Company: CVLT
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001169561-25-000089
Chunk: 80

Company: COMMVAULT SYSTEMS INC
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 8
Chunk 80
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 interest at a per annum rate determined by the Company’s election of either the Secured Overnight Financing Rate plus a margin ranging from 1.50% to 2.00%, or a base rate, which is generally the greater of a prime rate plus a margin ranging from 0.50% to 1.00%. The applicable margin in each case is contingent upon the Company’s leverage ratio. Additionally, the unused balance on the Credit Facility is subject to an unused commitment fee ranging from 0.25% to 0.35% per annum based on the Company's leverage ratio. As of September 30, 2025, there were no borrowings under the Credit Facility and we were in compliance with all covenants.

On April 17, 2025, the Board approved an increase of the existing share repurchase program so that $250.0 million was available. The Board's authorization has no expiration date. For the six months ended September 30, 2025, we repurchased $146.1 million of our common stock, of which $117.7 million was used in connection with the Notes and paid from the net proceeds. The remaining amount available under the current authorization as of September 30, 2025 was $103.9 million.

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Our summarized cash flow information is as follows (in millions):

 Six Months Ended September 30, 20252024Net cash provided by operating activities$108.5 $100.3 Net cash used in investing activities(2.9)(24.3)Net cash provided by (used in) financing activities639.0 (92.2)Effects of exchange rate - changes in cash16.9 6.5 Net increase (decrease) in cash and cash equivalents$761.5 $(9.7)

–Net cash provided by operating activities was impacted by net income adjusted for the impact of non-cash charges, an increase in deferred revenue and a decrease in accounts receivable, partially offset by a decrease in accrued expenses.

–Net cash used in investing activities was the result of $26.0 million for the acquisition of Satori Cyber Ltd., $6.6 million for the purchase of equity securities and $5.1 million of capital expenditures, partially offset by $34.8 million of net proceeds from the sale of Commvault's corporate headquarters.

–Net cash provided by financing activities was the result of $900.0 million of proceeds from the issuance of the Notes and $7