Company: CVLT
Filing Date: 2025-07-02
Form Type: CORRESP
Source: 0001169561-25-000062
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Company: COMMVAULT SYSTEMS INC
Filing Date: 2025-07-02
Form: CORRESP
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July 2, 2025

VIA EDGAR

United States Securities and Exchange Commission

Division of Corporation Finance

Office of Technology

100 F Street, N.E.

Washington, D.C. 20549

Attention: Chen Chen and Kathleen Collins

Re:

#### Commvault Systems, Inc.
Form 10-K for the Fiscal Year Ended March 31, 2025

#### File No. 001-33026
Dear Mmes. Chen and Collins:

This letter sets forth the responses of Commvault Systems, Inc. (“we”, “our” or the “Company”) to the comments provided by the staff (the “Staff”) of the U.S. Securities and Exchange Commission (the “SEC”) in its comment letter dated June 17, 2025 (the “Comment Letter”). For your convenience, we have repeated the comments of the Staff in bold typeface exactly as given in the Comment Letter and set forth is our response below each comment.

Form 10-K for the Year Ended March 31, 2025

Management's Discussion and Analysis of Financial Condition and Results of Operations Overview, page 30

1. We note your present annual recurring revenue (ARR) and subscription ARR in your Item 2.02 Form 8-K earnings releases and you refer to such measures as "KPIs" in your investor presentation. We also note you present other measures such as SaaS net dollar retention rate and subscription customer growth in your investor presentations. Please tell us your consideration to include these measures in your Form 10-Q and 10-K filings. In addition, tell us whether management uses any other key performance measures in evaluating your business and if so, revise to include a qualitative and quantitative discussion of such metrics. Refer to SEC Release No. 33-10751.

Response:

We respectfully acknowledge the Staff’s comment and appreciate the opportunity to clarify our use of key performance indicators (KPIs) such as Annual Recurring Revenue (ARR), Subscription ARR, and SaaS Net Dollar Retention (SaaS NRR).

As noted, we currently disclose these metrics in our earnings releases furnished under Item 2.02 of Form 8-K and in our investor presentations, along with SaaS ARR. These metrics are used by management to

evaluate the performance of our recurring revenue business model and to communicate trends in our customer base and revenue predictability to investors.

In accordance with SEC Release No. 33-10751, which emphasizes the importance of including material KPIs and metrics