Commvault Sys Inc Stock Price, News & Analysis

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Commvault (NASDAQ: CVLT) announced the expansion of its award-winning Metallic™ Backup-as-a-Service (BaaS) solutions across the EMEA region, including the UK, Belgium, and Sweden. This move addresses rising business concerns regarding cost, scalability, and security for data protection. Metallic's offerings are designed for GDPR compliance, integrating with Microsoft Azure for enhanced data security. As cloud adoption increases, particularly in early adopter markets, Commvault aims to support organizations in navigating stringent privacy laws. The solutions are available via the Microsoft Azure Marketplace.

Commvault reported its second quarter financial results for the period ending September 30, 2020, with total revenues of $171.1 million, a year-over-year increase of 2%.

The company incurred a GAAP loss from operations of $(42.0) million, primarily due to $40.7 million in non-cash impairment charges related to the acquisition of Hedvig, Inc. In contrast, non-GAAP income from operations reached $28.9 million, marking a rise from $24.8 million the previous year.

Recurring revenue grew by 6% year-over-year, totaling $129.1 million.

Commvault (NASDAQ: CVLT) will announce its financial results for the fiscal second quarter ended September 30, 2020, on October 27, 2020. A live webcast and conference call will take place at 8:30 a.m. Eastern Time. Investors can access the call by dialing domestic (844) 742-4247 or international (661) 378-9470. Additionally, a telephone replay will be available for seven days post-call. Commvault is recognized as a leader in data backup and recovery, employing over 2,500 individuals globally.

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Commvault (NASDAQ: CVLT) has launched the Metallic Cloud Storage Service, integrating cloud storage for backup and recovery via Microsoft Azure. This service allows customers to easily adopt cloud storage while enhancing ransomware readiness by providing an air-gapped cloud copy. It features a single management interface, promoting data security and resiliency against cyber threats, which have surged by 400% amid the pandemic. The service is now available in North America, EMEA, and APAC, simplifying cloud management for businesses.

Commvault (NASDAQ: CVLT) is hosting a webinar on September 21, 2020, focusing on the environmental impact of data management, featuring industry experts from Forrester, Microsoft, and WeTransfer. The event aims to discuss how to manage data sustainably during Climate Week and coincides with the United Nations General Assembly. Commvault is part of the Business Avengers coalition, supporting the 17 Sustainable Development Goals, specifically SDG 12: Responsible Consumption and Production. The company emphasizes the importance of reducing the IT carbon footprint as part of its commitment to sustainability.

On September 16, 2020, Commvault (CVLT) announced a collaboration with Pure Storage to create a new reference design aimed at enhancing data management and protection. This integration combines Commvault's Complete Data Protection with Pure's FlashBlade platform, delivering a high-performance solution for rapid data recovery. The partnership responds to increasing remote work-related data challenges, facilitating compliance and cost-effective data accessibility. The technology simplifies backup and management across diverse environments, leveraging machine learning for improved analytics and risk reduction.

Commvault (NASDAQ: CVLT) has attained the AWS Outposts Ready designation, recognizing its Commvault Complete™ Data Protection as fully integrated with AWS Outposts. This designation supports businesses in implementing a hybrid cloud experience, streamlining disaster recovery strategies. Commvault’s offerings enhance data protection across various platforms, including Amazon EC2 and Amazon RDS, promoting operational efficiency and ROI through automated migration tools.