Commvault Systems ( (CVLT) ) has released its Q3 earnings. Here is a breakdown of the information Commvault Systems presented to its investors.
Commvault Systems, a leader in cyber resilience technology, offers a comprehensive platform for data protection and recovery across various workloads. The company recently reported a strong fiscal third-quarter performance, highlighted by record revenue growth and expansion of its cyber resilience solutions. Commvault’s fiscal third-quarter results showcased a total revenue of $262.6 million, marking a 21% increase year over year. The company’s subscription revenue rose significantly by 39%, contributing to a substantial growth in annualized recurring revenue to $890 million. Non-GAAP income from operations reached $54.6 million, representing a healthy operating margin of 20.8%. Notably, Commvault repurchased $31.9 million worth of its shares during the quarter, indicating confidence in its market position. Looking ahead, Commvault anticipates continued growth with projected revenues between $980 million and $985 million for the fiscal year 2025, alongside a stable operating margin. The company’s focus on enhancing its cyber resilience offerings positions it well for future market demands.