Company: CVLT
Filing Date: 2025-05-05
Form Type: 10-K
Source: 0001169561-25-000034
Chunk: 92

Company: COMMVAULT SYSTEMS INC
Filing Date: 2025-05-05
Form: 10-K
Item: Item 8
Chunk 92
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 We expect that substantially all of the goodwill acquired in this transaction will be deductible for income tax purposes. During the fiscal year ended March 31, 2025, we incurred costs related to the acquisition of Clumio of approximately $1,858, which were included in general and administrative expenses. The following table summarizes the final purchase price allocation:Assets acquired and liabilities assumed:Trade accounts receivable$1,161 Other current assets394 Deferred tax asset380 Intangible assets18,100 Accounts payable and accrued liabilities(3,087)Deferred revenue(8,370)Total identifiable net assets acquired and liabilities assumed8,578 Goodwill35,733 Total purchase price$44,311 We also entered into compensation arrangements with the co-founders and certain employees of Clumio, which included granting approximately $13,000 in restricted stock units and performance stock units that vest over the next three years. The performance stock units have the potential to vest between 0% and 100% if certain performance goals are met over three years. These awards are included in the restricted stock unit table in Note 11 of the notes to the consolidated financial statements.

62

Commvault Systems, Inc. Notes to Consolidated Financial Statements — (Continued) (In thousands, except per share data) 

Actual and Unaudited Pro Forma InformationWe completed the acquisition of Appranix on April 15, 2024, and the acquisition of Clumio on October 1, 2024. Accordingly, the operations of both Appranix and Clumio are included in our consolidated statements of operations from the dates of the acquisitions to March 31, 2025.The following unaudited pro forma results of operations have been prepared using the acquisition method of accounting to give effect to the Appranix and Clumio acquisitions as though they occurred on April 1, 2023. The pro forma amounts reflect certain adjustments, such as expenses related to the noncash amortization of intangible assets, stock-based compensation, and acquisition-related costs. The fiscal 2025 supplemental pro forma net income was adjusted to exclude $2,541 of acquisition-related costs and $2,060 of expense related to changes in the estimated fair value of contingent consideration incurred in fiscal 2025. The fiscal 2024 supplemental pro forma net income was adjusted to include these charges. In addition, both periods include noncash amortization expenses related to intangible assets and stock-based compensation as if the acquisitions had taken place