Company: CVLT
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001169561-25-000089
Chunk: 16

Company: COMMVAULT SYSTEMS INC
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 1
Chunk 16
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 and earnings generated during the current fiscal year, were not material for disclosure purposes.

14

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

5.    Goodwill and Intangible Assets, Net

GoodwillGoodwill represents the residual purchase price paid in business combinations after the fair value of all identified assets and liabilities have been recorded. It includes the estimated value of the integration of acquired technology into current product offerings, the potential expansion with new customers, the opportunity to further develop sales relationships with new customers and intangible assets that do not qualify for separate recognition. Goodwill is not amortized and there were no impairments to the carrying amounts of goodwill during the six months ended September 30, 2025 and 2024. Approximately $35,033 of the goodwill recorded is expected to be deductible for income tax purposes.Changes in goodwill during the six months ended September 30, 2025 were as follows:TotalBalance as of March 31, 2025$185,255 Additions25,061 Balance as of September 30, 2025$210,316 Intangible Assets, NetIntangible assets consist of developed technology and customer relationships. Developed technology acquired in fiscal 2026 and 2025 has an estimated useful life of five years. Previously acquired developed technology had an estimated useful life of three years, and was fully amortized as of the end of fiscal 2025. Customer relationships acquired in fiscal 2025 have an estimated useful life of ten years. All of our intangible assets are amortized on a straight-line basis. Purchased intangible assets, net of amortization are summarized below:September 30, 2025March 31, 2025Gross Carrying AmountAccumulated AmortizationNet Carrying ValueGross Carrying AmountAccumulated AmortizationNet Carrying ValueCustomer relationships$3,800 $(380)$3,420 $3,800 $(190)$3,610 Developed technology27,050 (8,244)18,806 23,350 (6,223)17,127 Total intangible assets$30,850 $(8,624)$22,226 $27,150 $(6,413)$20,737 During the six months ended September 30, 2025, we acquired developed technology valued at $3,700 as