Company: CVLT
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001169561-25-000089
Chunk: 19

Company: COMMVAULT SYSTEMS INC
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 1
Chunk 19
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 currently party to any pending legal action that could reasonably be expected to have a material adverse effect on our business or operating results.

9.    Capitalization

On April 17, 2025, our board of directors (the "Board") approved an increase of the existing share repurchase program so that $250,000 was available. The Board's authorization has no expiration date. For the six months ended September 30, 2025, we repurchased $146,073 of our common stock, or approximately 819 shares, of which $117,660, or approximately 658 shares, was made in connection with the Notes. The shares repurchased during the period were funded primarily from the net proceeds received from the issuance of the Notes, as well as from existing cash and cash equivalents balances and cash flows provided by our operations. The remaining amount available under the current authorization as of September 30, 2025 was $103,927.

10.    Stock Plans

The following table presents the stock-based compensation expense included in cost of revenues, sales and marketing, research and development, general and administrative and restructuring expenses for the three and six months ended September 30, 2025 and 2024. Stock-based compensation is attributable to RSUs, PSUs and the ESPP. Three Months Ended September 30,Six Months Ended September 30, 2025202420252024Cost of revenues$1,323 $1,374 $2,572 $2,955 Sales and marketing12,757 11,631 25,343 21,117 Research and development7,752 5,555 14,822 10,719 General and administrative9,981 7,663 19,181 13,828 Restructuring411 180 486 4,188 Stock-based compensation expense$32,224 $26,403 $62,404 $52,807 As of September 30, 2025, there was $162,735 of unrecognized stock-based compensation expense that is expected to be recognized over a weighted average period of 1.59 years. We account for forfeitures as they occur. To the extent that awards are forfeited, stock-based compensation will be different from our current estimate.Restricted Stock UnitsRestricted stock unit activity for the six months ended September 30, 2025 was as follows:Non-vested Restricted Stock UnitsNumber ofAwardsWeighted Average GrantDate