Company: CVLT
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001169561-25-000089
Chunk: 93

Company: COMMVAULT SYSTEMS INC
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 2
Chunk 93
---
.S. businesses. Included in this legislation are provisions that allow for the immediate expensing of domestic research and development expenses, extensions of bonus depreciation, and modifications to the international tax regimes. The provisions in the legislation are generally effective beginning in our fiscal 2026. The Company is continuing to evaluate the impact of these provisions on its financial statements, but an estimate of the financial impact has been included in our operating results for the three months ended September 30, 2025. The OBBBA did not have a material impact to our income tax provision for the three months ended September 30, 2025.

Six months ended September 30, 2025 compared to six months ended September 30, 2024

Revenues ($ in millions)

Six Months Ended September 30,20252024% ChangeSubscription:Term-based license$201.9 $164.8 23 %SaaS152.5 93.3 63 %Total subscription354.4 258.1 37 %Perpetual license19.4 24.3 (20)%Customer support159.3 154.0 3 %Other services25.1 21.6 16 %Total revenues$558.2 $458.0 22 %

–Total revenues increased $100.2 million, or 22% year over year, driven primarily by increases in both term-based license revenue and SaaS revenue, partially offset by a decrease in perpetual license revenue. We remain focused on selling subscription arrangements through both term-based software licenses and SaaS offerings.

–Term-based license revenue increased $37.1 million, or 23% year over year, primarily due to a 22% increase in larger transactions (deals greater than $0.1 million) period over period. This increase was driven by a 20% increase in transaction volume.

–SaaS revenue increased $59.2 million, or 63% year over year, as a result of growth in SaaS ARR driven by both new customer acquisitions and expansion of our existing customer base.

–Perpetual license revenue decreased $4.9 million, or 20% year over year. Perpetual licenses are generally only sold in certain verticals and geographies.

–Customer support revenue increased $5.3 million, or 3% year over year, driven by a $15.7 million increase in customer support revenue related to term-based license arrangements, partially offset by a $10.4 million