Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.22.1
Stock-Based Compensation
 6 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
Equity Plan Activity
The following table summarizes stock option activity:
Number of Shares Weighted-Average Exercise Price
(per share)		 Weighted-Average Remaining
Contractual
Life
(in years)		 Aggregate Intrinsic Value
(in thousands)
Options outstanding as of March 31, 2021
 8,146,445  $ 4.01  6.86 $ 622,249 
Granted 630,989  72.31 
Forfeited / Cancelled (214,884) 8.41 
Exercised (658,549) 3.27 
Options outstanding as of September 30, 2021
 7,904,001  $ 9.40  6.65 $ 473,227 
Vested and expected to vest (net of estimated forfeitures) at September 30, 2021
 7,784,152  $ 9.04  6.61 $ 468,633 
Exercisable as of September 30, 2021
 5,642,551  $ 3.58  5.83 $ 368,277 
At September 30, 2021 and 2020, total unrecognized stock-based compensation expense related to unvested stock options, net of estimated forfeitures, was $28,197 and $8,956, respectively, with expected remaining weighted-average recognition periods of 2.48 years and 2.25 years, respectively.
The following table summarizes restricted stock unit ("RSU") and restricted stock award ("RSA") activity:
Number of Shares Weighted-Average Grant Date Fair Value
Unvested restricted shares outstanding as of March 31, 2021
 333,544  $ 4.55 
Granted 332,061  45.62 
Vested (298,350) 3.69 
Cancelled (3,526) 13.88 
Unvested restricted shares outstanding as of September 30, 2021
 363,729  $ 42.65 
At September 30, 2021 and 2020, total unrecognized stock-based compensation expense related to RSUs and RSAs was $12,152 and $1,463, respectively, with expected remaining weighted-average recognition periods of 2.32 years and 2.01 years, respectively.
Stock-Based Compensation Expense
As of September 30, 2021, 11,274,655 shares of common stock were available for issuance as future awards under the Company's equity incentive plans. Stock-based compensation expense for the three and six months ended September 30, 2021, was $5,926 and $9,631, respectively, and was recorded within general and administrative expenses on the condensed consolidated statements of operations and comprehensive income. Stock-based compensation expense for the three and six months ended September 30, 2020, was $2,515 and $4,126, respectively, and was recorded within general and administrative expenses on the condensed consolidated statements of operations and comprehensive income.