Company: CVLT
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001169561-25-000089
Chunk: 15

Company: COMMVAULT SYSTEMS INC
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 1
Chunk 15
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,163 $422,947 $252,608 The net decrease in accounts receivable (inclusive of unbilled receivables) is primarily the result of the timing of our billings and cash collections. The increase in deferred revenue is primarily the result of an increase in SaaS contracts which are billed upfront but recognized ratably over the contract period and an increase in deferred customer support revenue.The amount of revenue recognized in the period that was included in the opening deferred revenue balance was $119,244 and $264,029 for the three and six months ended September 30, 2025, respectively. The majority of this revenue consists of SaaS and customer support. The amount of revenue recognized from performance obligations satisfied in prior periods was not significant.

13

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

4.    Business Combination

On August 28, 2025, we completed the acquisition of 100% of the shares of Satori Cyber, Ltd. ("Satori"), an Israel-based data and AI security company, for a preliminary purchase price of $28,257 in cash consideration. The primary reason for the acquisition was to extend and enhance our product portfolio with data security and AI governance solutions.During the three and six months ended September 30, 2025, we incurred acquisition-related costs of $1,257, which were included in general and administrative expenses. The following table summarizes the preliminary purchase price allocation as of the date of acquisition:Assets acquired and liabilities assumed:Cash$2,242 Trade accounts receivable267 Other current assets and Other assets272 Operating lease assets381 Deferred tax assets, net1,119 Developed technology3,700 Accounts payable and Accrued liabilities(671)Operating lease liabilities(381)Long-term tax reserves(2,469)Deferred revenue(1,264)Total identifiable net assets acquired and liabilities assumed3,196 Goodwill25,061 Total purchase price$28,257 The purchase price allocation is preliminary as it relates to customary closing adjustments and the valuation of income taxes. The amounts recognized will be finalized as the information necessary to complete the analysis is obtained, but no later than one year after the acquisition date.The pro forma financial information of the above business acquisition, assuming the acquisition had occurred as of the beginning of the fiscal year prior to the fiscal year of the acquisition, as well as revenue