0001169561-26-000035 | 10-Q | XBRL Viewer

Fair Value Measurements - Schedule of Financial Assets Measured at Fair value on a Recurring Basis (Details) - Money market funds - USD ($) $ in Thousands	Sep. 30, 2026	Mar. 31, 2026
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash equivalents	$ 523,648	$ 540,146
Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash equivalents	523,648	540,146
Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash equivalents	0	0
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash equivalents	$ 0	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Revenue - Schedule of Opening and Closing Balances of Accounts Receivables, Unbilled Receivables, and Deferred Revenues (Details) $ in Thousands	6 Months Ended
	Sep. 30, 2026 USD ($)
Accounts Receivable and Unbilled Receivable (Current)
Opening Balance	$ 330,483
Ending Balance	280,575
Unbilled Receivable (Long-Term)
Opening Balance	44,809
Increase/(decrease)	22,594
Ending Balance	67,403
Deferred Revenue (Current)
Opening Balance	484,973
Increase/(decrease)	(12,227)
Ending Balance	472,746
Deferred Revenue (Long-Term)
Opening Balance	293,725
Increase/(decrease)	(2,611)
Ending Balance	291,114
Billed Revenues
Accounts Receivable and Unbilled Receivable (Current)
Opening Balance	283,454
Increase/(decrease)	(65,441)
Ending Balance	218,013
Unbilled Revenues
Accounts Receivable and Unbilled Receivable (Current)
Opening Balance	47,029
Increase/(decrease)	15,533
Ending Balance	$ 62,562

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Revenues:
Total revenues	$ 312,389	$ 276,188	$ 626,520	$ 558,166
Cost of revenues:
Total cost of revenues	58,870	55,044	116,479	105,821
Gross margin	253,519	221,144	510,041	452,345
Operating expenses:
Sales and marketing	135,529	122,240	275,324	244,719
Research and development	42,292	39,859	81,834	79,921
General and administrative	42,211	42,553	88,962	83,823
Depreciation and amortization	2,786	2,572	5,105	5,179
Restructuring	324	1,429	2,720	1,666
Change in contingent consideration	0	0	0	(545)
Total operating expenses	223,142	208,653	453,945	414,763
Income from operations	30,377	12,491	56,096	37,582
Interest income	8,439	3,087	16,126	5,096
Interest expense	(1,482)	(637)	(2,955)	(915)
Other income, net	1,420	159	1,689	220
Income before income taxes	38,754	15,100	70,956	41,983
Income tax expense	9,643	370	20,706	3,757
Net income	$ 29,111	$ 14,730	$ 50,250	$ 38,226
Net income per common share:
Basic (in dollars per share)	$ 0.71	$ 0.33	$ 1.22	$ 0.86
Diluted (in dollars per share)	$ 0.69	$ 0.33	$ 1.19	$ 0.84
Weighted average common shares outstanding:
Basic (in shares)	41,261	44,406	41,303	44,366
Diluted (in shares)	42,221	45,195	42,057	45,264
Total subscription
Revenues:
Total revenues	$ 268,512	$ 222,351	$ 535,539	$ 451,660
Term-based license
Revenues:
Total revenues	105,002	92,647	215,422	201,929
Cost of revenues:
Total cost of revenues	3,465	2,414	7,708	4,656
Term-based support
Revenues:
Total revenues	57,307	49,686	113,364	97,268
Software-as-a-service
Revenues:
Total revenues	106,203	80,018	206,753	152,463
Cost of revenues:
Total cost of revenues	31,812	29,187	61,464	55,159
Perpetual license
Revenues:
Total revenues	7,205	12,073	15,900	19,408
Cost of revenues:
Total cost of revenues	228	194	399	439
Perpetual support
Revenues:
Total revenues	23,482	30,543	48,957	61,982
Customer support
Cost of revenues:
Total cost of revenues	14,347	14,847	29,046	29,054
Other services
Revenues:
Total revenues	13,190	11,221	26,124	25,116
Cost of revenues:
Total cost of revenues	$ 9,018	$ 8,402	$ 17,862	$ 16,513

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid – In Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Mar. 31, 2025		44,104
Beginning balance at Mar. 31, 2025	$ 325,122	$ 441	$ 1,474,377	$ (1,134,063)	$ (15,633)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	62,404		62,404
Purchase of capped calls, net of tax	(76,087)		(76,087)
Share issuance related to stock-based compensation (in shares)		766
Share issuance related to stock-based compensation	6,981	$ 7	6,974
Repurchase of common stock (in shares)		(819)
Repurchase of common stock	(146,704)	$ (8)	(7,939)	(138,757)
Net income	38,226			38,226
Other comprehensive income (loss)	518				518
Ending balance (in shares) at Sep. 30, 2025		44,051
Ending balance at Sep. 30, 2025	210,460	$ 440	1,459,729	(1,234,594)	(15,115)
Beginning balance (in shares) at Jun. 30, 2025		44,509
Beginning balance at Jun. 30, 2025	364,739	$ 445	1,503,817	(1,124,876)	(14,647)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	32,224		32,224
Purchase of capped calls, net of tax	(76,087)		(76,087)
Share issuance related to stock-based compensation (in shares)		279
Share issuance related to stock-based compensation	6,976	$ 2	6,974
Repurchase of common stock (in shares)		(737)
Repurchase of common stock	(131,654)	$ (7)	(7,199)	(124,448)
Net income	14,730			14,730
Other comprehensive income (loss)	(468)				(468)
Ending balance (in shares) at Sep. 30, 2025		44,051
Ending balance at Sep. 30, 2025	$ 210,460	$ 440	1,459,729	(1,234,594)	(15,115)
Beginning balance (in shares) at Mar. 31, 2026	41,255	41,255
Beginning balance at Mar. 31, 2026	$ 7,494	$ 412	1,495,597	(1,472,124)	(16,391)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	71,070		71,070
Share issuance related to stock-based compensation (in shares)		543
Share issuance related to stock-based compensation	$ 6,590	$ 6	6,584
Repurchase of common stock (in shares)	(906)	(906)
Repurchase of common stock	$ (120,123)	$ (9)	(9,013)	(111,101)
Net income	50,250			50,250
Other comprehensive income (loss)	$ (2,747)				(2,747)
Ending balance (in shares) at Sep. 30, 2026	40,892	40,892
Ending balance at Sep. 30, 2026	$ 12,534	$ 409	1,564,238	(1,532,975)	(19,138)
Beginning balance (in shares) at Jun. 30, 2026		41,430
Beginning balance at Jun. 30, 2026	52,051	$ 414	1,529,999	(1,460,227)	(18,135)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	35,780		35,780
Share issuance related to stock-based compensation (in shares)		270
Share issuance related to stock-based compensation	$ 6,587	$ 3	6,584
Repurchase of common stock (in shares)	(808)	(808)
Repurchase of common stock	$ (109,992)	$ (8)	(8,125)	(101,859)
Net income	29,111			29,111
Other comprehensive income (loss)	$ (1,003)				(1,003)
Ending balance (in shares) at Sep. 30, 2026	40,892	40,892
Ending balance at Sep. 30, 2026	$ 12,534	$ 409	$ 1,564,238	$ (1,532,975)	$ (19,138)

Revenue - Schedule of Performance Obligations (Details)	6 Months Ended
Revenue - Schedule of Performance Obligations (Details)	Sep. 30, 2026
Term-based software licenses
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, expected payment terms	90 days
Perpetual software licenses
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

Debt (Tables)

6 Months Ended

Sep. 30, 2026

Debt Disclosure [Abstract]

Schedule of Carrying Amount of the Notes

The net carrying amount of the Notes was as follows:


	September 30, 2026
Principal amount	$	900,000
Unamortized debt issuance costs	(17,011)
Net carrying amount	$	882,989

Schedule of Amortization of Debt Issuance Costs and Interest Expense

The amortization of debt issuance costs and interest expense related to the Credit Facility incurred for the three and six months ended September 30, 2026 and 2025 was as follows:


	Three Months Ended September 30,				Six Months Ended September 30,
	2026		2025		2026		2025
Amortization of debt issuance costs	$	103	$	102	$	204	$	187
Interest expense	269		192		534		360
Total charges	$	372	$	294	$	738	$	547

Net Income per Common Share - Additional Information (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation (in shares)	288	71	311	64

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2026	Sep. 30, 2025
Cash flows from operating activities
Net income	$ 50,250	$ 38,226
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	5,105	5,179
Amortization of debt issuance costs	2,330	494
Amortization of deferred commissions costs	30,417	22,210
Noncash stock-based compensation	71,070	62,404
Noncash operating lease expense	3,924	3,410
Noncash change in fair value of contingent consideration	0	(545)
Noncash adjustment on headquarters sale leaseback	0	495
Deferred income taxes	7,206	9,576
Other	(115)	(199)
Changes in operating assets and liabilities:
Trade accounts receivable, net	49,115	24,006
Other current assets and Other assets	(28,471)	(5,903)
Deferred commissions cost	(40,222)	(28,784)
Accounts payable	(165)	(88)
Accrued liabilities	(8,209)	(45,230)
Operating lease liabilities	(3,214)	(3,647)
Deferred revenue	(12,139)	27,953
Other liabilities	(414)	(1,107)
Net cash provided by operating activities	126,468	108,450
Cash flows from investing activities
Purchase of property and equipment	(4,501)	(5,066)
Purchase of investments	(8,039)	(6,626)
Proceeds from sale of headquarters, net	0	34,849
Business combination, net of cash acquired	0	(26,015)
Net cash used in investing activities	(12,540)	(2,858)
Cash flows from financing activities
Repurchase of common stock	(117,872)	(146,073)
Proceeds from stock-based compensation plans	6,585	6,974
Proceeds from issuance of convertible notes	0	900,000
Purchase of capped calls	0	(99,630)
Payment of debt issuance costs	0	(22,242)
Other	(188)	(30)
Net cash provided by (used in) financing activities	(111,475)	638,999
Effect of exchange rate changes on cash and cash equivalents	(5,190)	16,861
Net increase (decrease) in cash and cash equivalents	(2,737)	761,452
Cash and cash equivalents at beginning of period	899,987	302,103
Cash and cash equivalents at end of period	897,250	1,063,555
Supplemental disclosures of noncash activities
Operating lease liabilities arising from obtaining right-of-use assets	5,194	22,165
Debt issuance costs accrued but not paid, included in accrued liabilities	0	984
Share repurchases accrued but not paid, included in accrued liabilities	$ 1,419	$ 0

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Sep. 30, 2026
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company and certain current and former officers are named as defendants in actions filed by shareholders in May 2026 and July 2026 in the United States District Court for the District of New Jersey. The actions allege violations of the federal securities laws under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and Rule 10b-5. The actions seek declarations of the actions as class actions, unspecified monetary relief, and costs and fees. In May 2026 and August 2026, shareholder derivative actions were filed in the same court against certain officers and directors of the Company. The complaints allege claims of breach of fiduciary duty and violations of Section 14(a) of the Exchange Act on behalf of the Company, and seek equitable relief, unspecified monetary damages payable to the Company, and costs and fees. In August 2026, the court consolidated the derivative actions and stayed them pending developments in the securities actions. Based on the preliminary nature of these proceedings, the outcomes remain uncertain and the Company is unable to reasonably estimate the potential impact, if any, on its results of operations, financial condition, or cash flows. The Company has not recorded an accrual related to these proceedings as of September 30, 2026. Strategic Pricing and Packaging Initiative During the first quarter of fiscal 2027, we recognized expense of $6,500 under a performance-based arrangement related to a strategic pricing and packaging initiative. The arrangement included provisions for additional contingent fees payable upon the achievement of specified performance outcomes. During the second quarter of fiscal 2027, the arrangement was completed and the contingency was resolved with no additional amounts becoming payable.

Restructuring - Schedule of Restructuring Charges (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Restructuring Cost and Reserve [Line Items]
Employee severance and related costs			$ 1,383
Total restructuring charges	$ 324	$ 1,429	2,720	$ 1,666
Plan A
Restructuring Cost and Reserve [Line Items]
Employee severance and related costs		1,018	0	1,180
Stock-based compensation		411		486
Total restructuring charges	0	$ 1,429	0	$ 1,666
Plan B
Restructuring Cost and Reserve [Line Items]
Employee severance and related costs	198		1,383
Stock-based compensation	100		665
Other costs	26		672
Total restructuring charges	$ 324		$ 2,720

- Definition

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Fair Value Measurements

6 Months Ended

Sep. 30, 2026

Fair Value Disclosures [Abstract]

Fair Value Measurements

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.

The carrying amounts of our cash, accounts receivable, accounts payable, and accrued liabilities approximate their fair values due to the short-term maturity of these instruments.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table summarizes the composition of our financial assets measured at fair value as of September 30, 2026 and March 31, 2026:


September 30, 2026	Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	523,648	$	—	$	—	$	523,648

March 31, 2026	Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	540,146	$	—	$	—	$	540,146

Assets and Liabilities Not Carried at Fair Value

Fair Value of the Convertible Senior Notes

The 0% convertible senior notes due 2030 (the "Notes") are carried at amortized cost. As of September 30, 2026, the estimated fair value of the Notes was $842,841. The fair value was determined based on the quoted mid-market trading price per $1,000 of face value of the Notes as of the last trading day of the period. The Company considers the fair value of the Notes to be a Level 2 measurement because the valuation is based on observable market data, including broker quoted prices; however, the Notes are not actively traded. Refer to Note 12 of the Notes to Consolidated Financial Statements for further details.

Private Equity Fund Investments

We held equity interests in private equity funds of $10,204 as of September 30, 2026, which are accounted for under the net asset value ("NAV") practical expedient as permitted under Accounting Standards Codification ("ASC") 820, Fair Value Measurement. Investments measured using the NAV practical expedient are not classified within the fair value hierarchy. 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 had total unfunded commitments in private equity funds of $475 as of September 30, 2026.

Strategic Investments

As of September 30, 2026, we held an equity interest in a private company with a carrying value of $13,347, consisting of multiple classes of shares subject to different accounting treatment. Of the total investment, a carrying value of $11,126 is accounted for under the measurement alternative in accordance with ASC 321, Investments—Equity Securities, and is carried at cost, less impairment, if any, adjusted for observable price changes in orderly transactions for identical or similar investments of the same issuer. There were no observable price changes during the three and six months ended September 30, 2026.

The remainder of the investment, with a carrying value of $2,221, is accounted for under the equity method in accordance with ASC 323 Investments—Equity Method and Joint Ventures. The carrying amount is adjusted each reporting period to reflect our proportionate share of the investee's earnings or losses, distributions received, and any impairment losses. Our share of the investee's earnings or losses is recorded through the Consolidated Statements of Operations as non-operating income or expense.

We evaluate strategic investments for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If an impairment is identified and the decline in value is determined to be other than temporary, an impairment loss is recognized in earnings. No impairments have been identified during the periods presented.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Restructuring

6 Months Ended

Sep. 30, 2026

Restructuring and Related Activities [Abstract]

Restructuring

We initiated a restructuring plan in the first quarter of fiscal 2026 ("Plan A") which was completed in the fourth quarter of fiscal 2026. It was intended to optimize our Business Technology organization. The objective of this plan was to realign the workforce, invest in emerging capabilities, modernize the technology landscape, and streamline operations to operate with greater agility and customer focus. There were no charges incurred for the three and six months ended September 30, 2026 related to Plan A. For the three and six months ended September 30, 2025, restructuring charges related to this plan were composed of the following:


	Three Months Ended September 30, 2025		Six Months Ended September 30, 2025
Employee severance and related costs	$	1,018	$	1,180
Stock-based compensation	411		486
Total restructuring charges	$	1,429	$	1,666

We initiated a restructuring plan in the third quarter of fiscal 2026 ("Plan B") intended to optimize our cost structure, improve organizational agility, and better align resources with strategic priorities. These restructuring activities encompass workforce reductions, office lease closures, and exit of operations in certain jurisdictions. The majority of these costs have been incurred and the remaining activities are anticipated to be completed in fiscal 2027. For the three and six months ended September 30, 2026, restructuring charges related to Plan B were composed of the following:


	Three Months Ended September 30, 2026		Six Months Ended September 30, 2026
Employee severance and related costs	$	198	$	1,383
Stock-based compensation	100		665
Other costs	26		672
Total restructuring charges	$	324	$	2,720

Restructuring Accrual

The accrual activity related to our restructuring plans for the six months ended September 30, 2026 was as follows:


	Plan A		Plan B		Total
Balance as of March 31, 2026	$	33	$	4,667	$	4,700
Employee severance and related costs	—		1,383		1,383
Payments	(33)		(5,289)		(5,322)
Balance as of September 30, 2026	$	—	$	761	$	761

Summary of Significant Accounting Policies - Concentration of Credit Risk (Details) - Customer Concentration Risk	3 Months Ended		6 Months Ended		12 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025	Mar. 31, 2026
Partner A \| Revenue
Concentration Risk [Line Items]
Concentration risk percentage	30.00%	31.00%	31.00%	32.00%
Partner A \| Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage			19.00%		29.00%
Partner B \| Revenue
Concentration Risk [Line Items]
Concentration risk percentage	12.00%	12.00%	12.00%	12.00%
Partner B \| Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage			12.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

- Definition

For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.

+ References + Details

Capitalization	6 Months Ended
Capitalization	Sep. 30, 2026
Equity [Abstract]
Capitalization	Capitalization On April 15, 2026, our board of directors (the "Board") approved recommitting our existing share repurchase program, making $250,000 available for future repurchases. The share repurchase program has no expiration date. For the three and six months ended September 30, 2026, we repurchased $109,160 and $119,291 of our common stock, respectively. We repurchased 808 shares for the three months ended September 30, 2026 and 906 shares during the six months ended September 30, 2026. As of September 30, 2026, $130,709 remained available under the share repurchase program.

- Definition

The entire disclosure for equity.

+ References

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+ Details

Restructuring - Schedule of Activity in Restructuring Accrual (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Restructuring Reserve [Roll Forward]
Beginning balance			$ 4,700
Employee severance and related costs			1,383
Payments			(5,322)
Ending balance	$ 761		761
Plan A
Restructuring Reserve [Roll Forward]
Beginning balance			33
Employee severance and related costs		$ 1,018	0	$ 1,180
Payments			(33)
Ending balance	0		0
Plan B
Restructuring Reserve [Roll Forward]
Beginning balance			4,667
Employee severance and related costs	198		1,383
Payments			(5,289)
Ending balance	$ 761		$ 761

Capitalization (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended	6 Months Ended
	Sep. 30, 2026	Sep. 30, 2026	Apr. 15, 2026
Equity [Abstract]
Share repurchase program, amount approved			$ 250,000
Common stock repurchased	$ 109,160	$ 119,291
Common stock repurchased (in shares)	808	906
Remaining amount available under the share repurchase program	$ 130,709	$ 130,709

- Definition

Number of shares that have been repurchased and retired during the period.

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+ Details

Summary of Significant Accounting Policies (Policies)

6 Months Ended

Sep. 30, 2026

Accounting Policies [Abstract]

Basis of Presentation

The consolidated financial statements of Commvault as of September 30, 2026 and for the three and six months ended September 30, 2026 and 2025 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 the information and footnotes required by U.S. generally accepted accounting principles ("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 the fiscal year ended March 31, 2026. The results reported in these consolidated 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 consolidated financial statements and related disclosures in conformity with 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 consolidated 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, goodwill, and purchased intangible assets. Actual results could differ from those estimates.

Reclassification of Prior Year Balances

Certain prior year amounts have been reclassified for consistency with the current year presentation. Beginning in fiscal 2027, Customer support revenue has been further disaggregated between support associated with term-based software license arrangements ("Term-based support") and support associated with perpetual software license arrangements ("Perpetual support"). In addition, Term-based support revenue is now presented within Subscription revenue, together with Term-based license and SaaS revenues. These reclassifications have no impact on the amount of total revenues, net income, or the underlying revenue recognition for these arrangements.

In addition, amortization of debt issuance costs, which was previously included within depreciation and amortization on the Consolidated Statements of Cash Flows, is now presented separately, and the noncash change in fair value of equity securities, which was previously presented separately, is now included within other as an adjustment to reconcile net income to net cash provided by operating activities. These reclassifications have no impact on the amount of cash flows from operating activities.

Recently Adopted and Recently Issued Accounting Standards

There were no recently adopted accounting standards that had a material effect on our consolidated financial statements and accompanying disclosures. The table below outlines recently issued accounting standards not yet adopted that could have an impact on the consolidated financial statements upon adoption.


Standard	Description	Effective Date	Effect on the Consolidated Financial Statements (or Other Significant Matters)
Accounting Standards Update No. 2024-03 (Subtopic 220-40): Disaggregation of Income Statement Expenses	In November 2024, the Financial Accounting Standards Board issued a new standard to improve income statement expense disclosures. The standard requires greater disaggregated information on certain expense captions, as well as disclosures about selling expenses.	This standard will be effective for us for our annual period beginning April 1, 2027 and interim periods beginning April 1, 2028, with early adoption permitted.	We are currently evaluating the impact of this standard on our consolidated financial statements and disclosures.

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.

We rely significantly on our value-added resellers, systems integrators, and corporate resellers, which we collectively refer to as resellers, for the marketing and distribution of our products and services. Further, we have non-exclusive distribution agreements with certain partners who enable a more efficient and effective distribution channel for our solutions by managing our resellers and leveraging their own industry experience.

Revenue

We generate revenues through subscription arrangements, which include term-based software licenses, term-based support, and SaaS, as well as perpetual software licenses, perpetual support, and other services.

Term-based License

Term-based license includes revenue from the license portion of time-based subscription arrangements which are deployed on-premise. The revenue from these licenses is typically recognized when the software is delivered or made available for download.

Term-based Support

Term-based support includes revenues associated with support contracts tied to our term-based software products. Term-based support includes software updates on a when-and-if-available basis, telephone support, integrated web-based support, and other premium support offerings, including enterprise support. We sell our term-based support contracts as a percentage of net software purchases. Term-based support revenue is recognized ratably over the contract term, which is typically one to three years.

Software-as-a-service ("SaaS")

SaaS includes revenue from time-based subscription arrangements which are delivered through hosted cloud solutions. SaaS revenue is recognized ratably over the contract term, typically one to three years, beginning on the date that the service is made available to the customer. Revenue from usage- or consumption-based arrangements is generally recognized as the services are consumed.

Perpetual License

Perpetual license includes revenue from the sale of perpetual software licenses. Perpetual software license revenue is typically recognized when the software is delivered or made available for download.

Perpetual Support

Perpetual support includes revenues associated with support contracts tied to our perpetual software products. Perpetual support includes software updates on a when-and-if-available basis, telephone support, and integrated web-based support. We sell our perpetual support contracts as a percentage of net software purchases. Perpetual support revenue is recognized ratably over the contract term, which is typically one year.

Other Services

Other services consist primarily of revenue related to professional service offerings, including consultation, assessment and design, installation services, and customer education. Revenues related to other services can vary period over period based on the timing services are delivered and are typically recognized as the services are performed.

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

We also offer software that integrates with appliances and addresses 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. These appliances are almost exclusively sold through 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 revenues and costs associated with hardware are usually not included in our consolidated financial statements.

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
Subscription
Term-based software licenses	Upon delivery 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
Term-based support	Ratably over the course of the support contract (over time)	At the beginning of the contract period	Observable in renewal transactions
Software-as-a-service (SaaS)	Ratably over the course of the contract (over time) or as services are consumed for consumption-based arrangements	Annually or at the beginning of the contract period	Observable in transactions without multiple performance obligations
Perpetual License
Perpetual software licenses	Upon delivery or made available for download (point in time)	Within 90 days of shipment	Residual approach
Perpetual Support
Perpetual support	Ratably over the course of the support contract (over time)	At the beginning of the contract period	Observable in renewal transactions
Other Services
Other professional services	As work is performed (over time)	Within 90 days of services being performed	Observable in transactions without multiple performance obligations

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

In some arrangements we allow customers to pay for term-based licenses over the term of the software license. When a term-based license arrangement contains payment terms that extend beyond one year, a significant financing component may exist. The significant financing component is calculated as the difference between the stated value and present value of the license and is recognized as interest income over the extended payment period. The total license fee net of the significant financing component is recognized as revenue at the point in time when the software is transferred to the customer. Interest income from significant financing components was not material for the three and six months ended September 30, 2026 and 2025.

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 on the Consolidated Balance Sheets.

Fair Value Measurements

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.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

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Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.

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Cover - shares	6 Months Ended
Cover - shares	Sep. 30, 2026	Oct. 26, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2026
Document Transition Report	false
Entity File Number	001-33026
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 per share
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		40,912,591
Central Index Key	0001169561
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2027
Document Fiscal Period Focus	Q2
Amendment Flag	false

Segment Information - Additional Information (Details)	6 Months Ended
Segment Information - Additional Information (Details)	Sep. 30, 2026 segment
Segment Reporting [Abstract]
Number of reportable segments	1

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2026	Mar. 31, 2026
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)	40,892,000	41,255,000
Common stock, shares outstanding (in shares)	40,892,000	41,255,000

- Definition

Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.

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- Definition

The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.

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- Definition

Number of shares issued for nonredeemable preferred shares and preferred shares redeemable solely at option of issuer. Includes, but is not limited to, preferred shares issued, repurchased, and held as treasury shares. Excludes preferred shares classified as debt.

+ References + Details

- Definition

Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.

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Net Income per Common Share

6 Months Ended

Sep. 30, 2026

Earnings Per Share [Abstract]

Net Income per Common Share

Basic net income per common share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per share is computed using the weighted average number of common shares outstanding 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 ("RSUs"), performance stock units ("PSUs"), common shares to be purchased under the Employee Stock Purchase Plan ("ESPP"), and, if dilutive, the conversion spread on the Notes. The dilutive effect of RSUs, PSUs, and ESPP purchases is reflected in diluted earnings per share by application of the treasury stock method. The dilutive effect of the Notes is calculated using the if-converted method. See Note 12 of the Notes to Consolidated Financial Statements for further details of the Notes.

The following table sets forth the reconciliation of basic and diluted net income per common share:


	Three Months Ended September 30,				Six Months Ended September 30,
	2026		2025		2026		2025
Net income	$	29,111	$	14,730	$	50,250	$	38,226
Basic net income per common share:
Basic weighted average shares outstanding	41,261		44,406		41,303		44,366
Basic net income per common share	$	0.71	$	0.33	$	1.22	$	0.86
Diluted net income per common share:
Basic weighted average shares outstanding	41,261		44,406		41,303		44,366
Dilutive effect of potential common shares	960		789		754		898
Diluted weighted average shares outstanding	42,221		45,195		42,057		45,264
Diluted net income per common share	$	0.69	$	0.33	$	1.19	$	0.84

Diluted weighted average shares outstanding excludes RSUs, PSUs, and common shares to be purchased under the ESPP totaling 288 and 71 for the three months ended September 30, 2026 and 2025, respectively, and 311 and 64 for the six months ended September 30, 2026 and 2025, respectively, because the effect of including them would have been anti-dilutive. In addition, the Notes were excluded from diluted net income per share as their inclusion would have been anti-dilutive.

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Statement of Comprehensive Income [Abstract]
Net income	$ 29,111	$ 14,730	$ 50,250	$ 38,226
Other comprehensive income (loss):
Foreign currency translation adjustment, net of tax	(1,003)	(468)	(2,747)	518
Comprehensive income	$ 28,108	$ 14,262	$ 47,503	$ 38,744

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

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- 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

Segment Information

6 Months Ended

Sep. 30, 2026

Segment Reporting [Abstract]

Segment Information

We operate as a single reportable segment as we report financial information, including net income determined in accordance with GAAP, among other measures, on a consolidated basis to our Chief Executive Officer, who serves as the Chief Operating Decision Maker ("CODM"). The CODM uses consolidated net income to make operating decisions, allocate resources, and evaluate financial performance, primarily by monitoring actual results compared to forecasted results, as well as by reviewing year-over-year results and trending historical performance. The CODM also uses net income in competitive analysis by benchmarking to the Company’s competitors. The competitive analysis along with the monitoring of actual versus forecasted results are used in assessing the performance of the segment.

The CODM reviews significant segment expenses for our single reportable segment. Significant segment expenses include cost of revenues, sales and marketing expenses, research and development expenses, general and administrative expenses, depreciation and amortization, restructuring, and other operating expenses, all of which are presented in our Consolidated Statements of Operations. Other segment items include interest income, interest expense, other income, net, and income tax expense, which are also presented in our Consolidated Statements of Operations.

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 by geographic area:


	Three Months Ended September 30,				Six Months Ended September 30,
	2026		2025		2026		2025
United States	$	176,453	$	150,608	$	347,725	$	307,507
Other	135,936		125,580		278,795		250,659
Total revenues	$	312,389	$	276,188	$	626,520	$	558,166

No individual country other than the United States accounted for 10% or more of revenues for the three and six months ended September 30, 2026 and 2025. Revenue included in the "Other" caption above primarily relates to our operations in Europe, Australia, Canada, and Asia.

- Definition

The entire disclosure for segment reporting.

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+ Details

Revenue

6 Months Ended

Sep. 30, 2026

Revenue from Contract with Customer [Abstract]

Revenue

Term-based License

Term-based Support

Software-as-a-service ("SaaS")

Perpetual License

Perpetual Support

Other Services

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
Subscription
Term-based software licenses	Upon delivery 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
Term-based support	Ratably over the course of the support contract (over time)	At the beginning of the contract period	Observable in renewal transactions
Software-as-a-service (SaaS)	Ratably over the course of the contract (over time) or as services are consumed for consumption-based arrangements	Annually or at the beginning of the contract period	Observable in transactions without multiple performance obligations
Perpetual License
Perpetual software licenses	Upon delivery or made available for download (point in time)	Within 90 days of shipment	Residual approach
Perpetual Support
Perpetual support	Ratably over the course of the support contract (over time)	At the beginning of the contract period	Observable in renewal transactions
Other Services
Other professional services	As work is performed (over time)	Within 90 days of services being performed	Observable in transactions without multiple performance obligations

Judgments Related to Revenue Recognition

Most of our contracts with customers contain multiple performance obligations. For these contracts, we evaluate and account for individual performance obligations separately if they are determined to be distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. Standalone selling prices of software licenses (both term-based and perpetual) are typically estimated using the residual approach. Standalone selling prices for SaaS, customer support contracts (both term-based and perpetual), and other services are typically estimated based on observable transactions when these services are sold on a standalone basis. We recognize revenue net of sales tax.

Disaggregation of Revenues

We disaggregate revenues from contracts with customers by geographical region. Our Americas region includes the United States, Canada, and Latin America. Our International region primarily includes Europe, the Middle East, Africa, Australia, India, and Southeast Asia.


	Three Months Ended September 30,				Six Months Ended September 30,
	2026		2025		2026		2025
Americas	$	194,103	$	168,125	$	380,882	$	339,053
International	118,286		108,063		245,638		219,113
Total revenues	$	312,389	$	276,188	$	626,520	$	558,166

Remaining Performance Obligations

Remaining performance obligations represent expected future revenue from existing contracts where performance obligations are unsatisfied or partially unsatisfied at the end of the reporting period. Remaining performance obligations include unfulfilled contracts at the end of a given period and can include subscription arrangements (term-based licenses, term-based support, and SaaS), perpetual support, and other services. As of September 30, 2026, our remaining performance obligations (inclusive of deferred revenue) were $1,074,729, of which approximately 58% is expected to be recognized as revenue over the next twelve months and the remainder recognized thereafter.

Remaining performance obligations, excluding deferred revenue, related to subscription arrangements and other services were $278,069 and $31,262, respectively. Remaining performance obligations related to perpetual support were not material. Of these balances, we expect approximately 43% of subscription arrangements and 100% of other services to be recognized as revenue over the next twelve months and the remainder recognized thereafter. We expect approximately 13% of subscription arrangements remaining performance obligations to be recognized as revenue in the third quarter of fiscal 2027. These balances represent transactions consisting primarily of early renewals, unbilled and undelivered support and other services, and orders received prior to the last day of the quarter that were not delivered or provisioned to customers.

Remaining performance obligations will fluctuate period to period. We do not believe the amount of remaining performance obligations is indicative of future sales or revenue or that the mix at the end of any given period correlates with actual sales performance.

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 SaaS, customer support, and other services.


	Accounts Receivable		Unbilled Receivable (Current)		Unbilled Receivable (Long-Term)		Deferred Revenue (Current)		Deferred Revenue (Long-Term)
Opening balance as of March 31, 2026	$	283,454	$	47,029	$	44,809	$	484,973	$	293,725
Increase/(decrease)	(65,441)		15,533		22,594		(12,227)		(2,611)
Ending balance as of September 30, 2026	$	218,013	$	62,562	$	67,403	$	472,746	$	291,114

The changes in accounts receivable and unbilled receivables are primarily driven by the timing of our billings and cash collections, as well as a higher volume of term-based license arrangements with payments due over the license term. The decrease in deferred revenue is primarily the result of decreases in perpetual support renewal and other services contracts.

The amount of revenue recognized in the period that was included in the opening deferred revenue balance was $145,326 and $315,486 for the three and six months ended September 30, 2026, respectively. The majority of this revenue consists of SaaS and customer support. The amount of revenue recognized from performance obligations satisfied in prior periods was not significant.

- 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.

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-URI https://asc.fasb.org/606/tableOfContent

+ Details

Stock Plans - Schedule of RSU And PSU Activity (Details) - RSUs and PSUs - $ / shares shares in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Number of Shares
Outstanding. beginning balance (in shares)			1,742
Granted (in shares)			791
Vested (in shares)			(455)
Forfeited (in shares)			(84)
Outstanding. ending balance (in shares)	1,994		1,994
Weighted- Average Grant Date Fair Value
Outstanding. beginning balance (in dollars per share)			$ 133.22
Granted (in dollars per share)	$ 147.82	$ 181.16	122.01	$ 184.61
Vested (in dollars per share)			126.97
Forfeited (in dollars per share)			174.25
Outstanding. ending balance (in dollars per share)	$ 128.40		$ 128.40

Revenue - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Disaggregation of Revenue [Line Items]
Total revenues	$ 312,389	$ 276,188	$ 626,520	$ 558,166
Americas
Disaggregation of Revenue [Line Items]
Total revenues	194,103	168,125	380,882	339,053
International
Disaggregation of Revenue [Line Items]
Total revenues	$ 118,286	$ 108,063	$ 245,638	$ 219,113

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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- 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

+ Details

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Sep. 30, 2026

Accounting Policies [Abstract]

Schedule of Accounting Standards

The table below outlines recently issued accounting standards not yet adopted that could have an impact on the consolidated financial statements upon adoption.


Standard	Description	Effective Date	Effect on the Consolidated Financial Statements (or Other Significant Matters)
Accounting Standards Update No. 2024-03 (Subtopic 220-40): Disaggregation of Income Statement Expenses	In November 2024, the Financial Accounting Standards Board issued a new standard to improve income statement expense disclosures. The standard requires greater disaggregated information on certain expense captions, as well as disclosures about selling expenses.	This standard will be effective for us for our annual period beginning April 1, 2027 and interim periods beginning April 1, 2028, with early adoption permitted.	We are currently evaluating the impact of this standard on our consolidated financial statements and disclosures.

- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References + Details

Debt - Schedule of Amortization of Debt Issuance Costs and Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Line of Credit Facility [Line Items]
Amortization of debt issuance costs			$ 2,330	$ 494
Revolving credit facility \| Senior Secured Revolving Credit Facility
Line of Credit Facility [Line Items]
Amortization of debt issuance costs	$ 103	$ 102	204	187
Interest expense	269	192	534	360
Total charges	$ 372	$ 294	$ 738	$ 547

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Summary of Significant Accounting Policies

6 Months Ended

Sep. 30, 2026

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

There have been no changes to our significant accounting policies described in our Annual Report on Form 10-K for the fiscal year ended March 31, 2026 that have had a material effect on our consolidated financial statements.

Recently Adopted and Recently Issued Accounting Standards


Standard	Description	Effective Date	Effect on the Consolidated Financial Statements (or Other Significant Matters)
Accounting Standards Update No. 2024-03 (Subtopic 220-40): Disaggregation of Income Statement Expenses	In November 2024, the Financial Accounting Standards Board issued a new standard to improve income statement expense disclosures. The standard requires greater disaggregated information on certain expense captions, as well as disclosures about selling expenses.	This standard will be effective for us for our annual period beginning April 1, 2027 and interim periods beginning April 1, 2028, with early adoption permitted.	We are currently evaluating the impact of this standard on our consolidated financial statements and disclosures.

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.

Partner A accounted for approximately 30% and 31% of our total revenues for the three months ended September 30, 2026 and 2025, respectively, and 31% and 32% of our total revenues for the six months ended September 30, 2026 and 2025, respectively. In addition, Partner A represented approximately 19% and 29% of our total accounts receivable as of September 30, 2026 and March 31, 2026, respectively.

Partner B accounted for approximately 12% of our total revenues for both the three and six months ended September 30, 2026 and 2025. In addition, Partner B represented approximately 12% of our total accounts receivable as of September 30, 2026. Total accounts receivable as of March 31, 2026 for Partner B were less than 10%.

Income Taxes	6 Months Ended
Income Taxes	Sep. 30, 2026
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective tax rate ("ETR") was 24.9% and 2.5% for the three months ended September 30, 2026 and 2025, respectively, and 29.2% and 8.9% for the six months ended September 30, 2026 and 2025, respectively. The increase in ETR as of September 30, 2026 compared to the prior year was primarily due to changes in the mix of our earnings and tax expenses between the U.S. and foreign countries, as well as changes in the tax impact of stock-based compensation.

- Definition

The entire disclosure for income tax.

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+ Details

Restructuring (Tables)

6 Months Ended

Sep. 30, 2026

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Charges

For the three and six months ended September 30, 2025, restructuring charges related to this plan were composed of the following:


	Three Months Ended September 30, 2025		Six Months Ended September 30, 2025
Employee severance and related costs	$	1,018	$	1,180
Stock-based compensation	411		486
Total restructuring charges	$	1,429	$	1,666

For the three and six months ended September 30, 2026, restructuring charges related to Plan B were composed of the following:


	Three Months Ended September 30, 2026		Six Months Ended September 30, 2026
Employee severance and related costs	$	198	$	1,383
Stock-based compensation	100		665
Other costs	26		672
Total restructuring charges	$	324	$	2,720

Schedule of Activity in Restructuring Accrual

The accrual activity related to our restructuring plans for the six months ended September 30, 2026 was as follows:


	Plan A		Plan B		Total
Balance as of March 31, 2026	$	33	$	4,667	$	4,700
Employee severance and related costs	—		1,383		1,383
Payments	(33)		(5,289)		(5,322)
Balance as of September 30, 2026	$	—	$	761	$	761

Segment Information - Schedule of Revenue by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]
Total revenues	$ 312,389	$ 276,188	$ 626,520	$ 558,166
United States
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]
Total revenues	176,453	150,608	347,725	307,507
Other
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]
Total revenues	$ 135,936	$ 125,580	$ 278,795	$ 250,659

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

+ Details

Debt

6 Months Ended

Sep. 30, 2026

Debt Disclosure [Abstract]

Debt

Convertible Senior Notes

On September 5, 2025, we issued $900,000 aggregate principal amount of the Notes, including the exercise in full by the initial purchasers of the Notes of their option to purchase an additional $115,000 aggregate principal amount of the Notes. The Notes were issued pursuant to an Indenture, dated September 5, 2025 (the "Indenture"), between Commvault and U.S. Bank Trust Company, National Association, as trustee. The Notes are senior, unsecured obligations and do not bear regular interest; however, special interest and additional interest, if any, may accrue on the Notes at a combined rate per annum not exceeding 0.50% upon the occurrence of certain events as described in the Indenture. The Notes mature on September 15, 2030, unless earlier converted, redeemed, or repurchased. The total net proceeds from the offering, after deducting debt issuance costs, were $878,447.

Noteholders will have the right to convert their Notes before March 15, 2030 only under the following circumstances: (1) during any fiscal quarter (and only during such fiscal quarter) commencing after the fiscal quarter ending on December 31, 2025, if the Last Reported Sale Price (as defined in the Indenture) per share of our common stock exceeds 130% of the conversion price (as described below) for each of at least 20 Trading Days (as defined in the Indenture) (whether or not consecutive) during a period of 30 consecutive Trading Days ending on, and including, the last Trading Day of the immediately preceding fiscal quarter; (2) during the five consecutive business days immediately after any ten consecutive Trading Day period (the "Measurement Period") in which the Trading Price (as defined in the Indenture) per $1,000 principal amount of Notes for each Trading Day of the Measurement Period was less than 98% of the product of the Last Reported Sale Price per share of the common stock on such Trading Day and the conversion rate (as described below) on each Trading Day; (3) upon the occurrence of specified corporate events or distributions on the common stock as set forth in the Indenture; or (4) if the Company calls such Notes for redemption.

On or after March 15, 2030, until the close of business on the second Scheduled Trading Day (as defined in the Indenture) immediately before the maturity date, the Notes will be convertible at the option of the noteholders at any time, in multiples of $1,000 principal amount. The conversion rate for the Notes will initially be 4.2215 shares of common stock per $1,000 principal amount of Notes, which is equivalent to an initial conversion price of approximately $236.88 per share of common stock. The conversion rate is subject to adjustment upon certain events. Upon conversion, consideration due will consist of cash, up to the principal amount of the Notes to be converted, and, for any conversion value in excess of principal, cash or shares of our common stock, at our election.

We may not redeem the Notes at our option at any time before September 22, 2028. We will have the option to redeem the Notes, in whole or in part, on or after September 22, 2028 and before the 41st Scheduled Trading Day immediately before the maturity date, at a cash redemption price equal to the principal amount of the Notes to be redeemed, plus accrued and unpaid special interest and additional interest, if any, to, but excluding, the redemption date, but only if (i) the Notes are Freely Tradable (as defined in the Indenture); and (ii) the Last Reported Sale Price per share of our common stock exceeds 130% of the conversion price on (1) each of at least 20 Trading Days, whether or not consecutive, during the 30 consecutive Trading Days ending on, and including, the Trading Day immediately before the date we send the related redemption notice; and (2) the Trading Day immediately before the date we send such notice. In addition, calling any Note for redemption will constitute a Make-Whole Fundamental Change (as defined in the Indenture) with respect to that Note, in which case the conversion rate applicable to the conversion of that Note will be increased in certain circumstances if it is converted after it is called for redemption. Pursuant to the partial redemption limitation, we may not elect to redeem less than all of the outstanding Notes unless at least $100,000 aggregate principal amount of Notes are outstanding and not subject to redemption as of the time we send the related redemption notice.

The net carrying amount of the Notes was as follows:


	September 30, 2026
Principal amount	$	900,000
Unamortized debt issuance costs	(17,011)
Net carrying amount	$	882,989

Amortization of debt issuance costs incurred related to the Notes for the three and six months ended September 30, 2026 was $1,063 and $2,126, respectively. Amortization of debt issuance costs incurred related to the Notes for the three and six months ended September 30, 2025 was $306. The debt issuance costs are being amortized into interest expense on the Consolidated Statements of Operations over the term of the Notes at an effective interest rate of 0.48%.

Capped Calls

In connection with the pricing of the Notes and the exercise in full by the initial purchasers of their option to purchase additional Notes, we entered into capped call transactions (the "Capped Calls") with certain affiliates of certain initial purchasers of the Notes and other financial institutions.

The Capped Calls each have an initial strike price of $236.88 per share, subject to certain adjustments, which corresponds to the initial conversion price of the Notes. The Capped Calls have an initial cap price of $357.56 per share, subject to certain adjustments. The Capped Calls are generally expected to reduce potential dilution to our common stock upon any conversion of the Notes and/or offset any cash payments we are required to make in excess of the principal amount of the converted Notes, as the case may be, with such reduction and/or offset subject to a cap.

For accounting purposes, the Capped Calls are treated as separate transactions from, and not part of, the terms of the Notes. As these transactions meet certain accounting criteria, the Capped Calls are recorded in stockholders' equity and are not accounted for as derivatives. The Capped Calls will not be remeasured as long as they continue to meet the conditions for equity classification.

Revolving Credit Facility

We maintain a $300,000 senior secured revolving credit facility that expires in April 2030 (the "Credit Facility") with JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto. The Credit Facility is available for share repurchases, general corporate purposes, and letters of credit. The Credit Facility contains financial maintenance covenants, including a leverage ratio and interest coverage ratio. The Credit Facility also contains certain customary events of default which would permit the lenders to, among other things, declare all loans then outstanding to be immediately due and payable if such default is not cured within applicable grace periods. The Credit Facility also limits our ability to incur certain additional indebtedness, create or permit liens on assets, make acquisitions or investments, make loans or advances, sell or transfer assets, pay dividends or distributions, and engage in certain transactions with affiliates. Outstanding borrowings under the Credit Facility accrue interest at a per annum rate determined by the Company’s election of either the Secured Overnight Financing Rate plus a margin ranging from 1.50% to 2.00%, or a base rate, which is generally the greater of a prime rate plus a margin ranging from 0.50% to 1.00%. The applicable margin in each case is contingent upon the Company’s leverage ratio. Additionally, the unused balance on the Credit Facility is subject to an unused commitment fee ranging from 0.25% to 0.35% per annum based on the Company's leverage ratio. As of September 30, 2026, 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 associated with the Credit Facility, which are classified as other assets, and will amortize the costs into interest expense over the term of the Credit Facility. Unamortized amounts as of September 30, 2026 were $1,448. The amortization of debt issuance costs and interest expense related to the Credit Facility incurred for the three and six months ended September 30, 2026 and 2025 was as follows:


	Three Months Ended September 30,				Six Months Ended September 30,
	2026		2025		2026		2025
Amortization of debt issuance costs	$	103	$	102	$	204	$	187
Interest expense	269		192		534		360
Total charges	$	372	$	294	$	738	$	547

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22)(a)(1))
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-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(19))
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-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480657/210-10-S50-9

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
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-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 6
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-Publisher FASB
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-Topic 405
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-Name Accounting Standards Codification
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-Topic 405
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
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-Paragraph 1
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
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Reference 24: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Section 50
-Paragraph 1I
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Stock Plans - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 35,780	$ 32,224	$ 71,070	$ 62,404
Income Statement Location [Axis]: us-gaap:CostOfGoodsAndServicesSold
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	1,435	1,323	2,838	2,572
Income Statement Location [Axis]: us-gaap:GeneralAndAdministrativeExpense
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	11,569	9,981	22,439	19,181
Income Statement Location [Axis]: us-gaap:ResearchAndDevelopmentExpense
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	8,034	7,752	16,318	14,822
Income Statement Location [Axis]: us-gaap:RestructuringCharges
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	100	411	665	486
Income Statement Location [Axis]: us-gaap:SellingAndMarketingExpense
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 14,642	$ 12,757	$ 28,810	$ 25,343

Commitments and Contingencies (Details) $ in Thousands	3 Months Ended
Commitments and Contingencies (Details) $ in Thousands	Jun. 30, 2026 USD ($)
Strategic Pricing and Packaging Initiative, Performance-Based
Loss Contingencies [Line Items]
Loss contingency expense	$ 6,500

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-4

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482645/405-30-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 5.W.Q2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479583/944-40-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 275
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-9

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 720
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483359/720-20-50-1

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 27
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482395/460-10-55-27

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-9

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-4

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-1

+ Details

Basis of Presentation	6 Months Ended
Basis of Presentation	Sep. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Commvault Systems, Inc. and its subsidiaries ("Commvault," "we," "us," "our," or the "Company") is a provider of cyber resiliency solutions designed to help the enterprise protect, secure, and recover their data, applications, and identity systems in a world of increasing cyber threats and attacks. Commvault’s offerings provide cyber resilience, including data protection, cyber recovery, data security, and governance, aiming to enable customers' continuous business. Our offerings are delivered through self-managed software, software-as-a-service ("SaaS"), integrated appliances, or managed by partners. Customers use our Commvault Cloud platform to help protect themselves from threats like ransomware and recover their data efficiently. The consolidated financial statements of Commvault as of September 30, 2026 and for the three and six months ended September 30, 2026 and 2025 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 the information and footnotes required by U.S. generally accepted accounting principles ("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 the fiscal year ended March 31, 2026. The results reported in these consolidated financial statements should not necessarily be taken as indicative of results that may be expected for the entire fiscal year. The preparation of consolidated financial statements and related disclosures in conformity with 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 consolidated 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, goodwill, and purchased intangible assets. Actual results could differ from those estimates. Reclassification of Prior Year Balances Certain prior year amounts have been reclassified for consistency with the current year presentation. Beginning in fiscal 2027, Customer support revenue has been further disaggregated between support associated with term-based software license arrangements ("Term-based support") and support associated with perpetual software license arrangements ("Perpetual support"). In addition, Term-based support revenue is now presented within Subscription revenue, together with Term-based license and SaaS revenues. These reclassifications have no impact on the amount of total revenues, net income, or the underlying revenue recognition for these arrangements. In addition, amortization of debt issuance costs, which was previously included within depreciation and amortization on the Consolidated Statements of Cash Flows, is now presented separately, and the noncash change in fair value of equity securities, which was previously presented separately, is now included within other as an adjustment to reconcile net income to net cash provided by operating activities. These reclassifications have no impact on the amount of cash flows from operating activities.

Debt - Additional Information (Details)		3 Months Ended		6 Months Ended
Debt - Additional Information (Details)	Sep. 05, 2025 USD ($) day $ / shares	Sep. 30, 2026 USD ($)	Sep. 30, 2025 USD ($)	Sep. 30, 2026 USD ($)	Sep. 30, 2025 USD ($)
Line of Credit Facility [Line Items]
Threshold says prior to the maturity date for redemption \| day	41
Amortization of debt issuance costs				$ 2,330,000	$ 494,000
Call Option
Line of Credit Facility [Line Items]
Strike price (in dollars per share) \| $ / shares	$ 236.88
Initial cap price (in dollars per share) \| $ / shares	$ 357.56
Convertible Senior Notes Due 2030 \| Convertible Debt
Line of Credit Facility [Line Items]
Principal amount issued	$ 900,000,000
Maximum face amount for over-allotment option	$ 115,000,000
Maximum special and additional interest percentage	0.50%
Proceeds from issuance of debt, net of issuance costs	$ 878,447,000
Conversion ratio	0.0042215
Conversion price (in dollars per share) \| $ / shares	$ 236.88
Threshold of convertible notes outstanding for partial redemption	$ 100,000,000
Amortization of debt issuance costs		$ 1,063,000	$ 306,000	$ 2,126,000	306,000
Effective interest rate percentage				0.48%
Unamortized debt issuance costs		17,011,000		$ 17,011,000
Convertible Senior Notes Due 2030 \| Convertible Debt \| Debt Conversion Terms One
Line of Credit Facility [Line Items]
Threshold percentage of stock price trigger	130.00%
Threshold trading days \| day	20
Threshold consecutive trading days \| day	30
Convertible Senior Notes Due 2030 \| Convertible Debt \| Debt Conversion Terms Two
Line of Credit Facility [Line Items]
Threshold percentage of stock price trigger	98.00%
Threshold trading days \| day	5
Threshold consecutive trading days \| day	10
Senior Secured Revolving Credit Facility \| Revolving credit facility
Line of Credit Facility [Line Items]
Amortization of debt issuance costs		103,000	$ 102,000	204,000	$ 187,000
Borrowing capacity		300,000,000		300,000,000
Borrowings under the credit facility		0		0
Unamortized debt issuance costs		$ 1,448,000		$ 1,448,000
Senior Secured Revolving Credit Facility \| Revolving credit facility \| Minimum
Line of Credit Facility [Line Items]
Annual unused commitment fee rate				0.25%
Senior Secured Revolving Credit Facility \| Revolving credit facility \| Minimum \| SOFR
Line of Credit Facility [Line Items]
Basis spread on variable rate				1.50%
Senior Secured Revolving Credit Facility \| Revolving credit facility \| Minimum \| Prime Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate				0.50%
Senior Secured Revolving Credit Facility \| Revolving credit facility \| Maximum
Line of Credit Facility [Line Items]
Annual unused commitment fee rate				0.35%
Senior Secured Revolving Credit Facility \| Revolving credit facility \| Maximum \| SOFR
Line of Credit Facility [Line Items]
Basis spread on variable rate				2.00%
Senior Secured Revolving Credit Facility \| Revolving credit facility \| Maximum \| Prime Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate				1.00%

Net Income per Common Share (Tables)

6 Months Ended

Sep. 30, 2026

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Income per Common Share

The following table sets forth the reconciliation of basic and diluted net income per common share:


	Three Months Ended September 30,				Six Months Ended September 30,
	2026		2025		2026		2025
Net income	$	29,111	$	14,730	$	50,250	$	38,226
Basic net income per common share:
Basic weighted average shares outstanding	41,261		44,406		41,303		44,366
Basic net income per common share	$	0.71	$	0.33	$	1.22	$	0.86
Diluted net income per common share:
Basic weighted average shares outstanding	41,261		44,406		41,303		44,366
Dilutive effect of potential common shares	960		789		754		898
Diluted weighted average shares outstanding	42,221		45,195		42,057		45,264
Diluted net income per common share	$	0.69	$	0.33	$	1.19	$	0.84

Revenue (Tables)

6 Months Ended

Sep. 30, 2026

Revenue from Contract with Customer [Abstract]

Schedule of Performance Obligations

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
Subscription
Term-based software licenses	Upon delivery 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
Term-based support	Ratably over the course of the support contract (over time)	At the beginning of the contract period	Observable in renewal transactions
Software-as-a-service (SaaS)	Ratably over the course of the contract (over time) or as services are consumed for consumption-based arrangements	Annually or at the beginning of the contract period	Observable in transactions without multiple performance obligations
Perpetual License
Perpetual software licenses	Upon delivery or made available for download (point in time)	Within 90 days of shipment	Residual approach
Perpetual Support
Perpetual support	Ratably over the course of the support contract (over time)	At the beginning of the contract period	Observable in renewal transactions
Other Services
Other professional services	As work is performed (over time)	Within 90 days of services being performed	Observable in transactions without multiple performance obligations

Schedule of Disaggregation of Revenue


	Three Months Ended September 30,				Six Months Ended September 30,
	2026		2025		2026		2025
Americas	$	194,103	$	168,125	$	380,882	$	339,053
International	118,286		108,063		245,638		219,113
Total revenues	$	312,389	$	276,188	$	626,520	$	558,166

Schedule of Contract Balances

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, 2026	$	283,454	$	47,029	$	44,809	$	484,973	$	293,725
Increase/(decrease)	(65,441)		15,533		22,594		(12,227)		(2,611)
Ending balance as of September 30, 2026	$	218,013	$	62,562	$	67,403	$	472,746	$	291,114

Stock Plans - Additional Information (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense	$ 193,274		$ 193,274
Weighted average period awards are expected to be recognized			2 years 1 month 20 days
RSUs and PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of shares granted (in dollars per share)	$ 147.82	$ 181.16	$ 122.01	$ 184.61
RSUs \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
PSUs \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards potential to vest, percentage			0.00%
PSUs \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Awards potential to vest, percentage			300.00%
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price as a percentage of fair market value			85.00%
Length of offering period (in months)			6 months
Maximum employee payroll percent deduction of salary	10.00%		10.00%
Maximum amount of stock purchasable by employees within a calendar year			$ 25
Number of shares purchased by employees (in shares)			88	45
Proceeds received for employee purchases			$ 6,585	$ 6,974

Income Taxes (Details)	3 Months Ended		6 Months Ended
Income Taxes (Details)	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Income Tax Disclosure [Abstract]
Effective tax rate	24.90%	2.50%	29.20%	8.90%

Fair Value Measurements - Narrative (Details) $ in Thousands	Sep. 30, 2026 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Interest in private equity fund	$ 10,204
Unfunded commitments	475
Equity interest in private company	13,347
Equity interest in private company accounted for under the measurement alternative	11,126
Equity interest in private company accounted for using the equity method	$ 2,221
Convertible Senior Notes Due 2030 \| Convertible Debt
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Stated interest rate percentage	0.00%
Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value of the Notes	$ 842,841

Debt - Schedule of Carrying Amount of the Notes (Details) - Convertible Senior Notes Due 2030 - Convertible Debt $ in Thousands	Sep. 30, 2026 USD ($)
Debt Instrument [Line Items]
Principal amount	$ 900,000
Unamortized debt issuance costs	(17,011)
Net carrying amount	$ 882,989

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.9-06)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S45
-Paragraph 1
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+ Details

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References

+ Details

Fair Value Measurements (Tables)

6 Months Ended

Sep. 30, 2026

Fair Value Disclosures [Abstract]

Schedule of Financial Assets Measured at Fair value on a Recurring Basis

The following table summarizes the composition of our financial assets measured at fair value as of September 30, 2026 and March 31, 2026:


September 30, 2026	Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	523,648	$	—	$	—	$	523,648

March 31, 2026	Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	540,146	$	—	$	—	$	540,146

Stock Plans

6 Months Ended

Sep. 30, 2026

Share-Based Payment Arrangement [Abstract]

Stock Plans

We maintain the 2016 Omnibus Incentive Plan (the "2016 Plan") and the 2026 Equity Plan (the "2026 Plan"), each of which authorizes the grant of various equity-based and cash-based awards. In August 2026, we adopted the 2026 Plan, which replaced the 2016 Plan. No further awards will be granted under the 2016 Plan, and awards previously granted thereunder will remain outstanding in accordance with their terms. During the periods presented, awards granted under both the 2016 Plan and 2026 Plan consisted of RSUs and PSUs. We also maintain the ESPP, under which eligible employees may purchase shares of our common stock through payroll deductions at a discount to market value, subject to statutory and plan limits.

Restricted Stock Units

RSUs generally vest over service periods of up to three years. The fair value of RSUs is measured based on the market price of our common stock on the date of grant and compensation expense is recognized on a straight-line basis over the requisite service period.

Performance Stock Units

PSUs generally vest over service periods of up to three years and are subject to the achievement of specified performance or market-based conditions. Performance-based PSUs are earned based on the achievement of predetermined performance objectives, while market-based PSUs are earned based on our total shareholder return relative to a designated market index over the performance period. Depending on actual performance, the number of shares ultimately earned may range from 0% to 300% of target for both performance or market-based PSUs.

The fair value of performance-based PSUs is measured based on the market price of our common stock on the date of grant. The fair value of market-based PSUs is measured using a Monte Carlo simulation model, which incorporates assumptions as to the expected life of awards, a risk-free interest rate, stock price volatility, and dividend yield.

Compensation expense for PSUs is recognized using the accelerated method over the requisite service period. For performance-based PSUs, compensation expense reflects management's estimate of the number of awards expected to vest and is adjusted as necessary until achievement of the performance conditions is determined. Compensation expense for market-based PSUs is recognized based on the grant-date fair value of the target award and is not adjusted for estimated or actual achievement of the market conditions.

Employee Stock Purchase Plan

Under the ESPP, substantially all employees may purchase our common stock through payroll deductions at a price equal to 85% of the lower of the fair market value 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. The fair value of ESPP awards, including discount and look-back features, is measured using the Black-Scholes option pricing model, which also incorporates assumptions including expected term, risk-free interest rate, stock price volatility, and dividend yield. Compensation expense for the ESPP is recognized on a straight-line basis over the applicable offering period.

Stock-based Compensation Expense

The following table presents the stock-based compensation expense recognized in our Consolidated Statements of Operations for the three and six months ended September 30, 2026 and 2025. Stock-based compensation is attributable to RSUs, PSUs, and the ESPP.


	Three Months Ended September 30,				Six Months Ended September 30,
	2026		2025		2026		2025
Cost of revenues	$	1,435	$	1,323	$	2,838	$	2,572
Sales and marketing	14,642		12,757		28,810		25,343
Research and development	8,034		7,752		16,318		14,822
General and administrative	11,569		9,981		22,439		19,181
Restructuring	100		411		665		486
Stock-based compensation expense	$	35,780	$	32,224	$	71,070	$	62,404

As of September 30, 2026, there was $193,274 of unrecognized stock-based compensation expense that is expected to be recognized over a weighted-average period of 2.14 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.

The following table presents RSU and PSU activity for the six months ended September 30, 2026.


	Number of Shares	Weighted- Average Grant Date Fair Value
Outstanding as of March 31, 2026	1,742	$	133.22
Granted	791	122.01
Vested	(455)	126.97
Forfeited	(84)	174.25
Outstanding as of September 30, 2026	1,994	$	128.40

The weighted-average fair value of shares granted was $147.82 and $181.16 per unit during the three months ended September 30, 2026 and 2025, respectively, and $122.01 and $184.61 per unit during the six months ended September 30, 2026 and 2025, respectively. The fair value of awards includes awards with performance and market conditions.

Employee purchases under the ESPP were as follows: 88 shares in exchange for $6,585 of proceeds in the six months ended September 30, 2026, and 45 shares in exchange for $6,974 of proceeds in the six months ended September 30, 2025.

Stock Plans (Tables)

6 Months Ended

Sep. 30, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense


	Three Months Ended September 30,				Six Months Ended September 30,
	2026		2025		2026		2025
Cost of revenues	$	1,435	$	1,323	$	2,838	$	2,572
Sales and marketing	14,642		12,757		28,810		25,343
Research and development	8,034		7,752		16,318		14,822
General and administrative	11,569		9,981		22,439		19,181
Restructuring	100		411		665		486
Stock-based compensation expense	$	35,780	$	32,224	$	71,070	$	62,404

Schedule of RSU and PSU Activity

The following table presents RSU and PSU activity for the six months ended September 30, 2026.


	Number of Shares	Weighted- Average Grant Date Fair Value
Outstanding as of March 31, 2026	1,742	$	133.22
Granted	791	122.01
Vested	(455)	126.97
Forfeited	(84)	174.25
Outstanding as of September 30, 2026	1,994	$	128.40

Revenue - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2026	Sep. 30, 2026	Sep. 30, 2026
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized from remaining performance obligations		$ 1,074,729	$ 1,074,729
Revenue recognized in period, included in opening deferred revenue balance		$ 145,326	$ 315,486
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage		58.00%	58.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period		12 months	12 months
Term-based support \| Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Customer support arrangement term			1 year
Term-based support \| Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Customer support arrangement term			3 years
Software-as-a-service \| Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Subscription arrangement term			1 year
Software-as-a-service \| Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Subscription arrangement term			3 years
Perpetual support
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Customer support arrangement term			1 year
Subscription
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized from remaining performance obligations		$ 278,069	$ 278,069
Subscription \| Forecast
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage recognized	13.00%
Subscription \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage		43.00%	43.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period		12 months	12 months
Other services
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized from remaining performance obligations		$ 31,262	$ 31,262
Other services \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage		100.00%	100.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period		12 months	12 months

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2026	Mar. 31, 2026
Current assets:
Cash and cash equivalents	$ 897,250	$ 899,987
Trade accounts receivable, net	280,575	330,483
Other current assets	62,295	56,040
Total current assets	1,240,120	1,286,510
Deferred tax assets, net	145,975	153,766
Property and equipment, net	13,479	9,750
Operating lease assets	35,956	34,920
Deferred commissions cost	113,437	103,892
Intangible assets, net	17,204	19,715
Goodwill	209,168	209,322
Other assets	99,723	68,430
Total assets	1,875,062	1,886,305
Current liabilities:
Accounts payable	493	651
Accrued liabilities	159,107	165,583
Current portion of operating lease liabilities	7,443	6,963
Deferred revenue	472,746	484,973
Total current liabilities	639,789	658,170
Convertible notes, net	882,989	880,863
Deferred revenue, less current portion	291,114	293,725
Deferred tax liabilities	1,134	1,565
Long-term operating lease liabilities	30,937	29,675
Other liabilities	16,565	14,813
Commitments and contingencies (Note 6)
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, 40,892 shares and 41,255 shares issued and outstanding at September 30, 2026 and March 31, 2026, respectively	409	412
Additional paid-in capital	1,564,238	1,495,597
Accumulated deficit	(1,532,975)	(1,472,124)
Accumulated other comprehensive loss	(19,138)	(16,391)
Total stockholders’ equity	12,534	7,494
Total liabilities and stockholders’ equity	$ 1,875,062	$ 1,886,305

Segment Information (Tables)

6 Months Ended

Sep. 30, 2026

Segment Reporting [Abstract]

Schedule of Revenue by Geographic Area

The following table sets forth revenue by geographic area:


	Three Months Ended September 30,				Six Months Ended September 30,
	2026		2025		2026		2025
United States	$	176,453	$	150,608	$	347,725	$	307,507
Other	135,936		125,580		278,795		250,659
Total revenues	$	312,389	$	276,188	$	626,520	$	558,166

Net Income per Common Share - Schedule of Basic and Diluted Net Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Earnings Per Share [Abstract]
Net income	$ 29,111	$ 14,730	$ 50,250	$ 38,226
Basic net income per common share:
Basic weighted average shares outstanding (in shares)	41,261	44,406	41,303	44,366
Basic net income per common share (in dollars per share)	$ 0.71	$ 0.33	$ 1.22	$ 0.86
Diluted net income per common share:
Basic weighted average shares outstanding (in shares)	41,261	44,406	41,303	44,366
Dilutive effect of potential common shares (in shares)	960	789	754	898
Diluted weighted average shares outstanding (in shares)	42,221	45,195	42,057	45,264
Diluted net income per common share (in dollars per share)	$ 0.69	$ 0.33	$ 1.19	$ 0.84

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482705/350-40-65-4

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479719/606-10-65-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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

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