Commvault, who specialise in data storage, security and recovery, have announced a 16% jump in global financial growth for their fiscal second quarter.
This is the fourth consecutive quarter of double-digit growth for Commvault.
CEO and President, Sanjay Mirchandani, who visited Australia earlier in 2024, said of the results:
“Keeping customers resilient and their businesses continuous has never been more critical than it is today. Our strong execution and increasing demand for our innovative Commvault Cloud platform has not only resulted in our fourth consecutive quarter of double-digit revenue growth, but it has given us the confidence to once again raise our outlook for the full fiscal year.”
Fiscal 2025 Second Quarter Highlights for Commvault:
- Total revenues were $233.3 million, up 16% year over year
- Total annualised recurring revenue (ARR)1 grew to $853 million, up 20% year over year
- Subscription revenue was $134.0 million, up 37% year over year
- Subscription ARR1 grew to $687 million, up 30% year over year
- Income from operations (EBIT) was $15.0 million, an operating margin of 4%
- Non-GAAP EBIT2 was $47.7 million, an operating margin of 5%
- Operating cash flow was $55.6 million, with free cash flow2 of $53.7 million
- Second quarter share repurchases were $51.9 million, or approximately 363,000 shares of common stock
The company expects to earn total revenues of between $243 million and $247 million looking ahead to Q3 with a non-GAAP operating margin2 of between 20% and 21%.
Subscription revenue for Q3 is expected to be between $143 million and $147 million.
Looking further ahead, the company is expecting total ARR to grow 18% year over year for the full fiscal 2025 period.
Security Solutions hosted APAC Vice-President Martin Creighan in late October, who spoke to us about cyber resilience, how to defend against a cyber breach and the necessity of testing a cyber safety plan.
