Commvault Systems ( (CVLT) ) has realeased its Q2 earnings. Here is a breakdown of the information Commvault Systems presented to its investors.
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Commvault Systems, a leader in cyber resilience, is committed to helping over 100,000 organizations secure their data and ensure business continuity. The company offers a unique platform that integrates data security and rapid recovery at an enterprise scale.
Commvault Systems has reported a robust fiscal second quarter with a 16% year-over-year increase in total revenues, reaching $233.3 million. The company also saw a 20% increase in total annualized recurring revenue (ARR), while subscription revenue surged by 37% to $134 million, marking a successful phase of double-digit growth.
Key financial highlights include an operating income of $15 million, with a non-GAAP EBIT of $47.7 million representing a 20.5% operating margin. The company’s free cash flow stood at $53.7 million, reflecting strong operational cash generation. Additionally, Commvault repurchased $51.9 million worth of shares, showcasing confidence in its market position.
Looking ahead, Commvault’s guidance for the fiscal year anticipates revenue between $952 million and $957 million, with subscription ARR growth projected between 26% and 28%. The company’s strategic acquisition of Clumio, Inc. is expected to bolster its offerings and contribute to sustained growth.
Commvault’s management remains optimistic about future performance, driven by innovation in its cloud platform and increasing demand for its solutions, positioning the company for continued success in the competitive cyber resilience market.
