Commvault Systems (CVLT) 10-Q 28 Jul 21 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Jun. 30, 2021	Jul. 27, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	1-33026
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	22-3447504
Entity Address, Address Line One	1 Commvault Way
Entity Address, City or Town	Tinton Falls
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07724
City Area Code	732
Local Phone Number	870-4000
Title of 12(b) Security	Common Stock
Trading Symbol	CVLT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		45,870,960
Entity Registrant Name	COMMVAULT SYSTEMS INC
Entity Central Index Key	0001169561
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021
Current assets:
Cash and cash equivalents	$ 359,149	$ 397,237
Trade accounts receivable, net	158,862	188,126
Other current assets	23,868	22,237
Total current assets	541,879	607,600
Property and equipment, net	111,778	112,779
Operating lease assets	19,666	20,778
Deferred commissions cost	40,352	38,444
Goodwill	112,435	112,435
Other assets	13,278	12,137
Total assets	839,388	904,173
Current liabilities:
Accounts payable	136	374
Accrued liabilities	87,141	112,148
Current portion of operating lease liabilities	7,263	7,469
Deferred revenue		253,211
Total current liabilities	347,283	373,202
Deferred revenue, less current portion		119,231
Deferred tax liabilities, net	762	761
Long-term operating lease liabilities	14,351	15,419
Other liabilities	1,539	1,526
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value: 50,000 shares authorized, no shares issued and outstanding	0	0
Common stock, $0.01 par value: 250,000 shares authorized, 46,066 shares and 46,482 shares issued and outstanding at June 30, 2021 and March 31, 2021, respectively	459	463
Additional paid-in capital	1,095,903	1,069,695
Accumulated deficit	(730,883)	(665,774)
Accumulated other comprehensive loss	(10,941)	(10,350)
Total stockholders’ equity	354,538	394,034
Total liabilities and stockholders’ equity	$ 839,388	$ 904,173

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2021	Mar. 31, 2021
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)	46,066,000	46,482,000
Common stock, shares outstanding (in shares)	46,066,000	46,482,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Revenues:
Total revenues	$ 183,421	$ 173,000
Cost of revenues:
Total cost of revenues	25,275	24,551
Gross margin	158,146	148,449
Operating expenses:
Sales and marketing	76,361	81,676
Research and development	36,135	31,142
General and administrative	26,429	21,559
Restructuring	1,446	2,324
Depreciation and amortization	2,281	5,065
Total operating expenses	142,652	141,766
Income from operations	15,494	6,683
Interest income	134	343
Income before income taxes	15,628	7,026
Income tax expense	1,731	4,743
Net income	$ 13,897	$ 2,283
Net income per common share:
Basic (in dollars per share)	$ 0.30	$ 0.05
Diluted (in dollars per share)	$ 0.29	$ 0.05
Weighted average common shares outstanding:
Basic (in shares)	46,180	46,191
Diluted (in shares)	48,167	46,503
Software and products
Revenues:
Total revenues	$ 82,162	$ 76,554
Cost of revenues:
Total cost of revenues	2,306	5,847
Services
Revenues:
Total revenues	101,259	96,446
Cost of revenues:
Total cost of revenues	$ 22,969	$ 18,704

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 13,897	$ 2,283
Other comprehensive income (loss):
Foreign currency translation adjustment	(591)	950
Comprehensive income	$ 13,306	$ 3,233

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid – In Capital	Accumulated Deficit	Accumulated DeficitCumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Mar. 31, 2020			46,011,000
Beginning balance at Mar. 31, 2020	$ 411,904	$ (84)	$ 458	$ 978,659	$ (553,790)	$ (84)	$ (13,423)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	18,951			18,951
Share issuances related to stock-based compensation (in shares)			310,000
Share issuances related to stock-based compensation	$ 231		$ 3	228
Repurchase of common stock (in shares)	0
Net income	$ 2,283				2,283
Other comprehensive income (loss)	950						950
Ending balance (in shares) at Jun. 30, 2020			46,321,000
Ending balance at Jun. 30, 2020	434,235		$ 461	997,838	(551,591)		(12,473)
Beginning balance (in shares) at Mar. 31, 2021			46,482,000
Beginning balance at Mar. 31, 2021	394,034		$ 463	1,069,695	(665,774)		(10,350)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	21,811			21,811
Share issuances related to stock-based compensation (in shares)			833,000
Share issuances related to stock-based compensation	$ 15,435		$ 8	15,427
Repurchase of common stock (in shares)	(1,249,000)		(1,249,000)
Repurchase of common stock	$ (90,048)		$ (12)	(11,030)	(79,006)
Net income	13,897				13,897
Other comprehensive income (loss)	(591)						(591)
Ending balance (in shares) at Jun. 30, 2021			46,066,000
Ending balance at Jun. 30, 2021	$ 354,538		$ 459	$ 1,095,903	$ (730,883)		$ (10,941)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities
Net income	$ 13,897,000	$ 2,283,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,593,000	5,378,000
Noncash stock-based compensation	21,811,000	18,951,000
Amortization of deferred commissions cost	4,166,000	4,567,000
Impairment of operating lease assets	0	467,000
Changes in operating assets and liabilities:
Trade accounts receivable	34,054,000	(11,384,000)
Operating lease assets and liabilities, net	(153,000)	(520,000)
Other current assets and Other assets	(7,594,000)	7,289,000
Deferred commissions cost	(5,941,000)	(5,646,000)
Accounts payable	(241,000)	(159,000)
Accrued liabilities	(26,067,000)	(7,699,000)
Deferred revenue	669,000	(543,000)
Other liabilities	17,000	2,301,000
Net cash provided by operating activities	37,211,000	15,285,000
Cash flows from investing activities
Proceeds from maturity of short-term investments	0	32,800,000
Purchase of property and equipment	(1,442,000)	(1,643,000)
Net cash provided by (used in) investing activities	(1,442,000)	31,157,000
Cash flows from financing activities
Repurchase of common stock	(90,048,000)	0
Proceeds from stock-based compensation plans	15,435,000	231,000
Net cash provided by (used in) financing activities	(74,613,000)	231,000
Effects of exchange rate — changes in cash	756,000	2,677,000
Net increase (decrease) in cash, cash equivalents and restricted cash	(38,088,000)	49,350,000
Cash, cash equivalents and restricted cash at beginning of period	397,237,000	296,082,000
Cash, cash equivalents and restricted cash at end of period	$ 359,149,000	$ 345,432,000

Basis of Presentation

Basis of Presentation	3 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Commvault Systems, Inc. and its subsidiaries ("Commvault," "we," "us," or "our") is a provider of data protection and information management software applications and products. We develop, market and sell a suite of software applications and services, globally, that provides our customers with data protection solutions. We also provide our customers with a broad range of professional and customer support services. The consolidated financial statements of Commvault as of June 30, 2021 and for the three months ended June 30, 2021 and 2020 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 our Annual Report on Form 10-K for fiscal 2021. 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 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 our consolidated financial statements and the accompanying notes. We base our estimates and judgments on historical experience and on various other assumptions that we believe are reasonable under the circumstances. The amount of assets and liabilities reported in our balance sheets and the amounts of revenues and expenses reported for each of our 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, and goodwill and purchased intangible assets. Actual results could differ from those estimates.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Recently Adopted Accounting Standards Standard Description Effective Date Effect on the Consolidated Financial Statements (or Other Significant Matters) ASU No. 2019-12 (Topic 740), Income Taxes In December 2019, the Financial Accounting Standards Board ("FASB") issued a new standard to simplify the accounting for income taxes. The guidance eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences related to changes in ownership of equity method investments and foreign subsidiaries. The guidance also simplifies aspects of accounting for franchise taxes and enacted changes in tax laws or rates, and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. We adopted this standard as of April 1, 2021. The standard did not have a significant impact on our financial statements. Concentration of Credit Risk We grant credit to customers in a wide variety of industries worldwide and generally do not require collateral. Credit losses relating to these customers have historically been minimal. Sales through our distribution agreement with Arrow Enterprise Computing Solutions, Inc. (“Arrow”) totaled 37% of total revenues for both the three months ended June 30, 2021 and 2020. Arrow accounted for approximately 32% and 33% of total accounts receivable as of June 30, 2021 and March 31, 2021, respectively. Deferred Commissions Cost Sales commissions, bonuses, and related payroll taxes earned by our employees are considered incremental and recoverable costs of obtaining a contract with a customer. Our typical contracts include performance obligations related to software licenses, software updates, customer support and other services, including software-as-a-service offerings. 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. We do not pay commissions on annual renewals of contracts for software updates and customer support for perpetual licenses. The costs allocated to software and products are expensed at the time of sale, when revenue for the functional software license or appliance is typically 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. We currently estimate a period of five years is appropriate based on consideration of historical average customer life and the estimated useful life of the underlying software or appliance sold as part of the transaction. Beginning in fiscal 2022, we modified the terms of our commission plans, and as a result, the commission paid on the renewal of a term-based, or subscription software license, was not commensurate with the commission paid on the initial purchase. As a result, the cost of commissions allocated to software updates and customer support on the initial transaction are now amortized over a period of approximately five years, consistent with the accounting for these costs associated with perpetual licenses. The costs of commissions allocated to software updates and support for the renewal of term-based software licenses, is limited to the contractual period of the arrangement as we intend to pay a commensurate renewal commission upon the next renewal of the subscription license and related updates and support. This change in commission plans also resulted in a change in the estimate of the amortization period of our existing Deferred commissions cost associated with term licenses. This change in amortization period resulted in an approximately $1,100 reduction in fiscal 2022 first quarter Sales and marketing expense (than if the change in estimate did not occur).

Revenue

Revenue	3 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue	RevenueWe derive revenues from two primary sources: software and products, and services. Software and products revenue includes our software and integrated appliances that combine our software with hardware. Services include customer support (software updates and technical support), consulting, assessment and design services, installation services, customer education and Commvault software-as-a-service, which is branded as Metallic. We sell both perpetual and term-based licenses of our software. We refer to our term-based software licenses as subscription arrangements. We do not customize our 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. We have concluded that our software licenses (both perpetual and subscription) are functional intellectual property that is distinct as the user can benefit from the software on its own. Software revenue for both perpetual and subscription licenses 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. We do not recognize software revenue related to the renewal of subscription software licenses earlier than the beginning of the new subscription period. We also sell appliances that integrate our software with hardware and address a wide-range of business needs and use cases, ranging from support for remote or branch offices with limited IT staff up to large corporate data centers. Revenue related to appliances is recognized when control of the appliances passes to the customer; typically upon delivery. In the second half of fiscal 2021 we began transitioning to a software only model in which we sell software to a third party, which assembles an integrated appliance that is sold to end user customers. As a result, we expect the revenue and costs associated with hardware will decline from recent fiscal years. 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. We sell our 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 on our perpetual licenses. The term of our subscription arrangements is typically three years. Our other professional services include consulting, assessment and design services, installation services and customer education. Customer education services include courses taught by our instructors or third-party contractors. Revenue related to other professional services and customer education services is typically recognized as the services are performed. In fiscal 2020 Commvault launched Metallic, which is a Commvault software-as-a-service offering. Revenue from Metallic is recognized ratably as services revenue. Most of our contracts with customers contain multiple performance obligations. For these contracts, we account 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 is 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. Our typical performance obligations include the following: Performance Obligation When Performance Obligation When Payment is How Standalone Selling Price is Software and Products 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 Other Services Revenue 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 Software-as-a-service (Metallic) Ratably over the course of the contract (over time) Annual or monthly payments Observable in transactions without multiple performance obligations Disaggregation of Revenue We disaggregate 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 APJ (Australia, New Zealand, Southeast Asia, China). We operate in one segment. Three Months Ended June 30, 2021 Americas EMEA APJ Total Software and Products Revenue $ 51,787 $ 21,341 $ 9,034 $ 82,162 Customer Support Revenue 51,874 26,774 10,321 88,969 Other Services Revenue 7,310 3,428 1,552 12,290 Total Revenue $ 110,971 $ 51,543 $ 20,907 $ 183,421 Three Months Ended June 30, 2020 Americas EMEA APJ Total Software and Products Revenue $ 50,645 $ 18,795 $ 7,114 $ 76,554 Customer Support Revenue 55,238 23,310 10,095 88,643 Other Services Revenue 4,113 2,555 1,135 7,803 Total Revenue $ 109,996 $ 44,660 $ 18,344 $ 173,000 Information about Contract Balances Amounts collected in advance of services being provided are accounted for as Deferred revenue. Nearly all of our Deferred revenue balance is related to services revenue, primarily customer support contracts. In some arrangements we allow customers to pay for term-based software licenses and products over the term of the software license. 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 Sheets. Long-term unbilled receivables are included in Other assets. The opening and closing balances of our Accounts receivable, Unbilled receivables, and Deferred revenues are as follows: Accounts Receivable Unbilled Receivable Unbilled Receivable Deferred Revenue (current) Deferred Revenue (long-term) Opening Balance as of March 31, 2021 $ 168,985 $ 19,141 $ 7,463 $ 253,211 $ 119,231 Increase (decrease), net (30,078) 814 (2,429) (468) 1,684 Ending Balance as of June 30, 2021 $ 138,907 $ 19,955 $ 5,034 $ 252,743 $ 120,915 The decrease in Accounts receivable (inclusive of Unbilled receivables) is a result of a decrease in software and products revenue relative to the fourth quarter of the prior fiscal year. The increase in Deferred revenue is primarily the result of an increase in deferred revenue associated with Metallic contracts that are billed upfront and recognized ratably over the contract period partially offset by a decline in deferred revenue associated with customer support contracts. The amount of revenue recognized in the period that was included in the March 31, 2021 balance of deferred revenue was $90,809 for the three months ended June 30, 2021. The vast majority of this revenue consists of customer support arrangements. The amount of software and products revenue recognized in the three months ended June 30, 2021 related to performance obligations from prior periods was not significant. Remaining Performance Obligations In addition to the amounts included in deferred revenue as of June 30, 2021, $37,615 of revenue may be recognized from remaining performance obligations, of which approximately $4,100 was related to software and products. We expect the majority of this software and products revenue to be recognized during fiscal 2022. The vast 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.

Net Income per Common Share

Net Income per Common Share	3 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Net Income per Common Share	Net Income per Common Share Three Months Ended June 30, 2021 2020 Net income $ 13,897 $ 2,283 Basic net income per common share: Basic weighted average shares outstanding 46,180 46,191 Basic net income per common share $ 0.30 $ 0.05 Diluted net income per common share: Basic weighted average shares outstanding 46,180 46,191 Dilutive effect of stock options and restricted stock units 1,987 312 Diluted weighted average shares outstanding 48,167 46,503 Diluted net income per common share $ 0.29 $ 0.05 The diluted weighted-average shares outstanding exclude outstanding stock options, restricted stock units, performance restricted stock units and shares to be purchased under the employee stock purchase plan totaling 616 and 3,166 for the three months ended June 30, 2021 and 2020, respectively, because the effect would have been anti-dilutive.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies From time to time, we are subject to claims in legal proceedings arising in the normal course of business. On February 9, 2021, Rubrik, Inc. filed a patent-infringement lawsuit against Commvault Systems, Inc. in the United States District Court for the Western District of Texas – Waco Division. Rubrik asserts U.S. Patents 11,016,761, 10,852,998, 10,133,495, and 9,075,773. Due to the inherent uncertainties of litigation, we cannot accurately predict the ultimate timing or outcome of this matter. We are unable at this time to determine whether the outcome of the litigation will have a material impact on our results of operations, financial condition, or cash flows. We believe that Rubrik’s claims are without merit, and we intend to vigorously contest them. We do not believe that we are currently party to any other pending legal action that could reasonably be expected to have a material adverse effect on our business or operating results.

Capitalization

Capitalization	3 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Capitalization	CapitalizationDuring the three months ended June 30, 2021, we repurchased $90,048 of common stock (1,249 shares). There were no repurchases of common stock during the first quarter of fiscal year 2021. Our stock repurchase program has been funded by our existing cash and cash equivalent balances as well as cash flows provided by our operations. Our Board has approved, and we intend to execute, a capital allocation policy that provides for the repurchase of $200,000 of our common stock for the period from February 1, 2021 through the end of our 2022 fiscal year, plus the use of approximately 75% of our fiscal 2022 free cash flow for additional repurchases during fiscal year 2022. From the period beginning February 1, 2021 through June 30, 2021 we have repurchased $152,175 of our common stock.

Stock Plans

Stock Plans	3 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock Plans	Stock Plans The following table presents the stock-based compensation expense included in Cost of services revenue, Sales and marketing, Research and development, General and administrative expenses and Restructuring expenses for the three months ended June 30, 2021 and 2020. Stock-based compensation is attributable to stock options, restricted stock units, performance based awards and the employee stock purchase plan. Three Months Ended June 30, 2021 2020 Cost of services revenue $ 1,185 $ 666 Sales and marketing 7,308 7,204 Research and development 7,185 5,941 General and administrative 6,011 5,083 Restructuring 122 57 Stock-based compensation expense $ 21,811 $ 18,951 As of June 30, 2021, there was $137,596 of unrecognized stock-based compensation expense related to restricted stock unit awards that is expected to be recognized over a weighted-average period of 1.83 years. We account for forfeitures as they occur. To the extent that awards are forfeited, stock-based compensation will be different from our current estimate. Stock Options Stock option activity for the three months ended June 30, 2021 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, 2021 1,357 $ 62.06 Options granted — — Options exercised (337) 45.87 Options forfeited — — Options expired (1) 81.21 Outstanding as of June 30, 2021 1,019 67.38 2.17 $ 14,645 Exercisable as of June 30, 2021 1,019 67.38 2.17 $ 14,645 The total intrinsic value of options exercised was $10,835 for the three months ended June 30, 2021 and $115 for the three months ended June 30, 2020. Restricted Stock Units Restricted stock unit activity for the three months ended June 30, 2021 is as follows: Non-vested Restricted Stock Units Number of Weighted- Non-vested as of March 31, 2021 3,451 $ 44.90 Awarded 585 73.66 Vested (496) 43.86 Forfeited (124) 47.77 Non-vested as of June 30, 2021 3,416 $ 49.87 The weighted-average fair value of restricted stock units awarded was $73.66 per unit during the three months ended June 30, 2021, $36.62 per unit during the three months ended June 30, 2020. The weighted-average fair value of awards includes the awards with a market condition described below. Performance Based Awards In the three months ended June 30, 2021, we granted 117 performance restricted stock units ("PSUs") to certain executives. Vesting of these awards is contingent upon i) us meeting certain revenue and non-GAAP performance goals (performance-based) in fiscal 2022 and ii) our customary service periods. The awards vest over three years. These awards generally have potential to vest at 200% based on actual fiscal 2022 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 PSUs 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 three months ended June 30, 2021, we granted 105 market performance stock units to certain executives. The vesting of these awards is contingent upon us meeting certain total shareholder return ("TSR") levels as compared to the Russell 3000 market index over the next three years. The awards vest in three annual tranches and have a maximum potential to vest at 200% (210 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 three months ended June 30, 2021 was $87.74 per unit. The awards are included in the restricted stock unit table.

Income Taxes

Income Taxes	3 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesIncome tax expense was $1,731 in the three months ended June 30, 2021 compared to expense of $4,743 in the three months ended June 30, 2020. Current quarter income tax expense relates primarily to current foreign taxes. In fiscal 2018, we determined that it was more likely than not that we will not realize the benefits of our gross deferred tax assets and therefore recorded a valuation allowance to reduce the carrying value of these gross deferred tax assets, net of the impact of the reversal of taxable temporary differences, to zero. Our position remains unchanged with respect to the realizability of our deferred tax assets as of June 30, 2021.

Restructuring

Restructuring	3 Months Ended
	Jun. 30, 2021
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring Our restructuring plan, initiated in the first quarter of fiscal 2019, is aimed to increase efficiency in our sales, marketing and distribution functions as well as reduce costs across all functional areas. These restructuring charges relate primarily to severance and related costs associated with headcount reductions, stock-based compensation related to modifications of existing unvested awards granted to certain employees impacted by the restructuring plan and lease abandonment charges. For the three months ended June 30, 2021 and 2020, restructuring charges were comprised of the following: Three Months Ended June 30, 2021 2020 Employee severance and related costs $ 1,324 $ 1,800 Lease impairments and related costs (1) — 467 Stock-based compensation 122 57 Total restructuring charges $ 1,446 $ 2,324 (1) Lease impairment charges for the three months ended June 30, 2020 relate to two offices. There were no lease impairment charges for the three months ended June 30, 2021. Restructuring accruals The activity in our restructuring accruals for the three months ended June 30, 2021 is as follows: Total Balance as of March 31, 2021 $ 3,095 Employee severance and related costs 1,324 Payments (2,602) Balance as of June 30, 2021 $ 1,817

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	The consolidated financial statements of Commvault as of June 30, 2021 and for the three months ended June 30, 2021 and 2020 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 our Annual Report on Form 10-K for fiscal 2021. 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.
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 our consolidated financial statements and the accompanying notes. We base our estimates and judgments on historical experience and on various other assumptions that we believe are reasonable under the circumstances. The amount of assets and liabilities reported in our balance sheets and the amounts of revenues and expenses reported for each of our 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, and goodwill and purchased intangible assets. Actual results could differ from those estimates.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards Standard Description Effective Date Effect on the Consolidated Financial Statements (or Other Significant Matters) ASU No. 2019-12 (Topic 740), Income Taxes In December 2019, the Financial Accounting Standards Board ("FASB") issued a new standard to simplify the accounting for income taxes. The guidance eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences related to changes in ownership of equity method investments and foreign subsidiaries. The guidance also simplifies aspects of accounting for franchise taxes and enacted changes in tax laws or rates, and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. We adopted this standard as of April 1, 2021. The standard did not have a significant impact on our financial statements.
Concentration of Credit Risk	We grant credit to customers in a wide variety of industries worldwide and generally do not require collateral. Credit losses relating to these customers have historically been minimal.
Deferred Commissions Cost	Deferred Commissions Cost Sales commissions, bonuses, and related payroll taxes earned by our employees are considered incremental and recoverable costs of obtaining a contract with a customer. Our typical contracts include performance obligations related to software licenses, software updates, customer support and other services, including software-as-a-service offerings. 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. We do not pay commissions on annual renewals of contracts for software updates and customer support for perpetual licenses. The costs allocated to software and products are expensed at the time of sale, when revenue for the functional software license or appliance is typically 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. We currently estimate a period of five years is appropriate based on consideration of historical average customer life and the estimated useful life of the underlying software or appliance sold as part of the transaction. Beginning in fiscal 2022, we modified the terms of our commission plans, and as a result, the commission paid on the renewal of a term-based, or subscription software license, was not commensurate with the commission paid on the initial purchase. As a result, the cost of commissions allocated to software updates and customer support on the initial transaction are now amortized over a period of approximately five years, consistent with the accounting for these costs associated with perpetual licenses. The costs of commissions allocated to software updates and support for the renewal of term-based software licenses, is limited to the contractual period of the arrangement as we intend to pay a commensurate renewal commission upon the next renewal of the subscription license and related updates and support. This change in commission plans also resulted in a change in the estimate of the amortization period of our existing Deferred commissions cost associated with term licenses. This change in amortization period resulted in an approximately $1,100 reduction in fiscal 2022 first quarter Sales and marketing expense (than if the change in estimate did not occur).
Revenue	We derive revenues from two primary sources: software and products, and services. Software and products revenue includes our software and integrated appliances that combine our software with hardware. Services include customer support (software updates and technical support), consulting, assessment and design services, installation services, customer education and Commvault software-as-a-service, which is branded as Metallic. We sell both perpetual and term-based licenses of our software. We refer to our term-based software licenses as subscription arrangements. We do not customize our 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. We have concluded that our software licenses (both perpetual and subscription) are functional intellectual property that is distinct as the user can benefit from the software on its own. Software revenue for both perpetual and subscription licenses 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. We do not recognize software revenue related to the renewal of subscription software licenses earlier than the beginning of the new subscription period. We also sell appliances that integrate our software with hardware and address a wide-range of business needs and use cases, ranging from support for remote or branch offices with limited IT staff up to large corporate data centers. Revenue related to appliances is recognized when control of the appliances passes to the customer; typically upon delivery. In the second half of fiscal 2021 we began transitioning to a software only model in which we sell software to a third party, which assembles an integrated appliance that is sold to end user customers. As a result, we expect the revenue and costs associated with hardware will decline from recent fiscal years. 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. We sell our 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 on our perpetual licenses. The term of our subscription arrangements is typically three years. Our other professional services include consulting, assessment and design services, installation services and customer education. Customer education services include courses taught by our instructors or third-party contractors. Revenue related to other professional services and customer education services is typically recognized as the services are performed. In fiscal 2020 Commvault launched Metallic, which is a Commvault software-as-a-service offering. Revenue from Metallic is recognized ratably as services revenue.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards Standard Description Effective Date Effect on the Consolidated Financial Statements (or Other Significant Matters) ASU No. 2019-12 (Topic 740), Income Taxes In December 2019, the Financial Accounting Standards Board ("FASB") issued a new standard to simplify the accounting for income taxes. The guidance eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences related to changes in ownership of equity method investments and foreign subsidiaries. The guidance also simplifies aspects of accounting for franchise taxes and enacted changes in tax laws or rates, and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. We adopted this standard as of April 1, 2021. The standard did not have a significant impact on our financial statements.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction	Our typical performance obligations include the following: Performance Obligation When Performance Obligation When Payment is How Standalone Selling Price is Software and Products 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 Other Services Revenue 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 Software-as-a-service (Metallic) Ratably over the course of the contract (over time) Annual or monthly payments Observable in transactions without multiple performance obligations
Schedule of Disaggregation of Revenue	Three Months Ended June 30, 2021 Americas EMEA APJ Total Software and Products Revenue $ 51,787 $ 21,341 $ 9,034 $ 82,162 Customer Support Revenue 51,874 26,774 10,321 88,969 Other Services Revenue 7,310 3,428 1,552 12,290 Total Revenue $ 110,971 $ 51,543 $ 20,907 $ 183,421 Three Months Ended June 30, 2020 Americas EMEA APJ Total Software and Products Revenue $ 50,645 $ 18,795 $ 7,114 $ 76,554 Customer Support Revenue 55,238 23,310 10,095 88,643 Other Services Revenue 4,113 2,555 1,135 7,803 Total Revenue $ 109,996 $ 44,660 $ 18,344 $ 173,000
Schedule of Contract with Customer, Asset and Liability	The opening and closing balances of our Accounts receivable, Unbilled receivables, and Deferred revenues are as follows: Accounts Receivable Unbilled Receivable Unbilled Receivable Deferred Revenue (current) Deferred Revenue (long-term) Opening Balance as of March 31, 2021 $ 168,985 $ 19,141 $ 7,463 $ 253,211 $ 119,231 Increase (decrease), net (30,078) 814 (2,429) (468) 1,684 Ending Balance as of June 30, 2021 $ 138,907 $ 19,955 $ 5,034 $ 252,743 $ 120,915

Net Income per Common Share (Ta

Net Income per Common Share (Tables)	3 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Three Months Ended June 30, 2021 2020 Net income $ 13,897 $ 2,283 Basic net income per common share: Basic weighted average shares outstanding 46,180 46,191 Basic net income per common share $ 0.30 $ 0.05 Diluted net income per common share: Basic weighted average shares outstanding 46,180 46,191 Dilutive effect of stock options and restricted stock units 1,987 312 Diluted weighted average shares outstanding 48,167 46,503 Diluted net income per common share $ 0.29 $ 0.05

Stock Plans (Tables)

Stock Plans (Tables)	3 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Schedule of 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, General and administrative expenses and Restructuring expenses for the three months ended June 30, 2021 and 2020. Stock-based compensation is attributable to stock options, restricted stock units, performance based awards and the employee stock purchase plan. Three Months Ended June 30, 2021 2020 Cost of services revenue $ 1,185 $ 666 Sales and marketing 7,308 7,204 Research and development 7,185 5,941 General and administrative 6,011 5,083 Restructuring 122 57 Stock-based compensation expense $ 21,811 $ 18,951
Schedule of stock option activity	Stock option activity for the three months ended June 30, 2021 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, 2021 1,357 $ 62.06 Options granted — — Options exercised (337) 45.87 Options forfeited — — Options expired (1) 81.21 Outstanding as of June 30, 2021 1,019 67.38 2.17 $ 14,645 Exercisable as of June 30, 2021 1,019 67.38 2.17 $ 14,645
Schedule of Restricted Stock Unit Activity	Restricted stock unit activity for the three months ended June 30, 2021 is as follows: Non-vested Restricted Stock Units Number of Weighted- Non-vested as of March 31, 2021 3,451 $ 44.90 Awarded 585 73.66 Vested (496) 43.86 Forfeited (124) 47.77 Non-vested as of June 30, 2021 3,416 $ 49.87

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Jun. 30, 2021
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Accruals	For the three months ended June 30, 2021 and 2020, restructuring charges were comprised of the following: Three Months Ended June 30, 2021 2020 Employee severance and related costs $ 1,324 $ 1,800 Lease impairments and related costs (1) — 467 Stock-based compensation 122 57 Total restructuring charges $ 1,446 $ 2,324 (1) Lease impairment charges for the three months ended June 30, 2020 relate to two offices. There were no lease impairment charges for the three months ended June 30, 2021.
Schedule of Activity in Restructuring Accruals	The activity in our restructuring accruals for the three months ended June 30, 2021 is as follows: Total Balance as of March 31, 2021 $ 3,095 Employee severance and related costs 1,324 Payments (2,602) Balance as of June 30, 2021 $ 1,817

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Concentration of Credit Risk (Details) - Customer Concentration Risk - Arrow	3 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021
Revenue
Concentration Risk [Line Items]
Concentration risk percentage	37.00%	37.00%
Accounts receivable
Concentration Risk [Line Items]
Concentration risk percentage	32.00%		33.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Deferred Commissions Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Accounting Policies [Abstract]
Software updates and customer support costs amortization period	5 years
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Reduction of sales and marketing expense	$ (76,361)	$ (81,676)
Commission Plans Modification
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Reduction of sales and marketing expense	$ 1,100

Revenue - Additional Informatio

Revenue - Additional Information (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2021USD ($)sourcesegment
Revenue from Contract with Customer [Abstract]
Sources of primary revenue | source	2
Customer support agreement term	1 year
Subscription arrangement term	3 years
Number of operating segments | segment	1
Revenue recognized in period, included in opening deferred revenue balance	$ 90,809
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized from remaining performance obligations	37,615
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01 | Software and products
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized from remaining performance obligations	$ 4,100
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01 | Other Professional Services (except for education services)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months

Revenue - Performance Obligatio

Revenue - Performance Obligations (Details)	3 Months Ended
	Jun. 30, 2021
Software Licenses
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, expected payment terms	90 days
Other Professional Services (except for education services)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, expected payment terms	90 days
Education Services
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, expected payment terms	90 days

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Total Revenue	$ 183,421	$ 173,000
Americas
Disaggregation of Revenue [Line Items]
Total Revenue	110,971	109,996
EMEA
Disaggregation of Revenue [Line Items]
Total Revenue	51,543	44,660
APJ
Disaggregation of Revenue [Line Items]
Total Revenue	20,907	18,344
Software and products
Disaggregation of Revenue [Line Items]
Total Revenue	82,162	76,554
Software and products | Americas
Disaggregation of Revenue [Line Items]
Total Revenue	51,787	50,645
Software and products | EMEA
Disaggregation of Revenue [Line Items]
Total Revenue	21,341	18,795
Software and products | APJ
Disaggregation of Revenue [Line Items]
Total Revenue	9,034	7,114
Customer Support Revenue
Disaggregation of Revenue [Line Items]
Total Revenue	88,969	88,643
Customer Support Revenue | Americas
Disaggregation of Revenue [Line Items]
Total Revenue	51,874	55,238
Customer Support Revenue | EMEA
Disaggregation of Revenue [Line Items]
Total Revenue	26,774	23,310
Customer Support Revenue | APJ
Disaggregation of Revenue [Line Items]
Total Revenue	10,321	10,095
Other Services Revenue
Disaggregation of Revenue [Line Items]
Total Revenue	12,290	7,803
Other Services Revenue | Americas
Disaggregation of Revenue [Line Items]
Total Revenue	7,310	4,113
Other Services Revenue | EMEA
Disaggregation of Revenue [Line Items]
Total Revenue	3,428	2,555
Other Services Revenue | APJ
Disaggregation of Revenue [Line Items]
Total Revenue	$ 1,552	$ 1,135

Revenue - Opening and Closing B

Revenue - Opening and Closing Balances of Accounts Receivables, Unbilled Receivables, and Deferred Revenues (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2021USD ($)
Accounts Receivable [Roll Forward]
Opening Balance	$ 168,985
Increase (decrease), net	(30,078)
Ending Balance	138,907
Contract With Customer, Liability, Current [Roll Forward]
Opening Balance	253,211
Contract With Customer, Liability, Noncurrent [Roll Forward]
Opening Balance	119,231
Unbilled Receivable (current)
Unbilled Receivable (current) [Roll Forward]
Opening Balance	19,141
Increase (decrease), net	814
Ending Balance	19,955
Unbilled Receivable (long-term)
Unbilled Receivable (long-term) [Roll Forward]
Opening Balance	7,463
Increase (decrease), net	(2,429)
Ending Balance	5,034
Deferred Revenue (current)
Contract With Customer, Liability, Current [Roll Forward]
Opening Balance	253,211
Increase (decrease), net	(468)
Ending Balance	252,743
Deferred Revenue (long-term)
Contract With Customer, Liability, Noncurrent [Roll Forward]
Opening Balance	119,231
Increase (decrease), net	1,684
Ending Balance	$ 120,915

Net Income per Common Share - C

Net Income per Common Share - Computation of Basic and Diluted Net Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Net income	$ 13,897	$ 2,283
Basic net income per common share:
Basic weighted average shares outstanding (in shares)	46,180	46,191
Basic net income (loss) per common share (in dollars per share)	$ 0.30	$ 0.05
Diluted net income per common share:
Basic weighted average shares outstanding (in shares)	46,180	46,191
Dilutive effect of stock options and restricted stock units (in shares)	1,987	312
Diluted weighted average shares outstanding (in shares)	48,167	46,503
Diluted net income (loss) per common share (in dollars per share)	$ 0.29	$ 0.05

Net Income per Common Share - A

Net Income per Common Share - Additional Information (Details) - shares shares in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation (in shares)	616	3,166

Capitalization (Details)

Capitalization (Details) - USD ($)	3 Months Ended		5 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021
Equity [Abstract]
Amount of common stock repurchased	$ 90,048,000		$ 152,175,000
Number of shares repurchased (in shares)	1,249,000	0
Share repurchase program, authorized amount	$ 200,000		$ 200,000
Percentage of free cash flow used for additional stock repurchases	75.00%		75.00%
Repurchase of common stock	$ 90,048,000		$ 152,175,000

Stock Plans - Stock-Based Compe

Stock Plans - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 21,811	$ 18,951
Cost of services revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	1,185	666
Sales and marketing
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	7,308	7,204
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	7,185	5,941
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	6,011	5,083
Restructuring
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 122	$ 57

Stock Plans - Additional Inform

Stock Plans - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of options exercised	$ 10,835	$ 115
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense, net of estimated forfeitures	$ 137,596
Weighted average period awards are expected to be recognized	1 year 9 months 29 days
Weighted-average fair value, units awarded (in dollars per share)	$ 73.66	$ 36.62

Stock Plans - Stock Option Acti

Stock Plans - Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2021USD ($)$ / sharesshares
Number of Options
Outstanding beginning balance (in shares) | shares	1,357
Options granted (in shares) | shares	0
Options exercised (in shares) | shares	(337)
Options forfeited (in shares) | shares	0
Options expired (in shares) | shares	(1)
Outstanding ending balance (in shares) | shares	1,019
Exercisable at current period end (in shares) | shares	1,019
Weighted-Average Exercise Price
Weighted-Average Exercise Price, Outstanding beginning balance (in dollars per share) | $ / shares	$ 62.06
Weighted-Average Exercise Price, Options granted (in dollars per share) | $ / shares	0
Weighted-Average Exercise Price, Options exercised (in dollars per share) | $ / shares	45.87
Weighted-Average Exercise Price, Options forfeited (in dollars per share) | $ / shares	0
Weighted-Average Exercise Price, Options expired (in dollars per share) | $ / shares	81.21
Weighted-Average Exercise Price, Outstanding ending balance (in dollars per share) | $ / shares	67.38
Weighted-Average Exercise Price, Exercisable at current period-end (in dollars per share) | $ / shares	$ 67.38
Weighted-Average Remaining Contractual Term (Years)
Weighted-average remaining contractual term, outstanding at current period-end	2 years 2 months 1 day
Weighted-average remaining contractual term, exercisable at current period-end	2 years 2 months 1 day
Aggregate Intrinsic Value
Aggregate intrinsic value, outstanding at current period-end | $	$ 14,645
Aggregate intrinsic value, exercisable at current period-end | $	$ 14,645

Stock Plans - Restricted Stock

Stock Plans - Restricted Stock Units (Details) - Restricted stock units - $ / shares shares in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Number of Awards
Number of Awards, Non-vested beginning balance (in shares)	3,451
Number of Awards, Granted (in shares)	585
Number of Awards, Vested (in shares)	(496)
Number of Awards, Forfeited (in shares)	(124)
Number of Awards, Non-vested ending balance (in shares)	3,416
Weighted- Average Grant Date Fair Value
Weighted Average grant Date Fair Value, Non-vested beginning balance (in dollars per share)	$ 44.90
Weighted Average grant Date Fair Value, Granted (in dollars per share)	73.66	$ 36.62
Weighted Average grant Date Fair Value, Vested (in dollars per share)	43.86
Weighted Average grant Date Fair Value, Forfeited (in dollars per share)	47.77
Weighted Average grant Date Fair Value, Non-vested ending balance (in dollars per share)	$ 49.87

Stock Plans - Performance Based

Stock Plans - Performance Based Awards (Details) - PSU shares in Thousands	3 Months Ended
	Jun. 30, 2021shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards, granted (in shares)	117
Service period	3 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards potential to vest, percentage	200.00%

Stock Plans - Awards with a Mar

Stock Plans - Awards with a Market Condition (Details) - Market performance shares shares in Thousands	3 Months Ended
	Jun. 30, 2021tranche$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards, granted (in shares)	105
Service period	3 years
Number of annual tranches | tranche	3
Weighted-average fair value, units awarded (in dollars per share) | $ / shares	$ 87.74
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards potential to vest, percentage	200.00%
Awards potential to vest (in shares)	210

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 1,731,000	$ 4,743,000
Deferred tax assets			$ 0

Restructuring - Restructuring C

Restructuring - Restructuring Charges (Details)	3 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)office
Restructuring and Related Activities [Abstract]
Employee severance and related costs	$ 1,324,000	$ 1,800,000
Lease impairments and related costs	0	467,000
Stock-based compensation	122,000	57,000
Total restructuring charges	$ 1,446,000	$ 2,324,000
Number of office related to lease impairment | office		2

Restructuring - Activity in Res

Restructuring - Activity in Restructuring Accruals (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Restructuring Reserve [Roll Forward]
Beginning balance	$ 3,095
Employee severance and related costs	1,324	$ 1,800
Payments	(2,602)
Ending balance	$ 1,817

Uncategorized Items - cvlt-2021

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-13 [Member]