Commvault Systems (CVLT) 10-Q 27 Oct 17 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 30, 2017	Oct. 23, 2017
Document And Entity Information [Abstract]
Trading Symbol	CVLT
Entity Registrant Name	COMMVAULT SYSTEMS INC
Entity Central Index Key	1,169,561
Current Fiscal Year End Date	--03-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		46,185,364

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Current assets:
Cash and cash equivalents	$ 363,331	$ 329,491
Short-term investments	131,258	120,693
Trade accounts receivable	129,699	140,084
Other current assets	28,943	15,791
Total current assets	653,231	606,059
Deferred tax assets, net	52,868	50,228
Property and equipment, net	129,712	132,319
Equity method investment	3,498	3,621
Deferred commissions cost	30,455	30,378
Other assets	8,181	7,273
Total assets	877,945	829,878
Current liabilities:
Accounts payable	182	117
Accrued liabilities	63,155	78,701
Deferred revenue	216,757	209,099
Total current liabilities	280,094	287,917
Deferred revenue, less current portion	78,922	70,803
Other liabilities	3,646	4,226
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value: 50,000 shares authorized, no shares issued and outstanding at September 30, 2017 and March 31, 2017	0	0
Common stock, $0.01 par value: 250,000 shares authorized, 45,695 shares and 44,816 shares issued and outstanding at September 30, 2017 and March 31, 2017, respectively	456	447
Additional paid-in capital	749,544	694,477
Accumulated deficit	(227,022)	(215,677)
Accumulated other comprehensive loss	(7,695)	(12,315)
Total stockholders’ equity	515,283	466,932
Total liabilities and stockholders’ equity	$ 877,945	$ 829,878

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2017	Mar. 31, 2017
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	45,695,000	44,816,000
Common stock, shares outstanding (in shares)	45,695,000	44,816,000

Consolidated Statements of Loss

Consolidated Statements of Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues:
Software	$ 72,020	$ 70,405	$ 146,781	$ 133,818
Services	96,120	89,033	187,331	177,394
Total revenues	168,140	159,438	334,112	311,212
Cost of revenues:
Software	1,086	773	1,891	1,534
Services	22,181	20,884	43,037	41,118
Total cost of revenues	23,267	21,657	44,928	42,652
Gross margin	144,873	137,781	289,184	268,560
Operating expenses:
Sales and marketing	100,595	94,195	200,504	186,926
Research and development	22,925	20,221	45,470	39,449
General and administrative	23,620	21,314	47,471	41,252
Depreciation and amortization	2,388	2,109	4,755	4,219
Total operating expenses	149,528	137,839	298,200	271,846
Loss from operations	(4,655)	(58)	(9,016)	(3,286)
Interest expense	(234)	(245)	(466)	(491)
Interest income	539	276	972	531
Equity in loss of affiliate	(162)	(158)	(123)	(244)
Loss before income taxes	(4,512)	(185)	(8,633)	(3,490)
Income tax benefit	(3,502)	(131)	(7,339)	(826)
Net loss	$ (1,010)	$ (54)	$ (1,294)	$ (2,664)
Net loss per common share:
Basic (in dollars per share)	$ (0.02)	$ 0	$ (0.03)	$ (0.06)
Diluted (in dollars per share)	$ (0.02)	$ 0	$ (0.03)	$ (0.06)
Weighted average common shares outstanding:
Basic (in shares)	45,598	44,589	45,364	44,417
Diluted (in shares)	45,598	44,589	45,364	44,417

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Net loss	$ (1,010)	$ (54)	$ (1,294)	$ (2,664)
Other comprehensive income (loss):
Foreign currency translation adjustment	1,569	(443)	4,620	(1,519)
Comprehensive income (loss)	$ 559	$ (497)	$ 3,326	$ (4,183)

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid – In Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative Effect of Adoption of ASU 2016-09 | Accounting Standards Update 2016-09	$ 164		$ 435	$ (271)
Beginning balance (in shares) at Mar. 31, 2017		44,816
Beginning balance at Mar. 31, 2017	466,932	$ 447	694,477	(215,677)	$ (12,315)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	39,385		39,385
Share issuances related to stock-based compensation (in shares)		1,071
Share issuances related to stock-based compensation	16,735	$ 11	16,724
Repurchase of common stock (in shares)		(192)
Repurchase of common stock	(11,259)	$ (2)	(1,477)	(9,780)
Net loss	(1,294)			(1,294)
Net loss | Accounting Standards Update 2016-09	3,781
Other comprehensive income	4,620				4,620
Ending balance (in shares) at Sep. 30, 2017		45,695
Ending balance at Sep. 30, 2017	$ 515,283	$ 456	$ 749,544	$ (227,022)	$ (7,695)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities
Net loss	$ (1,294)	$ (2,664)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	5,567	5,004
Noncash stock-based compensation	39,385	36,043
Excess tax benefits from stock-based compensation	0	(1,201)
Deferred income taxes	(2,789)	(6,844)
Equity in loss of affiliate	123	244
Amortization of deferred commissions cost	8,339	7,688
Changes in operating assets and liabilities:
Trade accounts receivable	12,439	8,251
Other current assets and Other assets	(12,778)	(3,453)
Deferred commissions cost	(7,514)	(7,582)
Accounts payable	60	(202)
Accrued liabilities	(19,109)	756
Deferred revenue	7,413	8,063
Other liabilities	(224)	183
Net cash provided by operating activities	29,618	44,286
Cash flows from investing activities
Purchase of short-term investments	(77,174)	(66,609)
Proceeds from maturity of short-term investments	66,609	47,849
Purchase of property and equipment	(2,634)	(2,080)
Net cash used in investing activities	(13,199)	(20,840)
Cash flows from financing activities
Repurchase of common stock	(11,259)	0
Proceeds from stock-based compensation plans	16,735	11,453
Excess tax benefits from stock-based compensation (see Note 2)	0	1,201
Net cash provided by (used in) financing activities	5,476	12,654
Effects of exchange rate — changes in cash	11,945	(2,413)
Net increase in cash and cash equivalents	33,840	33,687
Cash and cash equivalents at beginning of period	329,491	288,107
Cash and cash equivalents at end of period	$ 363,331	$ 321,794

Basis of Presentation

Basis of Presentation	6 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Commvault Systems, Inc. and its subsidiaries (“Commvault” or the “Company”) is a provider of data and information management software applications and related services. The Company develops, markets and sells a suite of software applications and services, primarily in North America, Europe, Australia and Asia, that provides its customers with data protection solutions supporting all major operating systems, applications, and databases on virtual and physical servers, NAS shares, cloud-based infrastructures, and mobile devices; management through a single console; multiple protection methods including backup and archive, snapshot management, replication, and content indexing for eDiscovery; efficient storage management using deduplication for disk, tape and cloud; integration with the industry's top storage arrays; complete virtual infrastructure management supporting multiple hypervisors; security capabilities to limit access to critical data; policy based data management; and an end-user experience that allows them to protect, find and recover their own data using common tools such as web browsers, Microsoft Outlook and File Explorer. The Company also provides its customers with a broad range of professional and customer support services. The consolidated financial statements as of September 30, 2017 and for the three and six months ended September 30, 2017 and 2016 are unaudited, and in the opinion of management, include all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of the results for the interim periods. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles (“U.S. GAAP”) for complete financial statements and should be read in conjunction with the financial statements and notes in the Company’s Annual Report on Form 10-K for fiscal 2017 . The results reported in these financial statements should not necessarily be taken as indicative of results that may be expected for the entire fiscal year. The Company has early adopted the new revenue standard as of April 1, 2017 using the full retrospective method which required each prior reporting period presented to be adjusted beginning with this issuance of the Company’s financial statements. The preparation of financial statements and related disclosures in conformity with U.S. GAAP requires management to make judgments and estimates that affect the amounts reported in the Company’s consolidated financial statements and the accompanying notes. The Company bases its estimates and judgments on historical experience and on various other assumptions that it believes are reasonable under the circumstances. The amounts of assets and liabilities reported in the Company’s balance sheets and the amounts of revenues and expenses reported for each of its periods presented are affected by estimates and assumptions, which are used for, but not limited to, the accounting for revenue recognition, income taxes and related reserves, stock-based compensation and accounting for research and development costs. Actual results could differ from those estimates.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies During fiscal 2018 the Company adopted new accounting guidance related to revenue recognition and accounting for share-based compensation which is described below. There have been no other significant changes in the Company’s accounting policies during the six months ended September 30, 2017 as compared to the significant accounting policies described in its Annual Report on Form 10-K for the year ended March 31, 2017 . Recently Issued Accounting Standards Revenue Recognition In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") No. 2014-09, "Revenue from Contracts with Customers (Topic 606)." This standard replaced existing revenue recognition rules with a comprehensive revenue measurement and recognition standard and expanded disclosure requirements. The ASU also includes guidance regarding the accounting for contract acquisition costs, which includes sales commissions. The Company has early adopted the new standard as of April 1, 2017 using the full retrospective method which required each prior reporting period presented to be adjusted beginning with this issuance of the Company’s financial statements. The most significant impact of adopting the new standard related to the deferral of commission costs. A portion of sales commissions cost is now recorded as an asset and recognized as an operating expense over the time period that the Company expects to recover the costs. Select adjusted unaudited financial statement information, which reflect the adoption of Topic 606 is below. The Company’s historical net cash flows are not impacted by this accounting change. Three Months Ended September 30, 2016 Unaudited As Reported Adjustments Adjusted for Adoption of ASC 606 Revenues: Software $ 70,457 $ (52 ) $ 70,405 Services 88,876 157 89,033 Total revenues 159,333 105 159,438 Total cost of revenues 21,657 — 21,657 Gross margin 137,676 105 137,781 Total operating expenses 138,433 (594 ) 137,839 Income (loss) from operations (757 ) 699 (58 ) Interest expense (245 ) — (245 ) Interest income 276 — 276 Equity in loss of affiliate (158 ) — (158 ) Income (loss) before income taxes (884 ) 699 (185 ) Income tax expense (benefit) (322 ) 191 (131 ) Net income (loss) $ (562 ) $ 508 $ (54 ) Six Months Ended September 30, 2016 Unaudited As Reported Adjustments Adjusted for Adoption of ASC 606 Revenues: Software $ 134,394 $ (576 ) $ 133,818 Services 177,352 42 177,394 Total revenues 311,746 (534 ) 311,212 Total cost of revenues 42,652 — 42,652 Gross margin 269,094 (534 ) 268,560 Total operating expenses 272,399 (553 ) 271,846 Income (loss) from operations (3,305 ) 19 (3,286 ) Interest expense (491 ) — (491 ) Interest income 531 — 531 Equity in loss of affiliate (244 ) — (244 ) Income (loss) before income taxes (3,509 ) 19 (3,490 ) Income tax expense (benefit) (903 ) 77 (826 ) Net income (loss) $ (2,606 ) $ (58 ) $ (2,664 ) March 31, 2017 Unaudited Balance Sheet Data As Reported Adjustments Adjusted for Adoption of ASC 606 Current assets: Trade accounts receivable $ 132,761 $ 7,323 $ 140,084 Total current assets $ 598,736 $ 7,323 $ 606,059 Deferred tax assets, net $ 61,018 $ (10,790 ) $ 50,228 Deferred commissions $ — $ 30,378 $ 30,378 Total assets $ 802,967 $ 26,911 $ 829,878 Current Liabilities: Deferred revenue $ 206,777 $ 2,322 $ 209,099 Total current liabilities $ 285,595 $ 2,322 $ 287,917 Other liabilities $ 3,934 $ 292 $ 4,226 Accumulated deficit $ (239,974 ) $ 24,297 $ (215,677 ) Total stockholders’ equity $ 442,635 $ 24,297 $ 466,932 Total liabilities and stockholders’ equity $ 802,967 $ 26,911 $ 829,878 Share-Based Compensation In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting (Topic 718), which simplifies the accounting for share-based payment transactions, including related accounting for income taxes, forfeitures, and classification in the statement of cash flows. The Company adopted the guidance prospectively effective April 1, 2017. The guidance requires excess tax benefits and tax deficiencies to be recorded as income tax benefit or expense in the statement of income when the awards vest or are settled, and eliminates the requirement to reclassify cash flows related to excess tax benefits from operating activities to financing activities on the statement of cash flows. In the six months ended September 30, 2017, the Company recognized $3,781 of such excess tax benefits, and, pursuant to the adopted guidance, net loss decreased by $3,781 , or $0.08 per basic and diluted share. Amounts previously recorded to Additional paid-in capital related to excess tax benefits prior to April 1, 2017 remain in Stockholders' equity. Cash flows related to excess taxes prior to April 1, 2017 remain classified as financing cash flows. In addition, the standard allows the Company to repurchase more of an employee’s vesting shares for tax withholding purposes without triggering liability accounting, and provides an accounting policy election to account for forfeitures as they occur. The Company has elected to account for forfeitures as they occur. The cumulative impact of the election to account for forfeitures as they are incurred is included as an adjustment to accumulated deficit. Leases In February 2016, the FASB issued ASU 2016-02 “Leases (Topic 842)” (“ASU 2016-02”). Under ASU 2016-02, a lessee will recognize in the balance sheet a liability to make lease payments (the lease liability) and a right-to-use asset representing its right to use the underlying asset for the lease term. The amendments of this ASU are effective for the Company's fiscal 2020, with early adoption permitted. A company will be required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The Company is currently assessing the impact the adoption of ASU 2016-02 will have on the financial statements. Trade and Other Receivables Trade and other receivables are primarily comprised of trade receivables that are recorded at the invoice amount, net of an allowance for doubtful accounts, which is not material. Unbilled receivables represent amounts for which revenue has been recognized but which have not yet been invoiced to the customer. The current portion of unbilled receivables is included in Trade accounts receivable on the consolidated balance sheet. Long term unbilled receivables are included in Other assets. Sales Tax The Company records revenue net of sales tax. Shipping and Handling Costs Shipping and handling costs are included in cost of revenues for all periods presented Deferred Commissions Cost Sales commissions and related payroll taxes earned by the Company's employees are considered incremental and recoverable costs of obtaining a contract with a customer. The Company’s typical contracts include performance obligations related to software licenses, software updates, customer support and other professional services. In these contracts, incremental costs of obtaining a contract are allocated to the performance obligations based on the relative estimated standalone selling prices and then recognized on a systematic basis that is consistent with the transfer of the goods or services to which the asset relates. The Company does not pay commissions on annual renewals of contracts for software updates and customer support for perpetual licenses. The costs allocated to software are expensed at the time of sale, when revenue for the functional software license is recognized. The costs allocated to software updates and customer support for perpetual licenses are amortized ratably over a period of approximately five years, the expected period of benefit of the asset capitalized. The Company currently estimates a period of five years is appropriate based on consideration of historical average customer life and the estimated useful life of the underlying software sold as part of the transaction. The costs related to professional services are amortized within one quarter following the date of the related software sale, which is typically the period the related professional services are provided and revenue is recognized. Amortization expense related to these costs is included in Sales and marketing expenses in the accompanying condensed consolidated statements of loss. Costs related to software updates and support for term-based, or subscription software licenses, are limited to the contractual period of the arrangement as the Company intends to pay a commensurate commission upon renewal of the subscription license and related updates and support. Deferred Revenue Deferred revenues represent amounts collected from, or invoiced to, customers in excess of revenues recognized. This results primarily from the billing of annual customer support agreements, and billings for other professional services fees that have not yet been performed by the Company. The value of deferred revenues will increase or decrease based on the timing of invoices and recognition of revenue. Related Party Transactions During the first quarter of fiscal 2018, one of our Directors, Joseph F. Eazor, was hired as the CEO of Rackspace, Inc ("Rackspace"). Prior to his appointment as CEO, the Company completed the sale of $4,212 of software and related services to Rackspace. Total recognized revenue related to Rackspace in the first six months of fiscal 2018 was $4,539 . The outstanding accounts receivable from this customer as of September 30, 2017 is $2,759 . Concentration of Credit Risk The Company grants credit to customers in a wide variety of industries worldwide and generally does not require collateral. Credit losses relating to these customers have been minimal. Sales through the Company’s distribution agreement with Arrow Enterprise Computing Solutions, Inc. (“Arrow”) totaled approximately 36% and 35% of total revenues for the six months ended September 30, 2017 and 2016 , respectively. Arrow accounted for approximately 37% of total accounts receivable as of September 30, 2017 and 40% of total accounts receivable as of March 31, 2017 . Fair Value of Financial Instruments The carrying amounts of the Company’s cash and cash equivalents, accounts receivable and accounts payable approximate their fair values due to the short-term maturity of these instruments. The Company’s cash equivalents balance consists primarily of money market funds. The Company’s short-term investments balance consists of U.S. Treasury Bills with maturities of one year or less. The Company accounts for its short-term investments as held to maturity. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for such asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value should maximize the use of observable inputs and minimize the use of unobservable inputs. To measure fair value, the Company uses the following fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable: Level 1 – Quoted prices in active markets for identical assets or liabilities. Level 2 – Inputs other than Level 1 that are observable for the asset or liability, either directly or indirectly, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data by correlation or other means. Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The following table summarizes the composition of the Company’s financial assets measured at fair value at September 30, 2017 and March 31, 2017 : September 30, 2017 Level 1 Level 2 Level 3 Total Cash equivalents $ 89,944 — — $ 89,944 Short-term investments $ — 131,719 — $ 131,719 March 31, 2017 Level 1 Level 2 Level 3 Total Cash equivalents $ 70,190 — — $ 70,190 Short-term investments $ — 120,989 — $ 120,989

Revenue

Revenue	6 Months Ended
	Sep. 30, 2017
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The Company accounts for revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers, which was adopted on April 1, 2017, using the full retrospective method. The Company derives revenues from two primary sources: software licenses and services. Services include customer support (software updates and technical support), consulting, assessment and design services, installation services and customer education. A typical contract includes both licenses and services. The Company’s software licenses typically provide for a perpetual right to use the Company’s software. The Company also sells term-based software licenses that expire, which are referred to as subscription arrangements. The Company does not customize its software and installation services are not required. The software is delivered before related services are provided and is functional without professional services, updates and technical support. The Company has concluded that its software license is functional intellectual property that is distinct as the user can benefit from the software on its own. Software revenue is typically recognized when the software is delivered and/or made available for download as this is the point the user of the software can direct the use of, and obtain substantially all of the remaining benefits from the functional intellectual property. The Company does not recognize software revenue related to the renewal of subscription software licenses earlier than the beginning of the subscription period. Services revenue includes revenue from customer support and other professional services. Customer support includes software updates on a when-and-if-available basis, telephone support, integrated web-based support and bug fixes or patches. The Company sells its customer support contracts as a percentage of net software purchases the support is related to. Customer support revenue is recognized ratably over the term of the customer support agreement, which is typically one year. The Company’s other professional services include consulting, assessment and design services, installation services and customer education. Customer education services include courses taught by the Company’s instructors or third-party contractors. Revenue related to other professional services and customer education services is typically recognized as the services are performed. Most of the Company’s contracts with customers contain multiple performance obligations. For these contracts, the Company accounts for individual performance obligations separately if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. Standalone selling prices of software are typically estimated using the residual approach. Standalone selling prices of services are typically estimated based on observable transactions when these services are sold on a standalone basis. The Company’s typical performance obligations include the following: Performance Obligation When Performance Obligation is Typically Satisfied When Payment is Typically Due How Standalone Selling Price is Typically Estimated Software Revenue Software Licenses Upon shipment or made available for download (point in time) Within 90 days of shipment except for certain subscription licenses which are paid for over time Residual approach Customer Support Revenue Software Updates Ratably over the course of the support contract (over time) At the beginning of the contract period Observable in renewal transactions Customer Support Ratably over the course of the support contract (over time) At the beginning of the contract period Observable in renewal transactions Professional Services Other Professional Services (except for education services) As work is performed (over time) Within 90 days of services being performed Observable in transactions without multiple performance obligations Education Services When the class is taught (point in time) Within 90 days of services being performed Observable in transactions without multiple performance obligations Disaggregation of Revenue The Company disaggregates revenue from contracts with customers into the nature of the products and services and geographical regions. The geographic regions that are tracked are the Americas (United States, Canada, Latin America), EMEA (Europe, Middle East, Africa) and APAC (Australia, New Zealand, Southeast Asia, China). The Company operates in one segment. Three Months Ended September 30, 2017 Americas EMEA APAC Total Software Revenue $ 40,704 $ 21,049 $ 10,267 $ 72,020 Customer Support Revenue 58,205 18,625 8,947 85,777 Professional Services 5,965 2,759 1,619 10,343 Total Revenue $ 104,874 $ 42,433 $ 20,833 $ 168,140 Three Months Ended September 30, 2016 Americas EMEA APAC Total Software Revenue $ 43,922 $ 17,153 $ 9,330 $ 70,405 Customer Support Revenue 53,882 16,436 8,120 78,438 Professional Services 6,360 2,753 1,482 10,595 Total Revenue $ 104,164 $ 36,342 $ 18,932 $ 159,438 Six Months Ended September 30, 2017 Americas EMEA APAC Total Software Revenue $ 80,715 $ 44,821 $ 21,245 $ 146,781 Customer Support Revenue 114,394 35,736 17,537 167,667 Professional Services 10,826 5,304 3,534 19,664 Total Revenue $ 205,935 $ 85,861 $ 42,316 $ 334,112 Six Months Ended September 30, 2016 Americas EMEA APAC Total Software Revenue $ 79,723 $ 34,786 $ 19,309 $ 133,818 Customer Support Revenue 107,485 33,062 16,158 156,705 Professional Services 12,385 5,569 2,735 20,689 Total Revenue $ 199,593 $ 73,417 $ 38,202 $ 311,212 Information about Contract Balances Amounts collected in advance of services being provided are accounted for as deferred revenue. Nearly all of the Company's deferred revenue balance is related to services revenue, primarily customer support contracts. In some arrangements the Company allows customers to pay for term based software licenses over the term of the software license. The Company refers to these as subscription transactions. Amounts recognized as revenue in excess of amounts billed are recorded as unbilled receivables. Unbilled receivables which are anticipated to be invoiced in the next twelve months are included in Accounts receivable on the consolidated balance sheet. Long term unbilled receivables are included in Other assets. The opening and closing balances of the Company’s accounts receivable, unbilled receivables, and deferred revenues are as follows: Accounts Receivable Unbilled Receivable (current) Unbilled Receivable (long-term) Deferred Revenue (current) Deferred Revenue (long-term) Opening Balance as of March 31, 2017 $ 132,711 $ 7,373 $ — $ 209,099 $ 70,803 Increase/(decrease), net (8,516 ) (1,869 ) 754 7,658 8,119 Ending Balance as of September 30, 2017 $ 124,195 $ 5,504 $ 754 $ 216,757 $ 78,922 The decrease in accounts receivable is primarily a result of the decline in software revenue relative to the fourth quarter of the prior year as well as customer support renewals which are more concentrated in the Company's fiscal fourth quarter. The increase in deferred revenue is primarily the result of an increase in deferred customer support revenue related to software revenue transactions and customer support renewals during the first and second quarters of fiscal 2018, most of which will be recognized over the course of the next twelve months. The amount of revenue recognized in the period that was included in the opening deferred revenue balance was $82,664 and $161,596 for the three and six months ended September 30, 2017 , respectively. The vast majority of this revenue consists of customer support arrangements. The amount of revenue recognized from performance obligations satisfied in prior periods was not material. Remaining Performance Obligations In addition to the amounts included in deferred revenue as of September 30, 2017 , approximately $16,493 of revenue may be recognized from remaining performance obligations, of which $245 was related to software. The Company expects the software to be recognized next quarter. The majority of the services revenue is related to other professional services which may be recognized over the next twelve months but is contingent upon a number of factors, including customers’ needs and schedules.

Property and Equipment

Property and Equipment	6 Months Ended
	Sep. 30, 2017
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment consist of the following: September 30, March 31, 2017 2017 Land $ 9,445 $ 9,445 Buildings 103,244 103,244 Computers, servers and other equipment 36,695 35,274 Furniture and fixtures 15,468 14,912 Leasehold improvements 9,084 7,040 Purchased software 1,396 1,335 Construction in process 76 1,147 175,408 172,397 Less: Accumulated depreciation and amortization (45,696 ) (40,078 ) $ 129,712 $ 132,319 The Company recorded depreciation and amortization expense of $5,441 and $4,878 for the six months ended September 30, 2017 and 2016 , respectively.

Net Income per Common Share

Net Income per Common Share	6 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Net Income per Common Share	Net Income per Common Share Basic net income per common share is computed by dividing net income by the weighted average number of common shares during the period. Diluted net income per share is computed using the weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options, vesting of restricted stock units and shares to be purchased under the Employee Stock Purchase Plan. The dilutive effect of such potential common shares is reflected in diluted earnings per share by application of the treasury stock method. The diluted weighted average shares outstanding exclude outstanding stock options, restricted stock units, performance stock options, performance restricted stock units and shares to be purchased under the employee stock purchase plan totaling approximately 7,433 and 8,381 for the three months ended September 30, 2017 and 2016 and 7,557 and 8,374 for the six months ended September 30, 2017 and 2016 , respectively, because the effect would have been anti-dilutive.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In the normal course of its business, the Company may be involved in various claims, negotiations and legal actions. As of September 30, 2017 , the Company is not aware of any asserted or unasserted claims, negotiations and legal actions for which a loss is considered reasonably possible of occurring and would require disclosure under the guidance. On September 10, 2014, a purported class action complaint was filed in the United States District Court for the District of New Jersey against the Company, its Chief Executive Officer and its Chief Financial Officer. The case is captioned In re Commvault Systems, Inc. Securities Litigation (Master File No. 3:14-cv-05628-MAS-LHG). The suit alleges that the Company made materially false and misleading statements, or failed to disclose material facts, regarding the Company's financial results, business, operations and prospects in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The suit is purportedly brought on behalf of purchasers of the Company's common stock during the period from May 7, 2013 through April 24, 2014, and seeks compensatory damages, costs and expenses, as well as equitable or other relief. Lead plaintiff, the Arkansas Teachers Retirement System, was appointed on January 12, 2015, and on March 18, 2015, an amended complaint was filed by the plaintiffs. On December 17, 2015, the defendant’s motion to dismiss the case was granted and the case dismissed; however, the plaintiffs were permitted to re-file their claim, which they did on February 5, 2016. Defendants filed another motion to dismiss on April 5, 2016, which was denied by the court on September 30, 2016. Thereafter, discovery commenced. On October 2, 2017, the parties entered into an agreement in principle to settle the action for $12,500 . The Company has not recorded an accrual for this matter as the settlement amount is to be funded solely by the Company’s insurers. The settlement is subject to final documentation and court approval. There can be no assurance that the settlement will ultimately be approved or that it will become final. If the settlement does not occur and litigation against the Company continues, the Company believes that it has meritorious defenses and intends to defend the case vigorously. However, due to the inherent uncertainties of litigation, the Company cannot accurately predict the ultimate outcome of this matter if the litigation continues. On April 12, 2017, a shareholder derivative complaint was filed in the United States District Court for the District of New Jersey against the Company (nominally), certain of its executive officers and certain members of the board of directors. The complaint is entitled Murashko v. Hammer, et al. (Civ. No. 3:17-cv-02533-PGS-TJB). The plaintiff filed an amended complaint on July 14, 2017. The amended complaint largely repeats the allegations made in the securities litigation also pending in the United States District Court for the District of New Jersey (In re Commvault Systems, Inc. Securities Litigation (Master File No. 3:14-cv-05628-PGS-LHG), claiming that the defendant officers and directors breached their fiduciary duties to the Company by causing, or allowing, the Company to manipulate its financial results and conceal the state of its business prospects. The suit also alleges that certain executive officers engaged in unlawful insider trading in 2013 and/or 2014 based on their knowledge of the information that was supposedly concealed. The allegations asserted in the shareholder derivative action purport to cover a period from 2013 through the present. As a derivative action, the complaint does not seek damages from the Company, but rather seeks to recover from the defendant officers and directors on behalf of the Company compensatory damages, restitution, costs and expenses, as well as equitable or other relief. On August 29, 2017, all of the defendants, including the Company, filed a motion to dismiss the derivative action, and a hearing has been scheduled on this motion in December. Due to the inherent uncertainties of litigation, the Company cannot accurately predict the ultimate outcome of this matter. The Company is unable at this time to determine whether the outcome of the litigation will have a material impact. As of September 30, 2017, the Company has not recorded an accrual for this matter as it has concluded the probability of a loss is remote. On February 27, 2017, Realtime Data LLC d/b/a/ IXO (“Realtime”), a non-practicing entity, sued the Company and Spectra Logic Corporation in the Eastern District of Texas for alleged infringement of four patents: U.S. Patent Nos. 9,054,728, 7,415,530, 9,116,908, and 8,717,204. Realtime dismissed the case in Texas and refiled this case in the District of Delaware on July 10, 2017. Realtime has sued numerous other companies for infringement of these and other patents. Realtime seeks monetary damages and an injunction. The Company responded to the complaint by filing a motion to dismiss on the grounds that the patents are directed to patent-ineligible subject matter. The Court has not yet ruled on this motion. Due to the inherent uncertainties of litigation, the Company cannot accurately predict the ultimate outcome of this matter. The Company is unable at this time to determine whether the outcome of the litigation will have a material impact on its results of operations, financial condition or cash flows. The Company intends to defend itself vigorously. As of September 30, 2017 , the Company has not recorded an accrual for this matter as it has concluded the probability of a loss is remote.

Revolving Credit Facility

Revolving Credit Facility	6 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Revolving Credit Facility	Revolving Credit Facility On June 30, 2014, the Company entered into a five -year $250,000 revolving credit facility (the “Credit Facility”). The Credit Facility is available for share repurchases, general corporate purposes, and letters of credit. The Credit Facility contains financial maintenance covenants including a leverage ratio and interest coverage ratio. The Credit Facility also contains certain customary events of default which would permit the lenders to, among other things, declare all loans then outstanding to be immediately due and payable if such default is not cured within applicable grace periods. The Credit Facility also limits the Company's ability to incur certain additional indebtedness, create or permit liens on assets, make acquisitions, make investments, loans or advances, sell or transfer assets, pay dividends or distributions, and engage in certain transactions with foreign affiliates. Outstanding borrowings under the Credit Facility accrue interest at an annual rate equal to London Interbank Offered Rate plus 1.50% subject to increases based on the Company's actual leverage. The unused balance on the Credit Facility is also subject to a 0.25% annual interest charge subject to increases based on the Company's actual leverage. As of September 30, 2017 , there were no borrowings under the Credit Facility and the Company was in compliance with all covenants. The Company has deferred the expense related to debt issuance costs, which are classified as Other assets, and will amortize the costs into Interest expense over the term of the Credit Facility. Unamortized amounts at September 30, 2017 were $442 . The amortization of debt issuance costs was $63 and $126 in the three and six months ended September 30, 2017 and 2016 .

Capitalization

Capitalization	6 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Capitalization	Capitalization During the three and six months ended September 30, 2017 , the company repurchased $11,259 of common stock ( 192 shares). As of September 30, 2017 , $113,740 remained in the stock repurchase authorization that expires on March 31, 2018.

Stock Plans

Stock Plans	6 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Plans	Stock Plans On August 24, 2017, the Company’s shareholders approved an amendment to the Omnibus Incentive Plan (the “2016 Incentive Plan”) to increase the maximum number of shares of common stock that may be delivered under plan to 3,550 . The 2016 Incentive Plan authorizes a broad range of awards including stock options, stock appreciation rights, full value awards (including restricted stock, restricted stock units, performance shares or units and other stock-based awards) and cash-based awards. The following table presents the stock-based compensation expense included in Cost of services revenue, Sales and marketing, Research and development and General and administrative expenses for the three and six months ended September 30, 2017 and 2016 . Stock-based compensation is attributable to stock options, restricted stock units, performance based awards and the employee stock purchase plan. Three Months Ended September 30, Six Months Ended September 30, 2017 2016 2017 2016 Cost of services revenue $ 751 $ 964 $ 1,502 $ 1,835 Sales and marketing 8,984 8,290 18,424 15,961 Research and development 2,070 1,770 4,140 3,448 General and administrative 8,016 7,679 15,319 14,799 Stock-based compensation expense $ 19,821 $ 18,703 $ 39,385 $ 36,043 As of September 30, 2017 , there was approximately $86,000 of unrecognized stock-based compensation expense related to non-vested stock option and restricted stock unit awards that is expected to be recognized over a weighted average period of 1.20 years. The Company accounts for forfeitures as they occur. To the extent that awards are forfeitured, stock-based compensation will be different from the Company’s current estimate. Stock Options Stock Option activity for the six months ended September 30, 2017 is as follows: Options Number of Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding as of March 31, 2017 5,300 $ 44.74 Options granted — — Options exercised (405 ) 29.52 Options forfeited (16 ) 44.72 Options expired (24 ) 69.14 Outstanding as of September 30, 2017 4,855 $ 45.90 4.38 $ 96,324 Exercisable as of September 30, 2017 4,484 $ 45.53 4.16 $ 91,236 The total intrinsic value of options exercised was $4,623 and $11,625 for the three and six months ended September 30, 2017 and $3,070 and $4,439 for the three and six months ended September 30, 2016 . The Company’s policy is to issue new shares upon exercise of options as the Company does not hold shares in treasury. Restricted Stock Units Restricted stock unit activity for the six months ended September 30, 2017 is as follows: Non-vested Restricted Stock Units Number of Weighted Non-vested as of March 31, 2017 2,396 $ 45.53 Awarded 503 60.01 Vested (556 ) 56.19 Forfeited (59 ) 45.46 Non-vested as of September 30, 2017 2,284 $ 47.98 The weighted average fair value of restricted stock units awarded was $59.29 and $60.01 per unit during the three and six months ended September 30, 2017 , and $52.13 and $47.76 per unit during the three and six months ended September 30, 2016 . The weighted average fair value of awards includes the awards with a market condition described below. Performance Based Awards In the six months ended September 30, 2017 , the Company granted 107 performance restricted stock units ("PSU") to certain executives. Vesting of these awards is contingent upon i) the Company meeting certain company-wide revenue and non-GAAP performance goals (performance-based) in fiscal 2017 and ii) the Company's customary service periods. The awards vest over three years and have a maximum potential to vest at 200% ( 214 shares) based on actual fiscal 2018 performance. The related stock-based compensation expense is determined based on the value of the underlying shares on the date of grant and is recognized over the vesting term using the accelerated method. During the interim financial periods, management estimates the probable number of PSU’s that would vest until the ultimate achievement of the performance goals is known. The awards are included in the restricted stock unit table. Awards with a Market Condition In the six months ended September 30, 2017 , the Company granted 88 market performance stock units to certain executives. The vesting of these awards is contingent upon the Company meeting certain total shareholder return ("TSR") levels as compared to a market index over the next three years. The awards vest in three annual tranches and have a maximum potential to vest at 200% ( 176 shares) based on TSR performance. The related stock-based compensation expense is determined based on the estimated fair value of the underlying shares on the date of grant and is recognized using the accelerated method over the vesting term. The estimated fair value was calculated using a Monte Carlo simulation model. The fair value of the awards granted during the six months ended September 30, 2017 was $78.28 . The awards are included in the restricted stock unit table. Employee Stock Purchase Plan The Employee Stock Purchase Plan (the “Purchase Plan”) is a shareholder approved plan under which substantially all employees may purchase the Company’s common stock through payroll deductions at a price equal to 85% of the lower of the fair market values of the stock as of the beginning or the end of the six -month offering periods. An employee’s payroll deductions under the Purchase Plan are limited to 10% of the employee’s salary and employees may not purchase more than $25 of stock during any calendar year. As of September 30, 2017 , 2,290 shares were reserved for future issuance under the Purchase Plan. The Purchase Plan is considered compensatory and the fair value of the discount and look back provision are estimated using the Black-Scholes formula and recognized over the six month withholding period prior to purchase. The total expense associated with the Purchase Plan was $699 and $1,375 for the three and six months ended September 30, 2017 and $655 and $1,334 for the three and six months ended September 30, 2016 .

Income Taxes

Income Taxes	6 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax benefit was $3,502 and $7,339 in the three and six months ended September 30, 2017 . The income tax benefit in the three and six month periods ended September 30, 2017 includes the favorable impact of $1,423 and $3,781 of excess tax benefits for exercised stock options and vested restricted stock units, respectively. In prior periods, excess tax benefits were accounted for as a component of equity. The income tax benefit also includes the favorable impact of research tax credits and was partially offset by the unfavorable impact of permanent book to tax differences. Income tax benefit was $131 and $826 in the three and six months ended September 30, 2016 The effective rate of the income tax benefit in the six month period is lower than the federal statutory rate due to the impact of unfavorable permanent differences. The tax benefit for the six months ended September 30, 2016 includes $616 of income tax expense related to a change in the estimated state tax rate applied to the state deferred tax asset and the state income tax payable. Unrecognized Tax Benefits The calculation of the Company’s tax liabilities involves dealing with uncertainties in the application of complex tax regulations in each of its tax jurisdictions. The number of years with open tax audits varies depending on the tax jurisdiction. A number of years may lapse before a particular matter is audited and finally resolved. A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows: Balance as of March 31, 2017 $ 2,098 Additions for tax positions related to fiscal 2017 126 Additions for tax positions related to prior years — Settlements and effective settlements with tax authorities and remeasurements — Reductions related to the expiration of statutes of limitations — Foreign currency translation adjustment 10 Balance as of September 30, 2017 $ 2,234 All of the Company’s unrecognized tax benefits would favorably impact the effective tax rate if they were recognized. Components of the reserve are classified as either current or long-term in the Consolidated Balance Sheet based on when the Company expects each of the items to be settled. Unrecognized tax benefits and the related accrued interest and penalties totaling $1,464 are recorded as Other Liabilities on the Consolidated Balance Sheet, of which $323 represents interest and penalties. The Company also has unrecognized tax benefits and related accrued interest and penalties totaling $1,197 as a reduction of Deferred Tax Assets on the Consolidated Balance Sheet, of which $104 represents interest and penalties. Other Tax Items The Company conducts business globally and as a result, files income tax returns in the United States and in various state and foreign jurisdictions. In the normal course of business, the Company is subject to examination by taxing authorities throughout the world, including such major jurisdictions as the United States, Australia, Canada, Germany, Netherlands and United Kingdom. The years subject to income tax examination in the Company’s foreign jurisdictions cover the maximum time period with respect to these jurisdictions. Due to net operating loss ("NOL") carryforwards, in some cases the tax years continue to remain subject to examination with respect to such NOLs.

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	The consolidated financial statements as of September 30, 2017 and for the three and six months ended September 30, 2017 and 2016 are unaudited, and in the opinion of management, include all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of the results for the interim periods. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles (“U.S. GAAP”) for complete financial statements and should be read in conjunction with the financial statements and notes in the Company’s Annual Report on Form 10-K for fiscal 2017 . The results reported in these financial statements should not necessarily be taken as indicative of results that may be expected for the entire fiscal year. The Company has early adopted the new revenue standard as of April 1, 2017 using the full retrospective method which required each prior reporting period presented to be adjusted beginning with this issuance of the Company’s financial statements.
Use of Estimates	The preparation of financial statements and related disclosures in conformity with U.S. GAAP requires management to make judgments and estimates that affect the amounts reported in the Company’s consolidated financial statements and the accompanying notes. The Company bases its estimates and judgments on historical experience and on various other assumptions that it believes are reasonable under the circumstances. The amounts of assets and liabilities reported in the Company’s balance sheets and the amounts of revenues and expenses reported for each of its periods presented are affected by estimates and assumptions, which are used for, but not limited to, the accounting for revenue recognition, income taxes and related reserves, stock-based compensation and accounting for research and development costs. Actual results could differ from those estimates.
Recently Issued Accounting Standards	Revenue Recognition In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") No. 2014-09, "Revenue from Contracts with Customers (Topic 606)." This standard replaced existing revenue recognition rules with a comprehensive revenue measurement and recognition standard and expanded disclosure requirements. The ASU also includes guidance regarding the accounting for contract acquisition costs, which includes sales commissions. The Company has early adopted the new standard as of April 1, 2017 using the full retrospective method which required each prior reporting period presented to be adjusted beginning with this issuance of the Company’s financial statements. The most significant impact of adopting the new standard related to the deferral of commission costs. A portion of sales commissions cost is now recorded as an asset and recognized as an operating expense over the time period that the Company expects to recover the costs. Select adjusted unaudited financial statement information, which reflect the adoption of Topic 606 is below. The Company’s historical net cash flows are not impacted by this accounting change. Three Months Ended September 30, 2016 Unaudited As Reported Adjustments Adjusted for Adoption of ASC 606 Revenues: Software $ 70,457 $ (52 ) $ 70,405 Services 88,876 157 89,033 Total revenues 159,333 105 159,438 Total cost of revenues 21,657 — 21,657 Gross margin 137,676 105 137,781 Total operating expenses 138,433 (594 ) 137,839 Income (loss) from operations (757 ) 699 (58 ) Interest expense (245 ) — (245 ) Interest income 276 — 276 Equity in loss of affiliate (158 ) — (158 ) Income (loss) before income taxes (884 ) 699 (185 ) Income tax expense (benefit) (322 ) 191 (131 ) Net income (loss) $ (562 ) $ 508 $ (54 ) Six Months Ended September 30, 2016 Unaudited As Reported Adjustments Adjusted for Adoption of ASC 606 Revenues: Software $ 134,394 $ (576 ) $ 133,818 Services 177,352 42 177,394 Total revenues 311,746 (534 ) 311,212 Total cost of revenues 42,652 — 42,652 Gross margin 269,094 (534 ) 268,560 Total operating expenses 272,399 (553 ) 271,846 Income (loss) from operations (3,305 ) 19 (3,286 ) Interest expense (491 ) — (491 ) Interest income 531 — 531 Equity in loss of affiliate (244 ) — (244 ) Income (loss) before income taxes (3,509 ) 19 (3,490 ) Income tax expense (benefit) (903 ) 77 (826 ) Net income (loss) $ (2,606 ) $ (58 ) $ (2,664 ) March 31, 2017 Unaudited Balance Sheet Data As Reported Adjustments Adjusted for Adoption of ASC 606 Current assets: Trade accounts receivable $ 132,761 $ 7,323 $ 140,084 Total current assets $ 598,736 $ 7,323 $ 606,059 Deferred tax assets, net $ 61,018 $ (10,790 ) $ 50,228 Deferred commissions $ — $ 30,378 $ 30,378 Total assets $ 802,967 $ 26,911 $ 829,878 Current Liabilities: Deferred revenue $ 206,777 $ 2,322 $ 209,099 Total current liabilities $ 285,595 $ 2,322 $ 287,917 Other liabilities $ 3,934 $ 292 $ 4,226 Accumulated deficit $ (239,974 ) $ 24,297 $ (215,677 ) Total stockholders’ equity $ 442,635 $ 24,297 $ 466,932 Total liabilities and stockholders’ equity $ 802,967 $ 26,911 $ 829,878 Share-Based Compensation In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting (Topic 718), which simplifies the accounting for share-based payment transactions, including related accounting for income taxes, forfeitures, and classification in the statement of cash flows. The Company adopted the guidance prospectively effective April 1, 2017. The guidance requires excess tax benefits and tax deficiencies to be recorded as income tax benefit or expense in the statement of income when the awards vest or are settled, and eliminates the requirement to reclassify cash flows related to excess tax benefits from operating activities to financing activities on the statement of cash flows. In the six months ended September 30, 2017, the Company recognized $3,781 of such excess tax benefits, and, pursuant to the adopted guidance, net loss decreased by $3,781 , or $0.08 per basic and diluted share. Amounts previously recorded to Additional paid-in capital related to excess tax benefits prior to April 1, 2017 remain in Stockholders' equity. Cash flows related to excess taxes prior to April 1, 2017 remain classified as financing cash flows. In addition, the standard allows the Company to repurchase more of an employee’s vesting shares for tax withholding purposes without triggering liability accounting, and provides an accounting policy election to account for forfeitures as they occur. The Company has elected to account for forfeitures as they occur. The cumulative impact of the election to account for forfeitures as they are incurred is included as an adjustment to accumulated deficit. Leases In February 2016, the FASB issued ASU 2016-02 “Leases (Topic 842)” (“ASU 2016-02”). Under ASU 2016-02, a lessee will recognize in the balance sheet a liability to make lease payments (the lease liability) and a right-to-use asset representing its right to use the underlying asset for the lease term. The amendments of this ASU are effective for the Company's fiscal 2020, with early adoption permitted. A company will be required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The Company is currently assessing the impact the adoption of ASU 2016-02 will have on the financial statements.
Trade and Other Receivables	Trade and other receivables are primarily comprised of trade receivables that are recorded at the invoice amount, net of an allowance for doubtful accounts, which is not material. Unbilled receivables represent amounts for which revenue has been recognized but which have not yet been invoiced to the customer. The current portion of unbilled receivables is included in Trade accounts receivable on the consolidated balance sheet. Long term unbilled receivables are included in Other assets.
Sales Tax	The Company records revenue net of sales tax.
Shipping and Handling Cost	Shipping and handling costs are included in cost of revenues for all periods presented
Deferred Commissions Cost	The Company currently estimates a period of five years is appropriate based on consideration of historical average customer life and the estimated useful life of the underlying software sold as part of the transaction. The costs related to professional services are amortized within one quarter following the date of the related software sale, which is typically the period the related professional services are provided and revenue is recognized. Amortization expense related to these costs is included in Sales and marketing expenses in the accompanying condensed consolidated statements of loss. Costs related to software updates and support for term-based, or subscription software licenses, are limited to the contractual period of the arrangement as the Company intends to pay a commensurate commission upon renewal of the subscription license and related updates and support.
Deferred Revenue	Deferred revenues represent amounts collected from, or invoiced to, customers in excess of revenues recognized. This results primarily from the billing of annual customer support agreements, and billings for other professional services fees that have not yet been performed by the Company. The value of deferred revenues will increase or decrease based on the timing of invoices and recognition of revenue.
Concentration of Credit Risk	The Company grants credit to customers in a wide variety of industries worldwide and generally does not require collateral. Credit losses relating to these customers have been minimal.
Fair Value of Financial Instruments	The carrying amounts of the Company’s cash and cash equivalents, accounts receivable and accounts payable approximate their fair values due to the short-term maturity of these instruments. The Company’s cash equivalents balance consists primarily of money market funds. The Company’s short-term investments balance consists of U.S. Treasury Bills with maturities of one year or less. The Company accounts for its short-term investments as held to maturity. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for such asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value should maximize the use of observable inputs and minimize the use of unobservable inputs. To measure fair value, the Company uses the following fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable: Level 1 – Quoted prices in active markets for identical assets or liabilities. Level 2 – Inputs other than Level 1 that are observable for the asset or liability, either directly or indirectly, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data by correlation or other means. Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Revenue from Contract with Customer Financial Statement Impact	Select adjusted unaudited financial statement information, which reflect the adoption of Topic 606 is below. The Company’s historical net cash flows are not impacted by this accounting change. Three Months Ended September 30, 2016 Unaudited As Reported Adjustments Adjusted for Adoption of ASC 606 Revenues: Software $ 70,457 $ (52 ) $ 70,405 Services 88,876 157 89,033 Total revenues 159,333 105 159,438 Total cost of revenues 21,657 — 21,657 Gross margin 137,676 105 137,781 Total operating expenses 138,433 (594 ) 137,839 Income (loss) from operations (757 ) 699 (58 ) Interest expense (245 ) — (245 ) Interest income 276 — 276 Equity in loss of affiliate (158 ) — (158 ) Income (loss) before income taxes (884 ) 699 (185 ) Income tax expense (benefit) (322 ) 191 (131 ) Net income (loss) $ (562 ) $ 508 $ (54 ) Six Months Ended September 30, 2016 Unaudited As Reported Adjustments Adjusted for Adoption of ASC 606 Revenues: Software $ 134,394 $ (576 ) $ 133,818 Services 177,352 42 177,394 Total revenues 311,746 (534 ) 311,212 Total cost of revenues 42,652 — 42,652 Gross margin 269,094 (534 ) 268,560 Total operating expenses 272,399 (553 ) 271,846 Income (loss) from operations (3,305 ) 19 (3,286 ) Interest expense (491 ) — (491 ) Interest income 531 — 531 Equity in loss of affiliate (244 ) — (244 ) Income (loss) before income taxes (3,509 ) 19 (3,490 ) Income tax expense (benefit) (903 ) 77 (826 ) Net income (loss) $ (2,606 ) $ (58 ) $ (2,664 ) March 31, 2017 Unaudited Balance Sheet Data As Reported Adjustments Adjusted for Adoption of ASC 606 Current assets: Trade accounts receivable $ 132,761 $ 7,323 $ 140,084 Total current assets $ 598,736 $ 7,323 $ 606,059 Deferred tax assets, net $ 61,018 $ (10,790 ) $ 50,228 Deferred commissions $ — $ 30,378 $ 30,378 Total assets $ 802,967 $ 26,911 $ 829,878 Current Liabilities: Deferred revenue $ 206,777 $ 2,322 $ 209,099 Total current liabilities $ 285,595 $ 2,322 $ 287,917 Other liabilities $ 3,934 $ 292 $ 4,226 Accumulated deficit $ (239,974 ) $ 24,297 $ (215,677 ) Total stockholders’ equity $ 442,635 $ 24,297 $ 466,932 Total liabilities and stockholders’ equity $ 802,967 $ 26,911 $ 829,878
Financial Assets Measured at Fair Value	The following table summarizes the composition of the Company’s financial assets measured at fair value at September 30, 2017 and March 31, 2017 : September 30, 2017 Level 1 Level 2 Level 3 Total Cash equivalents $ 89,944 — — $ 89,944 Short-term investments $ — 131,719 — $ 131,719 March 31, 2017 Level 1 Level 2 Level 3 Total Cash equivalents $ 70,190 — — $ 70,190 Short-term investments $ — 120,989 — $ 120,989

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Sep. 30, 2017
Revenue from Contract with Customer [Abstract]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction	The Company’s typical performance obligations include the following: Performance Obligation When Performance Obligation is Typically Satisfied When Payment is Typically Due How Standalone Selling Price is Typically Estimated Software Revenue Software Licenses Upon shipment or made available for download (point in time) Within 90 days of shipment except for certain subscription licenses which are paid for over time Residual approach Customer Support Revenue Software Updates Ratably over the course of the support contract (over time) At the beginning of the contract period Observable in renewal transactions Customer Support Ratably over the course of the support contract (over time) At the beginning of the contract period Observable in renewal transactions Professional Services Other Professional Services (except for education services) As work is performed (over time) Within 90 days of services being performed Observable in transactions without multiple performance obligations Education Services When the class is taught (point in time) Within 90 days of services being performed Observable in transactions without multiple performance obligations
Disaggregation of Revenue	Three Months Ended September 30, 2017 Americas EMEA APAC Total Software Revenue $ 40,704 $ 21,049 $ 10,267 $ 72,020 Customer Support Revenue 58,205 18,625 8,947 85,777 Professional Services 5,965 2,759 1,619 10,343 Total Revenue $ 104,874 $ 42,433 $ 20,833 $ 168,140 Three Months Ended September 30, 2016 Americas EMEA APAC Total Software Revenue $ 43,922 $ 17,153 $ 9,330 $ 70,405 Customer Support Revenue 53,882 16,436 8,120 78,438 Professional Services 6,360 2,753 1,482 10,595 Total Revenue $ 104,164 $ 36,342 $ 18,932 $ 159,438 Six Months Ended September 30, 2017 Americas EMEA APAC Total Software Revenue $ 80,715 $ 44,821 $ 21,245 $ 146,781 Customer Support Revenue 114,394 35,736 17,537 167,667 Professional Services 10,826 5,304 3,534 19,664 Total Revenue $ 205,935 $ 85,861 $ 42,316 $ 334,112 Six Months Ended September 30, 2016 Americas EMEA APAC Total Software Revenue $ 79,723 $ 34,786 $ 19,309 $ 133,818 Customer Support Revenue 107,485 33,062 16,158 156,705 Professional Services 12,385 5,569 2,735 20,689 Total Revenue $ 199,593 $ 73,417 $ 38,202 $ 311,212
Contract with Customer, Asset and Liability	The opening and closing balances of the Company’s accounts receivable, unbilled receivables, and deferred revenues are as follows: Accounts Receivable Unbilled Receivable (current) Unbilled Receivable (long-term) Deferred Revenue (current) Deferred Revenue (long-term) Opening Balance as of March 31, 2017 $ 132,711 $ 7,373 $ — $ 209,099 $ 70,803 Increase/(decrease), net (8,516 ) (1,869 ) 754 7,658 8,119 Ending Balance as of September 30, 2017 $ 124,195 $ 5,504 $ 754 $ 216,757 $ 78,922

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Sep. 30, 2017
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and equipment consist of the following: September 30, March 31, 2017 2017 Land $ 9,445 $ 9,445 Buildings 103,244 103,244 Computers, servers and other equipment 36,695 35,274 Furniture and fixtures 15,468 14,912 Leasehold improvements 9,084 7,040 Purchased software 1,396 1,335 Construction in process 76 1,147 175,408 172,397 Less: Accumulated depreciation and amortization (45,696 ) (40,078 ) $ 129,712 $ 132,319

Stock Plans (Tables)

Stock Plans (Tables)	6 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation Expense	The following table presents the stock-based compensation expense included in Cost of services revenue, Sales and marketing, Research and development and General and administrative expenses for the three and six months ended September 30, 2017 and 2016 . Stock-based compensation is attributable to stock options, restricted stock units, performance based awards and the employee stock purchase plan. Three Months Ended September 30, Six Months Ended September 30, 2017 2016 2017 2016 Cost of services revenue $ 751 $ 964 $ 1,502 $ 1,835 Sales and marketing 8,984 8,290 18,424 15,961 Research and development 2,070 1,770 4,140 3,448 General and administrative 8,016 7,679 15,319 14,799 Stock-based compensation expense $ 19,821 $ 18,703 $ 39,385 $ 36,043
Schedule of Stock Option Activity	Stock Option activity for the six months ended September 30, 2017 is as follows: Options Number of Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding as of March 31, 2017 5,300 $ 44.74 Options granted — — Options exercised (405 ) 29.52 Options forfeited (16 ) 44.72 Options expired (24 ) 69.14 Outstanding as of September 30, 2017 4,855 $ 45.90 4.38 $ 96,324 Exercisable as of September 30, 2017 4,484 $ 45.53 4.16 $ 91,236
Schedule of Restricted Stock Unit Activity	Restricted stock unit activity for the six months ended September 30, 2017 is as follows: Non-vested Restricted Stock Units Number of Weighted Non-vested as of March 31, 2017 2,396 $ 45.53 Awarded 503 60.01 Vested (556 ) 56.19 Forfeited (59 ) 45.46 Non-vested as of September 30, 2017 2,284 $ 47.98

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Reconciliation of Amounts of Unrecognized Tax Benefits	A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows: Balance as of March 31, 2017 $ 2,098 Additions for tax positions related to fiscal 2017 126 Additions for tax positions related to prior years — Settlements and effective settlements with tax authorities and remeasurements — Reductions related to the expiration of statutes of limitations — Foreign currency translation adjustment 10 Balance as of September 30, 2017 $ 2,234

Summary of Significant Accoun24

Summary of Significant Accounting Policies - Recently Issued Accounting Standards - ASU 2014-09 I (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues:
Software	$ 72,020	$ 70,405	$ 146,781	$ 133,818
Services	96,120	89,033	187,331	177,394
Total revenues	168,140	159,438	334,112	311,212
Total cost of revenues	23,267	21,657	44,928	42,652
Gross margin	144,873	137,781	289,184	268,560
Total operating expenses	149,528	137,839	298,200	271,846
Loss from operations	(4,655)	(58)	(9,016)	(3,286)
Interest expense	(234)	(245)	(466)	(491)
Interest income	539	276	972	531
Equity in loss of affiliate	(162)	(158)	(123)	(244)
Loss before income taxes	(4,512)	(185)	(8,633)	(3,490)
Income tax expense (benefit)	(3,502)	(131)	(7,339)	(826)
Net loss	$ (1,010)	(54)	$ (1,294)	(2,664)
As Reported
Revenues:
Software		70,457		134,394
Services		88,876		177,352
Total revenues		159,333		311,746
Total cost of revenues		21,657		42,652
Gross margin		137,676		269,094
Total operating expenses		138,433		272,399
Loss from operations		(757)		(3,305)
Interest expense		(245)		(491)
Interest income		276		531
Equity in loss of affiliate		(158)		(244)
Loss before income taxes		(884)		(3,509)
Income tax expense (benefit)		(322)		(903)
Net loss		(562)		(2,606)
Adjustments | Accounting Standards Update 2014-09
Revenues:
Software		(52)		(576)
Services		157		42
Total revenues		105		(534)
Total cost of revenues		0		0
Gross margin		105		(534)
Total operating expenses		(594)		(553)
Loss from operations		699		19
Interest expense		0		0
Interest income		0		0
Equity in loss of affiliate		0		0
Loss before income taxes		699		19
Income tax expense (benefit)		191		77
Net loss		$ 508		$ (58)

Summary of Significant Accoun25

Summary of Significant Accounting Policies - Recently Issued Accounting Standards - ASU 2014-09 II (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Current assets:
Trade accounts receivable		$ 140,084
Total current assets	$ 653,231	606,059
Deferred tax assets, net	52,868	50,228
Deferred commissions	30,455	30,378
Total assets	877,945	829,878
Current liabilities:
Deferred revenue	216,757	209,099
Total current liabilities	280,094	287,917
Other liabilities	3,646	4,226
Accumulated deficit	(227,022)	(215,677)
Total stockholders’ equity	515,283	466,932
Total liabilities and stockholders’ equity	$ 877,945	829,878
As Reported
Current assets:
Trade accounts receivable		132,761
Total current assets		598,736
Deferred tax assets, net		61,018
Deferred commissions		0
Total assets		802,967
Current liabilities:
Deferred revenue		206,777
Total current liabilities		285,595
Other liabilities		3,934
Accumulated deficit		(239,974)
Total stockholders’ equity		442,635
Total liabilities and stockholders’ equity		802,967
Adjustments | Accounting Standards Update 2014-09
Current assets:
Trade accounts receivable		7,323
Total current assets		7,323
Deferred tax assets, net		(10,790)
Deferred commissions		30,378
Total assets		26,911
Current liabilities:
Deferred revenue		2,322
Total current liabilities		2,322
Other liabilities		292
Accumulated deficit		24,297
Total stockholders’ equity		24,297
Total liabilities and stockholders’ equity		$ 26,911

Summary of Significant Accoun26

Summary of Significant Accounting Policies - Share-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Excess tax benefits	$ 1,423		$ 3,781
Decrease to net loss	$ (1,010)	$ (54)	$ (1,294)	$ (2,664)
Decrease to earnings per share, basic (in dollars per share)	$ (0.02)	$ 0	$ (0.03)	$ (0.06)
Decrease to earnings per share, diluted (in dollars per share)	$ (0.02)	$ 0	$ (0.03)	$ (0.06)
Accounting Standards Update 2016-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Decrease to net loss			$ 3,781
Decrease to earnings per share, basic (in dollars per share)			$ 0.08
Decrease to earnings per share, diluted (in dollars per share)			$ 0.08

Summary of Significant Accoun27

Summary of Significant Accounting Policies - Deferred Commissions Cost (Details)	6 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Deferred commissions cost, period of benefit	5 years

Summary of Significant Accoun28

Summary of Significant Accounting Policies - Related Party Transactions (Details) - Director - Director on Company's board of directors hired as CEO of Rackspace, Inc. - USD ($) $ in Thousands	Mar. 31, 2017	Sep. 30, 2017
Related Party Transaction [Line Items]
Revenue from related party	$ 4,212	$ 4,539
Accounts receivable from related party		$ 2,759

Summary of Significant Accoun29

Summary of Significant Accounting Policies - Concentration of Credit Risk (Details) - Customer Concentration Risk - Arrow	6 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Mar. 31, 2017
Revenue
Concentration Risk [Line Items]
Concentration risk percentage	36.00%	35.00%
Accounts receivable
Concentration Risk [Line Items]
Concentration risk percentage	37.00%		40.00%

Summary of Significant Accoun30

Summary of Significant Accounting Policies - Summary of Fair Value of Financial Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 89,944	$ 70,190
Short-term investments	131,719	120,989
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	89,944	70,190
Short-term investments	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Short-term investments	131,719	120,989
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Short-term investments	$ 0	$ 0

Revenue - Additional Informati

Revenue - Additional Information (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2017USD ($)revenue_sourcesegment
Revenue from Contract with Customer [Abstract]
Sources of primary revenue | revenue_source		2
Customer support agreement term		1 year
Number of operating segments | segment		1
Revenue recognized in period, included in opening deferred revenue balance	$ 82,664	$ 161,596
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized from remaining performance obligations	16,493	16,493
Software Revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized from remaining performance obligations	$ 245	$ 245

Revenue - Performance Obligati

Revenue - Performance Obligations (Details)	6 Months Ended
	Sep. 30, 2017
Software Revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, expected payment terms	90 days
Professional Services, other
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, expected payment terms	90 days
Professional Services, education services
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, expected payment terms	90 days

Revenue - Disaggregation of Re

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Disaggregation of Revenue [Line Items]
Total Revenue	$ 168,140	$ 159,438	$ 334,112	$ 311,212
Americas
Disaggregation of Revenue [Line Items]
Total Revenue	104,874	104,164	205,935	199,593
EMEA
Disaggregation of Revenue [Line Items]
Total Revenue	42,433	36,342	85,861	73,417
APAC
Disaggregation of Revenue [Line Items]
Total Revenue	20,833	18,932	42,316	38,202
Software Revenue
Disaggregation of Revenue [Line Items]
Total Revenue	72,020	70,405	146,781	133,818
Software Revenue | Americas
Disaggregation of Revenue [Line Items]
Total Revenue	40,704	43,922	80,715	79,723
Software Revenue | EMEA
Disaggregation of Revenue [Line Items]
Total Revenue	21,049	17,153	44,821	34,786
Software Revenue | APAC
Disaggregation of Revenue [Line Items]
Total Revenue	10,267	9,330	21,245	19,309
Customer Support Revenue
Disaggregation of Revenue [Line Items]
Total Revenue	85,777	78,438	167,667	156,705
Customer Support Revenue | Americas
Disaggregation of Revenue [Line Items]
Total Revenue	58,205	53,882	114,394	107,485
Customer Support Revenue | EMEA
Disaggregation of Revenue [Line Items]
Total Revenue	18,625	16,436	35,736	33,062
Customer Support Revenue | APAC
Disaggregation of Revenue [Line Items]
Total Revenue	8,947	8,120	17,537	16,158
Professional Services
Disaggregation of Revenue [Line Items]
Total Revenue	10,343	10,595	19,664	20,689
Professional Services | Americas
Disaggregation of Revenue [Line Items]
Total Revenue	5,965	6,360	10,826	12,385
Professional Services | EMEA
Disaggregation of Revenue [Line Items]
Total Revenue	2,759	2,753	5,304	5,569
Professional Services | APAC
Disaggregation of Revenue [Line Items]
Total Revenue	$ 1,619	$ 1,482	$ 3,534	$ 2,735

Revenue - Opening and Closing

Revenue - Opening and Closing Balances (Receivables) (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Accounts Receivable [Roll Forward]
Increase/(decrease), net	$ (12,439)	$ (8,251)
Trade accounts receivable
Accounts Receivable [Roll Forward]
Opening Balance as of March 31, 2017	132,711
Increase/(decrease), net	(8,516)
Ending Balance as of September 30, 2017	124,195
Unbilled Receivable (current) [Roll Forward]
Opening Balance as of March 31, 2017	7,373
Increase/(decrease), net	(1,869)
Ending Balance as of September 30, 2017	5,504
Other assets
Unbilled Receivable (long-term) [Roll Forward]
Opening Balance as of March 31, 2017	0
Increase/(decrease), net	754
Ending Balance as of September 30, 2017	$ 754

Revenue - Opening and Closin35

Revenue - Opening and Closing Balances (Deferred Revenue) (Details) $ in Thousands	6 Months Ended
	Sep. 30, 2017USD ($)
Deferred revenue
Deferred Revenue (current) [Roll Forward]
Opening Balance as of March 31, 2017	$ 209,099
Increase/(decrease), net	7,658
Ending Balance as of September 30, 2017	216,757
Deferred revenue, less current portion
Contract With Customer, Liability, Noncurrent [Roll Forward]
Opening Balance as of March 31, 2017	70,803
Increase/(decrease), net	8,119
Ending Balance as of September 30, 2017	$ 78,922

Property and Equipment - Sched

Property and Equipment - Schedule of Property and Equipment (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 175,408	$ 172,397
Less: Accumulated depreciation and amortization	(45,696)	(40,078)
Property and equipment, net	129,712	132,319
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	9,445	9,445
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment, gross	103,244	103,244
Computers, servers and other equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	36,695	35,274
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	15,468	14,912
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	9,084	7,040
Purchased software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,396	1,335
Construction in process
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 76	$ 1,147

Property and Equipment - Addit

Property and Equipment - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 5,441	$ 4,878

Net Income per Common Share -

Net Income per Common Share - Additional Information (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation (in shares)	7,433	8,381	7,557	8,374

Commitments and Contingencies

Commitments and Contingencies - Additional Information (Details) $ in Thousands	Oct. 02, 2017USD ($)	Feb. 27, 2017patent
Settled | District of New Jersey against the Company | Subsequent Event [Member]
Loss Contingencies [Line Items]
Settlement amount | $	$ 12,500
Pending | Realtime
Loss Contingencies [Line Items]
Number of patents involved in alleged infringement | patent		4

Revolving Credit Facility (Deta

Revolving Credit Facility (Details) - Revolving credit facility - USD ($)	Jun. 30, 2014	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Line of Credit Facility [Line Items]
Debt term	5 years
Borrowing capacity	$ 250,000,000
Unused capacity, commitment fee percentage	0.25%
Borrowings under the Credit Facility		$ 0		$ 0
Unamortized debt issuance costs		442,000		442,000
Amortization of debt issuance costs		$ 63,000	$ 63,000	$ 126,000	$ 126,000
LIBOR rate
Line of Credit Facility [Line Items]
Variable rate	1.50%

Capitalization (Detail)

Capitalization (Detail) shares in Thousands, $ in Thousands	3 Months Ended	6 Months Ended
	Sep. 30, 2017USD ($)shares	Sep. 30, 2017USD ($)shares
Class of Stock [Line Items]
Repurchase of common stock		$ 11,259
Common stock repurchase program
Class of Stock [Line Items]
Repurchase of common stock	$ 11,259	$ 11,259
Repurchase of common stock (in shares) | shares	192	192
Remaining value of common stock to be repurchased under share repurchase program	$ 113,740	$ 113,740

Stock Plans - Additional Infor

Stock Plans - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2017	Aug. 24, 2017
Stock options and restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense, net of estimated forfeitures	$ 86,000
Weighted average period awards are expected to be recognized	1 year 2 months 12 days
2016 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares of common stock that may be delivered under plan (in shares)		3,550,000

Stock Plans - Stock-Based Comp

Stock Plans - Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 19,821	$ 18,703	$ 39,385	$ 36,043
Cost of services revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	751	964	1,502	1,835
Sales and marketing
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	8,984	8,290	18,424	15,961
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	2,070	1,770	4,140	3,448
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 8,016	$ 7,679	$ 15,319	$ 14,799

Stock Plans - Activity for Com

Stock Plans - Activity for Company's Two Stock Incentive Plans (Detail) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended
	Sep. 30, 2017USD ($)$ / sharesshares
Number of Options
Outstanding (in shares) as of March 31, 2017 | shares	5,300
Options granted (in shares) | shares	0
Options exercised (in shares) | shares	(405)
Options forfeited (in shares) | shares	(16)
Options expired (in shares) | shares	(24)
Outstanding (in shares) as of September 30, 2017 | shares	4,855
Exercisable (in shares) as of September 30, 2017 | shares	4,484
Weighted- Average Exercise Price
Outstanding (in dollars per share) as of March 31, 2017 | $ / shares	$ 44.74
Options granted (in dollars per share) | $ / shares	0
Options exercised (in dollars per share) | $ / shares	29.52
Options forfeited (in dollars per share) | $ / shares	44.72
Options expired (in dollars per share) | $ / shares	69.14
Outstanding (in dollars per share) as of September 30, 2017 | $ / shares	45.90
Exercisable (in dollars per share) as of September 30, 2017 | $ / shares	$ 45.53
Weighted- Average Remaining Contractual Term (Years)
Outstanding (in years) as of September 30, 2017	4 years 4 months 17 days
Exercisable (in years) as of September 30, 2017	4 years 1 month 27 days
Aggregate Intrinsic Value
Outstanding as of September 30, 2017 | $	$ 96,324
Exercisable as of September 30, 2017 | $	$ 91,236

Stock Plans - Stock Options (D

Stock Plans - Stock Options (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Total intrinsic value of options exercised	$ 4,623	$ 3,070	$ 11,625	$ 4,439

Stock Plans - Restricted Stock

Stock Plans - Restricted Stock Unit Activity (Detail) - Restricted stock units - $ / shares shares in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Number of Awards
Non-vested (in shares) as of March 31, 2017			2,396
Awarded (in shares)			503
Vested (in shares)			(556)
Forfeited (in shares)			(59)
Non-vested (in shares) as of September 30, 2017	2,284		2,284
Weighted Average Grant Date Fair Value
Non-vested (in dollars per share) as of March 31, 2017			$ 45.53
Awarded (in dollars per share)	$ 59.29	$ 52.13	60.01	$ 47.76
Vested (in dollars per share)			56.19
Forfeited (in dollars per share)			45.46
Non-vested (in dollars per share) as of September 30, 2017	$ 47.98		$ 47.98

Stock Plans - Restricted Sto47

Stock Plans - Restricted Stock Units (Details) - $ / shares	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value, units awarded (in dollars per share)	$ 59.29	$ 52.13	$ 60.01	$ 47.76

Stock Plans - Performance-base

Stock Plans - Performance-based and Market-based Awards (Details) shares in Thousands	6 Months Ended
	Sep. 30, 2017tranche$ / sharesshares
Performance stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awarded (in shares)	107
Service period	3 years
Maximum potential to vest (as a percentage)	200.00%
Maximum potential to vest (in shares)	214
Performance restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awarded (in shares)	88
Service period	3 years
Number of annual tranches | tranche	3
Maximum potential to vest (as a percentage)	200.00%
Maximum potential to vest (in shares)	176
Weighted average fair value, units awarded (in dollars per share) | $ / shares	$ 78.28

Stock Plans - Employee Stock P

Stock Plans - Employee Stock Purchase Plan (Details) - Purchase plan - USD ($) shares in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock purchase price (as a percentage)			85.00%
Offering period			6 months
Maximum employee subscription rate (as a percentage)	10.00%		10.00%
Maximum annual purchases per employee			$ 25,000
Number of shares reserved for future issuance (in shares)	2,290		2,290
Compensation expense	$ 699,000	$ 655,000	$ 1,375,000	$ 1,334,000

Income Taxes - Additional Info

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income tax benefit	$ 3,502	$ 131	$ 7,339	$ 826
Income tax reconciliation, impact of excess tax benefits for exercised stock options and vested restricted stock units	1,423		3,781
Income tax reconciliation, change in enacted tax rate				$ 616
Reconciliation Of Unrecognized Tax Benefits [Line Items]
Unrecognized tax benefits	2,234		2,234		$ 2,098
Other liabilities
Reconciliation Of Unrecognized Tax Benefits [Line Items]
Unrecognized tax benefits	1,464		1,464
Unrecognized tax benefits accrued interest and penalties	323		323
Deferred tax assets
Reconciliation Of Unrecognized Tax Benefits [Line Items]
Unrecognized tax benefits	1,197		1,197
Unrecognized tax benefits accrued interest and penalties	$ 104		$ 104

Income Taxes - Reconciliation

Income Taxes - Reconciliation of Amounts of Unrecognized Tax Benefits (Detail) $ in Thousands	6 Months Ended
	Sep. 30, 2017USD ($)
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance as of March 31, 2017	$ 2,098
Additions for tax positions related to fiscal 2017	126
Additions for tax positions related to prior years	0
Settlements and effective settlements with tax authorities and remeasurements	0
Reductions related to the expiration of statutes of limitations	0
Foreign currency translation adjustment	10
Balance as of September 30, 2017	$ 2,234