0000950170-22-010852 | 10-K | XBRL Viewer

Common Stock and Warrants

13. Common Stock and Warrants

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. The outstanding shares of 23andMe, Inc. Class A and Class B common stock, respectively, are presented on the consolidated balance sheets and on the consolidated statements of redeemable convertible preferred stock and stockholders’ equity (deficit) for the fiscal year ended March 31, 2021.

On the Closing Date and in accordance with the terms and subject to the conditions of the Merger Agreement, each share of 23andMe, Inc. Class A common stock, par value $0.00001 per share, (other than dissenting shares) was canceled and converted into the right to receive the applicable portion of the merger consideration comprised of the Company’s Class A common stock, par value $0.0001 per share, as determined in the Merger Agreement (the “Share Conversion Ratio”), each share of 23andMe, Inc. Class B common stock, par value $0.00001 per share (other than dissenting shares) was canceled and converted into the right to receive the applicable portion of the merger consideration comprised of the Company’s Class B common stock, par value $0.0001 per share, as determined pursuant to the Share Conversion Ratio. The Share Conversion Ratio was 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 shares of common stock, 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. Additionally, pursuant to the Company’s amended and restated certificate of incorporation, the Company is authorized to issue 10,000,000 shares of preferred stock having a par value of $0.0001 per share (“Preferred Stock”). 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, 2022, no shares of Preferred Stock were issued and outstanding.

As of March 31, 2022, the Company had authorized 1,140,000,000 and 350,000,000 shares of Class A and Class B common stock, respectively, and the Company had 228,174,718 and 220,637,603 shares of Class A and Class B common stock issued and outstanding, respectively.

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 in the fee table of the Registration Statement on Form S-1 filed with the SEC by the Company on July 8, 2021 represent the number 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, 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 at 5:00 p.m. New York City Time (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 (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, approximately 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, 2022.

The change in fair value of warrant liabilities was recorded through the date of exercise or redemption within the consolidated statements of operations and comprehensive loss. Additionally, the fair value of the warrant liability of $42.4 million was reclassified to additional paid-in capital.

Acquisitions

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 14, “Equity Incentive Plans and Stock-Based Compensation.”

Reserve for Issuance

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


	March 31,
	2022		2021
Redeemable convertible preferred stock		—		209,181,855
Outstanding stock options		73,609,565		67,377,463
Outstanding restricted stock units		10,676,378		—
Remaining shares available for future issuance under 2006 Equity Incentive Plan		—		2,259,758
Remaining shares available for future issuance under 2021 Equity Incentive Plan		48,895,572		—
Shares available for future issuance under Employee Stock Purchase Plan		11,420,000		—
Total shares of common stock reserved		144,601,515		278,819,076

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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Schedule of Provision For (Benefit From) Income Taxes

Income Taxes (Tables)

12 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

The components of the Company’s loss before provision for (benefit from) income taxes for the fiscal years ended March 31, 2022, 2021 and 2020 were as follows:


	Year Ended March 31,
	2022			2021			2020
	(in thousands)
Domestic	$	(221,212	)	$	(183,619	)	$	(250,863	)
Foreign		242			—			—
Loss before income taxes	$	(220,970	)	$	(183,619	)	$	(250,863	)

Schedule of Provision Related To Income Taxes


	Year Ended March 31,
	2022			2021			2020
Statutory federal tax expense rate		21	%		21	%		21	%
Non-deductible stock-based compensation		(3	)		(7	)		(2	)
Fair Market Value adjustment on Warrants		3			—			—
Change in valuation allowance related to acquisition		2			—			—
Change in valuation allowance		(20	)		(14	)		(19	)
Other		(2	)		—			—
Effective tax rate		2	%		0	%		0	%

Schedule of Deferred Tax Assets and Liabilities

The components of net deferred tax assets, as of March 31, 2022 and 2021 consisted of:


	Year Ended March 31,
	2022			2021
	(in thousands)
Deferred tax assets:
Net operating loss carryforwards	$	248,856		$	181,020
Accruals and reserves		3,685			3,591
Stock-based compensation		10,000			6,291
Deferred revenue		6,865			17,785
Operating lease liabilities		20,590			23,393
Intangibles	—				355
Other		19			391
Gross deferred tax assets		290,015			232,826
Valuation allowance		(261,795	)		(213,267	)
Total deferred tax assets		28,220			19,559
Deferred tax liabilities:
Prepaid expenses		(1,235	)		(841	)
Intangibles		(15,709	)
Operating lease right-of-use assets		(13,233	)		(15,755	)
Property and equipment		(1,138	)		(2,963	)
Gross deferred tax liabilities		(31,315	)		(19,559	)
Net deferred taxes	$	(3,095	)	$	—

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending balance of unrecognized tax benefits is summarized as follows:


	Unrecognized Tax Benefits
	(in thousands)
Balance as of March 31, 2019	$	282
Decreases in unrecognized tax benefits related to prior year tax positions		—
Increases in unrecognized tax benefits related to current year tax positions		17
Balance as of March 31, 2020		299
Decreases in unrecognized tax benefits related to prior year tax positions		(299	)
Increases in unrecognized tax benefits related to current year tax positions		—
Balance as of March 31, 2021		—

Balance Sheet Components - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 112,475	$ 111,212
Less: accumulated depreciation and amortization	(62,624)	(50,328)
Property and equipment, net	49,851	60,884
Computer and Software
Property Plant And Equipment [Line Items]
Property and equipment, gross	10,573	13,252
Laboratory Equipment and Software
Property Plant And Equipment [Line Items]
Property and equipment, gross	51,557	48,636
Furniture and Office Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	8,926	8,803
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	40,566	39,668
Capitalized Asset Retirement Obligations
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 853	$ 853

Commitments and Contingencies (Tables)

12 Months Ended

Mar. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Outstanding Non-Cancelable Purchase Obligations

As of March 31, 2022, the Company had outstanding non-cancelable purchase obligations with a term of 12 months or longer totaling as follows (in thousands):


Fiscal years ending March 31,
2023	$	22,186
2024		26,977
2025		15,181
2026		728
Total	$	65,072

Summary of Significant Accounting Policies - Summary of Significant Customer Information (Details)	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Customer C
Concentration Risk [Line Items]
Percentage of accounts receivable	25.00%	35.00%
Customer D
Concentration Risk [Line Items]
Percentage of accounts receivable	0.00%	40.00%
Customer F
Concentration Risk [Line Items]
Percentage of accounts receivable	19.00%	0.00%
Customer G
Concentration Risk [Line Items]
Percentage of accounts receivable	44.00%	0.00%
Customer Concentration Risk [Member] \| Customer B \| Revenue Benchmark [Member]
Concentration Risk [Line Items]
Percentage of Revenue	17.00%	16.00%	8.00%
Customer Concentration Risk [Member] \| Customer C \| Revenue Benchmark [Member]
Concentration Risk [Line Items]
Percentage of Revenue	20.00%	21.00%	25.00%

Fair Value Measurements

12 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

6. 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, 2022 and 2021. There were no financial assets or liabilities measured at fair value on a recurring basis as of March 31, 2022 and 2021. Identifiable assets and liabilities acquired or assumed are measured separately at their fair values as of the acquisition date. See Note 4, “Acquisitions,” for additional detail.

Nonrecurring Fair Value Measurements

Certain items were recorded at fair value on a nonrecurring basis in the Company’s financial statements for the fiscal years ended March 31, 2022, 2021 and 2020.

Long-lived assets within an asset group, which included right of use assets, leasehold improvements and property and equipment, were measured at fair value on a nonrecurring basis at March 31, 2020 due to an impairment recognized on those assets at that date (see Note 9, “Restructuring”). Fair value of the asset group was estimated as $21.5 million using discounted cash flows under the income approach classified in Level 3 of the fair value hierarchy. Under the income approach, the cash flows were discounted at 9.0% and incorporated assumptions based on the Company’s best estimate of future sub-lease income and sub-lease term for a portion of its Sunnyvale, California facility.

For the fiscal year ended March 31, 2022, changes in warrant liabilities were primarily related to Private Placement Warrants and Public Warrants defined and discussed in Note 13, “Common Stock and Warrants.” The Warrants were measured at fair value on a recurring basis. The Company performs routine procedures such as comparing prices obtained from independent sources to ensure that appropriate fair values are recorded. The Company valued the Private Placement Warrants using a binomial lattice model. Inherent in a binomial lattice model ("lattice model") are assumptions related to expected term, volatility, risk-free interest rate, and dividend yield. The expected term of the Warrants was determined to be equivalent to their remaining contractual term and includes consideration of the redemption features that were incorporated into the binomial lattice model. The Company derived the volatility of its Private Placement Warrants based on an implied volatility that was estimated using an iterative process to calibrate a binomial lattice model to the trading price of the Public Warrant. The risk-free interest rate is based on the U.S. Treasury's rates of U.S. Treasury zero-coupon bonds with a maturity similar to the expected term of the Private Placement Warrants. The dividend rate is based on the historical rate, which the Company anticipates remaining at zero.

On November 22, 2021, the Company called the Public Warrants and the Private Placement Warrants for redemption. The Company valued the Private Placement Warrants on the settlement date of exercise, using the fair market value of the Company’s Class A common stock multiplied by the number of shares of Class A common stock to be issued per Warrant, which was determined in accordance with the terms of the warrant agreement and based on the redemption date and the volume weighted average price (the “Redemption Fair Market Value”) of the Class A common stock during the ten trading days immediately following the date on which the notice of redemption was sent to holders of Warrants. On a cashless basis exercise, the holder was entitled to receive 0.2516 shares of Class A common stock per Warrant. The Public Warrants were valued using the listed trading price on the relevant settlement date of exercise. Any Warrants not exercised by the redemption date, December 22, 2021, were automatically redeemed by the Company at a price of $0.10 per Warrant. The change in fair value of warrant liabilities was recorded through the date of exercise or redemption within the consolidated statements of operations and comprehensive loss. Since all liability-classified warrants were exercised or redeemed as of March 31, 2022, the associated warrant liabilities were reclassified to additional paid-in capital. As of March 31, 2022, no Warrants were outstanding. See Note 13, “Common Stock and Warrants,” for additional detail.

The change in the fair value of warrant liabilities is as follows:


	Warrant Liabilities
	(in thousands)
Balance at March 31, 2021	$	—
Assumption of Private Placement Warrants and Public Warrants		75,415
Redeemed/exercised warrants		(42,426	)
Change in fair value of warrant liabilities		(32,989	)
Balance at March 31, 2022	$	—

As of March 31, 2022, the Company had no transfers between levels of the fair value hierarchy of its assets and liabilities measured at fair value. Due to the exercise and redemption of all Public Warrants and Private Placement Warrants during the period, there were no longer any Level 3 Private Placement Warrant liabilities.

Restructuring and Related Activities [Abstract]

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

Restructuring

12 Months Ended

Mar. 31, 2022

Restructuring

9. Restructuring

In December 2019 and January 2020, the Company approved restructuring plans to achieve its strategic and financial objectives. Restructuring activities included a reduction in workforce, contract terminations related to certain retail and operating lease arrangements, resulting in impairment losses of operating lease ROU assets associated with disposition of the Phoenix, Arizona operating facility and square footage available for sublease at the Sunnyvale, California facility, as well as other exit or disposal costs. The Company recorded restructuring expenses of $44.7 million within restructuring and other charges in the consolidated statements of operations and comprehensive loss during the fiscal year ended March 31, 2020 primarily related to the Consumer & Research Services segment.

During the fiscal year ended March 31, 2020, the Company recorded employee severance and termination benefits expense of approximately $5.5 million within restructuring and other charges in the consolidated statements of operations and comprehensive loss, of which $0.9 million was non-cash stock-based compensation expense. The Company recorded these involuntary employee-related exit and disposal costs when there was a substantive plan for employee severance and related costs were probable and estimable.

The Company ceased use of its Phoenix, Arizona operating facility in January 2020 as part of the Company’s restructuring plan. Using the discounted cash flow method, the Company calculated the difference between the present value of the estimated future sublease rental income and the present value of remaining lease obligations, adjusted for the effects of any prepaid or deferred items. The key assumptions used in the Company’s discounted cash flow model included the amount and timing of sublease rental receipts and the discount rate. As a result, the Company recognized an impairment loss, which represented the remaining carrying value of the operating ROU asset as of March 31, 2020, of approximately $0.6 million, as well as an impairment loss of $13.0 million associated with property and equipment for this facility and an impairment loss of $0.7 million for capitalized internal use software. The Company also recorded a related liability of $3.0 million for the contractually obligated exit costs associated with this facility as of March 31, 2020. The Company utilized the terms and conditions of the assignment and assumption of lease agreement when evaluating the impairment of the operating lease ROU asset related to the operating lease for the fiscal year ended March 31, 2020. The Company recorded the expenses associated with the Phoenix, AZ facility disposition within restructuring and other charges in the consolidated statements of operations and comprehensive loss. In June 2020, the Company entered into an assignment and assumption of lease agreement with a third-party assignee related to the facility space in Phoenix, Arizona. As part of this agreement, the third-party assignee agreed to assume from the Company all of the rights and remaining obligations under the operating lease, which the Company had previously entered into with the landlord in March 2019 and subsequently amended in June 2019.

In addition, as part of the restructuring plan, the Company made available a significant portion of its Sunnyvale, California facility for sublease. Using the discounted cash flow method, the Company calculated the difference between the present value of the estimated future sublease rental income and the present value of remaining lease obligations, adjusted for the effects of any prepaid or deferred items. As a result, the Company recognized an impairment loss of approximately $12.6 million to reduce the carrying value of the operating ROU asset to fair value, as well as an impairment loss of $7.0 million associated with property, equipment and capitalized asset retirement obligations for this facility within restructuring and other charges in the consolidated statements of operations and comprehensive loss in the fiscal year ended March 31, 2020.

As part of the restructuring activity, the Company also consolidated the sales channel network by terminating certain retail contracts. As a result, the Company recorded $0.8 million return-related fees and $1.5 million inventory write-off within restructuring and other charges in the consolidated statements of operations and comprehensive loss in the fiscal year ended March 31, 2020. Of the $0.8 million of return-related fees incurred during the fiscal year ended March 31, 2020, $0.1 million was paid or adjusted, resulting in an accrued balance of $0.7 million as of March 31, 2020. During the fiscal year ended March 31, 2021, an additional $0.2 million was paid or adjusted, resulting in an accrued balance of $0.5 million as of March 31, 2021. The Company also recorded a refund of the original purchase price related to the return of inventory held by retailers of $5.7 million, which reduced deferred revenue on the consolidated balance sheets as of March 31, 2020.

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 as of March 31, 2019	$	—
Restructuring charges incurred during the period		4,633
Amounts paid during the period		(3,580	)
Accrued restructuring costs as of March 31, 2020		1,053
Amounts paid during the period		(1,053	)
Accrued restructuring costs as of March 31, 2021	$	—

There was no restructuring activity during the fiscal year ended March 31, 2022. The Company does not expect to incur any further expenses in connection with any past restructuring plan.

Income Taxes (Additional Information) (Details) - USD ($) $ in Thousands		12 Months Ended
	Dec. 31, 2017	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Income Tax Examination [Line Items]
Deferred income tax benefit		$ 3,500
Provision for income taxes		(3,480)	$ 0	$ 0
Operating loss carryforwards		656,100
Taxable Income Loss Limit Percentage	80.00%
Unrecognized Tax Benefits, interest and penalties		0	0
Change in the valuation allowance		40,200
Federal [Member]
Income Tax Examination [Line Items]
Provision for income taxes		0
Operating loss carryforwards		$ 1,000,000	733,300
Operating loss carryforwards expiration year		2026
State [Member]
Income Tax Examination [Line Items]
Provision for income taxes		$ 0
Operating loss carryforwards		$ 548,500	$ 410,500
Operating loss carryforwards expiration year			2026

Equity Incentive Plans and Stock-Based Compensation - Summary of the Stock-Based Compensation (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 28, 2021	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense		$ 57,933	$ 86,696	$ 41,058
Cost of Revenue [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense		4,029	858	733
Research and Development [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense		26,540	21,771	16,524
Sales and Marketing [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense		5,122	4,081	3,988
General and Administrative [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 40,400	22,242	59,986	18,932
Restructuring and other charges
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense		$ 0	$ 0	$ 881

Balance Sheet Components

12 Months Ended

Mar. 31, 2022

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

8. Balance Sheet Components

Property and Equipment, Net

Property and equipment, net consisted of the following:


	March 31,
	2022			2021
	(in thousands)
Computer and software	$	10,573		$	13,252
Laboratory equipment and software		51,557			48,636
Furniture and office equipment		8,926			8,803
Leasehold improvements		40,566			39,668
Capitalized asset retirement obligations		853		853
Property and equipment, gross		112,475			111,212
Less: accumulated depreciation and amortization		(62,624	)		(50,328	)
Property and equipment, net	$	49,851		$	60,884

Depreciation and amortization expense was $16.1 million, $18.1 million and $22.2 million for the fiscal years ended March 31, 2022, 2021 and 2020, respectively.

Internal-use Software, Net

Internal-use software, net consisted of the following:


	March 31,
	2022			2021
	(in thousands)
Capitalized internal-use software	$	14,804		$	9,200
Less: accumulated amortization		(5,169	)		(2,311	)
Internal-use software, net	$	9,635		$	6,889

The Company capitalized $5.7 million, $4.0 million and $6.0 million in internal-use software during the fiscal years ended March 31, 2022, 2021 and 2020, respectively. For the fiscal years ended March 31, 2022, 2021 and 2020, amortization expense related to internal-use software was $2.9 million, $2.0 million and $0.4 million, respectively, including approximately $0.5 million, $0.3 million and $0.1 million, respectively, of stock-based compensation expense.

Intangible Assets, Net

Intangible assets, net consisted of the following:


	March 31, 2022
	Weighted Average Remaining Useful Life- Years		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(in thousands, except years)
Customer Relationships		1.6	$	14,900	$	(3,104	)	$	11,796
Partnerships		6.6		23,200		(1,558	)		21,642
Trademark		4.6		11,000		(917	)		10,083
Developed Technology		6.6		24,100		(1,436	)		22,664
Non-Compete Agreements		4.6		2,800		(233	)		2,567
Patents		6.4		5,500		(347	)		5,153
Total intangible assets			$	81,500	$	(7,595	)	$	73,905

Amortization expense for intangible assets was $7.6 million for the fiscal year ended March 31, 2022. There were no intangible assets as of March 31, 2021.

Estimated future amortization expense of the identified intangible assets as of March 31, 2022, is as follows:


	Estimated Amortization
	(in thousands)
Fiscal years ending March 31,
2023	$	18,209
2024		15,105
2025		10,759
2026		10,759
2027		8,426
Thereafter		10,647
Total estimated future amortization expense	$	73,905

Accrued Expense and Other Current Liabilities

Accrued expense and other current liabilities consisted of the following:


	March 31,
	2022		2021
	(in thousands)
Accrued payables	$	27,654	$	19,869
Accrued compensation and benefits		14,898		11,749
Accrued taxes and other		2,036		335
Total accrued expenses and other current liabilities	$	44,588	$	31,953

Leases - Schedule of supplemental cash flow information (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Cash paid for amounts included in the measurement of operating lease liabilities:
Operating cash flows used in operating leases	$ (13,490)	$ (14,067)	$ (12,520)
Operating cash flows provided by operating leases	0	3,733	9,940
Operating lease ROU assets obtained in exchange for new operating lease liabilities	$ 0	$ 12,803	$ 4,769

Common Stock and Warrants - Additional Information (Detail) $ / shares in Units, $ in Thousands			12 Months Ended
	Dec. 22, 2021 USD ($) $ / shares shares	Jun. 16, 2021 Vote $ / shares shares	Mar. 31, 2022 USD ($) $ / shares shares	Mar. 31, 2021 USD ($) $ / shares shares	Mar. 31, 2020 USD ($)	Feb. 04, 2021 shares
Class Of Stock [Line Items]
Stock split description		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	The shares and net loss per common share prior to the Merger have been retroactively restated as shares reflecting the exchange ratio established in the Merger (each outstanding share of 23andMe, Inc. Class A common stock was exchanged for 2.293698169 shares of the Company’s Class A common stock, and each outstanding share of 23andMe, Inc. Class B common stock, including all shares of 23andMe, Inc. preferred stock (which were converted to shares of 23andMe, Inc. Class B common stock immediately prior to the Merger), was exchanged for 2.293698169 shares of the Company’s Class B common stock).
Common stock, shares authorized		1,490,000,000
Preferred stock, shares authorized		10,000,000
Preferred stock, par value \| $ / shares		$ 0.0001
Preferred stock, shares outstanding			0
Warrants outstanding			0
Number of Redeemed Warrants Redemption Payment Made To	1,164,142
Change in fair value of warrant liabilities \| $			$ (32,989)	$ 0	$ 0
Description of warrant redemption			Warrants were exercised, representing approximately 95% of the outstanding Warrants
Public Warrants and Private Placement Warrants [Member]
Class Of Stock [Line Items]
Warrants exercised	23,901,466
Class A Common Stock [Member]
Class Of Stock [Line Items]
Common Stock, Par value \| $ / shares		$ 0.00001	$ 0.0001	$ 0.0001
Exchange Ratio		2.293698169	2.293698169
Common stock, shares authorized		1,140,000,000	1,140,000,000	390,921,975
Number of votes \| Vote		1
Common Stock, Shares, Issued	26,825,241		228,174,718	20,713,076
Common Stock, Shares, Outstanding			228,174,718	20,713,076
Common stock shares subscribed	3,747,027		2,500,000
Exercise price \| $ / shares	$ 11.50
Expiry date			5 years
Share Redemption Trigger Price \| $ / shares			$ 18.00
Exchange ratio for shares of Class A common stock per warrant \| $ / shares	0.2516
Class A Common Stock [Member] \| Private Placement Warrants
Class Of Stock [Line Items]
Number of Warrants			8,113,999
Exercise price \| $ / shares			$ 11.50
Number of Days after the completion of an initial business combination			30 days
Class of Warrant or Right Redemption Threshold Trading Days			10 days
Class of warrants or rights redemption price per warrant \| $ / shares			$ 10.00
Class A Common Stock [Member] \| Public Warrants
Class Of Stock [Line Items]
Number of Warrants			16,951,609
Exercise price \| $ / shares			$ 11.50
Class B Common Stock [Member]
Class Of Stock [Line Items]
Common Stock, Par value \| $ / shares		$ 0.00001	$ 0.0001	$ 0.0001
Exchange Ratio		2.293698169	2.293698169
Common stock, shares authorized		350,000,000	350,000,000	380,944,977
Number of votes \| Vote		10
Common Stock, Shares, Issued			220,637,603	103,816,708
Common Stock, Shares, Outstanding			220,637,603	103,816,708		3,814,125
Common Class C [Member]
Class Of Stock [Line Items]
Common Stock, Par value \| $ / shares			$ 0.0001	$ 0.0001
Common stock, shares authorized			0	72,276,062
Common Stock, Shares, Issued			0	0
Common Stock, Shares, Outstanding			0	0
Maximum [Member]
Class Of Stock [Line Items]
Class of warrants or rights redemption price per warrant \| $ / shares	0.10
Minimum [Member]
Class Of Stock [Line Items]
Class of warrants or rights redemption price per warrant \| $ / shares	$ 0.10
Additional Paid-in Capital [Member]
Class Of Stock [Line Items]
Change in fair value of warrant liabilities \| $	$ 42,400
Share Price Less Than Dollar Eighteen And Greater Than Or Equals To Ten Point Zero Zero \| Class A Common Stock [Member] \| Public Warrants
Class Of Stock [Line Items]
Exercise price \| $ / shares			$ 0.10
Share Redemption Trigger Price \| $ / shares			$ 10.00
Class of warrants redemption notice period			30 days
Share Price Less Than Dollar Eighteen And Greater Than Or Equals To Ten Point Zero Zero \| Minimum [Member] \| Class A Common Stock [Member] \| Public Warrants
Class Of Stock [Line Items]
Exercise price \| $ / shares			$ 18.00
Share Price Equals Or Exceeds Dollar Eighteen \| Class A Common Stock [Member] \| Public Warrants
Class Of Stock [Line Items]
Exercise price \| $ / shares			$ 0.01
Class of Warrant or Right Redemption Threshold Consecutive Trading Days			20 days
Class of Warrant or Right Redemption Threshold Trading Days			30 days
Share Redemption Trigger Price \| $ / shares			$ 18.00
Class of warrants redemption notice period			30 days

Leases (Tables)

12 Months Ended

Mar. 31, 2022

Leases [Abstract]

Schedule of lease costs

The Company incurred total lease costs in its consolidated statements of operations and comprehensive loss. The components of lease cost for operating leases for the fiscal years ended March 31, 2022, 2021 and 2020 were as follows:


	Year Ended March 31,
	2022		2021		2020
	(in thousands)
Operating lease cost, net (1)	$	13,640	$	13,614	$	10,999
Variable lease cost		6,425		5,809		4,705
Total lease cost	$	20,065	$	19,423	$	15,704

(1)

For the year ended March 31, 2020, included in operating lease cost is a $4.9 million reduction to lease cost related to a lease termination.

Schedule of supplemental balance sheet information

Variable lease cost includes property tax, insurance, common area maintenance, and utilities. The following is supplemental balance sheet information as of March 31, 2022 and 2021:


	Year Ended March 31,
	2022		2021
	(in thousands)
Reported as:
Assets:
Operating lease right-of-use assets	$	55,577	$	63,122
Liabilities:
Operating lease liabilities		7,784		6,140
Operating lease liabilities, noncurrent		78,524		87,582
Total operating lease liabilities	$	86,308	$	93,722

Schedule of weighted average remaining lease term and discount rate

Weighted average remaining lease term and discount rate for the Company’s operating leases was as follows:


	Year Ended March 31,
	2022			2021			2020
Weighted-average remaining lease term (in years)	8.4			9.2			10.5
Weighted-average discount rate		7	%		7	%		8	%

Schedule of supplemental cash flow information

Supplemental cash flow information related to operating leases for the fiscal years ended March 31, 2022, 2021 and 2020 was as follows:


	Year Ended March 31,
	2022			2021			2020
	(in thousands)
Cash paid for amounts included in the measurement of operating lease liabilities:
Operating cash flows used in operating leases	$	(13,490	)	$	(14,067	)	$	(12,520	)
Landlord contributions included in the measurement of operating lease ROU assets:
Operating cash flows provided by operating leases	$	—		$	3,733		$	9,940
Supplemental disclosure of non-cash operating lease activities:
Operating lease ROU assets obtained in exchange for new operating lease liabilities	$	—		$	12,803		$	4,769

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

As of March 31, 2022, the future minimum lease payments included in the measurement of the Company’s operating lease liabilities were as follows (in thousands):


Fiscal years ending March 31,
2023	$	13,782
2024		14,960
2025		14,464
2026		11,105
2027		11,348
Thereafter		53,095
Total future operating lease payments		118,754
Less: imputed interest		(32,446	)
Total operating lease liabilities	$	86,308

Related Party Transaction

12 Months Ended

Mar. 31, 2022

Related Party Transactions

17. Related Party Transactions

As described in Note 7, “Collaborations,” in July 2018, the Company and GSK entered into the GSK Agreement, and there were transactions with GSK during the fiscal years ended March 31, 2022, 2021 and 2020. At the time the 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 16.3% and 12.6% voting interest in the Company as of March 31, 2022 and 2021, 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 September 2020 and February 2021, the CEO early exercised unvested options to purchase shares of common stock. In February 2021, the Board of Directors accelerated the vesting of all 15,621,041 unvested shares previously purchased by the CEO, which resulted in stock-based compensation expense of $40.4 million related to recognition of the remaining compensation expense associated with these grants. For further information, see Note 14, “Equity Incentive Plan and Stock-based Compensation”.

Balance Sheet Components - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Property Plant And Equipment [Line Items]
Depreciation	$ 16,100	$ 18,100	$ 22,200
Capitalized internal-use software, gross	14,804	9,200
Amortization Of Intangible Assets	7,600
Intangible Assets		0
Internal Use Software
Property Plant And Equipment [Line Items]
Amortization of internal use software including capitalized stock based compensation expense	2,900	2,000	400
Stock-based compensation expense capitalized to internal-use software	500	300	100
Capitalized internal-use software, gross	$ 5,700	$ 4,000	$ 6,000

Leases - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Jan. 31, 2021	Mar. 31, 2022	Mar. 31, 2020
Lessee Lease Description [Line Items]
Non cancellable future minimum lease payments	$ 12.1
Lessee, Operating Lease, Renewal Term		7 years
Operating lease option to extend		For the Company’s facility in Sunnyvale, California, there is an option to extend the lease for a period of 7 years.
Reduction of lease cost related to lease termination			$ 4.9
Minimum [Member]
Lessee Lease Description [Line Items]
Lessee, Operating Lease, Renewal Term		1 year 9 months 18 days
Maximum [Member]
Lessee Lease Description [Line Items]
Lessee, Operating Lease, Renewal Term		9 years 3 months 18 days

Balance Sheet Components (Tables)

12 Months Ended

Mar. 31, 2022

Balance Sheet Related Disclosures [Abstract]

Property and Equipment, Net

Property and equipment, net consisted of the following:


	March 31,
	2022			2021
	(in thousands)
Computer and software	$	10,573		$	13,252
Laboratory equipment and software		51,557			48,636
Furniture and office equipment		8,926			8,803
Leasehold improvements		40,566			39,668
Capitalized asset retirement obligations		853		853
Property and equipment, gross		112,475			111,212
Less: accumulated depreciation and amortization		(62,624	)		(50,328	)
Property and equipment, net	$	49,851		$	60,884

Schedule of Internal Use Software, Net

Internal-use software, net consisted of the following:


	March 31,
	2022			2021
	(in thousands)
Capitalized internal-use software	$	14,804		$	9,200
Less: accumulated amortization		(5,169	)		(2,311	)
Internal-use software, net	$	9,635		$	6,889

Summary of Intangible Assets, Net

Intangible assets, net consisted of the following:


	March 31, 2022
	Weighted Average Remaining Useful Life- Years		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(in thousands, except years)
Customer Relationships		1.6	$	14,900	$	(3,104	)	$	11,796
Partnerships		6.6		23,200		(1,558	)		21,642
Trademark		4.6		11,000		(917	)		10,083
Developed Technology		6.6		24,100		(1,436	)		22,664
Non-Compete Agreements		4.6		2,800		(233	)		2,567
Patents		6.4		5,500		(347	)		5,153
Total intangible assets			$	81,500	$	(7,595	)	$	73,905

Summary of Future Amortization of Intangible Assets

Estimated future amortization expense of the identified intangible assets as of March 31, 2022, is as follows:


	Estimated Amortization
	(in thousands)
Fiscal years ending March 31,
2023	$	18,209
2024		15,105
2025		10,759
2026		10,759
2027		8,426
Thereafter		10,647
Total estimated future amortization expense	$	73,905

Schedule of Accrued Expense and Other Current Liabilities

Accrued expense and other current liabilities consisted of the following:


	March 31,
	2022		2021
	(in thousands)
Accrued payables	$	27,654	$	19,869
Accrued compensation and benefits		14,898		11,749
Accrued taxes and other		2,036		335
Total accrued expenses and other current liabilities	$	44,588	$	31,953

Related Party Transactions - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended	12 Months Ended
	Feb. 04, 2021	Jul. 31, 2018	Mar. 31, 2022	Mar. 31, 2021	Dec. 22, 2021
Common Class A [Member]
Related Party Transaction [Line Items]
Common stock shares subscribed			2,500,000		3,747,027
Common stock, Price Per Share	$ 10.00
GSK Collaboration Agreement [Member]
Related Party Transaction [Line Items]
Voting interest percentage			16.30%	12.60%
GSK Collaboration Agreement [Member] \| Series F1 Redeemable Convertible Preferred Stock [Member]
Related Party Transaction [Line Items]
Redeemable convertible preferred stock purchase		17,291,066
Subscription Agreement [Member] \| Common Class A [Member]
Related Party Transaction [Line Items]
Common stock shares subscribed	25,000,000
Common stock, Price Per Share	$ 10.00
Proceeds from PIPE	$ 250.0
CEO
Related Party Transaction [Line Items]
Unvested shares				15,621,041
Stock-based compensation expense				$ 40.4

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Accounts Payable, related party	$ 12,567	$ 4,422
Accrued expenses and other current liabilities, related party	5,772	7,065
Deferred revenue, current, related party	$ 9,181	$ 30,140
Redeemable convertible preferred stock, Shares, Authorized		209,512,070
Redeemable convertible preferred stock, Shares, Issued		209,181,855
Redeemable convertible preferred stock, Shares, Outstanding	0	209,181,855
Redeemable convertible preferred stock, Liquidation Preference		$ 874,107
Redeemable Convertible Preferred Stock [Member]
Redeemable convertible preferred stock, Par Value	$ 0.0001	$ 0.00001
Redeemable convertible preferred stock, Shares, Authorized	10,000,000	209,512,070
Redeemable convertible preferred stock, Shares, Issued	0	209,181,855
Redeemable convertible preferred stock, Shares, Outstanding	0	209,181,855
Redeemable convertible preferred stock, Liquidation Preference	$ 0	$ 874,107
Class A Common Stock [Member]
Common Stock, Par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	1,140,000,000	390,921,975
Common Stock, Shares, Issued	228,174,718	20,713,076
Common Stock, Shares, Outstanding	228,174,718	20,713,076
Class B Common Stock [Member]
Common Stock, Par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	350,000,000	380,944,977
Common Stock, Shares, Issued	220,637,603	103,816,708
Common Stock, Shares, Outstanding	220,637,603	103,816,708
Class C Common Stock [Member]
Common Stock, Par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	0	72,276,062
Common Stock, Shares, Issued	0	0
Common Stock, Shares, Outstanding	0	0

Restructuring (Additional Information) (Details) - USD ($) $ in Thousands		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring and other charges		$ 0	$ 0	$ 44,692
Carrying value of the operating ROU asset	$ 600	55,577	63,122	600
Impairment loss		$ 0	0	0
Impairment loss for capitalized internal use software.				700
Related liability	3,000
Return-related fees				800
Accrued balance	$ 700		500	700
Fees paid or adjusted			$ 200	100
Refund of the original purchase price related to the return of inventory held by retailers				5,700
Inventory write-off				1,500
Property and equipment [Member]
Restructuring Cost and Reserve [Line Items]
Impairment loss				13,000
Other charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring expenses				44,700
Non-cash stock-based compensation expense.				900
Return-related fees				800
Other charges [Member] \| Additions to restructuring plan [Member]
Restructuring Cost and Reserve [Line Items]
Impairment loss				12,600
Other charges [Member] \| Property and equipment [Member] \| Additions to restructuring plan [Member]
Restructuring Cost and Reserve [Line Items]
Impairment loss				7,000
Employee Severance [Member] \| Other charges [Member]
Restructuring Cost and Reserve [Line Items]
Employee severance and termination benefits expense				$ 5,500

Summary of Significant Accounting Policies - Schedule of Customer Accounting of Segment Revenue (Details) - USD ($)
$ in Thousands

12 Months Ended

Mar. 31, 2022

Mar. 31, 2021

Mar. 31, 2020

Customer C | Consumer And Research Services

$ 271,893

$ 243,920

$ 305,463

Customer C | Consumer And Research Services | Revenue Benchmark [Member] | Customer Concentration Risk [Member]

^[1]

$ 53,875

$ 51,786

$ 76,087

Customer B | Consumer And Research Services

^[1]

20.00%

21.00%

25.00%

Customer B | Consumer And Research Services | Revenue Benchmark [Member] | Customer Concentration Risk [Member]

^[2]

$ 46,064

$ 39,917

$ 23,768

Customer B | Therapeutics

^[2]

17.00%

16.00%

8.00%

Customer B | Therapeutics | Revenue Benchmark [Member] | Customer Concentration Risk [Member]

^[2]

$ 2,981

Customer E | Therapeutics

^[2]

0.00%

54.00%

Customer E | Therapeutics | Revenue Benchmark [Member] | Customer Concentration Risk [Member]

^[2]

$ 54

$ 2,575

Net Loss Per Share Attributable to Common Stockholders

^[2]

0.00%

100.00%

46.00%

[1]	Customer C revenues are primarily in the United States.
[2]	Customer B revenues are in the U.K. and Customer E is in a region other than the United States, U.K., or Canada.

Income Taxes - Schedule of Provision Related To Income Taxes (Details)	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Statutory federal tax expense rate	21.00%	21.00%	21.00%
Non-deductible stock-based compensation	(3.00%)	(7.00%)	(2.00%)
Fair Market Value adjustment on Warrants	3.00%
Change in valuation allowance related to acquisition	2.00%
Change in valuation allowance	(20.00%)	(14.00%)	(19.00%)
Other	(2.00%)
Effective Income Tax Rate Reconciliation, Percent, Total	2.00%	0.00%	0.00%

Equity Incentive Plans and Stock-Based Compensation - Summary of the Value Stock Options (Details)	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term	3 years 3 months 18 days	4 years	5 years
Volatility	72.00%	61.00%	53.00%
Risk-free rate	1.00%	0.20%	0.60%
Dividend yield	0.00%	0.00%	0.00%
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term	6 years 1 month 6 days	6 years 1 month 6 days	6 years 1 month 6 days
Volatility	75.00%	68.00%	62.00%
Risk-free rate	2.50%	0.50%	2.20%
Dividend yield	0.00%	0.00%	0.00%

Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Previously Reported [Member]	Common Stock [Member]	Common Stock [Member] Previously Reported [Member]	Common Stock [Member] Recapitalization [Member]	Preferred Stock [Member] Redeemable Convertible Preferred Stock [Member]	Preferred Stock [Member] Redeemable Convertible Preferred Stock [Member] Previously Reported [Member]	Preferred Stock [Member] Redeemable Convertible Preferred Stock [Member] Recapitalization [Member]	Preferred Stock [Member] Series F-1 [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member] Previously Reported [Member]	Additional Paid-in Capital [Member] Recapitalization [Member]	Accumulated Other Comprehensive Income Loss	Accumulated Deficit [Member]	Accumulated Deficit [Member] Previously Reported [Member]
Recapitalization					$ 9							$ (9)
Recapitalization Shares					54,236,376			111,831,592
Beginning Balance at Mar. 31, 2019	$ (441,282)	$ (441,282)	$ 9	$ 0		$ 755,083	$ 755,083			$ 101,465	$ 101,474			$ (542,756)	$ (542,756)
Beginning Balance, Shares at Mar. 31, 2019			96,159,892	41,923,516		198,274,933	86,443,341
Issuance of common stock upon exercise of stock options	8,732									8,732
Issuance of common stock upon exercise of stock options, Shares			5,492,907
Vesting Early Exercised Stock Options	16,962									16,962
Stock-based compensation expense	45,568									45,568
Other comprehensive loss	0
Net loss	(250,863)													(250,863)
Ending Balance at Mar. 31, 2020	(620,883)	$ (45,568)	$ 9			$ 755,083				172,727	$ 45,568			(793,619)
Ending Balance, Shares at Mar. 31, 2020			101,652,799			198,274,933
Issuance of common stock upon exercise of stock options	29,092		$ 1							29,091
Issuance of common stock upon exercise of stock options, Shares			11,768,079
Issuance of Series F-1 redeemable convertible preferred stock at $17.35 per share, net of issuance costs of $232									$ 82,268
Issuance of Series F-1 redeemable convertible preferred stock at $17.35 per share, net of issuance costs of $232, Shares									10,906,922
Issuance of common stock related to early exercise of stock options, shares			11,108,906
Vesting Early Exercised Stock Options	91,046		$ 2							91,044
Stock-based compensation expense	88,745									88,745
Other comprehensive loss	0
Net loss	(183,619)													(183,619)
Ending Balance at Mar. 31, 2021	(595,619)		$ 12			$ 837,351				381,607				(977,238)
Ending Balance, Shares at Mar. 31, 2021			124,529,784			209,181,855
Preferred stock conversion	837,351		$ 21			$ (837,351)				837,330
Preferred stock conversion, shares			(209,181,855)			209,181,855
Issuance of common stock for acquisition of business	322,845		$ 3							322,842
Issuance of common stock for acquisition of business, Shares			30,572,268
Issuance of Common Stock for Class A Common Stock Warrant Exercise	42,356		$ 1							42,355
Issuance of Common Stock for Class A Common Stock Warrant Exercise, Shares			6,016,347
Issuance of common stock upon Merger	200,579		$ 5							200,574
Issuance Of Common Stock Upon Merger			46,901,747
Issuance of PIPE shares	250,000		$ 3							249,997
Issuance of PIPE shares, shares			25,000,000
Issuance of common stock upon exercise of stock options	$ 16,831									16,831
Issuance of common stock upon exercise of stock options, Shares	5,808,526		5,808,526
Vesting Early Exercised Stock Options	$ 0
Stock-based compensation expense	58,624									58,624
Issuance of common stock upon release of RSUs			801,794
Other comprehensive loss	179												$ 179
Net loss	(217,490)													(217,490)
Ending Balance at Mar. 31, 2022	$ 915,656		$ 45							$ 2,110,160			$ 179	$ (1,194,728)
Ending Balance, Shares at Mar. 31, 2022			448,812,321

Net Loss Per Share Attributable to Common Stockholders

12 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

16. Net Loss Per Share Attributable to Common Stockholders

Prior to the Merger and prior to effecting the recapitalization, the net loss attributable to common stockholders was allocated based on the contractual participation rights of the 23andMe, Inc. Class A and 23andMe, Inc. Class B common stock. As the liquidation and dividend rights of 23andMe, Inc. Class A and 23andMe, Inc. Class B common stock are identical, the net loss attributable to common stockholders is allocated on a proportionate basis, and the resulting net loss per share is identical for 23andMe, Inc. Class A and 23andMe, Inc. Class B common stock under the two-class method. Earnings per share calculations for all periods prior to the Merger have been retrospectively restated to the equivalent number of shares reflecting the exchange ratio established in the reverse capitalization. Shares issued on early exercise, or issued but subject to vesting, are not included within weighted average shares outstanding for the period.

Subsequent to the Merger, the Company continues to have two classes of common stock: Class A and Class B common stock. Similar to the previous structure, 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, 2022 and 2021.

The Company’s redeemable convertible preferred stock, stock options, early exercised stock options, restricted stock units, and restricted stock awards subject to vesting 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 antidilutive.

Net loss attributable to common stockholders is 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,
	2022						2021						2020
	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	$	(68,620	)	$	(148,870	)	$	(37,070	)	$	(146,549	)	$	(49,094	)	$	(201,769	)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted		114,064,921			247,463,198			20,121,419			79,539,367			17,261,145			70,940,192
Net loss per share attributable to common stockholders, basic and diluted	$	(0.60	)	$	(0.60	)	$	(1.84	)	$	(1.84	)	$	(2.84	)	$	(2.84	)

The potential shares of 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 are as follows:


	As of March 31,
	2022				2021				2020
	Class A		Class B		Class A		Class B		Class A		Class B
Conversion of redeemable convertible preferred stock		—		—		—		209,181,855		—		198,274,933
Outstanding stock options		73,609,565		—		18,116,302		49,261,103		—		68,392,497
Issuance of common stock upon early exercise of options (unvested)		—		—		—		—		—		8,739,945
Restricted stock units		10,676,378		—		—		—		—		—
Employee Stock Purchase Plan		2,239,756		—		—		—		—		—
Shares subject to vesting		3,512,839		—		—		—		—		—
Total		90,038,538		—		18,116,302		258,442,958		—		275,407,375

Subsequent Events

12 Months Ended

Mar. 31, 2022

Subsequent Events [Abstract]

Subsequent Events

18. Subsequent Events

The Company has evaluated subsequent events from the balance sheet date through May 27, 2022, the date at which the consolidated financial statements were available to be issued.

Acquisitions

12 Months Ended

Mar. 31, 2022

Business Combinations [Abstract]

Acquisitions

4. Acquisitions

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 purchase price allocation was prepared as of November 1, 2021 and may be subject to further adjustments for tax and contingent liabilities. The Company has not filed its tax returns or finalized its evaluation of its ability to utilize net operating loss carryforwards which may be subject to annual limitations provided by Section 382 of the Code. The Company may identify liabilities if new information is obtained related to facts and circumstances that existed as of the acquisition date.

Lemonaid Health, Inc.

On November 1, 2021, the Company completed the Lemonaid Acquisition and acquired all of the outstanding equity of Lemonaid Health pursuant to the Lemonaid Health Merger Agreement. 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 closing date, the fair value of the pre-combination 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 approximately $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).

The purchase price consideration excludes 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 is recognized as selling, general, and administrative expenses post-acquisition. See Note 14, “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 following is an estimate of the allocation of the consideration transferred to acquired identifiable assets and assumed liabilities, net of cash acquired, in the Lemonaid Acquisition as of November 1, 2021:


	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 were 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 were 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 expense for fiscal year ended March 31, 2022 was $7.3 million.

The excess of the consideration paid over the fair value of the net assets acquired is recorded as goodwill. The acquired goodwill of $351.7 million is assigned to the Consumer and Research Services segment and represents 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. The goodwill recognized upon acquisition is not expected to be deductible for U.S. or U.K. 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 are partially offset with 23andMe’s 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. The Company has a remaining foreign deferred tax liability of $3.1 million.

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, 2019. 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, 2019.


	Year Ended March 31,
	2022			2021			2020
	(in thousands)
Pro forma revenue (1)	$	295,025		$	271,532		$	322,393
Pro forma net loss (1)	$	(241,382	)	$	(237,162	)	$	(299,199	)

(1)

As if the acquisition of Lemonaid was consummated on April 1, 2019.

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.

Summary of Significant Accounting Policies - Summary of Revenue by Category (Details) - USD ($)
$ in Thousands

12 Months Ended

Mar. 31, 2022

Mar. 31, 2021

Mar. 31, 2020

$ 271,893

$ 243,920

$ 305,463

PGS

PGS | Point in time [Member]

202,681

197,525

271,639

189,703

191,066

263,679

PGS | Over Time [Member]

12,978

6,459

7,960

Telehealth

Telehealth | Point in time [Member]

19,207

^[1]

Telehealth | Over Time [Member]

15,299

^[1]

3,908

^[1]

Consumer services

Consumer services | Point in time [Member]

221,888

197,525

271,639

Consumer services | Over Time [Member]

205,002

191,066

263,679

16,886

6,459

7,960

Research Services

Research Services | Point in time [Member]

50,005

46,341

28,268

Research Services | Over Time [Member]

Therapeutics

Therapeutics | Point in time [Member]

5,556

Therapeutics | Over Time [Member]

5,556

Service

Service | Point in time [Member]

271,893

243,920

305,463

Service | Over Time [Member]

205,002

191,120

269,235

Product Concentration Risk [Member] | Revenue Benchmark [Member] | PGS

$ 66,891

$ 52,800

$ 36,228

Product Concentration Risk [Member] | Revenue Benchmark [Member] | PGS | Point in time [Member]

75.00%

81.00%

89.00%

Product Concentration Risk [Member] | Revenue Benchmark [Member] | PGS | Over Time [Member]

70.00%

78.00%

86.00%

Product Concentration Risk [Member] | Revenue Benchmark [Member] | Telehealth

5.00%

3.00%

Product Concentration Risk [Member] | Revenue Benchmark [Member] | Telehealth | Point in time [Member]

7.00%

^[1]

0.00%

Product Concentration Risk [Member] | Revenue Benchmark [Member] | Telehealth | Over Time [Member]

6.00%

^[1]

0.00%

Product Concentration Risk [Member] | Revenue Benchmark [Member] | Consumer services

1.00%

^[1]

0.00%

Product Concentration Risk [Member] | Revenue Benchmark [Member] | Consumer services | Point in time [Member]

82.00%

81.00%

89.00%

Product Concentration Risk [Member] | Revenue Benchmark [Member] | Consumer services | Over Time [Member]

76.00%

78.00%

86.00%

Product Concentration Risk [Member] | Revenue Benchmark [Member] | Research Services

6.00%

3.00%

Product Concentration Risk [Member] | Revenue Benchmark [Member] | Research Services | Point in time [Member]

18.00%

19.00%

9.00%

Product Concentration Risk [Member] | Revenue Benchmark [Member] | Research Services | Over Time [Member]

0.00%

Product Concentration Risk [Member] | Revenue Benchmark [Member] | Therapeutics

18.00%

19.00%

9.00%

Product Concentration Risk [Member] | Revenue Benchmark [Member] | Therapeutics | Point in time [Member]

0.00%

2.00%

Product Concentration Risk [Member] | Revenue Benchmark [Member] | Therapeutics | Over Time [Member]

0.00%

2.00%

Product Concentration Risk [Member] | Revenue Benchmark [Member] | Service

0.00%

Product Concentration Risk [Member] | Revenue Benchmark [Member] | Service | Point in time [Member]

100.00%

Product Concentration Risk [Member] | Revenue Benchmark [Member] | Service | Over Time [Member]

76.00%

78.00%

88.00%

24.00%

22.00%

12.00%

[1]	For the year ended March 31, 2022, telehealth revenue included the five month period from the close of the acquisition of Lemonaid Health on November 1, 2021 through March 31, 2022.

Consolidated Balance sheets - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Current assets:
Cash	$ 553,182	$ 282,489
Restricted cash	1,599	1,399
Accounts receivable, net	3,380	2,481
Inventories	10,789	6,239
Deferred cost of revenue	7,700	5,482
Prepaid expenses and other current assets	25,139	15,485
Total current assets	601,789	313,575
Property and equipment, net	49,851	60,884
Operating lease right-of-use assets	55,577	63,122
Restricted cash, non-current	6,974	6,974
Internal-use software, net	9,635	6,889
Intangible assets	73,905	0
Goodwill	351,744	0
Other assets	2,593	654
Total assets	1,152,068	452,098
Current liabilities:
Accounts payable (related party amounts of $12,567 and $4,422 as of March 31, 2022 and 2021, respectively)	37,930	12,271
Accrued expenses and other current liabilities (related party amounts of $5,772 and $7,065 as of March 31, 2022 and 2021, respectively)	44,588	31,953
Deferred revenue (related party amounts of $9,181 and $30,140 as of March 31, 2022 and 2021, respectively)	62,939	71,255
Operating lease liabilities	7,784	6,140
Total current liabilities	153,241	121,619
Operating lease liabilities, noncurrent	78,524	87,582
Other liabilities	4,647	1,165
Total liabilities	236,412	210,366
Commitments and contingencies (Note 11)
Redeemable convertible preferred stock
Redeemable convertible preferred stock, $0.0001 par value per share, 10,000,000 shares authorized as of March 31, 2022, and $0.00001 par value per share, 209,512,070 shares authorized as of March 31, 2021; nil and 209,181,855 shares issued and outstanding as of March 31, 2022 and March 31, 2021, respectively; aggregate liquidation preference of nil and $874,107 as of March 31, 2021 and March 31, 2021, respectively	0	837,351
Stockholders' equity (deficit)
Common Stock - Class A shares, par value $0.0001, 1,140,000,000 and 390,921,975 shares authorized and 228,174,718 and 20,713,076 shares issued and outstanding as of March 31, 2022 and 2021, respectively; Class B shares, par value $0.0001, 350,000,000 and 380,944,977 shares authorized and 220,637,603 and 103,816,708 shares issued and outstanding as of March 31, 2022 and 2021, respectively; Class C shares, par value $0.0001, nil and 72,276,062 shares authorized and no shares issued and outstanding	45	12
Additional paid-in capital	2,110,160	381,607
Accumulated other comprehensive income	179	0
Accumulated deficit	(1,194,728)	(977,238)
Total stockholders’ equity (deficit)	915,656	(595,619)
Total liabilities and stockholders’ equity (deficit)	$ 1,152,068	$ 452,098

Income Taxes - Schedule of Provision For (Benefit From) Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Domestic	$ (221,212)	$ (183,619)	$ (250,863)
Foreign	242	0	0
Loss before income taxes	$ (220,970)	$ (183,619)	$ (250,863)

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.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Schedule of Changes in Fair Value of Warrant Liabilities

Balance Sheet Components - Summary of Other Liabilities, noncurrent (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Total other liabilities, noncurrent	$ 4,647	$ 1,165

Fair Value Measurements (Tables)

12 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

The change in the fair value of warrant liabilities is as follows:


	Warrant Liabilities
	(in thousands)
Balance at March 31, 2021	$	—
Assumption of Private Placement Warrants and Public Warrants		75,415
Redeemed/exercised warrants		(42,426	)
Change in fair value of warrant liabilities		(32,989	)
Balance at March 31, 2022	$	—

Variable Interest Entities (Additional Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Change of Nominee Prior Notice Period Days	180 days
Aggregate carrying value of assets	$ 1,152,068	$ 452,098
Aggregate Carrying Value of total liabilities	236,412	210,366
Recognized revenue	271,893	243,920	$ 305,463
Net loss	(217,490)	$ (183,619)	$ (250,863)
VIE [Member]
Aggregate carrying value of assets	11,200
Aggregate Carrying Value of total liabilities	13,300
Recognized revenue	19,400
Net loss	$ 2,100

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.

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Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies - Schedule of outstanding non-cancelable purchase obligations (Details) $ in Thousands	Mar. 31, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2023	$ 22,186
2024	26,977
2025	15,181
2026	728
Total	$ 65,072

Net Loss per Share Attributable to Common Stockholders - Common Stock Equivalents Excluded from Calculation of Diluted Net Loss Per Share (Details) - shares	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Class A Common Stock [Member]
Earnings Per Share Basic [Line Items]
Outstanding stock options	90,038,538	18,116,302	0
Class A Common Stock [Member] \| Stock Option Activity [Member]
Earnings Per Share Basic [Line Items]
Outstanding stock options	73,609,565	18,116,302	0
Class A Common Stock [Member] \| Redeemable Convertible Preferred Stock [Member]
Earnings Per Share Basic [Line Items]
Outstanding stock options	0	0	0
Class A Common Stock [Member] \| Issuance Of Common Stock Upon Early Exercise Of Options Unvested [Member]
Earnings Per Share Basic [Line Items]
Outstanding stock options	0	0	0
Class A Common Stock [Member] \| Restricted Stock Units [Member]
Earnings Per Share Basic [Line Items]
Outstanding stock options	10,676,378	0	0
Class A Common Stock [Member] \| Shares subject to vesting [Member]
Earnings Per Share Basic [Line Items]
Outstanding stock options	3,512,839	0	0
Class A Common Stock [Member] \| Employee Stock Purchase Plan [Member]
Earnings Per Share Basic [Line Items]
Outstanding stock options	2,239,756	0	0
Class B Common Stock [Member]
Earnings Per Share Basic [Line Items]
Outstanding stock options	0	258,442,958	275,407,375
Class B Common Stock [Member] \| Stock Option Activity [Member]
Earnings Per Share Basic [Line Items]
Outstanding stock options	0	49,261,103	68,392,497
Class B Common Stock [Member] \| Redeemable Convertible Preferred Stock [Member]
Earnings Per Share Basic [Line Items]
Outstanding stock options	0	209,181,855	198,274,933
Class B Common Stock [Member] \| Issuance Of Common Stock Upon Early Exercise Of Options Unvested [Member]
Earnings Per Share Basic [Line Items]
Outstanding stock options	0	0	8,739,945
Class B Common Stock [Member] \| Restricted Stock Units [Member]
Earnings Per Share Basic [Line Items]
Outstanding stock options	0	0	0
Class B Common Stock [Member] \| Shares subject to vesting [Member]
Earnings Per Share Basic [Line Items]
Outstanding stock options	0	0	0
Class B Common Stock [Member] \| Employee Stock Purchase Plan [Member]
Earnings Per Share Basic [Line Items]
Outstanding stock options	0	0	0

Commitments and Contingencies

12 Months Ended

Mar. 31, 2022

Commitments and Contingencies

11. Commitments and Contingencies

Non-cancelable Purchase Obligations

In the normal course of business, the Company enters into non-cancelable purchase commitments with various parties for purchases. As of March 31, 2022, the Company had outstanding non-cancelable purchase obligations with a term of 12 months or longer totaling as follows (in thousands):


Fiscal years ending March 31,
2023	$	22,186
2024		26,977
2025		15,181
2026		728
Total	$	65,072

The amounts purchased under the non-cancelable purchase obligations were $26.3 million, $20.6 million and $32.4 million for the fiscal years ended March 31, 2022, 2021 and 2020, respectively.

Legal Matters

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.

On December 10, 2019, Celmatix Inc. (“Celmatix”) filed a lawsuit in the Supreme Court of the State of New York against the Company asserting claims against the Company for breach of contract and the implied covenant of good faith and fair dealing and tortious interference with contract and prospective economic advantage, alleging damages that, according to the compliant, plaintiff “believed to be in excess of $100 million.” On February 14, 2020, the Company filed its answer, denying all of the material allegations of the complaint and asserting counterclaims against Celmatix for breach of contract. Celmatix amended its complaint on July 13, 2021, asserting an additional claim against the Company for fraudulent inducement of contract. On July 19, 2021, the Company filed its answer to the amended complaint, denying all of the material allegations and asserting a counterclaim and an additional defense of fraudulent inducement of contract. On October 29, 2021, both parties made motions for partial summary judgment in their favor. Briefing of the parties’ respective motions was completed in December 2021. On March 30, 2022, the Company and Celmatix agreed to a settlement, pursuant to which the Company made a payment of $10.0 million net of insurance coverage and all claims and counter-claims were released. The parties filed a Stipulation of Dismissal and Discontinuance with Prejudice on April 22, 2022. On April 25, 2022, the presiding judge entered an order noting that the motions for summary judgment are moot, canceling all future appearances and marking the case as disposed. As a result of the settlement, the Company has recorded a net loss on litigation settlement of $10.0 million in general and administrative expenses on the consolidated statements of operations and comprehensive loss.

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. To date, there have been no claims under these indemnification provisions.

Organization and Description of Business

12 Months Ended

Mar. 31, 2022

Organization, Consolidation and Presentation of Financial Statements

1. Organization and Description of Business

23andMe Holding Co. (the “Company”) is dedicated to helping people access, understand, and benefit from the human genome. The Company pioneered direct-to-consumer genetic testing through its Personal Genome Service® (“PGS”) products and services. Customers receive reports that provide them with information on their genetic health risks, their ancestry, and their traits, based on genetic testing of a saliva sample they send to the Company in an easy-to-use “spit kit” provided by the Company. Customers have the option to participate in the Company’s research programs. The Company analyzes consenting customers’ genotypic and phenotypic data to discover new insights into genetics. The Company uses these insights to generate new PGS reports, and, through its therapeutics business and collaborations with pharmaceutical companies, nonprofit institutions and universities, to discover and advance new therapies for unmet medical needs. 23andMe, Inc., the Company’s accounting predecessor, was incorporated in Delaware in 2006. The Company is headquartered in South San Francisco, California.

On November 1, 2021, the Company completed its acquisition (the “Lemonaid Acquisition”) of Lemonaid Health, Inc. ("Lemonaid" or “Lemonaid Health”), pursuant to that certain Agreement and Plan of Merger and Reorganization (the “Lemonaid Health Merger Agreement”), dated as of October 21, 2021. Lemonaid Health offers patients 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 to deliver quality patient care. Lemonaid Health’s telehealth platform provides patients with easy access to medical consultation and treatment, which enhances the Company's ability to bring better healthcare and wellness offerings to patients. See Note 4, “Acquisitions,” for additional details.

On June 16, 2021 (the “Closing Date”), the Company consummated the transactions (the “Merger”) contemplated by the Agreement and Plan of Merger, dated February 4, 2021, as amended on February 13, 2021 and March 25, 2021, by and among VG Acquisition Corp., a blank check company incorporated as a Cayman Islands exempted company in 2020 (“VGAC”), Chrome Merger Sub, Inc., a Delaware corporation and wholly owned direct subsidiary of VGAC (the “Merger Sub”), and 23andMe, Inc. (the “Merger Agreement”). 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”). On the Closing Date, Merger Sub merged with and into 23andMe, Inc., with 23andMe, Inc. being the surviving corporation and a wholly owned subsidiary of the Company (together with the Merger and the Domestication, the “Business Combination”).

The transaction was accounted for as a reverse recapitalization with 23andMe, Inc. being the accounting acquirer and VGAC as the acquired company for accounting purposes. Accordingly, all historical financial information presented in the consolidated financial statements represents the accounts of 23andMe, Inc. and its wholly owned subsidiary. The shares and net loss per common share prior to the Merger have been retroactively restated as shares reflecting the exchange ratio established in the Merger (each outstanding share of 23andMe, Inc. Class A common stock was exchanged for 2.293698169 shares of the Company’s Class A common stock, and each outstanding share of 23andMe, Inc. Class B common stock, including all shares of 23andMe, Inc. preferred stock (which were converted to shares of 23andMe, Inc. Class B common stock immediately prior to the Merger), was exchanged for 2.293698169 shares of the Company’s Class B common stock).

Prior to the Business Combination, VGAC’s units, public shares, and public warrants were listed on the New York Stock Exchange under the symbols “VGAC.U,” “VGAC,” and “VGAC WS,” respectively. On June 17, 2021, the Company’s Class A common stock and public warrants began trading on The Nasdaq Global Select Market (“Nasdaq”), under the symbols “ME” and “MEUSW,” respectively. See Note 3, “Recapitalization,” for additional details.

Net Loss Per Share Attributable to Common Stockholders (Tables)

12 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted


	Year Ended March 31,
	2022						2021						2020
	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	$	(68,620	)	$	(148,870	)	$	(37,070	)	$	(146,549	)	$	(49,094	)	$	(201,769	)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted		114,064,921			247,463,198			20,121,419			79,539,367			17,261,145			70,940,192
Net loss per share attributable to common stockholders, basic and diluted	$	(0.60	)	$	(0.60	)	$	(1.84	)	$	(1.84	)	$	(2.84	)	$	(2.84	)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share


	As of March 31,
	2022				2021				2020
	Class A		Class B		Class A		Class B		Class A		Class B
Conversion of redeemable convertible preferred stock		—		—		—		209,181,855		—		198,274,933
Outstanding stock options		73,609,565		—		18,116,302		49,261,103		—		68,392,497
Issuance of common stock upon early exercise of options (unvested)		—		—		—		—		—		8,739,945
Restricted stock units		10,676,378		—		—		—		—		—
Employee Stock Purchase Plan		2,239,756		—		—		—		—		—
Shares subject to vesting		3,512,839		—		—		—		—		—
Total		90,038,538		—		18,116,302		258,442,958		—		275,407,375

Recapitalization

12 Months Ended

Mar. 31, 2022

Restructuring and Related Activities [Abstract]

Recapitalization

3. 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 and 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 12, “Redeemable Convertible Preferred Stock” and Note 13, “Common Stock and Warrants,” 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. As of March 31, 2022, the Company did not meet any thresholds for the shares to be released from lock-up. The Founders 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, 2022, 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.

Balance Sheet Components - Summary of Intangible Assets, Net (Details) $ in Thousands	12 Months Ended
	Mar. 31, 2022 USD ($)
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 81,500
Accumulated amortization	(7,595)
Finite-Lived Intangible Assets, Net, Total	$ 73,905
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	1 year 7 months 6 days
Gross Carrying Amount	$ 14,900
Accumulated amortization	(3,104)
Finite-Lived Intangible Assets, Net, Total	$ 11,796
Partnerships [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	6 years 7 months 6 days
Gross Carrying Amount	$ 23,200
Accumulated amortization	(1,558)
Finite-Lived Intangible Assets, Net, Total	$ 21,642
Trademark [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	4 years 7 months 6 days
Gross Carrying Amount	$ 11,000
Accumulated amortization	(917)
Finite-Lived Intangible Assets, Net, Total	$ 10,083
Developed Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	6 years 7 months 6 days
Gross Carrying Amount	$ 24,100
Accumulated amortization	(1,436)
Finite-Lived Intangible Assets, Net, Total	$ 22,664
Noncompete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	4 years 7 months 6 days
Gross Carrying Amount	$ 2,800
Accumulated amortization	(233)
Finite-Lived Intangible Assets, Net, Total	$ 2,567
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	6 years 4 months 24 days
Gross Carrying Amount	$ 5,500
Accumulated amortization	(347)
Finite-Lived Intangible Assets, Net, Total	$ 5,153

Summary of Significant Accounting Policies - Schedule of Company Revenue and Adjusted EBITDA by Segment (Details) - USD ($)
$ in Thousands

12 Months Ended

Mar. 31, 2022

Mar. 31, 2021

Mar. 31, 2020

Segment Revenue

$ 271,893

$ 243,920

$ 305,463

(150,740)

(76,525)

(147,188)

Interest (income) expense, net

(217,490)

(183,619)

(250,863)

Adjustments

(277)

(255)

(6,244)

Other (income) expense, net

(1,322)

(1,340)

Change in fair value of warrant liabilities

(32,989)

Income tax benefit

(3,480)

Depreciation and Amortization

18,899

20,246

22,610

Amortization Of Acquired Intangible Assets

7,269

Stock-based compensation expense

57,933

88,425

44,838

Stock-based compensation expense

43,957

Restructuring and other charges (1)

^[1]

44,692

Acquisition-related costs(2)

^[2]

9,362

Litigation settlement (3)

^[3]

9,950

Consumer And Research Services [Member]

(150,740)

(76,525)

(147,188)

Segment Revenue

271,893

243,866

299,907

(30,112)

12,796

(65,845)

Therapeutics

Segment Revenue

5,556

Unallocated Corporate [Member]

(76,944)

(58,734)

(52,883)

Share-based Payment Arrangement [Abstract]

$ (43,684)

$ (30,587)

$ (28,460)

[1]	For the year ended March 31, 2020, restructuring includes $0.9 million of stock-based compensation expense related to restructuring activities.
[2]	For the fiscal year ended March 31, 2022, acquisition-related costs primarily consisted of advisory, legal and consulting fees related to the Lemonaid Acquisition
[3]	For the fiscal year ended March 31, 2022, litigation settlement is litigation cost net of insurance recoveries, which is not expected to occur on a recurring basis and not part of the Company's normal and continued business activity.

Equity Incentive Plans and Stock-Based Compensation

12 Months Ended

Mar. 31, 2022

Equity Incentive Plans and Stock-Based Compensation

14. Equity Incentive Plans and Stock-Based Compensation

Equity Incentive Plans

In 2006, 23andMe, Inc. established its 2006 Equity Incentive Plan, as amended (the “2006 Plan”), which provides for the grant of stock options and restricted stock to its employees, directors, officers, and consultants. The 2006 Plan allows for time-based or performance-based vesting for the awards. The 2006 Plan has been amended and restated at various times since its adoption. As of March 31, 2022, there have been no performance-based awards granted under the 2006 Plan.

On June 10, 2021, at an extraordinary general meeting of shareholders of VGAC (the “VGAC Shareholder Meeting”), 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. 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.

The 2021 Plan authorizes the issuance or transfer of up to 136,000,000 shares of Class A common stock. The number of shares of Class A common stock reserved for issuance under the 2021 Plan will automatically increase on January 1 of each calendar year, starting in 2022, in an amount equal to (i) 22,839,019 shares of Class A common stock, (ii) 3.0% of the aggregate number of shares of Class A common stock and Class B common stock outstanding, or (iii) a lesser number of shares determined by the Company’s Board of Directors prior to the applicable January 1. In November 2021, in connection with the Lemonaid Acquisition, the Company registered an additional 2,990,386 shares of Class A common stock issuable under the 2021 Plan, which represent shares of Class A common stock issuable in exchange for outstanding options initially granted under Lemonaid Health’s 2014 Equity Incentive Plan, as amended.

Options under the 2021 Plan 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 Incentive Stock Options (“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 four years. Under the 2021 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.

In February 2022, the Compensation Committee of the Company's Board of Directors adopted an RSU conversion and deferral program for non-employee directors. The purpose of the program is to provide directors with the option to convert all or a portion of their cash compensation into an RSU award under the 2021 Plan and the opportunity to defer settlement of all or a portion of their RSU awards. As of March 31, 2022, no directors have elected to convert any of their cash compensation or defer settlement of any of their RSU awards under the program.

In March 2022, the Compensation Committee of the Company's Board of Directors adopted an annual incentive plan under the 2021 Plan (the "2022 AIP") effective April 1, 2022. The purpose of the 2022 AIP is to provide an incentive and to reward participants in the plan for achieving certain, pre-established performance targets through RSUs. The performance targets may include the Company-wide objectives and/or individual performance goals.

Stock Option Activity

Stock option activity and activity regarding shares available for grant under the 2021 Plan is 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, 2021		29,375,026		$	9.37		7.1		$	403,498
Recapitalization		38,002,437		$	(5.28	)
Balance as of March 31, 2021		67,377,463		$	4.09
Granted		14,968,952		$	4.37
Exercised		(5,808,526	)	$	2.90
Cancelled/Forfeited/Expired		(2,928,324	)	$	4.80
Balance as of March 31, 2022		73,609,565		$	4.21			6.9	$	35,979
Vested and exercisable as of March 31, 2022		42,902,557		$	3.84			5.6	$	27,504

The weighted average grant-date fair value of options granted for the fiscal years ended March 31, 2022, 2021 and 2020 was $4.44, $3.02 and $2.73 per share, respectively. The intrinsic value of vested options exercised for the fiscal years ended March 31, 2022, 2021 and 2020 was $25.6 million, $47.6 million and $19.0 million, respectively. As of March 31, 2022, unrecognized stock-based compensation cost related to unvested stock options was $104.1 million, which is expected to be recognized over a weighted-average period of 2.8 years. Due to a full 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, 2022, 2021 and 2020.

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


	Year Ended March 31,
	2022						2021						2020
	Min			Max			Min			Max			Min			Max
Expected term (years)		3.3			6.1			4.0			6.1			5.0			6.1
Expected volatility		72	%		75	%		61	%		68	%		53	%		62	%
Risk-free interest rate		1.0	%		2.5	%		0.2	%		0.5	%		0.6	%		2.2	%
Expected dividend yield		0	%		0	%		0	%		0	%		0	%		0	%

Restricted Stock Units

Under the 2006 Plan and 2021 Plan, restricted stock units (“RSUs”) may be granted to employees, non-employee directors and consultants. The RSUs 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. 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 following table summarizes the RSU activity under the equity incentive plans and related information:


	RSUs
	Unvested RSUs			Weighted-Average Grant Date Fair Value Per Share

Balance as of March 31, 2021		—			—
Granted		11,943,645		$	9.83
Vested		(801,794	)	$	10.90
Cancelled/forfeited		(465,473	)	$	11.08
Balance as of March 31, 2022		10,676,378		$	9.70

As of March 31, 2022, unrecognized stock-based compensation expense related to outstanding unvested RSUs was $96.0 million, which is expected to be recognized over a weighted-average period of 3.5 years.

Stock Subject to Vesting

In November 2021, the Company granted 3,747,027 shares of Class A common stock subject to vesting with an aggregate grant date fair value of $43.9 million in connection with the acquisition of Lemonaid Health. Vesting of the shares is contingent on each recipient’s continued employment, both of whom are part of the management team within the General and Administrative department. Accordingly, the Company has recognized stock-based compensation expense related to these awards of $4.5 million for the fiscal year ended March 31, 2022 within general and administrative expenses. The expense will be recognized over a four-year vesting period with quarterly vesting and no cliff. Unrecognized stock-based compensation expense of $39.4 million will be recognized over a weighted average period of 3.6 years.

Employee Stock Purchase Plan

On June 10, 2021, at the VGAC Shareholder Meeting, the shareholders of VGAC approved the 23andMe Holding Co. ESPP. A total of 11,420,000 shares of the Company’s Class A common stock were initially reserved for issuance under 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.

The ESPP provides for concurrent 12-month offerings with purchases each six months commencing on March 1 and September 1 of each year with purchases on August 31 and February 28 of each year. As of March 31, 2022, no shares of the Company’s Class A common stock have been purchased under the ESPP. Employees participating in the ESPP commence payroll withholdings that accumulate through the end of the respective offering period. As of March 31, 2022, $0.6 million has been withheld via employee payroll deductions for employees who have opted to participate in the purchase period ending August 31, 2022.

Stock-Based Compensation

The total share-based compensation expense related to stock options by line item in the accompanying consolidated statements of operations and comprehensive loss is summarized as follows:


	Year Ended March 31,
	2022		2021		2020
	(in thousands)
Cost of revenue	$	4,029	$	858	$	733
Research and development		26,540		21,771		16,524
Sales and marketing		5,122		4,081		3,988
General and administrative		22,242		59,986		18,932
Restructuring and other charges	—			—		881
Total stock-based compensation expense	$	57,933	$	86,696	$	41,058

Early Exercise of Common Stock Options

The 2006 Plan allows for option awards that include the right to early exercise options for shares of common stock. For the options granted to the CEO (who is a related party), the Company’s Board of Directors authorized the CEO to exercise unvested options to purchase shares of common stock. Under the terms of the 2006 Plan, any shares issued as a result of the CEO’s early exercise are subject to repurchase, at the option of the Company, at the original issuance price in the event of the CEO’s termination of service as a Service Provider (as defined in the 2006 Plan) for any reason, until the options would have been fully vested. In August 2020, the CEO was granted options for 6,881,095 shares, which were eligible for early exercise. In September 2020, the CEO exercised all 6,881,095 unvested stock options. The cash proceeds received for such exercise were $34.7 million. In February 2021, the CEO exercised an option for 11,029,071 shares of Class B common stock, including both vested and unvested shares, for a cash purchase price of $32.6 million. During the fiscal year ended March 31, 2021, the CEO exercised a total of 11,108,906 unvested stock options early for a total of $47.2 million in cash proceeds. There were no early exercises during the fiscal years ended March 31, 2022 and 2020.

In February 2021, the Board of Directors modified option awards granted to the CEO, which accelerated the vesting of all 15,621,041 unvested common shares previously purchased by the CEO. Stock-based compensation expense of $40.4 million was recorded to General and Administrative expenses which represented the recognition of the remaining unrecognized compensation expense associated with these grants as of the date of modification. As a result of the Board-approved accelerated vesting of these early exercised unvested shares, there were no early exercise liabilities as of March 31, 2022 and 2021.

As of March 31, 2022 and 2021, there was no common stock subject to repurchase. As of March 31, 2020, 8,739,945 shares of Class B common stock were subject to repurchase, at a weighted average repurchase price of $11.50 per share.

Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) (Parenthetical) $ in Thousands	12 Months Ended
	Mar. 31, 2021 USD ($) $ / shares
Series F1 Preferred Stock [Member]
Redeemable convertible preferred stock, Par Value \| $ / shares	$ 7.56
Net of issuance cost \| $	$ 232

Variable Interest Entities

12 Months Ended

Mar. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable Interest Entities

5. Variable Interest Entities

Through the acquisition of Lemonaid Health, Inc. 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.

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 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 $11.2 million and $13.3 million respectively, as of March 31, 2022. Total revenue included on the consolidated statements of operations and comprehensive loss for the VIEs after elimination of intercompany transactions was $19.4 million for the fiscal year ended March 31, 2022. Net loss included on the consolidated statements of operations and comprehensive loss was $2.1 million for the fiscal year ended March 31, 2022.

Acquisitions (Additional Information) (Details) - USD ($)

12 Months Ended

Nov. 01, 2021

Mar. 31, 2022

Mar. 31, 2021

Mar. 31, 2020

Amortization Of Intangible Assets

$ 7,600,000

Net deferred tax liability

3,095,000

Income tax benefit

(3,480,000)

$ 0

Recognized revenue

271,893,000

243,920,000

305,463,000

Class A Common Stock [Member]

(217,490,000)

(183,619,000)

(250,863,000)

Pro forma revenue

^[1]

295,025,000

271,532,000

322,393,000

Lemonaid Merger Agreement [Member]

(68,620,000)

$ (37,070,000)

$ (49,094,000)

Lemonaid Health, Inc. [Member]

Acquisition costs

$ 9,400,000

Stock based awards vested as of acquisition

8,400,000

Aggregate cash consideration for acquisition

101,900,000

Escrow deposit

13,000,000.0

Amortization Expense

7,300,000

Acquired goodwill

$ 351,700,000

Goodwill Recognized, Description

The goodwill recognized upon acquisition is not expected to be deductible for U.S. or U.K. income tax purposes.

Net deferred tax liability

$ 6,600,000

Income tax benefit

$ 3,500,000

Foreign deferred tax liability

3,100

Recognized revenue

19,200,000

Lemonaid Health, Inc. [Member] | Selling, General, and Administrative Expenses [Member]

$ 22,300,000

Purchase price excludes stock consideration shares issued subject to vest

3,747,027

Lemonaid Health, Inc. [Member] | Selling, General, and Administrative Expenses [Member] | Maximum [Member]

Lemonaid Health, Inc. [Member] | Selling, General, and Administrative Expenses [Member] | Minimum [Member]

Useful lives

7 years

Lemonaid Health, Inc. [Member] | Lemonaid Merger Agreement [Member]

Useful lives

2 years

Lemonaid Health, Inc. [Member] | Lemonaid Merger Agreement [Member] | Class A Common Stock [Member]

Purchase consideration

$ 424,700,000

Additional common shares issuable in connection with acquisition

26,825,241

Purchase consideration stock value

$ 314,400,000

[1]	As if the acquisition of Lemonaid was consummated on April 1, 2019.

Fair Value Measurements - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	Nov. 22, 2021	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Warrants Outstanding		0
Fair Value, Liabilities, Level 2 to Level 1 Transfers, Amount		$ 0.0
Public Warrants [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Exchange ratio for shares of common stock per warrant	$ 0.2516
Class of warrants or rights redemption price per warrant	$ 0.10
Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets, Fair Value, Estimated				$ 21.5
Assets, Fair Value, Discount Rate				9.00%
Assets, Fair Value Disclosure		$ 0.0	$ 0.0

Income Taxes - Schedule of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized Tax Benefits, Beginning Balance	$ 299	$ 282
Decreases in unrecognized tax benefits related to prior year tax positions	(299)	0
Increases in unrecognized tax benefits related to current year tax positions	0	17
Unrecognized Tax Benefits, Ending Balance	$ 0	$ 299

Leases - Schedule of weighted average remaining lease term and discount rate (Details)	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Leases [Abstract]
Weighted-average remaining lease term (in years)	8 years 4 months 24 days	9 years 2 months 12 days	10 years 6 months
Weighted-average discount rate	7.00%	7.00%	8.00%

Redeemable Convertible Preferred Stock - Schedule of Redeemable Convertible Preferred Stock (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Redeemable convertible preferred stock, Shares, Authorized		209,512,070
Redeemable convertible preferred stock, Shares, Issued		209,181,855
Redeemable convertible preferred stock, Shares, Outstanding	0	209,181,855
Carrying value		$ 837,351
Redeemable convertible preferred stock, Liquidation Preference		$ 874,107
Series A [Member]
Redeemable convertible preferred stock, Shares, Authorized		16,330,984
Redeemable convertible preferred stock, Shares, Issued		16,330,984
Redeemable convertible preferred stock, Shares, Outstanding		16,330,984
Carrying value		$ 8,815
Redeemable convertible preferred stock, Liquidation Preference		$ 8,953
Series B [Member]
Redeemable convertible preferred stock, Shares, Authorized		20,754,666
Redeemable convertible preferred stock, Shares, Issued		20,754,666
Redeemable convertible preferred stock, Shares, Outstanding		20,754,666
Carrying value		$ 27,643
Redeemable convertible preferred stock, Liquidation Preference		$ 27,779
Series C [Member]
Redeemable convertible preferred stock, Shares, Authorized		22,703,050
Redeemable convertible preferred stock, Shares, Issued		22,703,050
Redeemable convertible preferred stock, Shares, Outstanding		22,703,050
Carrying value		$ 30,961
Redeemable convertible preferred stock, Liquidation Preference		$ 31,179
Series D [Member]
Redeemable convertible preferred stock, Shares, Authorized		33,110,992
Redeemable convertible preferred stock, Shares, Issued		33,110,992
Redeemable convertible preferred stock, Shares, Outstanding		33,110,992
Carrying value		$ 58,274
Redeemable convertible preferred stock, Liquidation Preference		$ 58,450
Series E [Member]
Redeemable convertible preferred stock, Shares, Authorized		24,414,254
Redeemable convertible preferred stock, Shares, Issued		24,414,254
Redeemable convertible preferred stock, Shares, Outstanding		24,414,254
Carrying value		$ 114,936
Redeemable convertible preferred stock, Liquidation Preference		$ 115,246
Series F [Member]
Redeemable convertible preferred stock, Shares, Authorized		41,300,501
Redeemable convertible preferred stock, Shares, Issued		41,300,501
Redeemable convertible preferred stock, Shares, Outstanding		41,300,501
Carrying value		$ 242,168
Redeemable convertible preferred stock, Liquidation Preference		$ 250,000
Series F-1 [Member]
Redeemable convertible preferred stock, Shares, Authorized		50,897,623
Redeemable convertible preferred stock, Shares, Issued		50,567,408
Redeemable convertible preferred stock, Shares, Outstanding		50,567,408
Carrying value		$ 354,554
Redeemable convertible preferred stock, Liquidation Preference		$ 382,500

Collaborations

12 Months Ended

Mar. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Collaborations

7. 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 (“ASC 808”). 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 agreements discussed below.

GlaxoSmithKline Agreement

In July 2018, the Company and an affiliate of GSK entered into a four-year exclusive drug discovery and development collaboration agreement (the “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. The Company concluded that GSK is considered a customer. Therefore, the Company has 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 GSK Agreement, which include reporting, drug target discovery, and joint steering committee participation, represent one combined performance obligation to deliver research services. In addition, the GSK Agreement, along with subsequent amendments, provided GSK the right to include certain identified pre-existing Company programs in the collaboration at GSK’s election, each of which is considered distinct from the research services. The exercise price for the pre-existing program options varied to reflect the respective stage of development of each such program, with up to two such programs being offered for no additional charge. The two programs offered for no additional charge were material rights and therefore also identified as performance obligations within the arrangement.

In addition to cost-sharing during the performance of research services which is recorded within cost of revenue when incurred in the Consumer and Research Services segment, once drug targets have been identified for inclusion in the collaboration, the Company and GSK equally share in the costs of further research, development and commercialization of identified targets, subject to certain rights of either party to opt-out of funding at certain predetermined development milestones. These cost-sharing charges for costs incurred subsequent to the identification of drug targets have been included in research and development expense in 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.

On January 18, 2022, GSK elected to exercise its option to extend the exclusive target discovery period of the ongoing collaboration with the Company for an additional year to July 2023. The Company will receive a one-time payment of $50.0 million to extend the period.

The Company recognizes revenue related to the GSK Agreement as the performance obligation is satisfied using an input method to measure progress. The Company believes that actual hours incurred relative to projected hours is the most accurate measurement of progress for the input method. During the fiscal year ended March 31, 2022, the 23andMe and GSK joint steering committee revised the total project resources, which resulted in a reduction in the total estimated project hours. The difference between the cumulative revenue recognized based on the previous estimate and the revenue recognized based on the revised estimate was recognized as an adjustment to cumulative revenue to reflect the change in estimate. This 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.

During the fiscal years ended March 31, 2022, 2021 and 2020, the Company recognized $46.1 million, $39.9 million and $26.7 million, respectively, of research services and therapeutics revenue related to the GSK Agreement. As of March 31, 2022 and 2021, the Company had current deferred revenue related to GSK of $9.2 million and $30.1 million, respectively. As of March 31, 2022 and 2021, there was no noncurrent deferred revenue related to GSK. As of March 31, 2022 and 2021, there were no receivables and no contract assets recorded in prepaid expenses and other current assets, respectively, related to the GSK Agreement. During the fiscal years ended March 31, 2022, 2021 and 2020, cost-sharing amounts incurred subsequent to the identification of targets, included in research and development expenses, were $24.0 million, $18.7 million and $19.1 million, respectively. During the fiscal years ended March 31, 2022, 2021 and 2020, cost-sharing amounts incurred prior to the identification of targets, included in cost of revenue, were $0.3 million, $(1.4) million and $1.0 million, respectively. As of March 31, 2022 and 2021, the Company had $18.3 million and $11.5 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 in the consolidated balance sheets.

Leases - Schedule of lease costs (Details) - USD ($)
$ in Thousands

12 Months Ended

Mar. 31, 2022

Mar. 31, 2021

Mar. 31, 2020

Leases [Abstract]

Operating lease cost, net

^[1]

$ 13,640

$ 13,614

$ 10,999

Variable lease cost

6,425

5,809

4,705

Total lease cost

$ 20,065

$ 19,423

$ 15,704

[1]	For the year ended March 31, 2020, included in operating lease cost is a $4.9 million reduction to lease cost related to a lease termination.

Summary of Significant Accounting Policies

12 Months Ended

Mar. 31, 2022

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

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 subsidiary, and variable interest entities in which it holds a controlling financial interest. All intercompany accounts and transactions have been eliminated in consolidation.

During the fiscal year ended March 31, 2022, the Company’s operations were primarily in the United States. Subsequent to the closing of the Lemonaid Acquisition, the Company also had immaterial operations in the U.K.

Fiscal Year

The Company’s fiscal year ends on March 31. References to fiscal year 2022, 2021 and 2020, refer to the fiscal years ending and ended March 31, 2022, 2021 and 2020, 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; 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, as well as the Company’s common stock prior to the Closing Date of the Merger; fair value of intangible assets acquired in business combinations; 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 coronavirus (“COVID-19”) pandemic has created significant global economic uncertainty and resulted in the slowdown of economic activity. COVID-19 has disrupted the Company’s general business operations since March 2020 and the Company expects that such disruption will continue for an unknown period. As the Company continues to closely monitor the COVID-19 pandemic, its top priority remains protecting the health and safety of the Company’s employees. Safety guidelines and procedures, including social distancing and enhanced cleaning, have been developed for on-site employees and these policies are regularly monitored. In fiscal year 2020, the Company recorded impairment losses of $12.6 million to operating right-of-use (“ROU”) assets associated with the Company’s operating lease in Sunnyvale, California, as a result of foreseeable future sublease rental income reduced and delayed by the pandemic. See Note 9, “Restructuring,” for additional details. 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. Actual results could differ from those estimates and any such differences may be material to the consolidated financial statements.

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 a separate single supplier accounted for 100% of the Company’s total purchases of Kits for the fiscal years ended March 31, 2022, 2021 and 2020. One laboratory service provider accounted for 100% of the Company’s processing of customer samples for the fiscal years ended March 31, 2022, 2021 and 2020.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to a concentration of credit risk include cash and accounts receivable. The Company maintains its cash with high-quality financial institutions in the United States, 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 Revenue Recognition within Note 2, “Summary of Significant Accounting Policies,” for additional information regarding geographical disaggregation of revenue. The Company grants credit to its customers in the normal course of business, performs ongoing credit evaluations of its customers and does not require collateral. The Company regularly monitors the aging of accounts receivable balances.

Significant customer information is as follows:


	Year Ended March 31,
	2022			2021
Percentage of accounts receivable:
Customer G		44	%		0	%
Customer C		25	%		35	%
Customer F		19	%		0	%
Customer D		0	%		40	%


	Year Ended March 31,
	2022			2021			2020
Percentage of revenue:
Customer C		20	%		21	%		25	%
Customer B		17	%		16	%		8	%

Cash and Restricted Cash

Cash consists of cash in the bank and bank deposits. Cash balances are with U.S. banks and are insured to the extent defined by the Federal Deposit Insurance Corporation. The Company maintains certain cash amounts restricted as to its withdrawal or use. The Company held total restricted cash of $8.6 million and $8.4 million as of March 31, 2022 and 2021, respectively, 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.

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. Accounts receivable deemed uncollectable are charged against the estimated reserves when identified. The estimated reserves are based on the Company’s assessment of the collectability of accounts. The Company regularly reviews the adequacy of the estimated reserves based on a combination of factors, including an assessment of past collection experience, credit quality of the customer, customer’s aging balance, nature and size of the customer, the financial condition of the customer and the amount of any receivables in dispute. 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, 2022 and 2021.

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.

Impairment Losses of Deferred Cost of Revenue

The Company recognizes an impairment loss when the costs incurred to date recorded as deferred cost of revenue plus the estimated direct costs to fulfill the performance obligations under the contract exceed the amount of consideration the Company received and expects to receive in the future. For the fiscal years ended March 31, 2022 and 2021, no impairment loss was recorded. For the fiscal year ended March 31, 2020, the Company recorded an impairment loss of $1.3 million.

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 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

Costs related to software acquired, developed, or modified solely to meet the Company’s internal requirements, with no substantive plans to market such software at the time of development, and certain costs related to the direct development of the Company’s customer platform are capitalized. Costs incurred during the preliminary planning and evaluation stage of the project and during the post-implementation operational stage are expensed as incurred. Costs incurred during the application development stage of the project are capitalized and amortized using the straight-line method over the estimated useful life of two to four years. Internal-use software is reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an internal-use software asset may not be recoverable.

Goodwill and Intangible Assets

Goodwill amounts are not amortized, but rather tested for impairment at least annually or more often if circumstances indicate that the carrying value may not be recoverable. There were no impairment charges to goodwill during the fiscal years ended March 31, 2022, 2021 and 2020.

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.

Each period the Company evaluates the estimated remaining useful lives of its acquired finite-lived intangible assets and whether events or changes in circumstances warrant a revision to the remaining period of amortization. There were no impairment charges to acquired intangible assets during the fiscal years ended March 31, 2022, 2021 and 2020.

Impairment of Long-Lived Assets

The Company evaluates long-lived assets, which include depreciable tangible assets such as property and equipment, 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. The Company recognizes an impairment in the event the carrying amount of such assets exceeds the fair value attributable to such assets. During the fiscal year ended March 31, 2020, impairments to long-lived assets of $33.2 million were recorded within restructuring and other charges in the consolidated statements of operations. There was no impairment to long-lived assets during the fiscal years ended March 31, 2022 and 2021.

Leases

The Company’s lease portfolio includes leased offices, dedicated lab facility and storage space, and dedicated data center facility space, all of which are accounted for as operating leases. All lease arrangements are recognized at lease commencement. Operating lease ROU assets and operating lease liabilities are recognized at commencement based on the present value of fixed payments not yet paid over the lease term. Operating lease ROU assets represent the Company’s right to use an underlying asset during the reasonably certain lease term and operating lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets also include any initial direct costs incurred and any lease payments made at or before the lease commencement date, less lease incentives received.

When considering the future lease payments to be included in the measurement of the operating lease liabilities, the Company includes payments to be made in optional renewal periods only if it is reasonably certain to exercise the option, and will include periods covered by a termination option only if it is reasonably certain that it will not exercise such option. In addition, the Company elected not to utilize the hindsight practical expedient to determine the lease term for existing leases at adoption. The Company uses the incremental borrowing rate based on the information available at the commencement date in determining the lease liabilities as the Company’s leases generally do not provide an implicit rate. The incremental borrowing rate is estimated to approximate the interest rate on a collateralized basis with similar terms and payments, in an economic environment where the leased asset is located.

Real estate leases of office facilities are the most significant leases held by the Company. For these leases, the Company has elected the practical expedient permitted under Accounting Standards Codification (“ASC”) Topic 842, Leases ("ASC 842"), to account for the lease and non-lease components as a single lease component. As the Company enters into real estate leases, property tax, insurance, common area maintenance and utilities are generally variable lease payments that do not depend on an index or rate, and therefore, they are excluded from the lease liabilities and expensed as incurred in accordance with ASC 842. The Company reassesses the lease term if and when a significant event or change in circumstances occurs within its control. None of the Company’s lease agreements contain significant residual value guarantees, restrictions, or covenants. The Company currently does not have any finance leases.

Revenue Recognition

The Company generates revenue from its Consumer & Research Services segment, which includes revenue from PGS, telehealth, and research services, and its Therapeutics segment. In accordance with ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”), revenue is recognized when a customer obtains control of promised goods or services. The amount of revenue recognized reflects the consideration that the Company expects to receive in exchange for these goods or services.

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, 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 return patterns vary from the estimate, actual breakage revenue may differ from the amounts recorded. The Company recognized breakage revenue from unreturned Kits of $21.9 million, $24.1 million and $38.0 million for the fiscal year ended March 31, 2022, 2021 and 2020, respectively.

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.

The Company generates telehealth revenues from pharmacy fees, patient fees, and membership fees.

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. 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 and transaction fees.

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. 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 over the obligation to provide services to the patient. Revenue is recorded net of refunds, transaction fees, 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 performance obligations, which is defined as identical distinct services (daily access to the services). As such, revenue is recognized ratably over the respective membership period. The transaction price is determined to be the amount paid by the patient. 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”), which are professional entities owned by licensed physicians and that engage licensed healthcare professionals (each, a “Provider” and collectively, the “Providers”) to provide consultation services. See Note 5, “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.

Disaggregation of Revenue

The following table presents revenue by category:


	Year Ended March 31,
	2022					2021					2020
	Amount		% of Revenue			Amount		% of Revenue			Amount		% of Revenue
	(in thousands, except percentages)
Point in Time
PGS	$	189,703		70	%	$	191,066		78	%	$	263,679		86	%
Telehealth (1)		15,299		6	%		—		0	%		—		0	%
Consumer services		205,002		76	%		191,066		78	%		263,679		86	%
Research services		—		0	%		—		0	%		—		0	%
Therapeutics		—		0	%		54		0	%		5,556		2	%
Total	$	205,002		76	%	$	191,120		78	%	$	269,235		88	%

Over Time
PGS	$	12,978		5	%	$	6,459		3	%	$	7,960		3	%
Telehealth (1)		3,908		1	%		—		0	%		—		0	%
Consumer services		16,886		6	%		6,459		3	%		7,960		3	%
Research services		50,005		18	%		46,341		19	%		28,268		9	%
Therapeutics		—		0	%		—		0	%		—		0	%
Total	$	66,891		24	%	$	52,800		22	%	$	36,228		12	%

Total Revenue
PGS	$	202,681		75	%	$	197,525		81	%	$	271,639		89	%
Telehealth (1)		19,207		7	%		—		0	%		—		0	%
Consumer services		221,888		82	%		197,525		81	%		271,639		89	%
Research services		50,005		18	%		46,341		19	%		28,268		9	%
Therapeutics		—		0	%		54		0	%		5,556		2	%
Total	$	271,893		100	%	$	243,920		100	%	$	305,463		100	%

(1)

For the year ended March 31, 2022, telehealth revenue included the five month period from the close of the acquisition of Lemonaid Health on November 1, 2021 through March 31, 2022.

Within the Consumer and Research Services segment, substantially all consumer services revenue is recognized at the point in time of the initial transfer of reports to the consumer, the delivery of healthcare services to the patient, or the delivery of prescription medications to the patient. Substantially all research services revenue is recognized over time as services are performed. Substantially all Therapeutics revenue is recognized at the point in time intellectual property is transferred.

The following table summarizes revenue by region based on the shipping address of customers or the location where the services are delivered:


	Year Ended March 31,
	2022					2021					2020
	Amount		% of Revenue			Amount		% of Revenue			Amount		% of Revenue
	(in thousands, except percentages)
United States	$	192,438		71	%	$	176,120		72	%	$	241,769		79	%
United Kingdom		58,477		22	%		49,386		20	%		41,770		14	%
Canada		14,293		5	%		12,172		5	%		14,481		5	%
Other regions		6,685		2	%		6,242		3	%		7,443		2	%
International		79,455		29	%		67,800		28	%		63,694		21	%
Total	$	271,893		100	%	$	243,920		100	%	$	305,463		100	%

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 not yet billed and are included in prepaid expenses and other current assets in the consolidated balance sheets. The amount of contract assets was immaterial as of March 31, 2022 and 2021.

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 that have not been satisfied for memberships. Deferred revenue is recognized when the obligation to deliver membership services is satisfied.

As of March 31, 2022 and 2021, deferred revenue for consumer services was $51.3 million and $39.3 million, respectively. Of the $39.3 million, $38.8 million and $74.1 million of deferred revenue for consumer services as of March 31, 2021, 2020 and 2019, respectively, the Company recognized $31.9 million, $34.4 million and $59.9 million as revenue during the fiscal years ended March 31, 2022, 2021 and 2020, respectively.

As of March 31, 2022 and 2021, deferred revenue for research services was $11.6 million and $31.9 million, respectively, including related party deferred revenue amounts of $9.2 million and $30.1 million, respectively. Of the $31.9 million, $48.6 million and $48.7 million of deferred revenue for research services as of March 31, 2021, 2020 and 2019, respectively, the Company recognized $31.4 million, $42.8 million and $28.7 million as revenue during the fiscal years ended March 31, 2022, 2021 and 2020, respectively. Out of the above-mentioned $31.4 million and $42.8 million revenue recognized during the fiscal year ended March 31, 2022 and 2021, respectively, related party revenue amount was $30.1 million and $39.9 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, 2022 and 2021, the aggregate amount of the transaction price allocated to remaining performance obligations for research services was $67.8 million and $61.9 million, respectively. These amounts are expected to be recognized over a remaining subsequent period of approximately 1 to 2 years from the reporting date.

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 $54.7 million, $11.2 million and $62.6 million for the fiscal years ended March 31, 2022, 2021 and 2020, 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 $0.7 million as of March 31, 2022 and immaterial as of March 31, 2021. 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 is 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. The fair value of each restricted stock unit (“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 judgement. 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.

The Company’s Employee Stock Purchase Plan (“ESPP”) permits all regular 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. See Note 14, “Equity Incentive Plans and Stock-Based Compensation,” for additional details.

Restructuring Expense

The Company defines restructuring expense to include costs directly associated with exit or disposal activities. Such costs include employee severance and termination benefits, contract termination fees and penalties, impairment associated with long-lived assets, and other exit or disposal costs. In general, the Company records involuntary employee-related exit and disposal costs when there is a substantive plan for employee severance and related costs are probable and estimable. For one-time termination benefits (i.e., no substantive plan) and employee retention costs, expense is recorded when the employees are entitled to receive such benefits and the amount can be reasonably estimated. Contract termination fees and penalties, and other exit and disposal costs are generally recorded as incurred.

Warrant Liabilities

The Company classified the Private Placement Warrants and the Public Warrants (both defined and discussed in Note 13, “Common Stock and Warrants” and, collectively, the “Warrants”) as liabilities. At the end of each reporting period, changes in fair value during the period were recognized as change in fair value of warrant liabilities within the consolidated statements of operations and comprehensive loss. The Company adjusted the warrant liability for changes in the fair value until the earlier of (a) the exercise or expiration of the Warrants or (b) the redemption of the Warrants, at which time the Warrants were reclassified to additional paid-in capital.

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 15, “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. The functional currency of the Company’s foreign subsidiary is 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 nonmonetary 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. The Company’s changes in foreign currency translation represents the components of other comprehensive income 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 unvested common stock 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.

Segment Information

The Company currently operates in two reporting segments: Consumer & Research Services and Therapeutics. The Consumer & 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 GSK Agreement (as defined below)). 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 & Research Services segment. See Revenue Recognition within Note 2, “Summary of Significant Accounting Policies,” for additional information regarding revenue. There are no inter-segment sales.

Certain expenses such as Finance, Legal, Regulatory and Supplier Quality, 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 defined as net income before net interest expense (income), net other expense (income), changes in fair value of warrant liabilities, income tax benefit, depreciation and amortization of fixed assets, amortization of internal use software, amortization of acquired intangible assets, non-cash stock-based compensation expense, acquisition-related costs, litigation settlements not related to normal and continued business activities and expenses related to restructuring and other charges, if applicable for the period.

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- and long-term operating plans. In particular, the exclusion of the items eliminated in calculating Adjusted EBITDA provides useful measures for period-to-period comparisons of the Company’s business. Accordingly, Adjusted EBITDA provides useful information in understanding and evaluating the Company’s operating results in the same manner as management and the Board of Directors. Adjusted EBITDA should not be considered in isolation of, or as an alternative to, measures prepared in accordance with GAAP. Other companies, including companies in the Company’s industry, may calculate similarly-titled non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of Adjusted EBITDA as a tool for comparison. There are a number of limitations related to the use of these non-GAAP financial measures rather than net loss, which is the most directly comparable financial measure calculated in accordance with GAAP.

Some of the limitations of Adjusted EBITDA include (i) Adjusted EBITDA does not properly reflect capital commitments to be paid in the future, and (ii) although depreciation and amortization are non-cash charges, the underlying assets may need to be replaced and Adjusted EBITDA does not reflect these capital expenditures. In evaluating Adjusted EBITDA, the Company will incur expenses similar to the adjustments in this presentation in the future. The presentation of Adjusted EBITDA should not be construed as an inference that the Company’s future results will be unaffected by these expenses or any unusual or non-recurring items. When evaluating the Company’s performance, Adjusted EBITDA should be considered alongside other financial performance measures, including net loss and other GAAP results.

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


	Year Ended March 31,
	2022			2021			2020
	(in thousands)
Segment Revenue
Consumer and Research Services	$	271,893		$	243,866		$	299,907
Therapeutics		—			54			5,556
Total Revenue	$	271,893		$	243,920		$	305,463
Segment Adjusted EBITDA
Consumer and Research Services Adjusted EBITDA	$	(30,112	)	$	12,796		$	(65,845	)
Therapeutics Adjusted EBITDA		(76,944	)		(58,734	)		(52,883	)
Unallocated Corporate		(43,684	)		(30,587	)		(28,460	)
Total Adjusted EBITDA	$	(150,740	)	$	(76,525	)	$	(147,188	)

Reconciliation of net loss to Adjusted EBITDA
Net Loss	$	(217,490	)	$	(183,619	)	$	(250,863	)
Adjustments:
Interest (income) expense, net		(277	)		(255	)		(6,244	)
Other (income) expense, net		83			(1,322	)		(1,340	)
Change in fair value of warrant liabilities		(32,989	)		—			—
Income tax benefit		(3,480	)		—			—
Depreciation and amortization		18,899			20,246			22,610
Amortization of acquired intangible assets		7,269			—			—
Stock-based compensation expense		57,933			88,425			43,957
Restructuring and other charges (1)		—			—			44,692
Acquisition-related costs (2)		9,362			—			—
Litigation settlement (3)		9,950			—			—
Total Adjusted EBITDA	$	(150,740	)	$	(76,525	)	$	(147,188	)

(1)

For the year ended March 31, 2020, restructuring includes $0.9 million of stock-based compensation expense related to restructuring activities.

(2)

For the fiscal year ended March 31, 2022, acquisition-related costs primarily consisted of advisory, legal and consulting fees related to the Lemonaid Acquisition.

(3)

For the fiscal year ended March 31, 2022, litigation settlement is litigation cost net of insurance recoveries, which is not expected to occur on a recurring basis and not part of the Company's normal and continued business activity.

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


	Year Ended March 31,
	2022				2021				2020
	(in thousands, except percentages)
Consumer and Research Services Segment Revenue:
Customer C(1)	$	53,875	20	%	$	51,786	21	%	$	76,087	25	%
Customer B(2)	$	46,064	17	%	$	39,917	16	%	$	23,768	8	%
Therapeutics Segment Revenue:
Customer B(2)	$	—	0	%	$	—	0	%	$	2,981	54	%
Customer E(2)	$	—	0	%	$	54	100	%	$	2,575	46	%

(1)

Customer C revenues are primarily in the United States.

(2)

Customer B revenues are in the U.K. and Customer E is in a region other than the United States, U.K., or Canada.

Revenue by geographical region can be found in the revenue recognition disclosures in Note 2, “Summary of Significant Accounting Policies.” 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.

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 17, “Related Party Transactions,” for additional details.

Recently Adopted Accounting Pronouncements

The Company lost its emerging growth company (“EGC”) status on March 31, 2022, due to qualifying as a large accelerated filer based on its market capitalization as of September 30, 2021, in accordance with Rule 12b-2 of the Securities Exchange Act of 1934, as amended. Prior to losing its EGC status, the classification allowed the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements were made applicable to private companies, and the Company elected to use adoption dates applicable to private companies. Subsequent to losing its EGC status, the Company adopted all accounting pronouncements previously deferred under the EGC election according to public company standards. The adoption dates for the new accounting pronouncements disclosed below have been presented accordingly.

In January 2017, the FASB issued Accounting Standards Update ("ASU") 2017-04, Intangibles – Goodwill and Other (Topic 350) – Simplifying the Test for Goodwill Impairment. ASU 2017-04 simplifies the accounting for goodwill impairments by eliminating the requirement to compare the implied fair value of goodwill with its carrying amount as part of step two of the goodwill impairment test referenced in ASC 350, Intangibles – Goodwill and Other. As a result, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value. However, the impairment loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The Company adopted ASU 2017-04 as of January 1, 2022, and the adoption did not have a material impact on its consolidated financial statements and related disclosures.

In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires contract assets and contract liabilities (i.e., deferred revenue) acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers. The guidance should be applied prospectively to acquisitions occurring on or after the effective date. The guidance is effective for the Company beginning April 1, 2023, and interim periods therein. Early adoption is permitted, including in interim periods, for any financial statements that have not yet been issued. In November 2021, the Company elected to early adopt ASU 2021-08, and the adoption had no material impact on the consolidated financial statements and related disclosures.

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, to require the measurement of expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. The guidance also amended the impairment model for available-for-sale debt securities and requires entities to determine whether all or a portion of the unrealized loss on such debt security is a credit loss. The standard is effective for nonpublic entities for annual and interim periods beginning after December 15, 2022, and for public entities for annual and interim periods beginning after December 15, 2019, with early adoption permitted. The Company lost its EGC status on March 31, 2022, and adopted ASU 2016-13 for the year ended March 31, 2022. The adoption did not have a material impact on the consolidated financial statements.

Recently Issued Accounting Pronouncements

In August 2020, the FASB issued ASU No. 2020-06, Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity, and clarifies the guidance on the computation of earnings per share for those financial instruments. The guidance will be effective for the Company beginning April 1, 2022, and interim periods therein. Early adoption is permitted for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The Company is currently evaluating the effect that ASU 2020-06 will have on its consolidated financial statements and related disclosures and does not believe the adoption will have a material impact.

Redeemable Convertible Preferred Stock - Additional Information (Details)	12 Months Ended
	Mar. 31, 2022 shares	Mar. 31, 2021 shares
Redeemable convertible preferred stock, Shares, Outstanding	0	209,181,855
Class B Common Stock [Member]
Exchange Ratio	2.293698169

Recapitalization - Additional Information (Details) $ / shares in Units, $ in Thousands			12 Months Ended
	Jun. 16, 2021 USD ($) $ / shares shares	Feb. 04, 2021 $ / shares shares	Mar. 31, 2022 USD ($) $ / shares shares	Dec. 22, 2021 shares	Mar. 31, 2021 $ / shares shares
Business Acquisition [Line Items]
Proceeds from Issuance or Sale of Equity \| $	$ 559,700
Reverse Recapitalization Percentage of Voting Interests Acquired	100.00%
Sponsor, Description		(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.
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs \| $	$ 33,700		$ 33,726
Proceeds from issuance of common stock merger \| $	$ 309,700
Earn-out shares, Percentage		50.00%
Lockup period for shares		7 years
Restricted Stock Units [Member]
Business Acquisition [Line Items]
Shares conversion ratio	2.293698169
Founder shares [Member]
Business Acquisition [Line Items]
Shares restricted for transfer \| shares		12,713,750
Lock-up early release terms for the earn out shares, description		(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.
Percent of share release from lockup		70.00%
PIPE [Member]
Business Acquisition [Line Items]
Proceeds from investment \| $	$ 250,000
Class A Common Stock [Member]
Business Acquisition [Line Items]
Common Stock, Par value \| $ / shares	$ 0.00001		$ 0.0001		$ 0.0001
Shares conversion ratio	2.293698169		2.293698169
Common stock, Price Per Share \| $ / shares		$ 10.00
Common Stock, Shares, Outstanding \| shares			228,174,718		20,713,076
Common Stock, Shares, Issued \| shares			228,174,718	26,825,241	20,713,076
Lock up for Class A common stock in connection with the Merger		180 days
Trading days		20 days
Number of trading days after commencing		30 days
Number of trading days after business combination		150 days
Class A Common Stock [Member] \| Minimum [Member]
Business Acquisition [Line Items]
Share Price Thresholds Release From Lock Up \| $ / shares		$ 12.50
Class A Common Stock [Member] \| Maximum [Member]
Business Acquisition [Line Items]
Share Price Thresholds Release From Lock Up \| $ / shares		15.00
Class A Common Stock [Member] \| Restricted Stock Units [Member]
Business Acquisition [Line Items]
Shares conversion ratio	2.293698169
Class A Common Stock [Member] \| Founder shares [Member]
Business Acquisition [Line Items]
Share Price Thresholds Release From Lock Up \| $ / shares		$ 12.00
Class A Common Stock [Member] \| PIPE [Member]
Business Acquisition [Line Items]
Common Stock, Shares, Issued \| shares	2,500,000
Aggregate gross proceeds of common stock \| $	$ 250,000
Class B Common Stock [Member]
Business Acquisition [Line Items]
Common Stock, Par value \| $ / shares	$ 0.00001		$ 0.0001		$ 0.0001
Acquired ownership percentage		30.00%
Shares conversion ratio	2.293698169		2.293698169
Common Stock, Shares, Outstanding \| shares		3,814,125	220,637,603		103,816,708
Common Stock, Shares, Issued \| shares			220,637,603		103,816,708
Class B Common Stock [Member] \| Founder shares [Member]
Business Acquisition [Line Items]
Percentage Shares Restricted For Transfer		70.00%

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	Apr. 25, 2022	Mar. 31, 2022	Mar. 30, 2022	Mar. 31, 2021	Mar. 31, 2020	Dec. 10, 2019
Loss Contingencies [Line Items]
Amounts Purchased Under Non Cancelable Purchase Obligations		$ 26.3		$ 20.6	$ 32.4
Damages related to asserting claims						$ 100.0
Litigation insurance settlement recovery receivable			$ 10.0
Subsequent Event [Member]
Loss Contingencies [Line Items]
Loss on litigation settlement	$ 10.0

Summary of Significant Accounting Policies - Summary of Revenue by Region (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Disaggregation Of Revenue [Line Items]
Revenue	$ 271,893	$ 243,920	$ 305,463
Service
Disaggregation Of Revenue [Line Items]
Revenue	$ 271,893	$ 243,920	$ 305,463
Geographic Concentration Risk [Member] \| Revenue Benchmark [Member] \| Service
Disaggregation Of Revenue [Line Items]
Percentage of Revenue	100.00%	100.00%	100.00%
United States
Disaggregation Of Revenue [Line Items]
Revenue	$ 192,438	$ 176,120	$ 241,769
United States \| Geographic Concentration Risk [Member] \| Revenue Benchmark [Member]
Disaggregation Of Revenue [Line Items]
Percentage of Revenue	71.00%	72.00%	79.00%
United Kingdom
Disaggregation Of Revenue [Line Items]
Revenue	$ 58,477	$ 49,386	$ 41,770
United Kingdom \| Geographic Concentration Risk [Member] \| Revenue Benchmark [Member]
Disaggregation Of Revenue [Line Items]
Percentage of Revenue	22.00%	20.00%	14.00%
Canada
Disaggregation Of Revenue [Line Items]
Revenue	$ 14,293	$ 12,172	$ 14,481
Canada \| Geographic Concentration Risk [Member] \| Revenue Benchmark [Member]
Disaggregation Of Revenue [Line Items]
Percentage of Revenue	5.00%	5.00%	5.00%
Other
Disaggregation Of Revenue [Line Items]
Revenue	$ 6,685	$ 6,242	$ 7,443
Other \| Geographic Concentration Risk [Member] \| Revenue Benchmark [Member]
Disaggregation Of Revenue [Line Items]
Percentage of Revenue	2.00%	3.00%	2.00%
International
Disaggregation Of Revenue [Line Items]
Revenue	$ 79,455	$ 67,800	$ 63,694
International \| Geographic Concentration Risk [Member] \| Revenue Benchmark [Member]
Disaggregation Of Revenue [Line Items]
Percentage of Revenue	29.00%	28.00%	21.00%

Income Taxes

12 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

15. Income Taxes

The Company computes provision for income taxes by applying the estimated annual effective tax rate to year-to-date income from recurring operations and adjust the provision for discrete tax items recorded in the period. The Company’s annual estimated effective tax rate differs from the U.S. federal statutory rate primarily as a result of changes in the Company’s valuation allowance against its deferred tax assets.

A deferred income tax benefit of $3.5 million was recognized for the fiscal year ended March 31, 2022 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 (see Note 4, “Acquisitions”). Accordingly, this benefit from income taxes is reflected on the consolidated statements of operations and comprehensive loss for the year ended March 31, 2022. The Company continues to maintain a full valuation allowance on the remaining net deferred tax assets of the U.S. entities as it is more likely than not that the Company will not realize the deferred tax assets. For the fiscal years ended March 31, 2021 and 2020, the Company recognized no provision for income taxes. Utilization of net operating loss carryforwards may be subject to future annual limitations provided by Section 382 of the Code and similar state provisions.

The components of the Company’s loss before provision for (benefit from) income taxes for the fiscal years ended March 31, 2022, 2021 and 2020 were as follows:


	Year Ended March 31,
	2022			2021			2020
	(in thousands)
Domestic	$	(221,212	)	$	(183,619	)	$	(250,863	)
Foreign		242			—			—
Loss before income taxes	$	(220,970	)	$	(183,619	)	$	(250,863	)

There has historically been no federal or state provision for income taxes because the Company has historically incurred operating losses and maintains a full valuation allowance against its net deferred tax assets.


	Year Ended March 31,
	2022			2021			2020
Statutory federal tax expense rate		21	%		21	%		21	%
Non-deductible stock-based compensation		(3	)		(7	)		(2	)
Fair Market Value adjustment on Warrants		3			—			—
Change in valuation allowance related to acquisition		2			—			—
Change in valuation allowance		(20	)		(14	)		(19	)
Other		(2	)		—			—
Effective tax rate		2	%		0	%		0	%

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 net deferred tax assets, as of March 31, 2022 and 2021 consisted of:


	Year Ended March 31,
	2022			2021
	(in thousands)
Deferred tax assets:
Net operating loss carryforwards	$	248,856		$	181,020
Accruals and reserves		3,685			3,591
Stock-based compensation		10,000			6,291
Deferred revenue		6,865			17,785
Operating lease liabilities		20,590			23,393
Intangibles	—				355
Other		19			391
Gross deferred tax assets		290,015			232,826
Valuation allowance		(261,795	)		(213,267	)
Total deferred tax assets		28,220			19,559
Deferred tax liabilities:
Prepaid expenses		(1,235	)		(841	)
Intangibles		(15,709	)
Operating lease right-of-use assets		(13,233	)		(15,755	)
Property and equipment		(1,138	)		(2,963	)
Gross deferred tax liabilities		(31,315	)		(19,559	)
Net deferred taxes	$	(3,095	)	$	—

As of March 31, 2022 and 2021, the Company had $1.0 billion of federal and $548.5 million state net operating loss carryforwards and $733.3 million of federal and $410.5 million state net operating loss carryforwards, respectively, available to reduce future taxable income, which will begin to expire in 2026 for federal and state tax purposes. As a result of the Tax Cuts and Jobs Act, net operating losses generated after December 31, 2017 have an indefinite life and losses are limited to 80% of taxable income. Included in the $1.0 billion carryover losses is $656.1 million of net operating losses with an indefinite life. The Company does not have any federal and state research and development tax credit carryforwards. The change in the valuation allowance in the current year was an increase of $40.2 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. The Company performed a preliminary study for the period through March 31, 2022 and determined that no ownership change exceeding 50 percentage points had occurred subsequent to the date of the Lemonaid Acquisition. The Company’s ability to use net operating loss carryforwards to reduce future taxable income and liabilities may be subject to annual limitations as a result of ownership changes in subsequent years.

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 under ASC 740 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 complies with ASC 740-10, Accounting for Uncertainty in Income Taxes, which prescribes a comprehensive model for the recognition, measurement, presentation and disclosure in financial statement of any uncertain tax positions that have been taken or expected to be taken on a tax return. This pronouncement sets a “more likely than not” criterion for recognizing the tax benefit of uncertain tax positions. The Company does not anticipate any significant changes to unrecognized tax benefits in the next 12 months. The Company recognizes interest and

penalties related to uncertain tax positions in income tax expense. As of March 31, 2022 and 2021, there was no unrecognized tax benefits.

A reconciliation of the beginning and ending balance of unrecognized tax benefits is summarized as follows:


	Unrecognized Tax Benefits
	(in thousands)
Balance as of March 31, 2019	$	282
Decreases in unrecognized tax benefits related to prior year tax positions		—
Increases in unrecognized tax benefits related to current year tax positions		17
Balance as of March 31, 2020		299
Decreases in unrecognized tax benefits related to prior year tax positions		(299	)
Increases in unrecognized tax benefits related to current year tax positions		—
Balance as of March 31, 2021		—

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, 2022, 2021 and 2020, 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.

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.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 2
-Subparagraph (SAB Topic 11.C)
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 740
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-Section 50
-Paragraph 17
-Subparagraph (b)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 740
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-SubTopic 270
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-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 235
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-Section S99
-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Collaborations - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Jan. 18, 2022	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Revenue		$ 271,893	$ 243,920	$ 305,463
Deferred Revenue Current		62,939	71,255
Prepaid expenses and other current assets		25,139	15,485
Cost of Revenue		138,948	126,914	168,031
Increase in revenue adjustment		9,000
Decrease in net loss		9,000
Accounts Payable and Other Accrued Liabilities, Current		44,588	31,953
G S K
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Revenue		46,100	39,900	26,700
Deferred Revenue Current		9,200	30,100
Deferred Revenue, Noncurrent		0	0
Research and development expense		24,000	18,700	19,100
Cost of Revenue		300	1,400	$ 1,000
Aggregate Cash Consideration For Collaboration Arrangement	$ 50,000
Increase in revenue adjustment		9,000
Decrease in net loss		$ (9,000)
Decrease in basic and diluted net loss per share		$ (0.02)
Accounts Payable and Other Accrued Liabilities, Current		$ 18,300	$ 11,500

Leases - Schedule of supplemental balance sheet information (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Leases [Abstract]
Operating lease right-of-use assets	$ 55,577	$ 63,122	$ 600
Operating lease liabilities	7,784	6,140
Operating lease liabilities, noncurrent	78,524	87,582
Total operating lease liabilities	$ 86,308	$ 93,722

Leases

12 Months Ended

Mar. 31, 2022

Leases [Abstract]

Leases

10. Leases

The Company’s lease portfolio includes leased offices, dedicated lab facility and storage space, and dedicated data center facility space, with remaining contractual periods from less than 1.8 years to 9.3 years. For purposes of calculating lease liabilities, lease terms may include options to extend the lease when it is reasonably certain that the Company will exercise those options. In January 2021, the Company entered into an operating lease amendment to extend the lease term of the South San Francisco, California lab facility, which resulted in $12.1 million of non-cancellable future minimum lease payments and a revised lease term through January 2025. For the Company’s facility in Sunnyvale, California, there is an option to extend the lease for a period of 7 years. The Company is not reasonably certain that it will exercise this option and therefore it is not included in its rights of use assets and lease liabilities as of March 31, 2022.


	Year Ended March 31,
	2022		2021		2020
	(in thousands)
Operating lease cost, net (1)	$	13,640	$	13,614	$	10,999
Variable lease cost		6,425		5,809		4,705
Total lease cost	$	20,065	$	19,423	$	15,704

(1)

For the year ended March 31, 2020, included in operating lease cost is a $4.9 million reduction to lease cost related to a lease termination.

Variable lease cost includes property tax, insurance, common area maintenance, and utilities. The following is supplemental balance sheet information as of March 31, 2022 and 2021:


	Year Ended March 31,
	2022		2021
	(in thousands)
Reported as:
Assets:
Operating lease right-of-use assets	$	55,577	$	63,122
Liabilities:
Operating lease liabilities		7,784		6,140
Operating lease liabilities, noncurrent		78,524		87,582
Total operating lease liabilities	$	86,308	$	93,722

Weighted average remaining lease term and discount rate for the Company’s operating leases was as follows:


	Year Ended March 31,
	2022			2021			2020
Weighted-average remaining lease term (in years)	8.4			9.2			10.5
Weighted-average discount rate		7	%		7	%		8	%

Supplemental cash flow information related to operating leases for the fiscal years ended March 31, 2022, 2021 and 2020 was as follows:


	Year Ended March 31,
	2022			2021			2020
	(in thousands)
Cash paid for amounts included in the measurement of operating lease liabilities:
Operating cash flows used in operating leases	$	(13,490	)	$	(14,067	)	$	(12,520	)
Landlord contributions included in the measurement of operating lease ROU assets:
Operating cash flows provided by operating leases	$	—		$	3,733		$	9,940
Supplemental disclosure of non-cash operating lease activities:
Operating lease ROU assets obtained in exchange for new operating lease liabilities	$	—		$	12,803		$	4,769

As of March 31, 2022, the future minimum lease payments included in the measurement of the Company’s operating lease liabilities were as follows (in thousands):


Fiscal years ending March 31,
2023	$	13,782
2024		14,960
2025		14,464
2026		11,105
2027		11,348
Thereafter		53,095
Total future operating lease payments		118,754
Less: imputed interest		(32,446	)
Total operating lease liabilities	$	86,308

Acquisitions (Tables)

12 Months Ended

Mar. 31, 2022

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, 2019.


	Year Ended March 31,
	2022			2021			2020
	(in thousands)
Pro forma revenue (1)	$	295,025		$	271,532		$	322,393
Pro forma net loss (1)	$	(241,382	)	$	(237,162	)	$	(299,199	)

Lemonaid Health, Inc. [Member]

Schedule of Consideration Transferred to Acquired Identifiable Assets and Assumed Liabilities


	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

Organization and Description of Business - Additional Information (Detail)		12 Months Ended
	Jun. 16, 2021	Mar. 31, 2022
Class Of Stock [Line Items]
Stock split description	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	The shares and net loss per common share prior to the Merger have been retroactively restated as shares reflecting the exchange ratio established in the Merger (each outstanding share of 23andMe, Inc. Class A common stock was exchanged for 2.293698169 shares of the Company’s Class A common stock, and each outstanding share of 23andMe, Inc. Class B common stock, including all shares of 23andMe, Inc. preferred stock (which were converted to shares of 23andMe, Inc. Class B common stock immediately prior to the Merger), was exchanged for 2.293698169 shares of the Company’s Class B common stock).
Class A Common Stock [Member]
Class Of Stock [Line Items]
Exchange Ratio	2.293698169	2.293698169
Class B Common Stock [Member]
Class Of Stock [Line Items]
Exchange Ratio	2.293698169	2.293698169

Acquisitions - Schedule of Consideration Transferred to Acquired Identifiable Assets and Assumed Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Nov. 01, 2021	Mar. 31, 2021
Consideration transferred to acquired identifiable assets and assumed liabilities
Goodwill	$ 351,744		$ 0
Lemonaid Health, Inc. [Member]
Consideration transferred to acquired identifiable assets and assumed liabilities
Cash		$ 7,711
Prepaid expenses and other current assets		3,388
Property and equipment, net		1,019
Operating lease right-of-use assets		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
Lemonaid Health, Inc. [Member] \| Customer Relationships [Member]
Consideration transferred to acquired identifiable assets and assumed liabilities
Intangible Assets		14,900
Lemonaid Health, Inc. [Member] \| Partnerships [Member]
Consideration transferred to acquired identifiable assets and assumed liabilities
Intangible Assets		23,200
Lemonaid Health, Inc. [Member] \| Trademark [Member]
Consideration transferred to acquired identifiable assets and assumed liabilities
Intangible Assets		11,000
Lemonaid Health, Inc. [Member] \| Developed Technology [Member]
Consideration transferred to acquired identifiable assets and assumed liabilities
Intangible Assets		24,100
Lemonaid Health, Inc. [Member] \| Non-Compete Agreements [Member]
Consideration transferred to acquired identifiable assets and assumed liabilities
Intangible Assets		$ 2,800

Balance Sheet Components - Schedule of Accrued Expense and Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Accrued payables	$ 27,654	$ 19,869
Accrued compensation and benefits	14,898	11,749
Accrued taxes and other	2,036	335
Total accrued expenses and other current liabilities	$ 44,588	$ 31,953

Net Loss Per Share Attributable to Common Stockholders - Additional Information (Detail) - $ / shares	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Dividends paid in shares	$ 0	$ 0

Common Stock and Warrants - Schedule of Common Stock Reserved for Issuance (Detail) - shares	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Jun. 10, 2021
Class Of Stock [Line Items]
Redeemable convertible preferred stock		209,181,855
Outstanding stock options	73,609,565	67,377,463
Total shares of common stock reserved	144,601,515	278,819,076
2006 Equity Incentive Plan
Class Of Stock [Line Items]
Shares available for future issuance under equity incentive plan		2,259,758
2021 Equity Incentive Plan
Class Of Stock [Line Items]
Shares available for future issuance under equity incentive plan	48,895,572
Employee Stock Purchase Plan
Class Of Stock [Line Items]
Shares available for future issuance under equity incentive plan	11,420,000	0
Total shares of common stock reserved			11,420,000
Restricted Stock Units [Member]
Class Of Stock [Line Items]
Outstanding restricted stock units	10,676,378

Equity Incentive Plans and Stock-Based Compensation - Additional Information (Details)		1 Months Ended				12 Months Ended
	Jun. 10, 2021 shares	Nov. 30, 2021 USD ($) shares	Feb. 28, 2021 USD ($) shares	Sep. 30, 2020 USD ($) shares	Aug. 31, 2020 shares	Mar. 31, 2022 USD ($) $ / shares shares	Mar. 31, 2021 USD ($) $ / shares shares	Mar. 31, 2020 USD ($) $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for future issuance						144,601,515	278,819,076
Exchange ratio of common stock						2.293698169
Stock Options, Granted						14,968,952
Shares Available for Grant, Exercised						5,808,526
Share-based compensation terms of award						Options under the 2021 Plan 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.
Weighted-average grant date fair values of options granted \| $ / shares						$ 4.44	$ 3.02	$ 2.73
Intrinsic value of vested options exercised \| $						$ 25,600	$ 47,600,000	$ 19,000.0
Weighted average period over which unrecognized compensation is expected to be recognized						2 years 9 months 18 days
Unrecognized stock-based compensation expense \| $						$ 104,100
Stock-based compensation expense \| $						57,933,000	86,696,000	41,058,000
Proceeds from stock options exercised \| $						$ 16,998,000	$ 76,151,000	8,830,000
Common stock subject to repurchase						0	0
Options Exercised						0	0
Vesting Early Exercised Stock Options \| $						$ 0	$ 91,046,000	16,962,000
Lemonaid Health, Inc. [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average period over which unrecognized compensation is expected to be recognized						3 years 7 months 6 days
Common stock granted subject to vest		3,747,027
Unrecognized stock-based compensation expense \| $						$ 39,400,000
Common stock granted subject to vest, Weighted average grant date fair value \| $		$ 43,900,000
Vesting peiod		4 years
General and Administrative Expense [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense \| $			$ 40,400,000			22,242,000	$ 59,986,000	$ 18,932,000
General and Administrative Expense [Member] \| Lemonaid Health, Inc. [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense \| $						$ 4,500,000
Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average period over which unrecognized compensation is expected to be recognized						3 years 6 months
Unrecognized stock-based compensation expense \| $						$ 96,000,000.0
Early Exercise of Common Stock Options [Member] \| CEO
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Options, Granted					6,881,095
Shares Available for Grant, Exercised				6,881,095			11,108,906
Proceeds from stock options exercised \| $				$ 34,700,000			$ 47,200,000
Shares Vested			15,621,041
2021 Incentive Equity Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for future issuance	136,000,000
Exchange ratio of common stock						2.293698169
Shares Available for Grant, Beginning balance						22,839,019
Common stock issued and outstanding, percentage						3.00%
Exercise price of stock options as a percentage of fair value of shares						110.00%
Share-based payment award, description						The number of shares of Class A common stock reserved for issuance under the 2021 Plan will automatically increase on January 1 of each calendar year, starting in 2022, in an amount equal to (i) 22,839,019 shares of Class A common stock, (ii) 3.0% of the aggregate number of shares of Class A common stock and Class B common stock outstanding, or (iii) a lesser number of shares determined by the Company’s Board of Directors prior to the applicable January 1
2021 Incentive Equity Plan [Member] \| Lemonaid Health, Inc. [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for future issuance		2,990,386
2021 Incentive Equity Plan [Member] \| Stock Option Activity [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of total stock holding						10.00%
2021 Incentive Equity Plan [Member] \| Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for future issuance	136,000,000
2021 Incentive Equity Plan [Member] \| Minimum [Member]
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%
ESPP [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for future issuance	11,420,000
Common stock issued and outstanding, percentage	(1.00%)
Potential annual increase in shares reserved for future issuance	5,000,000
Number of shares issued						0
Amount withheld \| $						$ 600,000
2006 Equity Incentive Plan \| Performance Based Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Options, Granted						0
Class B Common Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock subject to repurchase								8,739,945
Weighted Average Repurchase Price \| $ / shares								$ 11.50
Class B Common Stock [Member] \| CEO
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Available for Grant, Exercised			11,029,071
Proceeds from stock options exercised \| $			$ 32,600,000

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Deferred tax assets:
Net operating loss carryforwards	$ 248,856	$ 181,020
Accruals and reserves	3,685	3,591
Stock-base compensation	10,000	6,291
Deferred revenue	6,865	17,785
Operating lease liabilities	20,590	23,393
Intangibles		355
Other	19	391
Gross deferred tax assets	290,015	232,826
Valuation allowances	(261,795)	(213,267)
Deferred Tax Assets, Net of Valuation Allowance, Total	28,220	19,559
Deferred tax liabilities:
Prepaid expenses	(1,235)	(841)
Intangibles	(15,709)
Operating lease right of use assets	(13,233)	(15,755)
Property and equipment	(1,138)	(2,963)
Gross deferred tax liabilities	(31,315)	(19,559)
Net deferred taxes	$ (3,095)

Fair Value Measurements - Schedule of Changes in Fair Value of Warrant Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Balance	$ 0
Assumption of Private Placement Warrants and Public Warrants	75,415
Redeemed/exercised warrants	(42,426)
Change in fair value of warrant liabilities	(32,989)	$ 0	$ 0
Balance	$ 0	$ 0

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Related Party Amounts	$ 25,000
Accounts Receivable [Member]
Related Party Amounts	0	$ 0	$ 2,000
Accounts Payable [Member]
Related Party Amounts	8,145	191	4,231
Accrued Expenses And Other Current Liabilities [Member]
Related Party Amounts	(1,293)	3,517	(2,599)
Deferred Revenue [Member]
Related Party Amounts	(20,959)	(14,917)	251
Exercise Of Stock Options [Member]
Related Party Amounts	0	67,359	0
PIPE [Member]
Related Party Amounts	$ 25,000	$ 0	$ 0

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Revenue (related party amounts of $46,064, $39,917 and $26,749 for the years ended March 31, 2022, 2021 and 2020, respectively)	$ 271,893	$ 243,920	$ 305,463
Cost of revenue (related party amounts of $299, $(1,400) and $994 for the years ended March 31, 2022, 2021 and 2020, respectively)	138,948	126,914	168,031
Gross profit	132,945	117,006	137,432
Operating expenses:
Research and development (related party amounts of $23,954, $18,684 and $19,058 for the years ended March 31, 2022, 2021 and 2020, respectively)	189,377	159,856	181,276
Sales and marketing	100,338	43,197	110,519
General and administrative	97,383	99,149	59,392
Restructuring and other charges	0	0	44,692
Total operating expenses	387,098	302,202	395,879
Loss from operations	(254,153)	(185,196)	(258,447)
Other (expense) income:
Interest (expense) income, net	277	255	6,244
Change in fair value of warrant liabilities	32,989	0	0
Other (expense) income, net	(83)	1,322	1,340
Loss before income taxes	(220,970)	(183,619)	(250,863)
Benefit from income taxes	3,480	0	0
Net loss	(217,490)	(183,619)	(250,863)
Other comprehensive income	179	0	0
Total comprehensive loss	$ (217,311)	$ (183,619)	$ (250,863)
Net loss per share of Class A and Class B common stock attributable to common stockholders:
Basic and diluted	$ (0.60)	$ (1.84)	$ (2.84)
Weighted-average shares used to compute net loss per share:
Basic and diluted	361,528,119	99,660,786	88,201,337

Redeemable Convertible Preferred Stock

12 Months Ended

Mar. 31, 2022

Redeemable Convertible Preferred Stock

12. Redeemable Convertible Preferred Stock

The following table is a summary of the Company’s redeemable convertible preferred stock as of:


	March 31, 2021
	Shares		Shares Issued and Outstanding		Carrying Value		Aggregate Liquidation Preference
	(in thousands, except share data)
Series A		16,330,984		16,330,984	$	8,815	$	8,953
Series B		20,754,666		20,754,666		27,643		27,779
Series C		22,703,050		22,703,050		30,961		31,179
Series D		33,110,992		33,110,992		58,274		58,450
Series E		24,414,254		24,414,254		114,936		115,246
Series F		41,300,501		41,300,501		242,168		250,000
Series F-1		50,897,623		50,567,408		354,554		382,500
Total redeemable convertible preferred stock		209,512,070		209,181,855	$	837,351	$	874,107

Conversion

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 share amounts are presented as having been converted as of March 31, 2021. As of March 31, 2022, no shares of redeemable convertible preferred stock were outstanding.

Restructuring (Tables)

12 Months Ended

Mar. 31, 2022

Restructuring and Related Activities [Abstract]

Summary of amount incurred and accrued related to one-time employee 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 as of March 31, 2019	$	—
Restructuring charges incurred during the period		4,633
Amounts paid during the period		(3,580	)
Accrued restructuring costs as of March 31, 2020		1,053
Amounts paid during the period		(1,053	)
Accrued restructuring costs as of March 31, 2021	$	—

Common Stock and Warrants (Tables)

12 Months Ended

Mar. 31, 2022

Schedule of Common Stock Reserved for Issuance

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


	March 31,
	2022		2021
Redeemable convertible preferred stock		—		209,181,855
Outstanding stock options		73,609,565		67,377,463
Outstanding restricted stock units		10,676,378		—
Remaining shares available for future issuance under 2006 Equity Incentive Plan		—		2,259,758
Remaining shares available for future issuance under 2021 Equity Incentive Plan		48,895,572		—
Shares available for future issuance under Employee Stock Purchase Plan		11,420,000		—
Total shares of common stock reserved		144,601,515		278,819,076

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, 2022	Mar. 31, 2021	Mar. 31, 2020
Numerator:
Net loss	$ (217,490)	$ (183,619)	$ (250,863)
Denominator:
Weighted-average shares used to compute net loss per share, basic and diluted	361,528,119	99,660,786	88,201,337
Net loss per share:
Net loss per share, basic and diluted	$ (0.60)	$ (1.84)	$ (2.84)
Class A Common Stock [Member]
Numerator:
Net loss	$ (68,620)	$ (37,070)	$ (49,094)
Denominator:
Weighted-average shares used to compute net loss per share, basic and diluted	114,064,921	20,121,419	17,261,145
Net loss per share:
Net loss per share, basic and diluted	$ (0.60)	$ (1.84)	$ (2.84)
Class B Common Stock [Member]
Numerator:
Net loss	$ (148,870)	$ (146,549)	$ (201,769)
Denominator:
Weighted-average shares used to compute net loss per share, basic and diluted	247,463,198	79,539,367	70,940,192
Net loss per share:
Net loss per share, basic and diluted	$ (0.60)	$ (1.84)	$ (2.84)

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

Restructuring Cost and Reserve [Line Items]

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, 2022	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Balance as of March 31, 2021		29,375,026
Recapitalization		38,002,437
Balance as of March 31, 2021	67,377,463
Granted	14,968,952
Exercised	(5,808,526)
Cancelled/Forfeited/Expired	(2,928,324)
Balance as of March 31, 2022	73,609,565	67,377,463
Vested and exercisable as of March 31, 2022	42,902,557
Weighted-Average Exercise Price, Beginning balance	$ 9.37
Weighted-Average Exercise Price, Recapitalization		$ (5.28)
Balance as of March 31, 2021		4.09
Weighted-Average Exercise Price,Granted	4.37
Weighted-Average Exercise Price,Exercised	2.90
Weighted-Average Exercise Price,Cancelled/Forfeited/Expired	4.80
Weighted-Average Exercise Price, Ending balance	4.21	$ 9.37
Vested and exercisable as of March 31, 2022	$ 3.84
Weighted-Average Remaining Contractual Term (Years)	6 years 10 months 24 days	7 years 1 month 6 days
Weighted-Average Remaining Contractual Term (Years), Vested and Exercisable	5 years 7 months 6 days
Aggregate Intrinsic Value of Options Outstanding	$ 35,979	$ 403,498
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value	$ 27,504

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Increase in revenue adjustment	$ 9,000,000.0
Decrease in net loss	$ 9,000,000.0
Decreased net loss, basic and diluted	$ (0.02)
Revenue recognized	$ 31,900,000
Deferred revenue for customer services	51,300,000	$ 39,300,000
Total restricted cash	8,600,000	8,400,000
Advertising costs	54,700,000	11,200,000	$ 62,600,000
Impairment Losses	0	0	1,300,000
Deferred Advertising Costs	700,000
Impairment charges	0	0	0
Impairment of long-lived assets	$ 0	0	33,213,000
Stock based compensation expense related to restructuring activities			900,000
Minimum [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Remaining performance obligation, remaining duration	1 year
Maximum [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Remaining performance obligation, remaining duration	2 years
ESPP [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Payroll deductions to participate in plan	15.00%
ESPP [Member] \| Class A Common Stock [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Discount from market price, offering date	85.00%
Discount from market price, purchase date	85.00%
Maximum value of shares per employee	$ 25,000
K I T S
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Revenue recognized	21,900,000	24,100,000	38,000,000.0
Research Services
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Revenue recognized	31,400,000	42,800,000	28,700,000
Remaining performance obligations	67,800,000	61,900,000
Deferred revenue for customer services	11,600,000	31,900,000	48,600,000	$ 48,700,000
Contract with customer liability related party amount	9,200,000	30,100,000
Contract with customer liability revenue recognized related party amount	$ 30,100,000	39,900,000
Consumer services
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Revenue recognized		34,400,000	59,900,000
Deferred revenue for customer services		$ 39,300,000	$ 38,800,000	$ 74,100,000
Supplier Concentration Risk \| Revenue Benchmark [Member] \| Microarrays
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Percentage of Revenue	100.00%
Supplier Concentration Risk \| Revenue Benchmark [Member] \| K I T S
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Percentage of Revenue	100.00%
Supplier Concentration Risk \| Revenue Benchmark [Member] \| Laboratory Services
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Percentage of Revenue	100.00%	100.00%	100.00%
Other charges [Member] \| Additions to restructuring plan [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Impairment loss			$ 12,600,000

Leases - Schedule of Future Minimum Lease Payments Related to Company's Operating Lease Liability (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
2023	$ 13,782
2024	14,960
2025	14,464
2026	11,105
2027	11,348
Thereafter	53,095
Total future operating lease payments	118,754
Less: imputed interest	(32,446)
Total operating lease liabilities	$ 86,308	$ 93,722

Acquisitions - Unaudited Pro Forma Revenue and Net Loss Information (Details) - USD ($)
$ in Thousands

12 Months Ended

Mar. 31, 2022

Mar. 31, 2021

Mar. 31, 2020

Business Combinations [Abstract]

Pro forma revenue

^[1]

$ 295,025

$ 271,532

$ 322,393

Pro forma net loss

^[1]

$ (241,382)

$ (237,162)

$ (299,199)

[1]	As if the acquisition of Lemonaid was consummated on April 1, 2019.

Restructuring - Summary of amount incurred and accrued related to one-time employee termination benefits (Details) - USD ($)
$ in Thousands

12 Months Ended

Mar. 31, 2022

Mar. 31, 2021

Mar. 31, 2020

Restructuring charges incurred during the period

^[1]

$ 0

$ 44,692

One-time Termination Benefits [Member]

Restructuring Cost and Reserve [Line Items]

Accrued restructuring costs

$ 0

1,053

Restructuring charges incurred during the period

4,633

Amounts paid during the period

(1,053)

(3,580)

Accrued restructuring costs

$ 0

$ 1,053

[1]	For the year ended March 31, 2020, restructuring includes $0.9 million of stock-based compensation expense related to restructuring activities.

Equity Incentive Plans and Stock-Based Compensation - Summary of the Restricted Stock Units (Details) - Restricted Stock Units [Member]	12 Months Ended
	Mar. 31, 2022 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested RSUs, beginning balance, Unvested \| shares	0
Unvested RSUs, Granted \| shares	11,943,645
Unvested RSUs, Vested \| shares	(801,794)
Unvested RSUs, Cancelled/forfeited \| shares	(465,473)
Unvested RSUs, ending balance, unvested \| shares	10,676,378
Weighted-Average Grant Date Fair Value Per Share, Beginning balance, Unvested \| $ / shares	$ 0
Weighted-Average Grant Date Fair Value Per Share, Granted \| $ / shares	9.83
Weighted-Average Grant Date Fair Value Per Share, Vested \| $ / shares	10.90
Weighted-Average Grant Date Fair Value Per Share, Cancelled/forfeited \| $ / shares	11.08
Weighted-Average Grant Date Fair Value Per Share, Ending balance, Unvested \| $ / shares	$ 9.70

Equity Incentive Plans and Stock-Based Compensation (Tables)

12 Months Ended

Mar. 31, 2022

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

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 is 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, 2021		29,375,026		$	9.37		7.1		$	403,498
Recapitalization		38,002,437		$	(5.28	)
Balance as of March 31, 2021		67,377,463		$	4.09
Granted		14,968,952		$	4.37
Exercised		(5,808,526	)	$	2.90
Cancelled/Forfeited/Expired		(2,928,324	)	$	4.80
Balance as of March 31, 2022		73,609,565		$	4.21			6.9	$	35,979
Vested and exercisable as of March 31, 2022		42,902,557		$	3.84			5.6	$	27,504

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

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


	Year Ended March 31,
	2022						2021						2020
	Min			Max			Min			Max			Min			Max
Expected term (years)		3.3			6.1			4.0			6.1			5.0			6.1
Expected volatility		72	%		75	%		61	%		68	%		53	%		62	%
Risk-free interest rate		1.0	%		2.5	%		0.2	%		0.5	%		0.6	%		2.2	%
Expected dividend yield		0	%		0	%		0	%		0	%		0	%		0	%

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:


	RSUs
	Unvested RSUs			Weighted-Average Grant Date Fair Value Per Share

Balance as of March 31, 2021		—			—
Granted		11,943,645		$	9.83
Vested		(801,794	)	$	10.90
Cancelled/forfeited		(465,473	)	$	11.08
Balance as of March 31, 2022		10,676,378		$	9.70

Schedule of Share Based Compensation Costs

The total share-based compensation expense related to stock options by line item in the accompanying consolidated statements of operations and comprehensive loss is summarized as follows:


	Year Ended March 31,
	2022		2021		2020
	(in thousands)
Cost of revenue	$	4,029	$	858	$	733
Research and development		26,540		21,771		16,524
Sales and marketing		5,122		4,081		3,988
General and administrative		22,242		59,986		18,932
Restructuring and other charges	—			—		881
Total stock-based compensation expense	$	57,933	$	86,696	$	41,058

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net loss	$ (217,490)	$ (183,619)	$ (250,863)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	23,699	18,078	22,249
Amortization and impairment of internal-use software	2,449	2,168	1,040
Stock-based compensation expense	57,933	88,425	44,838
Change in fair value of warrant liabilities	(32,989)	0	0
Loss on disposal of property and equipment	100	57	6
Gain on lease termination	(15)	(876)	0
Impairment of long-lived assets	0	0	33,213
Changes in operating assets and liabilities:
Accounts receivable (related party amounts of nil, nil and $2,000 for the years ended March 31, 2022, 2021 and 2020, respectively)	(899)	3,912	4,207
Inventories	(4,262)	7,884	(440)
Deferred cost of revenue	(2,219)	1,163	7,184
Prepaid expenses and other current assets	(10,077)	2,126	3,379
Operating lease right-of-use assets	7,078	10,288	14,557
Other assets	(1,820)	573	480
Accounts payable (related party amounts of $8,145, $191 and $4,231 for the years ended March 31, 2022, 2021 and 2020, respectively)	22,856	137	(29,809)
Accrued expenses and other current liabilities (related party amounts of $ (1,293), $3,517 and $(2,599) for the years ended March 31, 2022, 2021 and 2020, respectively)	8,316	82	4,916
Deferred revenue (related party amounts of $(20,959), $(14,917) and $251 for the years ended March 31, 2022, 2021 and 2020, respectively)	(8,799)	(16,210)	(35,333)
Operating lease liabilities	(7,054)	(8,528)	(5,431)
Other liabilities	(3,635)	88	41
Net cash used in operating activities	(166,828)	(74,252)	(185,766)
Cash flows from investing activities:
Purchases of property and equipment	(3,968)	(4,054)	(68,371)
Purchases of intangible assets (patents)	(5,500)	0	0
Proceeds from sale of property and equipment	1	838	765
Capitalized internal-use software costs	(4,505)	(3,320)	(5,217)
Cash paid for acquisitions, net of cash acquired	(94,165)	0	0
Net cash used in investing activities	(108,137)	(6,536)	(72,823)
Cash flows from financing activities:
Proceeds from issuance of redeemable convertible preferred stock	0	82,500	0
Payments for issuance costs of redeemable convertible preferred stock	0	(232)	0
Proceeds from exercise of stock options (related party amounts of nil, $67,359 and nil for the years ended March 31, 2022, 2021 and 2020, respectively)	16,998	76,151	8,830
Payments Of Deferred Offering Costs	(30,642)	(3,084)	0
Proceeds from issuance of common stock upon Merger	309,720	0	0
Proceeds from PIPE (related party amounts of $25,000, nil and nil for the years ended March 31, 2022, 2021 and 2020, respectively)	250,000	0	0
Proceeds from exercise of merger warrants	44	0	0
Payment for warrant redemptions	(116)	0	0
Net cash provided by financing activities	546,004	155,335	8,830
Effect of Exchange Rate on Cash	(146)	0	0
Net increase (decrease) in cash and restricted cash	270,893	74,547	(249,759)
Cash and restricted cash—beginning of period	290,862	216,315	466,074
Cash and restricted cash—end of period	561,755	290,862	216,315
Supplemental disclosures of non-cash investing and financing activities:
Purchases of property and equipment during the period included in accounts payable and accrued expenses	722	535	3,221
Stock-based compensation capitalized for internal-use software costs	1,166	637	792
Reclassification of transaction costs	3,971	0	0
Vesting of related party early exercised stock options	0	91,046	16,962
Assumption of Merger Warrants Liability	75,415	0	0
Deferred offering costs during the period included in accounts payable and accrued expenses	0	887	0
Conversion of redeemable convertible preferred stock to common stock	837,351	0	0
Redemption/Exercise of Class A Common Stock Warrants	42,354	0	0
Stock consideration in acquisition of businesses, including fair value of common stock issued and fair value of stock-based awards that were vested	322,842	0	0
Cash	553,182	282,489	207,942
Restricted cash, current	1,599	1,399	1,399
Restricted cash, non-current	6,974	6,974	6,974
Total cash and restricted cash	$ 561,755	$ 290,862	$ 216,315

Balance Sheet Components - Schedule of Internal Use Software, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Capitalized internal-use software, gross	$ 14,804	$ 9,200
Less: accumulated amortization	(5,169)	(2,311)
Internal-use software, net	$ 9,635	$ 6,889

Consolidated Statements of Operations and Comprehensive Loss (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Revenue from Related Parties	$ 46,064	$ 39,917	$ 26,749
Related party cost of revenue	299	(1,400)	994
Related Party Research and Development Expense	$ 23,954	$ 18,684	$ 19,058

Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07.1(c))
-URI http://asc.fasb.org/extlink&oid=120401555&loc=SL114874292-224272

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(C))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.1(e))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Redeemable Convertible Preferred Stock (Tables)

12 Months Ended

Mar. 31, 2022

Schedule of Redeemable Convertible Preferred Stock

The following table is a summary of the Company’s redeemable convertible preferred stock as of:


	March 31, 2021
	Shares		Shares Issued and Outstanding		Carrying Value		Aggregate Liquidation Preference
	(in thousands, except share data)
Series A		16,330,984		16,330,984	$	8,815	$	8,953
Series B		20,754,666		20,754,666		27,643		27,779
Series C		22,703,050		22,703,050		30,961		31,179
Series D		33,110,992		33,110,992		58,274		58,450
Series E		24,414,254		24,414,254		114,936		115,246
Series F		41,300,501		41,300,501		242,168		250,000
Series F-1		50,897,623		50,567,408		354,554		382,500
Total redeemable convertible preferred stock		209,512,070		209,181,855	$	837,351	$	874,107

Balance Sheet Components - Summary of Future Amortization of Intangible Assets (Details) $ in Thousands	Mar. 31, 2022 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
2023	$ 18,209
2024	15,105
2025	10,759
2026	10,759
2027	8,426
Thereafter	10,647
Finite-Lived Intangible Assets, Net, Total	$ 73,905

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Mar. 31, 2022

Summary of Significant Customer Information

Significant customer information is as follows:


	Year Ended March 31,
	2022			2021
Percentage of accounts receivable:
Customer G		44	%		0	%
Customer C		25	%		35	%
Customer F		19	%		0	%
Customer D		0	%		40	%


	Year Ended March 31,
	2022			2021			2020
Percentage of revenue:
Customer C		20	%		21	%		25	%
Customer B		17	%		16	%		8	%

Summary Of Revenue By Category

The following table presents revenue by category:


	Year Ended March 31,
	2022					2021					2020
	Amount		% of Revenue			Amount		% of Revenue			Amount		% of Revenue
	(in thousands, except percentages)
Point in Time
PGS	$	189,703		70	%	$	191,066		78	%	$	263,679		86	%
Telehealth (1)		15,299		6	%		—		0	%		—		0	%
Consumer services		205,002		76	%		191,066		78	%		263,679		86	%
Research services		—		0	%		—		0	%		—		0	%
Therapeutics		—		0	%		54		0	%		5,556		2	%
Total	$	205,002		76	%	$	191,120		78	%	$	269,235		88	%

Over Time
PGS	$	12,978		5	%	$	6,459		3	%	$	7,960		3	%
Telehealth (1)		3,908		1	%		—		0	%		—		0	%
Consumer services		16,886		6	%		6,459		3	%		7,960		3	%
Research services		50,005		18	%		46,341		19	%		28,268		9	%
Therapeutics		—		0	%		—		0	%		—		0	%
Total	$	66,891		24	%	$	52,800		22	%	$	36,228		12	%

Total Revenue
PGS	$	202,681		75	%	$	197,525		81	%	$	271,639		89	%
Telehealth (1)		19,207		7	%		—		0	%		—		0	%
Consumer services		221,888		82	%		197,525		81	%		271,639		89	%
Research services		50,005		18	%		46,341		19	%		28,268		9	%
Therapeutics		—		0	%		54		0	%		5,556		2	%
Total	$	271,893		100	%	$	243,920		100	%	$	305,463		100	%

(1)

For the year ended March 31, 2022, telehealth revenue included the five month period from the close of the acquisition of Lemonaid Health on November 1, 2021 through March 31, 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 or the location where the services are delivered:


	Year Ended March 31,
	2022					2021					2020
	Amount		% of Revenue			Amount		% of Revenue			Amount		% of Revenue
	(in thousands, except percentages)
United States	$	192,438		71	%	$	176,120		72	%	$	241,769		79	%
United Kingdom		58,477		22	%		49,386		20	%		41,770		14	%
Canada		14,293		5	%		12,172		5	%		14,481		5	%
Other regions		6,685		2	%		6,242		3	%		7,443		2	%
International		79,455		29	%		67,800		28	%		63,694		21	%
Total	$	271,893		100	%	$	243,920		100	%	$	305,463		100	%

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 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

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,
	2022			2021			2020
	(in thousands)
Segment Revenue
Consumer and Research Services	$	271,893		$	243,866		$	299,907
Therapeutics		—			54			5,556
Total Revenue	$	271,893		$	243,920		$	305,463
Segment Adjusted EBITDA
Consumer and Research Services Adjusted EBITDA	$	(30,112	)	$	12,796		$	(65,845	)
Therapeutics Adjusted EBITDA		(76,944	)		(58,734	)		(52,883	)
Unallocated Corporate		(43,684	)		(30,587	)		(28,460	)
Total Adjusted EBITDA	$	(150,740	)	$	(76,525	)	$	(147,188	)

Reconciliation of net loss to Adjusted EBITDA
Net Loss	$	(217,490	)	$	(183,619	)	$	(250,863	)
Adjustments:
Interest (income) expense, net		(277	)		(255	)		(6,244	)
Other (income) expense, net		83			(1,322	)		(1,340	)
Change in fair value of warrant liabilities		(32,989	)		—			—
Income tax benefit		(3,480	)		—			—
Depreciation and amortization		18,899			20,246			22,610
Amortization of acquired intangible assets		7,269			—			—
Stock-based compensation expense		57,933			88,425			43,957
Restructuring and other charges (1)		—			—			44,692
Acquisition-related costs (2)		9,362			—			—
Litigation settlement (3)		9,950			—			—
Total Adjusted EBITDA	$	(150,740	)	$	(76,525	)	$	(147,188	)

(1)

For the year ended March 31, 2020, restructuring includes $0.9 million of stock-based compensation expense related to restructuring activities.

(2)

For the fiscal year ended March 31, 2022, acquisition-related costs primarily consisted of advisory, legal and consulting fees related to the Lemonaid Acquisition.

(3)

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,
	2022				2021				2020
	(in thousands, except percentages)
Consumer and Research Services Segment Revenue:
Customer C(1)	$	53,875	20	%	$	51,786	21	%	$	76,087	25	%
Customer B(2)	$	46,064	17	%	$	39,917	16	%	$	23,768	8	%
Therapeutics Segment Revenue:
Customer B(2)	$	—	0	%	$	—	0	%	$	2,981	54	%
Customer E(2)	$	—	0	%	$	54	100	%	$	2,575	46	%

(1)

Customer C revenues are primarily in the United States.

(2)

Customer B revenues are in the U.K. and Customer E is in a region other than the United States, U.K., or Canada.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Mar. 31, 2022