Company: CVLT
Filing Date: 2025-01-29
Form Type: 10-Q
Source: 0001169561-25-000007
Chunk: 49

Company: COMMVAULT SYSTEMS INC
Filing Date: 2025-01-29
Form: 10-Q
Item: Item 8
Chunk 49
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,956 Basic net income per common share$0.25 $0.39 $1.03 $0.97 Diluted net income per common share:Basic weighted average shares outstanding43,889 43,862 43,779 43,956 Dilutive effect of stock options and restricted stock units1,295 937 1,398 1,064 Diluted weighted average shares outstanding45,184 44,799 45,177 45,020 Diluted net income per common share$0.24 $0.38 $1.00 $0.95 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 179 and 121 for the three months ended December 31, 2024 and 2023, respectively, and 239 and 505 for the nine months ended December 31, 2024 and 2023, respectively, because the effect would have been anti-dilutive.

8.    Commitments and Contingencies 

During the first quarter of fiscal 2025, we entered into a settlement agreement resulting in a payment of $1,475 which resolved certain legal matters. For the nine months ended December 31, 2024, $675 was recorded in general and administrative expenses and the remaining $800 was incurred in a prior period that is not presented in the consolidated statements of operations. 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.The Company has a contingent liability related to the acquisition of Appranix. Refer to Note 4 for further details of the arrangement.

9.    Capitalization

Our stock repurchase program has been funded by our existing cash and cash equivalent balances, as well as cash flows provided by our operations. On April 18, 2024, 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 nine months ended December 31, 2024, we repurchased $135,194 of our common stock, or approximately 1,033 shares. The remaining amount available under the current authorization as of December 31, 2024 was $121,292.

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Table of Contents      Commvault Systems, Inc.Notes