Company: CVLT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001169561-25-000069
Chunk: 65

Company: COMMVAULT SYSTEMS INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 2
Chunk 65
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 region includes the United States, Canada, and Latin America. Our International region primarily includes Europe, Middle East, Africa, Australia, India, Southeast Asia and China. Americas and International represented 61% and 39% of total revenues, respectively, for the three months ended June 30, 2025. Total revenues increased 23% and 29% year over year in the Americas and International, respectively.

▪The increase in Americas total revenues was primarily due to increases of 16% and 82% in term-based license and SaaS revenues, respectively, partially offset by a 37% decrease in perpetual license revenue, driven by the shift from selling perpetual licenses to subscription software arrangements. Customer support revenue increased 1% year over year. Other services revenue increased 45% year over year primarily due to the timing professional services were delivered compared to the same period of the prior year.

▪The increase in International total revenues was due to increases of 90%, 42%, 7% and 11% in term-based license, SaaS, customer support and other services revenues, respectively, partially offset by a decrease of 51% in perpetual license revenue, as compared to the same period of the prior year.

Our total revenues in International is subject to changes in foreign exchange rates as further discussed above in the “Foreign Currency Exchange Rates’ Impact on Results of Operations” section. 

23

Cost of Revenues and Gross Margin ($ in millions)

 Three Months Ended June 30,20252024Cost of RevenuesGrossMarginCost of RevenuesGrossMarginSubscription:Term-based license$2.2 98 %$1.8 98 %SaaS26.0 64 %15.8 64 %Total subscription28.2 84 %17.5 86 %Perpetual license0.2 97 %0.3 98 %Customer support14.2 82 %14.3 81 %Other services8.1 42 %7.6 28 %Total cost of revenues$50.8 82 %$39.8 82 %

–Total cost of revenues increased $11.0 million and represented 18% of our total revenues for the three months ended June 30, 2025 and 2024.

–Cost of term-based license revenue increased $0.5 million and represented 2% of our term-based license revenue for the three months ended June