C
COMMVAULT SYSTEMS INC
CVLTCIK 0001169561NasdaqLarge AcceleratedServices-Prepackaged SoftwareDelawareFY ends Mar 31
Period
FY 2026
Revenue
$1.18B
Net Income
$70.66M
Total Assets
$1.89B
Equity
$7.49M
Shares Out
41.25M
Op. Cash Flow
$244.68M
Business
Commvault Systems Inc provides cyber resilience by protecting and recovering data and cloud-native applications across on‑premises, hybrid and multi‑cloud environments. It offers products and services including Commvault Cloud (Operational Recovery, Autonomous Recovery, Cyber Recovery), HyperScale X, Cleanroom Recovery, Air Gap Protect, Compliance, Cloud Rewind, Clumio Backtrack, and professional services such as support, consulting, recovery, education and managed cyber resilience services. Its business is organized around product offerings and complementary Professional & Customer Support Services. Commvault sells through a global direct sales force, partner channels, distributors, service providers and cloud marketplace platforms.
Summary from filing dated 2025-05-05
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | Mar 31, 2026 2026-03-31 | Mar 31, 2025 2025-03-31 | Mar 31, 2024 2024-03-31 |
|---|---|---|---|---|
| Revenues: | — | — | — | |
| Total revenues | 1,184 | 996 | 839 | |
| Cost of revenues: | — | — | — | |
| Total cost of revenues | 223 | 179 | 152 | |
| Gross margin | 961 | 817 | 688 | |
| Operating expenses: | — | — | — | |
| Sales and marketing | 520 | 434 | 355 | |
| Research and development | 162 | 146 | 132 | |
| General and administrative | 163 | 138 | 114 | |
| Depreciation and amortization | 10 | 9 | 6 | |
| Restructuring | 32 | 10 | 5 | |
| Change in contingent consideration | −545,000 | 2 | 0 | |
| Impairment charges | 0 | 3 | 0 | |
| Total operating expenses | 887 | 743 | 612 | |
| Income from operations | 74 | 74 | 75 | |
| Interest income | 22 | 7 | 5 | |
| Interest expense | 4 | 416,000 | 415,000 | |
| Other income, net | 119,000 | 1 | 3 | |
| Income before income taxes | 92 | 81 | 84 | |
| Income tax expense (benefit) | 21 | 5 | −85 | |
| Net income | 71 | 76 | 169 | |
| Net income per common share: | — | — | — | |
| Basic (in dollars per share) | 1.61 | 1.74 | 3.85 | |
| Diluted (in dollars per share) | 1.58 | 1.68 | 3.75 | |
| Weighted average common shares outstanding: | — | — | — | |
| Basic (in shares) | 44 | 44 | 44 | |
| Diluted (in shares) | 45 | 45 | 45 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | Mar 31, 2026 2026-03-31 | Mar 31, 2025 2025-03-31 |
|---|---|---|---|
| ASSETS | — | — | |
| Current assets: | — | — | |
| Cash and cash equivalents | 900 | 302 | |
| Trade accounts receivable, net | 330 | 252 | |
| Assets held for sale | 0 | 35 | |
| Other current assets | 56 | 46 | |
| Total current assets | 1,287 | 635 | |
| Deferred tax assets, net | 154 | 133 | |
| Property and equipment, net | 10 | 8 | |
| Operating lease assets | 35 | 10 | |
| Deferred commissions cost | 104 | 79 | |
| Intangible assets, net | 20 | 21 | |
| Goodwill | 209 | 185 | |
| Other assets | 68 | 46 | |
| Total assets | 1,886 | 1,118 | |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | — | — | |
| Current liabilities: | — | — | |
| Accounts payable | 651,000 | 373,000 | |
| Accrued liabilities | 166 | 147 | |
| Current portion of operating lease liabilities | 7 | 5 | |
| Deferred revenue | 485 | 403 | |
| Total current liabilities | 658 | 555 | |
| Convertible notes, net | 881 | 0 | |
| Deferred revenue, less current portion | 294 | 223 | |
| Deferred tax liabilities | 2 | 1 | |
| Long-term operating lease liabilities | 30 | 6 | |
| Other liabilities | 15 | 7 | |
| Commitments and contingencies (Note 9) | — | — | |
| Stockholders’ equity: | — | — | |
| Preferred stock, $0.01 par value: 50,000 shares authorized, no shares issued and outstanding | 0 | 0 | |
| Common stock, $0.01 par value, 250,000 shares authorized, 41,255 shares and 44,104 shares issued and outstanding at March 31, 2026 and 2025, respectively | 412,000 | 441,000 | |
| Additional paid-in capital | 1,496 | 1,474 | |
| Accumulated deficit | −1,472 | −1,134 | |
| Accumulated other comprehensive loss | −16 | −16 | |
| Total stockholders’ equity | 7 | 325 | |
| Total liabilities and stockholders’ equity | 1,886 | 1,118 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | Mar 31, 2026 2026-03-31 | Mar 31, 2025 2025-03-31 | Mar 31, 2024 2024-03-31 |
|---|---|---|---|---|
| Cash flows from operating activities | — | — | — | |
| Net income | 71 | 76 | 169 | |
| Adjustments to reconcile net income to net cash provided by operating activities: | — | — | — | |
| Depreciation and amortization | 10 | 9 | 6 | |
| Amortization of debt issuance costs | 3 | 115,000 | 115,000 | |
| Amortization of deferred commissions costs | 48 | 33 | 27 | |
| Noncash stock-based compensation | 123 | 113 | 95 | |
| Noncash operating lease expense | 8 | 6 | 7 | |
| Noncash change in fair value of equity securities | 68,000 | −364,000 | 17,000 | |
| Noncash change in fair value of contingent consideration | −545,000 | 2 | 0 | |
| Noncash adjustment on headquarters sale leaseback | −495,000 | 0 | 0 | |
| Noncash impairment charges | 0 | 3 | 0 | |
| Noncash lease impairment | 1 | 0 | 0 | |
| Deferred income taxes | 8 | −23 | −110 | |
| Changes in operating assets and liabilities: | — | — | — | |
| Trade accounts receivable, net | 74 | 62 | 22 | |
| Operating lease liabilities | −8 | −7 | −6 | |
| Other current assets and Other assets | 21 | 9 | −336,000 | |
| Deferred commissions cost | 74 | 50 | 30 | |
| Accounts payable | 252,000 | −948,000 | 195,000 | |
| Accrued liabilities | 12 | 25 | 17 | |
| Deferred revenue | 136 | 88 | 50 | |
| Other liabilities | 723,000 | 4 | 65,000 | |
| Net cash provided by operating activities | 245 | 207 | 204 | |
| Cash flows from investing activities | — | — | — | |
| Purchase of property and equipment | 8 | 4 | 4 | |
| Purchase of equity securities | 7 | 1 | 1 | |
| Proceeds from sale of headquarters, net | 35 | 0 | 0 | |
| Business combination, net of cash acquired | 26 | 65 | 0 | |
| Net cash used in investing activities | −5 | −70 | −6 | |
| Cash flows from financing activities | — | — | — | |
| Repurchase of common stock | 446 | 165 | 184 | |
| Proceeds from stock-based compensation plans | 15 | 18 | 13 | |
| Proceeds from issuance of convertible notes | 900 | 0 | 0 | |
| Purchase of capped calls | 100 | 0 | 0 | |
| Payment of contingent liability | 0 | 340,000 | 0 | |
| Payment of debt issuance costs | 23 | 0 | 0 | |
| Other | −66,000 | 0 | 0 | |
| Net cash provided by (used in) financing activities | 345 | −148 | −171 | |
| Effects of exchange rate — changes in cash | 13 | 185,000 | −3 | |
| Net increase (decrease) in cash and cash equivalents | 598 | −11 | 25 | |
| Cash and cash equivalents at end of year | — | — | — | |
| Cash and cash equivalents at end of year | — | — | — | |
| Supplemental disclosures of cash flow information | — | — | — | |
| Income taxes paid | 14 | 42 | 20 | |
| Noncash activities: | — | — | — | |
| Issuance of common stock for business combination | 0 | 5 | 0 | |
| Operating lease liabilities arising from obtaining right-of-use assets | 36 | 6 | 6 |
Filings
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