Commvault Sys Inc Stock Price, News & Analysis

Commvault (NASDAQ: CVLT) is scheduled to webcast its Q2 fiscal 2023 earnings results on November 1, 2022, starting at 8:30 a.m. EST. Investors can access the call via a Registration Link for dial-in details. A replay will be available on their investor relations website. Commvault specializes in data management solutions, serving over 100,000 customers globally.

Commvault announced the launch of Metallic ThreatWise, a new cyber deception service designed to detect and contain ransomware threats. This innovative early warning system proactively identifies unknown and zero-day threats, helping to minimize data compromise. According to a survey, only 12% of IT directors feel confident in their data protection tools. ThreatWise utilizes decoys to lure attackers, enhancing security and incorporating machine learning capabilities. With over 100,000 customers, Commvault continues to solidify its position in data management.

Commvault has appointed Alan Atkinson as its new Chief Partner Officer, reporting to Riccardo Di Blasio, the Chief Revenue Officer. Atkinson brings extensive experience in cloud and data protection, having previously led companies such as WysDM Software and held a role at Dell. His addition is expected to enhance Commvault's partner ecosystem and strengthen strategic alliances with cloud partners. The company aims to leverage Atkinson's expertise to drive growth in its Metallic SaaS offerings and further develop its innovative data management platform.

Commvault, a leader in cloud data management, has been recognized by Gartner with the highest product scores in its 2022 Critical Capabilities report across all three evaluated use cases: Data Center (4.23/5), cloud (4.18/5), and edge environments (4.22/5). This achievement underscores Commvault's innovative solutions for data protection in complex environments. Additionally, Commvault was named a Leader in the 2022 Gartner Magic Quadrant for Enterprise Backup and Recovery Software Solutions, reflecting its strong execution and vision in the market.

Commvault has been recognized as a Leader in the 2022 Gartner Magic Quadrant for Enterprise Backup and Recovery Software Solutions. This marks the 11th consecutive year for this distinction. The evaluation highlights Commvault's strength in providing integrated solutions for ransomware protection and its recent partnership with Oracle to enhance its Metallic Data Management as a Service. The company focuses on assisting enterprises with hybrid cloud data management needs, thereby addressing increasing security threats and data challenges.

Commvault reported strong financial growth for the first quarter of fiscal 2023, with total revenue reaching $198.0 million, an 8% year-over-year increase. On a constant currency basis, revenue grew by 13%. Total recurring revenue surged 20% year-over-year, hitting $170.8 million, with annualized recurring revenue (ARR) increasing 12% to $594.5 million. The company reported diluted earnings per share of $0.08 under GAAP and $0.64 on a non-GAAP basis, with an operating cash flow of $22.4 million.

Commvault has been recognized as a "Frontrunner" and "Outperformer" in GigaOm's latest reports on hybrid cloud data protection for both large enterprises and SMBs. The platform scored top ratings in cyber resiliency, data management, and Kubernetes support. Commvault's Metallic SaaS portfolio was praised for its innovation and ability to meet the needs of diverse workloads, addressing threats like ransomware and complex regulatory requirements. This accolade underscores Commvault's commitment to delivering comprehensive and effective data solutions across various platforms.

Commvault (NASDAQ: CVLT) will host a webcast to discuss its first quarter fiscal 2023 earnings results on July 26, 2022, at 8:30 a.m. ET. Interested participants can access the call via phone or through a webcast available on Commvault's investor relations page. The company emphasizes its Intelligent Data Services Platform, which supports businesses in data management, showcasing its significance in modern data environments.

Commvault has expanded its partnership with Oracle to offer Metallic Data Management as a Service (DMaaS) on Oracle Cloud Infrastructure (OCI). This collaboration aims to enhance data protection for enterprise customers against threats while ensuring compliance with local data residency laws. Metallic DMaaS delivers improved security and simplified recovery options, facilitating seamless integration between on-premises and cloud environments. The service aims to combat ransomware and unauthorized data access across various sectors, leveraging OCI's advanced security features and storage capabilities.