Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]  
Summary of Signification Customer Information
Significant customer information is as follows:
 
   
March 31,
2021
  
March 31,
2020
 
Percentage of accounts receivable:
   
Customer A
   0%   89% 
Customer C
   35%   2% 
Customer D
   40%   0% 
 
   
Year Ended March 31,
 
   
2021
  
2020
  
2019
 
Percentage of revenue:
    
Customer C
   21%   25%   24% 
Customer B
   16%   8%   2% 
Summary of Property Plant and Equipment Estimated Useful Lives
The estimated useful lives of the Company’s property and equipment are as follows:
 
Computer and software  3 years
Laboratory equipment and software  5 years
Furniture and office equipment  5 years
Leasehold improvements  Shorter of remaining lease
term or estimated useful life
Summary of Disaggregation of Revenue by Category
The following table presents revenue by category:
 
   
Year Ended March 31,
 
   
2021
  
2020
  
2019
 
   
Amount
   
Percentage
of Revenue
  
Amount
   
Percentage
of Revenue
  
Amount
   
Percentage
of Revenue
 
   
(in thousands, except percentages)
 
Consumer services
  $197,525    81%  $271,639    89%  $425,534    96% 
Research services
   46,341    19   28,268    9   12,385    3 
Therapeutics
   54    0   5,556    2   2,981    1 
  
 
 
   
 
 
  
 
 
   
 
 
  
 
 
   
 
 
 
Total
  $243,920    100%  $305,463    100%  $440,900    100% 
  
 
 
   
 
 
  
 
 
   
 
 
  
 
 
   
 
 
 
Summary of Disaggregation of Revenue by Region
The following table summarizes revenue by region based on the shipping address of customers or the location where the services are delivered:
 
   
Year Ended March 31,
 
   
2021
  
2020
  
2019
 
   
Amount
   
Percentage
of Revenue
  
Amount
   
Percentage
of Revenue
  
Amount
   
Percentage
of Revenue
 
   
(in thousands, except percentages)
 
United States
  $176,120    72%  $241,769    79%  $390,757    89% 
United Kingdom
   49,386    20   41,770    14   22,194    5 
Canada
   12,172    5   14,481    5   18,588    4 
Other regions
   6,242    3   7,443    2   9,361    2 
  
 
 
   
 
 
  
 
 
   
 
 
  
 
 
   
 
 
 
International
   67,800    28   63,694    21   50,143    11 
  
 
 
   
 
 
  
 
 
   
 
 
  
 
 
   
 
 
 
Total
  $243,920    100%  $305,463    100%  $440,900    100% 
  
 
 
   
 
 
  
 
 
   
 
 
  
 
 
   
 
 
 
Summary of Revenue and Adjusted EBITDA by Segment
The Company’s revenue and Adjusted EBITDA by segment is as follows:
 
   
Year Ended March 31,
 
   
2021
   
2020
   
2019
 
   
(in thousands)
 
Segment Revenue
      
Consumer & Research Services
  $243,866   $299,907   $437,919 
Therapeutics
   54    5,556    2,981 
  
 
 
   
 
 
   
 
 
 
Total revenue
  $243,920   $305,463   $440,900 
  
 
 
   
 
 
   
 
 
 
Segment Adjusted EBITDA
      
Consumer & Research Services Adjusted EBITDA
  $12,796   $(65,845)   $(85,822) 
Therapeutics Adjusted EBITDA
   (58,734)    (52,883)    (31,776) 
Unallocated Corporate
   (30,587)    (28,460)    (23,793) 
  
 
 
   
 
 
   
 
 
 
Total Adjusted EBITDA
  $(76,525)   $(147,188)   $(141,391) 
  
 
 
   
 
 
   
 
 
 
Reconciliation of net loss to Adjusted EBITDA
      
Net loss
  $(183,619)   $(250,863)   $(183,533) 
Adjustments:
      
Interest (income), net
   (255)    (6,244)    (5,269) 
Other (income) / expense, net
   (1,322)    (1,340)    19 
Depreciation and amortization
   20,246    22,610    9,901 
Stock-based compensation expense
   88,425    43,957    37,491 
Restructuring and other charges
1
   —     44,692    —  
  
 
 
   
 
 
   
 
 
 
Total Adjusted EBITDA
  $(76,525)   $(147,188)   $(141,391) 
  
 
 
   
 
 
   
 
 
 
 
1)
For the year ended March 31, 2020, restructuring includes $0.9 million of stock-based compensation expense related to restructuring activities.
Summary of Segment Revenues to Significant Customers
Customers accounting for 10% or more of segment revenues were as follows:
 
   
Year Ended March 31,
 
   
2021
  
2020
  
2019
 
   
(in thousands, except percentages)
 
Consumer & Research Services Segment Revenue:
          
Customer C
1
  $51,786    21%  $76,087    25%  $107,318    25% 
Customer B
2
  $39,917    16%  $23,768    8%  $6,533    1% 
Therapeutics Segment Revenue:
          
Customer B
2
  $—     0%  $2,981    54%  $2,981    100% 
Customer E
2
  $54    100%  $2,575    46%  $—     0% 
 
1)
Customer C revenues are primarily in the United States.
2)
Customer B revenues are in the United Kingdom and Customer E is in a region other than the United States, United Kingdom or Canada.