Company: CVLT
Filing Date: 2025-07-25
Form Type: CORRESP
Source: 0001169561-25-000064
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Company: COMMVAULT SYSTEMS INC
Filing Date: 2025-07-25
Form: CORRESP
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July 25, 2025

VIA EDGAR

United States Securities and Exchange Commission

Division of Corporation Finance

Office of Technology

100 F Street, N.E.

Washington, D.C. 20549

Attention: Chen Chen and Kathleen Collins

Re:

#### Commvault Systems, Inc.
Form 10-K for the Fiscal Year Ended March 31, 2025

#### Response dated July 2, 2025

#### File No. 001-33026
Dear Mmes. Chen and Collins:

This letter sets forth the response of Commvault Systems, Inc. (“we”, “our” or the “Company”) to the comment provided by the staff (the “Staff”) of the U.S. Securities and Exchange Commission (the “SEC”) in its comment letter dated July 24, 2025. For your convenience, we have copied below in bold type face the Staff’s comment, which is followed by the Company’s response.

Form 10-K for the Year Ended March 31, 2025

Consolidated Statements of Operations, page 47

#### 1.
We have reviewed your responses to our prior comments 3 and 4 and have the following additional comments:

• It appears that revenue generated from perpetual and term software licenses is greater than ten percent of total revenues. Therefore, it continues to be unclear to us why you have not separately presented this amount as product revenue on the face of your consolidated statements of operations in accordance with Rule 5-03(b) of Regulation S-X.

• We note you have concluded that your subscription arrangements have term-based licenses and SaaS offerings that are treated as separate performance obligations. We further note that the term-based licenses are recognized when the software is delivered or made available for download and the SaaS is generally recognized ratably over the contract term beginning on the date the service is made available to the customer. However, you have not disclosed the amounts recognized in revenue related to these offerings. It is unclear to us how you have considered ASC 606-10-50-1.

• We note that you have not quantified and disclosed how revenue recognized from your term-based licenses and SaaS offerings impacts your results of operations. It is unclear to us how you have considered Item 303 of Regulation S-K.

Please advise or revise your disclosures in future filings to address these items.

U.S. Securities and Exchange Commission

July 25, 2025

Page 2

Response:

We respectfully acknowledge the Staff’s comment