an amendment to the 2016 Incentive Plan to increase the maximum number of shares of common stock that may be delivered under plan to 8,050, an increase of 1,000 shares. The 2016 Incentive Plan authorizes a broad range of awards including stock options, stock appreciation rights, full value awards (including restricted stock, restricted stock units, performance shares or units and other stock-based awards) and cash-based awards.

In consideration for the acquisition of Hedvig, we issued a total of 1,018 restricted stock units to Hedvig employees in the third quarter of fiscal 2020. These awards were granted at a fair value of $44.49 per share. These awards were granted as inducement grants under our 2016 Omnibus Incentive Plan, and therefore are not counted against the equity available for grant under such plan.

We have one additional plan, the 2006 Long-Term Stock Incentive Plan (the “LTIP”), with outstanding options and awards but the LTIP cannot be used for future grants.

The 2016 Incentive Plan permits the grant of incentive stock options, non-qualified stock options, restricted stock awards, restricted stock units, stock appreciation rights, performance stock awards and stock unit awards based on, or related to, shares of our common stock. As of March 31, 2021, approximately 2,110 shares were available for future issuance under the 2016 Incentive Plan.

As of March 31, 2021, we have granted non-qualified stock options, restricted stock units and performance stock awards under our stock incentive plans. Historically, most equity awards granted by us under our stock incentive plans generally vest quarterly over a three-year period, except that the shares that would otherwise vest quarterly over the first twelve months do not vest until the first anniversary of the grant. We anticipate that future grants under our stock incentive plans will be restricted stock units and performance stock awards and do not anticipate that we will grant stock options.

As of March 31, 2021, there was approximately $120,658 of unrecognized stock-based compensation expense related to all of our employee stock plans that is expected to be recognized over a weighted-average period of 1.88 years. To the extent the actual forfeiture rate is different from what we have anticipated, stock-based compensation related to these awards will be different from our expectations.

The following summarizes the activity for our stock incentive plans from March 31, 2018 to March 31, 2021:


Options	Number of Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Outstanding at March 31, 2020	1,904	60.03
Options granted	—	—
Options exercised	(257)	41.68
Options forfeited	—	—
Options expired	(290)	66.79
Outstanding at March 31, 2021	1,357	$	62.06	2.12	$	13,711

Exercisable at March 31, 2021	1,357	$	62.06	2.12	$	13,711

The total intrinsic value of options exercised was $4,306, $13,428, and $39,502 in the years ended March 31, 2021, 2020 and 2019, respectively. Our policy is to issue new shares upon exercise of options as we do not hold shares in treasury.

Restricted stock unit activity is as follows:


Non-Vested Restricted Stock Units	Number of Awards	Weighted- Average Grant Date Fair Value
Non-vested as of March 31, 2020	3,237	50.47
Granted	2,096	42.04
Vested	(1,585)	51.32
Forfeited	(297)	51.76
Non-vested as of March 31, 2021	3,451	$	44.90

The total fair value of the restricted stock units that vested during the years ended March 31, 2021, 2020 and 2019 was $72,544, $48,221 and $82,957, respectively.

The following table presents the stock-based compensation expense included in Cost of services revenue, Sales and marketing, Research and development and General and administrative expenses for the years ended March 31, 2021, 2020 and 2019.


	Year Ended March 31,
	2021		2020		2019
Cost of services revenue	$	3,317	$	2,604	$	2,922
Sales and marketing	35,577		31,779		34,874
Research and development	24,823		14,594		8,601
General and administrative	18,369		15,158		31,458
Restructuring	2,747		1,753		2,632
Stock-based compensation expense	$	84,833	$	65,888	$	80,487

Awards with a Market Condition

In fiscal 2021, we granted 299 market performance stock units to certain executives. The vesting of these awards is contingent upon us meeting certain total shareholder return ("TSR") levels as compared to the Russell 3000 market index over the next three years. The awards vest in three annual tranches and have a maximum potential to vest at 200% (598 shares) and a minimum of 0% (no shares) based on TSR performance. The related stock-based compensation expense is determined based on the estimated fair value of the underlying shares on the date of grant and is recognized using the accelerated method over the vesting term. The estimated fair value was calculated using a Monte Carlo simulation model. The weighted-average fair value of the awards granted during the year was $36.76 per share, which approximated the market value of a share of stock at the time of grant. The awards are included in the restricted stock unit table above.

In fiscal 2020, we granted 95 market performance stock units to certain executives. The vesting of these awards is contingent upon us meeting certain total shareholder return ("TSR") levels as compared to a market index over the succeeding three years. The awards vest in three annual tranches and have a maximum potential to vest at 200% (190 shares) and a minimum of 0% (no shares) based on TSR performance. The related stock-based compensation expense is determined based on the estimated fair value of the underlying shares on the date of grant and is recognized using the accelerated method over the vesting term. The estimated fair value is calculated using a Monte Carlo simulation model. The weighted-average fair value of the awards granted was $48.26 per share. The awards are included in the restricted stock unit table above.

Performance Based Awards

In May 2019, we granted 88 performance stock units ("PSUs") to certain executives and in November 2019, we granted an additional 17 PSUs to certain executives for a total of 105 granted PSUs for fiscal 2020. Vesting of these awards is contingent upon i) us meeting certain company-wide revenue and non-GAAP performance goals (performance-based) in fiscal 2020 and ii) our customary service periods. The awards vest in three annual tranches and have a maximum potential to vest at 200% (210 shares) based on actual fiscal 2020 performance. The related stock-based compensation expense is determined based on the value of the underlying shares on the date of grant and is recognized over the vesting term using the accelerated method. During each financial period, management estimates the probable number of PSUs that would vest until the ultimate achievement of the performance goals is known. Based on our results, the PSUs granted in May 2019 will be eligible to vest at 0% and the PSUs granted in November 2019 will be eligible to vest at 46%. The awards are included in the restricted stock units table.

There were no performance stock units granted during fiscal 2021.

Employee Stock Purchase Plan

The Employee Stock Purchase Plan (the “Purchase Plan”) is a shareholder approved plan under which substantially all employees may purchase our common stock through payroll deductions at a price equal to 85% of the lower of the fair market values of the stock as of the beginning or the end of six-month offering periods. An employee’s payroll deductions under the Purchase Plan are limited to 10% of the employee’s salary and employees may not purchase more than $25 of stock during any calendar year. Employees purchased 272 shares in exchange for $9,812 of proceeds in fiscal 2021 and 273 shares in exchange for $9,670 of proceeds in fiscal 2020. The Purchase Plan is considered compensatory and the fair value of the discount and look back provision are estimated using the Black-Scholes formula and recognized over the six-month withholding period prior to purchase. The total expense associated with the Purchase Plan for fiscal 2021, 2020 and 2019 was $3,417, $2,939 and $3,080, respectively. As of March 31, 2021, there was approximately $1,139 of unrecognized cost related to the current purchase period of our Purchase Plan.

Impact on Stock Compensation Expense for Changes in Senior Leadership

During fiscal 2019, Commvault’s Chief Executive Officer, N. Robert Hammer, announced his retirement effective February 1, 2019. As part of his retirement, we modified his equity awards to allow for continued vesting of his restricted stock awards and performance based awards. We also increased the timeframe for which his stock options shall remain exercisable to their original ten years expiration date and not thirty days from his last date of employment. The expense related to these modifications was $12,157 for the year ended March 31, 2019.

Income Taxes

12 Months Ended

Mar. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

Impact of U.S. CARES Act 2020

In response to the COVID-19 Pandemic, many governments implemented measures to provide aid and economic stimulus in the form of tax incentives. On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act. The CARES Act includes several significant business tax provisions as well as relief for individual taxpayers. The CARES Act modified the tax rules related to net operating loss ("NOL") uses. In the fourth quarter of fiscal 2020, we recorded a current tax benefit of approximately $10.0 million which represented our estimate of the net operating loss carryback resulting from the CARES Act. In the first quarter of fiscal 2021, we recorded an adjustment of $3.2 million to reduce the current benefit of the net operating loss carryback benefit we realized from the CARES Act.

Impact of U.S. Tax Reform 2017

The Tax Cuts and Jobs Act (the "Act") was enacted on December 22, 2017. The Act reduces the US federal corporate tax rate from 35% to 21%, required companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred and created new taxes on certain foreign sourced earnings. The most significant impact of the legislation for the Company was the reduction of the value of the Company's net deferred tax assets (which represent future tax benefits) as a result of lowering the U.S. corporate income tax rate from 35% to 21%. The Act also included a requirement to pay a one-time transition tax on the cumulative value of earnings and profits that were previously not repatriated for U.S. income tax purposes. We have concluded that the one-time transition tax is zero. In addition, we no longer consider the undistributed earnings held outside of the U.S. by most of its foreign subsidiaries to be indefinitely reinvested.

The Act subjects a U.S. shareholder to tax on Global Intangible Low-Taxed Income ("GILTI") earned by certain foreign subsidiaries. The FASB Staff Q&A, Topic 740, No. 5, Accounting for GILTI, states that an entity can make an accounting policy election to either recognize deferred taxes for temporary basis differences expected to reverse as GILTI in future years or to provide for the tax expense related to GILTI in the year the tax is incurred as a period expense only. Because the Company was evaluating the provisions of GILTI as of the fiscal year ended March 31, 2018, it recorded no GILTI-related deferred amounts in the financial statements for the year ended March 31, 2018. After further consideration, the Company has elected to account for GILTI in the year the tax is incurred, and has recorded an estimate of GILTI as a component of the projected tax provision for the fiscal years ending March 31, 2021, 2020 and 2019.

Valuation Allowance

Net deferred tax assets arise due to the recognition of income and expense items for tax purposes, which differ from those used for financial statement purposes. ASC 740, Income Taxes, provides for the recognition of deferred tax assets if realization of such assets is more likely than not. In assessing the need for a valuation allowance, we considered all available objective and verifiable evidence both positive and negative, including historical levels of pre-tax income (loss) both on a consolidated basis and tax reporting entity basis, legislative developments, expectations and risks associated with estimates of future pre-tax income, and prudent and feasible tax planning strategies. As a result of this analysis, we determined that it is more likely than not that we will not realize the benefits of our gross deferred tax assets and therefore have recorded a valuation allowance to reduce the carrying value of these gross deferred tax assets, net of the impact of the reversal of taxable temporary differences.

The components of income (loss) before income taxes were as follows:


	Year Ended March 31,
	2021		2020		2019
Domestic	$	(28,628)	$	(16,670)	$	(1,762)
Foreign	7,393		4,124		12,189
	$	(21,235)	$	(12,546)	$	10,427

The components of income tax expense (benefit) were as follows:


	Year Ended March 31,
	2021		2020		2019
Current:
Federal	$	3,399	$	(10,071)	$	(1,772)
State	196		(613)		103
Foreign	6,215		5,566		8,371
Deferred:
Federal	(113)		284		144
State	—		—		—
Foreign	22		(2,067)		20
	$	9,719	$	(6,901)	$	6,866

A reconciliation of the statutory tax rates and the effective tax rates for the years ended March 31, 2021, 2020 and 2019 are as follows:


	Year Ended March 31,
	2021		2020		2019
Statutory federal income tax expense (benefit) rate	(21.0)	%	(21.0)	%	21.0	%
State and local income tax expense, net of federal income tax effect	0.9	%	(4.9)	%	1.0	%
Foreign earnings taxed at different rates	10.0	%	12.3	%	25.5	%
U.S. tax on Global Intangible Low-Taxed Income	1.8	%	14.5	%	72.9	%
Domestic permanent differences including acquisition items	1.7	%	7.7	%	7.8	%
Foreign tax credits	(7.8)	%	(19.3)	%	(22.4)	%
Research credits	(68.6)	%	(32.9)	%	(51.8)	%
Tax reserves	(0.1)	%	(0.6)	%	(5.2)	%
Valuation allowance	74.4	%	64.0	%	(76.7)	%
Enacted tax law changes	—	%	10.6	%	(7.8)	%
Stock-based compensation	36.3	%	(43.1)	%	97.2	%
CARES Act Impact	15.0	%	(82.1)	%	—	%
Reduction of NOL for carryback	—	%	59.2	%	—	%
Other differences, net	3.2	%	(19.4)	%	4.3	%
Effective income tax expense (benefit)	45.8	%	(55.0)	%	65.8	%

The significant components of our deferred tax assets are as follows:


	March 31,
	2021		2020
Deferred tax assets:
Net operating losses	$	12,586	$	16,075
Equity investment	1,193		1,192
Stock-based compensation	16,280		20,792
Deferred revenue	14,879		16,027
Tax credits	39,062		24,936
Accrued expenses	3,568		4,675
Allowance for doubtful accounts and other reserves	801		546
Less: valuation allowance	(78,339)		(61,702)
Total deferred tax assets	10,030		22,541
Deferred tax liabilities:
Depreciation and amortization	(4,553)		(16,349)
Deferred commissions and other	(6,238)		(7,041)
Total deferred tax liabilities	$	(10,791)	$	(23,390)
Net deferred tax liability	$	(761)	$	(849)

During fiscal 2019, the Company could no longer assert that it had the intent to indefinitely reinvest the earnings and profits of the foreign subsidiaries, with the exception of India. Accordingly, the Company was required to adjust its deferred tax liability for the effects of this change in assertion. This effect was not significant. Our position during fiscal 2021 remains unchanged.

At March 31, 2021, we had NOL carry forwards of $47,976. There are $22,061 NOLs that will expire between 2034 and 2036 and $25,915 NOLs that will not expire. As of March 31, 2021, we had deferred tax assets related to state NOL carry forwards of $1,779 which expire over various years beginning in 2030 depending on the jurisdiction.

We also had federal and state research tax credits ("R&D credit") carryforwards of approximately $27,828 and $13,743, respectively. The federal R&D credit carryforwards expire from 2034 through 2041, and the state R&D credit carryforwards expire from 2022 through 2036.

We conduct business globally and as a result, file income tax returns in the United States and in various state and foreign jurisdictions. In the normal course of business, we are subject to examination by taxing authorities throughout the world. The following table summarizes the tax years subject to income tax examinations by tax authorities as of March 31, 2021. The years subject to income tax examination in our foreign jurisdictions cover the maximum time period with respect to these jurisdictions. Due to NOLs, in some cases the tax years continue to remain subject to examination with respect to such NOLs.


Tax Jurisdiction			Years Subject to Income Tax Examination
U.S. Federal			2017 - Present
Foreign jurisdictions			2013 - Present

The calculation of our tax liabilities involves dealing with uncertainties in the application of complex tax regulations in each of our tax jurisdictions. The number of years with open tax audits varies depending on the tax jurisdiction. A number of years may lapse before a particular matter is audited and finally resolved. A reconciliation of the amounts of unrecognized tax benefits is as follows:


Balance at March 31, 2018	$	1,740
Additions for tax positions related to fiscal 2019	—
Additions for tax positions related to prior years	547
Settlements and effective settlements with tax authorities and remeasurements	—
Reductions related to the expiration of statutes of limitations	(695)
Foreign currency translation adjustment	—
Balance at March 31, 2019	1,592
Additions for tax positions related to fiscal 2020	170
Additions for tax positions related to prior years	—
Settlements and effective settlements with tax authorities and remeasurements	—
Reductions related to the expiration of statutes of limitations	(100)
Foreign currency translation adjustment	—
Balance at March 31, 2020	1,662
Additions for tax positions related to fiscal 2021	614
Additions for tax positions related to prior years	—
Settlements and effective settlements with tax authorities and remeasurements	—
Reductions related to the expiration of statutes of limitations	(65)
Foreign currency translation adjustment	—
Balance at March 31, 2021	2,211

We estimate that no significant remaining unrecognized tax benefits will be realized during the fiscal year ending March 31, 2022. Interest and penalties related to unrecognized tax benefits are recorded in Income tax expense. In the years ended March 31, 2021, 2020 and 2019, we recognized $9, $6 and $40, respectively, of net interest and penalties in the Consolidated Statements of Operations.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Employee Benefit Plan	12 Months Ended
Employee Benefit Plan	Mar. 31, 2021
Retirement Benefits [Abstract]
Employee Benefit Plan	Employee Benefit PlanWe have a defined contribution plan, as allowed under Section 401(k) of the Internal Revenue Code, covering substantially all employees. Effective January 1, 2012, we make contributions equal to a discretionary percentage of the employee’s contributions determined by us. During the years ended March 31, 2021, 2020 and 2019, we made contributions of $2,445, $2,487, and $2,786, respectively.

- Definition

The entire disclosure for retirement benefits.

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+ Details

Segment Information

12 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Segment Information

We operate in one segment. Our products and services are sold throughout the world, through direct and indirect sales channels. Our chief operating decision maker (the “CODM”) is the Chief Executive Officer. The CODM makes operating performance assessment and resource allocation decisions on a global basis. The CODM does not receive discrete financial information about asset allocation, expense allocation or profitability by product or geography.

Revenues by geography are based upon the billing address of the customer. All transfers between geographic regions have been eliminated from consolidated revenues. The following table sets forth revenue and long-lived assets by geographic area:


	Year Ended March 31,
	2021		2020		2019
Revenue:
United States	$	379,106	$	342,660	$	379,221
Other	344,366		328,225		331,736
	$	723,472	$	670,885	$	710,957

No individual country other than the United States accounts for 10% or more of revenues in the years ended March 31, 2021, 2020 and 2019. Revenue included in the “Other” caption above primarily relates to our operations in Europe, Australia, Canada and Asia.


	March 31,
	2021		2020
Long-lived assets:
United States	$	248,386	$	300,662
Other	48,187		30,728
	$	296,573	$	331,390

At March 31, 2021 and 2020 no other individual country, other than the United States, accounts for 10% or more of long-lived assets.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Restructuring

12 Months Ended

Mar. 31, 2021

Restructuring and Related Activities [Abstract]

Restructuring

RestructuringOur restructuring plan, initiated in the first quarter of fiscal 2019, is aimed to increase efficiency in our sales, marketing and distribution functions as well as reduce costs across all functional areas. These restructuring charges relate primarily to severance and related costs associated with headcount reductions, stock-based compensation related to modifications of existing unvested awards granted to certain employees impacted by the restructuring plan and lease abandonment charges.

For the years ended March 31, 2021, 2020 and 2019, restructuring charges were comprised of the following:


	Year Ended March 31,
	2021		2020		2019
Employee severance and related costs	$	19,040	$	16,834	$	12,133
Lease impairments related costs (1)	1,684		2,761		—
Stock-based compensation	2,747		1,753		2,632
Total restructuring charges	$	23,471	$	21,348	$	14,765

(1) Lease impairment charges relate to seven and six offices for the years ended March 31, 2021 and 2020, respectively. There were no lease impairment charges for the year ended March 31, 2019.

Restructuring accrual

The activity in our restructuring accrual for the years ended March 31, 2021 and 2020 is as follows:


	Year Ended March 31,
	2021		2020
Beginning balance	$	2,531	$	1,089
Employee severance and related costs	19,040		16,834
Payments	(18,476)		(15,392)
Ending balance	$	3,095	$	2,531

Leases

12 Months Ended

Mar. 31, 2021

Leases [Abstract]

Leases

In February 2016, the Financial Accounting Standards Board (“FASB”) issued accounting standards update ASU No. 2016-02, Leases. Under the new guidance, we recognized lease liabilities and right-of-use assets for our long-term leases. We adopted the new guidance on April 1, 2019 using the optional transition method, which allows for the prospective application of the standard, and as a result, we did not record an adjustment to retained earnings. In addition, we elected the package of practical expedients, for all of its leases, permitted under the transition guidance within the standard, which allowed us to carry forward our historical lease classification, to not reassess prior conclusions related to initial direct costs and to not reassess whether any expired or existing contracts are or contain leases. We also elected the lessee practical expedient to combine lease and non-lease components for new leases and modified leases. We also made an accounting policy election in accordance with the new standard to apply accounting similar to ASC 840 to short-term leases, which are defined as leases that have a term of 12 months or less.

Our lease liabilities relate primarily to operating leases for our global office infrastructure. These operating leases expire at various dates through fiscal 2031. We did not have any finance leases for either the years ended March 31, 2021 or 2020.

Net lease cost recognized in our Consolidated Statements of Operations is summarized as follows:


	Year Ended March 31,
	2021		2020
Operating lease cost	$	9,048	$	8,795
Short-term lease cost	232		410
Variable lease cost	1,938		2,088
Net lease cost	$	11,218	$	11,293

Disclosures related to periods prior to the adoption of the new lease standard

Rental expense was $11,474 for the year ended March 31, 2019.

Cash flow information


	Year Ended March 31,
	2021		2020
Cash paid for operating lease liabilities	$	10,370	$	9,476
Additions of operating lease assets	$	17,603	$	8,448

As of March 31, 2021, the minimum lease commitment amount for operating leases signed but not yet commenced, was immaterial.

As of March 31, 2021, the maturities of lease liabilities based on the total minimum lease commitment amount including options to extend lease terms that are reasonably certain of being exercised are as follows:


2022	$	7,526
2023	4,816
2024	4,071
2025	3,978
2026	2,143
Thereafter	2,535
Total Minimum Lease Payments	$	25,069
Less: Imputed Interest	(2,181)
Present value of operating lease liabilities	$	22,888
Less: Current Portion of operating lease liabilities	7,469
Long-term operating lease liabilities	$	15,419

The weighted-average discount rate was 4% for operating leases recognized in the Consolidated Balance Sheets for both the years ended March 31, 2021 and 2020. The weighted-average remaining operating lease term was 4.43 years and 3.09 years for the years ended March 31, 2021 and 2020, respectively.

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Mar. 31, 2021

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule II - Valuation and Qualifying Accounts

Schedule II — Valuation and Qualifying Accounts


			Additions
	Balance at Beginning of Year		Charged (Credited) to Costs and Expenses		Charged to Other Accounts		Write-offs/Deductions		Balance at End of Year
	(In thousands)
Year Ended March 31, 2019
Allowance for doubtful accounts	$	104	$	569	$	—	$	(184)	$	489
Valuation allowance for deferred taxes	$	58,350	$	(8,190)	$	—	$	—	$	50,160
Year Ended March 31, 2020
Allowance for doubtful accounts	$	489	$	(246)	$	—	$	(121)	$	122
Valuation allowance for deferred taxes	$	50,160	$	11,542	$	—	$	—	$	61,702
Year Ended March 31, 2021
Allowance for doubtful accounts	$	122	$	333	$	84	$	(56)	$	483
Valuation allowance for deferred taxes	$	61,702	$	16,637	$	—	$	—	$	78,339

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

Basis of Presentation

The consolidated financial statements include the accounts of Commvault. All intercompany transactions and balances have been eliminated in consolidation.

Use of Estimates

Revenue, Shipping and Handling Costs, Deferred Commissions Cost and Deferred Revenue

Revenue

Shipping and Handling Costs

Shipping and handling costs are included in cost of revenues for all periods presented.

Deferred Commissions Cost

Deferred Revenue

Information about Contract Balances

Sales Tax

We record revenue net of sales tax.

Accounting for Stock-Based Compensation

Software Development Costs

Advertising Costs

Advertising CostsWe expense advertising costs as incurred.

Accounting for Income Taxes

Foreign Currency Translation

Net Income per Common Share

Cash, Cash Equivalents and Restricted Cash

Short-term Investments

Trade and Other Receivables

Concentration of Credit Risk

We grant credit to customers in a wide variety of industries worldwide and generally do not require collateral. Credit losses relating to these customers have been minimal.

Fair Value of Financial Instruments

Level 1 — Quoted prices in active markets for identical assets or liabilities.

Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Leases

Property and Equipment

Asset Retirement Obligation

Asset Retirement ObligationA liability for the fair value of an asset retirement obligation and corresponding increase to the carrying value of the related leasehold improvements are recorded at the time leasehold improvements are acquired. We maintain certain office space for which the lease agreement requires that we return the office space to its original condition upon vacating the premises.

Goodwill and Intangible Assets

Long-Lived Assets

Long-Lived AssetsWe review our long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. To determine the recoverability of our long-lived assets, we evaluate the estimated future undiscounted cash flows that are directly associated with, and that are expected to arise as a direct result of, the use and eventual disposition of the long-lived asset. If the estimated future undiscounted cash flows demonstrate that recoverability is not probable, an impairment loss would be recognized. An impairment loss would be calculated based on the excess carrying amount of the long-lived asset over the long-lived asset’s fair value. The fair value would be determined based on valuation techniques such as a comparison to fair values of similar assets.

Share Repurchases

Share RepurchasesWe consider all shares repurchased as canceled shares restored to the status of authorized but unissued shares on the trade date. The aggregate purchase price of the shares of our common stock repurchased is reflected as a reduction to Stockholders’ equity. We account for shares repurchased as an adjustment to common stock (at par value) with the excess repurchase price allocated between Additional paid-in capital and Accumulated deficit.

Comprehensive Income (Loss)

Comprehensive income (loss) is defined to include all changes in equity, except those resulting from investments by stockholders and distribution to stockholders.

Recently Adopted Accounting Standards and Recently Issued Accounting Standards Not Yet Adopted

Recently Adopted Accounting Standards


Standard	Description	Effective Date	Effect on the Consolidated Financial Statements (or Other Significant Matters)
Accounting Standards Update ("ASU") No. 2016-13 (Topic 326), Financial Instruments-Credit Losses	The standard amends guidance on the impairment of financial instruments. The ASU estimates credit losses based on expected losses and provides for a simplified accounting model for purchased financial assets with credit deterioration. The standard requires a modified retrospective basis adoption through a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption.	We adopted this new standard as of April 1, 2020, using the modified retrospective method recognized as of the date of initial application.	The adoption of this new standard resulted in an $84 thousand cumulative effect on our consolidated financial statements related to an adjustment to our allowance for doubtful accounts. Under the new standard, we assess credit losses on accounts receivable by taking into consideration past collection experience, credit quality of the customer, age of the receivable balance, current economic conditions, and forecasts that affect the collectability of the reported amount.

Recently Issued Accounting Standards Not Yet Adopted


Standard	Description	Effective Date	Effect on the Consolidated Financial Statements (or Other Significant Matters)
ASU No. 2019-12 (Topic 740), Income Taxes	In December 2019, the Financial Accounting Standards Board ("FASB") issued a new standard to simplify the accounting for income taxes. The guidance eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences related to changes in ownership of equity method investments and foreign subsidiaries. The guidance also simplifies aspects of accounting for franchise taxes and enacted changes in tax laws or rates, and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill.	The standard became effective for us beginning April 1, 2021.	We do not expect the adoption to have a material impact in our consolidated financial statements, including accounting policies, processes, and systems.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

Computation of Basic and Diluted Net Income Per Common Share

The following table sets forth the reconciliation of basic and diluted common share:


	Year Ended March 31,
	2021	2020	2019




Basic weighted-average shares outstanding	46,652	45,793	45,827
Dilutive effect of stock options, restricted stock units, and employee stock purchase plan	—	—	1,774
Diluted weighted-average shares outstanding	46,652	45,793	47,601

Summary of Antidilutive Securities Excluded from Computation of Earnings Per Share


	Year Ended March 31,
	2021	2020	2019
Stock options, restricted stock units, and shares under the employee stock purchase plan	5,024	4,933	998

Financial Assets Measured At Fair Value On Recurring Basis

The following table summarizes the composition of our financial assets measured at fair value at March 31, 2020:


March 31, 2020	Level 1		Level 2		Level 3	Total
Assets:
Short-term investments	$	—	44,484		—	$	44,484
Liabilities:
Contingent consideration	—		$	—	217	$	217

Recently Adopted Accounting Standards and Recently Issued Accounting Standards Not Yet Adopted

Recently Adopted Accounting Standards


Standard	Description	Effective Date	Effect on the Consolidated Financial Statements (or Other Significant Matters)
Accounting Standards Update ("ASU") No. 2016-13 (Topic 326), Financial Instruments-Credit Losses	The standard amends guidance on the impairment of financial instruments. The ASU estimates credit losses based on expected losses and provides for a simplified accounting model for purchased financial assets with credit deterioration. The standard requires a modified retrospective basis adoption through a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption.	We adopted this new standard as of April 1, 2020, using the modified retrospective method recognized as of the date of initial application.	The adoption of this new standard resulted in an $84 thousand cumulative effect on our consolidated financial statements related to an adjustment to our allowance for doubtful accounts. Under the new standard, we assess credit losses on accounts receivable by taking into consideration past collection experience, credit quality of the customer, age of the receivable balance, current economic conditions, and forecasts that affect the collectability of the reported amount.

Recently Issued Accounting Standards Not Yet Adopted


Standard	Description	Effective Date	Effect on the Consolidated Financial Statements (or Other Significant Matters)
ASU No. 2019-12 (Topic 740), Income Taxes	In December 2019, the Financial Accounting Standards Board ("FASB") issued a new standard to simplify the accounting for income taxes. The guidance eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences related to changes in ownership of equity method investments and foreign subsidiaries. The guidance also simplifies aspects of accounting for franchise taxes and enacted changes in tax laws or rates, and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill.	The standard became effective for us beginning April 1, 2021.	We do not expect the adoption to have a material impact in our consolidated financial statements, including accounting policies, processes, and systems.

Revenue (Tables)

12 Months Ended

Mar. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

Our typical performance obligations include the following:


Performance Obligation	When Performance Obligation is Typically Satisfied	When Payment is Typically Due	How Standalone Selling Price is Typically Estimated
Software and Products Revenue
Software Licenses	Upon shipment or made available for download (point in time)	Within 90 days of shipment except for certain subscription licenses which are paid for over time	Residual approach
Appliances	When control of the appliances passes to the customer; typically upon delivery	Within 90 days of delivery	Residual approach
Customer Support Revenue
Software Updates	Ratably over the course of the support contract (over time)	At the beginning of the contract period	Observable in renewal transactions
Customer Support	Ratably over the course of the support contract (over time)	At the beginning of the contract period	Observable in renewal transactions
Other Services Revenue
Other Professional Services (except for education services)	As work is performed (over time)	Within 90 days of services being performed	Observable in transactions without multiple performance obligations
Education Services	When the class is taught (point in time)	Within 90 days of services being performed	Observable in transactions without multiple performance obligations
Software-as-a-service (Metallic)	Ratably over the course of the contract (over time)	Annual or monthly payments	Observable in transactions without multiple performance obligations

Disaggregation of Revenue


	Year Ended March 31, 2021
	Americas		EMEA		APJ		Total
Software and Products Revenue	$	187,027	$	101,673	$	38,143	$	326,843
Customer Support Revenue	215,831		100,620		41,330		357,781
Professional Services	21,264		12,138		5,446		38,848
Total Revenue	$	424,122	$	214,431	$	84,919	$	723,472


	Year Ended March 31, 2020
	Americas		EMEA		APJ		Total
Software and Products Revenue	$	141,856	$	95,356	$	38,096	$	275,308
Customer Support Revenue	230,226		88,965		40,939		360,130
Professional Services	18,778		10,459		6,210		35,447
Total Revenue	$	390,860	$	194,780	$	85,245	$	670,885


	Year Ended March 31, 2019
	Americas		EMEA		APJ		Total
Software and Products Revenue	$	170,114	$	95,913	$	43,872	$	309,899
Customer Support Revenue	237,190		82,895		38,662		358,747
Professional Services	23,076		12,380		6,855		42,311
Total Revenue	$	430,380	$	191,188	$	89,389	$	710,957

Contract with Customer, Asset and Liability

The opening and closing balances of our Accounts receivable, Unbilled receivables and Deferred revenues are as follows:


	Accounts Receivable		Unbilled Receivable (current)		Unbilled Receivable (long-term)		Deferred Revenue (current)		Deferred Revenue (long-term)
Opening Balance as of March 31, 2020	$	129,856	$	17,134	$	7,857	$	233,497	$	92,723
Increase/(decrease), net	39,129		2,007		(394)		19,714		26,508
Ending Balance as of March 31, 2021	$	168,985	$	19,141	$	7,463	$	253,211	$	119,231

Business Combination (Tables)

12 Months Ended

Mar. 31, 2021

Business Combinations [Abstract]

Summary of the Purchase Price and Preliminary Purchase Price Allocation as of the Date of Acquisition

The following table summarizes the purchase price and purchase price allocation made as of the date of acquisition:


Purchase price allocation:
Cash paid at closing	157,589
Fair value of restricted stock units included in purchase price	1,616
Fair value of contingent consideration	4,000
Total purchase price	$	163,205

Assets acquired and liabilities assumed:
Cash	94
Trade accounts receivable	1,074
Other current assets	104
Property and equipment	202
Intangible assets	52,000
Other assets	682
Accounts payable and accrued liabilities	(1,060)
Deferred revenue	(2,231)
Operating lease liability, net of operating lease assets	(11)
Deferred tax liability	(84)
Total identifiable net assets acquired and liabilities assumed	50,770
Goodwill	112,435
Total purchase price	$	163,205

Goodwill and Intangible Assets, Net (Tables)

12 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Goodwill balances are as follows:


Balance as of March 31, 2020	$	112,435
Additions/(Impairments)	—
Balance as of March 31, 2021	$	112,435

Purchased Intangible Assets, Net of Amortization

Intangible assets subject to amortization as of March 31, 2021 are as follows:


	Gross Carrying Amount		Accumulated Amortization		Impairment Charge		Net Carrying Value
Developed technology	$	49,000	$	(9,800)	$	(39,200)	$	—
Customer relationships	3,000		(1,500)		(1,500)		—
Total intangible assets	$	52,000	$	(11,300)	$	(40,700)	$	—

Property and Equipment (Tables)

12 Months Ended

Mar. 31, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consist of the following:


	March 31,
	2021		2020
Land	$	9,445	$	9,445
Buildings	103,244		103,244
Computers, servers and other equipment	42,117		40,044
Furniture and fixtures	14,689		14,919
Leasehold improvements	8,089		9,252
Purchased software	1,955		1,637
Construction in process	4,304		2,021
	183,843		180,562
Less: Accumulated depreciation and amortization	(71,064)		(66,043)
	$	112,779	$	114,519

Accrued Liabilities (Tables)

12 Months Ended

Mar. 31, 2021

Payables and Accruals [Abstract]

Accrued Liabilities

Accrued liabilities consist of the following:


	March 31,
	2021		2020
Compensation and related payroll taxes	$	69,890	$	47,356
Other	42,258		39,695
	$	112,148	$	87,051

Commitments and Contingencies (Tables)

12 Months Ended

Mar. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Long-term Purchase Commitment

Total non-cancellable purchase commitments as of March 31, 2021, which relate primarily to marketing and IT services are as follows:


	2022		2023		2024		2025 and beyond		Total
Purchase commitments	$	23,339	$	5,266	$	804	$	591	$	30,000

Schedule of Royalty Expense

Royalty expense, included in Cost of software and products revenues, was as follows:


	Year Ended March 31,
	2021		2020		2019
Royalty expense	$	16,256	$	12,545	$	12,319

Stock Plans (Tables)

12 Months Ended

Mar. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The following summarizes the activity for our stock incentive plans from March 31, 2018 to March 31, 2021:


Options	Number of Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Outstanding at March 31, 2020	1,904	60.03
Options granted	—	—
Options exercised	(257)	41.68
Options forfeited	—	—
Options expired	(290)	66.79
Outstanding at March 31, 2021	1,357	$	62.06	2.12	$	13,711

Exercisable at March 31, 2021	1,357	$	62.06	2.12	$	13,711

Schedule of Restricted Stock Unit Activity

Restricted stock unit activity is as follows:


Non-Vested Restricted Stock Units	Number of Awards	Weighted- Average Grant Date Fair Value
Non-vested as of March 31, 2020	3,237	50.47
Granted	2,096	42.04
Vested	(1,585)	51.32
Forfeited	(297)	51.76
Non-vested as of March 31, 2021	3,451	$	44.90

Stock-Based Compensation Expense


	Year Ended March 31,
	2021		2020		2019
Cost of services revenue	$	3,317	$	2,604	$	2,922
Sales and marketing	35,577		31,779		34,874
Research and development	24,823		14,594		8,601
General and administrative	18,369		15,158		31,458
Restructuring	2,747		1,753		2,632
Stock-based compensation expense	$	84,833	$	65,888	$	80,487

Income Taxes (Tables)

12 Months Ended

Mar. 31, 2021

Income Tax Disclosure [Abstract]

Components of Income Before Income Taxes

The components of income (loss) before income taxes were as follows:


	Year Ended March 31,
	2021		2020		2019
Domestic	$	(28,628)	$	(16,670)	$	(1,762)
Foreign	7,393		4,124		12,189
	$	(21,235)	$	(12,546)	$	10,427

Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) were as follows:


	Year Ended March 31,
	2021		2020		2019
Current:
Federal	$	3,399	$	(10,071)	$	(1,772)
State	196		(613)		103
Foreign	6,215		5,566		8,371
Deferred:
Federal	(113)		284		144
State	—		—		—
Foreign	22		(2,067)		20
	$	9,719	$	(6,901)	$	6,866

Reconciliation of Statutory Tax Rates and Effective Tax Rates

A reconciliation of the statutory tax rates and the effective tax rates for the years ended March 31, 2021, 2020 and 2019 are as follows:


	Year Ended March 31,
	2021		2020		2019
Statutory federal income tax expense (benefit) rate	(21.0)	%	(21.0)	%	21.0	%
State and local income tax expense, net of federal income tax effect	0.9	%	(4.9)	%	1.0	%
Foreign earnings taxed at different rates	10.0	%	12.3	%	25.5	%
U.S. tax on Global Intangible Low-Taxed Income	1.8	%	14.5	%	72.9	%
Domestic permanent differences including acquisition items	1.7	%	7.7	%	7.8	%
Foreign tax credits	(7.8)	%	(19.3)	%	(22.4)	%
Research credits	(68.6)	%	(32.9)	%	(51.8)	%
Tax reserves	(0.1)	%	(0.6)	%	(5.2)	%
Valuation allowance	74.4	%	64.0	%	(76.7)	%
Enacted tax law changes	—	%	10.6	%	(7.8)	%
Stock-based compensation	36.3	%	(43.1)	%	97.2	%
CARES Act Impact	15.0	%	(82.1)	%	—	%
Reduction of NOL for carryback	—	%	59.2	%	—	%
Other differences, net	3.2	%	(19.4)	%	4.3	%
Effective income tax expense (benefit)	45.8	%	(55.0)	%	65.8	%

Components of Deferred Tax Assets

The significant components of our deferred tax assets are as follows:


	March 31,
	2021		2020
Deferred tax assets:
Net operating losses	$	12,586	$	16,075
Equity investment	1,193		1,192
Stock-based compensation	16,280		20,792
Deferred revenue	14,879		16,027
Tax credits	39,062		24,936
Accrued expenses	3,568		4,675
Allowance for doubtful accounts and other reserves	801		546
Less: valuation allowance	(78,339)		(61,702)
Total deferred tax assets	10,030		22,541
Deferred tax liabilities:
Depreciation and amortization	(4,553)		(16,349)
Deferred commissions and other	(6,238)		(7,041)
Total deferred tax liabilities	$	(10,791)	$	(23,390)
Net deferred tax liability	$	(761)	$	(849)

Schedule of Tax Years Subject to Income Tax Examination

The following table summarizes the tax years subject to income tax examinations by tax authorities as of March 31, 2021. The years subject to income tax examination in our foreign jurisdictions cover the maximum time period with respect to these jurisdictions. Due to NOLs, in some cases the tax years continue to remain subject to examination with respect to such NOLs.


Tax Jurisdiction			Years Subject to Income Tax Examination
U.S. Federal			2017 - Present
Foreign jurisdictions			2013 - Present

Reconciliation of Amounts of Unrecognized Tax Benefits

A reconciliation of the amounts of unrecognized tax benefits is as follows:


Balance at March 31, 2018	$	1,740
Additions for tax positions related to fiscal 2019	—
Additions for tax positions related to prior years	547
Settlements and effective settlements with tax authorities and remeasurements	—
Reductions related to the expiration of statutes of limitations	(695)
Foreign currency translation adjustment	—
Balance at March 31, 2019	1,592
Additions for tax positions related to fiscal 2020	170
Additions for tax positions related to prior years	—
Settlements and effective settlements with tax authorities and remeasurements	—
Reductions related to the expiration of statutes of limitations	(100)
Foreign currency translation adjustment	—
Balance at March 31, 2020	1,662
Additions for tax positions related to fiscal 2021	614
Additions for tax positions related to prior years	—
Settlements and effective settlements with tax authorities and remeasurements	—
Reductions related to the expiration of statutes of limitations	(65)
Foreign currency translation adjustment	—
Balance at March 31, 2021	2,211

Segment Information (Tables)

12 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Schedule of Revenue by Geographic Area

The following table sets forth revenue and long-lived assets by geographic area:


	Year Ended March 31,
	2021		2020		2019
Revenue:
United States	$	379,106	$	342,660	$	379,221
Other	344,366		328,225		331,736
	$	723,472	$	670,885	$	710,957

Schedule of Long-Lived Assets by Geographic Area


	March 31,
	2021		2020
Long-lived assets:
United States	$	248,386	$	300,662
Other	48,187		30,728
	$	296,573	$	331,390

Restructuring (Tables)

12 Months Ended

Mar. 31, 2021

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Accruals

For the years ended March 31, 2021, 2020 and 2019, restructuring charges were comprised of the following:


	Year Ended March 31,
	2021		2020		2019
Employee severance and related costs	$	19,040	$	16,834	$	12,133
Lease impairments related costs (1)	1,684		2,761		—
Stock-based compensation	2,747		1,753		2,632
Total restructuring charges	$	23,471	$	21,348	$	14,765

(1) Lease impairment charges relate to seven and six offices for the years ended March 31, 2021 and 2020, respectively. There were no lease impairment charges for the year ended March 31, 2019.

Schedule of Activity in Restructuring Accrual

The activity in our restructuring accrual for the years ended March 31, 2021 and 2020 is as follows:


	Year Ended March 31,
	2021		2020
Beginning balance	$	2,531	$	1,089
Employee severance and related costs	19,040		16,834
Payments	(18,476)		(15,392)
Ending balance	$	3,095	$	2,531

Leases (Tables)

12 Months Ended

Mar. 31, 2021

Leases [Abstract]

Net Lease Cost Recognized on Condensed Consolidated Statement of Operations and Cash Flow Information

Net lease cost recognized in our Consolidated Statements of Operations is summarized as follows:


	Year Ended March 31,
	2021		2020
Operating lease cost	$	9,048	$	8,795
Short-term lease cost	232		410
Variable lease cost	1,938		2,088
Net lease cost	$	11,218	$	11,293

Cash flow information


	Year Ended March 31,
	2021		2020
Cash paid for operating lease liabilities	$	10,370	$	9,476
Additions of operating lease assets	$	17,603	$	8,448

Maturities of Lease Liabilities


2022	$	7,526
2023	4,816
2024	4,071
2025	3,978
2026	2,143
Thereafter	2,535
Total Minimum Lease Payments	$	25,069
Less: Imputed Interest	(2,181)
Present value of operating lease liabilities	$	22,888
Less: Current Portion of operating lease liabilities	7,469
Long-term operating lease liabilities	$	15,419

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2020	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019	Oct. 01, 2019	Mar. 31, 2018
Summary Of Significant Accounting Policies [Line Items]
Advertising expenses		$ 9,560,000	$ 5,579,000	$ 4,678,000
Net foreign currency transaction gain (loss)		(1,918,000)	355,000	984,000
Asset retirement obligation		780,000	1,420,000
Net carrying value		$ 0
Software updates and customer support costs amortization period		5 years
Total stockholders’ equity		$ 394,034,000	411,904,000	$ 391,303,000		$ 404,064,000
Hedvig, Inc.
Summary Of Significant Accounting Policies [Line Items]
Contingent consideration (up to)		8,000,000			$ 8,000,000
Developed technology
Summary Of Significant Accounting Policies [Line Items]
Acquired finite-lived intangible assets, useful life (in years)	5 years
Net carrying value		0
Customer relationships
Summary Of Significant Accounting Policies [Line Items]
Acquired finite-lived intangible assets, useful life (in years)	2 years
Net carrying value		$ 0
Cumulative Effect, Period of Adoption, Adjustment
Summary Of Significant Accounting Policies [Line Items]
Total stockholders’ equity			$ (84,000)
Minimum \| Buildings
Summary Of Significant Accounting Policies [Line Items]
Property and equipment, depreciation period (in years)		10 years
Minimum \| Computers, servers and other equipment
Summary Of Significant Accounting Policies [Line Items]
Property and equipment, depreciation period (in years)		18 months
Minimum \| Furniture and fixtures
Summary Of Significant Accounting Policies [Line Items]
Property and equipment, depreciation period (in years)		3 years
Maximum \| Buildings
Summary Of Significant Accounting Policies [Line Items]
Property and equipment, depreciation period (in years)		60 years
Maximum \| Computers, servers and other equipment
Summary Of Significant Accounting Policies [Line Items]
Property and equipment, depreciation period (in years)		3 years
Maximum \| Furniture and fixtures
Summary Of Significant Accounting Policies [Line Items]
Property and equipment, depreciation period (in years)		12 years
Arrow \| Revenue
Summary Of Significant Accounting Policies [Line Items]
Concentration percentage		36.00%	37.00%	38.00%
Customer concentration risk \| Arrow \| Accounts receivable
Summary Of Significant Accounting Policies [Line Items]
Concentration percentage		33.00%	31.00%

Summary of Significant Accounting Policies - Computation of Diluted Net Income Per Common Share (Detail) - shares shares in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share, Basic and Diluted [Abstract]
Basic weighted-average shares outstanding	46,652	45,793	45,827
Dilutive effect of stock options, restricted stock units, and employee stock purchase plan	0	0	1,774
Diluted weighted-average shares outstanding	46,652	45,793	47,601

Summary of Significant Accounting Policies - Summary of Potential Outstanding Common Stock Equivalents (Detail) - shares shares in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Accounting Policies [Abstract]
Stock options, restricted stock units, and shares under the employee stock purchase plan	5,024	4,933	998

Summary of Significant Accounting Policies - Summary of Fair Value of Financial Assets (Detail) - Fair Value, Recurring $ in Thousands	Mar. 31, 2020 USD ($)
Assets:
Short-term investments	$ 44,484
Liabilities:
Contingent consideration	217
Level 1
Assets:
Short-term investments	0
Liabilities:
Contingent consideration	0
Level 2
Assets:
Short-term investments	44,484
Liabilities:
Contingent consideration	0
Level 3
Assets:
Short-term investments	0
Liabilities:
Contingent consideration	$ 217

Revenue - Additional Information (Detail) $ in Thousands	12 Months Ended
Revenue - Additional Information (Detail) $ in Thousands	Mar. 31, 2021 USD ($) source segment
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Sources of primary revenue \| source	2
Customer support agreement term	1 year
Subscription arrangement term	3 years
Number of operating segments \| segment	1
Revenue recognized in period, included in opening deferred revenue balance	$ 247,579
Revenue expected to be recognized from remaining performance obligations	46,163
Software and products revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized from remaining performance obligations	$ 12,000

Revenue - Performance Obligations (Detail)	12 Months Ended
Revenue - Performance Obligations (Detail)	Mar. 31, 2021
Software Licenses
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, expected payment terms	90 days
Appliances
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, expected payment terms	90 days
Other Professional Services (except for education services)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, expected payment terms	90 days
Education Services
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, expected payment terms	90 days

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Total revenues	$ 723,472	$ 670,885	$ 710,957
Americas
Disaggregation of Revenue [Line Items]
Total revenues	424,122	390,860	430,380
EMEA
Disaggregation of Revenue [Line Items]
Total revenues	214,431	194,780	191,188
APJ
Disaggregation of Revenue [Line Items]
Total revenues	84,919	85,245	89,389
Software and Products Revenue
Disaggregation of Revenue [Line Items]
Total revenues	326,843	275,308	309,899
Software and Products Revenue \| Americas
Disaggregation of Revenue [Line Items]
Total revenues	187,027	141,856	170,114
Software and Products Revenue \| EMEA
Disaggregation of Revenue [Line Items]
Total revenues	101,673	95,356	95,913
Software and Products Revenue \| APJ
Disaggregation of Revenue [Line Items]
Total revenues	38,143	38,096	43,872
Customer Support Revenue
Disaggregation of Revenue [Line Items]
Total revenues	357,781	360,130	358,747
Customer Support Revenue \| Americas
Disaggregation of Revenue [Line Items]
Total revenues	215,831	230,226	237,190
Customer Support Revenue \| EMEA
Disaggregation of Revenue [Line Items]
Total revenues	100,620	88,965	82,895
Customer Support Revenue \| APJ
Disaggregation of Revenue [Line Items]
Total revenues	41,330	40,939	38,662
Professional Services
Disaggregation of Revenue [Line Items]
Total revenues	38,848	35,447	42,311
Professional Services \| Americas
Disaggregation of Revenue [Line Items]
Total revenues	21,264	18,778	23,076
Professional Services \| EMEA
Disaggregation of Revenue [Line Items]
Total revenues	12,138	10,459	12,380
Professional Services \| APJ
Disaggregation of Revenue [Line Items]
Total revenues	$ 5,446	$ 6,210	$ 6,855

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Revenue - Opening and Closing Balances (Receivables) (Details) $ in Thousands	12 Months Ended
	Mar. 31, 2021 USD ($)
Trade accounts receivable
Accounts Receivable [Roll Forward]
Opening Balance	$ 129,856
Increase/(decrease), net	39,129
Ending Balance	168,985
Unbilled Receivable (current) [Roll Forward]
Opening Balance	17,134
Increase/(decrease), net	2,007
Ending Balance	19,141
Other assets
Unbilled Receivable (long-term) [Roll Forward]
Opening Balance	7,857
Increase/(decrease), net	(394)
Ending Balance	$ 7,463

Revenue - Opening and Closing Balances (Deferred Revenue) (Details) $ in Thousands	12 Months Ended
	Mar. 31, 2021 USD ($)
Contract With Customer, Liability, Current [Roll Forward]
Opening Balance	$ 233,497
Ending Balance	253,211
Contract With Customer, Liability, Noncurrent [Roll Forward]
Opening Balance	92,723
Ending Balance	119,231
Deferred revenue
Contract With Customer, Liability, Current [Roll Forward]
Opening Balance	233,497
Increase/(decrease), net	19,714
Ending Balance	253,211
Deferred revenue, less current portion
Contract With Customer, Liability, Noncurrent [Roll Forward]
Opening Balance	92,723
Increase/(decrease), net	26,508
Ending Balance	$ 119,231

Business Combination - Additional Information (Details) $ in Thousands		1 Months Ended	3 Months Ended	12 Months Ended
	Oct. 01, 2019 USD ($)	Apr. 30, 2020 USD ($) purchaseOrder	Jun. 30, 2020 USD ($)	Mar. 31, 2021 USD ($)	Mar. 31, 2020 USD ($)	Mar. 31, 2019 USD ($)
Business Acquisition [Line Items]
Compensation arrangements, vesting period				3 years
Contingent consideration term, number of bona fide and valid purchase order \| purchaseOrder		1
Net change in contingent consideration				$ 0	$ (3,783)	$ 0
Hedvig, Inc.
Business Acquisition [Line Items]
Purchase consideration	$ 163,205
Cash paid	157,589
Fair value of restricted stock units included in purchase price	1,616
Fair value of contingent consideration	4,000				217
Cash payments to shareholders following the date of acquisition	$ 14,100
Cash payments to shareholders following the date of acquisition, period	30 months
Contingent consideration (up to)	$ 8,000			$ 8,000
Net change in contingent consideration		$ 217			$ 3,783
Restricted cash released			$ 7,783
Hedvig, Inc. \| Restricted stock units
Business Acquisition [Line Items]
Compensation arrangements, vesting period	3 years

Business Combination - Summarizes Purchase Price and Preliminary Purchase Price Allocation (Details) - USD ($) $ in Thousands	Oct. 01, 2019	Mar. 31, 2021	Mar. 31, 2020
Business Acquisition [Line Items]
Goodwill		$ 112,435	$ 112,435
Hedvig, Inc.
Business Acquisition [Line Items]
Cash paid at closing	$ 157,589
Fair value of restricted stock units included in purchase price	1,616
Fair value of contingent consideration	4,000		$ 217
Total purchase price	163,205
Cash	94
Trade accounts receivable	1,074
Other current assets	104
Property and equipment	202
Intangible assets	52,000
Other assets	682
Accounts payable and accrued liabilities	(1,060)
Deferred revenue	(2,231)
Operating lease liability, net of operating lease assets	(11)
Deferred tax liability	(84)
Total identifiable net assets acquired and liabilities assumed	50,770
Goodwill	112,435
Total purchase price	$ 163,205

Goodwill and Intangible Assets, Net - Additional Information (Details) - USD ($)		12 Months Ended
	Jan. 01, 2020	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019	Oct. 01, 2019
Goodwill [Line Items]
Goodwill		$ 112,435,000	$ 112,435,000
Goodwill addition		0
Goodwill impairment	$ 0	0
Amortization expenses		5,650,000	5,650,000
Impairment of intangible assets		$ 40,700,000	$ 0	$ 0
Hedvig, Inc.
Goodwill [Line Items]
Goodwill					$ 112,435,000
Goodwill expected tax deductible amount					$ 0

Goodwill and Intangible Assets, Net - Goodwill (Details) $ in Thousands	12 Months Ended
	Mar. 31, 2021 USD ($)
Goodwill [Roll Forward]
Balance as of March 31, 2020	$ 112,435
Additions/(Impairments)	0
Balance as of March 31, 2021	$ 112,435

Goodwill and Intangible Assets, Net - Intangible Assets, Net (Details) - USD ($)	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 52,000,000
Accumulated Amortization	(11,300,000)
Impairment Charge	(40,700,000)	$ 0	$ 0
Net Carrying Value	0
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	49,000,000
Accumulated Amortization	(9,800,000)
Impairment Charge	(39,200,000)
Net Carrying Value	0
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,000,000
Accumulated Amortization	(1,500,000)
Impairment Charge	(1,500,000)
Net Carrying Value	$ 0

Property and Equipment - Schedule of Property and Equipment (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 183,843	$ 180,562
Less: Accumulated depreciation and amortization	(71,064)	(66,043)
Property and equipment, net	112,779	114,519
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	9,445	9,445
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment, gross	103,244	103,244
Computers, servers and other equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	42,117	40,044
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	14,689	14,919
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	8,089	9,252
Purchased software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,955	1,637
Construction in process
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,304	$ 2,021

Property and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 10,228	$ 11,415	$ 12,060
Depreciation expense allocated to cost of goods sold	$ 1,250	$ 1,250	$ 1,250

Accrued Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Payables and Accruals [Abstract]
Compensation and related payroll taxes	$ 69,890	$ 47,356
Other	42,258	39,695
Total accrued liabilities	$ 112,148	$ 87,051

Commitments and Contingencies (Detail) - USD ($)	12 Months Ended
Commitments and Contingencies (Detail) - USD ($)	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Non-cancellable purchase commitments, 2022	$ 23,339,000
Non-cancellable purchase commitments, 2023	5,266,000
Non-cancellable purchase commitments, 2024	804,000
Non-cancellable purchase commitments, 2025 and beyond	591,000
Non-cancellable purchase commitments, Total for all periods through fiscal 2023	30,000,000
Royalty expense	$ 16,256,000	$ 12,545,000	$ 12,319,000
Maximum software warranty period (in days)	90 days
Product warranty accrual	$ 0	$ 0	$ 0

Capitalization (Detail) - USD ($) $ / shares in Units, shares in Thousands	2 Months Ended	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Class of Stock [Line Items]
Common stock, shares outstanding (in shares)	46,482	46,482	46,011
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Amount of common stock repurchased	$ 62,127,000	$ 95,259,000	$ 77,198,000	$ 132,697,000
Number of shares repurchased (in shares)		1,643
Share repurchase program, authorized amount available	$ 200,000,000	$ 200,000,000
Percentage of free cash flow used for additional stock repurchases	75.00%	75.00%
Capital shares reserved for future issuance (in shares)	5,075	5,075

Stock Plans - Additional Information (Detail) $ / shares in Units, shares in Thousands, $ in Thousands			3 Months Ended	12 Months Ended
	Oct. 22, 2020 shares	Oct. 01, 2019	Dec. 31, 2020 $ / shares shares	Mar. 31, 2021 USD ($) stock_plan $ / shares shares	Mar. 31, 2020 USD ($)	Mar. 31, 2019 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted, vesting period				3 years
Unrecognized stock-based compensation expense \| $				$ 120,658
Awards expected to be recognized over a weighted average period (in years)				1 year 10 months 17 days
Total intrinsic value of options exercised \| $				$ 4,306	$ 13,428	$ 39,502
Total fair value of restricted stock units - vested \| $				72,544	48,221	82,957
Restructuring \| $				$ 23,471	$ 21,348	$ 14,765
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value, granted (in dollars per share) \| $ / shares				$ 42.04
2016 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares of common stock that may be delivered under plan (in shares) \| shares	8,050
Addition shares authorized (in shares) \| shares	1,000
Options available for future grant (in shares) \| shares				2,110
2006 Long-Term Stock Inventive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock incentive plans \| stock_plan				1
Hedvig, Inc. \| Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares Issued in acquisition \| shares			1,018
Weighted average grant date fair value, granted (in dollars per share) \| $ / shares			$ 44.49
Stock options granted, vesting period		3 years

Stock Plans - Activity for Company's Two Stock Incentive Plans (Detail) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2021 USD ($) $ / shares shares
Number of Options
Outstanding beginning balance (in shares) \| shares	1,904
Options granted (in shares) \| shares	0
Options exercised (in shares) \| shares	(257)
Options forfeited (in shares) \| shares	0
Options expired (in shares) \| shares	(290)
Outstanding ending balance (in shares) \| shares	1,357
Exercisable at current period end (in shares) \| shares	1,357
Weighted- Average Exercise Price
Weighted-Average Exercise Price, Outstanding beginning balance (in dollars per share) \| $ / shares	$ 60.03
Weighted-Average Exercise Price, Options granted (in dollars per share) \| $ / shares	0
Weighted-Average Exercise Price, Options exercised (in dollars per share) \| $ / shares	41.68
Weighted-Average Exercise Price, Options forfeited (in dollars per share) \| $ / shares	0
Weighted-Average Exercise Price, Options expired (in dollars per share) \| $ / shares	66.79
Weighted-Average Exercise Price, Outstanding ending balance (in dollars per share) \| $ / shares	62.06
Weighted-Average Exercise Price, Exercisable at current period-end (in dollars per share) \| $ / shares	$ 62.06
Weighted- Average Remaining Contractual Term (Years)
Weighted-Average Remaining Contractual Term, Outstanding at current period-end	2 years 1 month 13 days
Weighted-Average Remaining Contractual Term, Exercisable at current period-end	2 years 1 month 13 days
Aggregate Intrinsic Value
Aggregate Intrinsic Value, Outstanding at current period-end \| $	$ 13,711
Aggregate Intrinsic Value, Exercisable at current period-end \| $	$ 13,711

Stock Plans - Restricted Stock Unit Activity (Detail) - Restricted stock units shares in Thousands	12 Months Ended
	Mar. 31, 2021 $ / shares shares
Number of Awards
Number of Awards, Non-vested beginning balance (in shares) \| shares	3,237
Number of Awards, Granted (in shares) \| shares	2,096
Number of Awards, Vested (in shares) \| shares	(1,585)
Number of Awards, Forfeited (in shares) \| shares	(297)
Number of Awards, Non-vested ending balance (in shares) \| shares	3,451
Weighted Average Grant Date Fair Value
Weighted Average grant Date Fair Value, Non-vested beginning balance (in dollars per share) \| $ / shares	$ 50.47
Weighted Average grant Date Fair Value, Granted (in dollars per share) \| $ / shares	42.04
Weighted Average grant Date Fair Value, Vested (in dollars per share) \| $ / shares	51.32
Weighted Average grant Date Fair Value, Forfeited (in dollars per share) \| $ / shares	51.76
Weighted Average grant Date Fair Value, Non-vested ending balance (in dollars per share) \| $ / shares	$ 44.90

Stock Plans - Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 84,833	$ 65,888	$ 80,487
Cost of services revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	3,317	2,604	2,922
Sales and marketing
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	35,577	31,779	34,874
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	24,823	14,594	8,601
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	18,369	15,158	31,458
Restructuring
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 2,747	$ 1,753	$ 2,632

Stock Plans - Awards with a Market Condition (Detail)	12 Months Ended
Stock Plans - Awards with a Market Condition (Detail)	Mar. 31, 2021 tranche $ / shares shares	Mar. 31, 2020 tranche $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period	3 years
Market performance shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awarded (in shares)	299,000	95,000
Service period	3 years	3 years
Number of annual tranches \| tranche	3	3
Weighted average grant date fair value, granted (in dollars per share) \| $ / shares	$ 36.76	$ 48.26
Market performance shares \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards potential to vest, percentage	200.00%	200.00%
Awards potential to vest (in shares)	598,000	190,000
Market performance shares \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards potential to vest, percentage	0.00%	0.00%
Awards potential to vest (in shares)	0	0

Stock Plans - Performance Based Awards (Details) - PSU	1 Months Ended		12 Months Ended
Stock Plans - Performance Based Awards (Details) - PSU	Nov. 30, 2019 shares	May 31, 2019 shares	Mar. 31, 2021 shares	Mar. 31, 2020 tranche shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards, Granted (in shares)	17,000	88,000	0	105,000
Number of annual tranches \| tranche				3
Percentage of shares eligible to vest	46.00%	0.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards potential to vest, percentage				200.00%
Awards potential to vest (in shares)				210,000

Stock Plans - Employee Stock Purchase Plan (Detail) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 84,833	$ 65,888	$ 80,487
Unrecognized stock-based compensation expense	$ 120,658
Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price as a percentage of fair market value	85.00%
Length of offering period (in months)	6 months
Maximum employee payroll percent deduction of salary	10.00%
Maximum amount of stock purchasable by employees within a calendar year	$ 25
Number of shares purchased by employees (in shares)	272	273
Proceeds received	$ 9,812	$ 9,670
Compensation expense	3,417	$ 2,939	$ 3,080
Unrecognized stock-based compensation expense	$ 1,139

Stock Plans - Impact on Stock Compensation Expense for Changes in Senior Leadership (Details) - USD ($) $ in Thousands		12 Months Ended
	Feb. 01, 2019	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense		$ 84,833	$ 65,888	$ 80,487
Restricted stock awards and performance based awards \| Chief executive officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award expiration period				10 years
Original period from last date of employment exercisable	30 days
Compensation expense				$ 12,157

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended		12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Tax Credit Carryforward [Line Items]
Income tax expense (benefit)		$ 10,000,000.0
Adjustment of current income tax benefit	$ 3,200,000
Tax Cuts and Jobs Act, one-time transition tax			$ 0
NOL carry forwards			47,976,000
Deferred tax asset, state NOLs			1,779,000
Unrecognized Tax Benefits
Remaining unrecognized tax benefits			0
State and local
Unrecognized Tax Benefits
Interest and penalties			9,000	$ 6,000	$ 40,000
NOL expiring between 2034 and 2036
Tax Credit Carryforward [Line Items]
NOL carry forwards			22,061,000
NOLs not expiring
Tax Credit Carryforward [Line Items]
NOL carry forwards			25,915,000
Research tax credit carryforward \| Federal
Tax Credit Carryforward [Line Items]
Research tax credit			27,828,000
Research tax credit carryforward \| State and local
Tax Credit Carryforward [Line Items]
Research tax credit			$ 13,743,000

Income Taxes - Components of Income Before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Domestic	$ (28,628)	$ (16,670)	$ (1,762)
Foreign	7,393	4,124	12,189
Income (loss) before income taxes	$ (21,235)	$ (12,546)	$ 10,427

Income Taxes - Components of Income Tax Expense (Benefit) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Current:
Federal	$ 3,399	$ (10,071)	$ (1,772)
State	196	(613)	103
Foreign	6,215	5,566	8,371
Deferred:
Federal	(113)	284	144
State	0	0	0
Foreign	22	(2,067)	20
Income tax expense (benefit)	$ 9,719	$ (6,901)	$ 6,866

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes - Reconciliation of Statutory Tax Rates and Effective Tax Rates (Detail)	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Statutory federal income tax expense (benefit) rate	(21.00%)	(21.00%)	(21.00%)
State and local income tax expense, net of federal income tax effect	0.90%	(4.90%)	(1.00%)
Foreign earnings taxed at different rates	10.00%	12.30%	(25.50%)
U.S. tax on Global Intangible Low-Taxed Income	1.80%	14.50%	(72.90%)
Domestic permanent differences including acquisition items	1.70%	7.70%	(7.80%)
Foreign tax credits	(7.80%)	(19.30%)	22.40%
Research credits	(68.60%)	(32.90%)	51.80%
Tax reserves	(0.10%)	(0.60%)	5.20%
Valuation allowance	74.40%	64.00%	76.70%
Enacted tax law changes	0.00%	10.60%	7.80%
Stock-based compensation	36.30%	(43.10%)	(97.20%)
CARES Act Impact	15.00%	(82.10%)	0.00%
Reduction of NOL for carryback	0.00%	59.20%	0.00%
Other differences, net	3.20%	(19.40%)	(4.30%)
Effective income tax expense (benefit)	45.80%	(55.00%)	(65.80%)

Income Taxes - Components of Deferred Tax Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Deferred tax assets:
Net operating losses	$ 12,586	$ 16,075
Equity investment	1,193	1,192
Stock-based compensation	16,280	20,792
Deferred revenue	14,879	16,027
Tax credits	39,062	24,936
Accrued expenses	3,568	4,675
Allowance for doubtful accounts and other reserves	801	546
Less: valuation allowance	(78,339)	(61,702)
Total deferred tax assets	10,030	22,541
Deferred tax liabilities:
Depreciation and amortization	(4,553)	(16,349)
Deferred commissions and other	(6,238)	(7,041)
Total deferred tax liabilities	(10,791)	(23,390)
Net deferred tax liability	$ (761)	$ (849)

Income Taxes - Reconciliation of Amounts of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 1,662	$ 1,592	$ 1,740
Additions for tax positions related to current fiscal period	614	170	0
Additions for tax positions related to prior years	0	0	547
Settlements and effective settlements with tax authorities and remeasurements	0	0	0
Reductions related to the expiration of statutes of limitations	(65)	(100)	(695)
Foreign currency translation adjustment	0	0	0
Ending balance	$ 2,211	$ 1,662	$ 1,592

Employee Benefit Plan - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Retirement Benefits [Abstract]
Company contributions to defined contribution plan	$ 2,445	$ 2,487	$ 2,786

- Definition

Amount of contribution received by defined benefit plan from employer which increases plan assets.

+ References + Details

Segment Information - Additional Information (Detail)	12 Months Ended
Segment Information - Additional Information (Detail)	Mar. 31, 2021 segment
Segment Reporting [Abstract]
Number of reportable segments	1

Segment Information - Schedule of Revenue by Geographic Area (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 723,472	$ 670,885	$ 710,957
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	379,106	342,660	379,221
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 344,366	$ 328,225	$ 331,736

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 825
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

+ Details

Segment Information - Schedule of Long-Lived Assets by Geographic Area (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 296,573	$ 331,390
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	248,386	300,662
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 48,187	$ 30,728

Restructuring - Restructuring Charges (Details)	12 Months Ended
Restructuring - Restructuring Charges (Details)	Mar. 31, 2021 USD ($) office	Mar. 31, 2020 USD ($) office	Mar. 31, 2019 USD ($)
Restructuring and Related Activities [Abstract]
Employee severance and related costs	$ 19,040,000	$ 16,834,000	$ 12,133,000
Lease impairments related costs	1,684,000	2,761,000	0
Stock-based compensation	2,747,000	1,753,000	2,632,000
Total restructuring charges	$ 23,471,000	$ 21,348,000	$ 14,765,000
Number of leases related to lease impairment \| office	7	6

Restructuring - Activity in Restructuring Accruals (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Restructuring Reserve [Roll Forward]
Beginning balance	$ 2,531	$ 1,089
Employee severance and related costs	19,040	16,834	$ 12,133
Payments	(18,476)	(15,392)
Ending balance	$ 3,095	$ 2,531	$ 1,089

Leases - Net Lease Costs Recognized (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Leases [Abstract]
Operating lease cost	$ 9,048	$ 8,795
Short-term lease cost	232	410
Variable lease cost	1,938	2,088
Net lease cost	$ 11,218	$ 11,293

Leases - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2021	Mar. 31, 2020
Leases [Abstract]
Rental expense	$ 11,474
Weighted-average discount rate, operating leases		4.00%	4.00%
Weighted-average remaining operating lease term		4 years 5 months 4 days	3 years 1 month 2 days

Leases - Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Leases [Abstract]
Cash paid for operating lease liabilities	$ 10,370	$ 9,476
Additions of operating lease assets	$ 17,603	$ 8,448

Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Leases [Abstract]
2022	$ 7,526
2023	4,816
2024	4,071
2025	3,978
2026	2,143
Thereafter	2,535
Total Minimum Lease Payments	25,069
Less: Imputed Interest	(2,181)
Present value of operating lease liabilities	22,888
Less: Current Portion of operating lease liabilities	7,469	$ 7,699
Long-term operating lease liabilities	$ 15,419	$ 8,808

Schedule II - Valuation and Qualifying Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Allowance for doubtful accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 122	$ 489	$ 104
Charged (Credited) to Costs and Expenses	333	(246)	569
Charged to Other Accounts	84	0	0
Write-offs/Deductions	(56)	(121)	(184)
Balance at End of Year	483	122	489
Valuation allowance for deferred taxes
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	61,702	50,160	58,350
Charged (Credited) to Costs and Expenses	16,637	11,542	(8,190)
Charged to Other Accounts	0	0	0
Write-offs/Deductions	0	0	0
Balance at End of Year	$ 78,339	$ 61,702	$ 50,160