Company: CVLT
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001169561-25-000089
Chunk: 89

Company: COMMVAULT SYSTEMS INC
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 2
Chunk 89
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 management’s judgment in its application, while in other cases, significant judgment is required in selecting among available alternative accounting standards that allow different accounting treatment for similar transactions. We consider these policies requiring significant management judgment to be critical accounting policies. These critical accounting policies are:

•Revenue Recognition

•Accounting for Income Taxes

•Goodwill and Purchased Intangible Assets

There have been no significant changes in our critical accounting policies during the six months ended September 30, 2025 as compared to the critical accounting policies and estimates disclosed in “Management’s Discussion and Analysis of Financial Condition and Results of Operations - Critical Accounting Policies” included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2025.

27

Results of Operations

Amounts reported in millions are rounded based on the amounts in thousands. As a result, the sum of the components reported in millions may not equal the total amount reported in millions due to rounding.

Three months ended September 30, 2025 compared to three months ended September 30, 2024

Revenues ($ in millions)

Three Months Ended September 30,20252024% ChangeSubscription:Term-based license$92.6 $84.4 10 %SaaS80.0 49.6 61 %Total subscription172.7 134.0 29 %Perpetual license12.1 10.5 15 %Customer support80.2 77.7 3 %Other services11.2 11.0 2 %Total revenues$276.2 $233.3 18 %

–Total revenues increased $42.9 million, or 18% year over year, driven by increases in both term-based license revenue and SaaS revenue. We remain focused on selling subscription arrangements through both term-based software licenses and SaaS offerings.

–Term-based license revenue increased $8.2 million, or 10% year over year, as a result of a 17% increase in transaction volume tempered by a shift in term duration which reduced average deal size period over period.

–SaaS revenue increased $30.4 million, or 61% 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 increased $1.6 million, or 15% year over year. Perpetual licenses are generally only sold in certain verticals and geographies.

–Customer