Company: CVLT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001169561-25-000069
Chunk: 45

Company: COMMVAULT SYSTEMS INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 8
Chunk 45
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 Company's leverage ratio. As of June 30, 2025, there were no borrowings under the Credit Facility and we were in compliance with all covenants.We have deferred the expense related to debt issuance costs, which are classified as other assets, and will amortize the costs into interest expense over the term of the Credit Facility. Unamortized amounts as of June 30, 2025 were $1,959. The amortization of debt issuance costs and interest expense incurred for the three months ended June 30, 2025 and 2024 was as follows:Three Months Ended June 30,20252024Amortization of debt issuance costs$85 $29 Interest expense168 63 Total charges$253 $92 

13.    Subsequent Event

On July 24, 2025, we signed an agreement to acquire all of the shares of Satori Cyber, Ltd., a data and AI security company, for total cash consideration of approximately $24,000, subject to customary transaction adjustments. The primary reason for the business combination is to advance our cyber resilience strategy. As the transaction occurred subsequent to quarter-end, we are still evaluating the purchase price allocation but expect the primary assets acquired to be intangible assets and goodwill. The closing is expected to be finalized in the second quarter of fiscal 2026.

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Table of Contents

Item 2 - Management’s Discussion and Analysis of Financial Condition and Results of Operations

You should read the following discussion and analysis along with our consolidated financial statements and the related notes included elsewhere in this Quarterly Report on Form 10-Q. The statements in this discussion regarding our expectations of our future performance, liquidity and capital resources, and other non-historical statements are forward-looking statements. These forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, the risks and uncertainties described under “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended March 31, 2025. Our actual results may differ materially from those contained in or implied by any forward-looking statements.

Overview

Commvault Systems, Inc. aims to provide its customers cyber resiliency by protecting and recovering their data and cloud-native applications in a world of increasing cyber threats and attacks, including ransomware. We provide products and services across many types of environments, including on-premises, hybrid and multi-cloud. Our offerings are delivered via self-managed software, software-as-a-service ("SaaS"), integrated