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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.
Commvault (NASDAQ: CVLT) has launched Metallic Security IQ, a unified security dashboard designed to enhance data security across its entire Metallic portfolio. This feature offers real-time insights into potential threats and vulnerabilities, aiding IT administrators in making informed data recovery decisions amid increasing cyber threats. The dashboard integrates zero-trust controls and is a key tool in the ongoing battle against ransomware. As cybercrime escalates, this innovation positions Commvault to better serve businesses seeking robust data protection and recovery solutions.
Commvault (NASDAQ: CVLT) has expanded its Metallic MSP ecosystem with the addition of three new Managed Service Provider partners: Veristor, GM Sectec, and Data Management Professionals South Africa. This growth enhances accessibility to Metallic Data Management-as-a-Service (DMaaS) solutions globally. The MSP program simplifies data management and reduces overhead for customers, addressing their digital transformation needs. With new partners, Commvault aims to strengthen its market position and provide comprehensive data protection solutions across various platforms.
Commvault reported its financial results for Q2 FY2022, highlighting revenues of $177.8 million, a 4% year-over-year increase. Recurring revenue accounted for 79% of total revenue, reaching $140.7 million. Non-GAAP income from operations was $31 million with a margin of 17.4%, while GAAP income from operations stood at $2.3 million. The company noted the impact of delayed software opportunities and supply chain issues. Operating cash flow was $26.1 million, with cash and short-term investments totaling $295.8 million.
Commvault (NASDAQ: CVLT) announced the launch of its Backup & Recovery and Professional Services in the AWS Marketplace on October 22, 2021. This move enhances data protection for AWS customers, enabling scalable and secure enterprise-grade solutions. Commvault's collaboration with AWS aims to facilitate the digital transformation of businesses, providing tools to protect data across cloud and on-premises environments. Customers will benefit from optimized efficiency and reduced costs through intelligent automation.
Commvault (NASDAQ: CVLT) will announce its financial results for the fiscal second quarter ending September 30, 2021, on October 26, 2021, at 8:30 a.m. ET. Following the release, a webcast and conference call will be held for investors, providing a platform to discuss results and outlook. Investors can access the call via a dedicated conference line or through a live webcast on Commvault's investor relations website. An archived replay will be available after the call for those unable to attend live.
Commvault (NASDAQ: CVLT) has announced a significant global expansion of its Metallic™ Backup-as-a-Service (BaaS) solutions, now available in 30 countries, including several in Asia. This expansion responds to the growing demand for cloud-delivered data management services. Metallic offers a comprehensive, cloud-native portfolio for enterprise workloads, ensuring rapid data recovery and compliance. Recently introduced solutions include backup for Microsoft Dynamics 365 and Microsoft Azure Active Directory. Commvault is enhancing its presence in Asia through partnerships, aiming to support the region's increasing SaaS requirements.
Commvault (NASDAQ: CVLT) has launched new ransomware protection and response services to enhance businesses' defenses against rising cyber threats. With ransomware attacks becoming increasingly common and costly, these services assist in validating preparedness and recovering from incidents. Key features include a readiness scorecard, a Ransomware Recovery Incident Manager, and tailored recommendations for organizations. This proactive approach aims to minimize downtime and expedite recovery during attacks, reflecting Commvault's commitment to data security.
ORock Technologies has partnered with Commvault (NASDAQ: CVLT) to enhance data protection solutions for businesses in highly regulated industries. The collaboration aims to facilitate seamless cloud migration and comprehensive backup and recovery services. Leveraging ORock's secure cloud infrastructure and Commvault's data management software, the partnership addresses increasing cyber threats while offering cost-effective, scalable solutions. This enables clients to maintain data integrity without incurring egress charges and enhances operational efficiency.
Commvault (NASDAQ: CVLT) has been recognized by Gartner for the second consecutive year, achieving the highest product scores in all three use cases of its 2021 Critical Capabilities report: datacenter environments (4.13/5), cloud environments (4.02/5), and edge environments (4.01/5). Additionally, Commvault was named a Leader in the 2021 Gartner Magic Quadrant for Enterprise Backup and Recovery Software Solutions. The company continues to innovate, providing flexible deployment options and enhancing data protection across various environments.
Commvault reported first-quarter financial results for the period ended June 30, 2021, with total revenues of $183.4 million, marking a 6% increase year over year. Income from operations (EBIT) stood at $15.5 million with an EBIT margin of 8.4%, while diluted EPS was $0.29. Notably, non-GAAP EBIT was $41.0 million with a 22.4% margin, and diluted EPS was $0.62. Total recurring revenue constituted 78% of total revenue, with annualized recurring revenue reaching $532.8 million, a 13% increase from the previous year.