Commvault Reports Record-Breaking Financial Results for Q3 of Fiscal Year 2025
Commvault Reports Record-Breaking Financial Results for Q3 of Fiscal Year 2025
On January 28, 2025, Commvault, a prominent player in the field of cyber resilience, disclosed its financial achievements for the third quarter of the fiscal year ending December 31, 2024. This quarter marks yet another successful chapter in the company's financial story, as it continues to innovate and lead within the cybersecurity realm.
Financial Highlights
Commvault's total revenue reached $262.6 million for the third quarter, marking a noteworthy 21% increase compared to the previous year. Subscription revenue surged impressively by 39%, totaling $158.3 million, which showcases the growing adoption of the company's subscription services. Furthermore, the annualized recurring revenue (ARR) saw a substantial increase, arriving at $890 million, which represents an 18% year-over-year growth. This segment alone grew by 21% when considering constant currency factors.
The company's positive performance is largely attributed to its commitment to delivering cyber resilience solutions, enabling clients to prepare for and recover from unforeseen cyber incidents. CEO Sanjay Mirchandani emphasized the value of Commvault’s integrated platform, highlighting its importance for customers aiming to safeguard their data against increasing cyber threats.
Key Financial Metrics
- - Total Revenue: $262.6 million (21% increase YoY)
- - Subscription Revenue: $158.3 million (39% increase YoY)
- - Annualized Recurring Revenue (ARR): $890 million (18% increase YoY)
- - EBIT: $13.6 million (5.2% operating margin)
- - Non-GAAP EBIT: $54.6 million (20.8% operating margin)
- - Operating Cash Flow: $30.1 million
In addition, Commvault reported a significant operating cash flow of $30.1 million, supplementing its robust financial standing. The company also initiated share repurchases, investing approximately $31.9 million to buy back about 200,000 shares at an average price of $160.07 per share.
Outlook for the Future
Looking ahead, Commvault’s management provided guidance for the fourth quarter and the full fiscal year 2025. The anticipated total revenue for the fourth quarter is estimated to fall between $260 million and $264 million, with subscription revenue expected between $160 million and $164 million.
For the complete fiscal year, Commvault forecasts total revenues between $980 million and $985 million, and the company aims to maintain its 20-21% operating margin. Such predictions underscore management's confident outlook as they navigate the evolving landscape of cybersecurity and data protection.
Conference Call and Additional Information
Commvault is scheduled to hold a conference call on January 28, 2025, at 8:30 AM ET (5:30 AM PT) to elaborate further on these financial results and share insights into future strategies. Investors and interested stakeholders can access this call through Commvault’s investor relations website.
Conclusion
Commvault's latest financial results reflect its strong market position and growth trajectory within the realm of cyber resilience. As organizations seek advanced solutions to protect their essential data, Commvault remains committed to providing innovative technologies that can withstand and adapt to current cybersecurity challenges. The ongoing increase in subscription adoption points to a firm belief in the value of Commvault's offerings, promising sustainable growth as the need for robust data security solutions continues to rise.
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Topics Financial Services & Investing）
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