Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition

v3.21.2
Revenue Recognition
 6 Months Ended
Sep. 30, 2021
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Disaggregation of revenue
The following table is a summary of the Company’s total revenues by geographic region (in thousands, except percentages):
Three Months Ended September 30, Six Months Ended September 30,
2021 2020 2021 2020
Amount % Amount % Amount % Amount %
North America $ 123,892  54  % $ 93,511  56  % $ 236,664  54  % $ 180,888  56  %
Europe, Middle East and Africa 69,347  31  % 51,852  31  % 136,391  31  % 98,923  31  %
Asia Pacific 23,939  11  % 19,271  11  % 46,075  11  % 36,211  11  %
Latin America 9,176  4  % 3,952  2  % 16,964  4  % 8,072  2  %
Total revenue $ 226,354  $ 168,586  $ 436,094  $ 324,094 
For the three and six months ended September 30, 2021 and 2020, the United States was the only country that represented more than 10% of the Company’s revenues in any period, constituting $115.1 million and 51% and $87.1 million and 52% of total revenue during the three months ended September 30, 2021 and 2020, respectively, and $219.6 million and 50% and $169.1 million and 52% of total revenue for the six months ended September 30, 2021 and 2020, respectively.
Deferred revenue
Revenues recognized during the three months ended September 30, 2021 and 2020, which was included in the deferred revenue balances at the beginning of each respective period, was $186.4 million and $137.0 million, respectively. Revenues recognized during the six months ended September 30, 2021 and 2020 which was included in the deferred revenue balances at the beginning of each respective period, was $385.9 million and $283.3 million, respectively.
Remaining performance obligations
As of September 30, 2021, the aggregate amount of the transaction price allocated to remaining performance obligations was $1,253.4 million, which consists of both billed consideration in the amount of $484.1 million and unbilled consideration in the amount of $769.3 million that the Company expects to recognize as subscription and service revenue. The Company expects to recognize 57% of this amount as revenue over the next twelve months and the remainder thereafter.