0001169561-20-000052 | 10-Q | XBRL Viewer

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Cover Page - shares	6 Months Ended
Cover Page - shares	Sep. 30, 2020	Oct. 27, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	1-33026
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	22-3447504
Entity Address, Address Line One	1 Commvault Way
Entity Address, City or Town	Tinton Falls
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07724
City Area Code	732
Local Phone Number	870-4000
Title of 12(b) Security	Common Stock
Trading Symbol	CVLT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		47,130,331
Entity Registrant Name	COMMVAULT SYSTEMS INC
Entity Central Index Key	0001169561
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Mar. 31, 2020
Current assets:
Cash and cash equivalents	$ 383,153	$ 288,082
Restricted cash	0	8,000
Short-term investments	10,845	43,645
Trade accounts receivable, net	138,957	146,990
Other current assets	26,038	26,969
Total current assets	558,993	513,686
Property and equipment, net	113,014	114,519
Operating lease assets	18,691	15,009
Deferred commissions cost	32,726	31,394
Intangible assets, net	0	46,350
Goodwill	112,435	112,435
Other assets	16,119	11,683
Total assets	851,978	845,076
Current liabilities:
Accounts payable	253	307
Accrued liabilities	79,112	87,051
Current portion of operating lease liabilities	7,563	7,699
Deferred revenue	227,777	233,497
Total current liabilities	314,705	328,554
Deferred revenue, less current portion	97,506	92,723
Deferred tax liabilities, net	739	849
Long-term operating lease liabilities	12,574	8,808
Other liabilities	6,978	2,238
Commitments and contingencies
Stockholders’ equity:
Preferred stock, value, issued	0	0
Common stock, value ,issued	464	458
Additional paid-in capital	1,023,459	978,659
Accumulated deficit	(592,762)	(553,790)
Accumulated other comprehensive loss	(11,685)	(13,423)
Total stockholders’ equity	419,476	411,904
Total liabilities and stockholders’ equity	$ 851,978	$ 845,076

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2020	Mar. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	46,685,000	46,011,000
Common stock, shares outstanding (in shares)	46,685,000	46,011,000

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues:
Total revenues	$ 171,139	$ 167,582	$ 344,139	$ 329,785
Cost of revenues:
Total cost of revenues	26,799	31,241	51,350	59,961
Gross margin	144,340	136,341	292,789	269,824
Operating expenses:
Sales and marketing	79,069	80,960	160,745	168,345
Research and development	30,955	23,227	62,097	46,807
General and administrative	24,748	24,753	46,307	47,260
Restructuring	5,767	12,851	8,091	16,930
Impairment of intangible asset	40,700	0	40,700	0
Depreciation and amortization	5,053	2,719	10,118	5,325
Total operating expenses	186,292	144,510	328,058	284,667
Loss from operations	(41,952)	(8,169)	(35,269)	(14,843)
Interest income	249	1,561	592	3,484
Loss before income taxes	(41,703)	(6,608)	(34,677)	(11,359)
Income tax expense (benefit)	(532)	476	4,211	2,571
Net loss	$ (41,171)	$ (7,084)	$ (38,888)	$ (13,930)
Net loss per common share:
Basic (in dollars per share)	$ (0.89)	$ (0.16)	$ (0.84)	$ (0.31)
Diluted (in dollars per share)	$ (0.89)	$ (0.16)	$ (0.84)	$ (0.31)
Weighted average common shares outstanding:
Basic (in shares)	46,516	45,277	46,354	45,363
Diluted (in shares)	46,516	45,277	46,354	45,363
Software and products
Revenues:
Total revenues	$ 72,309	$ 68,595	$ 148,863	$ 132,269
Cost of revenues:
Total cost of revenues	7,903	8,831	13,750	14,861
Services
Revenues:
Total revenues	98,830	98,987	195,276	197,516
Cost of revenues:
Total cost of revenues	$ 18,896	$ 22,410	$ 37,600	$ 45,100

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net loss	$ (41,171)	$ (7,084)	$ (38,888)	$ (13,930)
Other comprehensive income (loss):
Foreign currency translation adjustment	788	(1,138)	1,738	(1,165)
Comprehensive loss	$ (40,383)	$ (8,222)	$ (37,150)	$ (15,095)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ 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, 2019			45,582
Beginning balance at Mar. 31, 2019	$ 391,303		$ 454	$ 887,907	$ (485,490)		$ (11,568)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	29,607			29,607
Share issuances related to stock-based compensation (in shares)			657
Share issuances related to stock-based compensation	6,325		$ 6	6,319
Repurchase of common stock (in shares)			(830)
Repurchase of common stock	(40,026)		$ (8)	(6,934)	(33,084)
Net income (loss)	(13,930)				(13,930)
Other comprehensive income (loss)	(1,165)						(1,165)
Ending balance (in shares) at Sep. 30, 2019			45,409
Ending balance at Sep. 30, 2019	372,114		$ 452	916,899	(532,504)		(12,733)
Beginning balance (in shares) at Mar. 31, 2019			45,582
Beginning balance at Mar. 31, 2019	391,303		$ 454	887,907	(485,490)		(11,568)
Ending balance (in shares) at Mar. 31, 2020			46,011
Ending balance at Mar. 31, 2020	$ 411,904	$ (84)	$ 458	978,659	(553,790)	$ (84)	(13,423)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Beginning balance (in shares) at Jun. 30, 2019			45,077
Beginning balance at Jun. 30, 2019	$ 359,817		$ 449	896,383	(525,420)		(11,595)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	14,857			14,857
Share issuances related to stock-based compensation (in shares)			332
Share issuances related to stock-based compensation	5,662		$ 3	5,659
Net income (loss)	(7,084)				(7,084)
Other comprehensive income (loss)	(1,138)						(1,138)
Ending balance (in shares) at Sep. 30, 2019			45,409
Ending balance at Sep. 30, 2019	372,114		$ 452	916,899	(532,504)		(12,733)
Beginning balance (in shares) at Mar. 31, 2020			46,011
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	39,535			39,535
Share issuances related to stock-based compensation (in shares)			674
Share issuances related to stock-based compensation	5,271		$ 6	5,265
Net income (loss)	(38,888)				(38,888)
Other comprehensive income (loss)	1,738						1,738
Ending balance (in shares) at Sep. 30, 2020			46,685
Ending balance at Sep. 30, 2020	419,476		$ 464	1,023,459	(592,762)		(11,685)
Beginning balance (in shares) at Jun. 30, 2020			46,321
Beginning balance at Jun. 30, 2020	434,235		$ 461	997,838	(551,591)		(12,473)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	20,584			20,584
Share issuances related to stock-based compensation (in shares)			364
Share issuances related to stock-based compensation	5,040		$ 3	5,037
Net income (loss)	(41,171)				(41,171)
Other comprehensive income (loss)	788						788
Ending balance (in shares) at Sep. 30, 2020			46,685
Ending balance at Sep. 30, 2020	$ 419,476		$ 464	$ 1,023,459	$ (592,762)		$ (11,685)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities
Net loss	$ (38,888)	$ (13,930)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	10,743	6,054
Noncash stock-based compensation	39,535	29,607
Amortization of deferred commissions cost	9,526	8,730
Impairment of operating lease assets	692	2,050
Impairment of intangible asset	40,700	0
Changes in operating assets and liabilities:
Trade accounts receivable	3,637	45,625
Operating lease assets and liabilities, net	(808)	42
Other current assets and Other assets	9,982	(1,796)
Deferred commissions cost	(9,965)	(6,962)
Accounts payable	(67)	(425)
Accrued liabilities	(17,151)	(1,015)
Deferred revenue	(10,222)	(12,079)
Other liabilities	4,528	(782)
Net cash provided by operating activities	42,242	55,119
Cash flows from investing activities
Purchase of short-term investments	0	(32,800)
Proceeds from maturity of short-term investments	32,800	65,519
Purchase of property and equipment	(3,662)	(1,457)
Net cash provided by investing activities	29,138	31,262
Cash flows from financing activities
Repurchase of common stock	0	(40,026)
Proceeds from stock-based compensation plans	5,271	6,325
Net cash provided by (used in) financing activities	5,271	(33,701)
Effects of exchange rate — changes in cash	10,420	(3,047)
Net increase in cash, cash equivalents and restricted cash	87,071	49,633
Cash, cash equivalents and restricted cash at beginning of period	296,082	327,992
Cash, cash equivalents and restricted cash at end of period	$ 383,153	$ 377,625

Basis of Presentation	6 Months Ended
Basis of Presentation	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Commvault Systems, Inc. and its subsidiaries ("Commvault," "we," "us," or "our") is a provider of data protection and information management software applications and products. We develop, market and sell a suite of software applications and services, globally, that provides our customers with data protection solutions. We also provide our customers with a broad range of professional and customer support services. The consolidated financial statements of Commvault as of September 30, 2020 and for the three and six months ended September 30, 2020 and 2019 are unaudited, and in the opinion of management, include all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of the results for the interim periods. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles (“U.S. GAAP”) for complete financial statements and should be read in conjunction with the financial statements and notes in our Annual Report on Form 10-K for fiscal 2020. The results reported in these financial statements should not necessarily be taken as indicative of results that may be expected for the entire fiscal year. The preparation of financial statements and related disclosures in conformity with U.S. GAAP requires management to make judgments and estimates that affect the amounts reported in our consolidated financial statements and the accompanying notes. We base our estimates and judgments on historical experience and on various other assumptions that we believe are reasonable under the circumstances. The amounts of assets and liabilities reported in our balance sheets and the amounts of revenues and expenses reported for each of our periods presented are affected by estimates and assumptions, which are used for, but not limited to, the accounting for revenue recognition, income taxes and related reserves, and goodwill and purchased intangible assets. Actual results could differ from those estimates.

Summary of Significant Accounting Policies

6 Months Ended

Sep. 30, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Recently Adopted Accounting Standards


Standard	Description	Effective Date	Effect on the Consolidated Financial Statements (or Other Significant Matters)
Accounting Standards Update ("ASU") No. 2016-13 (Topic 326), Financial Instruments-Credit Losses	The standard amends guidance on the impairment of financial instruments. The ASU estimates credit losses based on expected losses and provides for a simplified accounting model for purchased financial assets with credit deterioration. The standard requires a modified retrospective basis adoption through a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption.	We adopted this new standard as of April 1, 2020, using the modified retrospective method recognized as of the date of initial application.	The adoption of this new standard resulted in an $84 thousand cumulative effect on our unaudited consolidated financial statements related to an adjustment to our allowance for doubtful accounts. Under the new standard, we assess credit losses on accounts receivable by taking into consideration past collection experience, credit quality of the customer, age of the receivable balance, current economic conditions, and forecasts that affect the collectability of the reported amount.

Recently Issued Accounting Standards Not Yet Adopted


Standard	Description	Effective Date	Effect on the Consolidated Financial Statements (or Other Significant Matters)
ASU No. 2019-12 (Topic 740), Income Taxes	In December 2019, the Financial Accounting Standards Board ("FASB") issued a new standard to simplify the accounting for income taxes. The guidance eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences related to changes in ownership of equity method investments and foreign subsidiaries. The guidance also simplifies aspects of accounting for franchise taxes and enacted changes in tax laws or rates, and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill.	The standard will be effective for us beginning April 1, 2021, with early adoption permitted.	We are currently evaluating the impact of this standard in our consolidated financial statements, including accounting policies, processes, and systems.

Concentration of Credit Risk

We grant credit to customers in a wide variety of industries worldwide and generally do not require collateral. Credit losses relating to these customers have historically been minimal.

Sales through our distribution agreement with Arrow Enterprise Computing Solutions, Inc. (“Arrow”) totaled 36% and 37% of total revenues for the six months ended September 30, 2020 and 2019, respectively. Arrow accounted for approximately 26% and 31% of total accounts receivable as of September 30, 2020 and March 31, 2020, respectively.

Tech Data Corporation ("Tech Data") accounted for approximately 11% of total accounts receivable as of September 30, 2020.

Fair Value of Financial Instruments

The carrying amounts of our cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximate their fair values due to the short-term maturity of these instruments. Our short-term investments balance consists of U.S. Treasury Bills with maturities of one year or less. We account for our short-term investments as held to maturity.

The following table summarizes the composition of our financial assets and liabilities measured at fair value on a recurring basis at September 30, 2020 and March 31, 2020:


September 30, 2020	Level 1		Level 2	Level 3	Total

Short-term investments	$	—	10,996	—	$	10,996


March 31, 2020	Level 1		Level 2	Level 3	Total

Short-term investments	$	—	44,484	—	$	44,484

Revenue

6 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue

We derive revenues from two primary sources: software and products, and services. Software and products revenue includes our software and integrated appliances that combine our software with hardware. Services include customer support (software updates and technical support), consulting, assessment and design services, installation services, customer education and Commvault software-as-a-service, which is branded as Metallic.

We sell both perpetual and term-based licenses of our software. We refer to our term-based software licenses as subscription arrangements. We do not customize our software and installation services are not required. The software is delivered before related services are provided and is functional without professional services, updates and technical support. We have concluded that our software licenses (both perpetual and subscription) are functional intellectual property that is distinct as the user can benefit from the software on its own. Software revenue for both perpetual and subscription licenses is typically recognized when the software is delivered and/or made available for download as this is the point the user of the software can direct the use of, and obtain substantially all of the remaining benefits from the functional intellectual property. We do not recognize software revenue related to the renewal of subscription software licenses earlier than the beginning of the new subscription period.

We also sell appliances that integrate our software with hardware and address a wide-range of business needs and use cases, ranging from support for remote or branch offices with limited IT staff up to large corporate data centers. Revenue related to appliances is recognized when control of the appliances passes to the customer; typically upon delivery.

Services revenue includes revenue from customer support and other professional services. Customer support includes software updates on a when-and-if-available basis, telephone support, integrated web-based support and bug fixes or patches. The Company sells its customer support contracts as a percentage of net software purchases the support is related to. Customer support revenue is recognized ratably over the term of the customer support agreement, which is typically one year.

Our other professional services include consulting, assessment and design services, installation services and customer education. Customer education services include courses taught by our instructors or third-party contractors. Revenue related to other professional services and customer education services is typically recognized as the services are performed. In fiscal 2020 Commvault launched Metallic, which is a Commvault software-as-a-service offering. Revenue from Metallic is recognized ratably as services revenue. Revenue to date from Metallic has not been material.

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 is Typically Satisfied	When Payment is Typically Due	How Standalone Selling Price is Typically Estimated
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
Appliances	When control of the appliances passes to the customer; typically upon delivery	Within 90 days of delivery	Residual approach
Customer Support Revenue
Software Updates	Ratably over the course of the support contract (over time)	At the beginning of the contract period	Observable in renewal transactions
Customer Support	Ratably over the course of the support contract (over time)	At the beginning of the contract period	Observable in renewal transactions
Other Services Revenue
Other Professional Services (except for education services)	As work is performed (over time)	Within 90 days of services being performed	Observable in transactions without multiple performance obligations
Education Services	When the class is taught (point in time)	Within 90 days of services being performed	Observable in transactions without multiple performance obligations
Software-as-a-service (Metallic)	Ratably over the course of the contract (over time)	Annual or monthly payments	Observable in transactions without multiple performance obligations

Disaggregation of Revenue

We disaggregate revenue from contracts with customers into the nature of the products and services and geographical regions. The geographic regions that are tracked are the Americas (United States, Canada, Latin America), EMEA (Europe, Middle East, Africa) and APJ (Australia, New Zealand, Southeast Asia, China). We operate in one segment.


	Three Months Ended September 30, 2020
	Americas		EMEA		APJ		Total
Software and Products Revenue	$	39,241	$	22,063	$	11,005	$	72,309
Customer Support Revenue	54,177		24,911		10,359		89,447
Other Services Revenue	4,794		3,084		1,505		9,383
Total Revenue	$	98,212	$	50,058	$	22,869	$	171,139


	Three Months Ended September 30, 2019
	Americas		EMEA		APJ		Total
Software and Products Revenue	$	35,863	$	21,440	$	11,292	$	68,595
Customer Support Revenue	57,864		21,906		10,233		90,003
Other Services Revenue	4,430		2,680		1,874		8,984
Total Revenue	$	98,157	$	46,026	$	23,399	$	167,582


	Six Months Ended September 30, 2020
	Americas		EMEA		APJ		Total
Software and Products Revenue	$	89,886	$	40,858	$	18,119	$	148,863
Customer Support Revenue	109,415		48,221		20,454		178,090
Other Services Revenue	8,907		5,639		2,640		17,186
Total Revenue	$	208,208	$	94,718	$	41,213	$	344,139


	Six Months Ended September 30, 2019
	Americas		EMEA		APJ		Total
Software and Products Revenue	$	67,084	$	42,815	$	22,370	$	132,269
Customer Support Revenue	115,594		43,573		20,318		179,485
Other Services Revenue	9,296		5,362		3,373		18,031
Total Revenue	$	191,974	$	91,750	$	46,061	$	329,785

Information about Contract Balances

Amounts collected in advance of services being provided are accounted for as deferred revenue. Nearly all of our deferred revenue balance is related to services revenue, primarily customer support contracts.

In some arrangements we allow customers to pay for term-based software licenses and products over the term of the software license. Amounts recognized as revenue in excess of amounts billed are recorded as unbilled receivables. Unbilled receivables, which are anticipated to be invoiced in the next twelve months, are included in Accounts receivable on the Consolidated Balance Sheets. Long-term unbilled receivables are included in Other assets. The opening and closing balances of our accounts receivable, unbilled receivables, and deferred revenues are as follows:


	Accounts Receivable		Unbilled Receivable (current)		Unbilled Receivable (long-term)		Deferred Revenue (current)		Deferred Revenue (long-term)
Opening Balance as of March 31, 2020	$	129,856	$	17,134	$	7,857	$	233,497	$	92,723
Increase/(decrease), net	(12,135)		4,102		3,736		(5,720)		4,783
Ending Balance as of September 30, 2020	$	117,721	$	21,236	$	11,593	$	227,777	$	97,506

The decrease in accounts receivable (inclusive of unbilled receivables) is a result of a concentration of customer support renewals in the second half of the prior fiscal year. The decrease in deferred revenue is primarily due to the decrease in deferred customer support revenue related to software and products revenue transactions and customer support renewals relative to the fourth quarter of fiscal 2020.

The amount of revenue recognized in the period that was included in the March 31, 2020 balance of deferred revenue was $69,025 and $155,728 for the three and six months ended September 30, 2020. The vast majority of this revenue consists of customer support arrangements. The amount of software and products revenue recognized in the three and six months ended September 30, 2020 related to performance obligations from prior periods was not significant.

Remaining Performance Obligations

In addition to the amounts included in deferred revenue as of September 30, 2020, $32,238 of revenue may be recognized from remaining performance obligations, of which approximately $3,000 was related to software and products. We expect the majority of this software and products revenue to be recognized during the three months ended December 31, 2020. The vast majority of the services revenue is related to other professional services which may be recognized over the next twelve months but is contingent upon a number of factors, including customers’ needs and schedules.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Name Accounting Standards Codification
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+ Details

Goodwill and Intangible Assets, Net

6 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

Goodwill

There were no additions, impairments or any other changes to the carrying amount of goodwill during the three and six months ended September 30, 2020.

Intangible assets, net

Intangible assets subject to amortization as of September 30, 2020 are as follows:


	Gross Carrying Amount		Accumulated Amortization		Impairment Charge		Net Carrying Value
Developed technology	$	49,000	$	(9,800)	$	(39,200)	$	—
Customer relationships	3,000		(1,500)		(1,500)		—
Total intangible assets, net	$	52,000	$	(11,300)	$	(40,700)	$	—

Amortization expense from acquired intangible assets was $2,825 and $5,650 for the three and six months ended September 30, 2020, respectively. There were no intangible assets subject to amortization for the three and six months ended September 30, 2019.

Our intangible assets (developed technology and customer relationships) were acquired in connection with the Hedvig, Inc. ("Hedvig") transaction. The most material of these assets was the developed technology. The value of this asset was attributable to forecasted incremental revenues directly attributable to this technology. While we have successfully integrated this technology into our existing Hyperscale technology, we have not met our forecasts for standalone sales of this acquired technology. During the second quarter of fiscal year 2021 we identified an indicator of impairment and concluded that the carrying values of the developed technology and customer relationships acquired in connection with the Hedvig transaction were not recoverable on an undiscounted basis. As a result, we remeasured the fair value of these assets and concluded their value was de minimis. We recorded a $40,700 impairment charge in the accompanying Consolidated Statements of Operations for the three months ended September 30, 2020. These non-recurring fair value measurements were categorized as Level 3, as significant unobservable inputs were used in the valuation analysis. Key assumptions used in the valuation include forecasts of revenue and expenses over an extended period, the useful life of the asset, tax rates, and estimated costs of debt and equity capital to discount the projected cash flows. Certain of these assumptions involve significant judgment and are based on management’s estimate of current and forecasted market conditions.

Net Income per Common Share	6 Months Ended
Net Income per Common Share	Sep. 30, 2020
Earnings Per Share [Abstract]
Net Income per Common Share	Net Income per Common ShareThe diluted weighted-average shares outstanding exclude outstanding stock options, restricted stock units, performance restricted stock units and shares to be purchased under the employee stock purchase plan totaling 5,040 and 4,780 for the three months ended September 30, 2020 and 2019, respectively, and 5,031 and 4,810 for the six months ended September 30, 2020 and 2019 because the effect would have been anti-dilutive.

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies From time to time, we are subject to claims in legal proceedings arising in the normal course of business. 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.

Capitalization	6 Months Ended
Capitalization	Sep. 30, 2020
Equity [Abstract]
Capitalization	Capitalization As of September 30, 2020, $162,829 remained in our current stock repurchase authorization which expires on March 31, 2021. Subsequent Event On October 22, 2020, the Board of Directors authorized an increase to the existing share repurchase program so that $200,000 was available. The authorization will expire on March 31, 2022.

Stock Plans

6 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

Stock Plans

The following table presents the stock-based compensation expense included in Cost of services revenue, Sales and marketing, Research and development, General and administrative expenses and Restructuring expenses for the three and six months ended September 30, 2020 and 2019. Stock-based compensation is attributable to stock options, restricted stock units, performance based awards and the employee stock purchase plan.


	Three Months Ended September 30,				Six Months Ended September 30,
	2020		2019		2020		2019
Cost of services revenue	$	740	$	698	$	1,406	$	1,388
Sales and marketing	8,988		7,359		16,192		15,005
Research and development	5,578		2,011		11,519		4,004
General and administrative	4,631		4,184		9,714		8,237
Restructuring	647		605		704		973
Stock-based compensation expense	$	20,584	$	14,857	$	39,535	$	29,607

As of September 30, 2020, there was $110,911 of unrecognized stock-based compensation expense related to restricted stock unit awards that is expected to be recognized over a weighted-average period of 1.90 years. We account for forfeitures as they occur. To the extent that awards are forfeited, stock-based compensation will be different from our current estimate.

Stock option activity was not significant in the three and six months ended September 30, 2020.

Restricted Stock Units

Restricted stock unit activity for the six months ended September 30, 2020 is as follows:


Non-vested Restricted Stock Units	Number of Awards	Weighted- Average Grant Date Fair Value
Non-vested as of March 31, 2020	3,237	$	50.47
Awarded	857	37.42
Vested	(521)	55.29
Forfeited	(189)	52.45
Non-vested as of September 30, 2020	3,384	$	46.38

The weighted-average fair value of restricted stock units awarded was $42.02 and $37.42 per unit during the three and six months ended September 30, 2020, and $43.39 and $48.17 per unit during the three and six months ended September 30, 2019. The weighted-average fair value of awards includes the awards with a market condition described below.

Awards with a Market Condition

In the six months ended September 30, 2020, we granted 299 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% (598 shares) based on TSR performance. The related stock-based compensation expense is determined based on the estimated fair value of the underlying shares on the date of grant and is recognized using the accelerated method over the vesting term. The estimated fair value was calculated using a Monte Carlo simulation model. The fair value of the awards granted during the six months ended September 30, 2020 was $36.76 per unit. The awards are included in the restricted stock unit table above.

Employee Stock Purchase Plan

The Employee Stock Purchase Plan (the "Purchase Plan") is a shareholder approved plan under which substantially all employees may purchase Commvault’s common stock through payroll deductions at a price equal to 85% of the lower of the fair market values of the stock as of the beginning or the end of the six-month offering periods. An employee’s payroll deductions under the Purchase Plan are limited to 10% of the employee’s salary and employees may not purchase more than $25 of stock during any calendar year. Employees purchased 129 shares in exchange for $4,652 of proceeds in the six months ended September 30, 2020 and 136 shares in exchange for $4,833 in the six months ended September 30, 2019. The total expense associated with the Purchase Plan was $1,511 for the six months ended September 30, 2020 and $1,521 for the six months ended September 30, 2019.

Income Taxes	6 Months Ended
Income Taxes	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesIncome tax expense was $4,211 in the six months ended September 30, 2020 compared to expense of $2,571 in the six months ended September 30, 2019. In the fourth quarter of fiscal 2020, we recorded a current tax benefit of approximately $10,000 which represented our estimate of the net operating loss carryback resulting from the CARES Act. In the first quarter of fiscal 2021, we recorded an adjustment of $3,200 to reduce the current benefit of the net operating loss carryback benefit we will realize from the CARES Act. In fiscal 2018, we determined that it was more likely than not that we will not realize the benefits of our gross deferred tax assets and therefore recorded a valuation allowance to reduce the carrying value of these gross deferred tax assets, net of the impact of the reversal of taxable temporary differences, to zero. Our position remains unchanged with respect to the realizability of our deferred tax assets as of September 30, 2020.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Restructuring

6 Months Ended

Sep. 30, 2020

Restructuring and Related Activities [Abstract]

Restructuring

Our restructuring plan, initiated in the first quarter of fiscal 2019, is aimed to increase efficiency in our sales, marketing and distribution functions as well as reduce costs across all functional areas. These restructuring charges relate primarily to severance and related costs associated with headcount reductions and lease abandonment charges.

During the three months ended September 30, 2020 and 2019, we incurred total restructuring charges of $5,767 and $12,851, respectively. These restructuring charges include $647 and $605 of stock-based compensation related to modifications of existing unvested awards granted to certain employees impacted by the restructuring plan for the three months ended September 30, 2020 and 2019, respectively.

During the six months ended September 30, 2020 and 2019, we incurred total restructuring charges of $8,091 and $16,930, respectively. These charges include $704 and $973 of stock-based compensation related to modifications of existing unvested awards granted to certain employees impacted by the restructuring plan for the six months ended September 30, 2020 and 2019, respectively.

The activity in our restructuring accruals for the three and six months ended September 30, 2020 and 2019 is summarized as follows:


	Three Months Ended September 30,
	2020		2019
Balance as of June 30,	$	3,228	$	2,218
Restructuring charges, net (1)	4,895		11,132
Payments	(3,085)		(2,992)
Balance as of September 30,	$	5,038	$	10,358


	Six Months Ended September 30,
	2020		2019
Balance as of March 31,	$	2,531	$	1,089
Restructuring charges, net (1)	6,695		13,907
Payments	(4,188)		(4,638)
Balance as of September 30,	$	5,038	$	10,358

(1) Net restructuring charges of $4,895 and $6,695 in the tables above excludes restructuring charges for three of our leases in the amount of $225 and five in the amount of $692 for the three and six months ended September 30, 2020, respectively. It also excludes stock-based compensation related to modifications for the three and six months ended September 30, 2020 of $647 and $704, respectively. Net restructuring charges of $11,132 and $13,907 in the tables above excludes restructuring charges for one of our leases in the amount of $1,114 and three in the amount of $2,050 for the three and six months ended September 30, 2019, respectively. It also excludes stock-based compensation related to modifications for the three and six months ended September 30, 2019 of $605 and $973, respectively.

As of September 30, 2020, the outstanding restructuring accruals primarily relate to future severance payments.

Summary of Significant Accounting Policies (Policies)

6 Months Ended

Sep. 30, 2020

Accounting Policies [Abstract]

Basis of Presentation

The consolidated financial statements of Commvault as of September 30, 2020 and for the three and six months ended September 30, 2020 and 2019 are unaudited, and in the opinion of management, include all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of the results for the interim periods. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles (“U.S. GAAP”) for complete financial statements and should be read in conjunction with the financial statements and notes in our Annual Report on Form 10-K for fiscal 2020. The results reported in these financial statements should not necessarily be taken as indicative of results that may be expected for the entire fiscal year.

Use of Estimates

The preparation of financial statements and related disclosures in conformity with U.S. GAAP requires management to make judgments and estimates that affect the amounts reported in our consolidated financial statements and the accompanying notes. We base our estimates and judgments on historical experience and on various other assumptions that we believe are reasonable under the circumstances. The amounts of assets and liabilities reported in our balance sheets and the amounts of revenues and expenses reported for each of our periods presented are affected by estimates and assumptions, which are used for, but not limited to, the accounting for revenue recognition, income taxes and related reserves, and goodwill and purchased intangible assets. Actual results could differ from those estimates.

Recently Issued Accounting Standards

Recently Adopted Accounting Standards


Standard	Description	Effective Date	Effect on the Consolidated Financial Statements (or Other Significant Matters)
Accounting Standards Update ("ASU") No. 2016-13 (Topic 326), Financial Instruments-Credit Losses	The standard amends guidance on the impairment of financial instruments. The ASU estimates credit losses based on expected losses and provides for a simplified accounting model for purchased financial assets with credit deterioration. The standard requires a modified retrospective basis adoption through a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption.	We adopted this new standard as of April 1, 2020, using the modified retrospective method recognized as of the date of initial application.	The adoption of this new standard resulted in an $84 thousand cumulative effect on our unaudited consolidated financial statements related to an adjustment to our allowance for doubtful accounts. Under the new standard, we assess credit losses on accounts receivable by taking into consideration past collection experience, credit quality of the customer, age of the receivable balance, current economic conditions, and forecasts that affect the collectability of the reported amount.

Recently Issued Accounting Standards Not Yet Adopted


Standard	Description	Effective Date	Effect on the Consolidated Financial Statements (or Other Significant Matters)
ASU No. 2019-12 (Topic 740), Income Taxes	In December 2019, the Financial Accounting Standards Board ("FASB") issued a new standard to simplify the accounting for income taxes. The guidance eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences related to changes in ownership of equity method investments and foreign subsidiaries. The guidance also simplifies aspects of accounting for franchise taxes and enacted changes in tax laws or rates, and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill.	The standard will be effective for us beginning April 1, 2021, with early adoption permitted.	We are currently evaluating the impact of this standard in our consolidated financial statements, including accounting policies, processes, and systems.

Concentration of Credit Risk

We grant credit to customers in a wide variety of industries worldwide and generally do not require collateral. Credit losses relating to these customers have historically been minimal.

Fair Value of Financial Instruments

Revenue

Our typical performance obligations include the following:We disaggregate revenue from contracts with customers into the nature of the products and services and geographical regions. The geographic regions that are tracked are the Americas (United States, Canada, Latin America), EMEA (Europe, Middle East, Africa) and APJ (Australia, New Zealand, Southeast Asia, China).Amounts collected in advance of services being provided are accounted for as deferred revenue. Nearly all of our deferred revenue balance is related to services revenue, primarily customer support contracts. In some arrangements we allow customers to pay for term-based software licenses and products over the term of the software license. Amounts recognized as revenue in excess of amounts billed are recorded as unbilled receivables. Unbilled receivables, which are anticipated to be invoiced in the next twelve months, are included in Accounts receivable on the Consolidated Balance Sheets. Long-term unbilled receivables are included in Other assets.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

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+ Details

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Sep. 30, 2020

Accounting Policies [Abstract]

Recently Adopted Accounting Standards and Recently Issued Accounting Standards Not Yet Adopted

Recently Adopted Accounting Standards


Standard	Description	Effective Date	Effect on the Consolidated Financial Statements (or Other Significant Matters)
Accounting Standards Update ("ASU") No. 2016-13 (Topic 326), Financial Instruments-Credit Losses	The standard amends guidance on the impairment of financial instruments. The ASU estimates credit losses based on expected losses and provides for a simplified accounting model for purchased financial assets with credit deterioration. The standard requires a modified retrospective basis adoption through a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption.	We adopted this new standard as of April 1, 2020, using the modified retrospective method recognized as of the date of initial application.	The adoption of this new standard resulted in an $84 thousand cumulative effect on our unaudited consolidated financial statements related to an adjustment to our allowance for doubtful accounts. Under the new standard, we assess credit losses on accounts receivable by taking into consideration past collection experience, credit quality of the customer, age of the receivable balance, current economic conditions, and forecasts that affect the collectability of the reported amount.

Recently Issued Accounting Standards Not Yet Adopted


Standard	Description	Effective Date	Effect on the Consolidated Financial Statements (or Other Significant Matters)
ASU No. 2019-12 (Topic 740), Income Taxes	In December 2019, the Financial Accounting Standards Board ("FASB") issued a new standard to simplify the accounting for income taxes. The guidance eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences related to changes in ownership of equity method investments and foreign subsidiaries. The guidance also simplifies aspects of accounting for franchise taxes and enacted changes in tax laws or rates, and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill.	The standard will be effective for us beginning April 1, 2021, with early adoption permitted.	We are currently evaluating the impact of this standard in our consolidated financial statements, including accounting policies, processes, and systems.

Financial Assets Measured at Fair Value

The following table summarizes the composition of our financial assets and liabilities measured at fair value on a recurring basis at September 30, 2020 and March 31, 2020:


September 30, 2020	Level 1		Level 2	Level 3	Total

Short-term investments	$	—	10,996	—	$	10,996


March 31, 2020	Level 1		Level 2	Level 3	Total

Short-term investments	$	—	44,484	—	$	44,484

Revenue (Tables)

6 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

Our typical performance obligations include the following:


Performance Obligation	When Performance Obligation is Typically Satisfied	When Payment is Typically Due	How Standalone Selling Price is Typically Estimated
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
Appliances	When control of the appliances passes to the customer; typically upon delivery	Within 90 days of delivery	Residual approach
Customer Support Revenue
Software Updates	Ratably over the course of the support contract (over time)	At the beginning of the contract period	Observable in renewal transactions
Customer Support	Ratably over the course of the support contract (over time)	At the beginning of the contract period	Observable in renewal transactions
Other Services Revenue
Other Professional Services (except for education services)	As work is performed (over time)	Within 90 days of services being performed	Observable in transactions without multiple performance obligations
Education Services	When the class is taught (point in time)	Within 90 days of services being performed	Observable in transactions without multiple performance obligations
Software-as-a-service (Metallic)	Ratably over the course of the contract (over time)	Annual or monthly payments	Observable in transactions without multiple performance obligations

Disaggregation of Revenue


	Three Months Ended September 30, 2020
	Americas		EMEA		APJ		Total
Software and Products Revenue	$	39,241	$	22,063	$	11,005	$	72,309
Customer Support Revenue	54,177		24,911		10,359		89,447
Other Services Revenue	4,794		3,084		1,505		9,383
Total Revenue	$	98,212	$	50,058	$	22,869	$	171,139


	Three Months Ended September 30, 2019
	Americas		EMEA		APJ		Total
Software and Products Revenue	$	35,863	$	21,440	$	11,292	$	68,595
Customer Support Revenue	57,864		21,906		10,233		90,003
Other Services Revenue	4,430		2,680		1,874		8,984
Total Revenue	$	98,157	$	46,026	$	23,399	$	167,582


	Six Months Ended September 30, 2020
	Americas		EMEA		APJ		Total
Software and Products Revenue	$	89,886	$	40,858	$	18,119	$	148,863
Customer Support Revenue	109,415		48,221		20,454		178,090
Other Services Revenue	8,907		5,639		2,640		17,186
Total Revenue	$	208,208	$	94,718	$	41,213	$	344,139


	Six Months Ended September 30, 2019
	Americas		EMEA		APJ		Total
Software and Products Revenue	$	67,084	$	42,815	$	22,370	$	132,269
Customer Support Revenue	115,594		43,573		20,318		179,485
Other Services Revenue	9,296		5,362		3,373		18,031
Total Revenue	$	191,974	$	91,750	$	46,061	$	329,785

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 (current)		Unbilled Receivable (long-term)		Deferred Revenue (current)		Deferred Revenue (long-term)
Opening Balance as of March 31, 2020	$	129,856	$	17,134	$	7,857	$	233,497	$	92,723
Increase/(decrease), net	(12,135)		4,102		3,736		(5,720)		4,783
Ending Balance as of September 30, 2020	$	117,721	$	21,236	$	11,593	$	227,777	$	97,506

Goodwill and Intangible Assets, Net (Tables)

6 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Purchased Intangible Assets, Net of Amortization

Intangible assets subject to amortization as of September 30, 2020 are as follows:


	Gross Carrying Amount		Accumulated Amortization		Impairment Charge		Net Carrying Value
Developed technology	$	49,000	$	(9,800)	$	(39,200)	$	—
Customer relationships	3,000		(1,500)		(1,500)		—
Total intangible assets, net	$	52,000	$	(11,300)	$	(40,700)	$	—

Stock Plans (Tables)

6 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense


	Three Months Ended September 30,				Six Months Ended September 30,
	2020		2019		2020		2019
Cost of services revenue	$	740	$	698	$	1,406	$	1,388
Sales and marketing	8,988		7,359		16,192		15,005
Research and development	5,578		2,011		11,519		4,004
General and administrative	4,631		4,184		9,714		8,237
Restructuring	647		605		704		973
Stock-based compensation expense	$	20,584	$	14,857	$	39,535	$	29,607

Schedule of Restricted Stock Unit Activity

Restricted stock unit activity for the six months ended September 30, 2020 is as follows:


Non-vested Restricted Stock Units	Number of Awards	Weighted- Average Grant Date Fair Value
Non-vested as of March 31, 2020	3,237	$	50.47
Awarded	857	37.42
Vested	(521)	55.29
Forfeited	(189)	52.45
Non-vested as of September 30, 2020	3,384	$	46.38

Restructuring (Tables)

6 Months Ended

Sep. 30, 2020

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

The activity in our restructuring accruals for the three and six months ended September 30, 2020 and 2019 is summarized as follows:


	Three Months Ended September 30,
	2020		2019
Balance as of June 30,	$	3,228	$	2,218
Restructuring charges, net (1)	4,895		11,132
Payments	(3,085)		(2,992)
Balance as of September 30,	$	5,038	$	10,358


	Six Months Ended September 30,
	2020		2019
Balance as of March 31,	$	2,531	$	1,089
Restructuring charges, net (1)	6,695		13,907
Payments	(4,188)		(4,638)
Balance as of September 30,	$	5,038	$	10,358

Summary of Significant Accounting Policies - Concentration of Credit Risk (Details) - Customer Concentration Risk	6 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Mar. 31, 2020
Arrow \| Revenue
Concentration Risk [Line Items]
Concentration risk percentage	36.00%	37.00%
Arrow \| Accounts receivable
Concentration Risk [Line Items]
Concentration risk percentage	26.00%		31.00%
Tech Data \| Accounts receivable
Concentration Risk [Line Items]
Concentration risk percentage	11.00%

Summary of Significant Accounting Policies - Summary of Fair Value of Financial Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Mar. 31, 2020
Assets:
Short-term investments	$ 10,996	$ 44,484
Level 1
Assets:
Short-term investments	0	0
Level 2
Assets:
Short-term investments	10,996	44,484
Level 3
Assets:
Short-term investments	$ 0	$ 0

Revenue - Additional Information (Details) $ in Thousands	3 Months Ended	6 Months Ended
Revenue - Additional Information (Details) $ in Thousands	Sep. 30, 2020 USD ($)	Sep. 30, 2020 USD ($) revenue_source segment
Revenue from Contract with Customer [Abstract]
Sources of primary revenue \| revenue_source		2
Customer support agreement term		1 year
Number of operating segments \| segment		1
Revenue recognized in period, included in opening deferred revenue balance	$ 69,025	$ 155,728
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized from remaining performance obligations	32,238	32,238
Software and Products Revenue
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized from remaining performance obligations	$ 3,000	$ 3,000

Revenue - Performance Obligations (Details)	6 Months Ended
Revenue - Performance Obligations (Details)	Sep. 30, 2020
Software, licenses
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, expected payment terms	90 days
Software, appliances
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, expected payment terms	90 days
Other Professional Services
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, expected payment terms	90 days
Professional Services, education services
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, expected payment terms	90 days

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Total Revenue	$ 171,139	$ 167,582	$ 344,139	$ 329,785
Americas
Disaggregation of Revenue [Line Items]
Total Revenue	98,212	98,157	208,208	191,974
EMEA
Disaggregation of Revenue [Line Items]
Total Revenue	50,058	46,026	94,718	91,750
APJ
Disaggregation of Revenue [Line Items]
Total Revenue	22,869	23,399	41,213	46,061
Software and Products Revenue
Disaggregation of Revenue [Line Items]
Total Revenue	72,309	68,595	148,863	132,269
Software and Products Revenue \| Americas
Disaggregation of Revenue [Line Items]
Total Revenue	39,241	35,863	89,886	67,084
Software and Products Revenue \| EMEA
Disaggregation of Revenue [Line Items]
Total Revenue	22,063	21,440	40,858	42,815
Software and Products Revenue \| APJ
Disaggregation of Revenue [Line Items]
Total Revenue	11,005	11,292	18,119	22,370
Customer Support Revenue
Disaggregation of Revenue [Line Items]
Total Revenue	89,447	90,003	178,090	179,485
Customer Support Revenue \| Americas
Disaggregation of Revenue [Line Items]
Total Revenue	54,177	57,864	109,415	115,594
Customer Support Revenue \| EMEA
Disaggregation of Revenue [Line Items]
Total Revenue	24,911	21,906	48,221	43,573
Customer Support Revenue \| APJ
Disaggregation of Revenue [Line Items]
Total Revenue	10,359	10,233	20,454	20,318
Other Services Revenue
Disaggregation of Revenue [Line Items]
Total Revenue	9,383	8,984	17,186	18,031
Other Services Revenue \| Americas
Disaggregation of Revenue [Line Items]
Total Revenue	4,794	4,430	8,907	9,296
Other Services Revenue \| EMEA
Disaggregation of Revenue [Line Items]
Total Revenue	3,084	2,680	5,639	5,362
Other Services Revenue \| APJ
Disaggregation of Revenue [Line Items]
Total Revenue	$ 1,505	$ 1,874	$ 2,640	$ 3,373

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Revenue - Opening and Closing Balances of Accounts Receivable, Unbilled Receivables, and Deferred Revenues (Details) $ in Thousands	6 Months Ended
	Sep. 30, 2020 USD ($)
Accounts Receivable
Opening Balance as of March 31, 2020	$ 129,856
Increase/(decrease), net	(12,135)
Ending Balance as of September 30, 2020	117,721
Unbilled Receivable (current)
Opening Balance as of March 31, 2020	17,134
Increase/(decrease), net	4,102
Ending Balance as of September 30, 2020	21,236
Unbilled Receivable (long-term)
Opening Balance as of March 31, 2020	7,857
Increase/(decrease), net	3,736
Ending Balance as of September 30, 2020	11,593
Deferred Revenue (current)
Opening Balance as of March 31, 2020	233,497
Increase/(decrease), net	(5,720)
Ending Balance as of September 30, 2020	227,777
Deferred Revenue (long-term)
Opening Balance as of March 31, 2020	92,723
Increase/(decrease), net	4,783
Ending Balance as of September 30, 2020	$ 97,506

Goodwill and Intangible Assets, Net - Goodwill (Details) - USD ($)	3 Months Ended	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill addition	$ 0	$ 0
Goodwill impairment	$ 0	$ 0

Goodwill and Intangible Assets, Net - Intangible Assets, Net (Details) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 52,000,000		$ 52,000,000
Accumulated Amortization	(11,300,000)		(11,300,000)
Impairment Charge	(40,700,000)	$ 0	(40,700,000)	$ 0
Net Carrying Value	0		0
Amortization of intangible assets	2,825,000	$ 0	5,650,000	$ 0
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	49,000,000		49,000,000
Accumulated Amortization	(9,800,000)		(9,800,000)
Impairment Charge			(39,200,000)
Net Carrying Value	0		0
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,000,000		3,000,000
Accumulated Amortization	(1,500,000)		(1,500,000)
Impairment Charge			(1,500,000)
Net Carrying Value	$ 0		$ 0

Net Income per Common Share (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation (in shares)	5,040	4,780	5,031	4,810

Capitalization - Additional Information (Details) $ in Thousands	Sep. 30, 2020 USD ($)
Common stock repurchase program
Class of Stock [Line Items]
Remaining amount available under share repurchase program	$ 162,829

Stock Plans - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 20,584	$ 14,857	$ 39,535	$ 29,607
Cost of services revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	740	698	1,406	1,388
Sales and marketing
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	8,988	7,359	16,192	15,005
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	5,578	2,011	11,519	4,004
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	4,631	4,184	9,714	8,237
Restructuring
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 647	$ 605	$ 704	$ 973

Stock Plans - Additional Information (Details) - Restricted stock units $ in Thousands	6 Months Ended
	Sep. 30, 2020 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense, net of estimated forfeitures	$ 110,911
Weighted average period awards are expected to be recognized	1 year 10 months 24 days

Stock Plans - Restricted Stock Units (Details) - $ / shares shares in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Weighted- Average Grant Date Fair Value
Awarded (in dollars per share)		$ 43.39		$ 48.17
Weighted-average fair value, units awarded (in dollars per share)		$ 43.39		$ 48.17
Restricted stock units
Number of Awards
Non-vested, beginning balance (in shares)			3,237
Awarded (in shares)			857
Vested (in shares)			(521)
Forfeited (in shares)			(189)
Non-vested, ending balance (in shares)	3,384		3,384
Weighted- Average Grant Date Fair Value
Non-vested, beginning balance (in dollars per share)			$ 50.47
Awarded (in dollars per share)	$ 42.02		37.42
Vested (in dollars per share)			55.29
Forfeited (in dollars per share)			52.45
Non-vested, ending balance (in dollars per share)	46.38		46.38
Weighted-average fair value, units awarded (in dollars per share)	$ 42.02		$ 37.42

Stock Plans - Awards with a Market Condition (Details) shares in Thousands	3 Months Ended	6 Months Ended
	Sep. 30, 2019 $ / shares	Sep. 30, 2020 tranche $ / shares shares	Sep. 30, 2019 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average fair value, units awarded (in dollars per share) \| $ / shares	$ 43.39		$ 48.17
Market performance shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awarded (in shares) \| shares		299
Service period		3 years
Number of annual tranches \| tranche		3
Maximum potential to vest (as a percentage)		200.00%
Maximum potential to vest (in shares) \| shares		598
Weighted-average fair value, units awarded (in dollars per share) \| $ / shares		$ 36.76

Stock Plans - Employee Stock Purchase plan (Details) - Employee Stock [Member] - USD ($) shares in Thousands, $ in Thousands	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price as a percentage of fair market value	85.00%
Maximum employee payroll percent deduction of salary	10.00%
Maximum amount of stock purchasable by employees within a calendar year	$ 25
Number of shares purchased by employees (in shares)	129	136
Proceeds received	$ 4,652	$ 4,833
Compensation expense	$ 1,511	$ 1,521
Share-based Compensation Arrangement By Share-based Payment Award, Offering Period	6 months

Income Taxes (Details) - USD ($)	3 Months Ended				6 Months Ended
Income Taxes (Details) - USD ($)	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ (532,000)			$ 476,000	$ 4,211,000	$ 2,571,000
Current tax benefit			$ 10,000,000
Adjustment of current income tax benefit		$ 3,200,000
Deferred tax assets							$ 0

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Restructuring - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring charges incurred	$ 5,767	$ 12,851	$ 8,091	$ 16,930
Modification of existing unvested awards
Restructuring Cost and Reserve [Line Items]
Restructuring charges incurred	$ 647	$ 605	$ 704	$ 973

Restructuring - Activity in Restructuring Accruals (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020 USD ($) lease	Sep. 30, 2019 USD ($) lease	Sep. 30, 2020 USD ($) lease	Sep. 30, 2019 USD ($) lease
Restructuring Reserve [Roll Forward]
Balance at beginning of period	$ 3,228	$ 2,218	$ 2,531	$ 1,089
Restructuring charges, net	4,895	11,132	6,695	13,907
Payments	(3,085)	(2,992)	(4,188)	(4,638)
Balance at end of period	$ 5,038	$ 10,358	$ 5,038	$ 10,358
Restructuring charges, number of leases \| lease	3	1	5	3
Operating lease impairment excluded from restructuring charges	$ 225	$ 1,114	$ 692	$ 2,050
Restructuring Cost and Reserve [Line Items]
Restructuring charges incurred	5,767	12,851	8,091	16,930
Modification of existing unvested awards
Restructuring Cost and Reserve [Line Items]
Restructuring charges incurred	$ 647	$ 605	$ 704	$ 973

Subsequent Events (Details) $ in Thousands	Oct. 22, 2020 USD ($)
Subsequent Event
Subsequent Event [Line Items]
Share repurchase program, amount available	$ 200