Company: CVLT
Filing Date: 2025-01-29
Form Type: 10-Q
Source: 0001169561-25-000007
Chunk: 63

Company: COMMVAULT SYSTEMS INC
Filing Date: 2025-01-29
Form: 10-Q
Item: Item 8
Chunk 63
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, driven by the shift from selling perpetual licenses to subscription arrangements. Customer support and other services revenues declined 2% and 1%, respectively. 

▪The increase in International total revenues was primarily due to a 31% increase in subscription revenue, offset by a 3% decrease in perpetual license revenue. Customer support revenue increased 2% year over 

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year. Other services revenue declined 6% year over year due to a decrease in the delivery of professional services for the region 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. 

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Cost of Revenues and Gross Margin ($ in millions)

 Nine Months Ended December 31,20242023Cost of RevenuesGrossMarginCost of RevenuesGrossMarginSubscription$63.1 85 %$42.9 86 %Perpetual license1.2 97 %1.9 96 %Customer support43.9 81 %44.9 81 %Other services23.0 29 %22.7 32 %Total$131.3 82 %$112.5 82 %

–Total cost of revenues increased $18.8 million and represented 18% of our total revenues for both the nine months ended December 31, 2024 and 2023. 

–Cost of subscription revenue increased $20.2 million and represented 15% of our total subscription revenue for the nine months ended December 31, 2024 compared to 14% for the nine months ended December 31, 2023. The year over year increase is primarily the result of incremental hosting costs associated with the Clumio acquisition and an increase in the cost of infrastructure related to growth in our SaaS offerings. 

–Cost of perpetual license revenue decreased $0.7 million, representing 3% of our total perpetual revenue for the nine months ended December 31, 2024 compared to 4% for the nine months ended December 31, 2023. 

–Cost of customer support revenue decreased $1.0 million and represented 19% of our total customer support revenue for both the nine months ended December 31, 2024 and 2023. 

–Cost of other services revenue increased $0.3 million, representing 71% of our total other services