0001169561false00011695612023-10-312023-10-31


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) October 31, 2023

cmvlogo.jpg
COMMVAULT SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
Delaware1-3302622-3447504
(State or other jurisdiction
of incorporation)		(Commission
file number)		(I.R.S. Employer
Identification No.)

1 Commvault Way
Tinton Falls, New Jersey 07724
(Address of principal executive offices, including zip code)

(732) 870-4000
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common StockCVLTThe Nasdaq Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 2.02 Results of Operations and Financial Condition

On October 31, 2023, Commvault issued a press release announcing its results for its second fiscal quarter ended September 30, 2023. A copy of the press release is attached hereto as Exhibit 99.1.

This information is being furnished pursuant to Item 2.02 and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into filings under the Securities Act of 1933.

Item 9.01 Financial Statements and Exhibits

(d)    Exhibits:

Exhibit No.Description
Press Release dated October 31, 2023
104Cover Page Interactive Data File (formatted as inline XBRL and contained in the Inline XBRL document)
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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

COMMVAULT SYSTEMS, INC.


Dated:October 31, 2023/s/ Gary Merrill
Gary Merrill
Chief Financial Officer
(Principal Financial Officer)

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Investor Relations Contact:    
Michael J. Melnyk, CFA
732-870-4581
mmelnyk@commvault.com


Commvault Announces Fiscal 2024 Second Quarter Financial Results


Tinton Falls, N.J. – October 31, 2023 – Commvault [Nasdaq: CVLT] today announced its financial results for the fiscal second quarter ended September 30, 2023.

“Our Q2 total revenue growth accelerated, driven by our hyper-growth SaaS platform, and we delivered robust operating margin leverage," said Sanjay Mirchandani, President and CEO. "Next week, at Commvault SHIFT, we’ll unveil our cyber resilience platform, combining our leading data protection capabilities with comprehensive new security and AI-powered innovations that are critical for customers in an era of escalating cyber-attacks.”

Fiscal 2024 Second Quarter Highlights -
•Total revenues were $201.0 million, up 7% year over year
•Total ARR1 grew to $711 million, up 18% year over year
•Subscription revenue was $97.8 million, up 25% year over year
•Subscription ARR1 grew to $530 million, up 32% year over year
•Income from operations (EBIT) was $17.6 million, an operating margin of 8.8%
•Non-GAAP EBIT2 was $42.0 million, an operating margin of 20.9%
•Operating cash flow of $40.3 million, with free cash flow2 of $40.1 million
•Second quarter share repurchases were $31.3 million, or approximately 442,000 shares of common stock







Notes are contained on the last page of this Press Release.
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Financial Outlook for Third Quarter and Full Year Fiscal 2024 -
We are providing the following guidance for the third quarter of fiscal year 2024:
•Total revenues are expected to be between $206 million and $210 million
•Subscription revenue is expected to be between $106 million and $110 million
•Non-GAAP operating margin2 is expected to be approximately 21%

We are providing the following updated guidance for the full fiscal year 2024:
•Total revenues are expected to be between $812 million and $822 million
•Total ARR1 is expected to grow 14% year over year
•Subscription revenue is expected to be between $408 million and $418 million
•Non-GAAP operating margin2 is expected to grow between 50 to 100 basis points year over year
•Free cash flow2 is expected to be approximately $170 million
The above statements are based on the incorporation of actual second quarter results and current targets. These statements are forward looking and made pursuant to the safe harbor provisions discussed in detail below. We do not undertake any obligation to update these forward-looking statements. Actual results may differ materially from anticipated results.

Conference Call Information
Commvault will host a conference call today, October 31, 2023 at 8:30 a.m. Eastern Time (5:30 a.m. Pacific Time) to discuss quarterly results. The live webcast and call dial-in numbers can be accessed by registering under the "Events" section of Commvault's website. An archived webcast of this conference call will also be available following the call.

About Commvault
Commvault (NASDAQ: CVLT) is a global leader in cloud data protection. Our industry-leading platform redefines the next generation of data protection as the only solution with comprehensive data protection, proactive data defense, advanced ransomware protection, and a single view across all your data. This lets you secure, defend, and recover your data, applications, and production workloads – on-premises, in the cloud, over SaaS, or spread across hybrid and multi-cloud environments. The result is early warning of attacks, active defense to reduce the impact of intrusion, and rapid, accurate recovery of your data. Simply put, Commvault is data, protected. For over 25 years, more than 100,000 organizations have relied on Commvault to keep their data secure and ready to drive business growth. Learn more at Commvault.com or follow us at @Commvault.


Safe Harbor Statement
This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions, outcome of litigation and others. For a discussion of these and other risks and uncertainties affecting Commvault's business, see "Item IA. Risk Factors" in our annual report on Form 10-K and "Item 1A. Risk Factors" in our most recent quarterly report on Form 10-Q. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements.









Notes are contained on the last page of this Press Release.
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Revenue Overview
($ in thousands)
Q2'23Q3'23Q4'23Q1'24Q2'24
Revenue Summary:
Subscription$78,239 $87,380 $94,537 $97,290 $97,757 
Perpetual license19,831 19,728 17,561 13,155 14,388 
Customer support77,996 77,665 77,335 76,915 77,019 
Other services11,991 10,301 14,045 10,790 11,833 
Total revenues$188,057 $195,074 $203,478 $198,150 $200,997 

Q2'23Q3'23Q4'23Q1'24Q2'24
Y/Y Growth:
Subscription50 %13 %9 %11 %25 %
Perpetual license(28)%(30)%(25)%(26)%(27)%
Customer support(11)%(10)%(9)%(5)%(1)%
Other services12 %(8)%28 %(4)%(1)%
Total revenues6 %(4)%(1)%— %7 %

Constant Currency
($ in thousands)

The constant currency impact is calculated using the average foreign exchange rates from the prior year period and applying these rates to foreign-denominated revenues in the current corresponding period. Commvault analyzes revenue growth on a constant currency basis in order to provide a comparable framework for assessing how the business performed excluding the effect of foreign currency fluctuations. The non-GAAP financial measures presented in this press release should not be considered as a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP.
SubscriptionPerpetual LicenseCustomer SupportOther ServicesTotal
Q2'23 Revenue As Reported (GAAP)
$78,239$19,831$77,996$11,991$188,057
Q2'24 Revenue As Reported (GAAP)
$97,757$14,388$77,019$11,833$200,997
% Change Y/Y (GAAP)25 %(27)%(1)%(1)%7 %
Constant Currency Impact$(953)$(328)$(1,205)$(108)$(2,594)
% Change Y/Y Constant Currency24 %(29)%(3)%(2)%6 %

Revenues by Geography
($ in thousands)

Our Americas region includes the United States, Canada, and Latin America. Our International region primarily includes Europe, Middle East, Africa, Australia, India, Southeast Asia, and China.
Q2'23Q3'23Q4'23Q1'24Q2'24
RevenueY/Y GrowthRevenueY/Y GrowthRevenueY/Y GrowthRevenueY/Y GrowthRevenueY/Y Growth
Americas$116,191 11 %$108,107 (9)%$122,337 (1)%$122,124 — %$120,300 4 %
International71,866 (2)%86,967 3 %81,141 (1)%76,026 1 %80,697 12 %
Total revenues$188,057 6 %$195,074 (4)%$203,478 (1)%$198,150 — %$200,997 7 %

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Total ARR and Subscription ARR1
($ in thousands)

Q2'23Q3'23Q4'23Q1'24Q2'24
Total ARR1
$604,392 $640,731 $668,411 $686,028 $711,462 
Subscription ARR1
$400,480 $442,684 $477,085 $499,580 $529,590 

Income from Operations (EBIT)
•Income from operations (EBIT) was $17.6 million, an 8.8% operating margin
•Non-GAAP EBIT2 was $42.0 million, a 20.9% operating margin

GAAP and Non-GAAP Net Income2
•GAAP net income was $13.0 million, or $0.29 per diluted share
•Non-GAAP net income2 was $31.5 million, or $0.70 per diluted share

Cash Summary and Share Repurchases
•Cash flow from operations was $40.3 million in the second quarter
•As of September 30, 2023, ending cash and cash equivalents was approximately $283.3 million
•During the second quarter, Commvault repurchased $31.3 million, or approximately 442,000 shares, of common stock at an average share price of approximately $70.88 per share






















Notes are contained on the last page of this Press Release.
4


Table I
Commvault Systems, Inc.

Consolidated Statements of Operations
(In thousands, except per share data)
(Unaudited)
 Three Months Ended September 30,Six Months Ended September 30,
 2023202220232022
Revenues:
Subscription$97,757 $78,239 $195,047 $165,867 
Perpetual license14,388 19,831 27,543 37,629 
Customer support77,019 77,996 153,934 159,313 
Other services11,833 11,991 22,623 23,229 
Total revenues200,997 188,057 399,147 386,038 
Cost of revenues:
Subscription14,643 8,893 27,006 19,878 
Perpetual license642 656 1,054 1,282 
Customer support14,898 15,423 29,855 30,456 
Other services7,670 7,330 15,488 14,443 
Total cost of revenues37,853 32,302 73,403 66,059 
Gross margin163,144 155,755 325,744 319,979 
Operating expenses:
Sales and marketing84,712 81,299 168,839 166,218 
Research and development31,261 37,053 62,692 77,166 
General and administrative28,002 25,553 54,961 52,529 
Restructuring — — — 2,132 
Depreciation and amortization1,535 2,537 3,138 5,172 
Total operating expenses145,510 146,442 289,630 303,217 
Income from operations17,634 9,313 36,114 16,762 
Interest income1,369 291 2,149 552 
Interest expense(112)(105)(208)(210)
Other income (expense), net(154)154 187 (235)
Income before income taxes18,737 9,653 38,242 16,869 
Income tax expense5,720 5,135 12,596 8,840 
Net income$13,017 $4,518 $25,646 $8,029 
Net income per common share:
Basic$0.30 $0.10 $0.58 $0.18 
Diluted$0.29 $0.10 $0.57 $0.18 
Weighted average common shares outstanding:
Basic43,949 44,759 44,003 44,751 
Diluted44,903 45,540 45,010 45,745 






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Table II
Commvault Systems, Inc.

Condensed Consolidated Balance Sheets
(In thousands)
(Unaudited)
 September 30,March 31,
 20232023
ASSETS
Current assets:
Cash and cash equivalents$283,287 $287,778 
Trade accounts receivable, net196,434 210,441 
Assets held for sale38,680 38,680 
Other current assets21,560 14,015 
Total current assets539,961 550,914 
Property and equipment, net7,471 8,287 
Operating lease assets12,995 11,784 
Deferred commissions cost58,855 59,612 
Intangible assets, net1,667 2,292 
Goodwill127,780 127,780 
Other assets23,963 21,905 
Total assets$772,692 $782,574 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable$136 $108 
Accrued liabilities93,788 97,888 
Current portion of operating lease liabilities4,848 4,518 
Deferred revenue304,977 307,562 
Total current liabilities403,749 410,076 
Deferred revenue, less current portion174,061 174,393 
Deferred tax liabilities, net495 134 
Long-term operating lease liabilities9,194 8,260 
Other liabilities3,670 3,613 
Total stockholders’ equity181,523 186,098 
Total liabilities and stockholders’ equity$772,692 $782,574 







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Table III
Commvault Systems, Inc.

Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
 Three Months Ended September 30,Six Months Ended September 30,
 2023202220232022
Cash flows from operating activities
Net income$13,017 $4,518 $25,646 $8,029 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization1,564 2,878 3,196 5,855 
Noncash stock-based compensation23,615 25,327 47,339 56,422 
Noncash change in fair value of equity securities154 (155)(187)234 
Amortization of deferred commissions cost6,430 5,442 12,749 10,756 
Changes in operating assets and liabilities:
Trade accounts receivable, net(19,812)6,474 8,245 15,863 
Operating lease assets and liabilities, net(7)102 65 (181)
Other current assets and Other assets(2,439)2,249 (3,832)(461)
Deferred commissions cost(6,961)(6,365)(12,561)(13,017)
Accounts payable(146)(695)32 (213)
Accrued liabilities15,567 2,762 (3,963)(28,604)
Deferred revenue8,959 6,206 1,746 16,464 
Other liabilities396 1,101 899 1,130 
Net cash provided by operating activities40,337 49,844 79,374 72,277 
Cash flows from investing activities
Purchase of property and equipment(266)(514)(1,413)(1,381)
Purchase of equity securities(260)(778)(572)(1,793)
Net cash used in investing activities(526)(1,292)(1,985)(3,174)
Cash flows from financing activities
Repurchase of common stock(31,327)(39,864)(82,357)(58,787)
Proceeds from stock-based compensation plans5,167 6,672 6,368 7,359 
Payment of debt issuance costs— — — (63)
Net cash used in financing activities(26,160)(33,192)(75,989)(51,491)
Effects of exchange rate — changes in cash(4,953)(11,588)(5,891)(22,634)
Net increase (decrease) in cash and cash equivalents8,698 3,772 (4,491)(5,022)
Cash and cash equivalents at beginning of period274,589 258,713 287,778 267,507 
Cash and cash equivalents at end of period$283,287 $262,485 $283,287 $262,485 

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Table IV
Commvault Systems, Inc.

Reconciliation of GAAP to Non-GAAP Financial Measures
(In thousands, except per share data)
(Unaudited)
Three Months Ended September 30,Six Months Ended September 30,
2023202220232022
Non-GAAP financial measures and reconciliation:
GAAP income from operations$17,634 $9,313 $36,114 $16,762 
Noncash stock-based compensation3
23,615 25,327 47,339 55,135 
FICA and payroll tax expense related to stock-based compensation4
471 425 1,485 1,335 
Restructuring5
— — — 2,132 
Amortization of intangible assets6
312 312 626 626 
Non-GAAP income from operations$42,032 $35,377 $85,564 $75,990 
GAAP net income$13,017 $4,518 $25,646 $8,029 
Noncash stock-based compensation3
23,615 25,327 47,339 55,135 
FICA and payroll tax expense related to stock-based compensation4
471 425 1,485 1,335 
Restructuring5
— — — 2,132 
Amortization of intangible assets6
312 312 626 626 
Non-GAAP provision for income taxes adjustment7
(5,927)(4,508)(11,081)(11,706)
Non-GAAP net income$31,488 $26,074 $64,015 $55,551 
Diluted weighted average shares outstanding44,90345,54045,01045,745
Non-GAAP diluted earnings per share$0.70 $0.57 $1.42 $1.21 



Three Months Ended September 30,Six Months Ended September 30,
2023202220232022
Non-GAAP free cash flow reconciliation:
GAAP cash provided by operating activities$40,337 $49,844 $79,374 $72,277 
Purchase of property and equipment(266)(514)(1,413)(1,381)
Non-GAAP free cash flow$40,071 $49,330 $77,961 $70,896 











Notes are contained on the last page of this Press Release.
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Use of Non-GAAP Financial Measures
Commvault has provided in this press release the following non-GAAP financial measures: non-GAAP income from operations (EBIT), non-GAAP income from operations margin, non-GAAP net income, non-GAAP diluted earnings per share, non-GAAP free cash flow, annualized recurring revenue (ARR) and subscription ARR. This financial information has not been prepared in accordance with GAAP. Commvault uses these non-GAAP financial measures internally to understand, manage and evaluate its business and make operating decisions. In addition, Commvault believes these non-GAAP operating measures are useful to investors, when used as a supplement to GAAP financial measures, in evaluating Commvault’s ongoing operational performance. Commvault believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends, and in comparing its financial results with other companies in Commvault’s industry, many of which present similar non-GAAP financial measures to the investment community. Commvault has also provided its revenues on a constant currency basis. Commvault analyzes revenue growth on a constant currency basis in order to provide a comparable framework for assessing how the business performed excluding the effect of foreign currency fluctuations.

All of these non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures, which are included in this press release.

Non-GAAP income from operations and non-GAAP income from operations margin. These non-GAAP financial measures exclude noncash stock-based compensation charges and additional Federal Insurance Contribution Act (FICA) and related payroll tax expense incurred by Commvault when employees exercise in the money stock options or vest in restricted stock awards. Commvault has also excluded restructuring costs and noncash amortization of intangible assets from its non-GAAP results. These expenses are further discussed in Table IV. Commvault believes that these non-GAAP financial measures are useful metrics for management and investors because they compare Commvault’s core operating results over multiple periods. When evaluating the performance of Commvault’s operating results and developing short- and long-term plans, Commvault does not consider such expenses.

Although noncash stock-based compensation and the additional FICA and related payroll tax expenses are necessary to attract and retain employees, Commvault places its primary emphasis on stockholder dilution as compared to the accounting charges related to such equity compensation plans. Commvault believes that providing non-GAAP financial measures that exclude noncash stock-based compensation expense and the additional FICA and related payroll tax expenses incurred on stock option exercises and vesting of restricted stock awards allow investors to make meaningful comparisons between Commvault’s operating results and those of other companies.

There are a number of limitations related to the use of non-GAAP income from operations and non-GAAP income from operations margin. The most significant limitation is that these non-GAAP financial measures exclude certain operating costs, primarily related to noncash stock-based compensation, which is of a recurring nature. Noncash
9


stock-based compensation has been, and will continue to be for the foreseeable future, a significant recurring expense in Commvault’s operating results. In addition, noncash stock-based compensation is an important part of Commvault’s employees’ compensation and can have a significant impact on their performance. The following table presents the stock-based compensation expense included in cost of revenues, sales and marketing, research and development and general and administrative ($ in thousands):

 
Three Months Ended September 30,Six Months Ended September 30,
2023202220232022
Cost of revenues$1,599 $1,226 $3,289 $2,469 
Sales and marketing9,941 10,165 19,645 21,558 
Research and development5,385 7,793 10,732 17,034 
General and administrative6,690 6,143 13,673 14,074 
Stock-based compensation expense
$23,615 $25,327 $47,339 $55,135 

The components that Commvault excludes in its non-GAAP financial measures may differ from the components that its peer companies exclude when they report their non-GAAP financial measures. Due to the limitations related to the use of non-GAAP measures, Commvault’s management assists investors by providing a reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure. Commvault's management uses non-GAAP financial measures only in addition to, and in conjunction with, results presented in accordance with GAAP.

Non-GAAP net income and non-GAAP diluted earnings per share (EPS). In addition to the adjustments discussed in non-GAAP income from operations, non-GAAP net income and non-GAAP diluted EPS incorporates a non-GAAP effective tax rate of 27%.

Commvault anticipates that in any given period its non-GAAP tax rate may be either higher or lower than the GAAP tax rate as evidenced by historical fluctuations. The GAAP tax rates in recent fiscal years were not meaningful percentages due to the dollar amount of GAAP pre-tax income. For the same reason as the GAAP tax rates, the estimated cash tax rates in recent fiscal years are not meaningful percentages. Commvault defines its cash tax rate as the total amount of cash income taxes payable for the fiscal year divided by consolidated GAAP pre-tax income. Over time, Commvault believes its GAAP and cash tax rates will align.

Commvault considers non-GAAP net income and non-GAAP diluted EPS useful metrics for Commvault management and its investors for the same basic reasons that Commvault uses non-GAAP income from operations and non-GAAP income from operations margin. In addition, the same limitations as well as management actions to compensate for such limitations described above also apply to Commvault’s use of non-GAAP net income and non-GAAP diluted EPS.

Non-GAAP free cash flow. Commvault defines this non-GAAP financial measure as net cash provided by operating activities less purchases of property and equipment. Commvault considers non-GAAP free cash flow a useful metric for Commvault management and its investors in evaluating Commvault's ability to generate cash from its business operations. In addition, the same limitations as well as management actions to compensate for such limitations described above also apply to Commvault’s use of non-GAAP free cash flow.

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Notes
1.Annualized Recurring Revenue (ARR) is defined as the annualized recurring value of all active contracts at the end of a reporting period. It includes the following contract types: subscription (including term licenses, SaaS and utility software), maintenance contracts related to perpetual licenses, other extended maintenance contracts (enterprise support), and managed services. It excludes any element of the arrangement that is not expected to recur, primarily perpetual licenses and most professional services. Subscription ARR includes only term licenses, SaaS and utility software arrangements. Contracts are annualized by dividing the total contract value by the number of days in the contract term, then multiplying by 365.
ARR should be viewed independently of GAAP revenue, deferred revenue and unbilled revenue and is not intended to be combined with or to replace those items. ARR is not a forecast of future revenue. Management believes that reviewing this metric, in addition to GAAP results, helps investors and financial analysts understand the value of Commvault's recurring revenue streams versus prior periods.

2.A reconciliation of GAAP to non-GAAP results has been provided in Financial Statement Table IV included in this press release. An explanation of these measures is also included under the heading “Use of Non-GAAP Financial Measures.”

3.Represents noncash stock-based compensation charges associated with restricted stock units granted and our Employee Stock Purchase Plan, exclusive of stock-based compensation expense related to Commvault's restructuring activities described below in note 5.

4.Represents additional FICA and related payroll tax expenses incurred by Commvault when employees exercise in-the-money stock options or vest in restricted stock awards.

5.These restructuring charges relate primarily to severance and related costs associated with headcount reductions and stock-based compensation related to modifications of existing unvested awards granted to certain employees impacted by the restructuring plan.

6.Represents noncash amortization of intangible assets.

7.The provision for income taxes is adjusted to reflect Commvault’s estimated non-GAAP effective tax rate of 27%.
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v3.23.3
Cover Page
Oct. 31, 2023
Cover [Abstract]  
Document Type 8-K
Document Period End Date Oct. 31, 2023
Entity Registrant Name COMMVAULT SYSTEMS, INC.
Entity Incorporation, State or Country Code DE
Entity File Number 1-33026
Entity Tax Identification Number 22-3447504
Entity Address, Address Line One 1 Commvault Way
Entity Address, City or Town Tinton Falls
Entity Address, State or Province NJ
Entity Address, Postal Zip Code 07724
City Area Code 732
Local Phone Number 870-4000
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock
Trading Symbol CVLT
Security Exchange Name NASDAQ
Entity Emerging Growth Company false
Entity Central Index Key 0001169561
Amendment Flag false
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