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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) announced the expansion of its Metallic SaaS portfolio, introducing the Intelligent Data Services Platform to meet rising demand for effective data management. The new offerings include Metallic Backup for Microsoft Dynamics 365 and HyperScale X for Metallic, enhancing flexibility for hybrid cloud data protection. With a 16.8% CAGR projected growth in data protection as a service, Commvault continues to lead in SaaS solutions, having doubled its Metallic customer base each quarter in fiscal 2021, now available in 24 countries.
Commvault (NASDAQ: CVLT) will present at the Needham Virtual Technology & Media Conference on May 19, 2021, at 12:45 p.m. Eastern Time. The presentation will be led by Sanjay Mirchandani, President and CEO, along with Brian Carolan, CFO. Interested parties can access the live webcast via Commvault's Investor Relations website, with a replay available for 90 days.
Commvault specializes in data backup and recovery, offering innovative solutions tailored for enterprises.
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Commvault reported strong financial results for the fourth quarter and fiscal year 2021, with revenues reaching $191.3 million for Q4 and $723.5 million for the fiscal year, marking increases of 16% and 8% year-over-year, respectively. The net income for Q4 was $6.3 million and a net loss of $31.0 million for the year, although non-GAAP net income showed positive growth. Operating cash flow for Q4 was $64.7 million, reflecting a significant increase from the previous year. Commvault remains optimistic about future growth and transformation efforts.
Commvault (NASDAQ: CVLT) will announce financial results for its fiscal fourth quarter and full year ended March 31, 2021, on May 4, 2021, at 8:30 a.m. ET. A webcast will follow the announcement, allowing investors to access the information live. Commvault, headquartered in Tinton Falls, NJ, leads in data backup and recovery, with over 2,600 employees globally. The company emphasizes its commitment to delivering solutions that effectively manage and utilize critical data assets. Forward-looking statements regarding financial projections are included, indicating potential risks and uncertainties.
Commvault (NASDAQ: CVLT) will participate in the William Blair Tech Innovators conference on March 11, 2021, with a presentation by Sanjay Mirchandani, CEO, and Brian Carolan, CFO at 2:00 p.m. Eastern Time. An archived webcast will be available post-event on their investor relations page. Commvault is recognized for its leadership in data backup, recovery, and cloud solutions. They are headquartered in Tinton Falls, New Jersey and employ over 2,600 skilled professionals globally.
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Commvault (NASDAQ: CVLT) announced the appointment of Isabelle Guis as the new Chief Marketing Officer. With over two decades in B2B tech marketing, Guis will spearhead Commvault's global marketing strategy, leveraging her expertise from roles at Salesforce and Egnyte. Guis aims to enhance Commvault's brand presence amidst strong company momentum, according to CEO Sanjay Mirchandani. Her proven track record includes significant market expansions, indicating potential growth for Commvault's data management solutions.
Commvault (NASDAQ: CVLT) has partnered with Skytap to enhance data protection and migration for IBM i (AS/400) workloads on Microsoft Azure. This collaboration aims to help businesses transition from mainframe technology to cloud solutions, providing cost-effective and reliable backup and recovery services through Commvault’s data management solutions. As businesses migrate to Skytap on Azure, they will retain their trusted data protection capabilities. This partnership strengthens Commvault's presence in the cloud data management space, aligning with the growing demand for hybrid cloud solutions in various industries.
Commvault reported its financial results for Q3 FY2021, ending December 31, 2020, with total revenues of $188.0 million, marking a 7% year-over-year increase. Notably, recurring revenue reached $140.0 million, up 13% year-over-year. Non-GAAP income from operations stood at $37.3 million, yielding an EBIT margin of 19.8%. The diluted EPS was $0.57. Cash flow from operations improved significantly to $17.0 million. Commvault's annualized recurring revenue (ARR) increased to $507.2 million, up 11% from the previous year.