• Filing Date: 2020-06-24
  • Form Type: 10-K
  • Description: Annual report
v3.20.1
STOCK INCENTIVE PLANS AND SHARE-BASED COMPENSATION (Tables)
12 Months Ended
Mar. 31, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of shares reserved fro future issuance under the ESPP
We have reserved shares of common stock for future issuance under our ESPP as follows:
 
March 31,
 
2020
 
2019
Shares available for issuance at beginning of period
497

 
497

Additional shares authorized during the period
900

 

   Total shares available for future issuance at end of period
1,397

 
497

Schedule of valuation assumptions for ESPP
The weighted-average grant date fair value and the assumptions used in calculating fair values of shares forecasted to be issued pursuant to our ESPP are as follows:
 
Year Ended March 31,
 
2020
 
2019
 
2018
Expected life
0.5 years
 
n/a
 
0.5 years
Volatility
49.81%
 
n/a
 
0.05%
Risk-free interest rate
0.41%
 
n/a
 
91%
Dividend yield
—%
 
n/a
 
—%
Weighted-average grant date fair value
$4.78
 
n/a
 
$2.20
Schedule of valuation assumptions
Assumptions used in the Monte Carlo model to calculate fair values of market PSU’s during each fiscal period are as follows:
Weighted-Average
 
2020
 
2019
 
2018
Discount period (years)
 
3.00
 
1.95
 
7.00
Risk-free interest rate
 
1.45%
 
2.63%
 
2.48%
Stock price volatility
 
72.00%
 
69.35%
 
75.52%
Grant date fair value
 
$5.92
 
$1.70
 
$4.29
Summary of activity for PSUs
The following table summarizes activity for Market PSUs and Performance PSUs for the year ended March 31, 2020:
 
Shares
 
Weighted-Average
Grant Date Fair Value per Share
Outstanding as of March 31, 2019
770

 
$
1.78

Granted
1,807

 
$
4.99

Vested
(311
)
 
$
1.94

Forfeited or cancelled
(322
)
 
$
5.67

Outstanding as of March 31, 2020
1,944

 
$
4.09

Summary of activity relating to restricted stock
The following table summarizes activity for restricted stock units for the year ended March 31, 2020:
 
Shares
 
Weighted-Average
Grant Date Fair Value per Share
Outstanding as of March 31, 2019
1,313

 
$
3.61

Granted
645

 
$
4.77

Vested
(877
)
 
$
4.55

Forfeited or cancelled
(95
)
 
$
5.54

Outstanding as of March 31, 2020
986

 
$
3.42

Summary of share-based compensation expense
The following table details the Company's stock-based compensation, net of forfeitures:
 
Year Ended March 31,
 
2020
 
2019
 
2018
Cost of revenue
$
452

 
$
334

 
$
725

Research and development
984

 
440

 
906

Sales and marketing
1,165

 
179

 
1,790

General and administrative
4,147

 
2,456

 
1,973

Total share-based compensation
$
6,748

 
$
3,409

 
$
5,394


 
Year Ended March 31,
 
2020
 
2019
 
2018
Restricted stock units
$
3,610

 
$
3,178

 
$
5,004

Performance share units
3,103

 
274

 
(171
)
Stock options

 
(43
)
 
44

Employee stock purchase plan
35

 

 
517

Total share-based compensation
$
6,748

 
$
3,409

 
$
5,394