Company: CVLT
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001169561-25-000089
Chunk: 56

Company: COMMVAULT SYSTEMS INC
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 8
Chunk 56
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33 $0.36 $0.86 $0.78 Diluted net income per common share:Basic weighted average shares outstanding44,406 43,770 44,366 43,724 Dilutive effect of restricted stock units789 1,344 898 1,371 Diluted weighted average shares outstanding45,195 45,114 45,264 45,095 Diluted net income per common share$0.33 $0.35 $0.84 $0.76 The diluted weighted average shares outstanding excludes RSUs, PSUs, common shares to be purchased under the ESPP and outstanding stock options totaling 71 and 210 for the three months ended September 30, 2025 and 2024, respectively, and 64 and 218 for the six months ended September 30, 2025 and 2024, respectively, because the effect of including them would have been anti-dilutive. In addition, the Notes were excluded from diluted EPS as their inclusion would have been anti-dilutive.

16

Table of Contents      Commvault Systems, Inc.Notes to Consolidated Financial Statements - Unaudited (continued)(In thousands, except per share data)

8.    Commitments and Contingencies 

We do not believe that we are currently party to any pending legal action that could reasonably be expected to have a material adverse effect on our business or operating results.

9.    Capitalization

On April 17, 2025, our board of directors (the "Board") approved an increase of the existing share repurchase program so that $250,000 was available. The Board's authorization has no expiration date. For the six months ended September 30, 2025, we repurchased $146,073 of our common stock, or approximately 819 shares, of which $117,660, or approximately 658 shares, was made in connection with the Notes. The shares repurchased during the period were funded primarily from the net proceeds received from the issuance of the Notes, as well as from existing cash and cash equivalents balances and cash flows provided by our operations. The remaining amount available under the current authorization as of September 30, 2025 was $103,927.

10.    Stock Plans

The following table presents the stock-based compensation expense included in cost of revenues, sales and marketing, research and development, general and administrative and restructuring expenses for