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Commvault Systems, Inc. reports on cyber resilience software, data protection, identity resilience, and cloud recovery for enterprise environments. Company news centers on Commvault Cloud, Clumio, and Commvault Flex, including support for hyperscale cloud storage, Red Hat OpenShift Virtualization, immutable SaaS backups, air-gapped recovery, and AI-related data governance.
Recurring updates also cover subscription and SaaS revenue trends, annual recurring revenue, cash flow, partner ecosystem expansions, product demonstrations, and leadership appointments. The company sells software licenses and services to large enterprises, small and midsize businesses, and government agencies through direct sales and reseller partners.
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Commvault (NASDAQ: CVLT) announced it will host a webcast discussing its fourth quarter and fiscal year 2023 earnings results on May 2, 2023, at 8:30 a.m. ET. Participants can access the call via phone by registering for a unique PIN. A replay of the call will be available afterward. As a global leader in cloud data protection, Commvault offers a unified Data Protection Platform that supports various data environments. With over 100,000 organizations relying on its solutions, Commvault aims to help businesses effectively protect, store, and utilize their data, driving growth and innovation.
Commvault has achieved a prestigious 5-star rating in the 2023 CRN Partner Program Guide, marking a decade of success through its Partner Advantage Program. This recognition highlights the company's commitment to fostering strong partnerships, offering world-class technology solutions, and providing extensive support for partners. Commvault's program focuses on simplifying offerings, addressing customer challenges, and driving growth. The 2023 guide will be featured in the April issue of CRN. Commvault continues to empower over 100,000 organizations with its Intelligent Data Services Platform, allowing them to protect, store, and optimize data efficiently.
Commvault has announced that Alan Atkinson, its first Chief Partner Officer, has been recognized on the 2023 CRN Channel Chiefs list. This annual recognition honors IT channel executives who have significantly advanced channel partner programs and strategies. Atkinson is tasked with enhancing Commvault's relationships with resellers and cloud partners while further developing the Commvault Partner Advantage Program. The announcement underscores Atkinson's influence in navigating complex industry dynamics, essential for thriving channel partnerships. The recognition is documented in the February 2023 issue of CRN Magazine.
Commvault, a leader in enterprise data protection, has appointed Anna Griffin as its new Chief Marketing Officer as of February 1, 2023. With extensive experience at high-growth SaaS companies and global brands, Griffin aims to elevate awareness of Commvault's innovative data protection technologies. Commvault's President and CEO, Sanjay Mirchandani, emphasizes Griffin's capability in building strong brands and communicating the company's value in safeguarding data. Commvault continues to enhance its position in the cloud data protection market, serving over 100,000 organizations globally.
Commvault reported its financial results for the third quarter ended December 31, 2022, revealing total revenues of $195.1 million, a 4% decline year over year. The company recorded a diluted loss per share of $(0.01) under GAAP, but non-GAAP results showed a diluted EPS of $0.62. Total recurring revenue increased by 2%, reflecting strength in its Metallic service. Operating cash flow rose 13% to $30.2 million. Commvault also initiated a corporate headquarters sale for $40 million, aiming for a fiscal 2024 completion. Despite challenges such as a 9% drop in software and products revenue, ARR grew by 14%.