Company: CVLT
Filing Date: 2025-05-05
Form Type: 10-K
Source: 0001169561-25-000034
Chunk: 80

Company: COMMVAULT SYSTEMS INC
Filing Date: 2025-05-05
Form: 10-K
Item: Item 8
Chunk 80
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 and the exercise of stock options. The dilutive effect of such potential common shares is reflected in diluted earnings (loss) per share by application of the treasury stock method.

52

Commvault Systems, Inc. Notes to Consolidated Financial Statements — (Continued) (In thousands, except per share data) 

The following table sets forth the reconciliation of basic and diluted net income (loss) per common share: Year Ended March 31, 202520242023Net income (loss)$76,106 $168,906 $(35,774)Basic net income (loss) per common share:Basic weighted average shares outstanding43,850 43,885 44,664 Basic net income (loss) per common share$1.74 $3.85 $(0.80)Diluted net income (loss) per common share:Basic weighted-average shares outstanding43,850 43,885 44,664 Dilutive effect of stock options and restricted stock units (1)1,337 1,215 — Diluted weighted-average shares outstanding45,187 45,100 44,664 Diluted net income (loss) per common share$1.68 $3.75 $(0.80)(1) In fiscal 2023, dilutive shares have been excluded because we were in a net loss position.The diluted weighted-average shares outstanding exclude restricted stock units, performance restricted stock units, shares to be purchased under the ESPP and outstanding stock options totaling 221, 271 and 3,939 for the fiscal years ended March 31, 2025, 2024 and 2023, respectively, because the effect would have been anti-dilutive.Cash and Cash Equivalents We consider all highly liquid investments purchased with maturities of three months or less at the date of purchase to be cash equivalents.Trade and Other ReceivablesTrade and other receivables are primarily comprised of trade receivables that are recorded at the invoice amount, net of an allowance for doubtful accounts, which is not material.  Unbilled receivables represent amounts for which revenue has been recognized but which have not yet been invoiced to the customer.  The current portion of unbilled receivables is included in trade accounts receivable on the consolidated balance sheets. Long-term unbilled receivables are included in other assets. The allowance for doubtful accounts was $166 as of March 31, 2025 and