Company: CVLT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001169561-25-000069
Chunk: 38

Company: COMMVAULT SYSTEMS INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 8
Chunk 38
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 obligations is indicative of future sales or revenue or that the mix at the end of any given period correlates with actual sales performance.Information about Contract BalancesAmounts collected in advance of services being provided are accounted for as deferred revenue. Nearly all of our deferred revenue balance is related to SaaS, customer support, and other services.In some arrangements we allow customers to pay for term-based licenses over the term of the software license. When a term-based license arrangement contains payment terms that extend beyond one year, a significant financing component may exist. The significant financing component is calculated as the difference between the stated value and present value of the license and is recognized as interest income over the extended payment period. The total license fee net of the significant financing component is recognized as revenue at the point in time when the software is transferred to the customer. Interest income from significant financing components was not material for the three months ended June 30, 2025 and 2024.Amounts recognized as revenue in excess of amounts billed are recorded as unbilled receivables. Unbilled receivables which are anticipated to be invoiced in the next 12 months are included in accounts receivable on the consolidated balance sheets. Long-term unbilled receivables are included in other assets. The opening and closing balances of our accounts receivable, unbilled receivables, and deferred revenues are as follows:Accounts receivableUnbilled receivable(current)Unbilled receivable(long-term)Deferred revenue(current)Deferred revenue(long-term)Opening balance as of March 31, 2025$222,400 $29,595 $31,343 $402,930 $223,282 Increase/(decrease)(3,021)6,474 (2,440)20,226 18,432 Ending balance as of June 30, 2025$219,379 $36,069 $28,903 $423,156 $241,714 The net increase in accounts receivable (inclusive of unbilled receivables) is primarily the result of an increase in revenue relative to the fourth quarter of the prior fiscal year. The increase in deferred revenue is primarily the result of an increase in deferred customer support renewals during the first quarter of fiscal 2026 as well as an increase in SaaS contracts which are billed upfront but recognized ratably over the contract period.

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Table of Contents      Commvault Systems, Inc.Notes to Consolidated Financial Statements - Unaudited