Commvault Systems (CVLT) 10-K 5 May 23 2023 FY Annual report Financial data

Cover page

Cover page - USD ($) $ in Billions	12 Months Ended
	Mar. 31, 2023	May 03, 2023	Sep. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Mar. 31, 2023
Current Fiscal Year End Date	--03-31
Document Transition Report	false
Entity File Number	1-33026
Entity Registrant Name	COMMVAULT SYSTEMS INC
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, $0.01 par value
Trading Symbol	CVLT
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 2.3
Entity Common Stock, Shares Outstanding		43,973,836
Documents Incorporated by Reference	Information required by Part III (Items 10, 11, 12, 13 and 14) is incorporated by reference to portions of the registrant’s definitive Proxy Statement for its 2023 Annual Meeting of Stockholders (the “Proxy Statement”), which is expected to be filed not later than 120 days after the registrant’s fiscal year ended March 31, 2023. Except as expressly incorporated by reference, the Proxy Statement shall not be deemed to be part of this report on Form 10-K.
Entity Central Index Key	0001169561
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Mar. 31, 2023
Audit Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Iselin, New Jersey
Auditor Firm ID	42

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Current assets:
Cash and cash equivalents	$ 287,778	$ 267,507
Trade accounts receivable, net	210,441	194,238
Assets held for sale	38,680	0
Other current assets	14,015	22,336
Total current assets	550,914	484,081
Property and equipment, net	8,287	106,513
Operating lease assets	11,784	14,921
Deferred commissions cost	59,612	52,974
Intangible assets, net	2,292	3,542
Goodwill	127,780	127,780
Other assets	21,905	26,269
Total assets	782,574	816,080
Current liabilities:
Accounts payable	108	432
Accrued liabilities	97,888	121,837
Current portion of operating lease liabilities	4,518	4,778
Deferred revenue	307,562	267,017
Total current liabilities	410,076	394,064
Deferred revenue, less current portion	174,393	150,180
Deferred tax liabilities, net	134	808
Long-term operating lease liabilities	8,260	11,270
Other liabilities	3,613	3,929
Commitments and contingencies (Note 9)
Stockholders’ equity:
Preferred stock, $0.01 par value: 50,000 shares authorized, no shares issued and outstanding	0	0
Common stock, $0.01 par value, 250,000 shares authorized, 44,140 shares and 44,511 shares issued and outstanding at March 31, 2023 and 2022, respectively	440	443
Additional paid-in capital	1,264,608	1,165,948
Accumulated deficit	(1,062,900)	(898,699)
Accumulated other comprehensive loss	(16,050)	(11,863)
Total stockholders’ equity	186,098	255,829
Total liabilities and stockholders’ equity	$ 782,574	$ 816,080

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Mar. 31, 2022
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)	44,140,000	44,511,000
Common stock, shares outstanding (in shares)	44,140,000	44,511,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Total revenues	$ 784,590	$ 769,591	$ 723,472
Cost of revenues:
Total cost of revenues	135,402	113,859	109,373
Gross margin	649,188	655,732	614,099
Operating expenses:
Sales and marketing	340,783	341,644	331,948
Research and development	141,847	153,615	133,401
General and administrative	104,240	103,049	92,214
Restructuring	15,452	6,192	23,471
Depreciation and amortization	9,270	9,666	14,628
Impairment charges	53,481	0	40,700
Total operating expenses	665,073	614,166	636,362
Income (loss) from operations	(15,885)	41,566	(22,263)
Interest income	1,300	656	1,028
Interest expense	(472)	(109)	0
Other income (loss), net	(305)	1,301	0
Income (loss) before income taxes	(15,362)	43,414	(21,235)
Income tax expense	20,412	9,790	9,719
Net income (loss)	$ (35,774)	$ 33,624	$ (30,954)
Earnings Per Share [Abstract]
Basic (in dollars per share)	$ (0.80)	$ 0.74	$ (0.66)
Diluted (in dollars per share)	$ (0.80)	$ 0.71	$ (0.66)
Weighted average common shares outstanding:
Basic (in shares)	44,664	45,443	46,652
Diluted (in shares)	44,664	47,220	46,652
Software and products
Revenue from Contract with Customer [Abstract]
Total revenues	$ 355,082	$ 356,487	$ 326,843
Cost of revenues:
Total cost of revenues	14,684	14,057	27,218
Services
Revenue from Contract with Customer [Abstract]
Total revenues	429,508	413,104	396,629
Cost of revenues:
Total cost of revenues	$ 120,718	$ 99,802	$ 82,155

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (35,774)	$ 33,624	$ (30,954)
Other comprehensive income (loss):
Foreign currency translation adjustment	(4,187)	(1,513)	3,073
Comprehensive income (loss)	$ (39,961)	$ 32,111	$ (27,881)

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 Deficit Cumulative 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	84,833			84,833
Share issuance related to stock-based compensation (in shares)			2,115,000
Share issuance related to stock-based compensation	20,521		$ 21	20,500
Repurchase of common stock (in shares)			(1,644,000)
Repurchase of common stock	(95,259)		$ (16)	(14,297)	(80,946)
Net income (loss)	(30,954)				(30,954)
Other comprehensive income (loss)	3,073						3,073
Ending Balance (in shares) at Mar. 31, 2021			46,482,000
Ending 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	105,163			105,163
Share issuance related to stock-based compensation (in shares)			2,336,000
Share issuance related to stock-based compensation	29,760		$ 23	29,737
Repurchase of common stock (in shares)			(4,307,000)
Repurchase of common stock	(305,239)		$ (43)	(38,647)	(266,549)
Net income (loss)	33,624				33,624
Other comprehensive income (loss)	(1,513)						(1,513)
Ending Balance (in shares) at Mar. 31, 2022			44,511,000
Ending Balance at Mar. 31, 2022	255,829		$ 443	1,165,948	(898,699)		(11,863)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	105,746			105,746
Share issuance related to stock-based compensation (in shares)			2,150,000
Share issuance related to stock-based compensation	$ 15,405		$ 22	15,383
Repurchase of common stock (in shares)	(2,521,000)		(2,521,000)
Repurchase of common stock	$ (150,921)		$ (25)	(22,469)	(128,427)
Net income (loss)	(35,774)				(35,774)
Other comprehensive income (loss)	(4,187)						(4,187)
Ending Balance (in shares) at Mar. 31, 2023			44,140,000
Ending Balance at Mar. 31, 2023	$ 186,098		$ 440	$ 1,264,608	$ (1,062,900)		$ (16,050)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities
Net income (loss)	$ (35,774,000)	$ 33,624,000	$ (30,954,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	10,323,000	10,950,000	15,878,000
Noncash stock-based compensation	105,746,000	105,163,000	84,833,000
Noncash change in fair value of equity securities	305,000	(301,000)	0
Noncash impairment charges	53,481,000	0	40,700,000
Deferred income taxes	(674,000)	49,000	(92,000)
Amortization of deferred commissions cost	22,626,000	18,339,000	18,318,000
Impairment of operating lease assets	0	0	1,684,000
Changes in operating assets and liabilities:
Trade accounts receivable	(11,596,000)	(20,371,000)	(34,622,000)
Operating lease assets and liabilities, net	(56,000)	(925,000)	(1,157,000)
Other current assets and Other assets	6,179,000	3,732,000	11,887,000
Deferred commissions cost	(30,529,000)	(33,512,000)	(24,095,000)
Accounts payable	(297,000)	60,000	49,000
Accrued liabilities	(24,213,000)	10,400,000	10,660,000
Deferred revenue	73,756,000	48,295,000	31,740,000
Other liabilities	1,011,000	1,677,000	(874,000)
Net cash provided by operating activities	170,288,000	177,180,000	123,955,000
Cash flows from investing activities
Proceeds from maturity of short-term investments	0	0	43,645,000
Purchase of property and equipment	(3,241,000)	(3,911,000)	(8,176,000)
Purchase of equity securities	(2,045,000)	(4,139,000)	0
Business combination, net of cash acquired	0	(16,894,000)	0
Other	0	500,000	0
Net cash provided by (used in) investing activities	(5,286,000)	(24,444,000)	35,469,000
Cash flows from financing activities
Repurchase of common stock	(150,921,000)	(305,239,000)	(95,259,000)
Proceeds from stock-based compensation plans	15,405,000	29,760,000	20,521,000
Debt issuance costs	(63,000)	(609,000)	0
Net cash used in financing activities	(135,579,000)	(276,088,000)	(74,738,000)
Effects of exchange rate — changes in cash	(9,152,000)	(6,378,000)	16,469,000
Net increase (decrease) in cash and cash equivalents	20,271,000	(129,730,000)	101,155,000
Cash and cash equivalents at beginning of year	267,507,000	397,237,000	296,082,000
Cash and cash equivalents at end of year	287,778,000	267,507,000	397,237,000
Supplemental disclosures of cash flow information
Interest paid	253,000	13,000	0
Income taxes paid	$ 15,175,000	$ (1,493,000)	$ 2,959,000

Nature of Business

Nature of Business	12 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	Nature of BusinessCommvault Systems, Inc. ("Commvault," "we," "us," or "our") provides its customers with a data protection platform that helps them secure, defend and recover their data. We provide these products and services: on-premises, hybrid, or multi-cloud. Our data protection offerings are delivered via self-managed software, software-as-a-service (SaaS), integrated appliance, or managed by partners.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The consolidated financial statements include the accounts of Commvault. All intercompany transactions and balances have been eliminated in consolidation. Use of Estimates The preparation of financial statements and related disclosures in conformity with U.S. generally accepted accounting principles ("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 amounts of assets and liabilities reported in our balance sheets and the amounts of revenues and expenses reported for each of the 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, deferred commissions, purchased intangible assets and goodwill. Actual results could differ from those estimates. Revenue We account for revenue in accordance with Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers ("ASC 606"). We record revenue net of sales tax. For a further discussion of our accounting policies related to revenue, see Note 3 of the notes to the consolidated financial statements. Accounting for Stock-Based Compensation Restricted stock units without a market condition are measured based on the fair market values of the underlying stock on the date of grant. We recognize stock-based compensation expense using the straight-line method for all stock awards that do not include a market or performance condition. Awards that include a market or performance condition are expensed using the accelerated method. Software Development Costs The costs for the development of new products and substantial enhancements to existing products are expensed as incurred until technological feasibility has been established, at which time any additional costs would be capitalized in accordance with the accounting guidance for software. Because our current process for developing software is essentially completed concurrently with the establishment of technological feasibility, which occurs upon the completion of a working model, no costs have been capitalized for any of the periods presented. Advertising Costs We expense advertising costs as incurred. Advertising expenses were $8,663, $9,572, and $9,560 for the years ended March 31, 2023, 2022 and 2021, respectively. Accounting for Income Taxes We account for income taxes in accordance with ASC Topic 740, Income Taxes ("ASC 740"). The provision for income taxes and effective tax rates are calculated by legal entity and jurisdiction and are based on a number of factors, including the level of pre-tax earnings, income tax planning strategies, differences between tax laws and accounting rules, statutory tax rates and credits, uncertain tax positions and valuation allowances. We provide for global intangible low-taxed income (“GILTI”) earned by certain foreign subsidiaries in the year the tax is incurred and record an estimate of GILTI as a component of the tax provision. We use significant judgment and estimates in evaluating tax positions. The effective tax rate in a given financial statement period may be materially impacted by changes in the mix and level of earnings by taxing jurisdiction. Under ASC 740, deferred income taxes arise from temporary differences between the tax basis of assets and liabilities and their reported amounts. Valuation allowances are established when, in our judgment, it is more likely than not that deferred tax assets will not be realized. In assessing the need for a valuation allowance, we weigh the available positive and negative evidence, including historical levels of pre-tax income, legislative developments, expectations and risks associated with estimates of future pre-tax income, and prudent and feasible tax planning strategies. Foreign Currency Translation The functional currencies of our foreign operations are deemed to be the local country’s currency. Assets and liabilities of our international subsidiaries are translated at their respective period-end exchange rates, and revenues and expenses are translated at average currency exchange rates for the period. The resulting balance sheet translation adjustments are included in other comprehensive income (loss) and are reflected as a separate component of stockholders’ equity. Foreign currency transaction gains and losses are recorded in general and administrative expenses in the consolidated statements of operations. These gains and losses relate primarily to receivables and payables that are not denominated in the functional currency of the subsidiary they relate to. We recognized net foreign currency transaction losses of $1,163 in the year ended March 31, 2023, insignificant losses in the year ended March 31, 2022, and losses of $1,918 in the year ended March 31, 2021. Net Income (Loss) per Common Share Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of common shares during the period. Diluted net income (loss) 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 vesting of restricted stock units, shares to be purchased under the Employee Stock Purchase Plan ("ESPP"), and the exercise of stock options. The dilutive effect of such potential common shares is reflected in diluted earnings (loss) per share by application of the treasury stock method. The following table sets forth the reconciliation of basic and diluted net income (loss) per common share: Year Ended March 31, 2023 2022 2021 Net income (loss) $ (35,774) $ 33,624 $ (30,954) Basic net income (loss) per common share: Basic weighted average shares outstanding 44,664 45,443 46,652 Basic net income (loss) per common share $ (0.80) $ 0.74 $ (0.66) Diluted net income (loss) per common share: Basic weighted-average shares outstanding 44,664 45,443 46,652 Dilutive effect of stock options and restricted stock units (1) — 1,777 — Diluted weighted-average shares outstanding 44,664 47,220 46,652 Diluted net income (loss) per common share (0.80) 0.71 (0.66) (1) In fiscal 2023 and 2021 dilutive shares have been excluded because we were in a net loss position. The diluted weighted-average shares outstanding exclude restricted stock units, performance restricted stock units, shares to be purchased under the ESPP and outstanding stock options totaling 3,939, 505 and 5,024 for the fiscal years ended March 31, 2023, 2022 and 2021, respectively, because the effect would have been anti-dilutive. Cash and Cash Equivalents We consider all highly liquid investments purchased with maturities of three months or less at the date of purchase to be cash equivalents. 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 sheets. Long-term unbilled receivables are included in other assets. The allowance for doubtful accounts was $197 as of March 31, 2023 and $705 as of March 31, 2022. For the years ended March 31, 2023, 2022 and 2021, bad debt expense was immaterial. Historically, we have not experienced material losses related to the inability to collect receivables from our customers. There is presently no indication that we will not collect material amounts of accounts receivable as of March 31, 2023. The inability to collect receivables could have a material impact on our results of operations. 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 been minimal. Sales through our distribution agreement with Arrow Enterprise Computing Solutions, Inc. ("Arrow") totaled approximately 37% for the years ended March 31, 2023 and 2022, and 36% of total revenues for the year ended March 31, 2021. Arrow accounted for approximately 34% and 30% of total accounts receivable as of March 31, 2023 and 2022, respectively. Fair Value of Financial Instruments The carrying amounts of our cash, cash equivalents, accounts receivable, accounts payable and accrued expenses approximate their fair values due to the short-term maturity of these instruments. 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, we use 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 — Observable inputs such as 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; and Level 3 — Unobservable inputs that are supported by little or no market activity and that require the reporting entity to develop its own assumptions. There were no financial assets or liabilities measured at fair value on a recurring basis for the years ended March 31, 2023 or 2022. Equity Securities Accounted for at Net Asset Value We held equity interests in private equity funds of $5,900 as of March 31, 2023, which are accounted for under the net asset value practical expedient as permitted under ASC 820, Fair Value Measurement . These investments are included in other assets in the accompanying consolidated balance sheets. The net asset values of these investments are determined using quarterly capital statements from the funds, which are based on our contributions to the funds, allocation of profit and loss and changes in fair value of the underlying fund investments. Changes in fair value as reported on the capital statements are recorded through the consolidated statements of operations as non-operating income or expense. These private equity funds focus on making investments in key technology sectors, principally by investing in companies at expansion capital and growth equity stages. We have total unfunded commitments in private equity funds of $4,088 as of March 31, 2023. Leases We account for leases in accordance with ASC 842, Leases. For a further discussion of our accounting policies related to leases, see Note 16 of the notes to the consolidated financial statements. Property and Equipment Property and equipment are stated at cost, less accumulated depreciation and amortization. Land is not depreciated. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets. Computer and related equipment is generally depreciated over eighteen months to three years and furniture and fixtures are generally depreciated over three In January 2023, the assets that previously comprised our owned headquarters met the held for sale criteria in accordance with ASC 360, Property, Plant and Equipment , and were reclassified as such. These assets are no longer being depreciated. For further discussion on assets held for sale, see Note 6 of the notes to the consolidated financial statements. Goodwill and Intangible Assets Goodwill is recorded when the consideration paid for an acquisition exceeds the fair value of net tangible and intangible assets acquired. The carrying value of goodwill is tested for impairment on an annual basis on January 1, or more often if an event occurs or circumstances change that would more likely than not reduce the fair value of its carrying amount. For the purpose of impairment testing, we have a single reporting unit. The impairment test consists of comparing the fair value of the reporting unit with its carrying amount that includes goodwill. If the carrying amount of the reporting unit exceeds the fair value of the reporting unit, an impairment loss would be recognized to reduce the carrying amount to its fair value. Our finite lived purchased intangible asset, developed technology, was valued using the replacement cost method and is being amortized on a straight-line basis over its economic life of three years as we believed this method most closely reflects the pattern in which the economic benefits of the assets will be consumed. Impairment losses are recognized if the carrying amount of an intangible asset is both not recoverable and exceeds its fair value. Long-Lived Assets We review our long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. To determine the recoverability of our long-lived assets, we evaluate the estimated future undiscounted cash flows that are directly associated with, and that are expected to arise as a direct result of, the use and eventual disposition of the long-lived asset. If the estimated future undiscounted cash flows demonstrate that recoverability is not probable, an impairment loss would be recognized. An impairment loss would be calculated based on the excess carrying amount of the long-lived asset over the long-lived asset’s fair value. The fair value would be determined based on valuation techniques such as a comparison to fair values of similar assets. 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 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 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 sold as part of the transaction. The commission paid on the renewal of a term-based or subscription software license is 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 term-based software license transactions are 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 pay a commensurate renewal commission upon the next renewal of the subscription license and related updates and support. The incremental costs attributable to as-a-service offerings and professional services are generally amortized over the period the related services are provided and revenue is recognized. Amortization expense related to these costs is included in sales and marketing expenses in the accompanying consolidated statements of operations. 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 us. The value of deferred revenues will increase or decrease based on the timing of invoices and recognition of revenue. Share Repurchases We consider all shares repurchased as canceled shares restored to the status of authorized but unissued shares on the trade date. The aggregate purchase price of the shares of our common stock repurchased is reflected as a reduction to stockholders’ equity. We account for shares repurchased as an adjustment to common stock (at par value) with the excess repurchase price allocated between additional paid-in capital and accumulated deficit. Comprehensive Income Comprehensive income is defined to include all changes in equity, except those resulting from investments by stockholders and distribution to stockholders. Recently Adopted Accounting Standards There were no recently adopted accounting standards that had a material effect on our condensed consolidated financial statements and accompanying disclosures, and no recently issued accounting standards that are expected to have a material impact on our condensed consolidated financial statements and accompanying disclosures.

Revenue

Revenue	12 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Revenue We derive revenue 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 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 offer 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. We typically offer appliances via 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, the revenue and costs associated with hardware are usually not included in our financial statements. Services revenue includes revenue from customer support, as-a-service, 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, but can range between one Commvault's as-a-service offerings, which are branded as Metallic, allow customers to use hosted software over the contract period without taking possession of the software. Revenue related to Metallic is generally recognized ratably over the contract term as services revenue. 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. 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 and appliances 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. 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 As-a-service (Metallic) Ratably over the course of the contract (over time) Annually or at the beginning of the contract period 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. Our International region encompasses Europe, Middle East, Africa, Australia, India, Japan, Southeast Asia, China and our Americas region is comprised of the United States, Canada, and Latin America. Year Ended March 31, 2023 Americas International Total Software and Products Revenue $ 214,627 $ 140,455 $ 355,082 Customer Support Revenue 184,568 129,745 314,313 Other Services Revenue 70,049 45,146 115,195 Total Revenue $ 469,244 $ 315,346 $ 784,590 Year Ended March 31, 2022 Americas International Total Software and Products Revenue $ 215,264 $ 141,223 $ 356,487 Customer Support Revenue 202,867 144,248 347,115 Other Services Revenue 39,764 26,225 65,989 Total Revenue $ 457,895 $ 311,696 $ 769,591 Year Ended March 31, 2021 Americas International Total Software and Products Revenue $ 187,027 $ 139,816 $ 326,843 Customer Support Revenue 215,831 141,950 357,781 Other Services Revenue 21,264 17,584 38,848 Total Revenue $ 424,122 $ 299,350 $ 723,472 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. 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 Deferred Revenue Opening balance as of March 31, 2022 $ 177,182 $ 17,056 $ 14,296 $ 267,017 $ 150,180 Increase/(decrease), net 11,554 4,649 (4,429) 40,545 24,213 Ending balance as of March 31, 2023 $ 188,736 $ 21,705 $ 9,867 $ 307,562 $ 174,393 The net increase in accounts receivable (inclusive of unbilled receivables) and deferred revenue are a result of an increase in Metallic contracts which are billed upfront but recognized ratably over the contract period. The amount of revenue recognized in the period that was included in the opening deferred revenue balance was approximately $265,871 for the year ended March 31, 2023. The vast majority of this revenue consists of customer support and SaaS arrangements. The amount of revenue recognized from performance obligations satisfied in prior periods was not significant. Remaining Performance Obligations

Business Combination

Business Combination	12 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Business Combination	Business Combination In fiscal 2022, we completed the acquisition of TrapX Security, an Israeli-based cyber deception technology company, acquiring 100% of the equity interest for a purchase price of $18,653, paid in cash. The primary reason for the business combination is to expand the security features of our software-as-a-service offerings. The technology was valued using the replacement method. The following table summarizes the purchase price allocation as of the date of acquisition: Assets acquired and liabilities assumed: Cash $ 1,759 Trade accounts receivable 700 Developed technology 3,750 Pre-acquisition tax contingencies (736) Accrued expenses (523) Deferred revenue (1,642) Total identifiable net assets acquired and liabilities assumed 3,308 Goodwill 15,345 Total purchase price $ 18,653

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	12 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Net	Goodwill and Intangible Assets, Net Goodwill Goodwill represents the residual purchase price paid in a business combination after the fair value of all identified assets and liabilities have been recorded. It includes the estimated value of potential expansion with new customers, the opportunity to further develop sales relationships with new customers and intangible assets that do not qualify for separate recognition. Goodwill is not amortized. None of the goodwill recorded is expected to be deductible for income tax purposes. There were no impairments to the carrying amount of goodwill during the fiscal years ended March 31, 2023, 2022 or 2021. Goodwill balances are as follows: 2023 2022 Opening balance $ 127,780 $ 112,435 Additions — 15,345 Ending balance $ 127,780 $ 127,780 Intangible assets, net Intangible assets are recorded at cost and amortized over useful lives of three years. March 31, 2023 March 31, 2022 Gross Carrying Amount Accumulated Amortization Net Carrying Value Gross Carrying Amount Accumulated Amortization Net Carrying Value Developed technology $ 3,750 $ (1,458) $ 2,292 $ 3,750 $ (208) $ 3,542 Amortization expense from acquired intangible assets was $1,250 for the fiscal year ended March 31, 2023, $208 for the fiscal year ended 2022 and $5,650 for fiscal year ended 2021. Estimated future amortization expense of intangible assets with finite lives as of March 31, 2023 is as follows: Year ending March 31, 2024 $ 1,250 2025 1,042 Total $ 2,292

Assets Held for Sale

Assets Held for Sale	12 Months Ended
	Mar. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Assets Held for Sale	Assets Held for Sale During the fourth quarter of fiscal 2023, we entered into an agreement to sell our owned corporate headquarters in Tinton Falls, New Jersey for $40,000 in cash consideration and determined the assets and land related to headquarters met the criteria for classification as assets held for sale in accordance with ASC 360, Impairment and Disposal of Long-Lived Assets . The property's previous carrying amount of $92,161 was written down to its estimated fair value, less estimated costs to sell, of $38,680, resulting in a non-cash impairment charge of $53,481 on our consolidated statements of operations for the period ended March 31, 2023. We believe the sale will likely close in the first half of fiscal 2024. Upon closing of the transaction, we will enter into a lease for a portion of the premises.

Property and Equipment

Property and Equipment	12 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment consist of the following: March 31, 2023 2022 Land $ — $ 9,445 Buildings — 103,244 Computers, servers and other equipment 43,135 45,557 Furniture and fixtures 3,264 15,031 Leasehold improvements 8,433 9,349 Purchased software 1,862 2,016 Construction in process 111 2,119 56,805 186,761 Less: Accumulated depreciation and amortization (48,518) (80,248) $ 8,287 $ 106,513 We recorded depreciation and amortization expense of $8,958, $10,708, and $10,228 for the years ended 2023, 2022 and 2021, respectively. Depreciation expense allocated to our cost of goods sold was approximately $938 for the year ended 2023, and $1,250 for the years ended 2022 and 2021. As discussed in Note 6 of the notes to the consolidated financial statements, assets related to the sale of the Tinton Falls, New Jersey headquarters were reclassified to assets held for sale in the fourth quarter of fiscal 2023, at which time depreciation ended.

Accrued Liabilities

Accrued Liabilities	12 Months Ended
	Mar. 31, 2023
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities consist of the following: March 31, 2023 2022 Compensation and related payroll taxes $ 58,112 $ 73,409 Other 39,776 48,428 $ 97,888 $ 121,837

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase Commitments We, in the normal course of business, enter into various purchase commitments for goods or services. Total non-cancellable purchase commitments as of March 31, 2023, relate to marketing and IT services and also include the remaining purchase commitments for our use of certain cloud services with third-party providers. 2024 2025 2026 2027 and beyond Total Purchase commitments $ 21,413 $ 10,348 $ 1,122 $ 164,600 $ 197,483 In June 2022, we entered into an amended agreement with a third-party provider, in the ordinary course of business, for the use of certain cloud services through June 2027. Under the amended agreement, we committed to a purchase of $200,000 throughout the term of the agreement. As of March 31, 2023, we had $164,600 of remaining obligations under the purchase agreement. We have certain software royalty commitments associated with the shipment and licensing of certain products. Royalty expense is generally based on a fixed cost per unit shipped or a fixed fee for unlimited units shipped over a designated period. Royalty expense, included in cost of software and products revenues, was as follows: Year Ended March 31, 2023 2022 2021 Royalty expense $ 9,339 $ 11,188 $ 16,256 Warranties and Indemnifications We typically offer a 90-day limited product warranty for our software. To date, costs related to this product warranty have not been significant. We provide certain provisions within our software licensing agreements to indemnify our customers from any claim, suit or proceeding arising from alleged or actual intellectual property infringement. These provisions continue in perpetuity, along with our software licensing agreements. We have never incurred a liability relating to one of these indemnification provisions, and management believes that the likelihood of any future payout relating to these provisions is remote. Therefore, we have not recorded a liability during any period for these indemnification provisions. Lease Obligations Please refer to Note 16 of the notes to the financial statements for more detail on our minimum lease commitments. Legal Proceedings We do not believe that we are currently party to any pending legal action that could reasonably be expected to have a material adverse effect on our business or operating results. During fiscal 2022, we entered into settlement agreements resulting in a $7,900 gain which resolved certain legal matters. The settlement amounts are recorded in general and administrative expenses net against related legal expenses.

Capitalization

Capitalization	12 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Capitalization	Capitalization Common Stock We have 44,140 and 44,511 shares of common stock, par value $0.01, outstanding at March 31, 2023 and March 31, 2022, respectively. Our share repurchase program has been funded by our existing cash and cash equivalent balances, as well as cash flows provided by our operations. The Board of Directors (the "Board") had previously approved a share repurchase program of $250,000 in April 2022. The Board's authorization has no expiration date. During fiscal 2023, we repurchased $150,921 of our common stock, or approximately 2,521 shares. As a result, $99,079 remained available under the current authorization as of March 31, 2023. Subsequent Event On April 20, 2023, the Board approved an increase of the existing share repurchase program so that $250,000 was available. The Board’s authorization has no expiration date. Shares Reserved for Issuance At March 31, 2023, we have reserved 4,366 shares in connection with our Stock Plans discussed in Note 11 of the notes to the consolidated financial statements.

Stock Plans

Stock Plans	12 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock Plans	Stock PlansWe maintain the Omnibus Incentive Plan (the “2016 Incentive Plan”) for granting awards to employees. On August 24, 2022, our shareholders approved an amendment to the 2016 Incentive Plan to increase the maximum number of shares of common stock that may be delivered under the plan to 11,050, an increase of 1,000 shares. 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. As of March 31, 2023, approximately 1,478 shares were available for future grant under the 2016 Incentive Plan. As of March 31, 2023, we have granted non-qualified stock options, restricted stock units and performance stock awards under our stock incentive plans. Historically, most equity awards granted by us under our stock incentive plans generally vest quarterly over a three-year period, except that the shares that would otherwise vest quarterly over the first twelve months do not vest until the first anniversary of the grant. We anticipate that future grants under our stock incentive plans will be restricted stock units and performance stock awards and do not anticipate that we will grant stock options. The following table presents the stock-based compensation expense included in cost of services revenue, sales and marketing, research and development, general and administrative and restructuring expenses for the years ended March 31, 2023, 2022 and 2021.Stock-based compensation is attributable to restricted stock units, performance-based awards and the Employee Stock Purchase Plan ("ESPP"). Year Ended March 31, 2023 2022 2021 Cost of services revenue $ 4,787 $ 4,474 $ 3,317 Sales and marketing 43,081 37,431 35,577 Research and development 28,540 33,870 24,823 General and administrative 26,731 27,679 18,369 Restructuring 2,607 1,709 2,747 Stock-based compensation expense $ 105,746 $ 105,163 $ 84,833 As of March 31, 2023, there was approximately $135,912 of unrecognized stock-based compensation expense related to all of our employee stock plans that is expected to be recognized over a weighted-average period of 1.81 years. To the extent the actual forfeiture rate is different from what we have anticipated, stock-based compensation related to these awards will be different from our expectations. Stock option activity is as follows: Options Number of Weighted- Weighted- Aggregate Outstanding at March 31, 2022 917 $ 68.03 Granted — — Exercised (91) 49.82 Forfeited — — Expired (273) 62.86 Outstanding at March 31, 2023 553 $ 73.58 0.87 $ 1,985 Exercisable at March 31, 2023 553 $ 73.58 0.87 $ 1,985 The total intrinsic value of options exercised was $1,176, $12,704, and $4,306 in the years ended March 31, 2023, 2022 and 2021, respectively. Restricted stock unit activity is as follows: Non-Vested Restricted Stock Units Number Weighted- Non-vested as of March 31, 2022 3,310 $ 58.16 Granted 1,910 63.49 Vested (1,845) 56.01 Forfeited (422) 61.22 Non-vested as of March 31, 2023 2,953 $ 62.52 The total fair value of the restricted stock units that vested during the years ended March 31, 2023, 2022 and 2021 was $114,422, $122,259 and $72,544, respectively. The fair value of awards includes the awards with a market condition described below. Performance Based Awards In fiscal 2023, we granted 126 performance stock units ("PSUs") to certain executives. Vesting of these awards is contingent upon i) us meeting certain non-GAAP performance goals (performance-based) in fiscal 2023 and ii) our customary service periods. The awards vest over three years. 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 each financial period, management estimates the probable number of PSUs that would vest until the ultimate achievement of the performance goals is known. Based on our results, the PSUs vested at 128%. The awards are included in the restricted stock unit table. In fiscal 2022, we granted 105 and 14 PSUs to certain executives in May 2021 and June 2021, respectively, for a total of 119 PSUs. 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. 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. Based on our results, the PSUs granted in May 2021 vested at 150% and the PSUs granted in June 2021 vested at 200%. The awards are included in the restricted stock unit table. Awards with a Market Condition In fiscal 2023, we granted 126 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% (252 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 year was $76.48 per unit. The awards are included in the restricted stock unit table above. In fiscal 2022, we granted 105 market performance stock units to certain executives. The vesting of these awards is contingent upon us meeting certain 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 year was $87.74 per unit. The awards are included in the restricted stock unit table above. Employee Stock Purchase Plan The ESPP is a shareholder approved plan under which substantially all employees may purchase our 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 six-month offering periods. An employee’s payroll deductions under the ESPP are limited to 10% of the employee’s salary and employees may not purchase more than $25 of stock during any calendar year. Employees purchased 213 shares in exchange for $10,873 of proceeds in fiscal 2023 and 187 shares in exchange for $10,816 of proceeds in fiscal 2022. The ESPP 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 ESPP for fiscal 2023, 2022 and 2021 was $3,740, $3,341 and $3,417, respectively. As of March 31, 2023, there was approximately $1,298 of unrecognized cost related to the current purchase period of our ESPP.

Income Taxes

Income Taxes	12 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The components of income (loss) before income taxes were as follows: Year Ended March 31, 2023 2022 2021 Domestic $ (35,288) $ 25,905 $ (28,628) Foreign 19,926 17,509 7,393 $ (15,362) $ 43,414 $ (21,235) The components of income tax expense (benefit) were as follows: Year Ended March 31, 2023 2022 2021 Current: Federal $ 6,986 $ 284 $ 3,399 State 3,375 361 196 Foreign 10,725 9,096 6,215 Deferred: Federal (607) 28 (113) State — — — Foreign (67) 21 22 $ 20,412 $ 9,790 $ 9,719 A reconciliation of the statutory tax rates and the effective tax rates for the years ended March 31, 2023, 2022 and 2021 are as follows: Year Ended March 31, 2023 2022 2021 Statutory federal income tax expense (benefit) rate (21.0) % 21.0 % (21.0) % State and local income tax expense, net of federal income tax effect (11.8) % 0.8 % 0.9 % Foreign earnings taxed at different rates 28.0 % 6.2 % 10.0 % U.S. tax on Global Intangible Low-Taxed Income (17.1) % 0.5 % 1.8 % Domestic permanent differences including acquisition items 4.7 % 3.6 % 1.7 % Foreign tax credits (35.5) % (5.3) % (7.8) % Research credits (74.6) % (28.3) % (68.6) % Tax reserves (1.2) % 2.6 % (0.1) % Valuation allowance 219.9 % 18.3 % 74.4 % Enacted tax law changes 3.6 % 0.3 % — % Stock-based compensation 41.6 % (1.6) % 36.3 % CARES Act Impact — % — % 15.0 % Reduction of NOL for carryback — % — % — % Other differences, net (3.7) % 4.5 % 3.2 % Effective income tax expense 132.9 % 22.6 % 45.8 % The significant components of our deferred tax assets and liabilities are as follows: March 31, 2023 2022 Deferred tax assets: Net operating losses $ 9,106 $ 12,937 Equity investment/Capital losses 889 948 Stock-based compensation 11,912 15,726 Deferred revenue 24,025 19,125 Tax credits 42,986 50,587 Accrued expenses 1,816 2,148 Allowance for doubtful accounts and other reserves 572 493 R&D Capitalization under IRC § 174 32,091 — Depreciation and amortization 9,449 — Other 98 115 Less: valuation allowance (122,921) (90,242) Total deferred tax assets 10,023 11,837 Deferred tax liabilities: Depreciation and amortization — (3,945) Withholding taxes (393) — Deferred commissions and other (9,764) (8,700) Total deferred tax liabilities $ (10,157) $ (12,645) Net deferred tax liability $ (134) $ (808) Net deferred tax assets arise due to the recognition of income and expense items for tax purposes, which differ from those used for financial statement purposes. ASC 740, Income Taxes , provides for the recognition of deferred tax assets if realization of such assets is more likely than not. In assessing the need for a valuation allowance, we considered all available objective and verifiable evidence both positive and negative, including historical levels of pre-tax income (loss) both on a consolidated basis and tax reporting entity basis, legislative developments, expectations and risks associated with estimates of future pre-tax income, and prudent and feasible tax planning strategies. As a result of this analysis, we determined that it is more likely than not that we will not realize the benefits of our gross deferred tax assets and therefore have 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. At March 31, 2023 and 2022, we recorded valuation allowances of $122,921 and $90,242, respectively, representing an increase in the valuation allowance of $32,679 in 2023, due to the uncertainty regarding the realization of such deferred tax assets. At March 31, 2023, we had federal net operating loss ("NOL") carryforwards of $19,980, all of which will not expire. As of March 31, 2023, we had deferred tax assets related to state NOL carryforwards of $1,126 which expire over various years beginning in 2031 depending on the jurisdiction. As of March 31, 2023, we had foreign NOL carryforwards of $2,926 that will expire over various years beginning in 2028 depending on the jurisdiction and $33,635 that will not expire. As of March 31, 2023, we had capital loss carryforwards of $3,988 that will expire in 2027. We also had federal and state research tax credits ("R&D credit") carryforwards of approximately $22,350 and $23,597, respectively. The federal R&D credit carryforwards expire from 2039 through 2043, and the state R&D credit carryforwards expire from 2024 through 2038. We also had federal foreign tax credits (“FTC”) carryforwards of approximately $3,590. The federal FTC carryforwards expire from 2030 through 2033. We conduct business globally and as a result, file income tax returns in the United States and in various state and foreign jurisdictions. In the normal course of business, we are subject to examination by taxing authorities throughout the world. The following table summarizes the tax years subject to income tax examinations by tax authorities as of March 31, 2023. The years subject to income tax examination in our foreign jurisdictions cover the maximum time period with respect to these jurisdictions. Due to NOLs, in some cases the tax years continue to remain subject to examination with respect to such NOLs. Tax Jurisdiction Years Subject to Income U.S. Federal 2019 - Present Foreign jurisdictions 2012 - Present The calculation of our tax liabilities involves dealing with uncertainties in the application of complex tax regulations in each of our 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 amounts of unrecognized tax benefits is as follows: Balance at March 31, 2020 $ 1,662 Additions for tax positions related to fiscal 2021 614 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 (65) Foreign currency translation adjustment — Balance at March 31, 2021 2,211 Additions for tax positions related to fiscal 2022 2,808 Additions for tax positions related to prior years 90 Settlements and effective settlements with tax authorities and remeasurements — Reductions related to the expiration of statutes of limitations (117) Additions for tax positions related to purchase accounting 4,232 Foreign currency translation adjustment — Balance at March 31, 2022 9,224 Additions for tax positions related to fiscal 2023 394 Reductions for tax positions related to prior years (90) Settlements and effective settlements with tax authorities and remeasurements — Reductions related to the expiration of statutes of limitations (140) Additions for tax positions related to purchase accounting — Foreign currency translation adjustment — Balance at March 31, 2023 $ 9,388 We estimate that no significant remaining unrecognized tax benefits will be realized during the fiscal year ending March 31, 2024. Interest income, expense and penalties related to unrecognized tax benefits are recorded in income tax expense in the consolidated statements of operations. In the years ended March 31, 2023, 2022, and 2021, the impact related to interest expense, interest income and penalties was not significant.

Employee Benefit Plan

Employee Benefit Plan	12 Months Ended
	Mar. 31, 2023
Retirement Benefits [Abstract]
Employee Benefit Plan	Employee Benefit PlanWe have a defined contribution plan, as allowed under Section 401(k) of the Internal Revenue Code, covering substantially all employees. Effective January 1, 2012, we make contributions equal to a discretionary percentage of the employee’s contributions determined by us. During the years ended March 31, 2023, 2022 and 2021, we made contributions of $2,525, $2,923, and $2,445, respectively.

Segment Information

Segment Information	12 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Segment Information	Segment Information We operate in one segment. Our products and services are sold throughout the world, through direct and indirect sales channels. Our chief operating decision maker (the “CODM”) is the Chief Executive Officer. The CODM makes operating performance assessment and resource allocation decisions on a global basis. The CODM does not receive discrete financial information about asset allocation, expense allocation or profitability by product or geography. Revenues by geography are based upon the billing address of the customer. All transfers between geographic regions have been eliminated from consolidated revenues. The following table sets forth revenue and long-lived assets by geographic area: Year Ended March 31, 2023 2022 2021 Revenue: United States $ 416,347 $ 398,632 $ 379,106 Other 368,243 370,959 344,366 $ 784,590 $ 769,591 $ 723,472 No individual country other than the United States accounts for 10% or more of revenues in the years ended March 31, 2023, 2022 and 2021. Revenue included in the “Other” caption above primarily relates to our operations in Europe, Australia, Canada and Asia. March 31, 2023 2022 Long-lived assets: United States $ 184,356 $ 275,546 Other 47,304 56,453 $ 231,660 $ 331,999

Restructuring

Restructuring	12 Months Ended
	Mar. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring Our restructuring plan, initiated in the fourth quarter of fiscal 2022, is aimed to increase efficiency in our sales, marketing and distribution functions, as well as reduce costs across all functional areas. The plan also included a reorganization to combine our EMEA and APJ field organizations into our International region. These restructuring charges relate primarily to severance and related costs associated with headcount reductions and stock-based compensation related to modifications of existing unvested awards granted to certain employees impacted by the restructuring plan. For the years ended March 31, 2023, 2022 and 2021, restructuring charges were comprised of the following: Year Ended March 31, 2023 2022 2021 Employee severance and related costs $ 12,845 $ 4,483 $ 19,040 Lease impairments related costs (1) — — 1,684 Stock-based compensation 2,607 1,709 2,747 Total restructuring charges $ 15,452 $ 6,192 $ 23,471 (1) There were no lease impairment charges for the years ended March 31, 2023 and 2022. Lease impairment charges relate to seven offices for the year ended March 31, 2021. Restructuring accrual The activity in our restructuring accrual for the years ended March 31, 2023 and 2022 is as follows: Year Ended March 31, 2023 2022 Beginning balance $ 2,261 $ 3,095 Employee severance and related costs 12,845 4,483 Payments (11,895) (5,317) Ending balance $ 3,211 $ 2,261

Leases

Leases	12 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Leases	Leases We determine if an arrangement contains a lease at inception. We generally lease our facilities under operating leases. Operating lease right-of-use ("ROU") assets are included in operating lease assets on our consolidated balance sheets. Current portion of operating lease liabilities and long-term operating lease liabilities are included on our consolidated balance sheets. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we generally use our incremental borrowing rate based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at the commencement date. We recognize operating lease costs over the estimated term of the lease, which includes options to extend lease terms that are reasonably certain of being exercised, starting when possession of the property is taken from the landlord. When a lease contains a predetermined fixed escalation of the minimum rent, we recognize the related operating lease cost on a straight-line basis over the lease term. In addition, certain of our lease agreements include variable lease payments, such as estimated tax and maintenance charges. These variable lease payments are excluded from minimum lease payments and are included in the determination of lease cost when it is probable that the expense has been incurred and the amount can be reasonably estimated. Our lease liabilities relate primarily to operating leases for our global office infrastructure. These operating leases expire at various dates through fiscal 2031. We did not have any finance leases for the years ended March 31, 2023 or 2022. Net lease cost recognized in our consolidated statements of operations is summarized as follows: Year Ended March 31, 2023 2022 2021 Operating lease cost $ 5,449 $ 7,129 $ 9,048 Short-term lease cost 631 123 232 Variable lease cost 1,360 1,608 1,938 Net lease cost $ 7,440 $ 8,860 $ 11,218 Cash flow information Year Ended March 31, 2023 2022 2021 Cash paid for operating lease liabilities $ 5,421 $ 8,277 $ 10,370 Additions of operating lease assets (non-cash) $ 3,023 $ 1,827 $ 17,603 As of March 31, 2023, the minimum lease commitment amount for operating leases signed but not yet commenced was immaterial. As of March 31, 2023, the maturities of lease liabilities based on the total minimum lease commitment amount including options to extend lease terms that are reasonably certain of being exercised are as follows: 2024 $ 4,443 2025 4,208 2026 2,250 2027 815 2028 745 Thereafter 1,204 Total minimum lease payments $ 13,665 Less: Imputed interest 887 Present value of operating lease liabilities $ 12,778 Less: Current portion of operating lease liabilities 4,518 Long-term operating lease liabilities $ 8,260 Lease term and Discount rate Year Ended March 31, 2023 2022 Weighted-average remaining term (in years) 3.72 4.18 Weighted-average discount rate 4 % 4 %

Revolving Credit Facility

Revolving Credit Facility	12 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Revolving Credit Facility	Revolving Credit Facility On December 13, 2021, we entered into a five-year $100,000 senior secured revolving credit facility (the “Credit Facility”) with JPMorgan Chase Bank, N.A. ("J.P. Morgan"). 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 lender 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 our 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 Secured Overnight Financing Rate plus 1.25% subject to increases based on our actual leverage. The unused balance on the Credit Facility is also subject to a 0.25% annual interest charge subject to increases based on our actual leverage. As of March 31, 2023, there were no borrowings under the Credit Facility and we were in compliance with all covenants. We have 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 March 31, 2023 and 2022 were $428 and $543, respectively. The amortization of debt issuance costs incurred for the years ended March 31, 2023 and 2022 were $115 and $34.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements include the accounts of Commvault. All intercompany transactions and balances have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements and related disclosures in conformity with U.S. generally accepted accounting principles ("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 amounts of assets and liabilities reported in our balance sheets and the amounts of revenues and expenses reported for each of the 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, deferred commissions, purchased intangible assets and goodwill. Actual results could differ from those estimates.
Revenue, Deferred Commissions Cost and Deferred Revenue	Revenue We account for revenue in accordance with Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers ("ASC 606"). We record revenue net of sales tax. For a further discussion of our accounting policies related to revenue, see Note 3 of the notes to the consolidated financial statements. 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 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 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 sold as part of the transaction. The commission paid on the renewal of a term-based or subscription software license is 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 term-based software license transactions are 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 pay a commensurate renewal commission upon the next renewal of the subscription license and related updates and support. The incremental costs attributable to as-a-service offerings and professional services are generally amortized over the period the related services are provided and revenue is recognized. Amortization expense related to these costs is included in sales and marketing expenses in the accompanying consolidated statements of operations. 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 us. The value of deferred revenues will increase or decrease based on the timing of invoices and recognition of revenue. We derive revenue 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 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 offer 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. We typically offer appliances via 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, the revenue and costs associated with hardware are usually not included in our financial statements. Services revenue includes revenue from customer support, as-a-service, 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, but can range between one Commvault's as-a-service offerings, which are branded as Metallic, allow customers to use hosted software over the contract period without taking possession of the software. Revenue related to Metallic is generally recognized ratably over the contract term as services revenue. 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. 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 and appliances 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. 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 As-a-service (Metallic) Ratably over the course of the contract (over time) Annually or at the beginning of the contract period Observable in transactions without multiple performance obligations 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.
Accounting for Stock-Based Compensation	Accounting for Stock-Based Compensation Restricted stock units without a market condition are measured based on the fair market values of the underlying stock on the date of grant. We recognize stock-based compensation expense using the straight-line method for all stock awards that do not include a market or performance condition. Awards that include a market or performance condition are expensed using the accelerated method.
Software Development Costs	Software Development Costs The costs for the development of new products and substantial enhancements to existing products are expensed as incurred until technological feasibility has been established, at which time any additional costs would be capitalized in accordance with the accounting guidance for software. Because our current process for developing software is essentially completed concurrently with the establishment of technological feasibility, which occurs upon the completion of a working model, no costs have been capitalized for any of the periods presented.
Advertising Costs	Advertising CostsWe expense advertising costs as incurred.
Accounting for Income Taxes	Accounting for Income Taxes We account for income taxes in accordance with ASC Topic 740, Income Taxes ("ASC 740"). The provision for income taxes and effective tax rates are calculated by legal entity and jurisdiction and are based on a number of factors, including the level of pre-tax earnings, income tax planning strategies, differences between tax laws and accounting rules, statutory tax rates and credits, uncertain tax positions and valuation allowances. We provide for global intangible low-taxed income (“GILTI”) earned by certain foreign subsidiaries in the year the tax is incurred and record an estimate of GILTI as a component of the tax provision. We use significant judgment and estimates in evaluating tax positions. The effective tax rate in a given financial statement period may be materially impacted by changes in the mix and level of earnings by taxing jurisdiction. Under ASC 740, deferred income taxes arise from temporary differences between the tax basis of assets and liabilities and their reported amounts. Valuation allowances are established when, in our judgment, it is more likely than not that deferred tax assets will not be realized. In assessing the need for a valuation allowance, we weigh the available positive and negative evidence, including historical levels of pre-tax income, legislative developments, expectations and risks associated with estimates of future pre-tax income, and prudent and feasible tax planning strategies.
Foreign Currency Translation	Foreign Currency Translation The functional currencies of our foreign operations are deemed to be the local country’s currency. Assets and liabilities of our international subsidiaries are translated at their respective period-end exchange rates, and revenues and expenses are translated at average currency exchange rates for the period. The resulting balance sheet translation adjustments are included in other comprehensive income (loss) and are reflected as a separate component of stockholders’ equity. Foreign currency transaction gains and losses are recorded in general and administrative expenses in the consolidated statements of operations. These gains and losses relate primarily to receivables and payables that are not denominated in the functional currency of the subsidiary they relate to. We recognized net foreign currency transaction losses of $1,163 in the year ended March 31, 2023, insignificant losses in the year ended March 31, 2022, and losses of $1,918 in the year ended March 31, 2021.
Net Income (Loss) per Common Share	Net Income (Loss) per Common Share Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of common shares during the period. Diluted net income (loss) 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 vesting of restricted stock units, shares to be purchased under the Employee Stock Purchase Plan ("ESPP"), and the exercise of stock options. The dilutive effect of such potential common shares is reflected in diluted earnings (loss) per share by application of the treasury stock method.
Cash and Cash Equivalents	Cash and Cash Equivalents We consider all highly liquid investments purchased with maturities of three months or less at the date of purchase to be cash equivalents.
Trade and Other Receivables	Trade and Other ReceivablesTrade 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 sheets. Long-term unbilled receivables are included in other assets.
Concentration of Credit Risk	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 been minimal.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying amounts of our cash, cash equivalents, accounts receivable, accounts payable and accrued expenses approximate their fair values due to the short-term maturity of these instruments. 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, we use 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 — Observable inputs such as 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; and Level 3 — Unobservable inputs that are supported by little or no market activity and that require the reporting entity to develop its own assumptions.
Equity Securities Accounted for at Net Asset Value	Equity Securities Accounted for at Net Asset Value We held equity interests in private equity funds of $5,900 as of March 31, 2023, which are accounted for under the net asset value practical expedient as permitted under ASC 820, Fair Value Measurement . These investments are included in other assets in the accompanying consolidated balance sheets. The net asset values of these investments are determined using quarterly capital statements from the funds, which are based on our contributions to the funds, allocation of profit and loss and changes in fair value of the underlying fund investments. Changes in fair value as reported on the capital statements are recorded through the consolidated statements of operations as non-operating income or expense. These private equity funds focus on making investments in key technology sectors, principally by investing in companies at expansion capital and growth equity stages. We have total unfunded commitments in private equity funds of $4,088 as of March 31, 2023.
Leases	LeasesWe account for leases in accordance with ASC 842, Leases.
Property and Equipment	Property and Equipment Property and equipment are stated at cost, less accumulated depreciation and amortization. Land is not depreciated. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets. Computer and related equipment is generally depreciated over eighteen months to three years and furniture and fixtures are generally depreciated over three In January 2023, the assets that previously comprised our owned headquarters met the held for sale criteria in accordance with ASC 360, Property, Plant and Equipment
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill is recorded when the consideration paid for an acquisition exceeds the fair value of net tangible and intangible assets acquired. The carrying value of goodwill is tested for impairment on an annual basis on January 1, or more often if an event occurs or circumstances change that would more likely than not reduce the fair value of its carrying amount. For the purpose of impairment testing, we have a single reporting unit. The impairment test consists of comparing the fair value of the reporting unit with its carrying amount that includes goodwill. If the carrying amount of the reporting unit exceeds the fair value of the reporting unit, an impairment loss would be recognized to reduce the carrying amount to its fair value.
Long-Lived Assets	Long-Lived AssetsWe review our long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. To determine the recoverability of our long-lived assets, we evaluate the estimated future undiscounted cash flows that are directly associated with, and that are expected to arise as a direct result of, the use and eventual disposition of the long-lived asset. If the estimated future undiscounted cash flows demonstrate that recoverability is not probable, an impairment loss would be recognized. An impairment loss would be calculated based on the excess carrying amount of the long-lived asset over the long-lived asset’s fair value. The fair value would be determined based on valuation techniques such as a comparison to fair values of similar assets.
Share Repurchases	Share RepurchasesWe consider all shares repurchased as canceled shares restored to the status of authorized but unissued shares on the trade date. The aggregate purchase price of the shares of our common stock repurchased is reflected as a reduction to stockholders’ equity. We account for shares repurchased as an adjustment to common stock (at par value) with the excess repurchase price allocated between additional paid-in capital and accumulated deficit.
Comprehensive Income	Comprehensive Income Comprehensive income is defined to include all changes in equity, except those resulting from investments by stockholders and distribution to stockholders.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards There were no recently adopted accounting standards that had a material effect on our condensed consolidated financial statements and accompanying disclosures, and no recently issued accounting standards that are expected to have a material impact on our condensed consolidated financial statements and accompanying disclosures.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Computation of Basic and Diluted Net Income (loss) Per Common Share	The following table sets forth the reconciliation of basic and diluted net income (loss) per common share: Year Ended March 31, 2023 2022 2021 Net income (loss) $ (35,774) $ 33,624 $ (30,954) Basic net income (loss) per common share: Basic weighted average shares outstanding 44,664 45,443 46,652 Basic net income (loss) per common share $ (0.80) $ 0.74 $ (0.66) Diluted net income (loss) per common share: Basic weighted-average shares outstanding 44,664 45,443 46,652 Dilutive effect of stock options and restricted stock units (1) — 1,777 — Diluted weighted-average shares outstanding 44,664 47,220 46,652 Diluted net income (loss) per common share (0.80) 0.71 (0.66) (1) In fiscal 2023 and 2021 dilutive shares have been excluded because we were in a net loss position.

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of 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 As-a-service (Metallic) Ratably over the course of the contract (over time) Annually or at the beginning of the contract period Observable in transactions without multiple performance obligations
Schedule of Disaggregation of Revenue	Year Ended March 31, 2023 Americas International Total Software and Products Revenue $ 214,627 $ 140,455 $ 355,082 Customer Support Revenue 184,568 129,745 314,313 Other Services Revenue 70,049 45,146 115,195 Total Revenue $ 469,244 $ 315,346 $ 784,590 Year Ended March 31, 2022 Americas International Total Software and Products Revenue $ 215,264 $ 141,223 $ 356,487 Customer Support Revenue 202,867 144,248 347,115 Other Services Revenue 39,764 26,225 65,989 Total Revenue $ 457,895 $ 311,696 $ 769,591 Year Ended March 31, 2021 Americas International Total Software and Products Revenue $ 187,027 $ 139,816 $ 326,843 Customer Support Revenue 215,831 141,950 357,781 Other Services Revenue 21,264 17,584 38,848 Total Revenue $ 424,122 $ 299,350 $ 723,472
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 Deferred Revenue Opening balance as of March 31, 2022 $ 177,182 $ 17,056 $ 14,296 $ 267,017 $ 150,180 Increase/(decrease), net 11,554 4,649 (4,429) 40,545 24,213 Ending balance as of March 31, 2023 $ 188,736 $ 21,705 $ 9,867 $ 307,562 $ 174,393

Business Combination (Tables)

Business Combination (Tables)	12 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Summary of the Purchase Price Allocation as of the Date of Acquisition	The following table summarizes the purchase price allocation as of the date of acquisition: Assets acquired and liabilities assumed: Cash $ 1,759 Trade accounts receivable 700 Developed technology 3,750 Pre-acquisition tax contingencies (736) Accrued expenses (523) Deferred revenue (1,642) Total identifiable net assets acquired and liabilities assumed 3,308 Goodwill 15,345 Total purchase price $ 18,653

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Tables)	12 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Goodwill balances are as follows: 2023 2022 Opening balance $ 127,780 $ 112,435 Additions — 15,345 Ending balance $ 127,780 $ 127,780
Schedule of Purchased Intangible Assets, Net of Amortization	Intangible assets are recorded at cost and amortized over useful lives of three years. March 31, 2023 March 31, 2022 Gross Carrying Amount Accumulated Amortization Net Carrying Value Gross Carrying Amount Accumulated Amortization Net Carrying Value Developed technology $ 3,750 $ (1,458) $ 2,292 $ 3,750 $ (208) $ 3,542
Schedule of Estimated Future Amortization Expense	Estimated future amortization expense of intangible assets with finite lives as of March 31, 2023 is as follows: Year ending March 31, 2024 $ 1,250 2025 1,042 Total $ 2,292

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consist of the following: March 31, 2023 2022 Land $ — $ 9,445 Buildings — 103,244 Computers, servers and other equipment 43,135 45,557 Furniture and fixtures 3,264 15,031 Leasehold improvements 8,433 9,349 Purchased software 1,862 2,016 Construction in process 111 2,119 56,805 186,761 Less: Accumulated depreciation and amortization (48,518) (80,248) $ 8,287 $ 106,513

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	12 Months Ended
	Mar. 31, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consist of the following: March 31, 2023 2022 Compensation and related payroll taxes $ 58,112 $ 73,409 Other 39,776 48,428 $ 97,888 $ 121,837

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Long-term Purchase Commitment	Total non-cancellable purchase commitments as of March 31, 2023, relate to marketing and IT services and also include the remaining purchase commitments for our use of certain cloud services with third-party providers. 2024 2025 2026 2027 and beyond Total Purchase commitments $ 21,413 $ 10,348 $ 1,122 $ 164,600 $ 197,483
Schedule of Royalty Expense	Royalty expense, included in cost of software and products revenues, was as follows: Year Ended March 31, 2023 2022 2021 Royalty expense $ 9,339 $ 11,188 $ 16,256

Stock Plans (Tables)

Stock Plans (Tables)	12 Months Ended
	Mar. 31, 2023
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 and restructuring expenses for the years ended March 31, 2023, 2022 and 2021.Stock-based compensation is attributable to restricted stock units, performance-based awards and the Employee Stock Purchase Plan ("ESPP"). Year Ended March 31, 2023 2022 2021 Cost of services revenue $ 4,787 $ 4,474 $ 3,317 Sales and marketing 43,081 37,431 35,577 Research and development 28,540 33,870 24,823 General and administrative 26,731 27,679 18,369 Restructuring 2,607 1,709 2,747 Stock-based compensation expense $ 105,746 $ 105,163 $ 84,833
Schedule of Stock Option Activity	Stock option activity is as follows: Options Number of Weighted- Weighted- Aggregate Outstanding at March 31, 2022 917 $ 68.03 Granted — — Exercised (91) 49.82 Forfeited — — Expired (273) 62.86 Outstanding at March 31, 2023 553 $ 73.58 0.87 $ 1,985 Exercisable at March 31, 2023 553 $ 73.58 0.87 $ 1,985
Schedule of Restricted Stock Unit Activity	Restricted stock unit activity is as follows: Non-Vested Restricted Stock Units Number Weighted- Non-vested as of March 31, 2022 3,310 $ 58.16 Granted 1,910 63.49 Vested (1,845) 56.01 Forfeited (422) 61.22 Non-vested as of March 31, 2023 2,953 $ 62.52

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Components of Income (Loss) Before Income Taxes	The components of income (loss) before income taxes were as follows: Year Ended March 31, 2023 2022 2021 Domestic $ (35,288) $ 25,905 $ (28,628) Foreign 19,926 17,509 7,393 $ (15,362) $ 43,414 $ (21,235)
Components of Income Tax Expense (Benefit)	The components of income tax expense (benefit) were as follows: Year Ended March 31, 2023 2022 2021 Current: Federal $ 6,986 $ 284 $ 3,399 State 3,375 361 196 Foreign 10,725 9,096 6,215 Deferred: Federal (607) 28 (113) State — — — Foreign (67) 21 22 $ 20,412 $ 9,790 $ 9,719
Reconciliation of Statutory Tax Rates and Effective Tax Rates	A reconciliation of the statutory tax rates and the effective tax rates for the years ended March 31, 2023, 2022 and 2021 are as follows: Year Ended March 31, 2023 2022 2021 Statutory federal income tax expense (benefit) rate (21.0) % 21.0 % (21.0) % State and local income tax expense, net of federal income tax effect (11.8) % 0.8 % 0.9 % Foreign earnings taxed at different rates 28.0 % 6.2 % 10.0 % U.S. tax on Global Intangible Low-Taxed Income (17.1) % 0.5 % 1.8 % Domestic permanent differences including acquisition items 4.7 % 3.6 % 1.7 % Foreign tax credits (35.5) % (5.3) % (7.8) % Research credits (74.6) % (28.3) % (68.6) % Tax reserves (1.2) % 2.6 % (0.1) % Valuation allowance 219.9 % 18.3 % 74.4 % Enacted tax law changes 3.6 % 0.3 % — % Stock-based compensation 41.6 % (1.6) % 36.3 % CARES Act Impact — % — % 15.0 % Reduction of NOL for carryback — % — % — % Other differences, net (3.7) % 4.5 % 3.2 % Effective income tax expense 132.9 % 22.6 % 45.8 %
Components of Deferred Tax Assets and Liabilities	The significant components of our deferred tax assets and liabilities are as follows: March 31, 2023 2022 Deferred tax assets: Net operating losses $ 9,106 $ 12,937 Equity investment/Capital losses 889 948 Stock-based compensation 11,912 15,726 Deferred revenue 24,025 19,125 Tax credits 42,986 50,587 Accrued expenses 1,816 2,148 Allowance for doubtful accounts and other reserves 572 493 R&D Capitalization under IRC § 174 32,091 — Depreciation and amortization 9,449 — Other 98 115 Less: valuation allowance (122,921) (90,242) Total deferred tax assets 10,023 11,837 Deferred tax liabilities: Depreciation and amortization — (3,945) Withholding taxes (393) — Deferred commissions and other (9,764) (8,700) Total deferred tax liabilities $ (10,157) $ (12,645) Net deferred tax liability $ (134) $ (808)
Schedule of Tax Years Subject to Income Tax Examination	The following table summarizes the tax years subject to income tax examinations by tax authorities as of March 31, 2023. The years subject to income tax examination in our foreign jurisdictions cover the maximum time period with respect to these jurisdictions. Due to NOLs, in some cases the tax years continue to remain subject to examination with respect to such NOLs. Tax Jurisdiction Years Subject to Income U.S. Federal 2019 - Present Foreign jurisdictions 2012 - Present
Reconciliation of Amounts of Unrecognized Tax Benefits	A reconciliation of the amounts of unrecognized tax benefits is as follows: Balance at March 31, 2020 $ 1,662 Additions for tax positions related to fiscal 2021 614 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 (65) Foreign currency translation adjustment — Balance at March 31, 2021 2,211 Additions for tax positions related to fiscal 2022 2,808 Additions for tax positions related to prior years 90 Settlements and effective settlements with tax authorities and remeasurements — Reductions related to the expiration of statutes of limitations (117) Additions for tax positions related to purchase accounting 4,232 Foreign currency translation adjustment — Balance at March 31, 2022 9,224 Additions for tax positions related to fiscal 2023 394 Reductions for tax positions related to prior years (90) Settlements and effective settlements with tax authorities and remeasurements — Reductions related to the expiration of statutes of limitations (140) Additions for tax positions related to purchase accounting — Foreign currency translation adjustment — Balance at March 31, 2023 $ 9,388

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Schedule of Revenue by Geographic Area	The following table sets forth revenue and long-lived assets by geographic area: Year Ended March 31, 2023 2022 2021 Revenue: United States $ 416,347 $ 398,632 $ 379,106 Other 368,243 370,959 344,366 $ 784,590 $ 769,591 $ 723,472
Schedule of Long-Lived Assets by Geographic Area	March 31, 2023 2022 Long-lived assets: United States $ 184,356 $ 275,546 Other 47,304 56,453 $ 231,660 $ 331,999

Restructuring (Tables)

Restructuring (Tables)	12 Months Ended
	Mar. 31, 2023
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Accruals	For the years ended March 31, 2023, 2022 and 2021, restructuring charges were comprised of the following: Year Ended March 31, 2023 2022 2021 Employee severance and related costs $ 12,845 $ 4,483 $ 19,040 Lease impairments related costs (1) — — 1,684 Stock-based compensation 2,607 1,709 2,747 Total restructuring charges $ 15,452 $ 6,192 $ 23,471
Schedule of Activity in Restructuring Accrual	The activity in our restructuring accrual for the years ended March 31, 2023 and 2022 is as follows: Year Ended March 31, 2023 2022 Beginning balance $ 2,261 $ 3,095 Employee severance and related costs 12,845 4,483 Payments (11,895) (5,317) Ending balance $ 3,211 $ 2,261

Leases (Tables)

Leases (Tables)	12 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Schedule of Net Lease Cost Recognized on Condensed Consolidated Statement of Operations and Cash Flow Information	Net lease cost recognized in our consolidated statements of operations is summarized as follows: Year Ended March 31, 2023 2022 2021 Operating lease cost $ 5,449 $ 7,129 $ 9,048 Short-term lease cost 631 123 232 Variable lease cost 1,360 1,608 1,938 Net lease cost $ 7,440 $ 8,860 $ 11,218 Cash flow information Year Ended March 31, 2023 2022 2021 Cash paid for operating lease liabilities $ 5,421 $ 8,277 $ 10,370 Additions of operating lease assets (non-cash) $ 3,023 $ 1,827 $ 17,603
Schedule of Maturities of Lease Liabilities	As of March 31, 2023, the maturities of lease liabilities based on the total minimum lease commitment amount including options to extend lease terms that are reasonably certain of being exercised are as follows: 2024 $ 4,443 2025 4,208 2026 2,250 2027 815 2028 745 Thereafter 1,204 Total minimum lease payments $ 13,665 Less: Imputed interest 887 Present value of operating lease liabilities $ 12,778 Less: Current portion of operating lease liabilities 4,518 Long-term operating lease liabilities $ 8,260
Schedule of Lease Term and Discount Rate	Year Ended March 31, 2023 2022 Weighted-average remaining term (in years) 3.72 4.18 Weighted-average discount rate 4 % 4 %

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Summary Of Significant Accounting Policies [Line Items]
Advertising expenses	$ 8,663	$ 9,572	$ 9,560
Net foreign currency transaction losses	$ 1,163	$ 0	$ 1,918
Stock options, restricted stock units, and shares under the employee stock purchase plan (in shares)	3,939	505	5,024
Allowance for doubtful accounts	$ 197	$ 705
Equity securities	5,900
Unfunded commitments	$ 4,088
Software updates and customer support costs amortization period (in years)	5 years
Developed technology
Summary Of Significant Accounting Policies [Line Items]
Acquired finite-lived intangible assets, useful life (in years)	3 years
Minimum | Computers, servers and other equipment
Summary Of Significant Accounting Policies [Line Items]
Property and equipment, depreciation period (in years)	18 months
Minimum | Furniture and fixtures
Summary Of Significant Accounting Policies [Line Items]
Property and equipment, depreciation period (in years)	3 years
Maximum | Computers, servers and other equipment
Summary Of Significant Accounting Policies [Line Items]
Property and equipment, depreciation period (in years)	3 years
Maximum | Furniture and fixtures
Summary Of Significant Accounting Policies [Line Items]
Property and equipment, depreciation period (in years)	12 years
Customer concentration risk | Arrow | Revenue
Summary Of Significant Accounting Policies [Line Items]
Concentration percentage	37%	37%	36%
Customer concentration risk | Arrow | Accounts receivable
Summary Of Significant Accounting Policies [Line Items]
Concentration percentage	34%	30%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Computation of Basic and Diluted Net Income (loss) Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Net income (loss)	$ (35,774)	$ 33,624	$ (30,954)
Basic net income (loss) per common share:
Basic weighted average shares outstanding (in shares)	44,664	45,443	46,652
Basic net income (loss) per common share (in dollars per share)	$ (0.80)	$ 0.74	$ (0.66)
Diluted net income (loss) per common share:
Basic weighted average shares outstanding (in shares)	44,664	45,443	46,652
Dilutive effect of stock options and restricted stock units (in shares)	0	1,777	0
Diluted weighted-average shares outstanding (in shares)	44,664	47,220	46,652
Diluted net income (loss) per common share (in dollars per share)	$ (0.80)	$ 0.71	$ (0.66)

Revenue - Additional Informatio

Revenue - Additional Information (Details) $ in Thousands	12 Months Ended
	Mar. 31, 2023 USD ($) source
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Sources of primary revenue | source	2
Customer support agreement term	1 year
Subscription arrangement term	3 years
Revenue recognized in period, included in opening deferred revenue balance	$ 265,871
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized from remaining performance obligations (inclusive of deferred revenues)	$ 555,239
Revenue, remaining performance obligation, percentage	60%
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months
Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Subscription arrangement term	1 year
Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Subscription arrangement term	5 years

Revenue - Performance Obligatio

Revenue - Performance Obligations (Details)	12 Months Ended
	Mar. 31, 2023
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	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Total revenues	$ 784,590	$ 769,591	$ 723,472
Americas
Disaggregation of Revenue [Line Items]
Total revenues	469,244	457,895	424,122
International
Disaggregation of Revenue [Line Items]
Total revenues	315,346	311,696	299,350
Software and Products Revenue
Disaggregation of Revenue [Line Items]
Total revenues	355,082	356,487	326,843
Software and Products Revenue | Americas
Disaggregation of Revenue [Line Items]
Total revenues	214,627	215,264	187,027
Software and Products Revenue | International
Disaggregation of Revenue [Line Items]
Total revenues	140,455	141,223	139,816
Customer Support Revenue
Disaggregation of Revenue [Line Items]
Total revenues	314,313	347,115	357,781
Customer Support Revenue | Americas
Disaggregation of Revenue [Line Items]
Total revenues	184,568	202,867	215,831
Customer Support Revenue | International
Disaggregation of Revenue [Line Items]
Total revenues	129,745	144,248	141,950
Other Services Revenue
Disaggregation of Revenue [Line Items]
Total revenues	115,195	65,989	38,848
Other Services Revenue | Americas
Disaggregation of Revenue [Line Items]
Total revenues	70,049	39,764	21,264
Other Services Revenue | International
Disaggregation of Revenue [Line Items]
Total revenues	$ 45,146	$ 26,225	$ 17,584

Revenue - Opening and Closing B

Revenue - Opening and Closing Balances of Accounts Receivables, Unbilled Receivables, and Deferred Revenues (Details) (Details) $ in Thousands	12 Months Ended
	Mar. 31, 2023 USD ($)
Deferred Revenue (current)
Opening balance	$ 267,017
Ending balance	307,562
Deferred Revenue (long-term)
Opening balance	150,180
Ending balance	174,393
Unbilled Receivable (current)
Accounts Receivable
Opening balance	177,182
Increase/(decrease), net	11,554
Ending balance	188,736
Unbilled Receivable (current)
Opening balance	17,056
Increase/(decrease), net	4,649
Ending balance	21,705
Unbilled Receivable (long-term)
Unbilled Receivable (long-term)
Opening balance	14,296
Increase/(decrease), net	(4,429)
Ending balance	9,867
Deferred Revenue (current)
Deferred Revenue (current)
Opening balance	267,017
Increase/(decrease), net	40,545
Ending balance	307,562
Deferred Revenue (long-term)
Deferred Revenue (long-term)
Opening balance	150,180
Increase/(decrease), net	24,213
Ending balance	$ 174,393

Business Combination - Addition

Business Combination - Additional Information (Details) - TrapX Security $ in Thousands	12 Months Ended
	Mar. 31, 2022 USD ($)
Business Acquisition [Line Items]
Percentage of equity interests acquired	100%
Cash paid	$ 18,653

Business Combination - Summariz

Business Combination - Summarizes Purchase Price and Preliminary Purchase Price Allocation (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 127,780	$ 127,780	$ 112,435
TrapX Security
Business Acquisition [Line Items]
Cash		1,759
Trade accounts receivable		700
Developed technology		3,750
Pre-acquisition tax contingencies		(736)
Accrued expenses		(523)
Deferred revenue		(1,642)
Total identifiable net assets acquired and liabilities assumed		3,308
Goodwill		15,345
Total purchase price		$ 18,653

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Net - Additional Information (Details) - USD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill expected tax deductible amount	$ 0
Goodwill impairment	0	$ 0	$ 0
Amortization expenses	$ 1,250,000	$ 208,000	$ 5,650,000

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, Net - Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Goodwill [Roll Forward]
Opening balance	$ 127,780	$ 112,435
Additions	0	15,345
Ending balance	$ 127,780	$ 127,780

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets, Net - Intangible Assets, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Net Carrying Value	$ 2,292
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,750	$ 3,750
Accumulated Amortization	(1,458)	(208)
Net Carrying Value	$ 2,292	$ 3,542

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets, Net - Schedule of Estimated Future Amortization Expenses (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 1,250
2025	1,042
Total	$ 2,292

Assets Held for Sale (Details)

Assets Held for Sale (Details) - Disposal Group, Held-for-sale, Not Discontinued Operations - Corporate Headquarters in Tinton Falls, NJ $ in Thousands	12 Months Ended
	Mar. 31, 2023 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash consideration from sale of properties	$ 40
Property's previous carrying amount	92,161
Amount written down to estimated fair value, less estimated costs to sell	38,680
Impairment charge of properties to be disposed of	$ 53,481

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 56,805	$ 186,761
Less: Accumulated depreciation and amortization	(48,518)	(80,248)
Property and equipment, net	8,287	106,513
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	0	9,445
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment, gross	0	103,244
Computers, servers and other equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	43,135	45,557
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,264	15,031
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	8,433	9,349
Purchased software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,862	2,016
Construction in process
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 111	$ 2,119

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 8,958	$ 10,708	$ 10,228
Depreciation expense allocated to cost of goods sold	$ 938	$ 1,250	$ 1,250

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Payables and Accruals [Abstract]
Compensation and related payroll taxes	$ 58,112	$ 73,409
Other	39,776	48,428
Total accrued liabilities	$ 97,888	$ 121,837

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jun. 30, 2022	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Non-cancellable purchase commitments, 2024		$ 21,413,000
Non-cancellable purchase commitments, 2025		10,348,000
Non-cancellable purchase commitments, 2026		1,122,000
Non-cancellable purchase commitments, 2027 and beyond		164,600,000
Non-cancellable purchase commitments, Total for all periods through fiscal 2024		197,483,000
Purchase commitment	$ 200,000,000
Remaining obligation under purchase commitment		164,600,000
Royalty expense		$ 9,339,000	$ 11,188,000	$ 16,256,000
Maximum software warranty period (in days)		90 days
Product warranty accrual		$ 0	0	$ 0
Gain related to settlement			$ 7,900,000

Capitalization (Details)

Capitalization (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021	Apr. 20, 2023	Apr. 21, 2022
Class of Stock [Line Items]
Common stock, shares outstanding (in shares)	44,140,000	44,511,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Share repurchase program, authorized amount available					$ 250,000
Amount of common stock repurchased	$ 150,921	$ 305,239	$ 95,259
Number of shares repurchased (in shares)	2,521,000
Share repurchase program, remaining available amount	$ 99,079
Capital shares reserved for future issuance (in shares)	4,366,000
Subsequent Event
Class of Stock [Line Items]
Share repurchase program, authorized amount available				$ 250

Stock Plans - Additional Inform

Stock Plans - Additional Information (Details) - USD ($) $ in Thousands		12 Months Ended
	Aug. 24, 2022	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards vesting period		3 years
Unrecognized stock-based compensation expense		$ 135,912
Awards expected to be recognized over a weighted average period (in years)		1 year 9 months 21 days
Total intrinsic value of options exercised		$ 1,176	$ 12,704	$ 4,306
Total fair value of restricted stock units - vested		$ 114,422	$ 122,259	$ 72,544
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)	11,050,000
Addition shares authorized (in shares)	1,000,000
Options available for future grant (in shares)		1,478,000

Stock Plans - Stock-Based Compe

Stock Plans - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 105,746	$ 105,163	$ 84,833
Cost of services revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	4,787	4,474	3,317
Sales and marketing
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	43,081	37,431	35,577
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	28,540	33,870	24,823
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	26,731	27,679	18,369
Restructuring
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 2,607	$ 1,709	$ 2,747

Stock Plans - Stock Option Acti

Stock Plans - Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2023 USD ($) $ / shares shares
Number of Options
Outstanding beginning balance (in shares) | shares	917
Options granted (in shares) | shares	0
Options exercised (in shares) | shares	(91)
Options forfeited (in shares) | shares	0
Options expired (in shares) | shares	(273)
Outstanding ending balance (in shares) | shares	553
Exercisable at current period end (in shares) | shares	553
Weighted- Average Exercise Price
Weighted-Average Exercise Price, Outstanding beginning balance (in dollars per share) | $ / shares	$ 68.03
Weighted-Average Exercise Price, Options granted (in dollars per share) | $ / shares	0
Weighted-Average Exercise Price, Options exercised (in dollars per share) | $ / shares	49.82
Weighted-Average Exercise Price, Options forfeited (in dollars per share) | $ / shares	0
Weighted-Average Exercise Price, Options expired (in dollars per share) | $ / shares	62.86
Weighted-Average Exercise Price, Outstanding ending balance (in dollars per share) | $ / shares	73.58
Weighted-Average Exercise Price, Exercisable at current period-end (in dollars per share) | $ / shares	$ 73.58
Weighted- Average Remaining Contractual Term (Years)
Weighted-Average Remaining Contractual Term, Outstanding at current period-end	10 months 13 days
Weighted-Average Remaining Contractual Term, Exercisable at current period-end	10 months 13 days
Aggregate Intrinsic Value
Aggregate Intrinsic Value, Outstanding at current period-end | $	$ 1,985
Aggregate Intrinsic Value, Exercisable at current period-end | $	$ 1,985

Stock Plans - Restricted Stock

Stock Plans - Restricted Stock Unit Activity (Details) - Restricted stock units shares in Thousands	12 Months Ended
	Mar. 31, 2023 $ / shares shares
Number of Awards
Non-vested beginning balance (in shares) | shares	3,310
Granted (in shares) | shares	1,910
Vested (in shares) | shares	(1,845)
Forfeited (in shares) | shares	(422)
Non-vested ending balance (in shares) | shares	2,953
Weighted- Average Grant Date Fair Value
Non-vested beginning balance (in dollars per share) | $ / shares	$ 58.16
Granted (in dollars per share) | $ / shares	63.49
Vested (in dollars per share) | $ / shares	56.01
Forfeited (in dollars per share) | $ / shares	61.22
Non-vested ending balance (in dollars per share) | $ / shares	$ 62.52

Stock Plans - Performance Based

Stock Plans - Performance Based Awards (Details) - shares shares in Thousands	1 Months Ended		12 Months Ended
	Jun. 30, 2021	May 31, 2021	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards vesting period			3 years
PSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards, granted (in shares)	14	105	126	119
Awards vesting period			3 years	3 years
Percentage of shares eligible to vest			128%
Performance Stock Units Granted in May 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares eligible to vest				150%
Performance Stock Units Granted In June 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares eligible to vest				200%

Stock Plans - Awards with a Mar

Stock Plans - Awards with a Market Condition (Details) shares in Thousands	12 Months Ended
	Mar. 31, 2023 tranche $ / shares shares	Mar. 31, 2022 tranche $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards vesting period	3 years
Market performance shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards, granted (in shares)	126	105
Awards vesting period	3 years	3 years
Number of annual vesting tranches | tranche	3	3
Weighted average grant date fair value, granted (in dollars per share) | $ / shares	$ 76.48	$ 87.74
Market performance shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards potential to vest, percentage	200%	200%
Awards potential to vest (in shares)	252	210

Stock Plans - Employee Stock Pu

Stock Plans - Employee Stock Purchase Plan (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 105,746	$ 105,163	$ 84,833
Unrecognized stock-based compensation expense	$ 135,912
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price as a percentage of fair market value	85%
Length of offering period (in months)	6 months
Maximum employee payroll percent deduction of salary	10%
Maximum amount of stock purchasable by employees within a calendar year	$ 25
Number of shares purchased by employees (in shares)	213	187
Proceeds received	$ 10,873	$ 10,816
Compensation expense	3,740	$ 3,341	$ 3,417
Unrecognized stock-based compensation expense	$ 1,298

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Valuation allowance	$ 122,921,000	$ 90,242,000
Increase in valuation allowance	32,679,000
Unrecognized Tax Benefits
Remaining unrecognized tax benefits	0
Federal
Tax Credit Carryforward [Line Items]
NOL carryforwards	19,980,000
State and local
Tax Credit Carryforward [Line Items]
NOL carryforwards	1,126,000
Foreign
Tax Credit Carryforward [Line Items]
NOL carryforwards, subject to expiration	2,926,000
NOL carryforwards, not subject to expiration	33,635,000
Research tax credit carryforward | Federal
Tax Credit Carryforward [Line Items]
Tax credit carryforwards amount	22,350,000
Research tax credit carryforward | State and local
Tax Credit Carryforward [Line Items]
Tax credit carryforwards amount	23,597,000
Capital loss carryforwards
Tax Credit Carryforward [Line Items]
Tax credit carryforwards amount	3,988,000
Foreign tax credits | Federal
Tax Credit Carryforward [Line Items]
Tax credit carryforwards amount	$ 3,590,000

Income Taxes - Components of In

Income Taxes - Components of Income Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Domestic	$ (35,288)	$ 25,905	$ (28,628)
Foreign	19,926	17,509	7,393
Income (loss) before income taxes	$ (15,362)	$ 43,414	$ (21,235)

Income Taxes - Components of _2

Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Current:
Federal	$ 6,986	$ 284	$ 3,399
State	3,375	361	196
Foreign	10,725	9,096	6,215
Deferred:
Federal	(607)	28	(113)
State	0	0	0
Foreign	(67)	21	22
Income tax expense (benefit)	$ 20,412	$ 9,790	$ 9,719

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Statutory Tax Rates and Effective Tax Rates (Details)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Statutory federal income tax expense (benefit) rate	21%	21%	21%
State and local income tax expense, net of federal income tax effect	11.80%	0.80%	(0.90%)
Foreign earnings taxed at different rates	(28.00%)	6.20%	(10.00%)
U.S. tax on Global Intangible Low-Taxed Income	17.10%	0.50%	(1.80%)
Domestic permanent differences including acquisition items	(4.70%)	3.60%	(1.70%)
Foreign tax credits	35.50%	(5.30%)	7.80%
Research credits	74.60%	(28.30%)	68.60%
Tax reserves	1.20%	2.60%	0.10%
Valuation allowance	(219.90%)	18.30%	(74.40%)
Enacted tax law changes	(3.60%)	0.30%	0%
Stock-based compensation	(41.60%)	(1.60%)	(36.30%)
CARES Act Impact	0%	0%	(15.00%)
Reduction of NOL for carryback	0%	0%	0%
Other differences, net	3.70%	4.50%	(3.20%)
Effective income tax expense	(132.90%)	22.60%	(45.80%)

Income Taxes - Components of De

Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Deferred tax assets:
Net operating losses	$ 9,106	$ 12,937
Equity investment/Capital losses	889	948
Stock-based compensation	11,912	15,726
Deferred revenue	24,025	19,125
Tax credits	42,986	50,587
Accrued expenses	1,816	2,148
Allowance for doubtful accounts and other reserves	572	493
R&D Capitalization under IRC § 174	32,091	0
Depreciation and amortization	9,449	0
Other	98	115
Less: valuation allowance	(122,921)	(90,242)
Total deferred tax assets	10,023	11,837
Deferred tax liabilities:
Depreciation and amortization	0	(3,945)
Deferred Tax Assets, Withholding Taxes	(393)	0
Deferred commissions and other	(9,764)	(8,700)
Total deferred tax liabilities	(10,157)	(12,645)
Net deferred tax liability	$ (134)	$ (808)

Income Taxes - Reconciliation_2

Income Taxes - Reconciliation of Amounts of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 9,224	$ 2,211	$ 1,662
Additions for tax positions related to current fiscal period	394	2,808	614
Additions for tax positions related to prior years		90	0
Reductions for tax positions related to prior years	(90)
Settlements and effective settlements with tax authorities and remeasurements	0	0	0
Reductions related to the expiration of statutes of limitations	(140)	(117)	(65)
Additions for tax positions related to purchase accounting	0	4,232
Foreign currency translation adjustment	0	0	0
Ending balance	$ 9,388	$ 9,224	$ 2,211

Employee Benefit Plan - Additio

Employee Benefit Plan - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Retirement Benefits [Abstract]
Company contributions to defined contribution plan	$ 2,525	$ 2,923	$ 2,445

Segment Information - Additiona

Segment Information - Additional Information (Details)	12 Months Ended
	Mar. 31, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	1

Segment Information - Schedule

Segment Information - Schedule of Revenue by Geographic Area (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 784,590	$ 769,591	$ 723,472
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	416,347	398,632	379,106
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 368,243	$ 370,959	$ 344,366

Segment Information - Schedul_2

Segment Information - Schedule of Long-Lived Assets by Geographic Area (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 231,660	$ 331,999
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	184,356	275,546
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 47,304	$ 56,453

Restructuring - Restructuring C

Restructuring - Restructuring Charges (Details)	12 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($) office
Restructuring and Related Activities [Abstract]
Employee severance and related costs	$ 12,845,000	$ 4,483,000	$ 19,040,000
Lease impairments related costs	0	0	1,684,000
Stock-based compensation	2,607,000	1,709,000	2,747,000
Total restructuring charges	$ 15,452,000	$ 6,192,000	$ 23,471,000
Number of leases related to lease impairment | office			7

Restructuring - Activity in Res

Restructuring - Activity in Restructuring Accruals (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Restructuring Reserve [Roll Forward]
Beginning balance	$ 2,261	$ 3,095
Employee severance and related costs	12,845	4,483	$ 19,040
Payments	(11,895)	(5,317)
Ending balance	$ 3,211	$ 2,261	$ 3,095

Leases - Net Lease Costs Recogn

Leases - Net Lease Costs Recognized (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Operating lease cost	$ 5,449	$ 7,129	$ 9,048
Short-term lease cost	631	123	232
Variable lease cost	1,360	1,608	1,938
Net lease cost	$ 7,440	$ 8,860	$ 11,218

Leases - Cash Flow Information

Leases - Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Cash paid for operating lease liabilities	$ 5,421	$ 8,277	$ 10,370
Additions of operating lease assets (non-cash)	$ 3,023	$ 1,827	$ 17,603

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
2024	$ 4,443
2025	4,208
2026	2,250
2027	815
2028	745
Thereafter	1,204
Total minimum lease payments	13,665
Less: Imputed interest	887
Present value of operating lease liabilities	12,778
Less: Current portion of operating lease liabilities	4,518	$ 4,778
Long-term operating lease liabilities	$ 8,260	$ 11,270

Leases - Schedule of Lease Term

Leases - Schedule of Lease Term and Discount Rate (Details)	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Weighted-average remaining term (in years)	3 years 8 months 19 days	4 years 2 months 4 days
Weighted-average discount rate	4%	4%

Revolving Credit Facility (Deta

Revolving Credit Facility (Details) - Senior Secured Revolving Credit Facility - Revolving Credit Facility - USD ($)		12 Months Ended
	Dec. 13, 2021	Mar. 31, 2023	Mar. 31, 2022
Line of Credit Facility [Line Items]
Debt term	5 years
Borrowing capacity	$ 100,000,000
Annual interest charge on unused balance of the credit facility	0.25%
Borrowings under the credit facility		$ 0
Unamortized debt issuance costs		428,000	$ 543,000
Amortization of debt issuance costs		$ 115,000	$ 34,000
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Line of Credit Facility [Line Items]
Debt, basis spread on variable rate	1.25%

Uncategorized Items - cvlt-2023

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