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) reported Q3 2022 financial results with revenues of $202.4 million, an 8% year-over-year increase. Non-GAAP EBIT was $43.1 million, with a margin of 21.3%, leading to diluted EPS of $0.67. Total recurring revenue reached $164.4 million, accounting for 81% of total revenues, and annualized recurring revenue (ARR) rose to $561.2 million, up 11% year-over-year. Operating cash flow improved to $26.8 million.
The company repurchased 1.3 million shares for $85.3 million.
Commvault (NASDAQ: CVLT) has appointed Danielle Sheer as its new Chief Legal and Compliance Officer, responsible for leading global legal and compliance initiatives. Sheer brings extensive experience in managing data privacy and governance, having worked with public technology firms and advised on IPOs and governance matters. Commvault's CEO, Sanjay Mirchandani, emphasized the increasing importance of data protection amidst rising threats like ransomware. The appointment aims to enhance the company’s role as a trusted leader in intelligent data services.
Commvault (NASDAQ: CVLT) will webcast its third quarter earnings results on January 25, 2022, starting at 8:30 a.m. ET. Investors can join the discussion via the company's investor relations website or by phone. A replay of the call will be available for seven days post-event. Commvault provides an Intelligent Data Services Platform that aids businesses in data management, offering various deployment options, including SaaS. With over 100,000 organizations as clients, Commvault emphasizes accessibility and flexibility in its services.
Commvault (NASDAQ: CVLT) will have its President and CEO, Sanjay Mirchandani, and CFO, Brian Carolan, participate in two virtual investor conferences. The first is on November 29 at 2:00 p.m. ET, hosted by KeyBanc Capital Markets. The second occurs on December 2 at 8:00 a.m. ET during the Wells Fargo Virtual TMT Summit. Investors can access live webcasts and replays on the Commvault Investor Relations website. Commvault is recognized as a leader in data backup and recovery, providing solutions that manage and protect critical data assets.
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.