0001804591-24-000038 | 10-K | XBRL Viewer

Segment Information (Tables)

12 Months Ended

Mar. 31, 2024

Schedule Of Company Revenue and Adjusted EBITDA by Segment

The Company’s revenue and Adjusted EBITDA by segment is as follows:


	Year Ended March 31,
	2024		2023		2022
	(in thousands)
Segment Revenue: (1)
Consumer and Research Services	$	219,638	$	299,489	$	271,893
Total revenue	$	219,638	$	299,489	$	271,893
Segment Adjusted EBITDA:
Consumer and Research Services Adjusted EBITDA	$	(36,769)	$	(17,997)	$	(30,112)
Therapeutics Adjusted EBITDA	(91,025)		(88,503)		(76,944)
Unallocated Corporate (2)	(48,002)		(54,801)		(43,684)
Total Adjusted EBITDA	$	(175,796)	$	(161,301)	$	(150,740)
Reconciliation of net loss to Adjusted EBITDA:
Net loss	$	(666,704)	$	(311,656)	$	(217,490)
Adjustments
Interest income, net	(14,331)		(9,676)		(277)
Other (income) expense, net	(506)		93		83
Change in fair value of warrant liabilities	—		—		(32,989)
Provision for (benefit from) income taxes	73		(2,772)		(3,480)
Depreciation and amortization	18,033		20,239		18,899
Amortization of acquired intangible assets	11,448		16,486		7,269
Impairment of acquired intangible assets	—		9,968		—
Stock-based compensation expense	120,209		116,017		57,933
Acquisition-related costs (3)	—		—		9,362
Litigation settlement, net (4)	98		—		9,950
Loss on disposition of Lemonaid Health Limited and transaction-related costs (5)	2,375		—		—
Goodwill impairment (6)	351,744		—		—
Cybersecurity incident expenses, net of probable insurance recoveries (7)	1,765		—		—
Total Adjusted EBITDA	$	(175,796)	$	(161,301)	$	(150,740)

(1)All product and service revenue is associated with the Consumer and Research Services segment and there was no Therapeutics revenue for the fiscal years ended March 31, 2024, 2023 and 2022.

(2)Certain expenses such as Finance, Legal, Regulatory and Supplier Quality, Corporate Communications, Corporate Development, and CEO Office are not reported as part of the reporting segments as reviewed by the CODM. These amounts are included in Unallocated Corporate.

(3)For the fiscal year ended March 31, 2022, acquisition-related costs primarily consisted of advisory, legal and consulting fees.

(4)Litigation settlement, net is litigation cost net of probable insurance recoveries, which is not expected to occur on a recurring basis and not part of the Company's normal and continued business activity.

(5)Refer to Note 19, “Disposition of Subsidiary” for additional information.

(6)Refer to Note 10, “Balance Sheet Components — Goodwill” for additional information.

(7)Refer to Note 13, “Commitments and Contingencies — Cybersecurity Incident” for additional information.

Summary of Customers Accounting for 10% or More of Segment Revenues

Customers accounting for 10% or more of segment revenues were as follows:


	Year Ended March 31,
	2024				2023				2022
	(in thousands, except percentages)
Consumer and Research Services Segment Revenue:
Customer C (1) (2)	$	48,325	22	%	$	65,721	22	%	$	53,875	20	%
Customer B (3)	$	11,753	5	%	$	47,448	16	%	$	46,064	17	%

(1)Customer C is a reseller

(2)Customer C revenues are primarily in the United States.

(3)Customer B revenues are in the U.K.

Recapitalization (Details) $ / shares in Units, $ in Thousands					12 Months Ended
	Jun. 17, 2021	Jun. 16, 2021 USD ($) $ / shares shares	Jun. 16, 2021 $ / shares shares	Feb. 04, 2021 USD ($) tradingDay $ / shares shares	Mar. 31, 2024 USD ($) $ / shares shares	Mar. 31, 2023 USD ($) $ / shares shares	Mar. 31, 2022 USD ($)
Reverse Recapitalization [Line Items]
Acquired ownership percentage		100.00%	100.00%
Proceeds from issuance of common stock, consummation of Merger \| $		$ 559,700
Proceeds from issuance of common stock merger \| $		309,700
Proceeds from PIPE \| $		250,000			$ 0	$ 0	$ 250,000
Transaction costs \| $		$ 33,700					33,726
Common stock, par value (in usd per share) \| $ / shares		$ 0.0001	$ 0.0001		$ 0.0001	$ 0.0001
Number of shares called by each warrant (in shares) \| shares		1	1
Period after closing date				1 year
Stock price trigger (in usd per share) \| $ / shares				$ 12.00
Trading days \| tradingDay				20
Trading days, period after Business Combination \| tradingDay				30
Days after Business Combination				150 days
Percentage of founder shares released from lock-up				70.00%
Anniversary of closing date				1 year
Related Party
Reverse Recapitalization [Line Items]
Proceeds from PIPE \| $					$ 0	$ 0	$ 25,000
Founder shares
Reverse Recapitalization [Line Items]
Shares restricted for transfer (in shares) \| shares				12,713,750
VG Acquisition Sponsor LLC
Reverse Recapitalization [Line Items]
Lockup period for shares	7 years
Earn-out shares, percentage				50.00%
Restricted Stock Units
Reverse Recapitalization [Line Items]
Shares conversion ratio		2.293698169
Common Stock Class A
Reverse Recapitalization [Line Items]
Shares conversion ratio		2.293698169
Common stock, par value (in usd per share) \| $ / shares		$ 0.0001	$ 0.0001
Lock up for Class A common stock in connection with the Merger				180 days
Common stock, shares outstanding (in shares) \| shares					323,394,807	293,020,474
Trading days				20 days
Number of trading days after commencing				30 days
Subscription shares issued (in shares) \| shares				25,000,000
Common Stock Class A \| PIPE Investment
Reverse Recapitalization [Line Items]
Gross proceeds \| $				$ 250,000
Common Stock Class A \| VG Acquisition Sponsor LLC
Reverse Recapitalization [Line Items]
Common stock, price per share (in usd per share) \| $ / shares				$ 10.00
Common Stock Class A \| The Anne Wojcicki Foundation \| Related Party
Reverse Recapitalization [Line Items]
Subscription shares issued (in shares) \| shares				2,500,000
Common Stock Class A \| VG Acquisition Sponsor LLC
Reverse Recapitalization [Line Items]
Trading days				20 days
Number of trading days after commencing				30 days
Common Stock Class A \| VG Acquisition Sponsor LLC \| Minimum
Reverse Recapitalization [Line Items]
Share price thresholds release from lock up (in usd per share) \| $ / shares				$ 12.50
Common Stock Class A \| VG Acquisition Sponsor LLC \| Maximum
Reverse Recapitalization [Line Items]
Share price thresholds release from lock up (in usd per share) \| $ / shares				$ 15.00
Common Stock Class A \| Restricted Stock Units
Reverse Recapitalization [Line Items]
Shares conversion ratio		2.293698169
Common Stock Class B
Reverse Recapitalization [Line Items]
Shares conversion ratio		2.293698169	2.293698169
Common stock, par value (in usd per share) \| $ / shares		$ 0.0001	$ 0.0001
Common stock, shares outstanding (in shares) \| shares					166,724,586	168,179,488
Common Stock Class B \| Founder shares
Reverse Recapitalization [Line Items]
Percentage of shares restricted for transfer				70.00%
Common Stock Class B \| VGAC
Reverse Recapitalization [Line Items]
Remaining ownership percentage acquired				30.00%
Common Stock Class B \| VG Acquisition Sponsor LLC
Reverse Recapitalization [Line Items]
Common stock, shares outstanding (in shares) \| shares				3,814,125

Subsequent Events	12 Months Ended
Subsequent Events	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Special Committee On April 17, 2024, Anne Wojcicki, Chief Executive Officer, Co-Founder, and Chair of the Board of Directors of 23andMe amended her Schedule 13D filing with the Securities and Exchange Commission to disclose that she is considering making a proposal to acquire all of the outstanding shares of 23andMe that she does not currently own. As of the date of such amendment, Ms. Wojcicki owned shares constituting more than 20% of the total outstanding shares, entitling her to approximately 49% of the voting power of the total outstanding shares of 23andMe. Ms. Wojcicki also indicated in her Schedule 13D filing that she wishes to maintain control of 23andMe and, therefore, will not be willing to support any alternative transaction. On April 18, 2024, the Company announced that the Board had formed a special committee composed of independent members of the Board (the “Special Committee”) on March 28, 2024. The role of the Special Committee is to review strategic alternatives that may be available to 23andMe to maximize shareholder value. The special committee will carefully review Ms. Wojcicki’s proposal when and if it is made available and evaluate it in light of other available strategic alternatives, including continuing to operate as a publicly traded company. The Special Committee is committed to acting in the best interests of 23andMe and its shareholders. Purchase Obligations In May 2024, the Company entered into a non-cancellable, long-term contract extension with a vendor to purchase PGS Kits with additional estimated future minimum payments of $11.3 million through December 2026.

Summary of Significant Accounting Policies - Summary of Significant Customer Information (Details) - Customer Concentration Risk	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Customer C \| Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	59.00%	69.00%
Customer C \| Revenue
Concentration Risk [Line Items]
Concentration risk, percentage	22.00%	22.00%	20.00%
Customer F \| Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	0.00%	27.00%
Customer I \| Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	30.00%	0.00%
Customer B \| Revenue
Concentration Risk [Line Items]
Concentration risk, percentage	5.00%	16.00%	17.00%

Related Party Transactions	12 Months Ended
Related Party Transactions	Mar. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions As described in Note 6, “Collaborations,” in July 2018, the Company and GSK entered into the original GSK Agreement, and there were transactions with GSK during the fiscal years ended March 31, 2024, 2023 and 2022. At the time the original GSK Agreement was entered into, GSK also purchased 17,291,066 shares of Series F-1 redeemable convertible preferred stock of 23andMe, Inc. These shares were converted into a like number of shares of 23andMe, Inc. Class B common stock immediately prior to the Merger and were exchanged pursuant to the Share Conversion Ratio into shares of the Company’s Class B common stock in the Business Combination. GSK had a 19.9% and 20.1% voting interest in the Company as of March 31, 2024 and 2023, respectively. As described in Note 3, “Recapitalization,” in February 2021, concurrently with the execution of the Merger Agreement, VGAC entered into subscription agreements with certain investors to which such investors collectively subscribed for an aggregate of 25,000,000 shares of the Company’s Class A common stock at $10.00 per share for aggregate gross proceeds of $250.0 million. The Anne Wojcicki Foundation, which subscribed for 2,500,000 shares of the Company’s Class A common stock, is affiliated with the Company’s CEO and therefore a related party. In January 2024, the Company entered into a research services agreement (the “TWF Agreement”) and related statement of work (the “initial SOW”) with the Troper Wojcicki Foundation (“TWF”) with the goal of expanding scientific knowledge in the field of lung cancer using the Company’s phenotype and genotype data to build large scale research cohorts. Susan Wojcicki is a director and officer of TWF, and a sibling of the Company's CEO, Anne Wojcicki, and therefore the Company determined that TWF is a related party. The TWF Agreement has a term of five years through December 21, 2028. The fees under the initial SOW are $5.4 million, payable in installments over the term of the TWF Agreement, with certain payments being subject to specified milestones being achieved. During the fiscal year ended March 31, 2024, the Company recognized revenue of $0.3 million from TWF. As of March 31, 2024, the Company had deferred revenue of $1.0 million associated with this arrangement.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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+ Details

Retirement Benefit Plans (Details) - USD ($) $ in Thousands	12 Months Ended
Retirement Benefit Plans (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Retirement Benefits [Abstract]
Employer matching contribution, percent of match	100.00%
Employer matching contribution, percent of employees' gross pay	2.00%
Employer matching contribution	$ 2,300
Contributions cost	$ 2,700	$ 2,600	$ 1,700

Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) (Parenthetical) $ in Thousands	12 Months Ended
	Mar. 31, 2022 USD ($)
Transaction costs	$ 33,726
Affiliated Entity
Transaction costs	$ 25,000

Balance Sheet Components (Tables)

12 Months Ended

Mar. 31, 2024

Balance Sheet Related Disclosures [Abstract]

Prepaid Expense and Other Current Assets

Prepaid expense and other current assets consisted of the following:


	March 31, 2024		March 31, 2023
	(in thousands)
Prepaid expenses	$	9,296	$	13,244
Other receivables	5,751		3,003
Other current assets	1,794		2,977
Prepaid expenses and other current assets	$	16,841	$	19,224

Property and Equipment, Net

Property and equipment, net consisted of the following:


	March 31, 2024		March 31, 2023
	(in thousands)
Computer equipment and software	$	7,485	$	10,376
Laboratory equipment and software	51,635		52,785
Furniture and office equipment	8,929		8,946
Leasehold improvements	41,180		40,964
Capitalized asset retirement obligations	853		853
Property and equipment, gross	110,082		113,924
Less: accumulated depreciation and amortization	(81,731)		(75,316)
Property and equipment, net	$	28,351	$	38,608

Operating Lease, Right-of-Use Assets, Net

Operating lease right-of-use assets, net consisted of the following:


	March 31, 2024	March 31, 2023
	(in thousands)
Operating lease right-of-use assets	85,166	85,408
Less: accumulated amortization	(36,272)	(29,330)
Operating lease right-of-use assets, net	48,894	56,078

Schedule of Internal-Use Software

Internal-use software, net consisted of the following:


	March 31, 2024		March 31, 2023
	(in thousands)
Capitalized internal-use software	$	35,918	$	25,180
Less: accumulated amortization	(15,402)		(9,519)
Internal-use software, net	$	20,516	$	15,661

Summary of Intangible Assets, Net

Intangible assets, net consisted of the following:


	March 31, 2024
	Weighted Average Remaining Useful Life (Years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(in thousands, except years)
Customer relationships	0.0	$	14,900	$	(14,900)	$	—
Partnerships	7.6	9,000		(2,175)		6,825
Trademark	2.6	11,000		(5,317)		5,683
Developed technology	4.6	24,100		(8,320)		15,780
Non-compete agreements	2.6	2,800		(1,353)		1,447
Patents	4.5	5,500		(1,980)		3,520
Total intangible assets		$	67,300	$	(34,045)	$	33,255


	March 31, 2023
	Weighted Average Remaining Useful Life (Years)	Gross Carrying Amount		Accumulated Amortization		Cumulative Impairment Charge		Cumulative Currency Translation		Net Carrying Amount
	(in thousands, except years)
Customer relationships	0.6	$	14,900	$	(10,554)	$	—	$	—	$	4,346
Partnerships	8.6	23,200		(4,385)		(9,968)		(1,122)		7,725
Trademark	3.6	11,000		(3,117)		—		—		7,883
Developed technology	5.6	24,100		(4,877)		—		—		19,223
Non-compete agreements	3.6	2,800		(793)		—		—		2,007
Patents	5.5	5,500		(1,164)		—		—		4,336
Total intangible assets		$	81,500	$	(24,890)	$	(9,968)	$	(1,122)	$	45,520

Summary of Future Amortization of Intangible Assets

Estimated future amortization expense of the identified intangible assets as of March 31, 2024 was as follows:


	Estimated Amortization
	(in thousands)
Fiscal years ending March 31,
2025	$	7,919
2026	7,919
2027	6,769
2028	5,006
2029	3,176
Thereafter	2,466
Total estimated future amortization expense	$	33,255

Schedule of Change in Carrying Amount of Goodwill

The following table presents the changes in the carrying amount of goodwill for the Consumer and Research Services reporting unit:


	Carrying Amount
	(in thousands)
As of March 31, 2023	$	351,744
Less: Impairment	(351,744)
As of March 31, 2024	$	—

Schedule of Accrued Expense and Other Current Liabilities

Accrued expense and other current liabilities consisted of the following:


	March 31, 2024		March 31, 2023
	(in thousands)
Accrued payables	$	12,957	$	17,030
Accrued compensation and benefits	4,266		5,898
Accrued vacation	7,221		8,839
Accrued bonus	7,420		21,600
Accrued clinical expenses	9,291		11,707
Accrued taxes and other	1,108		1,356
Total accrued expenses and other current liabilities	$	42,263	$	66,430

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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+ Details

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net loss	$ (666,704,000)	$ (311,656,000)	$ (217,490,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	23,227,000	32,071,000	23,699,000
Amortization and impairment of internal-use software	6,255,000	4,427,000	2,449,000
Stock-based compensation expense	120,209,000	116,017,000	57,933,000
Changes in fair value of warrant liabilities	0	0	(32,989,000)
Impairment of long-lived assets	0	10,126,000	0
Goodwill impairment	351,744,000	0	0
Loss on disposition of Lemonaid Health Limited	2,026,000	0	0
Other operating activities	(529,000)	77,000	85,000
Changes in operating assets and liabilities:
Accounts receivable, net	(1,427,000)	1,483,000	(899,000)
Inventories	(2,218,000)	542,000	(4,262,000)
Deferred cost of revenue	584,000	2,325,000	(2,219,000)
Prepaid expenses and other current assets	(1,231,000)	6,653,000	(10,077,000)
Operating lease right-of-use assets	7,185,000	7,393,000	7,078,000
Other assets	1,152,000	(429,000)	(1,820,000)
Accounts payable (includes related party amounts of $623, $(9,381) and $8,145, respectively)	(996,000)	(24,573,000)	22,856,000
Accrued expenses and other current liabilities (includes related party amounts of $(1,986), $2,966 and $(1,293), respectively)	(7,104,000)	2,671,000	8,316,000
Deferred revenue (includes related party amounts of $9,246, $2,572 and $(20,959), respectively)	12,307,000	(418,000)	(8,799,000)
Operating lease liabilities	(8,790,000)	(8,934,000)	(7,054,000)
Other liabilities	(9,000)	(3,165,000)	(3,635,000)
Net cash used in operating activities	(164,319,000)	(165,390,000)	(166,828,000)
Cash flows from investing activities:
Purchases of property and equipment	(1,129,000)	(4,048,000)	(3,968,000)
Proceeds from sale of property and equipment	30,000	5,000	1,000
Purchases of intangible assets	0	0	(5,500,000)
Capitalized internal-use software costs	(8,527,000)	(7,262,000)	(4,505,000)
Cash paid for acquisitions, net of cash acquired	0	0	(94,165,000)
Net cash used in investing activities	(9,626,000)	(11,305,000)	(108,137,000)
Cash flows from financing activities:
Proceeds from exercise of stock options	909,000	4,203,000	16,998,000
Proceeds from issuance of common stock under employee stock purchase plan	3,262,000	6,464,000	0
Payments for taxes related to net share settlement of equity awards	(230,000)	(197,000)	0
Payments of deferred offering costs	(357,000)	(693,000)	(30,642,000)
Proceeds from issuance of common stock upon merger	0	0	309,720,000
Proceeds from PIPE (includes related party amounts of nil, nil and $25,000, respectively)	0	0	250,000,000
Proceeds from exercise of merger warrants	0	0	44,000
Payment for warrant redemptions	0	0	(116,000)
Net cash provided by financing activities	3,584,000	9,777,000	546,004,000
Effect of exchange rates on cash and cash equivalents	0	385,000	(146,000)
Net (decrease) increase in cash, cash equivalents and restricted cash	(170,361,000)	(166,533,000)	270,893,000
Cash, cash equivalents and restricted cash — beginning of period	395,222,000	561,755,000	290,862,000
Cash, cash equivalents and restricted cash — end of period	224,861,000	395,222,000	561,755,000
Supplemental disclosures of non-cash investing and financing activities:
Purchases of property and equipment included in accounts payable and accrued expenses	97,000	473,000	722,000
Stock-based compensation capitalized for internal-use software costs	3,606,000	3,191,000	1,166,000
Reclassification of deferred offering costs	0	0	3,971,000
Assumption of merger warrants liability	0	0	75,415,000
Deferred offering costs during the period included in accounts payable and accrued expenses	1,000	45,000	0
Conversion of redeemable convertible preferred stock to common stock	0	0	837,351,000
Redemption/exercise of Class A common stock warrants	0	0	42,354,000
Stock consideration in acquisition of businesses, including fair value of common stock issued and stock-based awards that were vested	0	0	322,842,000
Reconciliation of cash, cash equivalents, and restricted cash within the consolidated balance sheets to the amounts shown in the consolidated statements of cash flows above:
Cash and cash equivalents	216,488,000	386,849,000	553,182,000
Restricted cash, current	1,399,000	1,399,000	1,599,000
Restricted cash, noncurrent	6,974,000	6,974,000	6,974,000
Total cash, cash equivalents and restricted cash	$ 224,861,000	$ 395,222,000	$ 561,755,000

Balance Sheet Components - Change in Carrying Amount of Goodwill (Details) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Goodwill [Roll Forward]
Goodwill, Beginning Balance		$ 351,744,000	$ 351,744,000
Less: Impairment	$ (152,900,000)	$ (198,800,000)	(351,744,000)	$ 0	$ 0
Goodwill, Ending Balance	$ 0		$ 0	$ 351,744,000

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Subsequent Events (Details) - USD ($) $ in Thousands	May 31, 2024	Apr. 17, 2024	Mar. 31, 2024
Subsequent Event [Line Items]
Long-term purchase contract with vendor			$ 17,098
Subsequent Event
Subsequent Event [Line Items]
Long-term purchase contract with vendor	$ 11,300
Subsequent Event \| 23AndMe Holding Co. \| Anne Wojcicki
Subsequent Event [Line Items]
Shareholder ownership percentage of total outstanding shares		20.00%
Shareholder, voting power of total outstanding shares		49.00%

Related Party Transactions (Details) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended		3 Months Ended	12 Months Ended
	Feb. 04, 2021	Jan. 31, 2024	Jul. 31, 2018	Mar. 31, 2024	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Related Party Transaction [Line Items]
Revenue					$ 219,638	$ 299,489	$ 271,893
Related Party
Related Party Transaction [Line Items]
Revenue					$ 12,004	$ 47,448	$ 46,064
Common Stock Class A
Related Party Transaction [Line Items]
Subscription shares issued (in shares)	25,000,000
Common Stock Class A \| PIPE Investment
Related Party Transaction [Line Items]
Gross proceeds	$ 250,000
Common Stock Class A \| The Anne Wojcicki Foundation \| Related Party
Related Party Transaction [Line Items]
Subscription shares issued (in shares)	2,500,000
Common Stock Class A \| VG Acquisition Sponsor LLC
Related Party Transaction [Line Items]
Common stock, price per share (in usd per share)	$ 10.00
GSK Collaboration Agreement \| Related Party
Related Party Transaction [Line Items]
Voting interest percentage					19.90%	20.10%
GSK Collaboration Agreement \| Series F1 Redeemable Convertible Preferred Stock \| Related Party
Related Party Transaction [Line Items]
Redeemable convertible preferred stock purchase (in shares)			17,291,066
TWF Agreement \| Related Party
Related Party Transaction [Line Items]
Revenue				$ 300
TWF Agreement \| Troper Wojcicki Foundation \| Related Party
Related Party Transaction [Line Items]
Research service agreement, period		5 years
Fees under initial SOW		$ 5,400		$ 1,000	$ 1,000

Segment Information - Schedule of Company Revenue and Adjusted EBITDA by Segment (Details) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Segment Revenue
Recognized revenue			$ 219,638,000	$ 299,489,000	$ 271,893,000
Segment Adjusted EBITDA
Total Adjusted EBITDA			(175,796,000)	(161,301,000)	(150,740,000)
Adjustments
Net loss			(666,704,000)	(311,656,000)	(217,490,000)
Interest income, net			(14,331,000)	(9,676,000)	(277,000)
Other (income) expense, net			(506,000)	93,000	83,000
Changes in fair value of warrant liabilities			0	0	(32,989,000)
Provision for (benefit from) income taxes			73,000	(2,772,000)	(3,480,000)
Depreciation and amortization			18,033,000	20,239,000	18,899,000
Amortization of acquired intangible assets			11,448,000	16,486,000	7,269,000
Impairment of acquired intangible assets			0	9,968,000	0
Stock-based compensation expense			120,209,000	116,017,000	57,933,000
Acquisition-related costs			0	0	9,362,000
Litigation settlement, net			98,000	0	9,950,000
Loss on disposition and transaction-related costs			2,375,000	0	0
Goodwill impairment	$ 152,900,000	$ 198,800,000	351,744,000	0	0
Cybersecurity incident expenses, net of probable insurance recoveries			1,765,000	0	0
Total Adjusted EBITDA			(175,796,000)	(161,301,000)	(150,740,000)
Corporate, Non-Segment
Segment Adjusted EBITDA
Total Adjusted EBITDA			(48,002,000)	(54,801,000)	(43,684,000)
Consumer and Research Services
Segment Revenue
Recognized revenue			219,638,000	299,489,000	271,893,000
Consumer and Research Services \| Operating Segments
Segment Adjusted EBITDA
Total Adjusted EBITDA			(36,769,000)	(17,997,000)	(30,112,000)
Therapeutics
Segment Revenue
Recognized revenue			0	0	0
Therapeutics \| Operating Segments
Segment Adjusted EBITDA
Total Adjusted EBITDA			$ (91,025,000)	$ (88,503,000)	$ (76,944,000)

Equity Incentive Plans and Stock-Based Compensation - Summary of the Activity Under the Stock Plan (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Balance, Beginning of period (in shares)	68,050,752
Granted (in shares)	13,097,016
Exercised (in shares)	(2,082,713)
Cancelled/forfeited/expired (in shares)	(8,325,285)
Balance, End of period (in shares)	70,739,770	68,050,752
Vested and exercisable as of End of period (in shares)	52,562,963
Weighted-Average Exercise Price
Balance, Beginning of period (in usd per share)	$ 4.20
Granted (in usd per share)	1.25
Exercised (in usd per share)	0.44
Cancelled/Forfeited/Expired (in usd per share)	4.94
Balance, End of period (in usd per share)	3.68	$ 4.20
Vested and exercisable as of End of period (in usd per share)	$ 4.12
Weighted-Average Remaining Contractual Life (Years)
Balance, Beginning of period	5 years 1 month 6 days	6 years
Balance, End of period	5 years 1 month 6 days	6 years
Vested and Exercisable as of End of period	4 years
Aggregate Intrinsic Value
Balance, Beginning of period	$ 306	$ 10,621
Balance, End of period	306	$ 10,621
Vested and exercisable as of End of period	$ 306

Balance Sheet Components - Schedule of Accrued Expense and Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Accrued payables	$ 12,957	$ 17,030
Accrued compensation and benefits	4,266	5,898
Accrued vacation	7,221	8,839
Accrued bonus	7,420	21,600
Accrued clinical expenses	9,291	11,707
Accrued taxes and other	1,108	1,356
Total accrued expenses and other current liabilities	$ 42,263	$ 66,430

Net Loss Per Share Attributable to Common Stockholders

12 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Net Loss Per Share Attributable to Common Stockholders

The Company has two classes of common stock and, as such, applies the two class method of computing earnings per share. As the rights are identical, including liquidation and dividend rights, except the Company’s Class B common stock has additional voting rights and is convertible at any time at the option of the holder into Class A common stock, and is automatically converted into Class A common stock upon transfer (except for certain permitted transfers), the net loss attributable to common stockholders is allocated on a proportionate basis, and the resulting net loss per share is identical for Class A and Class B common stock under the two-class method.

No dividends were declared or paid for the fiscal years ended March 31, 2024, 2023 and 2022.

The Company’s stock options, RSUs, restricted stock awards subject to vesting, estimated RSUs to be issued under the 2022 AIP and estimated shares to be issued under the ESPP are considered to be potential common stock equivalents but have been excluded from the calculation of diluted net loss per share attributable to common stockholders as their effect is anti-dilutive.

Net loss attributable to common stockholders was equivalent to net loss for all periods presented.

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the periods presented:


	Year Ended March 31,
	2024				2023				2022
	Class A		Class B		Class A		Class B		Class A		Class B
	(in thousands, except share and per share data)
Numerator:
Net loss attributable to common stockholders	$	(431,876)	$	(234,828)	$	(185,112)	$	(126,544)	$	(68,620)	$	(148,870)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	308,330,435		167,651,830		268,177,185		183,327,192		114,064,921		247,463,198
Net loss per share attributable to common stockholders:
Net loss per share attributable to common stockholders, basic and diluted	$	(1.40)	$	(1.40)	$	(0.69)	$	(0.69)	$	(0.60)	$	(0.60)

The potential shares of Class A common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive were as follows:


	Year Ended March 31,
	2024	2023	2022
Outstanding stock options	70,739,770	68,050,752	73,609,565
Unvested restricted stock units	44,056,670	26,562,566	10,676,378
Shares subject to vesting	—	2,576,082	3,512,839
2022 AIP RSUs	13,116,407	8,460,836	—
ESPP	2,561,500	2,937,194	2,239,756
Total	130,474,347	108,587,430	90,038,538

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Jun. 16, 2021	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Revenue		$ 219,638	$ 299,489	$ 271,893
Net loss		666,704	311,656	217,490
Total restricted cash		$ 8,400	8,400
Membership fee period one		1 month
Membership fee period two		3 months
Membership fee period three		12 months
Advertising costs		$ 37,500	49,100	54,700
Deferred advertising costs		400	1,600
Proceeds from Merger				309,700
Proceeds from PIPE	$ 250,000	0	0	250,000
Cash and cash equivalents		$ 216,488	$ 386,849	$ 553,182
Minimum
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Internal use software, useful life		2 years
Maximum
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Internal use software, useful life		4 years
Supplier Concentration Risk \| Cost of Goods and Service, Product and Service Benchmark \| Microarrays
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Concentration risk, percentage		100.00%	100.00%	100.00%
Supplier Concentration Risk \| Cost of Goods and Service, Product and Service Benchmark \| Kits
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Concentration risk, percentage		100.00%	100.00%	100.00%
Supplier Concentration Risk \| Cost of Goods and Service, Product and Service Benchmark \| Laboratory Services
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Concentration risk, percentage		100.00%	100.00%	100.00%
Change In Total Project Resources
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Revenue				$ 9,000
Net loss				$ 9,000
Net loss per share, basic (in usd per share)				$ 0.02
Net loss per share, diluted (in usd per share)				$ 0.02

Organization and Description of Business (Details)	12 Months Ended
Organization and Description of Business (Details)	Mar. 31, 2024 reportable_segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reportable segments	2

Net Loss Per Share - Schedule of Basic And Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Numerator:
Net loss attributable to common stockholders	$ (666,704)	$ (311,656)	$ (217,490)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)	475,982,265	451,504,377	361,528,119
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)	475,982,265	451,504,377	361,528,119
Net loss per share of Class A and Class B common stock attributable to common stockholders:
Net loss per share attributable to common stockholders, basic (in usd per share)	$ (1.40)	$ (0.69)	$ (0.60)
Net loss per share attributable to common stockholders, diluted (in usd per share)	$ (1.40)	$ (0.69)	$ (0.60)
Common Stock Class A
Numerator:
Net loss attributable to common stockholders	$ (431,876)	$ (185,112)	$ (68,620)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)	308,330,435	268,177,185	114,064,921
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)	308,330,435	268,177,185	114,064,921
Net loss per share of Class A and Class B common stock attributable to common stockholders:
Net loss per share attributable to common stockholders, basic (in usd per share)	$ (1.40)	$ (0.69)	$ (0.60)
Net loss per share attributable to common stockholders, diluted (in usd per share)	$ (1.40)	$ (0.69)	$ (0.60)
Common Stock Class B
Numerator:
Net loss attributable to common stockholders	$ (234,828)	$ (126,544)	$ (148,870)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)	167,651,830	183,327,192	247,463,198
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)	167,651,830	183,327,192	247,463,198
Net loss per share of Class A and Class B common stock attributable to common stockholders:
Net loss per share attributable to common stockholders, basic (in usd per share)	$ (1.40)	$ (0.69)	$ (0.60)
Net loss per share attributable to common stockholders, diluted (in usd per share)	$ (1.40)	$ (0.69)	$ (0.60)

Variable Interest Entities (Additional Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022	Feb. 15, 2024
Recognized revenue	$ 219,638	$ 299,489	$ 271,893
Net loss	$ 666,704	311,656	$ 217,490
VIE
Change of nominee prior notice period	180 days
Recognized revenue	$ 30,200	40,200
Net loss	$ 10,800	$ 14,000
Affiliated Pharmacies
Ownership percentage				100.00%

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (c)
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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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
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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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 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 13: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147480167/946-830-55-10

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147483581/946-220-45-7

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

- 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

+ Details

Balance Sheet Components - Prepaid Expense and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Prepaid expenses	$ 9,296	$ 13,244
Other receivables	5,751	3,003
Other current assets	1,794	2,977
Prepaid expenses and other current assets	$ 16,841	$ 19,224

Recapitalization	12 Months Ended
Recapitalization	Mar. 31, 2024
Reverse Recapitalization [Abstract]
Recapitalization	Recapitalization As discussed in Note 1, “Organization and Description of Business,” on the Closing Date, VGAC completed the acquisition of 23andMe, Inc. and acquired 100% of 23andMe, Inc.’s shares. 23andMe, Inc. received gross proceeds of $559.7 million, which includes $309.7 million in proceeds from issuance of common stock upon the consummation of the Merger and $250.0 million in proceeds from the PIPE Investment (as defined below). The Company recorded $33.7 million of transaction costs, which consisted of legal, accounting, and other professional services directly related to the Business Combination. These costs were included in additional paid-in capital on the Company’s consolidated balance sheet. The cash outflows related to these costs were presented as financing activities on the Company’s consolidated statement of cash flows. These deferred offering costs are offset against proceeds upon accounting for the consummation of the Merger. On the Closing Date, each holder of 23andMe, Inc. Class A common stock received approximately 2.293698169 shares of the Company’s Class A common stock, par value $0.0001 per share, and each holder of 23andMe, Inc. Class B common stock received approximately 2.293698169 shares of the Company’s Class B common stock, par value $0.0001 per share. See Note 14, “Stockholders' Equity,” for additional details of the Company’s stockholders’ equity prior to and subsequent to the Merger. All equity awards of 23andMe, Inc. were assumed by the Company and converted into comparable equity awards that are settled or exercisable for shares of the Company’s Class A common stock. As a result, each outstanding stock option was converted into an option to purchase shares of the Company’s Class A common stock based on an exchange ratio of 2.293698169, and each outstanding restricted stock unit was converted into restricted stock units of the Company that, upon vesting, may be settled for shares of the Company’s Class A common stock based on an exchange ratio of 2.293698169. Each public and private warrant of VGAC that was unexercised at the time of the Merger was assumed by the Company and represented the right to purchase one share of the Company’s Class A common stock upon exercise of such warrant. The Merger was accounted for as a reverse recapitalization with 23andMe, Inc. as the accounting acquirer and VGAC as the acquired company for accounting purposes. 23andMe, Inc. was determined to be the accounting acquirer since 23andMe, Inc.’s stockholders prior to the Merger had the greatest voting interest in the combined entity, 23andMe, Inc.’s stockholders appointed the initial directors of the combined Board of Directors and control future appointments, 23andMe, Inc. comprises all of the ongoing operations, and 23andMe, Inc.’s senior management directs operations of the combined entity. Accordingly, all historical financial information presented in these consolidated financial statements represents the accounts of 23andMe, Inc. and its wholly owned subsidiary. Net assets were stated at historical cost consistent with the treatment of the transaction as a reverse recapitalization of 23andMe, Inc. Lock-Up and Earn-Out Shares Pursuant to the Company’s Bylaws, shares of Class A common stock received as consideration in connection with the Merger (or securities convertible into or exchangeable for shares of Class A common stock) could not be sold or otherwise disposed of or hedged by its stockholders for a period of 180 days after the Closing Date (the “Lock-Up Period”). Except with respect to securities subject to the Sponsor Letter Agreement (as defined below) or as otherwise restricted by applicable securities laws or Company policies, following the expiration of the Lock-Up Period on December 14, 2021, the Company’s stockholders were no longer restricted from selling securities held by them. Pursuant to a Letter Agreement (the “VGAC IPO Letter Agreement”) entered into on October 1, 2020 by and among VGAC, VG Acquisition Sponsor LLC (the “Sponsor”), and the then officers and directors of VGAC (collectively, the “VGAC Insiders”), as amended by a Sponsor Letter Agreement (the “Sponsor Letter Agreement”), dated as of February 4, 2021, by and among 23andMe, Inc., VGAC, the Sponsor, the VGAC Insiders and Credit Suisse Securities (USA) LLC as representative of the several underwriters named in the underwriting agreement with respect to the initial public offering of VGAC (the “Underwriters”), the VGAC Insiders agreed to certain transfer restrictions applicable to 12,713,750 of the Class B ordinary shares of VGAC held by the Sponsor and VGAC Insiders (the “Founder Shares”), which were converted in the Business Combination to a like number of shares of Class A common stock of the Company. Pursuant to the VGAC IPO Letter Agreement, as amended by the Sponsor Letter Agreement, 70% of the Founder Shares cannot be transferred (subject to certain limited exceptions) until the earlier to occur of (i) one year after the Closing Date, or (ii) the date following the completion of the Business Combination on which the Company completes a liquidation, merger, share exchange, or other similar transaction that results in all of the stockholders having the right to exchange their ordinary shares for cash, securities, or other property. Notwithstanding the foregoing, if the closing price of the Company’s Class A common stock equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading-day period commencing at least 150 days after the Business Combination, 70% of the Founder Shares will be released from the lock-up. Following the one-year anniversary of the Closing Date, the Founder Shares were released and distributed to the Sponsors and VGAC Insiders in August 2022. The Founder Shares are issued and outstanding Class A common shares that cannot be forfeited, and as such meet the criteria for equity classification in accordance with ASC 505, Equity (“ASC 505”). Following the closing of the Merger, 3,814,125 of the Class B ordinary shares of VGAC held by the Sponsor as of the date of the Sponsor Letter Agreement (the “Earn-Out Shares”), which constitute the remaining 30% of the Founder Shares, and were converted in the Business Combination into a like number of shares of the Company’s Class A common stock, are subject to a lock-up of seven years. The lock-up has an early release effective (i) with respect to 50% of the Earn-Out Shares, upon the closing price of the Company’s Class A common stock equaling or exceeding $12.50 per share for any 20 trading days within any 30-trading-day period, and (ii) with respect to the other 50% of the Earn-Out Shares, upon the closing price of the Company’s Class A common stock equaling or exceeding $15.00 per share for any 20 trading days within any 30-trading-day period; provided that the transfer restrictions applicable to the Earn-Out Shares will terminate on the date following the closing date on which the Company completes a liquidation, merger, amalgamation, capital stock exchange, reorganization, or other similar transaction that results in all of the Company’s public stockholders having the right to exchange their shares of Class A common stock for cash, securities, or other property (a “Liquidation Event”), if such Liquidation Event occurs prior to the date that the stock price thresholds referenced in (i) and (ii) are met. As of March 31, 2024, the Company did not meet any earn out thresholds. The Earn-Out Shares are issued and outstanding Class A common shares that cannot be forfeited, and as such meet the criteria for equity classification in accordance with ASC 505. PIPE Investment On February 4, 2021, concurrently with the execution of the Merger Agreement, VGAC entered into subscription agreements with certain investors (the “PIPE Investors”) to which such investors collectively subscribed for an aggregate of 25,000,000 shares of the Company’s Class A common stock at $10.00 per share for aggregate gross proceeds of $250.0 million (the “PIPE Investment”). The Anne Wojcicki Foundation, which subscribed for 2,500,000 shares of the Company’s Class A common stock, is affiliated with the Company’s CEO and therefore a related party. The PIPE Investment was consummated concurrently with the closing of the Merger.

Leases - Schedule of Future Minimum Lease Payments Related to Company's Operating Lease Liability (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Leases [Abstract]
2025	$ 14,225
2026	15,946
2027	15,472
2028	11,666
2029	12,016
Thereafter	29,414
Total future operating lease payments	98,739
Less: imputed interest	(22,224)
Total operating lease liabilities	$ 76,515

Equity Incentive Plans and Stock-Based Compensation - Summary of the Stock-Based Compensation (Details) $ in Thousands	12 Months Ended
	Mar. 31, 2024 USD ($) officer	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 120,209	$ 116,017	$ 57,933
Cost of revenue (1) \| Secondary Sale Transaction
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	6,234	10,874	4,029
Research and development \| Secondary Sale Transaction
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	37,765	48,837	26,540
Sales and marketing \| Secondary Sale Transaction
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	6,567	8,635	5,122
General and administrative \| Secondary Sale Transaction
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	68,020	47,671	22,242
General and administrative \| Secondary Sale Transaction \| Former Lemonaid Officer
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 32,800
Former officers terminated \| officer	2
Restructuring and other charges \| Secondary Sale Transaction
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 1,623	$ 0	$ 0

Leases (Tables)

12 Months Ended

Mar. 31, 2024

Leases [Abstract]

Schedule of Lease Costs and Other Information of Lease

The components of lease costs and other information related to leases were as follows:


	Year Ended March 31,
	2024			2023			2022
	(in thousands, except years and percentages)
Operating lease cost	$	13,487		$	13,650		$	13,640
Variable lease cost	4,403			5,422			6,425
Total lease cost	$	17,890		$	19,072		$	20,065

Cash paid for amounts included in the measurement of operating lease liabilities, net	$	(15,011)		$	(14,941)		$	(13,490)
ROU assets obtained in exchange for new operating lease obligations	$	—		$	7,930		$	—

Weighted average remaining lease term (years)	6.6			7.5			8.4
Weighted average discount rate	8		%	8		%	7		%

Schedule of Future Minimum Lease Payments Related to Company's Operating Lease Liability

As of March 31, 2024, the future minimum lease payments included in the measurement of the Company’s operating lease liabilities were as follows:


	As of March 31, 2024
	(in thousands)
Years ending March 31,
2025	$	14,225
2026	15,946
2027	15,472
2028	11,666
2029	12,016
Thereafter	29,414
Total future operating lease payments	98,739
Less: imputed interest	(22,224)
Total operating lease liabilities	$	76,515

Restructuring - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 8,368	$ 0	$ 0
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 6,700

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Revenue - Summary of Revenue By Category (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Disaggregation Of Revenue [Line Items]
Revenue	$ 219,638	$ 299,489	$ 271,893
Service
Disaggregation Of Revenue [Line Items]
Revenue	191,816	265,840	257,749
Service \| Point in Time
Disaggregation Of Revenue [Line Items]
Revenue	175,596	217,827	205,002
Service \| Over Time
Disaggregation Of Revenue [Line Items]
Revenue	44,042	81,662	66,891
PGS
Disaggregation Of Revenue [Line Items]
Revenue	167,744	202,414	202,681
PGS \| Point in Time
Disaggregation Of Revenue [Line Items]
Revenue	145,113	182,866	189,703
PGS \| Over Time
Disaggregation Of Revenue [Line Items]
Revenue	22,631	19,548	12,978
Telehealth
Disaggregation Of Revenue [Line Items]
Revenue	34,567	44,722	19,207
Telehealth \| Point in Time
Disaggregation Of Revenue [Line Items]
Revenue	26,486	34,961	15,299
Telehealth \| Over Time
Disaggregation Of Revenue [Line Items]
Revenue	8,081	9,761	3,908
Consumer services
Disaggregation Of Revenue [Line Items]
Revenue	202,311	247,136	221,888
Consumer services \| Point in Time
Disaggregation Of Revenue [Line Items]
Revenue	171,599	217,827	205,002
Consumer services \| Over Time
Disaggregation Of Revenue [Line Items]
Revenue	30,712	29,309	16,886
Research services
Disaggregation Of Revenue [Line Items]
Revenue	17,327	52,353	50,005
Research services \| Point in Time
Disaggregation Of Revenue [Line Items]
Revenue	3,997	0	0
Research services \| Over Time
Disaggregation Of Revenue [Line Items]
Revenue	13,330	52,353	50,005
Therapeutics
Disaggregation Of Revenue [Line Items]
Revenue	$ 0	$ 0	$ 0
Product Concentration Risk \| Revenue
Disaggregation Of Revenue [Line Items]
Concentration risk, percentage	100.00%	100.00%	100.00%
Product Concentration Risk \| Revenue \| Service \| Point in Time
Disaggregation Of Revenue [Line Items]
Concentration risk, percentage	80.00%	73.00%	76.00%
Product Concentration Risk \| Revenue \| Service \| Over Time
Disaggregation Of Revenue [Line Items]
Concentration risk, percentage	20.00%	27.00%	24.00%
Product Concentration Risk \| Revenue \| PGS
Disaggregation Of Revenue [Line Items]
Concentration risk, percentage	76.00%	68.00%	75.00%
Product Concentration Risk \| Revenue \| PGS \| Point in Time
Disaggregation Of Revenue [Line Items]
Concentration risk, percentage	66.00%	61.00%	70.00%
Product Concentration Risk \| Revenue \| PGS \| Over Time
Disaggregation Of Revenue [Line Items]
Concentration risk, percentage	10.00%	7.00%	5.00%
Product Concentration Risk \| Revenue \| Telehealth
Disaggregation Of Revenue [Line Items]
Concentration risk, percentage	16.00%	15.00%	7.00%
Product Concentration Risk \| Revenue \| Telehealth \| Point in Time
Disaggregation Of Revenue [Line Items]
Concentration risk, percentage	12.00%	12.00%	6.00%
Product Concentration Risk \| Revenue \| Telehealth \| Over Time
Disaggregation Of Revenue [Line Items]
Concentration risk, percentage	4.00%	3.00%	1.00%
Product Concentration Risk \| Revenue \| Consumer services
Disaggregation Of Revenue [Line Items]
Concentration risk, percentage	92.00%	83.00%	82.00%
Product Concentration Risk \| Revenue \| Consumer services \| Point in Time
Disaggregation Of Revenue [Line Items]
Concentration risk, percentage	78.00%	73.00%	76.00%
Product Concentration Risk \| Revenue \| Consumer services \| Over Time
Disaggregation Of Revenue [Line Items]
Concentration risk, percentage	14.00%	10.00%	6.00%
Product Concentration Risk \| Revenue \| Research services
Disaggregation Of Revenue [Line Items]
Concentration risk, percentage	8.00%	17.00%	18.00%
Product Concentration Risk \| Revenue \| Research services \| Point in Time
Disaggregation Of Revenue [Line Items]
Concentration risk, percentage	2.00%	0.00%	0.00%
Product Concentration Risk \| Revenue \| Research services \| Over Time
Disaggregation Of Revenue [Line Items]
Concentration risk, percentage	6.00%	17.00%	18.00%

Collaborations - Additional Information (Detail) $ in Thousands	1 Months Ended			12 Months Ended
	Oct. 31, 2023 program	Oct. 31, 2022 USD ($)	Jul. 31, 2018	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Revenue				$ 219,638	$ 299,489	$ 271,893
Cost of revenue				120,261	164,993	138,948
Accounts payable				42,263	66,430
Related Party
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Revenue				12,004	47,448	46,064
Cost of revenue				295	530	299
GSK
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Collaboration agreement, period			4 years
Aggregate cash consideration for collaboration arrangement		$ 50,000
GSK \| Related Party
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Deferred revenue for customer services					11,800
Revenue				11,800	47,400	46,100
Cost of revenue				300	500	300
Research and development expense				12,800	10,700	24,000
Accounts payable				10,600	11,900
GSK 2023 Amendment
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Proceeds from license fees				20,000
License for data access expiration period	1 year
Programs, opted-out of cost sharing and other research and development \| program	3
GSK 2023 Amendment \| Related Party
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Deferred revenue for customer services				20,000
Revenue				$ 0	$ 0	$ 0

Revenue - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Disaggregation Of Revenue [Line Items]
Revenue recognized from unreturned kits	$ 22.1	$ 27.7	$ 21.9
Revenue recognized	$ 41.1	46.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Disaggregation Of Revenue [Line Items]
Revenue recognize percentage	50.00%
Revenue, remaining performance obligation, satisfaction, period	12 months
Consumer services
Disaggregation Of Revenue [Line Items]
Deferred revenue for customer services	$ 52.3	48.6	51.3
Research services
Disaggregation Of Revenue [Line Items]
Deferred revenue for customer services	22.5	14.0	$ 11.6
Revenue recognized	13.8	9.7
Remaining performance obligations	27.5
Research services \| Related Party
Disaggregation Of Revenue [Line Items]
Deferred revenue for customer services	21.0	11.8
Revenue recognized	$ 11.8	$ 9.2

Income Taxes - Schedule of Reconciliation of Income Tax (Benefit) (Details)	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Statutory federal tax expense rate	21.00%	21.00%	21.00%
Non-deductible stock-based compensation	(3.00%)	(4.00%)	(3.00%)
Fair Market Value adjustment on Warrants	0.00%	0.00%	3.00%
Change in valuation allowance related to acquisition	0.00%	0.00%	2.00%
Goodwill impairment	(11.00%)	0.00%	0.00%
Change in valuation allowance	(6.00%)	(16.00%)	(20.00%)
Other	(1.00%)	0.00%	(2.00%)
Effective tax rate	0.00%	1.00%	2.00%

Stockholders' Equity (Tables)

12 Months Ended

Mar. 31, 2024

Equity [Abstract]

Schedule of Common Stock Reserved for Issuance

The Company has the following shares of Class A common stock reserved for future issuance, on an as-if-converted basis:


	March 31, 2024	March 31, 2023
Outstanding stock options	70,739,770	68,050,752
Outstanding restricted stock units	44,056,670	26,562,566
Remaining shares available for future issuance under Amended and Restated 2021 Incentive Equity Plan	111,276,882	55,922,182
Remaining shares available for future issuance under Employee Stock Purchase Plan	12,845,267	13,349,302
Total shares of common stock reserved	238,918,589	163,884,802

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Pay vs Performance Disclosure
Net loss	$ (666,704)	$ (311,656)	$ (217,490)

- Definition

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

+ References

+ Details

Commitments and Contingencies - Non-cancelable Purchase Obligations (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2025	$ 11,740
2026	3,458
2027	1,900
Total	$ 17,098

Acquisition

12 Months Ended

Mar. 31, 2024

Business Combinations [Abstract]

Acquisition

On November 1, 2021, the Company completed its acquisition (the “Lemonaid Acquisition”) of Lemonaid Health, Inc. (“Lemonaid” or “Lemonaid Health”) and acquired all of the outstanding equity of Lemonaid Health. The purchase price consideration was $424.7 million, which includes the value of 26,825,241 shares of the Company’s Class A common stock valued at $314.4 million as of the acquisition date, the fair value of the pre-acquisition service portion of stock-based awards that were vested as of the Lemonaid Acquisition of $8.4 million, and cash payment of approximately $101.9 million, of which $13.0 million was placed in escrow to cover a potential purchase price adjustment and to secure the indemnification obligations of the former equity holders of Lemonaid Health. In May 2023, $6.0 million of the escrow amount was released and the remaining escrow amount will be released during the first quarter of the fiscal year ended March 31, 2025.

The purchase price consideration excluded stock consideration of 3,747,027 shares issued by the Company to certain holders that are subject to vesting restrictions tied to continuing employment with the Company, which was recognized as selling, general, and administrative expenses post-acquisition. See Note 15, “Equity Incentive Plans and Stock-Based Compensation,” for additional details. The Company also incurred acquisition costs of $9.4 million directly related to the Lemonaid Acquisition, which were recorded within general and administrative expenses on the consolidated statements of operations and comprehensive loss.

The Company accounts for acquisitions using the acquisition method with the purchase price being allocated to tangible and identifiable intangible assets acquired and liabilities assumed based on their respective estimated fair values on the acquisition date. The following is the allocation of the consideration transferred to acquired identifiable assets and assumed liabilities, net of cash acquired, in the Lemonaid Acquisition as of the acquisition date:


	Amount
	(in thousands)
Cash	$	7,711
Prepaid expenses and other current assets	3,388
Property and equipment, net	1,019
Intangible Assets:
Customer relationships	14,900
Partnerships	23,200
Trademark	11,000
Developed technology	24,100
Non-compete agreements	2,800
Operating lease right-of-use asset	848
Other assumed assets	407
Accounts payable	(3,106)
Accrued liabilities	(4,218)
Operating lease liability	(971)
Deferred tax liability	(6,645)
Other assumed liabilities	(1,311)
Total acquired identifiable assets and liabilities	73,122
Goodwill	351,598
Total consideration transferred	$	424,720

Identifiable assets and liabilities acquired or assumed are measured separately at their fair values as of the acquisition date. The fair value measurements of the identified intangible assets were based primarily on significant unobservable inputs and thus represent a Level 3 measurement as defined in ASC Topic 820, Fair Value Measurement ("ASC 820"). The fair values of the trade name and the developed technology were determined using the relief-from-royalty method under the income approach. This involves forecasting avoided royalties, reducing them by taxes, and discounting the resulting net cash flows to a present value using an appropriate discount rate. Judgment was applied for a number of assumptions in valuing the identified intangible assets, including revenue and cash flow forecasts, survival rates, technology life, royalty rate, obsolescence and discount rate. The fair value of customer relationships was determined using

the replacement cost approach. This approach consists of developing an estimate of the current cost of a similar new asset having the nearest equivalent utility to the asset or group of assets being valued and involves the estimation of all the costs incurred and accumulated in the development effort and application of any related obsolescence factors. The fair value of partnerships was determined using the multi-period excess earnings method. This involves forecasting the net earnings expected to be generated by the asset, reducing them by appropriate returns on contributory assets, and then discounting the resulting net cash flows to a present value using an appropriate discount rate. The fair value of the non-compete agreements was determined using the with and without method, a variation of the income approach. The with and without method is based on the difference between cash flows for two different scenarios. For the first scenario, the prospective cash flows for the business are projected assuming the non-compete agreements are in place, and for the second scenario, the prospective cash flows for the business are estimated assuming that the non-compete agreements are not in place.

Amortization expense related to identified intangible assets is recognized on a straight-line basis over the assets’ useful lives of two to seven years. Amortization expense is recognized within cost of revenue for developed technology, sales and marketing expense for customer relationships, partnerships and trademark, and general and administrative expense for non-compete agreements, in the consolidated statements of operations and comprehensive loss. Amortization related to Lemonaid Acquisition intangible assets for years ended March 31, 2024, 2023, and 2022 was $11.4 million, $16.5 million, and $7.3 million, respectively. See Note 10, “Balance Sheet Components — Intangible Assets” for additional information regarding the impairment of intangible assets.

The excess of the consideration paid over the fair value of the net assets acquired was recorded as goodwill. The acquired goodwill of $351.7 million is assigned to the Consumer and Research Services segment and represented future economic benefits expected to arise from synergies from combining operations and commercial organizations to increase market presence and the extension of existing customer relationships. For results of the Company's goodwill impairment analysis performed during the fiscal year ended March 31, 2024, see Note 10, “Balance Sheet Components — Goodwill.” The goodwill recognized upon acquisition is not expected to be deductible for income tax purposes.

As a result of the acquisition and due to basis differences created from the accounting for the combination, the Company acquired a net deferred tax liability of $6.6 million. The Company’s deferred tax liabilities were partially offset with its deferred tax assets causing a release of the Company’s income tax valuation allowance. The release resulted in an income tax benefit of $3.5 million for the fiscal year ended March 31, 2022. The Company had a remaining foreign deferred tax liability of $3.1 million as of March 31, 2022, which was reversed in the fiscal year ended March 31, 2023 due to impairment charges related to an acquired intangible asset.

From the closing of the Lemonaid Acquisition date through March 31, 2022, the Company recognized revenue of $19.2 million and net loss of $22.3 million related to Lemonaid Health. The pro forma financial information in the table below summarizes the combined results of operations for the Company and Lemonaid Health as if the companies had been combined as of April 1, 2020. The pro forma revenue and net loss is presented for informational purposes only and does not purport to be indicative of the results of future operations or the results that would have occurred had the transaction taken place on April 1, 2020.


	Year Ended March 31,
	2022
	(in thousands)
Pro forma revenue(1)	$	295,025
Pro forma net loss(1)	$	(241,382)

(1)As if the Lemonaid Acquisition was consummated on April 1, 2020.

The pro forma financial information includes pro forma adjustments related to the valuation and allocation of the purchase price, primarily amortization of acquired intangible assets, additional stock-based compensation expense related to accelerated vesting of options in connection with the acquisition, additional stock-based compensation expense related to replacement awards issued in connection with the acquisition, amortization of representation and warranty insurance procured in connection with the acquisition, and direct transaction costs reflected in the historical financial statements.

Consolidated Statements of Operations and Comprehensive Loss (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Revenue	$ 219,638	$ 299,489	$ 271,893
Cost of revenue	120,261	164,993	138,948
Research and development expense	205,361	222,596	189,377
Service
Revenue	191,816	265,840	257,749
Cost of revenue	108,116	150,595	135,027
Related Party
Revenue	12,004	47,448	46,064
Cost of revenue	295	530	299
Research and development expense	$ 12,771	$ 10,709	$ 23,954

- Definition

The aggregate cost of goods produced and sold and services rendered during the reporting period.

+ References

+ Details

- 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
-Topic 924
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Disposition of Subsidiary (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Loss on disposition and transaction-related costs	$ 2,375	$ 0	$ 0
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]	General and administrative
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Lemonaid Health Limited
Loss on disposition and transaction-related costs	$ 2,400

Net Loss per Share Attributable to Common Stockholders - Common Stock Equivalents Excluded from Calculation of Diluted Net Loss Per Share (Details) - Common Stock Class A - shares	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share Basic [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share (n shares)	130,474,347	108,587,430	90,038,538
ESPP
Earnings Per Share Basic [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share (n shares)	2,561,500	2,937,194	2,239,756
Outstanding stock options
Earnings Per Share Basic [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share (n shares)	70,739,770	68,050,752	73,609,565
Unvested restricted stock units
Earnings Per Share Basic [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share (n shares)	44,056,670	26,562,566	10,676,378
Shares subject to vesting
Earnings Per Share Basic [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share (n shares)	0	2,576,082	3,512,839
2022 AIP RSUs
Earnings Per Share Basic [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share (n shares)	13,116,407	8,460,836	0

Revenue - Summary of Revenue by Region based on the Shipping Address of Customers (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Disaggregation Of Revenue [Line Items]
Revenue	$ 219,638	$ 299,489	$ 271,893
Revenue \| Geographic Concentration Risk
Disaggregation Of Revenue [Line Items]
Concentration risk, percentage	100.00%	100.00%	100.00%
United States
Disaggregation Of Revenue [Line Items]
Revenue	$ 180,153	$ 217,242	$ 192,438
United States \| Revenue \| Geographic Concentration Risk
Disaggregation Of Revenue [Line Items]
Concentration risk, percentage	82.00%	73.00%	71.00%
UK
Disaggregation Of Revenue [Line Items]
Revenue	$ 24,280	$ 63,023	$ 58,477
UK \| Revenue \| Geographic Concentration Risk
Disaggregation Of Revenue [Line Items]
Concentration risk, percentage	11.00%	21.00%	22.00%
Canada
Disaggregation Of Revenue [Line Items]
Revenue	$ 10,565	$ 13,581	$ 14,293
Canada \| Revenue \| Geographic Concentration Risk
Disaggregation Of Revenue [Line Items]
Concentration risk, percentage	5.00%	4.00%	5.00%
Other regions
Disaggregation Of Revenue [Line Items]
Revenue	$ 4,640	$ 5,643	$ 6,685
Other regions \| Revenue \| Geographic Concentration Risk
Disaggregation Of Revenue [Line Items]
Concentration risk, percentage	2.00%	2.00%	2.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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- Definition

+ References

+ Details

Revenue

12 Months Ended

Mar. 31, 2024

Disaggregation of Revenue [Abstract]

Revenue

Disaggregation of Revenue

The following table presents revenue by category:


	Year Ended March 31,
	2024				2023				2022
	Amount		% of Revenue		Amount		% of Revenue		Amount		% of Revenue
	(in thousands, except percentages)
Point in Time (1)
PGS	$	145,113	66	%	$	182,866	61	%	$	189,703	70	%
Telehealth	26,486		12	%	34,961		12	%	15,299		6	%
Consumer services	171,599		78	%	217,827		73	%	205,002		76	%
Research services	3,997		2	%	—		—	%	—		—	%

Total	$	175,596	80	%	$	217,827	73	%	$	205,002	76	%

Over Time (1)
PGS	$	22,631	10	%	$	19,548	7	%	$	12,978	5	%
Telehealth	8,081		4	%	9,761		3	%	3,908		1	%
Consumer services	30,712		14	%	29,309		10	%	16,886		6	%
Research services	13,330		6	%	52,353		17	%	50,005		18	%

Total	$	44,042	20	%	$	81,662	27	%	$	66,891	24	%

Revenue by Category (1)
PGS	$	167,744	76	%	$	202,414	68	%	$	202,681	75	%
Telehealth	34,567		16	%	44,722		15	%	19,207		7	%
Consumer services	202,311		92	%	247,136		83	%	221,888		82	%
Research services	17,327		8	%	52,353		17	%	50,005		18	%

Total	$	219,638	100	%	$	299,489	100	%	$	271,893	100	%

(1) There was no Therapeutics revenue for the fiscal years ended March 31, 2024, 2023 and 2022.

The following table summarizes revenue by region based on the shipping address of customers:


	Year Ended March 31,
	2024				2023				2022
	Amount		% of Revenue		Amount		% of Revenue		Amount		% of Revenue
	(in thousands, except percentages)
United States	$	180,153	82	%	$	217,242	73	%	$	192,438	71	%
UK	24,280		11	%	63,023		21	%	58,477		22	%
Canada	10,565		5	%	13,581		4	%	14,293		5	%
Other regions	4,640		2	%	5,643		2	%	6,685		2	%
Total	$	219,638	100	%	$	299,489	100	%	$	271,893	100	%

Breakage Revenue

The Company recognized breakage revenue from unreturned Kits of $22.1 million, $27.7 million and $21.9 million for the fiscal years ended March 31, 2024, 2023 and 2022, respectively.

Contract Balances

Accounts receivable are recorded when the right to consideration becomes unconditional. Contract assets include amounts associated with contractual rights related to consideration for performance obligations and are included in prepaid expenses and other current assets on the consolidated balance sheets. The amount of contract assets was immaterial as of March 31, 2024 and 2023.

Contract liabilities consist of deferred revenue. Revenue is deferred when the Company invoices in advance of fulfilling performance obligations under a contract. Deferred revenue primarily relates to Kits that have been shipped to consumers and non-consigned retail sites but not yet returned for processing by the consumer, as well as research services billed in advance of performance. Deferred revenue is recognized when the obligation to deliver results to the customer is satisfied and when research services are ultimately performed. Deferred revenue also consists of advance payments from members related to membership performance obligations and from customers related to extended health insight performance obligations that have not been satisfied as of the balance sheet date. Deferred revenue is recognized when the obligation to deliver membership services is satisfied.

As of March 31, 2024 and 2023, deferred revenue for consumer services was $52.3 million and $48.6 million, respectively. Of the $48.6 million and $51.3 million of deferred revenue for consumer services as of March 31, 2023 and 2022, respectively, the Company recognized $41.1 million and $46.6 million as revenue during the fiscal years ended March 31, 2024 and 2023, respectively.

As of March 31, 2024 and 2023, deferred revenue for research services was $22.5 million and $14.0 million, respectively, which included related party deferred revenue amounts of $21.0 million and $11.8 million, respectively. Of the $14.0 million and $11.6 million of deferred revenue for research services as of March 31, 2023 and 2022, respectively, the Company recognized $13.8 million and $9.7 million as revenue during the fiscal years ended March 31, 2024 and 2023, respectively, which included related party revenue amounts of $11.8 million and $9.2 million, respectively.

Remaining Performance Obligations

The transaction price allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue and amounts that are expected to be billed and recognized as revenue in future periods. The Company has utilized the practical expedient available under ASC 606 to not disclose the value of unsatisfied performance obligations for PGS and telehealth as those contracts have an expected length of one year or less. As of March 31, 2024, the aggregate amount of the transaction price allocated to remaining performance obligations for research services was $27.5 million. The Company expects to recognize revenue on approximately 50% of this amount over the next 12 months and the remainder thereafter. Other than the fiscal 2022 change in percent complete adjustment noted in Note 2, “Summary of Significant Accounting Policies — Use of Estimates,” during the fiscal years ended March 31, 2024, 2023, and 2022, revenue recognized for performance obligations satisfied in prior periods was not material.

- 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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Leases - Additional Information (Details)	Mar. 31, 2024
Lessee Lease Description [Line Items]
Operating lease, option to extend	7 years
Minimum
Lessee Lease Description [Line Items]
Operating lease term	1 year 9 months 18 days
Maximum
Lessee Lease Description [Line Items]
Operating lease term	7 years 3 months 18 days

Leases - Components of Lease Costs and Other Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Operating lease cost	$ 13,487	$ 13,650	$ 13,640
Variable lease cost	4,403	5,422	6,425
Total lease cost	17,890	19,072	20,065
Cash paid for amounts included in the measurement of operating lease liabilities, net	(15,011)	(14,941)	(13,490)
ROU assets obtained in exchange for new operating lease obligations	$ 0	$ 7,930	$ 0
Weighted average remaining lease term (years)	6 years 7 months 6 days	7 years 6 months	8 years 4 months 24 days
Weighted average discount rate	8.00%	8.00%	7.00%

Segment Information - Schedule of Customer Accounting of Segment Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Recognized revenue	$ 219,638	$ 299,489	$ 271,893
Customer C \| Consumer and Research Services \| Revenue \| Customer Concentration Risk
Segment Reporting Information [Line Items]
Recognized revenue	$ 48,325	$ 65,721	$ 53,875
Concentration risk, percentage	22.00%	22.00%	20.00%
Customer B \| Consumer and Research Services \| Revenue \| Customer Concentration Risk
Segment Reporting Information [Line Items]
Recognized revenue	$ 11,753	$ 47,448	$ 46,064
Concentration risk, percentage	5.00%	16.00%	17.00%

- Definition

+ References

+ Details

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Mar. 31, 2024

Accounting Policies [Abstract]

Basis of Presentation and Principle of Consolidation

The Company’s consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of the Company and its wholly owned subsidiaries, and variable interest entities in which it holds a controlling financial interest. All intercompany accounts and transactions have been eliminated in consolidation.

For the fiscal years ended March 31, 2024, 2023 and 2022, the Company’s operations were primarily in the United States. For the fiscal years ended March 31, 2024, 2023 and 2022, the Company had immaterial operations in the United Kingdom (“U.K.”) prior to the disposition of its U.K. subsidiary on August 1, 2023.

Reclassification

Beginning in fiscal year 2024, the amounts previously presented as revenue and cost of revenue in the consolidated statements of operations and comprehensive loss have been updated to present tangible product and services separately. Prior periods have been reclassified to conform to the current period presentation. The reclassification did not have any impact on total revenue, total cost of revenue, gross profit or net income.

Fiscal Year

The Company’s fiscal year ends on March 31. References to fiscal year 2024, 2023 and 2022 refer to the fiscal years ended March 31, 2024, 2023 and 2022, respectively.

Use of Estimates

The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period and the accompanying notes. Significant items subject to such estimates and assumptions include, but are not limited to the determination of standalone selling price for various performance obligations; the estimated expected benefit period for the rate and recognition pattern of breakage revenue for purchases where a saliva collection kit (“Kit”) is never returned for processing; the capitalization and estimated useful life of internal use software; the useful life of long-lived assets; fair value of intangible assets acquired in business combinations; the fair value of reporting units relative to the carrying amount of goodwill; the incremental borrowing rate for operating leases; the fair value of private warrants; stock-based compensation including the determination of the fair value of stock options, annual incentive bonuses payable in the form of restricted stock units (“RSUs”), as well as the fair value of the Company’s common stock prior to the Closing Date of the Merger; the assumptions used in going concern assessments; and the valuation of deferred tax assets and uncertain tax positions. The Company bases these estimates on historical and anticipated results, trends, and various other assumptions that it believes are reasonable under the circumstances, including assumptions as to future events. Actual results could differ from these estimates, and such differences could be material to the consolidated financial statements.

During the fiscal year ended March 31, 2022, the Company recorded an adjustment to revenue related to a change in estimate in connection with the collaboration agreement with GlaxoSmithKline plc (“GSK”). The change in estimate was driven by a change in the total project resources resulting in a reduction in the total estimated project hours, which impacted the measurement of progress of the arrangement using the input method. The adjustment increased revenue by $9.0 million, decreased net loss by $9.0 million and decreased the Company’s basic and diluted net loss per share by $0.02 for the fiscal year ended March 31, 2022.

The Company is not aware of any specific event or circumstance that would require revisions to estimates, updates to judgments, or adjustments to the carrying value of assets or liabilities. These estimates may change, as new events occur and additional information is obtained, and will be recognized in the consolidated financial statements as soon as they become known.

Concentration of Supplier Risk

Certain of the raw materials, components and equipment associated with the deoxyribonucleic acid (“DNA”) microarrays and Kits used by the Company in the delivery of its services are available only from third-party suppliers. The Company also relies on a third-party laboratory service for the processing of its customer samples. Shortages and slowdowns could occur in these essential materials, components, equipment, and laboratory services due to an interruption of supply or increased demand in the industry. If the Company were unable to procure certain materials, components, equipment, or laboratory services at acceptable prices, it would be required to reduce its laboratory operations, which could have a material adverse effect on its results of operations.

A single supplier accounted for 100% of the Company’s total purchases of microarrays and one separate single supplier accounted for 100% of the Company’s total purchases of Kits for the fiscal years ended March 31, 2024, 2023 and 2022. One laboratory service provider accounted for 100% of the Company’s processing of customer samples for the fiscal years ended March 31, 2024, 2023 and 2022.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to a concentration of credit risk include cash, cash equivalents and accounts receivable. The Company maintains a majority of its cash and cash equivalents with a single high-quality financial institution, the composition and maturities of which are regularly monitored by the Company. The Company’s revenue and accounts receivable are derived primarily from the United States. See Note 5, “Revenue,” for additional information regarding geographical disaggregation of revenue. The Company grants credit to its customers in the normal course of business, performs credit evaluations of its significant customers on an as-needed basis, and does not require collateral. Concentrations of credit risk are limited as the Company’s trade receivables are primarily related to third

parties, which collect its credit card receivables, and large multinational corporations. The Company regularly monitors the aging of accounts receivable balances.

Cash, Cash Equivalents and Restricted Cash

Cash consists of bank deposits held at financial institutions. Cash in U.S. banks is insured to the extent defined by the Federal Deposit Insurance Corporation. Cash equivalents consist primarily of short-term money market funds. The Company maintains certain cash amounts restricted as to its withdrawal or use. The Company held total restricted cash of $8.4 million as of March 31, 2024 and 2023, which are related to letters of credit in connection with operating lease agreements, as well as collateral held against the Company’s corporate credit cards.

Cash, Cash Equivalents and Restricted Cash

Fair Value Measurements

Fair value is defined as the exchange price that would be received from the sale of an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company measures financial assets and liabilities at fair value at each reporting period using a fair value hierarchy, which requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s classification within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

Three levels of inputs may be used to measure fair value:

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

Level 2 – Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the 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.

Accounts Receivable, Net

Accounts receivable is recorded at the invoiced amount, net of estimated reserves for customer refunds, sales incentives, and bad debt, and is not interest-bearing. Accounts receivable represent amounts billed to the customers for bulk order and retail sales, and amounts billed under research services arrangements. Receivables are stated at amounts estimated by management to be equal to their net realizable values. The allowance for doubtful accounts is the Company’s best estimate of the amount of expected credit losses on its accounts receivable. The Company’s expectation of collectability is based on the financial condition of the customer and the amount of any receivables in dispute. If events or changes in circumstances indicate that specific receivable balances may be impaired, further consideration is given to the

collectability of those balances and an allowance is recorded accordingly. The reserves for customer refunds, sales incentives and bad debt were immaterial for all periods presented.

Inventories

Inventories consist primarily of raw material of Kits and DNA microarrays and are stated at the lower of cost or net realizable value. Kits are shipped to and stored at third-party warehouses and retail consignment sites. DNA microarrays are shipped and stored at third-party laboratories. All inventories are expected to be delivered to the Company’s customers within a normal operating cycle for the Company, which is 12 months. Accordingly, all the Company’s Kits and DNA microarrays are classified as current assets in the consolidated balance sheets. Cost is determined using standard cost, which approximates the average cost of the inventory items, including shipping and taxes. The Company has determined that all of its inventories would be sold above cost, and that no reserve for lower of cost or net realizable value is required for the Company’s inventories as of March 31, 2024 and 2023.

Deferred Cost of Revenue

Deferred cost of revenue consists primarily of the purchase costs and shipping and fulfillment costs of Kits that have been shipped to consumers and non-consigned retail sites. Deferred cost of revenue is recognized as cost of revenue when the performance obligation to which it relates is fulfilled, which is when the Kit is processed and initial results are made available to the customer, and the respective deferred revenue is recognized.

Property and Equipment, Net

Property and equipment are stated at cost net of accumulated depreciation and amortization. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. Expenditures for maintenance and repairs are expensed as incurred. When property and equipment are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the consolidated balance sheets, and any resulting gain or loss is reflected in consolidated statements of operations and comprehensive loss in the period realized.

The estimated useful lives of the Company’s property and equipment are as follows:


Computer equipment 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

Internal-Use Software

The Company capitalizes certain costs related to the development of its customer platform and other internal-use software, primarily consisting of employee-related costs. Costs incurred during the application development phase are capitalized only when the Company believes it is probable the development will result in new or additional functionality. Costs incurred during the preliminary planning and evaluation stage of the project and during the post-implementation operational stage are expensed as incurred. Internal-use software is amortized using the straight-line method over the estimated useful life, which is generally two to four years.

Goodwill and Intangible Assets

Goodwill represents the excess purchase price of acquired businesses over the fair values attributed to underlying net tangible assets and identifiable intangible assets. The Company tests goodwill each fiscal year on January 1st for impairment at the Consumer and Research Services reporting unit level. Goodwill is also tested for impairment whenever an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Performance of the qualitative impairment assessment requires judgment in identifying and considering the significance of relevant events and circumstances, including external factors such as macroeconomic and industry conditions and the legal and regulatory environment, as well as entity-specific factors, such as actual and planned financial performance or sustained market declines, that could impact the fair value of the Consumer and Research Services reporting unit. If, after assessing the totality of these qualitative factors, the Company determines that it is not more likely than not that the fair value of the reporting unit is less than its carrying amount, then no additional assessment is deemed necessary. Otherwise, the Company will perform a quantitative impairment test in which the fair value of the reporting unit is compared with its carrying amount, and an impairment charge will be recorded for the amount by which the carrying

amount exceeds the reporting unit’s fair value, if any. For results of the Company’s goodwill impairment analysis performed during the fiscal year ended March 31, 2024, see Note 10, “Balance Sheet Components — Goodwill.”

Acquired intangible assets consist of identifiable intangible assets resulting from business combinations. Acquired finite-lived intangible assets are initially recorded at fair value and are amortized on a straight-line basis over their estimated useful lives. Amortization expense is recognized within cost of revenue for developed technology, sales and marketing expense for customer relationships, partnerships, and trademark, and general and administrative expense for non-compete agreements, in the consolidated statements of operations and comprehensive loss. Other intangible assets consist of purchased patents.

Intangible assets are carried at cost less accumulated amortization and are amortized over the period of estimated benefit using the straight-line method and their estimated useful lives. Amortization for patents is recognized in research and development and general and administrative expenses in the consolidated statements of operations and comprehensive loss.

Impairment of Long-Lived Assets

The Company evaluates long-lived assets, such as property and equipment, internal-use software, acquired intangible assets, and right of use assets related to operating leases for impairment whenever events or changes in circumstances indicate that the carrying value of long-lived assets may not be recoverable. The recoverability of these assets is measured by comparing the carrying amounts to the future undiscounted cash flows these assets are expected to generate. If the undiscounted cash flows are less than the asset group’s carrying amount, the Company then determines the asset group’s fair value by using a discounted cash flow analysis. If the recoverability test indicates the carrying value of the asset group is not recoverable, the Company would estimate the fair value of the asset group using the discounted cash flow method. An impairment would be recognized in the event the carrying amount of such assets exceeds the fair value attributable to such assets. The useful lives of long-lived assets are evaluated whenever events or circumstances warrant a revision to the remaining amortization period.

Leases

The Company determines if an arrangement is or contains a lease at inception. The Company evaluates classification of leases as either operating or finance at commencement and, as necessary, at modification. Operating leases are included in operating lease right-of-use (“ROU”) assets, other accrued liabilities, and operating lease liabilities on the Company’s consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments under the lease. Operating lease ROU assets and liabilities are recognized on the commencement date based on the present value of lease payments over the lease term. As the Company’s leases generally do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The operating lease ROU asset also includes initial direct costs incurred and lease payments made prior to lease commencement less lease incentives received. Variable lease payments not dependent on an index or a rate are expensed as incurred and are not included within the ROU asset and lease liability calculation. Variable lease payments primarily include property taxes and costs incurred by lessors for common area maintenance. The Company’s lease terms are the non-cancelable period stated in the contract, including any rent-free periods provided by the lessor, adjusted for any options to extend or terminate when it is reasonably certain that the Company will exercise that option. The Company accounts for lease and non-lease components in its lease agreements as a single lease component in determining lease assets and liabilities. In addition, the Company does not recognize the right-of-use assets and liabilities for leases with lease terms of twelve months or less.

Revenue Recognition

The Company generates revenue primarily from its Consumer & Research Services segment, which includes revenue from its Personal Genome Service® (“PGS”), telehealth, and research services. In accordance with Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”), the Company recognizes revenue when its customer obtains control of promised goods or services in an amount that reflects the consideration that the Company expects to receive in exchange for transferring the products or services to a customer (the “transaction price”). The transaction price includes various forms of variable consideration, as discussed below. In general, the transaction price is evaluated at contract inception.

For contracts with multiple performance obligations, the transaction price is allocated to each performance obligation on a relative stand-alone selling price (“SSP”) price basis. The SSP is determined at contract inception and is not updated to reflect changes between contract inception and when the performance obligations are satisfied. Determining the

SSP for performance obligations requires significant judgment. The SSP for each performance obligation is based on the prices at which the Company separately sells the products and services. If an observable price from stand-alone sales is not available, the Company uses the adjusted market assessment approach, using reasonably available information and applicable inputs, to estimate the selling price of each performance obligation.

PGS

The Company generates PGS revenue by providing customers with a broad suite of genetic reports, including information on customers’ genetic ancestral origins, personal genetic health risks, and chances of passing on certain rare carrier conditions to their children, as well as reports on how genetics can impact responses to medication.

The Company’s contracts with customers for PGS services include multiple performance obligations: (1) initial ancestry reports, (2) ancestry updates, (3) initial health reports, (4) health updates, and (5) membership for extended health insights with access to exclusive reports and features. The transaction price for PGS revenue includes the amount of fixed consideration the Company expects to receive, as well as variable consideration related to refunds.

The Company bases its estimates of variable consideration related to refunds on historical data and other information. Estimates include: (i) timing of the returns and fees incurred, (ii) pricing adjustments related to returns and fees, and (iii) the quantity of product that will be returned in the future. Significant judgment is used in determining the appropriateness of these assumptions at each reporting period. Provisions for returns are based on service-level return rates and recent unprocessed return claims, as well as relevant market events and other factors.

The Company estimates the amount of sales that may be refunded and records the estimate as a reduction of revenue and a refund liability in the period the related PGS revenue is recognized. Based on the distribution model for PGS services and the nature of the services being provided, the Company believes there will be minimal refunds and has not experienced material historical refunds.

Revenue is recognized at a point in time upon delivery of the initial ancestry reports and initial health reports to the customer, as the customer obtains control when the report is received.

Revenue is recognized over time for ancestry updates and health updates over the period the customer is estimated to remain active. The Company estimates this period based on the historical average period that the customer continues to engage with the available report updates after the delivery of the initial reports. These updates are provided to the customer, when and if available, throughout the estimated period of activity during which the customer interacts with the PGS service. The Company re-evaluates these estimates annually and adjusts accordingly. The Company has determined that access to the updates, when and if available, that are provided over the estimated period qualifies as a series of distinct goods or services, for which revenue is recognized ratably over the period estimated by the Company.

PGS membership revenue for extended health insights is recognized ratably over the contractual membership period as the customer benefits from having access to these insights evenly throughout this period.

The Company sells through multiple channels, including direct to consumer via the Company’s website and through online retailers. If the customer does not return the Kit for processing, services cannot be completed by the Company, potentially resulting in unexercised rights (“breakage”) revenue. To estimate breakage, the Company applies the practical expedient available under ASC 606 to assess its customer contracts on a portfolio basis as opposed to individual customer contracts, due to the similarity of customer characteristics, at the sales channel level. The Company recognizes the breakage amounts as revenue, proportionate to the pattern of revenue recognition of the returning Kits in these respective sales channel portfolios. The Company estimates breakage for the portion of Kits not expected to be returned using an analysis of historical data and considers other factors that could influence customer Kit return behavior. The Company updates its breakage rate estimate periodically and, if necessary, adjusts the deferred revenue balance accordingly. If actual Kit return patterns vary from the estimate, actual breakage revenue may differ from the amounts recorded.

Fees paid to certain sales channel partners include, in part, compensation for obtaining PGS contracts. Such contracts have an amortization period of one year or less, and the Company has applied the practical expedient to recognize these costs as sales and marketing expenses when incurred.

Research Services

The Company generates research services revenue by performing research services under agreements with third parties relating to the use of the Company’s genotypic and phenotypic data to perform various research activities, including identifying promising drug targets and further researching specific ailments or patient treatment areas.

The Company’s contracts with customers for research services can include multiple performance obligations: (1) genotyping, (2) survey, (3) data analysis, (4) recruitment, (5) web development, (6) project management, and (7) dedicated research time. The transaction price for research services revenue includes the amount of fixed consideration the Company expects to receive, as well as variable consideration including, but not limited to, per participant fees, additional compensation for certain industry approvals, payments for milestones achieved early, and penalties for customer delays. The Company estimates the amount of variable consideration that should be included in the transaction price using either the most likely amount method or the expected amount method.

The Company bases its estimates of variable consideration on historical data and other available information. The Company includes an estimated amount of variable consideration in the transaction price only if it is probable that a subsequent change in the estimate would not result in a significant revenue reversal. Based on the historical data available, the Company believes that there will be minimal amounts of variable consideration earned and, as such, the transaction price for research services is not materially impacted. Variable consideration estimates are revisited at the end of each reporting period and adjustments are made accordingly.

For the majority of research services, to recognize revenue, the Company compares actual hours incurred to date to the overall total expected hours that will be required to satisfy the performance obligation. The use of personnel hours is a reasonable measure of progress as the Company fulfills its contractual obligations through research performed by the Company’s personnel. Revenues are recognized over time as the hours are incurred. All estimates are reviewed by the Company at the end of each reporting period and adjustments are made accordingly.

Telehealth

The Company generates telehealth revenues from pharmacy fees, patient fees, and membership fees. The transaction price for telehealth services includes the amount of fixed consideration the Company expects to receive, as well as variable consideration related to sales deductions, including (1) product returns, including return estimates and (2) fees for transaction processing and chargebacks. The Company estimates the amount of variable consideration that should be included in the transaction price using the expected value method.

The Company estimates the amount of sales that may be refunded and records the estimate as a reduction of revenue and a refund liability in the period the related telehealth revenue is recognized. The Company’s customers have limited return rights related to the telehealth services. The Company has not historically experienced material returns and believes that there will be minimal returns in the future. As such, the transaction price for telehealth services is not materially impacted.

Provisions for transaction fees and chargebacks are primarily based on customer-level contractual terms. Accruals and related reserves are adjusted as new information becomes available, which generally consists of actual transaction fees and chargebacks processed relating to sales recognized.

Pharmacy fees, net – The Company primarily generates revenue through sale and delivery of prescription medications from the Affiliated Pharmacies (as defined below). A contract is entered into with a patient when the patient accepts the Company’s terms and conditions, requests a prescription, or chooses to refill, and provides access to payment. The Company has determined that these contracts contain one performance obligation. Revenue is recognized at the point in time in which prescription services are rendered for these transactions. Fees are charged as prescription services are rendered. Revenue is recorded net of refunds.

Patient fees, net – The Company primarily generates revenue through the PMCs (as defined below) from patient visit fees, which include healthcare professional consultations, lab testing, and ordering prescriptions. A contract is entered into with a patient when the patient accepts the Company’s terms and conditions and provides access to payment. The Company has determined that each service event is a distinct performance obligation. Revenue is recognized at the point in time in which services are rendered for these transactions. Fees are charged upfront prior to services being rendered and are allocated to each obligation to provide services to the patient. Revenue is recorded net of refunds and pass-through lab and prescription costs.

Membership fees, net – The Company generates revenue through membership fees from patients, which includes a membership for unlimited medical visits and unlimited prescriptions during the membership period (generally one, three or twelve months). A contract is entered into with a patient when the patient accepts the Company’s terms and conditions and makes a pre-payment for the membership term. The Company has determined that access to the services over the membership period qualifies as a series of distinct goods or services for which revenue is recognized ratably over the respective membership period. Revenue is recorded net of refunds. Deferred revenue consists of advance payments from members related to membership performance obligations that have not been satisfied for memberships.

In providing telehealth services that include professional medical consultations, the Company maintains relationships with various affiliated professional medical corporations (“PMCs”). PMCs are organized under state law as professional entities that are owned by physicians licensed in the applicable state and that engage licensed healthcare professionals (each, a “Provider” and collectively, the “Providers”) to provide consultation services. See Note 8, “Variable Interest Entities,” for additional details. The Company accounts for service revenue as a principal in the arrangement with its patients.

Additionally, with respect to its telehealth services involving the sale of prescription products, the Company maintains relationships with affiliated pharmacies (collectively, the “Affiliated Pharmacies”) to fill prescriptions that are ordered by the Company’s patients. The Company accounts for prescription product revenue as a principal in the arrangement with its patients.

Collaborations

From time to time the Company enters into collaboration arrangements in which both parties are active participants in the arrangement and are exposed to the significant risks and rewards of the collaboration, in which case the collaboration is within the scope of ASC Topic 808, Collaborative Arrangements. Within such collaborations, the Company determines if any obligations are an output of the Company’s ordinary activities in exchange for consideration, and if so, the Company applies ASC 606 to such activities.

For other payments received from the other party for other collaboration activities related to various development, launch and sales milestones of licensed products, or royalties related to net sales of licensed products, the Company analogizes to ASC 606. Such payments will be recognized when the related activities occur as they are determined to relate predominantly to the license of intellectual property transferred to the other party and therefore have also been excluded from the transaction price allocated to the performance obligations determined under ASC 606. To date, no consideration in this regard has been received under the Company’s collaboration agreements.

Cost of Revenue

Cost of revenue for PGS primarily consists of cost of raw materials, lab processing fees, personnel-related expenses, including salaries and benefits and stock-based compensation, shipping and handling, and allocated overhead. Shipping costs for the Kits are incurred prior to fulfillment of consumer services obligations and the corresponding shipping and handling expense is reported in cost of revenue.

Cost of revenue for research services primarily consists of personnel-related expenses, including salaries, benefits and stock-based compensation, and allocated overhead.

Research and Development

Research and development costs primarily consist of personnel-related expenses, including salaries, benefits and stock-based compensation, associated with the Company’s research and development personnel, collaboration expenses, laboratory services and supplies costs, third-party data services, and allocated overhead. Research and development costs are expensed as incurred.

Advertising Costs

Advertising costs consist primarily of direct expenses related to television and radio advertising, including production and branding, paid search, online display advertising, direct mail, and affiliate programs. Advertising production costs are expensed the first time the advertising takes place, and all other advertising costs are expensed as incurred. Advertising costs amounted to $37.5 million, $49.1 million and $54.7 million for the years ended March 31, 2024, 2023 and 2022, respectively, and are included in sales and marketing expense in the consolidated statements of operations and comprehensive loss.

Deferred advertising costs primarily consist of vendor payments made in advance to secure media spots across varying media channels, as well as production costs incurred before the first time the advertising takes place. Deferred advertising costs are not expensed until first used. The deferred advertising costs were $0.4 million and $1.6 million as of March 31, 2024 and 2023, respectively. Deferred advertising costs are included in prepaid expenses and other current assets in the consolidated balance sheets.

Stock-Based Compensation

Stock-based compensation expense related to stock-based awards for employees and non-employees is recognized based on the fair value of the awards granted. The fair value of each stock option and employee stock purchase plan (“ESPP”) are estimated on the grant date using the Black-Scholes option pricing model. The Black-Scholes option pricing model requires the input of highly subjective assumptions, including the expected term of the stock-based award, the expected volatility of the price of the Company’s common stock, risk-free interest rates, and the expected dividend yield of common stock. Given the Company does not have sufficient historical exercise data as a public company, the expected term of stock options granted is estimated using the simplified method, which represents the average of the contractual term of the stock option and its weighted-average vesting period. The expected term of the ESPP rights equals the six-month and twelve-month look-back periods. Since inception, the expected volatility was based upon the historical volatility of comparable companies from a representative peer group. The Company has historically not declared or paid any dividends and does not currently expect to do in the foreseeable future. The risk-free interest rates used are based on the U.S. Department of Treasury (“U.S. Treasury”) yield in effect at the time of grant for zero-coupon U.S. Treasury notes with maturities approximately equal to the expected term. The fair value of each RSU is estimated based on the fair value of the common stock on the grant date.

Prior to the Merger, the Company determined the fair value of its common stock for financial reporting as of each grant date based on numerous objective and subjective factors and management’s judgment. Subsequent to the Merger, the Company determines the fair value using the market closing price of its common stock on the date of grant. The related stock-based compensation expense is recognized on a straight-line basis over the requisite service period of the awards, including awards with graded vesting and no additional conditions for vesting other than service conditions. The Company accounts for forfeitures as they occur. See Note 15, “Equity Incentive Plans and Stock-Based Compensation,” for additional details.

The Company’s fiscal 2024 annual incentive bonuses will be paid in the form of RSUs based upon the Company’s achievement of certain pre-established financial, operational, and strategic performance metrics. The number of the RSUs is determined by dividing the dollar amount of the incentive bonus by the trailing average closing price of the Company’s Class A common stock for a defined period of time determined by the Compensation Committee of the Board of Directors. The Company accounts for the RSUs as liability awards, and adjusts the liability and corresponding expenses at the end of each quarter until the date of settlement, considering the probability that the performance conditions will be satisfied. The liability of the awards is included in other current liabilities on the Company’s consolidated balance sheet. See Note 15, “Equity Incentive Plans and Stock-Based Compensation,” for additional details.

Income Taxes

The Company applies the provisions of ASC Topic 740, Income Taxes (“ASC 740”). Under ASC 740, the Company accounts for income taxes using the asset and liability method whereby deferred tax assets and liabilities are determined based on temporary differences between the bases used for financial reporting and income tax reporting purposes. Deferred income taxes are provided based on the enacted tax rates and laws that will be in effect at the time such temporary differences are expected to reverse. A valuation allowance is provided for deferred tax assets if it is more likely than not that the Company will not realize those tax assets through future operations.

The Company also utilizes the guidance in ASC 740 to account for uncertain tax positions. ASC 740 contains a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount which is more likely than not of being realized and effectively settled. The Company considers many factors when evaluating and estimating the Company’s tax positions and tax benefits, which may require periodic adjustments, and which may not accurately reflect actual outcomes. The Company recognizes interest and penalties on unrecognized tax benefits as a component of provision for income taxes in the consolidated statements of operations and comprehensive loss. See Note 18, “Income Taxes,” for additional details.

Business Combinations

The Company accounts for its business combinations using the acquisition method of accounting, which requires, among other things, allocation of the fair value of purchase consideration to the tangible and intangible assets acquired and liabilities assumed at their estimated fair values on the acquisition date. The excess of the fair value of purchase consideration over the values of these identifiable assets and liabilities is recorded as goodwill. The results of businesses acquired in a business combination are included in the Company’s consolidated financial statements from the date of acquisition. Acquisition costs, such as legal and consulting fees, are expensed as incurred.

Determining the fair value of assets acquired and liabilities assumed requires management to use significant judgment and estimates, including the selection of valuation methodologies, estimates of future revenue and cash flows, discount rates, and selection of comparable companies. The estimates and assumptions used to determine the fair values and useful lives of identified intangible assets could change due to numerous factors, including market conditions, technological developments, economic conditions, and competition. The Company’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. During the measurement period, not to exceed one year from the date of acquisition, the Company may record adjustments to the assets acquired and liabilities assumed, with a corresponding offset to goodwill if new information is obtained related to facts and circumstances that existed as of the acquisition date. After the measurement period, any subsequent adjustments are reflected in the consolidated statements of operations and comprehensive loss.

When the Company issues stock-based or cash awards to an acquired company’s stockholders, the Company evaluates whether the awards are consideration or compensation for post-acquisition services. The evaluation includes, among other things, whether the vesting of the awards is contingent on the continued employment of the acquired company’s stockholders beyond the acquisition date. If continued employment is required for vesting, the awards are treated as compensation for post-acquisition services and recognized as expense over the requisite service period.

Uncertain tax positions and tax-related valuation allowances are initially established in connection with a business combination as of the acquisition date. The Company continues to collect information and reevaluate these estimates and assumptions quarterly. The Company will record any adjustments to its preliminary estimates to goodwill, provided that it is within the one-year measurement period.

Variable Interest Entities

The Company evaluates its ownership, contractual, and other interests in entities to determine if it has any variable interest in a variable interest entity (“VIE”) and if it is the primary beneficiary. These evaluations are complex and involve judgment. If the Company determines that an entity in which it holds a contractual or ownership interest is a VIE and that the Company is the primary beneficiary, the Company consolidates such entity in its consolidated financial statements. The primary beneficiary of a VIE is the party that meets both of the following criteria: (i) has the power to make decisions that most significantly affect the economic performance of the VIE, and (ii) has the obligation to absorb losses or the right to receive benefits that in either case could potentially be significant to the VIE. Management performs ongoing reassessments of whether changes in the facts and circumstances regarding the Company’s involvement with a VIE will cause the consolidation conclusion to change. Changes in consolidation status are applied prospectively.

Foreign Currency

The reporting currency of the Company is the United States dollar. The Company determines the functional currency of each subsidiary based on the currency of the primary economic environment in which each subsidiary operates. Items included in the financial statements of such subsidiaries are measured using that functional currency. Prior to the disposition of its U.K. subsidiary on August 1, 2023, the functional currency of the Company’s foreign subsidiary was the British Pound. Foreign currency denominated monetary assets and liabilities are remeasured into U.S. dollars at period-end exchange rates and foreign currency denominated non-monetary assets and liabilities are remeasured into U.S. dollars at historical exchange rates. Equity transactions are translated using historical exchange rates. Revenue and expenses are translated at the average exchange rates during the period. The resulting translation adjustments are recorded in accumulated other comprehensive income as a component of stockholders’ equity (deficit). Foreign currency transaction gains and losses are recognized in other (expense) income, net in the consolidated statements of operations and comprehensive loss, and have not been material for any of the periods presented.

Comprehensive Loss

Comprehensive loss is composed of two components: net loss and other comprehensive income (loss). The Company’s changes in foreign currency translation represents the components of other comprehensive income (loss) that are excluded from the reported net loss.

Net Loss Per Share Attributable to Common Stockholders

The Company computes net loss per share using the two-class method required for participating securities. The two-class method requires income available to common stockholders for the period to be allocated between common stock and participating securities based upon their respective rights to receive dividends as if all income for the period had been distributed. The Company determined that it had participating securities in the form of redeemable convertible preferred stock prior to the date of conversion and shares subject to vesting as holders of such securities had non-forfeitable dividend rights in the event of a declaration of a dividend for shares of common stock prior to the vesting date. These participating securities do not contractually require the holders of such stocks to participate in the Company’s losses. As such, net loss for the period presented was not allocated to the Company’s participating securities.

The Company’s basic net loss per share is calculated by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding for the period, without consideration of potentially dilutive securities. The diluted net loss per share is calculated by giving effect to all potentially dilutive securities outstanding for the period using the treasury share method or the if-converted method based on the nature of such securities. Diluted net loss per share is the same as basic net loss per share in periods when the effects of potentially dilutive shares of ordinary shares are anti-dilutive. See Note 16, “Net Loss Per Share Attributable to Common Stockholders,” for additional details.

Related Parties

A party is considered to be related to the Company if the party, directly or indirectly, controls, is controlled by, or is under common control with the Company, including principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management, and other parties with which the Company may deal and can significantly influence the management or operating policies to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. See Note 20, “Related Party Transactions,” for additional details.

Restructuring

The Company defines restructuring expenses to include costs directly associated with exit or disposal activities, such as severance payments, benefits continuation, and non-cash stock-compensation charges associated with the modification of certain stock awards. In general, the Company records involuntary employee-related exit and disposal costs when it communicates to employees that they are entitled to receive such benefits and the amount can be reasonably estimated.

Contingencies

The Company is subject to certain routine legal and regulatory proceedings, as well as demands and claims that arise in the normal course of business. Certain conditions may exist as of the date the consolidated financial statements are issued, which may result in a loss to the Company, but will only be recorded when one or more future events occur or fail to occur. The Company’s management assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against and by the Company or unasserted claims that may result in such proceedings, the Company’s management evaluates the perceived merits of any legal proceedings or unasserted claims, as well as the perceived merits of the amount of relief sought or expected to be sought.

If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s consolidated financial statements. If the assessment indicates that a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material, would be disclosed. Loss contingencies considered to be remote by management are generally not disclosed unless they involve guarantees, in which case the guarantee would be disclosed. Legal fees related to potential loss contingencies are expensed as incurred. Insurance recoveries associated with loss

contingencies are recognized when realization becomes probable and estimable, the associated costs have been recognized in the financial statements, and the losses are clearly attributable to the insured event.

Liquidity

The Company’s operations have been financed primarily through the sales of equity securities and sales of PGS, telehealth, and research services. During the fiscal year ended March 31, 2022, the Company received gross proceeds of $309.7 million from the Merger and $250.0 million from the PIPE investment consummated in connection with the Merger. The Company expects to continue to incur operating losses and negative cash flows from operations for the foreseeable future due to the investments it intends to continue to make in research and development to capitalize on market opportunities and drive long-term growth, as well as operating expenses incurred within general and administrative, and sales and marketing.

The Company will require additional financing to execute ongoing and future operations. The Company’s ability to obtain additional financing depends on a number of factors, including, but not limited to, the market price of the Company’s Class A common stock, the availability and cost of additional equity capital, the Company’s ability to retain the listing of its Class A common stock on The Nasdaq Stock Market, and the general economic and industry conditions affecting the availability and cost of capital. The Company is dependent upon future financing to provide the cash necessary to execute our ongoing and future operations. Management will continue to monitor the Company’s liquidity position.

In connection with preparing consolidated financial statements for each annual and interim reporting period, the Company is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the financial statements are issued. As of March 31, 2024, the Company had cash and cash equivalents of $216.5 million. Based on current cash resources and the implementation of the previously-disclosed reductions in force in June and August 2023, the Company believes its cash and cash equivalents will be sufficient to fund estimated operating expenses and capital expenditure requirements for at least 12 months from the date of the issuance of these consolidated financial statements. Management considers that there are no conditions or events in the aggregate that raise substantial doubt about the Company’s ability to continue as a going concern for a period of at least one year from the date the consolidated financial statements are issued.

On November 10, 2023, the Company received a deficiency letter (the “Nasdaq Letter”) from the Nasdaq Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”), notifying the Company that it is not in compliance with Nasdaq Listing Rule 5450(a)(1), which requires the Company to maintain a minimum bid price of at least $1.00 per share for continued listing on The Nasdaq Global Select Market (the “Minimum Bid Requirement”). The Company’s failure to comply with the Minimum Bid Requirement was based on its Class A common stock per share price being below the $1.00 threshold for a period of 30 consecutive trading days. Pursuant to the Nasdaq Letter, the Company had an initial 180 calendar days from the date of the Nasdaq Letter to regain compliance. The Company did not regain compliance during the initial compliance period.

On May 9, 2024, the Company received a notification letter from the Staff of Nasdaq notifying the Company that it had been granted an additional 180 days, or until November 4, 2024, to regain compliance with the Minimum Bid Requirement, based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on The Nasdaq Capital Market with the exception of the bid price requirement, and the Company’s written notice of its intention to cure the deficiency during the second compliance period. In order to be eligible to receive the second compliance period, the Company applied to have its Class A common stock transferred from the Nasdaq Global Select Market to the Nasdaq Capital Market.

If at any time before November 4, 2024, the bid price of the Class A common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, the Staff will provide written confirmation that the Company has achieved compliance. If the Company does not regain compliance with the Minimum Bid Requirement by the end of the second compliance period, the Class A common stock will become subject to delisting. In the event that the Company receives notice that the Class A common stock is being delisted, the Nasdaq listing rules permit the Company to appeal a delisting determination by the Staff to a hearings panel.

The Company intends to monitor the closing bid price of its common stock between now and November 4, 2024, and will consider available options to regain compliance with the Minimum Bid Requirement, including initiating a reverse stock split. However, there can be no assurance that the Company will be able to regain compliance with the Minimum Bid Requirement or will otherwise be in compliance with other Nasdaq Listing Rules. Neither the Nasdaq Letter nor the

Company’s noncompliance with the Minimum Bid Requirement have an immediate effect on the listing or trading of the Class A common stock, which will continue to trade on The Nasdaq Stock Market under the symbol “ME.”

Recently Issued Accounting Pronouncements

In November 2023, the Financial Accounting Standard Board (“FASB”) issued Accounting Standard Updated (“ASU”) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires disclosure of incremental segment information on an annual and interim basis. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and requires retrospective application to all prior periods presented in the financial statements. Early adoption is permitted. We are currently evaluating the impacts of the new standard.

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which expands disclosures in an entity’s income tax rate reconciliation table and income taxes paid information. This ASU is effective for fiscal years beginning after December 15, 2024 and may be adopted on a prospective or retrospective basis. Early adoption is permitted. We are currently evaluating the impacts and method of adoption.

In March 2024, the FASB issued ASU No. 2024-02, Codification Improvements — Amendments to Remove References to the Concepts Statements, which amends the Codification to remove various references to various concepts statements and impacts a variety of topics in the Codification. This amendment applies to all reporting entities within the scope of the affected accounting guidance, but in most instances the references removed are extraneous and not required to understand or apply the guidance. Generally, the amendments in this ASU are not intended to result in significant accounting changes for most entities. This ASU is effective for fiscal years beginning after December 15, 2024, including interim periods with those year. This ASU is not expected to have a significant impact on the Company’s financial statements.

Stockholders' Equity - Schedule of Common Stock Reserved for Issuance (Detail) - shares	Mar. 31, 2024	Mar. 31, 2023
Class Of Stock [Line Items]
Outstanding stock options (in shares)	70,739,770	68,050,752
Total shares of common stock reserved (in shares)	238,918,589	163,884,802
2021 Equity Incentive Plan
Class Of Stock [Line Items]
Remaining shares available for future issuance under Amended and Restated 2021 Incentive Equity Plan (in shares)	111,276,882	55,922,182
Employee Stock Purchase Plan
Class Of Stock [Line Items]
Remaining shares available for future issuance under Employee Stock Purchase Plan (in shares)	12,845,267	13,349,302
Restricted Stock Units
Class Of Stock [Line Items]
Outstanding restricted stock units (in shares)	44,056,670	26,562,566

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Accounts payable	$ (996)	$ (24,573)	$ 22,856
Accrued expenses and other current liabilities	(7,104)	2,671	8,316
Deferred revenue	12,307	(418)	(8,799)
Proceeds from exercise of stock options	909	4,203	16,998
Proceeds from PIPE	0	0	250,000
Related Party
Accounts payable	623	(9,381)	8,145
Accrued expenses and other current liabilities	(1,986)	2,966	(1,293)
Deferred revenue	9,246	2,572	(20,959)
Proceeds from PIPE	$ 0	$ 0	$ 25,000

Fair Value Measurements (Tables)

12 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis

The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis as of March 31, 2024 and 2023:


	March 31, 2024								March 31, 2023
	Fair Value		Level 1		Level 2		Level 3		Fair Value		Level 1		Level 2		Level 3
	(in thousands)
Financial Assets:
Money market funds	$	211,000	$	211,000	$	—	$	—	$	372,000	$	372,000	$	—	$	—
Total financial assets	$	211,000	$	211,000	$	—	$	—	$	372,000	$	372,000	$	—	$	—

Equity Incentive Plans and Stock-Based Compensation (Tables)

12 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Summary of Stock Option Activity and Activity Regarding Shares Available for Grant

Stock option activity and activity regarding shares available for grant under the 2021 Plan are as follows:


	Options Outstanding
	Outstanding Stock Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
	(in thousands, except share, years, and per share data)
Balance as of March 31, 2023	68,050,752	$	4.20	6.0	$	10,621
Granted	13,097,016	$	1.25
Exercised	(2,082,713)	$	0.44
Canceled/forfeited/expired	(8,325,285)	$	4.94
Balance as of March 31, 2024	70,739,770	$	3.68	5.1	$	306
Vested and exercisable as of March 31, 2024	52,562,963	$	4.12	4.0	$	306

Schedule of Assumptions Used in the Black-Scholes Option-Pricing Model

The Company estimated the fair value of options granted using the Black-Scholes option-pricing model. The fair value of stock options is being amortized on a straight-line basis over the requisite service period of the awards.

The weighted average Black-Scholes assumptions used to value stock options at the grant dates are as follows:


	Year Ended March 31,
	2024				2023				2022
	Min		Max		Min		Max		Min		Max
Expected term (years)	5.8		6.0		6.0		6.8		3.3		6.1
Expected volatility range	78	%	79	%	76	%	81	%	72	%	75	%
Expected weighted-average volatility	79%				79%				74%
Risk-free interest rate	3.6	%	4.4	%	2.8	%	4.2	%	1.0	%	2.5	%
Expected dividend yield	—		—		—		—		—		—

The weighted average grant date fair value of ESPP award per share for the fiscal years ended March 31, 2024, 2023, and 2022 was $0.44, $1.35 and $1.84, respectively, using the following assumptions:


	Year Ended March 31,
	2024				2023				2022
	Min		Max		Min		Max		Min		Max
Expected term (years)	0.5		1.0		0.5		1.0		0.5		1.0
Expected volatility range	67	%	99	%	78	%	109	%	77	%	86	%
Expected weighted-average volatility	70%				96%				82%
Risk-free interest rate	4.9	%	5.5	%	3.3	%	5.2	%	0.6	%	0.9	%
Expected dividend yield	—		—		—		—		—		—

Summary of Restricted Stock Awards Activity under the Equity Incentive Plan

The following table summarizes the RSU activity under the equity incentive plans and related information:


	Unvested RSUs	Weighted-Average Grant Date Fair Value Per Share
Balance as of March 31, 2023	26,562,566	$	4.73
Granted	50,324,367	$	1.67
Vested	(21,703,098)	$	3.14
Canceled/forfeited	(11,127,165)	$	3.66
Balance as of March 31, 2024	44,056,670	$	2.29

Schedule of Share Based Compensation Costs

Total stock-based compensation expense, including stock-based compensation expense related to awards classified as liabilities, was included in costs and expenses as follows:


	Year Ended March 31,
	2024		2023		2022
	(in thousands)
Cost of revenue (1)	$	6,234	$	10,874	$	4,029
Research and development	37,765		48,837		26,540
Sales and marketing	6,567		8,635		5,122
General and administrative (2)	68,020		47,671		22,242
Restructuring and other charges	1,623		—		—
Total stock-based compensation expense	$	120,209	$	116,017	$	57,933

(1) Primarily relates to cost of service revenue. Stock-based compensation expense related to cost of product was immaterial for the fiscal years ended March 31, 2024, 2023, and 2022.

(2) Includes $32.8 million of stock-based compensation charges related to the termination of two Former Lemonaid Officers during the fiscal year ended March 31, 2024.

Equity Incentive Plans and Stock-Based Compensation

12 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Equity Incentive Plans and Stock-Based Compensation

Incentive Equity Plans

In 2006, 23andMe, Inc. established its 2006 Equity Incentive Plan, as amended (the “2006 Plan”), which provided for the grant of stock options and restricted stock to its employees, directors, officers, and consultants. The 2006 Plan allowed for time-based or performance-based vesting for the awards. The 2006 Plan was amended and restated at various times since its adoption.

On June 10, 2021, the shareholders of VGAC approved the 23andMe Holding Co. 2021 Incentive Equity Plan (the “2021 Plan”) and reserved 136,000,000 authorized shares of the Company’s Class A common stock for issuance thereunder. In addition, all equity awards of 23andMe, Inc. that were issued under the 2006 Plan were converted into comparable equity awards that are settled or exercisable for shares of the Company’s Class A common stock. As a result, each 23andMe, Inc. stock option was converted into an option to purchase shares of the Company’s Class A common stock based on an exchange ratio of 2.293698169. As of the effective date of the 2021 Plan, no further stock awards have been or will be granted under the 2006 Plan.

On September 6, 2023 (the “Effective Date”), the Company’s stockholders approved the 23andMe Holding Co. Amended and Restated 2021 Incentive Equity Plan (the “A&R Plan”). The terms of the A&R Plan replace the existing terms of the 2021 Plan. The A&R Plan was adopted to, among other things, (i) increase the number of shares authorized for issuance by 75,000,000 shares of Class A common stock of the Company, (ii) increase the percentage of shares that may automatically be added on an annual basis to the number of authorized shares from 3% to 5%, (iii) increase the individual annual compensation limit for non-employee directors from $300,000 to $400,000 and to provide that the limit applies on a fiscal-year basis, (iv) revise what constitutes a change of control of the Company, (v) add additional performance measures, and (vi) implement certain other modifications and clarifications as set forth in the A&R Plan. The maximum aggregate number of shares of Class A common stock that may be issued under the A&R Plan with respect to awards granted on or after the Effective Date is the sum of (i) 75,000,000 shares of Class A common stock, (ii) any shares of Class A common stock that remain available for awards under the 2021 Plan as of the Effective Date, and (iii) any shares of Class A

common stock subject to outstanding awards under the 2021 Plan as of the Effective Date that are payable in shares and that expire, are forfeited, or are otherwise terminated without having been exercised, vested, or settled in full, or are paid in cash, as applicable, on or after the Effective Date, subject to adjustment as described in the A&R Plan.

Under the A&R Plan, options, including non-statutory options and Incentive Stock Options (“ISO”), and RSUs may be granted to employees, non-employee directors and consultants. Options have a contractual life of up to ten years. The exercise price of a stock option shall not be less than 100% of the estimated fair value of the shares on the date of grant, as determined by the Board of Directors. For ISO as defined in the Internal Revenue Code of 1986, as amended (the “Code”), the exercise price of an ISO granted to a 10% stockholder shall not be less than 110% of the estimated fair value of the underlying stock on the date of grant as determined by the Board of Directors. The Company’s options generally vest over three to four years. Under the A&R Plan, stock option awards entitle the holder to receive one share of Class A common stock for every option exercised. In connection with the Merger, all of the 23andMe, Inc. option holders received an equivalent award at an exchange ratio of 2.293698169 that vest in accordance with the original terms of the award. The Company determined this to be a Type I modification but did not record any incremental stock-based compensation expense since the fair value of the modified awards immediately after the modification was not greater than the fair value of the original awards immediately before the modification.

RSUs generally vest ratably over a period ranging from one to four years and are subject to the participant’s continuing service to the Company over that period, except for the RSUs issued under the Annual Incentive Plan (the “2022 AIP”) as discussed below, which vest immediately upon issuance. Until vested, RSUs do not have the voting and dividend participation rights of common stock and the shares underlying the awards are not considered issued and outstanding.

The Company issues new shares of common stock upon exercise of stock options and the vesting of RSUs.

In February 2022, the Compensation Committee of the Company’s Board of Directors adopted a RSU conversion and deferral program for non-employee directors. The purpose of the program is to provide non-employee directors with the option to convert all or a portion of their cash compensation into a RSU award under the A&R Plan and the opportunity to defer settlement of all or a portion of their RSU awards. As of March 31, 2024, four non-employee directors have elected to convert all of their cash compensation into RSU awards, and two non-employee directors have elected to defer settlement of their RSU awards under the program.

On June 9, 2022, the Compensation Committee of the Company’s Board of Directors adopted the 2022 AIP, pursuant to which, beginning in fiscal 2023, which began on April 1, 2022, employees and certain service providers of 23andMe, Inc. and its affiliates were eligible to receive annual incentive bonuses in the form of cash or RSUs issued by the Company under the A&R Plan, based upon the Company’s achievement of certain pre-established financial, operational, and strategic performance metrics. During the fiscal year ended March 31, 2024, the fiscal 2023 annual incentive bonuses were paid in the form of RSUs based upon the Company’s achievement of certain pre-established financial, operational, and strategic performance metrics and as determined by the Compensation Committee of the Company’s Board of Directors. The number of RSUs granted was determined by dividing the dollar amount of the 2022 AIP annual incentive bonuses for fiscal 2023 by the trailing average closing price of the Company’s Class A common stock for the 20 trading days preceding the date of payment, resulting in the grant of 9,019,049 shares underlying fully-vested RSUs during the fiscal year ended March 31, 2024.

The Company accounts for the RSUs issued under the 2022 AIP (the “2022 AIP RSUs”) as liability awards, and adjusts the liability and corresponding expenses at the end of each quarter until the date of settlement, considering the probability that the performance conditions will be satisfied. The Company recorded stock-based compensation expense of $5.8 million and $18.9 million, related to the 2022 AIP RSUs for the fiscal years ended March 31, 2024 and 2023. As of March 31, 2024 and 2023, the liability of the 2022 AIP RSUs was $6.5 million and $18.9 million, which was included in other current liabilities on the consolidated balance sheet.

Stock Option Activity

Stock option activity and activity regarding shares available for grant under the 2021 Plan are as follows:


	Options Outstanding
	Outstanding Stock Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
	(in thousands, except share, years, and per share data)
Balance as of March 31, 2023	68,050,752	$	4.20	6.0	$	10,621
Granted	13,097,016	$	1.25
Exercised	(2,082,713)	$	0.44
Canceled/forfeited/expired	(8,325,285)	$	4.94
Balance as of March 31, 2024	70,739,770	$	3.68	5.1	$	306
Vested and exercisable as of March 31, 2024	52,562,963	$	4.12	4.0	$	306

The weighted average grant date fair value per share of options granted for the fiscal years ended March 31, 2024, 2023 and 2022 was $0.87, $2.42 and $4.44, respectively. The total intrinsic value of vested options exercised for the fiscal years ended March 31, 2024 and 2023 and 2022 was $1.4 million and $4.6 million and $25.6 million, respectively. As of March 31, 2024, unrecognized stock-based compensation cost related to unvested stock options was $28.1 million, which is expected to be recognized over a weighted-average period of 2.2 years. Due to a valuation allowance on deferred tax assets, the Company did not recognize any tax benefit from stock option exercises for the fiscal years ended March 31, 2024, 2023 and 2022.

The weighted average Black-Scholes assumptions used to value stock options at the grant dates are as follows:


	Year Ended March 31,
	2024				2023				2022
	Min		Max		Min		Max		Min		Max
Expected term (years)	5.8		6.0		6.0		6.8		3.3		6.1
Expected volatility range	78	%	79	%	76	%	81	%	72	%	75	%
Expected weighted-average volatility	79%				79%				74%
Risk-free interest rate	3.6	%	4.4	%	2.8	%	4.2	%	1.0	%	2.5	%
Expected dividend yield	—		—		—		—		—		—

Restricted Stock Units

The following table summarizes the RSU activity under the equity incentive plans and related information:


	Unvested RSUs	Weighted-Average Grant Date Fair Value Per Share
Balance as of March 31, 2023	26,562,566	$	4.73
Granted	50,324,367	$	1.67
Vested	(21,703,098)	$	3.14
Canceled/forfeited	(11,127,165)	$	3.66
Balance as of March 31, 2024	44,056,670	$	2.29

As of March 31, 2024, unrecognized stock-based compensation expense related to outstanding unvested RSUs was $90.9 million, which is expected to be recognized over a weighted-average period of 2.3 years.

Stock Subject to Vesting

In November 2021, in connection with the Lemonaid Acquisition, the Company granted 3,747,027 shares of Class A common stock with an aggregate grant date fair value of $43.9 million to two recipients, each of whom was a former stockholder and officer of Lemonaid Health (each, a “Former Lemonaid Officer”) and each of whom, following the closing of the Lemonaid Acquisition, joined the Company’s management team. The shares were scheduled to vest over a four-year period in quarterly installments beginning on February 1, 2022, subject to the respective recipient’s continued employment with the Company. In connection with the Lemonaid Acquisition, each of these recipients entered into a relinquishment agreement that provides that during the four-year period that commenced on November 1, 2021 (the “Protection Period”), the Company will not (i) terminate the recipient’s employment without cause, (ii) materially reduce the recipient’s base salary or the benefits to which similarly-situated executive employees of the Company or the Company’s subsidiaries are entitled, other than a broad-based reduction to the same extent that applies to such similarly-situated executive employees, or (iii) relocate the recipient’s principal place of employment to a location outside of a 50-mile radius of their current principal place of employment. If any such event occurs during the Protection Period or in the event of recipient’s death or disability, then the unvested portion(s) of these awards will immediately vest.

During the fiscal year ended March 31, 2024, the employment of two of the Former Lemonaid Officers terminated, which resulted in $25.1 million of stock-based compensation expense related to these awards to be recognized within general and administrative expenses.

The Company recognized total stock-based compensation expense related to these awards of $28.4 million,$11.0 million, and $4.5 million for the fiscal years ended March 31, 2024, 2023, and 2022, respectively, within general and administrative expenses. As of March 31, 2024, there was no remaining unamortized stock-based compensation expense associated with these awards.

Employee Stock Purchase Plan

On June 10, 2021, the shareholders of VGAC approved the Company’s ESPP. A total of 11,420,000 shares of the Company’s Class A common stock were initially reserved for issuance under the ESPP. Pursuant to the terms of the ESPP, the number of shares of the Company’s Class A common stock reserved for issuance will automatically increase on January 1 of each calendar year, beginning on January 1, 2023, by the lesser of (i) an amount equal to one percent (1.0%) of the total number of shares of Class A and Class B common stock outstanding as of the last day of the immediately preceding December 31st, (ii) 5,000,000 shares, or (iii) a lesser number of shares as determined by the Board of Directors in its discretion. During the fiscal years ended March 31, 2024 and 2023, respectively, 5,329,571 and 2,642,313 shares of the Company’s Class A common stock were issued under the ESPP, at an average exercise price of $0.61 and $2.45, respectively. No shares were issued under the ESPP during the fiscal year ended March 31, 2022.

The Company’s ESPP permits U.S. employees, including executive officers, employed by the Company, except for those holding five percent or more of the total combined voting power or value of all classes of the Company’s stock, may participate in the ESPP and may contribute, normally through payroll deductions, up to 15% of their earnings (as defined in the ESPP) for the purchase of the Company’s Class A common stock during pre-specified offering periods under the ESPP. Class A common stock will be purchased for the accounts of employees participating in the ESPP at a price per share that is at least the lesser of (i) 85% of the fair market value of a share of the Company’s Class A common stock on the first date of an offering, or (ii) 85% of the fair market value of a share of the Company’s Class A common stock on the date of purchase. No employee may purchase shares under the ESPP at a rate in excess of $25,000 worth of the Company’s Class A common stock based on the fair market value per share of the Company’s Class A common stock at the beginning of an offering for each calendar year such purchase right is outstanding. The ability to purchase shares of the Company’s common stock for a discount represents an option and, therefore, the ESPP is considered a compensatory plan. Accordingly, stock-based compensation expense is determined based on the option’s grant-date fair value as estimated by applying the Black Scholes option-pricing model and is recognized over the requisite service period, which is the withholding period.

The ESPP provides for concurrent 12-month offerings with successive six-month purchase intervals commencing on March 1 and September 1 of each year and purchase dates occurring on the last day of each such purchase interval (i.e., August 31 and February 28). The ESPP contains a rollover provision whereby if the price of the Company’s Class A common stock on the first day of a new offering period is less than the price on the first day of any preceding offering period, all participants in a preceding offering period with a higher first day price will be automatically withdrawn from such preceding offering period and re-enrolled in the new offering period. The rollover feature, when triggered, will

be accounted for as a modification to the preceding offering period, resulting in incremental expense to be recognized over the new offering period.

The weighted average grant date fair value of ESPP award per share for the fiscal years ended March 31, 2024, 2023, and 2022 was $0.44, $1.35 and $1.84, respectively, using the following assumptions:


	Year Ended March 31,
	2024				2023				2022
	Min		Max		Min		Max		Min		Max
Expected term (years)	0.5		1.0		0.5		1.0		0.5		1.0
Expected volatility range	67	%	99	%	78	%	109	%	77	%	86	%
Expected weighted-average volatility	70%				96%				82%
Risk-free interest rate	4.9	%	5.5	%	3.3	%	5.2	%	0.6	%	0.9	%
Expected dividend yield	—		—		—		—		—		—

Stock-Based Compensation

Total stock-based compensation expense, including stock-based compensation expense related to awards classified as liabilities, was included in costs and expenses as follows:


	Year Ended March 31,
	2024		2023		2022
	(in thousands)
Cost of revenue (1)	$	6,234	$	10,874	$	4,029
Research and development	37,765		48,837		26,540
Sales and marketing	6,567		8,635		5,122
General and administrative (2)	68,020		47,671		22,242
Restructuring and other charges	1,623		—		—
Total stock-based compensation expense	$	120,209	$	116,017	$	57,933

(1) Primarily relates to cost of service revenue. Stock-based compensation expense related to cost of product was immaterial for the fiscal years ended March 31, 2024, 2023, and 2022.

(2) Includes $32.8 million of stock-based compensation charges related to the termination of two Former Lemonaid Officers during the fiscal year ended March 31, 2024.

Leases

12 Months Ended

Mar. 31, 2024

Leases [Abstract]

Leases

The Company has entered into operating leases for its corporate offices, lab facilities and storage spaces, with remaining contractual periods ranging from 1.8 years to 7.3 years. For the Company’s facility in Sunnyvale, California, there is an option to extend the lease for a period of seven years. The Company is not reasonably certain that it will exercise this option and therefore it is not included in its ROU assets and lease liabilities as of March 31, 2024. The Company did not have any finance leases as of March 31, 2024 and 2023.

The components of lease costs and other information related to leases were as follows:


	Year Ended March 31,
	2024			2023			2022
	(in thousands, except years and percentages)
Operating lease cost	$	13,487		$	13,650		$	13,640
Variable lease cost	4,403			5,422			6,425
Total lease cost	$	17,890		$	19,072		$	20,065

Cash paid for amounts included in the measurement of operating lease liabilities, net	$	(15,011)		$	(14,941)		$	(13,490)
ROU assets obtained in exchange for new operating lease obligations	$	—		$	7,930		$	—

Weighted average remaining lease term (years)	6.6			7.5			8.4
Weighted average discount rate	8		%	8		%	7		%

As of March 31, 2024, the future minimum lease payments included in the measurement of the Company’s operating lease liabilities were as follows:


	As of March 31, 2024
	(in thousands)
Years ending March 31,
2025	$	14,225
2026	15,946
2027	15,472
2028	11,666
2029	12,016
Thereafter	29,414
Total future operating lease payments	98,739
Less: imputed interest	(22,224)
Total operating lease liabilities	$	76,515

Income Taxes - Schedule of deferred tax assets and liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Deferred tax assets:
Net operating loss carryforwards	$ 280,549	$ 262,295
Capitalized research and development expenses	48,027	33,709
Accruals and reserves	4,237	3,865
Stock-based compensation	13,397	18,065
Deferred revenue	17,570	11,498
Operating lease liabilities	17,966	21,474
Property and equipment	1,192	0
Capital loss carryover	5,109	0
Other	303	332
Gross deferred tax assets	388,350	351,238
Valuation allowance	(364,871)	(322,104)
Total deferred tax assets	23,479	29,134
Deferred tax liabilities:
Prepaid expenses	(783)	(892)
Intangibles	(11,215)	(13,689)
Operating lease right-of-use assets	(11,481)	(14,117)
Property and equipment	0	(436)
Gross deferred tax liabilities	(23,479)	(29,134)
Net deferred taxes	$ 0	$ 0

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Operating Loss Carryforwards [Line Items]
Deferred foreign income tax benefit		$ 2,800
Deferred income tax benefit			$ 3,500
Operating loss carryforwards	$ 779,700
Increase in valuation allowance	42,800
Unrecognized tax benefits	0	0	0
Unrecognized tax benefits, penalties and interest Expense	0	0	0
Increase in unrecognized tax benefits reasonably possible within next 12 months	0	0	0
Decrease in unrecognized tax benefits is reasonably possible within next 12 months	0	$ 0	$ 0
Capital Loss Carryforward
Operating Loss Carryforwards [Line Items]
Tax credit carryforwards	21,800
Federal
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	1,100,000
State
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 693,700

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Mar. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Summary of Significant Accounting Policies

12 Months Ended

Mar. 31, 2024

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation and Principle of Consolidation

Reclassification

Fiscal Year

The Company’s fiscal year ends on March 31. References to fiscal year 2024, 2023 and 2022 refer to the fiscal years ended March 31, 2024, 2023 and 2022, respectively.

Use of Estimates

Concentration of Supplier Risk

Concentration of Credit Risk

parties, which collect its credit card receivables, and large multinational corporations. The Company regularly monitors the aging of accounts receivable balances.

Significant customer information is as follows:


	March 31, 2024		March 31, 2023
Percentage of accounts receivable:
Customer C (1)	59	%	69	%
Customer F	—	%	27	%
Customer I	30	%	—	%

(1) Customer C is a reseller


	Year Ended March 31,
	2024		2023		2022
Percentage of revenue:
Customer C (1)	22	%	22	%	20	%
Customer B	5	%	16	%	17	%

(1) Customer C is a reseller

Cash, Cash Equivalents and Restricted Cash

Fair Value Measurements

Three levels of inputs may be used to measure fair value:

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.

Accounts Receivable, Net

collectability of those balances and an allowance is recorded accordingly. The reserves for customer refunds, sales incentives and bad debt were immaterial for all periods presented.

Inventories

Deferred Cost of Revenue

Property and Equipment, Net

The estimated useful lives of the Company’s property and equipment are as follows:


Computer equipment 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

Internal-Use Software

Goodwill and Intangible Assets

Impairment of Long-Lived Assets

Leases

Revenue Recognition

PGS

Revenue is recognized at a point in time upon delivery of the initial ancestry reports and initial health reports to the customer, as the customer obtains control when the report is received.

Research Services

Telehealth

Collaborations

Cost of Revenue

Cost of revenue for research services primarily consists of personnel-related expenses, including salaries, benefits and stock-based compensation, and allocated overhead.

Research and Development

Advertising Costs

Stock-Based Compensation

Income Taxes

Business Combinations

Variable Interest Entities

Foreign Currency

Comprehensive Loss

Net Loss Per Share Attributable to Common Stockholders

Related Parties

Restructuring

Contingencies

Liquidity

Recently Issued Accounting Pronouncements

Balance Sheet Components - Summary of Intangible Assets, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 67,300	$ 81,500
Accumulated Amortization	(34,045)	(24,890)
Cumulative Impairment Charge		(9,968)
Cumulative Currency Translation		(1,122)
Net Carrying Amount	$ 33,255	$ 45,520
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (Years)	0 years	7 months 6 days
Gross Carrying Amount	$ 14,900	$ 14,900
Accumulated Amortization	(14,900)	(10,554)
Net Carrying Amount	$ 0	$ 4,346
Partnerships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (Years)	7 years 7 months 6 days	8 years 7 months 6 days
Gross Carrying Amount	$ 9,000	$ 23,200
Accumulated Amortization	(2,175)	(4,385)
Cumulative Impairment Charge		(9,968)
Cumulative Currency Translation		(1,122)
Net Carrying Amount	$ 6,825	$ 7,725
Trademark
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (Years)	2 years 7 months 6 days	3 years 7 months 6 days
Gross Carrying Amount	$ 11,000	$ 11,000
Accumulated Amortization	(5,317)	(3,117)
Net Carrying Amount	$ 5,683	$ 7,883
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (Years)	4 years 7 months 6 days	5 years 7 months 6 days
Gross Carrying Amount	$ 24,100	$ 24,100
Accumulated Amortization	(8,320)	(4,877)
Net Carrying Amount	$ 15,780	$ 19,223
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (Years)	2 years 7 months 6 days	3 years 7 months 6 days
Gross Carrying Amount	$ 2,800	$ 2,800
Accumulated Amortization	(1,353)	(793)
Net Carrying Amount	$ 1,447	$ 2,007
Patents
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (Years)	4 years 6 months	5 years 6 months
Gross Carrying Amount	$ 5,500	$ 5,500
Accumulated Amortization	(1,980)	(1,164)
Net Carrying Amount	$ 3,520	$ 4,336

Commitments and Contingencies (Tables)

12 Months Ended

Mar. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Unrecorded Unconditional Purchase Obligations Disclosure

As of March 31, 2024, the Company had outstanding non-cancelable purchase obligations with a term of 12 months or longer that have not been recognized on its balance sheet as follows:


	As of March 31, 2024
	(in thousands)
Fiscal years ending March 31,
2025	$	11,740
2026	3,458
2027	1,900



Total	$	17,098

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Accounts payable	$ 11,571	$ 12,924
Accrued expenses	42,263	66,430
Deferred revenue, current	64,827	62,521
Deferred revenue, noncurrent	$ 10,000	$ 0
Preferred stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common Stock Class A
Common stock, shares authorized (in shares)	1,140,000,000	1,140,000,000
Common stock, shares issued (in shares)	323,394,807	293,020,474
Common stock, shares outstanding (in shares)	323,394,807	293,020,474
Common Stock Class B
Common stock, shares authorized (in shares)	350,000,000	350,000,000
Common stock, shares issued (in shares)	166,724,586	168,179,488
Common stock, shares outstanding (in shares)	166,724,586	168,179,488
Related Party
Accounts payable	$ 3,809	$ 3,186
Accrued expenses	6,752	8,738
Deferred revenue, current	10,999	11,753
Deferred revenue, noncurrent	$ 10,000	$ 0

Balance Sheet Components - Operating Lease Right-Of-Use Asset, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operating lease right-of-use assets	$ 85,166	$ 85,408
Less: accumulated amortization	(36,272)	(29,330)
Operating Lease, Right-of-Use Asset	$ 48,894	$ 56,078

Segment Information - Additional Information (Details)	12 Months Ended
Segment Information - Additional Information (Details)	Mar. 31, 2024 reportable_segment
Segment Reporting [Abstract]
Reportable segments	2

Stockholders' Equity

12 Months Ended

Mar. 31, 2024

Equity [Abstract]

Stockholders' Equity

Redeemable Convertible Preferred Stock

Immediately prior to the effective time of the Merger, all series of the redeemable convertible preferred stock of 23andMe, Inc. were converted into shares of Class B common stock of 23andMe, Inc. on a one-for-one basis and then converted to the Company’s Class B common stock at an exchange ratio of 2.293698169, and the aggregate share amount of 209,181,855 was presented as having been converted as of March 31, 2021. As of March 31, 2024, 2023, and 2022 no shares of redeemable convertible preferred stock were outstanding.

Common Stock

Prior to the Merger, 23andMe, Inc. had three classes of authorized common stock: Class A common stock, Class B common stock, and Class C common stock. There were no outstanding shares of 23andMe, Inc. Class C common stock. The rights of the holders of 23andMe, Inc. Class A, Class B, and Class C common stock, respectively, were identical, except with respect to (i) electing members of the Board of Directors, and (ii) voting rights.

On the Closing Date, each share of 23andMe, Inc. Class A common stock was canceled and converted into the Company’s Class A common stock at an exchange ratio of 2.293698169, each share of 23andMe, Inc. Class B common stock was canceled and converted into the Company’s Class B common stock at an exchange ratio of 2.293698169.

On June 16, 2021, in connection with the Merger, the Company amended and restated its certificate of incorporation to authorize 1,490,000,000 authorized shares of common stock with a par value of $0.0001 per share, of which 1,140,000,000 shares are designated Class A common stock and 350,000,000 shares are designated Class B common stock. The rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting and conversion rights. Holders of Class A common stock are entitled to one vote per share and holders of Class B common stock are entitled to ten votes per share. Each share of Class B common stock is convertible into one share of Class A common stock any time at the option of the holder and is automatically converted into one share of Class A common stock upon transfer (except for certain permitted transfers). Once converted into Class A common stock, the Class B common stock will not be reissued.

Class A Common Stock Warrants

As the accounting acquirer, 23andMe, Inc. is deemed to have assumed 8,113,999 warrants for Class A common stock that were held by the Sponsor at an exercise price of $11.50 (the “Private Placement Warrants”) and 16,951,609 Class A common stock warrants held by VGAC’s shareholders at an exercise price of $11.50 (the “Public Warrants” and, together with the Private Placement Warrants, the “Warrants”). In accordance with the warrant agreement, the Warrants became exercisable on October 6, 2021. Had the Warrants not expired in connection with the Redemption (as defined below), the Warrants would have expired five years after the completion of the Business Combination.

Subsequent to the Merger, the Private Placement Warrants and Public Warrants for shares of Class A common stock met liability classification requirements since the Warrants were required to be settled in cash under a tender offer. In addition, Private Placement Warrants were potentially subject to a different settlement amount as a result of being held by the Sponsor which precludes the Private Placement Warrants from being considered indexed to the entity’s own stock. Therefore, the Warrants were classified as liabilities on the consolidated balance sheets.

Public Warrant Terms

The Public Warrants became exercisable into shares of Class A common stock commencing on October 6, 2021.

Redemption of Warrants When the Price per Class A Common Stock Equals or Exceeds $18.00

Once the Warrants became exercisable, the Company had the right to redeem the outstanding Warrants:

•in whole and not in part;

•at a price of $0.01 per warrant;

•upon not less than 30 days’ prior written notice of redemption to each warrant holder; and

•if, and only if, the last reported sale price of the Class A common stock for any 20 trading days within a 30-trading-day period ending three business days before the Company sends the notice of redemption to the warrant holders (which is referred to as the “Reference Value”) equals or exceeds $18.00 per share (as adjusted for share splits, share capitalizations, reorganizations, recapitalizations, and the like).

Redemption of Warrants When the Price per Class A Common Stock Equals or Exceeds $10.00

Once the Warrants became exercisable, the Company had the right to redeem the outstanding warrants:

•in whole and not in part;

•at $0.10 per Warrant upon a minimum of 30 days’ prior written notice of redemption, provided that holders will be able to exercise their warrants on a cashless basis prior to redemption and receive that number of shares determined by reference to the table below, based on the redemption date and the “fair market value” of Class A common stock;

•if, and only if, the Reference Value equals or exceeds $10.00 per share (as adjusted per share sub-divisions, share dividends, reorganizations, reclassifications, recapitalizations, and the like); and

•if the Reference Value is less than $18.00 per share (as adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations, and the like) the Private Placement Warrants must also be concurrently called for redemption on the same terms as the outstanding Public Warrants, as described above.

The numbers of shares of Class A common stock that a warrant holder had the right to receive upon exercise in connection with a redemption by the Company pursuant to this redemption feature was based on the “redemption fair market value” of the Class A common stock on the corresponding redemption date (assuming holders elect to exercise their Warrants on a cashless basis prior to redemption), determined based on the volume-weighted average price for the 10 trading days immediately following the date on which the notice of redemption is sent to the holders of Warrants, and the number of months that the corresponding redemption date precedes the expiration date of the Warrants, each as set forth in such fee table. The Company provided its warrant holders with the redemption fair market value no later than one business day after the 10-trading-day period described above ended.

No fractional shares were issued upon exercise of the Warrants. If, upon exercise of the Warrants, a holder would have been entitled to receive a fractional interest in a share, the Company upon exercise rounded down to the nearest whole number the number of shares of Class A common stock that were issued to the warrant holder.

Private Placement Warrants

The Private Placement Warrants (including the shares of Class A common stock issuable upon exercise of the Private Placement Warrants) were not transferable, assignable, or salable until 30 days after the completion of the Business Combination (except, among other limited exceptions, to VGAC’s officers and directors and other persons or entities affiliated with the Sponsor) and they were redeemable by the Company, so long as they are held by the Sponsor, members of the Sponsor, or their permitted transferees under certain specified circumstances. The Sponsor or its permitted transferees had the option to exercise the Private Placement Warrants on a cashless basis. Except as described herein, the Private Placement Warrants had terms and provisions identical to those of the Public Warrants. If the Private Placement Warrants had been held by holders other than the Sponsor or its permitted transferees, the Private Placement Warrants would have been redeemable by the Company and exercisable by the holders on the same basis as the Public Warrants.

Except as described under “—Redemption of Warrants When the Price per Class A common stock Equals or Exceeds $10.00,” if holders of the Private Placement Warrants elected to exercise them on a cashless basis, they would have paid the exercise price by surrendering such Warrants for that number of shares of Class A common stock equal to the quotient obtained by dividing (x) the product of the number of shares of Class A common stock underlying the Warrants, multiplied by the excess of the “Sponsor exercise fair market value” of the Class A common stock over the exercise price of the Warrants by (y) the Sponsor exercise fair market value. For these purposes, the “Sponsor exercise fair market value” means the average reported closing price of the shares of Class A common stock for the 10 trading days ending on the third trading day prior to the date on which the notice of warrant exercise was sent to the warrant agent.

Warrant Redemption

On November 22, 2021, the Company issued a redemption notice to warrant holders announcing that all Public Warrants and Private Placement Warrants outstanding on December 22, 2021 (the “Redemption Date”) would be redeemed for $0.10 per Warrant, if not earlier exercised on a cash or cashless basis (the “Redemption”). After November 22, 2021 and prior to the Redemption Date, warrant holders were entitled to exercise the Warrants (i) in cash, at an exercise price of $11.50 per share of Class A common stock, or (ii) on a cashless basis in which the exercising holder was entitled to receive 0.2516 shares of Class A common stock per Warrant. Any Warrants not exercised by the Redemption Date were automatically redeemed by the Company at a price of $0.10 per Warrant.

In connection with the Redemption, 23,901,466 Warrants were exercised, representing approximately 95% of the outstanding Warrants, and 6,016,327 shares of Class A common stock were issued upon exercise of such Warrants. Total cash proceeds generated from exercises of the Warrants were immaterial, and the Company made an immaterial redemption payment to the holders of the 1,164,142 redeemed Warrants. Following the Redemption Date, the Public Warrants stopped trading on Nasdaq and were delisted. No Warrants were outstanding as of March 31, 2024 and 2023.

The change in fair value of warrant liabilities totaling $33.0 million was recorded through the date of exercise or redemption within the consolidated statements of operations and comprehensive loss in fiscal year ended March 31, 2022. Additionally, the fair value of the warrant liability of $42.4 million was reclassified to additional paid-in capital following the Redemption.

Acquisition

As part of the Lemonaid Acquisition, the Company issued 26,825,241 shares of Class A common stock and an additional 3,747,027 shares of Class A common stock that are subject to vesting. The shares subject to vesting are considered stock-based compensation as outlined in Note 15, “Equity Incentive Plans and Stock-Based Compensation.”

Reserve for Issuance

The Company has the following shares of Class A common stock reserved for future issuance, on an as-if-converted basis:


	March 31, 2024	March 31, 2023
Outstanding stock options	70,739,770	68,050,752
Outstanding restricted stock units	44,056,670	26,562,566
Remaining shares available for future issuance under Amended and Restated 2021 Incentive Equity Plan	111,276,882	55,922,182
Remaining shares available for future issuance under Employee Stock Purchase Plan	12,845,267	13,349,302
Total shares of common stock reserved	238,918,589	163,884,802

Preferred Stock

Pursuant to the Company’s amended and restated certificate of incorporation, the Company is authorized to issue 10,000,000 shares of preferred stock, each with a par value of $0.0001 per share. The Company’s Board of Directors has the authority to issue shares of the preferred stock in one or more series and to determine the preferences, privileges, and restrictions, including voting rights, of those shares. As of March 31, 2024 and 2023, no shares of preferred stock were issued and outstanding.

At-the-Market (“ATM”) Offering

On February 6, 2023, the Company entered into a sales agreement with Cowen and Company, LLC (“Cowen”), as sales agent, pursuant to which the Company may sell shares of its Class A common stock for an aggregate up to $150 million under at-the-market offering program (the “ATM program”). The Company will pay Cowen a commission of 3.0% of the gross proceeds for the Class A common stock sold through the ATM program. As of March 31, 2024, the Company has not made any sales under the ATM program.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Restructuring

12 Months Ended

Mar. 31, 2024

Restructuring and Related Activities [Abstract]

Restructuring

In June 2023, the Company approved a reduction in force intended to restructure and strategically align its workforce with the Company’s strategy and to reduce the Company’s operating costs, primarily in the Consumer and Research Services segment. Subsequently in August 2023, the Company approved another reduction in force primarily intended to restructure and strategically align the Therapeutics workforce. As a result, during the fiscal year ended March 31, 2024, the Company recorded restructuring charges of $8.4 million, within restructuring and other charges in the

consolidated statements of operations, of which $6.7 million, was related to cash severance payments and benefits continuation.

The following table shows the total amount incurred and accrued related to one-time employee termination benefits:


	One-Time Employee Termination Benefits
	(in thousands)
Accrued restructuring costs included in accrued expenses and other current liabilities as of March 31, 2023	$	—
Restructuring charges incurred during the period	8,368
Amounts paid during the period	(8,346)
Accrued restructuring costs included in accrued expenses and other current liabilities as of March 31, 2024	$	22

The Company does not expect to incur any further material expenses in connection with the reduction in force events that occurred in June and August 2023.

Restructuring (Tables)

12 Months Ended

Mar. 31, 2024

Restructuring and Related Activities [Abstract]

Schedule of Amounts Incurred and Accrued Related to One-time Termination Benefits

The following table shows the total amount incurred and accrued related to one-time employee termination benefits:


	One-Time Employee Termination Benefits
	(in thousands)
Accrued restructuring costs included in accrued expenses and other current liabilities as of March 31, 2023	$	—
Restructuring charges incurred during the period	8,368
Amounts paid during the period	(8,346)
Accrued restructuring costs included in accrued expenses and other current liabilities as of March 31, 2024	$	22

Acquisition (Tables)

12 Months Ended

Mar. 31, 2024

Business Combinations [Abstract]

Schedule of Consideration Transferred to Acquired Identifiable Assets and Assumed Liabilities

The following is the allocation of the consideration transferred to acquired identifiable assets and assumed liabilities, net of cash acquired, in the Lemonaid Acquisition as of the acquisition date:


	Amount
	(in thousands)
Cash	$	7,711
Prepaid expenses and other current assets	3,388
Property and equipment, net	1,019
Intangible Assets:
Customer relationships	14,900
Partnerships	23,200
Trademark	11,000
Developed technology	24,100
Non-compete agreements	2,800
Operating lease right-of-use asset	848
Other assumed assets	407
Accounts payable	(3,106)
Accrued liabilities	(4,218)
Operating lease liability	(971)
Deferred tax liability	(6,645)
Other assumed liabilities	(1,311)
Total acquired identifiable assets and liabilities	73,122
Goodwill	351,598
Total consideration transferred	$	424,720

Pro Forma Revenue and Net Loss Information

The pro forma revenue and net loss is presented for informational purposes only and does not purport to be indicative of the results of future operations or the results that would have occurred had the transaction taken place on April 1, 2020.


	Year Ended March 31,
	2022
	(in thousands)
Pro forma revenue(1)	$	295,025
Pro forma net loss(1)	$	(241,382)

(1)As if the Lemonaid Acquisition was consummated on April 1, 2020.

Organization and Description of Business	12 Months Ended
Organization and Description of Business	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business 23andMe Holding Co. (the “Company” or “23andMe”) is dedicated to helping people access, understand, and benefit from the human genome. The Company is building the leading direct-to-consumer precision medicine platform that powers its genetics driven therapeutics and research business. The Company is dedicated to empowering customers to optimize their health by providing consumers direct access to their genetic information, personalized reports, actionable insights and digital access to affordable healthcare professionals through our telehealth platform, Lemonaid Health, Inc. The Company pioneered direct-to-consumer genetic testing, giving consumers unique, personalized information about their genetic health risks, ancestry, and traits. It was the first company to obtain Food and Drug Administration (“FDA”) authorization for a direct-to-consumer genetic test, and it is the only company to have FDA authorization, clearance, or an exemption from premarket notification for all of the carrier status, genetic health risk, cancer predisposition, and pharmacogenetics reports that the Company offers to customers. Through the Lemonaid Health telehealth platform, the Company connects patients to licensed healthcare professionals to provide affordable and direct online access to medical care, from consultation through treatment, for a number of common conditions, using evidence-based guidelines and up-to-date clinical protocols. When medications are prescribed by Lemonaid Health’s affiliated healthcare professionals, patients can use Lemonaid Health’s online pharmacy for fulfillment. Patients also can access telehealth consultations for certain 23andMe genetic reports through Lemonaid Health. 23andMe, Inc., the Company’s accounting predecessor, was incorporated in Delaware in 2006. The Company is headquartered in South San Francisco, California. The Company’s predecessor, VG Acquisition Corp. (“VGAC”), was a blank check company originally incorporated in 2020 as a Cayman Islands exempted company. On June 16, 2021 (the “Closing Date”), VGAC and Chrome Merger Sub, Inc., a Delaware corporation and wholly owned direct subsidiary of VGAC (“Merger Sub”), consummated a merger with 23andMe, Inc. (the “Merger”), whereby Merger Sub merged with and into 23andMe, Inc., with 23andMe, Inc. being the surviving corporation and a wholly owned subsidiary of the Company. In connection with the Merger, VGAC changed its jurisdiction of incorporation from the Cayman Islands to the State of Delaware and changed its name to 23andMe Holding Co. (the “Domestication” and, together with the Merger, the “Business Combination”). The Company has evaluated how it is organized and managed and has identified two reporting segments: (1) Consumer, and Research Services, and (2) Therapeutics.

Disposition of Subsidiary	12 Months Ended
Disposition of Subsidiary	Mar. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Disposition of Subsidiary	Disposition of Subsidiary On August 1, 2023, the Company completed the sale of Lemonaid Health Limited, its wholly-owned, indirect U.K. subsidiary. Lemonaid Health Limited was not a significant subsidiary, and the disposition of Lemonaid Health Limited did not constitute a strategic shift that would have a major effect on the Company’s operations or financial results. As a result, the results of operations for Lemonaid Health Limited were not reported as discontinued operations under the guidance of ASC 205 “Presentation of Financial Statements.” During the fiscal year ended March 31, 2024, the Company recorded $2.4 million of loss on the disposition of Lemonaid Health Limited and transaction-related costs within general and administrative expenses. The Company does not expect to incur any further material expenses in connection with the disposition.

Equity Incentive Plans and Stock-Based Compensation - Additional Information (Details)						1 Months Ended	12 Months Ended
	Sep. 06, 2023 USD ($) shares	Sep. 05, 2023 USD ($)	Nov. 01, 2021 shares	Jun. 16, 2021	Jun. 10, 2021 shares	Nov. 30, 2021 USD ($) stockholder shares	Mar. 31, 2024 USD ($) tradingDay non-employeeDirector officer $ / shares shares	Mar. 31, 2023 USD ($) $ / shares shares	Mar. 31, 2022 USD ($) $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for future issuance (in shares) \| shares							238,918,589	163,884,802
Granted (in shares) \| shares							13,097,016
Stock-based compensation expense							$ 120,209,000	$ 116,017,000	$ 57,933,000
Weighted-average grant date fair values of options granted (in usd per share) \| $ / shares							$ 0.87	$ 2.42	$ 4.44
Intrinsic value of vested options exercised							$ 1,400,000	$ 4,600,000	$ 25,600,000
Unrecognized stock-based compensation cost							$ 28,100,000
Weighted average period over which unrecognized compensation is expected to be recognized							2 years 2 months 12 days
Shares issued, weighted average exercise price (usd per share) \| $ / shares							$ 0.61
Lemonaid Health, Inc.
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period						4 years
Common stock granted subject to vest, weighted average grant date fair value						$ 43,900,000
Former officers terminated \| officer							2
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Tax benefit recognized from stock option exercises							$ 0	0	0
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grants (in shares) \| shares							50,324,367
Weighted average period over which unrecognized compensation is expected to be recognized							2 years 3 months 18 days
Stock-based compensation expense, unrecognized cost							$ 90,900,000
Former Lemonaid Officer \| Lemonaid Health, Inc.
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation cost							0
Former Lemonaid Officer \| General and administrative \| Lemonaid Health, Inc.
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense							28,400,000	11,000,000	$ 4,500,000
Former Lemonaid Officer \| Restricted Stock Units \| General and administrative \| Lemonaid Health, Inc.
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense							$ 25,100,000
2006 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in shares) \| shares							0
A and R Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exchange ratio of common stock	2.293698169
Percentage of shares automatically added annually	5.00%	3.00%
Non-employee directors that elected to convert all cash compensation into RSU awards \| non-employeeDirector							4
Non-employee directors that elected to defer settlement of RSU awards \| non-employeeDirector							2
A and R Plan \| Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation terms of award	Options have a contractual life of up to ten years. The exercise price of a stock option shall not be less than 100% of the estimated fair value of the shares on the date of grant, as determined by the Board of Directors.
Share-based payment award, expiration period	10 years
Shares of common stock received for each option exercised	1
A and R Plan \| Stock Options \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price of stock options as a percentage of fair value of shares	100.00%
Vesting period	3 years
A and R Plan \| Stock Options \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	4 years
A and R Plan \| Restricted Stock Units \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	1 year
A and R Plan \| Restricted Stock Units \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	4 years
A and R Plan \| Share-Based Payment Arrangement, Nonemployee \| Director
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Annual compensation limit	$ 400,000	$ 300,000
2022 Annual Incentive Plan \| Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grants (in shares) \| shares							9,019,049
Stock-based compensation expense							$ 5,800,000	18,900,000
Liability for awards							$ 6,500,000	$ 18,900,000
ESPP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Potential annual increase in shares reserved for future issuance \| shares					5,000,000
Shares issued (in shares) \| shares							5,329,571	2,642,313	0
Shares issued, weighted average exercise price (usd per share) \| $ / shares								$ 2.45
Weighted average grant date fair value (in usd per share) \| $ / shares							$ 0.44	$ 1.35	$ 1.84
ESPP \| Employee Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock issued and outstanding, percentage					(1.00%)
ESPP concurrent offering period							12 months
ESPP successive purchase period							6 months
Common Stock Class A \| Lemonaid Health, Inc.
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock granted subject to vest (in shares) \| shares			3,747,027			3,747,027
Common Stock Class A \| Former Lemonaid Officer \| Lemonaid Health, Inc.
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Former stockholders of acquiree who were granted shares \| stockholder						2
Common Stock Class A \| 2021 Incentive Equity Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for future issuance (in shares) \| shares					136,000,000
Exchange ratio of common stock				2.293698169
Common Stock Class A \| A and R Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Additional shares authorized (in shares) \| shares	75,000,000
Common Stock Class A \| 2022 Annual Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Days preceding date of payment \| tradingDay							20
Common Stock Class A \| ESPP \| Employee Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for future issuance (in shares) \| shares					11,420,000
Participants holding combined voting percentage that are excluded from plan participation							5.00%
Payroll deductions to participate in plan percentage (up to)							15.00%
Purchase price of common stock, percent							85.00%
Maximum value of shares employee may purchase							$ 25,000

Fair Value Measurements

12 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

Recurring Fair Value Measurements

The fair value of cash, restricted cash, accounts receivable, accounts payable, and accrued liabilities are stated at their carrying value, which approximates fair value due to the short time to the expected receipt or payment date as of March 31, 2024 and 2023.

The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis as of March 31, 2024 and 2023:


	March 31, 2024								March 31, 2023
	Fair Value		Level 1		Level 2		Level 3		Fair Value		Level 1		Level 2		Level 3
	(in thousands)
Financial Assets:
Money market funds	$	211,000	$	211,000	$	—	$	—	$	372,000	$	372,000	$	—	$	—
Total financial assets	$	211,000	$	211,000	$	—	$	—	$	372,000	$	372,000	$	—	$	—

Cash equivalents consist primarily of money market funds and are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets.

The Company had no transfers between levels of the fair value hierarchy of its assets and liabilities measured at fair value during the fiscal years ended March 31, 2024 and 2023.

Nonrecurring Fair Value Measurements

Identifiable assets and liabilities acquired or assumed are measured separately at their fair values as of the acquisition date. Certain of the Company’s assets, including intangible assets and goodwill, are measured at fair value on a nonrecurring basis and are classified in Level 3 of the fair value hierarchy. During the fiscal year ended March 31, 2024, the Company recorded $351.7 million of goodwill impairment charges, which resulted in full impairment of goodwill and

no remaining balance. During the year ended March 31, 2023, the Company recorded a $10.0 million impairment charge to write down the value of an acquired intangible asset to its estimated fair value. See Note 10, “Balance Sheet Components — Goodwill” and “Balance Sheet Components — Intangible Assets, Net,” for additional information.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Audit Information	12 Months Ended
Audit Information	Mar. 31, 2024
Auditor Information [Abstract]
Auditor Firm ID	185
Auditor Name	KPMG LLP
Auditor Location	Santa Clara, California

Income Taxes - Components of Loss Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Domestic	$ (663,740)	$ (292,730)	$ (221,212)
Foreign	(2,891)	(21,698)	242
Loss before income taxes	$ (666,631)	$ (314,428)	$ (220,970)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
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-Subparagraph (b)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 32
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-Name Accounting Standards Codification
-Section 50
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
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-Topic 940
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Balance Sheet Components

12 Months Ended

Mar. 31, 2024

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

Prepaid Expense and Other Current Assets

Prepaid expense and other current assets consisted of the following:


	March 31, 2024		March 31, 2023
	(in thousands)
Prepaid expenses	$	9,296	$	13,244
Other receivables	5,751		3,003
Other current assets	1,794		2,977
Prepaid expenses and other current assets	$	16,841	$	19,224

Property and Equipment, Net

Property and equipment, net consisted of the following:


	March 31, 2024		March 31, 2023
	(in thousands)
Computer equipment and software	$	7,485	$	10,376
Laboratory equipment and software	51,635		52,785
Furniture and office equipment	8,929		8,946
Leasehold improvements	41,180		40,964
Capitalized asset retirement obligations	853		853
Property and equipment, gross	110,082		113,924
Less: accumulated depreciation and amortization	(81,731)		(75,316)
Property and equipment, net	$	28,351	$	38,608

Depreciation and amortization expense was $11.0 million, $14.8 million and $16.1 million for the fiscal years ended March 31, 2024, 2023 and 2022, respectively. For the fiscal year ended March 31, 2024, the Company wrote off fully depreciated property and equipment, which is no longer in use, with a cost basis of $4.6 million. For the fiscal year ended March 31, 2023, write offs of fully depreciated property and equipment were immaterial. There were no impairments to property and equipment for the fiscal years ended March 31, 2024 and 2022. There was an immaterial impairment to property and equipment for the fiscal year ended March 31, 2023.

Operating Lease Right-Of-Use Assets, Net

Operating lease right-of-use assets, net consisted of the following:


	March 31, 2024	March 31, 2023
	(in thousands)
Operating lease right-of-use assets	85,166	85,408
Less: accumulated amortization	(36,272)	(29,330)
Operating lease right-of-use assets, net	48,894	56,078

Internal-Use Software, Net

Internal-use software, net consisted of the following:


	March 31, 2024		March 31, 2023
	(in thousands)
Capitalized internal-use software	$	35,918	$	25,180
Less: accumulated amortization	(15,402)		(9,519)
Internal-use software, net	$	20,516	$	15,661

During the fiscal years ended March 31, 2024, 2023, and 2022, the Company capitalized $12.1 million, $10.8 million, and $5.7 million respectively, in internal-use software, including $3.6 million, $3.2 million, and $1.2 million, respectively, of stock-based compensation expense. For the fiscal years ended March 31, 2024, 2023 and 2022, amortization and impairment of internal-use software was $6.3 million, $4.8 million and $2.9 million, respectively.

In addition, during the fiscal year ended March 31, 2024, the Company wrote-off $1.1 million of internal-use software related to the disposition of Lemonaid Health Limited; refer to Note 19, “Disposition of Subsidiary” for additional information. During the fiscal years ended March 31, 2024, 2023, and 2022, the Company recorded immaterial impairment charges related to internal-use software that will not be utilized in the future.

Intangible Assets, Net

Intangible assets, net consisted of the following:


	March 31, 2024
	Weighted Average Remaining Useful Life (Years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(in thousands, except years)
Customer relationships	0.0	$	14,900	$	(14,900)	$	—
Partnerships	7.6	9,000		(2,175)		6,825
Trademark	2.6	11,000		(5,317)		5,683
Developed technology	4.6	24,100		(8,320)		15,780
Non-compete agreements	2.6	2,800		(1,353)		1,447
Patents	4.5	5,500		(1,980)		3,520
Total intangible assets		$	67,300	$	(34,045)	$	33,255


	March 31, 2023
	Weighted Average Remaining Useful Life (Years)	Gross Carrying Amount		Accumulated Amortization		Cumulative Impairment Charge		Cumulative Currency Translation		Net Carrying Amount
	(in thousands, except years)
Customer relationships	0.6	$	14,900	$	(10,554)	$	—	$	—	$	4,346
Partnerships	8.6	23,200		(4,385)		(9,968)		(1,122)		7,725
Trademark	3.6	11,000		(3,117)		—		—		7,883
Developed technology	5.6	24,100		(4,877)		—		—		19,223
Non-compete agreements	3.6	2,800		(793)		—		—		2,007
Patents	5.5	5,500		(1,164)		—		—		4,336
Total intangible assets		$	81,500	$	(24,890)	$	(9,968)	$	(1,122)	$	45,520

Amortization expense for intangible assets was $12.3 million, $17.3 million and $7.6 million for the fiscal years ended March 31, 2024, 2023 and 2022, respectively.

During the third quarter of the fiscal year ended March 31, 2023, due to decreased revenue associated with a delayed product launch and margin forecasts for the U.K. partnership business, the Company performed an interim quantitative impairment test for the U.K. partnership asset group as of December 31, 2022. The fair value of the asset group was calculated using a discounted cash flow and was determined to be lower than its carrying value. As a result, the Company recorded a $10.0 million impairment charge to write down the value of the partnership intangible asset to its estimated fair value. The charge was recorded within sales and marketing expenses in its Consumer and Research Services segment in the consolidated statements of operations and comprehensive loss. There was no impairment to intangible assets during the years ended March 31, 2024 and March 31, 2022.

Estimated future amortization expense of the identified intangible assets as of March 31, 2024 was as follows:


	Estimated Amortization
	(in thousands)
Fiscal years ending March 31,
2025	$	7,919
2026	7,919
2027	6,769
2028	5,006
2029	3,176
Thereafter	2,466
Total estimated future amortization expense	$	33,255

Goodwill

The following table presents the changes in the carrying amount of goodwill for the Consumer and Research Services reporting unit:


	Carrying Amount
	(in thousands)
As of March 31, 2023	$	351,744
Less: Impairment	(351,744)
As of March 31, 2024	$	—

In connection with its annual goodwill impairment assessment as of January 1, 2024, the Company identified a sustained decline in market capitalization, based on the Company’s publicly quoted share price, lower than expected financial performance and macroeconomic conditions that existed as of December 31, 2023. The Company performed an impairment assessment of goodwill acquired as part of the Lemonaid Health acquisition. The valuation of goodwill is a Level 3 non-recurring fair value measurement determined by utilizing the income approach (discounted cash flow method) corroborated by the market approach (guideline public company method). The Company recognized a non-cash, pre-tax goodwill impairment charge of $198.8 million as of December 31, 2023.

Subsequent to the annual impairment testing, in connection with the preparation of the financial statements for the year ended March 31, 2024, the Company identified a further sustained decline in market capitalization, based on our publicly quoted share price, requiring an interim impairment test of goodwill as of March 31, 2024. The Company performed an interim step one quantitative test for its Consumer and Research Services segment and determined that the estimated fair value of the reporting unit was less than its carrying value. The Company utilized the market approach to perform its goodwill impairment test as of March 31, 2024. Based on the result of interim goodwill impairment test as of March 31, 2024, the Company recorded an additional non-cash, pre-tax goodwill impairment charge of $152.9 million to write off the remaining balance of the Consumer and Research Services reporting unit’s goodwill, resulting in a total goodwill impairment charge of $351.7 million for the year ended March 31, 2024. As of March 31, 2024, the Company’s goodwill was fully impaired and no balance remained.

For the year ended March 31, 2024, the goodwill impairment charges were included in the consolidated statements of operations and comprehensive loss in the Consumer and Research Services segment. There were no impairment charges to goodwill for the fiscal years ended March 31, 2023 and 2022.

Accrued Expense and Other Current Liabilities

Accrued expense and other current liabilities consisted of the following:


	March 31, 2024		March 31, 2023
	(in thousands)
Accrued payables	$	12,957	$	17,030
Accrued compensation and benefits	4,266		5,898
Accrued vacation	7,221		8,839
Accrued bonus	7,420		21,600
Accrued clinical expenses	9,291		11,707
Accrued taxes and other	1,108		1,356
Total accrued expenses and other current liabilities	$	42,263	$	66,430

Balance Sheet Components - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 110,082	$ 113,924
Less: accumulated depreciation and amortization	(81,731)	(75,316)
Property and equipment, net	28,351	38,608
Computer equipment and software
Property Plant And Equipment [Line Items]
Property and equipment, gross	7,485	10,376
Laboratory equipment and software
Property Plant And Equipment [Line Items]
Property and equipment, gross	51,635	52,785
Furniture and office equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	8,929	8,946
Leasehold improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	41,180	40,964
Capitalized asset retirement obligations
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 853	$ 853

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Revenue:
Revenue	$ 219,638,000	$ 299,489,000	$ 271,893,000
Cost of revenue:
Total cost of revenue	120,261,000	164,993,000	138,948,000
Gross profit	99,377,000	134,496,000	132,945,000
Operating expenses:
Research and development (includes related party expenses of $12,771, $10,709 and $23,954, respectively)	205,361,000	222,596,000	189,377,000
Sales and marketing	85,600,000	119,927,000	100,338,000
General and administrative	129,772,000	115,984,000	97,383,000
Restructuring and other charges	8,368,000	0	0
Goodwill impairment	351,744,000	0	0
Total operating expenses	780,845,000	458,507,000	387,098,000
Loss from operations	(681,468,000)	(324,011,000)	(254,153,000)
Other income (expense):
Interest income, net	14,331,000	9,676,000	277,000
Change in fair value of warrant liabilities	0	0	32,989,000
Other income (expense), net	506,000	(93,000)	(83,000)
Loss before income taxes	(666,631,000)	(314,428,000)	(220,970,000)
Provision for (benefit from) income taxes	73,000	(2,772,000)	(3,480,000)
Net loss	(666,704,000)	(311,656,000)	(217,490,000)
Other comprehensive income (loss), net of tax	620,000	(799,000)	179,000
Total comprehensive loss	$ (666,084,000)	$ (312,455,000)	$ (217,311,000)
Net loss per share of Class A and Class B common stock attributable to common stockholders:
Basic (in usd per share)	$ (1.40)	$ (0.69)	$ (0.60)
Diluted (in usd per share)	$ (1.40)	$ (0.69)	$ (0.60)
Weighted-average shares used to compute net loss per share:
Basic (in shares)	475,982,265	451,504,377	361,528,119
Diluted (in shares)	475,982,265	451,504,377	361,528,119
Service
Revenue:
Revenue	$ 191,816,000	$ 265,840,000	$ 257,749,000
Cost of revenue:
Total cost of revenue	108,116,000	150,595,000	135,027,000
Product
Revenue:
Revenue	27,822,000	33,649,000	14,144,000
Cost of revenue:
Total cost of revenue	$ 12,145,000	$ 14,398,000	$ 3,921,000

Cover - USD ($) $ in Millions	12 Months Ended
Cover - USD ($) $ in Millions	Mar. 31, 2024	May 16, 2024	Sep. 29, 2023
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Mar. 31, 2024
Current Fiscal Year End Date	--03-31
Document Transition Report	false
Entity File Number	001-39587
Entity Registrant Name	23ANDME HOLDING CO.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-1240344
Entity Address, Address Line One	349 Oyster Point Boulevard
Entity Address, City or Town	South San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94080
City Area Code	650
Local Phone Number	938-6300
Title of 12(b) Security	Class A common stock, $0.0001 par value per share
Trading Symbol	ME
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 300
Entity Central Index Key	0001804591
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false
Documents Incorporated by Reference	Portions of the Registrant’s definitive proxy statement to be delivered to stockholders in connection with the 2024 annual meeting of stockholders are incorporated by reference in response to Part III of this Annual Report on Form 10-K to the extent stated herein. The 2024 Proxy Statement will be filed with the U.S. Securities and Exchange Commission within 120 days after the end of the fiscal year to which this report relates.
Common Stock Class A
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		323,542,807
Common Stock Class B
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		166,714,362

Acquisition - Schedule of Unaudited Pro Forma Revenue and Net Loss Information (Details) (Details) $ in Thousands	12 Months Ended
	Mar. 31, 2022 USD ($)
Business Combinations [Abstract]
Pro forma revenue	$ 295,025
Pro forma net loss	$ (241,382)

Income Taxes (Tables)

12 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Loss Before Provision For (benefit from) Income Taxes

The components of the Company’s loss before income taxes are summarized as follows:


	Year Ended March 31,
	2024		2023		2022
	(in thousands)
Domestic	$	(663,740)	$	(292,730)	$	(221,212)
Foreign	(2,891)		(21,698)		242
Loss before income taxes	$	(666,631)	$	(314,428)	$	(220,970)

Schedule of Reconciliation of Income Tax (Benefit)

A reconciliation of income tax (benefit) computed at the statutory federal tax rate to the effective income tax rate is summarized as follows:


	Year Ended March 31,
	2024		2023		2022
Statutory federal tax expense rate	21	%	21	%	21	%
Non-deductible stock-based compensation	(3	%)	(4	%)	(3	%)
Fair Market Value adjustment on Warrants	—	%	—		3	%
Change in valuation allowance related to acquisition	—	%	—		2	%
Goodwill impairment	(11	%)	—	%	—	%
Change in valuation allowance	(6	%)	(16	%)	(20	%)
Other	(1	%)	—		(2	%)
Effective tax rate	—	%	1	%	2	%

Schedule of Deferred Tax Asset and Liabilities

The components of the Company's deferred tax assets and liabilities as of March 31, 2024 and 2023 were as follows:


	March 31,
	2024		2023
	(in thousands)
Deferred tax assets:
Net operating loss carryforwards	$	280,549	$	262,295
Capitalized research and development expenses	48,027		33,709
Accruals and reserves	4,237		3,865
Stock-based compensation	13,397		18,065
Deferred revenue	17,570		11,498
Operating lease liabilities	17,966		21,474
Property and equipment	1,192		—
Capital loss carryover	5,109		—
Other	303		332
Gross deferred tax assets	388,350		351,238
Valuation allowance	(364,871)		(322,104)
Total deferred tax assets	23,479		29,134
Deferred tax liabilities:
Prepaid expenses	(783)		(892)
Intangibles	(11,215)		(13,689)
Operating lease right-of-use assets	(11,481)		(14,117)
Property and equipment	—		(436)
Gross deferred tax liabilities	(23,479)		(29,134)
Net deferred taxes	$	—	$	—

Stockholders' Equity - Additional Information (Detail) $ / shares in Units, $ in Thousands								1 Months Ended	12 Months Ended
	Feb. 06, 2023 USD ($)	Dec. 22, 2021 USD ($) shares	Nov. 22, 2021 $ / shares	Nov. 01, 2021 shares	Jul. 08, 2021 d shares	Jun. 16, 2021 Vote $ / shares shares	Jun. 16, 2021 Vote $ / shares shares	Nov. 30, 2021 shares	Mar. 31, 2024 USD ($) $ / shares shares	Mar. 31, 2023 USD ($) $ / shares shares	Mar. 31, 2022 USD ($) shares	Jun. 15, 2021 class_of_stock shares	Mar. 31, 2021 shares	Feb. 04, 2021 shares
Class Of Stock [Line Items]
Preferred stock, convertible, conversion ratio												1
Number of classes of authorized common stock \| class_of_stock												3
Common stock, shares authorized (in shares)						1,490,000,000	1,490,000,000
Common stock, par value (in usd per share) \| $ / shares						$ 0.0001	$ 0.0001		$ 0.0001	$ 0.0001
Common stock, convertible, conversion ratio						1	1
Warrant redemption, trading days \| d					10
Fractional shares issued upon exercise of warrants (in shares)					0
Class of warrants or rights redemption price per warrant (in usd per share) \| $ / shares			$ 0.10
Redeemed warrants (in shares)		1,164,142
Warrants outstanding (in shares)									0	0
Change in fair value of warrant liabilities \| $									$ 0	$ 0	$ (32,989)
Preferred stock, shares authorized (in shares)									10,000,000	10,000,000
Preferred stock, par value (in usd per share) \| $ / shares									$ 0.0001	$ 0.0001
Preferred stock, shares issued (in shares)									0	0
Preferred stock, shares outstanding (in shares)									0	0
Cowen And Company LLC
Class Of Stock [Line Items]
Commission fees payable, percentage	3.00%
At-the Market Offering Program
Class Of Stock [Line Items]
Sale of stock aggregate (up to) \| $	$ 150,000
Public Warrants and Private Placement Warrants
Class Of Stock [Line Items]
Warrants exercised (in shares)		23,901,466
Percentage of outstanding warrants exercised		95.00%
Maximum
Class Of Stock [Line Items]
Class of warrants or rights redemption price per warrant (in usd per share) \| $ / shares			0.10
Additional Paid-In Capital
Class Of Stock [Line Items]
Change in fair value of warrant liabilities \| $		$ 42,400								$ 33,000
Redeemable Convertible Preferred Stock
Class Of Stock [Line Items]
Redeemable convertible preferred stock, shares, outstanding (in shares)									0	0	0
Common Stock Class B
Class Of Stock [Line Items]
Exchange ratio						2.293698169	2.293698169
Convertible preferred stock, shares issued (in shares)													209,181,855
Common stock, shares outstanding (in shares)									166,724,586	168,179,488
Common stock, shares authorized (in shares)						350,000,000	350,000,000		350,000,000	350,000,000
Common stock, par value (in usd per share) \| $ / shares						$ 0.0001	$ 0.0001
Number of votes \| Vote						10	10
Common stock, shares issued (in shares)									166,724,586	168,179,488
Common Stock Class B \| VG Acquisition Sponsor LLC
Class Of Stock [Line Items]
Common stock, shares outstanding (in shares)														3,814,125
Common Stock Class C
Class Of Stock [Line Items]
Common stock, shares outstanding (in shares)												0
Common Stock Class A
Class Of Stock [Line Items]
Exchange ratio							2.293698169
Common stock, shares outstanding (in shares)									323,394,807	293,020,474
Common stock, shares authorized (in shares)						1,140,000,000	1,140,000,000		1,140,000,000	1,140,000,000
Common stock, par value (in usd per share) \| $ / shares						$ 0.0001	$ 0.0001
Number of votes \| Vote						1	1
Warrants exercise price (in usd per share) \| $ / shares			11.50
Exchange ratio for shares of Class A common stock per warrant \| $ / shares			$ 0.2516
Common stock, shares issued (in shares)		6,016,327							323,394,807	293,020,474
Common Stock Class A \| Lemonaid Health, Inc.
Class Of Stock [Line Items]
Consideration transferred, common stock (in shares)				26,825,241
Common stock granted subject to vest (in shares)				3,747,027				3,747,027
Common Stock Class A \| Private Placement Warrants
Class Of Stock [Line Items]
Number of days after the completion of an initial business combination							30 days
Class of warrants or rights redemption price per warrant (in usd per share) \| $ / shares						$ 10.00	$ 10.00
Trading days							10 days
Common Stock Class A \| Public Warrants
Class Of Stock [Line Items]
Warrant redemption, stock price trigger (in usd per share) \| $ / shares							$ 18.00
Common Stock Class A \| VG Acquisition Sponsor LLC
Class Of Stock [Line Items]
Warrants expiration						5 years	5 years
Common Stock Class A \| VG Acquisition Sponsor LLC \| Private Placement Warrants
Class Of Stock [Line Items]
Warrants assumed (in shares)						8,113,999	8,113,999
Warrants exercise price (in usd per share) \| $ / shares						$ 11.50	$ 11.50
Common Stock Class A \| VG Acquisition Sponsor LLC \| Public Warrants
Class Of Stock [Line Items]
Warrants assumed (in shares)						16,951,609	16,951,609
Warrants exercise price (in usd per share) \| $ / shares						$ 11.50	$ 11.50
Common Stock Class A \| Share Price Equals Or Exceeds Dollar Eighteen \| Public Warrants
Class Of Stock [Line Items]
Warrants exercise price (in usd per share) \| $ / shares						0.01	0.01
Warrant redemption, stock price trigger (in usd per share) \| $ / shares							$ 18.00
Class of warrants redemption notice period							30 days
Threshold consecutive trading days							20 days
Trading days							30 days
Common Stock Class A \| Share Price Less Than Dollar Eighteen And Greater Than Or Equals To Ten Point Zero Zero \| Public Warrants
Class Of Stock [Line Items]
Warrants exercise price (in usd per share) \| $ / shares						0.10	$ 0.10
Warrant redemption, stock price trigger (in usd per share) \| $ / shares							$ 10.00
Class of warrants redemption notice period							30 days
Common Stock Class A \| Share Price Less Than Dollar Eighteen And Greater Than Or Equals To Ten Point Zero Zero \| Minimum \| Public Warrants
Class Of Stock [Line Items]
Warrants exercise price (in usd per share) \| $ / shares						$ 18.00	$ 18.00

Income Taxes

12 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

Income Taxes

The components of the Company’s loss before income taxes are summarized as follows:


	Year Ended March 31,
	2024		2023		2022
	(in thousands)
Domestic	$	(663,740)	$	(292,730)	$	(221,212)
Foreign	(2,891)		(21,698)		242
Loss before income taxes	$	(666,631)	$	(314,428)	$	(220,970)

There has historically been no federal provision for income taxes because the Company has historically incurred operating losses and maintains a full valuation allowance against its net deferred tax assets. In the fiscal year ended March 31, 2024 the Company had an immaterial income tax provision. During the fiscal year ended March 31, 2023, the Company recognized a deferred foreign income tax benefit of $2.8 million related to the reversal of a deferred tax liability related to U.K. intangibles acquired in the Lemonaid Acquisition. During the fiscal year ended March 31, 2022, the Company recognized a deferred income tax benefit of $3.5 million related to the partial release of the valuation allowance for deferred tax assets due to the recognition of deferred tax liabilities in connection with the Lemonaid Acquisition.

A reconciliation of income tax (benefit) computed at the statutory federal tax rate to the effective income tax rate is summarized as follows:


	Year Ended March 31,
	2024		2023		2022
Statutory federal tax expense rate	21	%	21	%	21	%
Non-deductible stock-based compensation	(3	%)	(4	%)	(3	%)
Fair Market Value adjustment on Warrants	—	%	—		3	%
Change in valuation allowance related to acquisition	—	%	—		2	%
Goodwill impairment	(11	%)	—	%	—	%
Change in valuation allowance	(6	%)	(16	%)	(20	%)
Other	(1	%)	—		(2	%)
Effective tax rate	—	%	1	%	2	%

Deferred income taxes result from differences in the recognition of revenue and expenses for tax and financial reporting purposes, as well as operating loss and tax credit carryforwards. The components of the Company's deferred tax assets and liabilities as of March 31, 2024 and 2023 were as follows:


	March 31,
	2024		2023
	(in thousands)
Deferred tax assets:
Net operating loss carryforwards	$	280,549	$	262,295
Capitalized research and development expenses	48,027		33,709
Accruals and reserves	4,237		3,865
Stock-based compensation	13,397		18,065
Deferred revenue	17,570		11,498
Operating lease liabilities	17,966		21,474
Property and equipment	1,192		—
Capital loss carryover	5,109		—
Other	303		332
Gross deferred tax assets	388,350		351,238
Valuation allowance	(364,871)		(322,104)
Total deferred tax assets	23,479		29,134
Deferred tax liabilities:
Prepaid expenses	(783)		(892)
Intangibles	(11,215)		(13,689)
Operating lease right-of-use assets	(11,481)		(14,117)
Property and equipment	—		(436)
Gross deferred tax liabilities	(23,479)		(29,134)
Net deferred taxes	$	—	$	—

The Company maintains a full valuation allowance on the remaining net deferred tax assets of the U.S. entity as it is more likely than not that the Company will not realize the deferred tax assets. Utilization of net operating loss carryforwards may be subject to future annual limitations provided by Section 382 of the Code and similar state provisions.

As of March 31, 2024, the Company had $1.1 billion of federal and $693.7 million of state net operating loss carryforwards available to reduce future taxable income, which will begin to expire in 2026 for federal and state tax purposes. Included in the $1.1 billion carryover losses is $779.7 million of net operating losses with an indefinite life. The Company does not have any federal and state research and development tax credit carryforwards. As of March 31, 2024,

the Company has $21.8 million capital loss carryforward that will begin to expire in 2029. The change in the valuation allowance in the current year was an increase of $42.8 million primarily related to the increase of current year losses.

The Tax Reform Act of 1986 and similar California legislation impose substantial limitations on the utilization of net operating loss and tax credit carryforwards, if there is a change in ownership as provided by Section 382 of the Internal Revenue Code and similar state provisions. Such a limitation could result in the expiration of the net operating loss carryforwards and tax credits before utilization. We completed a Section 382 study through March 31, 2023 which did not identify any ownership changes which would limit our ability to utilize net operating losses or tax attributes prior to expiration. Further ownership changes subsequent to March 31, 2023 may be identified which could result in limitations to the amount of net operating losses and tax attributes which may be utilized prior to expiration.

Significant management judgment is required in determining the provision for income taxes and, in particular, any valuation allowance recorded against the Company’s deferred tax assets. The Company determined that, due to the Company’s cumulative tax loss history and the difficulty in forecasting the timing of future revenue, it was necessary to maintain a valuation allowance to the full amount of the deferred tax asset. The Company determined that it was not more-likely-than-not that the deferred tax asset would be utilized.

The Company had no unrecognized tax benefits for the fiscal years ended March 31, 2024, 2023 and 2022.

The Company’s policy is to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. During the fiscal years ended March 31, 2024, 2023 and 2022, the Company recognized no interest and penalties associated with the unrecognized tax benefits. There are no tax positions for which it is reasonably possible that the total amount of unrecognized tax benefits will significantly increase or decrease within 12 months of the reporting date. If recognized, there would be no impact on the Company’s effective tax rate due to its valuation allowance.

The Company files income tax returns in the U.S. federal jurisdiction, various states, and the U.K. The Company is not currently under examination by income tax authorities in federal, state, or other jurisdictions. All tax returns will remain open for examination by the federal and state authorities for three and four years, respectively, from the date of utilization of any net operating loss or credits.

In 2021, the Organization for Economic Cooperation and Development developed guidance on Base Erosion and Profit Sharing Pillar Two Model Rules (“Pillar Two”), which addresses corporate tax planning strategies used by some large multinational corporations to shift profits from higher-tax jurisdictions to lower-tax jurisdictions or zero-tax locations. This guidance imposes a 15% minimum tax on the earnings of large multinational corporations. The Company does not currently operate in any jurisdictions in which Pillar Two is expected to be effective in 2024. The Company does not expect these rules to have a significant impact on its effective tax rate or its consolidated financial statements.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Summary of Significant Accounting Policies - Schedule of Estimated Useful Lives of Property, Plant and Equipment (Details)	Mar. 31, 2024
Computer equipment and software
Property Plant And Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Laboratory equipment and software
Property Plant And Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Furniture and office equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, useful life	5 years

Net Loss Per Share Attributable to Common Stockholders (Tables)

12 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Net Loss Per Share

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the periods presented:


	Year Ended March 31,
	2024				2023				2022
	Class A		Class B		Class A		Class B		Class A		Class B
	(in thousands, except share and per share data)
Numerator:
Net loss attributable to common stockholders	$	(431,876)	$	(234,828)	$	(185,112)	$	(126,544)	$	(68,620)	$	(148,870)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	308,330,435		167,651,830		268,177,185		183,327,192		114,064,921		247,463,198
Net loss per share attributable to common stockholders:
Net loss per share attributable to common stockholders, basic and diluted	$	(1.40)	$	(1.40)	$	(0.69)	$	(0.69)	$	(0.60)	$	(0.60)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share


	Year Ended March 31,
	2024	2023	2022
Outstanding stock options	70,739,770	68,050,752	73,609,565
Unvested restricted stock units	44,056,670	26,562,566	10,676,378
Shares subject to vesting	—	2,576,082	3,512,839
2022 AIP RSUs	13,116,407	8,460,836	—
ESPP	2,561,500	2,937,194	2,239,756
Total	130,474,347	108,587,430	90,038,538

Variable Interest Entities	12 Months Ended
Variable Interest Entities	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities Through the Lemonaid Acquisition in November 2021, the Company has service agreements with PMCs and Affiliated Pharmacies. In order for customers to obtain a prescription, customers must complete a consultation through the Company’s website or app with an appropriately licensed medical provider from one of the PMCs. A customer will receive an electronic prescription that will be sent to an Affiliated Pharmacy, or a pharmacy of the customer’s choice, only if the medical provider believes such medical treatment of the customer is safe and appropriate. On February 15, 2024, the Company acquired the active Affiliated Pharmacies. These Affiliated Pharmacies are 100% wholly owned by the Company and no longer treated as Variable Interest Entities. There was no impact to the Company’s consolidated financial statements as a result of these entities being acquired by the Company. The Company provides services pursuant to contracts with the PMCs which employ licensed medical providers to provide telehealth medical services. The PMCs were designed and structured to comply with the relevant laws and regulations governing professional medical practice, which generally prohibit the practice of medicine by lay persons or corporations. To satisfy these regulatory requirements, all of the issued and outstanding equity interests of the PMCs are owned by an appropriately licensed medical professional nominated by the Company (the “Nominee Shareholder”). The Company executes with each PMC a Management Services & Licensing Agreement (“MSA”), which provides for various administrative, technological, and management services to be provided by the Company to the PMCs, licenses certain Company intellectual property to the PMC, and gives the Company rights to impose certain restrictions and conditions of ownership or transfer of the PMC equity by the Nominee Shareholder. The Company provides all of the necessary capital for the operations of the PMCs through loans to the PMCs. The Company also has exclusive responsibility for the provision of all nonmedical services including operation of all technology platforms used by the PMCs or customers to complete a medical consultation with a Provider, handling all financial transactions and day-to-day operations of each PMC, providing regulatory guidance to the PMCs in establishing telehealth policies and protocols consistent with state and federal law, and making recommendations to the PMCs in establishing the guidelines for employment and compensation of the medical professionals of each PMC. In addition, the MSA provides that the Company has the power and authority to change the Nominee Shareholder upon termination of the MSA, including for convenience upon 180 days prior notice, or other enumerated events, and designate a new Nominee Shareholder, which further constrains the Nominee Shareholder’s rights to returns of the PMC. The Nominee Shareholders, notwithstanding their legal form of ownership of equity interests in the PMCs, have no substantive profit-sharing rights in the PMCs. The Company has also entered into similar MSAs with the Affiliated Pharmacies. The Affiliated Pharmacies are licensed pharmacies primarily responsible for providing prescription fulfillment services to the Company’s customers. The Company provides management and administrative services to the Affiliated Pharmacies comparable to the services it provides to the PMCs, except that the Company is the sole provider of professional staffing services required to operate the Affiliated Pharmacies. Under the terms of the MSAs with the Affiliated Pharmacies, the Nominee Shareholders, notwithstanding their legal form of ownership of equity interests in the Affiliated Pharmacies, have no substantive profit-sharing rights in the Affiliated Pharmacies. Based upon the provisions of these agreements, the Company determined that the PMCs and Affiliated Pharmacies are VIEs (the Affiliated Pharmacies were VIEs through February 15, 2024) due to the respective equity holders having nominal capital at risk, and the Company has a variable interest in each of the PMCs and Affiliated Pharmacies. The Company consolidated the PMCs and Affiliated Pharmacies under the VIE model since the Company has the power to direct activities that most significantly impact the VIEs’ economic performance and the right to receive benefits or the obligation to absorb losses that could potentially be significant to the VIEs. Under the VIE model, the Company presents the results of operations and the financial position of the VIEs as part of the consolidated financial statements of the Company. Furthermore, as a direct result of the financial support the Company provides to the VIEs (e.g., loans), the interests held by holders lack economic substance and do not provide them with the ability to participate in the residual profits or losses generated by the VIEs. Therefore, all income and expenses recognized by the VIEs are allocated to the Company’s stockholders. The aggregate carrying value of total assets and total liabilities included on the consolidated balance sheets for the VIEs after elimination of intercompany transactions were not material as of March 31, 2024 and 2023. Total revenue included on the consolidated statements of operations and comprehensive loss for the VIEs after elimination of intercompany transactions was $30.2 million and $40.2 million for the fiscal years ended March 31, 2024 and 2023, respectively. Net loss attributable to the VIEs included on the consolidated statements of operations and comprehensive loss was $10.8 million and $14.0 million for the fiscal years ended March 31, 2024 and 2023, respectively.

Commitments and Contingencies

12 Months Ended

Mar. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Non-cancelable Purchase Obligations

In the normal course of business, the Company enters into agreements containing non-cancelable purchase commitments for goods or services with various parties, which include agreements to purchase goods or services that are enforceable and legally binding to the Company. Recognition of purchase obligations occurs when products or services are delivered to the Company, generally within accounts payable, or accrued and other current liabilities. As of March 31, 2024, the Company had outstanding non-cancelable purchase obligations with a term of 12 months or longer that have not been recognized on its balance sheet as follows:


	As of March 31, 2024
	(in thousands)
Fiscal years ending March 31,
2025	$	11,740
2026	3,458
2027	1,900



Total	$	17,098

The amounts purchased under agreements with non-cancelable purchase obligations with a term of 12 months or longer were $26.2 million, $29.9 million and $34.7 million for the fiscal years ended March 31, 2024, 2023 and 2022, respectively.

Legal Matters

Cybersecurity Incident

On October 10, 2023, the Company reported that certain information was accessed from individual 23andMe.com accounts without the account users’ authorization (the “incident”).

The Company incurred $4.6 million in expenses related to the incident, offset by $2.8 million of probable insurance recoveries, during the fiscal year ended March 31, 2024, primarily consisting of technology consulting services, legal fees, and expenses of other third-party advisors. While the Company believes the investigation into this incident is complete, the Company may become aware of new or different information or information that differs from that contained in these financial statements.

As a result of the incident, multiple class action claims have been filed against the Company in federal and state courts in California, as well as in other U.S. and international jurisdictions, and the Company has received demand letters from attorneys purporting to represent customers seeking arbitration claims. The Company is also responding to inquiries from various governmental officials and agencies. Although the federal class action claims have been consolidated, as of the filing date of these financial statements, a lead plaintiffs’ counsel has not yet been appointed and the initial status conference for the consolidated case is scheduled for June 3, 2024.

The Company believes that a loss contingency related to this incident is reasonably possible and estimates that the low-end of the range of possible loss, net of probable insurance recoveries would be immaterial as of March 31, 2024. Given the litigation is at an early stage, the Company cannot reliably estimate the upper end of the range of possible loss that may be incurred, which may be material. The Company will continue to evaluate information as it becomes known, and it is possible that future results of operations or cash flows for any particular interim or annual period could be materially affected by unfavorable resolutions of this matter.

Indemnification

The Company enters into indemnification provisions under agreements with other companies in the ordinary course of business, including, but not limited to, collaborators, landlords, vendors, and contractors. Pursuant to these arrangements, the Company agrees to indemnify, defend, and hold harmless the indemnified party for certain losses suffered or incurred by the indemnified party as a result of the Company’s activities. The maximum potential amount of future payments the Company could be required to make under these agreements is not determinable. The Company has never incurred costs to defend lawsuits or settle claims related to these indemnification provisions. As a result, the Company believes the fair value of these provisions is not material. The Company maintains insurance, including commercial general liability insurance and product liability insurance, to offset certain potential liabilities under these indemnification provisions. In addition, the Company indemnifies its officers, directors, and certain key employees against claims made with respect to matters that arise while they are serving in their respective capacities as such, subject to certain limitations set forth under applicable law, the Company’s Bylaws, and applicable indemnification agreements. As of March 31, 2024, the Company was not aware of any known events or circumstances that have resulted in a material claim related to these indemnification obligations.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Balance Sheet Components - Summary of Future Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
2025	$ 7,919
2026	7,919
2027	6,769
2028	5,006
2029	3,176
Thereafter	2,466
Net Carrying Amount	$ 33,255	$ 45,520

Balance Sheet Components - Schedule of Internal Use Software, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Capitalized internal-use software	$ 35,918	$ 25,180
Less: accumulated amortization	(15,402)	(9,519)
Internal-use software, net	$ 20,516	$ 15,661

Acquisition - Additional Information (Details) - USD ($)		12 Months Ended
	Nov. 01, 2021	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022	May 31, 2023
Business Acquisition [Line Items]
Escrow deposit					$ 6,000,000
Amortization of intangible assets		$ 12,300,000	$ 17,300,000	$ 7,600,000
Goodwill		0	351,744,000
Net deferred taxes		0	0
Income tax benefit		73,000	(2,772,000)	(3,480,000)
Lemonaid Health, Inc.
Business Acquisition [Line Items]
Purchase consideration	$ 424,700,000
Consideration transferred, stock awards, vested	8,400,000
Aggregate cash consideration for acquisition	101,900,000
Escrow deposit	$ 13,000,000
Purchase price excludes stock consideration shares issued subject to vest	3,747,027
Acquisition costs	$ 9,400,000
Amortization of intangible assets		$ 11,400,000	$ 16,500,000	7,300,000
Goodwill	351,598,000
Net deferred taxes	6,600,000
Income tax benefit				3,500,000
Foreign deferred tax liability				3,100,000
Revenue recognized				19,200,000
Net loss				$ 22,300,000
Lemonaid Health, Inc. \| Consumer and Research Services
Business Acquisition [Line Items]
Goodwill	351,700,000
Goodwill, expected tax deductible amount	$ 0
Lemonaid Health, Inc. \| Common Stock Class A
Business Acquisition [Line Items]
Consideration transferred, common stock (in shares)	26,825,241
Purchase consideration stock value	$ 314,400,000
Lemonaid Health, Inc. \| Minimum
Business Acquisition [Line Items]
Useful lives	2 years
Lemonaid Health, Inc. \| Maximum
Business Acquisition [Line Items]
Useful lives	7 years

Net Loss Per Share Attributable to Common Stockholders - Additional Information (Detail) - $ / shares	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Dividends paid in shares	$ 0	$ 0	$ 0

Retirement Benefit Plans	12 Months Ended
Retirement Benefit Plans	Mar. 31, 2024
Retirement Benefits [Abstract]
Retirement Benefit Plans	Retirement Benefit Plans The Company has established a 401(k) retirement plan that allows participating employees in the U.S. to contribute as defined by the plan and is subject to limitations under Section 401(k) of the Internal Revenue Code of 1986, as amended. The Company matches the greater of 100% of the first 2% or 100% of the first $2,300 (subject to annual compensation and contribution limits) of employee contributions. The Company recognized matching contributions cost of $2.7 million, $2.6 million and $1.7 million for the fiscal years ended March 31, 2024, 2023 and 2022, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Subparagraph (o)
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Section 50
-Paragraph 1
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

Acquisition - Schedule of Consideration Transferred to Acquired Identifiable Assets and Assumed Liabilities (Details) - USD ($)	Mar. 31, 2024	Mar. 31, 2023	Nov. 01, 2021
Business Acquisition [Line Items]
Goodwill	$ 0	$ 351,744,000
Lemonaid Health, Inc.
Business Acquisition [Line Items]
Cash			$ 7,711,000
Prepaid expenses and other current assets			3,388,000
Property and equipment, net			1,019,000
Operating lease right-of-use asset			848,000
Other assumed assets			407,000
Accounts payable			(3,106,000)
Accrued liabilities			(4,218,000)
Operating lease liability			(971,000)
Deferred tax liability			(6,645,000)
Other assumed liabilities			(1,311,000)
Total acquired identifiable assets and liabilities			73,122,000
Goodwill			351,598,000
Total consideration transferred			424,720,000
Lemonaid Health, Inc. \| Customer relationships
Business Acquisition [Line Items]
Intangible Assets			14,900,000
Lemonaid Health, Inc. \| Partnerships
Business Acquisition [Line Items]
Intangible Assets			23,200,000
Lemonaid Health, Inc. \| Trademark
Business Acquisition [Line Items]
Intangible Assets			11,000,000
Lemonaid Health, Inc. \| Developed technology
Business Acquisition [Line Items]
Intangible Assets			24,100,000
Lemonaid Health, Inc. \| Non-compete agreements
Business Acquisition [Line Items]
Intangible Assets			$ 2,800,000

Equity Incentive Plans and Stock-Based Compensation - Summary of the Value Stock Options and ESPP Assumptions (Details)	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
ESPP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility rate, minimum	67.00%	78.00%	77.00%
Expected volatility rate, maximum	99.00%	109.00%	86.00%
Expected weighted-average volatility	70.00%	96.00%	82.00%
Risk free interest rate, minimum	4.90%	3.30%	0.60%
Risk free interest rate, maximum	5.50%	5.20%	0.90%
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility rate, minimum	78.00%	76.00%	72.00%
Expected volatility rate, maximum	79.00%	81.00%	75.00%
Expected weighted-average volatility	79.00%	79.00%	74.00%
Risk free interest rate, minimum	3.60%	2.80%	1.00%
Risk free interest rate, maximum	4.40%	4.20%	2.50%
Minimum \| ESPP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (years)	6 months	6 months	6 months
Expected dividend yield	0.00%	0.00%	0.00%
Minimum \| Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (years)	5 years 9 months 18 days	6 years	3 years 3 months 18 days
Expected dividend yield	0.00%	0.00%	0.00%
Maximum \| ESPP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (years)	1 year	1 year	1 year
Expected dividend yield	0.00%	0.00%	0.00%
Maximum \| Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (years)	6 years	6 years 9 months 18 days	6 years 1 month 6 days
Expected dividend yield	0.00%	0.00%	0.00%

Fair Value Measurements - Additional Information (Details) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value transfers between levels	$ 0		$ 0	$ 0
Goodwill impairment	152,900,000	$ 198,800,000	351,744,000	0	$ 0
Goodwill	$ 0		$ 0	351,744,000
Fair Value Nonrecurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment charge				$ 10,000,000

- Definition

+ References + Details

Equity Incentive Plans and Stock-Based Compensation - Summary of the Restricted Stock Units (Details) - Restricted Stock Units	12 Months Ended
	Mar. 31, 2024 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance (in shares) \| shares	26,562,566
Granted (in shares) \| shares	50,324,367
Vested (in shares) \| shares	(21,703,098)
Cancelled/forfeited (in shares) \| shares	(11,127,165)
Ending balance (in shares) \| shares	44,056,670
Weighted-Average Grant Date Fair Value Per Share
Beginning balance (in usd per share) \| $ / shares	$ 4.73
Granted (in usd per share) \| $ / shares	1.67
Vested (in usd per share) \| $ / shares	3.14
Cancelled/forfeited (in usd per share) \| $ / shares	3.66
Ending balance (in usd per share) \| $ / shares	$ 2.29

Fair Value Measurements - Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis (Details) - Fair Value Recurring - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	$ 211,000	$ 372,000
Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	211,000	372,000
Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	0	0
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	0	0
Money market funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	211,000	372,000
Money market funds \| Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	211,000	372,000
Money market funds \| Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	0	0
Money market funds \| Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total financial assets	$ 0	$ 0

Segment Information

12 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Segment Information

The Company currently operates in two reporting segments: (1) Consumer and Research Services, and (2) Therapeutics. The Consumer and Research Services segment consists of revenue and expenses from PGS and telehealth, as well as research services revenue and expenses from certain collaboration agreements (including the original GSK Agreement). The Therapeutics segment consists of revenues from the out-licensing of intellectual property associated with identified drug targets and expenses related to therapeutic product candidates under clinical development. Substantially all of the Company’s revenues are derived from the Consumer and Research Services segment. See Note 5 “Revenue” for additional information. There are no inter-segment sales.

Certain department expenses such as Finance, Legal, Regulatory and Supplier Quality, Corporate Communications, Corporate Development, and CEO Office are not reported as part of the reporting segments as reviewed by the CODM (as defined below). These amounts are included in Unallocated Corporate in the reconciliations below. The

chief operating decision-maker (“CODM”) is the Chief Executive Officer (“CEO”). The CODM evaluates the performance of each segment based on Adjusted EBITDA. Adjusted EBITDA is a non-GAAP financial measure that is defined as net income (loss) before net interest income (expense), net other income (expense), income tax expenses (benefit), depreciation and amortization, impairment charges, stock-based compensation expense, and other items that are considered unusual or not representative of underlying trends of the Company’s business, including but not limited to: changes in fair value of warrant liabilities, litigation settlements, gains or losses on dispositions of subsidiaries, acquisition transaction-related costs, and cybersecurity incident expenses, net of probable insurance recoveries, if applicable for the periods presented.

Adjusted EBITDA is a key measure used by the Company’s management and Board of Directors to understand and evaluate the Company’s operating performance and trends, to prepare and approve the annual budget, and to develop short-term and long-term operating plans.

The Company’s revenue and Adjusted EBITDA by segment is as follows:


	Year Ended March 31,
	2024		2023		2022
	(in thousands)
Segment Revenue: (1)
Consumer and Research Services	$	219,638	$	299,489	$	271,893
Total revenue	$	219,638	$	299,489	$	271,893
Segment Adjusted EBITDA:
Consumer and Research Services Adjusted EBITDA	$	(36,769)	$	(17,997)	$	(30,112)
Therapeutics Adjusted EBITDA	(91,025)		(88,503)		(76,944)
Unallocated Corporate (2)	(48,002)		(54,801)		(43,684)
Total Adjusted EBITDA	$	(175,796)	$	(161,301)	$	(150,740)
Reconciliation of net loss to Adjusted EBITDA:
Net loss	$	(666,704)	$	(311,656)	$	(217,490)
Adjustments
Interest income, net	(14,331)		(9,676)		(277)
Other (income) expense, net	(506)		93		83
Change in fair value of warrant liabilities	—		—		(32,989)
Provision for (benefit from) income taxes	73		(2,772)		(3,480)
Depreciation and amortization	18,033		20,239		18,899
Amortization of acquired intangible assets	11,448		16,486		7,269
Impairment of acquired intangible assets	—		9,968		—
Stock-based compensation expense	120,209		116,017		57,933
Acquisition-related costs (3)	—		—		9,362
Litigation settlement, net (4)	98		—		9,950
Loss on disposition of Lemonaid Health Limited and transaction-related costs (5)	2,375		—		—
Goodwill impairment (6)	351,744		—		—
Cybersecurity incident expenses, net of probable insurance recoveries (7)	1,765		—		—
Total Adjusted EBITDA	$	(175,796)	$	(161,301)	$	(150,740)

(1)All product and service revenue is associated with the Consumer and Research Services segment and there was no Therapeutics revenue for the fiscal years ended March 31, 2024, 2023 and 2022.

(3)For the fiscal year ended March 31, 2022, acquisition-related costs primarily consisted of advisory, legal and consulting fees.

(5)Refer to Note 19, “Disposition of Subsidiary” for additional information.

(6)Refer to Note 10, “Balance Sheet Components — Goodwill” for additional information.

(7)Refer to Note 13, “Commitments and Contingencies — Cybersecurity Incident” for additional information.

Customers accounting for 10% or more of segment revenues were as follows:


	Year Ended March 31,
	2024				2023				2022
	(in thousands, except percentages)
Consumer and Research Services Segment Revenue:
Customer C (1) (2)	$	48,325	22	%	$	65,721	22	%	$	53,875	20	%
Customer B (3)	$	11,753	5	%	$	47,448	16	%	$	46,064	17	%

(1)Customer C is a reseller

(2)Customer C revenues are primarily in the United States.

(3)Customer B revenues are in the U.K.

Revenue from customers by service and by geographical region can be found in the revenue recognition disclosures in Note 5, “Revenue.” Substantially all of the Company’s property and equipment, net of depreciation and amortization, was located in the United States during the periods presented. The reporting segments do not present total assets as they are not reviewed by the CODM when evaluating their performance.

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Mar. 31, 2024

Accounting Policies [Abstract]

Summary of Significant Customer Information

Significant customer information is as follows:


	March 31, 2024		March 31, 2023
Percentage of accounts receivable:
Customer C (1)	59	%	69	%
Customer F	—	%	27	%
Customer I	30	%	—	%

(1) Customer C is a reseller


	Year Ended March 31,
	2024		2023		2022
Percentage of revenue:
Customer C (1)	22	%	22	%	20	%
Customer B	5	%	16	%	17	%

(1) Customer C is a reseller

Schedule of Estimated Useful Lives of Property, Plant and Equipment

The estimated useful lives of the Company’s property and equipment are as follows:


Computer equipment 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

Consolidated Balance Sheets - USD ($)	Mar. 31, 2024	Mar. 31, 2023
Current assets:
Cash and cash equivalents	$ 216,488,000	$ 386,849,000
Restricted cash	1,399,000	1,399,000
Accounts receivable, net	3,324,000	1,897,000
Inventories	12,465,000	10,247,000
Deferred cost of revenue	4,792,000	5,376,000
Prepaid expenses and other current assets	16,841,000	19,224,000
Total current assets	255,309,000	424,992,000
Property and equipment, net	28,351,000	38,608,000
Operating lease right-of-use assets, net	48,894,000	56,078,000
Restricted cash, noncurrent	6,974,000	6,974,000
Internal-use software, net	20,516,000	15,661,000
Intangible assets, net	33,255,000	45,520,000
Goodwill	0	351,744,000
Other assets	1,868,000	3,021,000
Total assets	395,167,000	942,598,000
Current liabilities:
Accounts payable (includes related party amounts of $3,809 and $3,186, respectively)	11,571,000	12,924,000
Accrued expenses and other current liabilities (includes related party amounts of $6,752 and $8,738, respectively)	42,263,000	66,430,000
Deferred revenue (includes related party amounts of $10,999 and $11,753, respectively)	64,827,000	62,521,000
Operating lease liabilities	8,670,000	7,541,000
Total current liabilities	127,331,000	149,416,000
Deferred revenue, noncurrent (includes related party amounts of $10,000 and nil, respectively)	10,000,000	0
Operating lease liabilities, noncurrent	67,845,000	77,763,000
Other liabilities	1,471,000	1,480,000
Total liabilities	206,647,000	228,659,000
Commitments and contingencies (Note 12)
Stockholders’ equity
Preferred stock — par value $0.0001, 10,000,000 shares authorized as of March 31, 2024 and 2023; zero shares issued and outstanding as of March 31, 2024 and 2023	0	0
Common stock, par value $0.0001 — Class A shares, 1,140,000,000 shares authorized, 323,394,807 and 293,020,474 shares issued and outstanding as of March 31, 2024 and March 31, 2023, respectively; Class B shares, 350,000,000 shares authorized, 166,724,586 and 168,179,488 shares issued and outstanding as of March 31, 2024 and 2023, respectively	49,000	46,000
Additional paid-in capital	2,361,559,000	2,220,897,000
Accumulated other comprehensive income (loss)	0	(620,000)
Accumulated deficit	(2,173,088,000)	(1,506,384,000)
Total stockholders’ equity	188,520,000	713,939,000
Total liabilities and stockholders’ equity	$ 395,167,000	$ 942,598,000

Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	2022 Annual Incentive Plan	A and R Plan	Preferred Stock Redeemable Convertible Preferred Stock	Common Stock	Common Stock 2022 Annual Incentive Plan	Common Stock A and R Plan	Additional Paid-In Capital	Additional Paid-In Capital 2022 Annual Incentive Plan	Additional Paid-In Capital A and R Plan	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning Balance, Shares (in shares) at Mar. 31, 2021				209,181,855	124,529,784
Beginning Balance at Mar. 31, 2021	$ (595,619)			$ 837,351	$ 12			$ 381,607			$ 0	$ (977,238)
Preferred stock conversion (in shares)				(209,181,855)	209,181,855
Preferred stock conversion	837,351			$ (837,351)	$ 21			837,330
Issuance of common stock upon Merger( in shares)					46,901,747
Issuance of common stock upon Merger (net of transaction costs of $33,726)	200,579				$ 5			200,574
Issuance of PIPE shares (related party amount of $25,000) (in shares)					25,000,000
Issuance of PIPE shares (related party amount of $25,000)	250,000				$ 3			249,997
Issuance of common stock upon exercise of stock options (in shares)					5,808,526
Issuance of common stock upon exercise of stock options	16,831							16,831
Issuance of common stock for acquisition of business (in shares)					30,572,268
Issuance of common stock for acquisition of business	322,845				$ 3			322,842
Issuance of common stock for Class A common stock warrant exercise (in shares)					6,016,347
Issuance of common stock for Class A common stock warrant exercise	42,356				$ 1			42,355
Issuance of common stock upon release of RSUs (in shares)					801,794
Stock-based compensation expense	58,624							58,624
Other comprehensive income (loss)	179										179
Net loss	(217,490)											(217,490)
Ending Balance, Shares (in shares) at Mar. 31, 2022				0	448,812,321
Ending Balance at Mar. 31, 2022	915,656			$ 0	$ 45			2,110,160			179	(1,194,728)
Issuance of common stock upon exercise of stock options (in shares)					2,748,796
Issuance of common stock upon exercise of stock options	4,203							4,203
Issuance of common stock upon release of RSUs (in shares)					7,062,152
Issuance of common stock upon release of RSUs	0				$ 1			(1)
Net share settlements for stock-based minimum tax withholdings (in shares)					(65,620)
Net share settlements for stock-based minimum tax withholdings	(197)							(197)
Issuance of common stock under employee stock purchase plan (in shares)					2,642,313
Issuance of common stock under employee stock purchase plan	6,463							6,463
Stock-based compensation expense	100,269							100,269
Other comprehensive income (loss)	(799)										(799)
Net loss	(311,656)											(311,656)
Ending Balance, Shares (in shares) at Mar. 31, 2023					461,199,962
Ending Balance at Mar. 31, 2023	$ 713,939				$ 46			2,220,897			(620)	(1,506,384)
Issuance of common stock upon exercise of stock options (in shares)	2,082,713				2,082,713
Issuance of common stock upon exercise of stock options	$ 909							909
Issuance of common stock upon release of RSUs (in shares)						9,019,049	12,684,049
Issuance of common stock upon release of RSUs		$ 18,730	$ 0			$ 1	$ 1		$ 18,729	$ (1)
Net share settlements for stock-based minimum tax withholdings (in shares)					(195,951)
Net share settlements for stock-based minimum tax withholdings	(230)							(230)
Issuance of common stock under employee stock purchase plan (in shares)					5,329,571
Issuance of common stock under employee stock purchase plan	3,263				$ 1			3,262
Stock-based compensation expense	117,993							117,993
Other comprehensive income (loss)	620										620
Net loss	(666,704)											(666,704)
Ending Balance, Shares (in shares) at Mar. 31, 2024					490,119,393
Ending Balance at Mar. 31, 2024	$ 188,520				$ 49			$ 2,361,559			$ 0	$ (2,173,088)

Collaborations	12 Months Ended
Collaborations	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Collaborations	Collaborations GlaxoSmithKline Agreement and Subsequent Amendments In July 2018, the Company and an affiliate of GSK entered into a four-year exclusive drug discovery and development collaboration agreement, amended in 2019 and 2021, respectively (collectively the “original GSK Agreement”) for collaboration on identification and development of therapeutic agents with a unilateral option for GSK to extend the term for an additional year. In January 2022, GSK elected to exercise the option to extend the exclusive target discovery term for an additional year to July 2023. In October 2022, the Company received a one-time payment of $50.0 million from GSK in consideration of the exercise of the option pursuant to the original GSK Agreement. The exclusive drug discovery period under the original GSK Agreement expired on July 23, 2023. The Company has concluded that GSK is considered a customer. Therefore, the Company applied the guidance in ASC 606 to account for and present consideration received from GSK related to research services provided by the Company. The Company’s activities under the original GSK Agreement, which included reporting, drug target discovery, and joint steering committee participation, represented one combined performance obligation to deliver research services. The Company recognized research services revenue related to the original GSK Agreement as the respective performance obligations were satisfied using an input method to measure progress. In addition, the original GSK Agreement, provided GSK the right to include certain identified pre-existing Company programs in the collaboration at GSK’s election, each of which was considered distinct from the research services. Prior to the expiration of the original GSK Agreement, drug targets were identified for inclusion in the collaboration during the performance of research services. Cost sharing related to the performance of research services was recorded when incurred within cost of revenue in the Consumer and Research Services segment. For the drug targets that had been identified for inclusion in the original collaboration, the Company and GSK continue to equally share in the costs of further research, development, and commercialization of identified targets under the original GSK Agreement, subject to certain rights of either party to opt-out of funding at certain predetermined development milestones. These cost-sharing charges for the program costs incurred subsequent to the identification of drug targets have been included in research and development expense on the consolidated statements of operations and comprehensive loss during the period incurred. The Company may also share in the net profits or losses of products that are commercialized pursuant to the collaboration or receive royalties on products which are successfully commercialized. In October 2023, the Company entered into an amendment to the original GSK Agreement (the “2023 GSK Amendment”) to provide GSK with a non-exclusive license to certain new, de-identified, aggregated data included in the Company’s database (the “New Data”), as well as access to certain Company research services with respect to such New Data in return for a $20.0 million data access fee, which the Company received during the fiscal year ended March 31, 2024. The license to the New Data will expire one year from the date GSK provides the Company with a notice that GSK is ready to use the New Data, unless the parties enter into a separate extension agreement. The notice is anticipated no later than September 30, 2024 and had not yet been received as of March 31, 2024. Pursuant to the 2023 GSK Amendment, the Company opted-out of cost-sharing and other research and development obligations with respect to three programs initiated by GSK and the Company under the original GSK Agreement. The Company will retain rights to receive low to mid-single digit royalties on net sales of products developed in these three programs. The Company recognized research services revenue related to the original GSK Agreement of $11.8 million, $47.4 million and $46.1 million during the fiscal years ended March 31, 2024, 2023 and 2022, respectively. The Company did not recognize research services revenue related to the 2023 GSK Amendment during the fiscal years ended March 31, 2024, 2023 and 2022. As of March 31, 2024, the Company had deferred revenue, related to the 2023 GSK Amendment of $20.0 million. As of March 31, 2023, the Company had deferred revenue, related to the original GSK Agreement of $11.8 million. Cost-sharing amounts incurred prior to the identification of targets included in cost of revenue were $0.3 million, $0.5 million and $0.3 million during the fiscal years ended March 31, 2024, 2023 and 2022, respectively. Cost-sharing amounts incurred subsequent to the identification of targets, included in research and development expenses, were $12.8 million, $10.7 million and $24.0 million during the fiscal years ended March 31, 2024, 2023 and 2022, respectively. As of March 31, 2024 and 2023, the Company had $10.6 million and $11.9 million, respectively, related to balances of amounts payable to GSK for reimbursement of shared costs included within accounts payable and accrued expenses and other current liabilities on the consolidated balance sheets. GSK’s affiliate, Glaxo Group Limited, is considered as a related party to the Company. See Note 20 “Related Party Transactions.”

Restructuring - Schedule of Amounts Incurred and Accrued Related to One-time Termination Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Restructuring Reserve [Roll Forward]
Accrued restructuring costs included in accrued expenses and other current liabilities as of March 31, 2023	$ 0
Restructuring charges incurred during the period	8,368	$ 0	$ 0
Amounts paid during the period	(8,346)
Accrued restructuring costs included in accrued expenses and other current liabilities as of March 31, 2024	$ 22	$ 0

Balance Sheet Components - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2022	Dec. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Property Plant And Equipment [Line Items]
Depreciation				$ 11,000,000	$ 14,800,000	$ 16,100,000
Property and equipment cost	$ 110,082,000			110,082,000	113,924,000
Impairment to property plant and equipment				0		0
Amortization and impairment of internal-use software				6,255,000	4,427,000	2,449,000
Amortization of intangible assets				12,300,000	17,300,000	7,600,000
Impairment of intangible assets				0		0
Goodwill impairment	152,900,000		$ 198,800,000	351,744,000	0	0
Goodwill	0			0	351,744,000
Lemonaid Health Limited
Property Plant And Equipment [Line Items]
Internal use software write-off				1,100,000
Internal Use Software
Property Plant And Equipment [Line Items]
Capitalized computer software				12,100,000	10,800,000	5,700,000
Internal Use Software Including Stock Based Compensation
Property Plant And Equipment [Line Items]
Capitalized computer software				3,600,000	3,200,000	1,200,000
Amortization and impairment of internal-use software				6,300,000	$ 4,800,000	$ 2,900,000
Partnerships
Property Plant And Equipment [Line Items]
Impairment charge for U.K partnership asset		$ 10,000,000
Property And Equipment-Write-Off
Property Plant And Equipment [Line Items]
Property and equipment cost	$ 4,600,000			$ 4,600,000

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Unconditional purchase obligation, purchases	$ 26,200	$ 29,900	$ 34,700
Loss Contingencies [Line Items]
Cybersecurity incident expenses, net of probable insurance recoveries	1,765	$ 0	$ 0
Cyber Security Breach
Loss Contingencies [Line Items]
Cybersecurity incident expenses, net of probable insurance recoveries	4,600
Probable insurance recoveries	$ 2,800

Revenue (Tables)

12 Months Ended

Mar. 31, 2024

Disaggregation of Revenue [Abstract]

Summary of Revenue By Category

The following table presents revenue by category:


	Year Ended March 31,
	2024				2023				2022
	Amount		% of Revenue		Amount		% of Revenue		Amount		% of Revenue
	(in thousands, except percentages)
Point in Time (1)
PGS	$	145,113	66	%	$	182,866	61	%	$	189,703	70	%
Telehealth	26,486		12	%	34,961		12	%	15,299		6	%
Consumer services	171,599		78	%	217,827		73	%	205,002		76	%
Research services	3,997		2	%	—		—	%	—		—	%

Total	$	175,596	80	%	$	217,827	73	%	$	205,002	76	%

Over Time (1)
PGS	$	22,631	10	%	$	19,548	7	%	$	12,978	5	%
Telehealth	8,081		4	%	9,761		3	%	3,908		1	%
Consumer services	30,712		14	%	29,309		10	%	16,886		6	%
Research services	13,330		6	%	52,353		17	%	50,005		18	%

Total	$	44,042	20	%	$	81,662	27	%	$	66,891	24	%

Revenue by Category (1)
PGS	$	167,744	76	%	$	202,414	68	%	$	202,681	75	%
Telehealth	34,567		16	%	44,722		15	%	19,207		7	%
Consumer services	202,311		92	%	247,136		83	%	221,888		82	%
Research services	17,327		8	%	52,353		17	%	50,005		18	%

Total	$	219,638	100	%	$	299,489	100	%	$	271,893	100	%

(1) There was no Therapeutics revenue for the fiscal years ended March 31, 2024, 2023 and 2022.

Summary of Revenue by Region based on the Shipping Address of Customers

The following table summarizes revenue by region based on the shipping address of customers:


	Year Ended March 31,
	2024				2023				2022
	Amount		% of Revenue		Amount		% of Revenue		Amount		% of Revenue
	(in thousands, except percentages)
United States	$	180,153	82	%	$	217,242	73	%	$	192,438	71	%
UK	24,280		11	%	63,023		21	%	58,477		22	%
Canada	10,565		5	%	13,581		4	%	14,293		5	%
Other regions	4,640		2	%	5,643		2	%	6,685		2	%
Total	$	219,638	100	%	$	299,489	100	%	$	271,893	100	%