Company: CVLT
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001169561-25-000089
Chunk: 76

Company: COMMVAULT SYSTEMS INC
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 8
Chunk 76
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 services revenues increased 18% primarily due to the timing professional services were delivered compared to the same period of the prior year.

▪The increase in International total revenues was due to increases of 54%, 40%, 8% and 13% in term-based license, SaaS, customer support and other services revenues, respectively, partially offset by a decrease of 13% in perpetual license revenue, as compared to the same period of the prior year.

Our total revenues in International is subject to changes in foreign exchange rates as further discussed above in the “Foreign Currency Exchange Rates’ Impact on Results of Operations” section.

Cost of Revenues and Gross Margin ($ in millions)

 Six Months Ended September 30,20252024Cost of RevenuesGrossMarginCost of RevenuesGrossMarginSubscription:Term-based license$4.7 98 %$4.1 97 %SaaS55.2 64 %32.9 65 %Total subscription59.8 83 %37.1 86 %Perpetual license0.4 98 %0.8 97 %Customer support29.1 82 %29.6 81 %Other services16.5 34 %15.2 30 %Total cost of revenues$105.8 81 %$82.7 82 %

–Total cost of revenues increased $23.2 million and represented 19% of our total revenues for the six months ended September 30, 2025 compared to 18% for the six months ended September 30, 2024.

–Cost of term-based license revenue increased $0.5 million and represented 2% of our term-based license revenue for the six months ended September 30, 2025 compared to 3% for the six months ended September 30, 2024.

–Cost of SaaS revenue increased $22.2 million and represented 36% of our SaaS revenue for the six months ended September 30, 2025 compared to 35% for the six months ended September 30, 2024. The year over year increase is primarily the result of incremental hosting costs associated with acquisitions and an increase in the cost of infrastructure related to growth in our SaaS offerings.

–Cost of perpetual license revenue decreased $0.3 million and represented 2% of our total perpetual revenue for the six months ended September 30, 2025 compared to 3%