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Commvault Systems, Inc. (NASDAQ: CVLT) is a leading provider of data protection and information management solutions, serving over 100,000 organizations worldwide. The company offers a comprehensive suite of software applications and services designed to help businesses protect, access, and use their data as a strategic asset. Commvault's software solutions include Commvault Complete Backup and Recovery, HyperScale, Hedvig, and Metallic, catering to large enterprises, small- and midsize businesses, as well as government agencies.
Headquartered in Tinton Falls, New Jersey, Commvault operates globally, with a significant presence in the United States and extensive export operations. The company's core products and services enable organizations to achieve cyber resilience by securing, protecting, and rapidly recovering data across various workloads and infrastructures.
Recent key developments include the expansion of Commvault's leadership team in the Asia Pacific (APAC) region with the appointments of Michel Borst and Joanne Dean as Area Vice Presidents. This strategic move aims to enhance the company's cyber resilience capabilities and strengthen its partner ecosystem in the region.
Additionally, Commvault's newly formed Cyber Resilience Council, chaired by cybersecurity expert Melissa Hathaway, focuses on addressing emerging security trends and threats. The council's insights play a crucial role in shaping product development and guiding business strategies, further solidifying Commvault's position as a leader in cyber resilience.
Financially, Commvault has demonstrated robust performance, with significant revenue and annualized recurring revenue (ARR) growth in recent quarters. The company's latest financial results highlight its strong market position and ongoing commitment to innovation and customer success.
Commvault's flagship product, the Commvault Cloud platform powered by Metallic AI, offers advanced data security and rapid recovery capabilities, ensuring businesses can maintain operations and recover swiftly from cyber-attacks. The platform's AI-driven automation and low total cost of ownership (TCO) provide a competitive edge in today's digital landscape.
For more information and the latest updates on Commvault's performance, events, and developments, visit their investor relations page at http://ir.commvault.com.
Commvault reported first-quarter financial results for the period ended June 30, 2021, with total revenues of $183.4 million, marking a 6% increase year over year. Income from operations (EBIT) stood at $15.5 million with an EBIT margin of 8.4%, while diluted EPS was $0.29. Notably, non-GAAP EBIT was $41.0 million with a 22.4% margin, and diluted EPS was $0.62. Total recurring revenue constituted 78% of total revenue, with annualized recurring revenue reaching $532.8 million, a 13% increase from the previous year.
Commvault (NASDAQ: CVLT) has been recognized as a "Leader" in the 2021 Gartner Magic Quadrant for Enterprise Backup and Recovery Software Solutions, marking its 10th consecutive appearance in this category. This report highlights the company's strong positioning in addressing critical data protection needs, including ransomware protection and hybrid cloud solutions. Ranga Rajagopalan, VP of Product Management, emphasized Commvault's SaaS leadership and flexible delivery models, catering to diverse customer requirements. For more insights, the Gartner report is accessible via Commvault's website.
Commvault (NASDAQ: CVLT) announces its support for the AWS for Health initiative, providing secure and scalable data management solutions for healthcare organizations. This collaboration offers comprehensive data protection for critical information, including patient records, leveraging AWS's cloud capabilities. Commvault's Intelligent Data Services seamlessly integrate into AWS environments, facilitating data storage, protection, and optimization. With an increasing need for data security in healthcare, this partnership aims to address challenges posed by data breaches and ransomware.
Meridian Group International announced the launch of mProtect Flex™, a consumption-based data protection model powered by Commvault. This solution aims to help customers optimize technology investments and reduce costs, offering a scalable approach for enterprise data management. Coupled with Commvault's Intelligent Data Services Platform, the partnership ensures comprehensive data protection for businesses transitioning to cloud environments. Meridian's global scale and expertise position it as a leading service provider in this domain, focusing on unique purchasing models that meet evolving customer needs.
Commvault (NASDAQ: CVLT) has launched a partnership with SoftwareONE, becoming its first global design partner for Metallic-based SaaS data protection solutions. This collaboration aims to offer BackupSimple powered by Metallic, a cloud-based managed service for data backup and recovery. With this partnership, customers can expect streamlined onboarding, robust management capabilities, and enhanced operational processes. The initiative is positioned to disrupt the data management market, harnessing the advantages of SaaS to accelerate adoption among Managed Service Providers (MSPs).
Commvault (NASDAQ: CVLT) will announce its fiscal first quarter financial results on July 27, 2021, covering the period ending June 30, 2021. A conference call will be held at 8:30 a.m. Eastern Time for investors to discuss the results. This event will be accessible via live webcast, with an archived version available later.
Commvault specializes in data backup and recovery solutions, aiming to safeguard and manage enterprise data effectively.
Commvault (NASDAQ: CVLT) has been named the 2021 Hewlett Packard Enterprise (HPE) GreenLake Momentum Partner of the Year at HPE Discover 2021. This recognition highlights Commvault's commitment to customer excellence and strong performance in financial metrics and innovative solutions. The company's Intelligent Data Services Platform offers flexible, scalable data management solutions, crucial for modern enterprises. The partnership with HPE facilitates effective collaborations, particularly with offerings like GreenLake Backup-as-a-Service, which enhance customer data protection and operational efficiency.
Commvault (NASDAQ: CVLT) has been recognized as a 'leader' and 'outperformer' in GigaOm's reports for Hybrid Cloud Data Protection across enterprise and SMB sectors. The company received top ratings in all Key Criteria and Evaluation categories, showcasing its robust solutions for data protection in complex environments. The reports highlight Commvault's ability to address the challenges of cloud-based data protection, appealing to various market segments. With a focus on simplicity and efficiency, Commvault aims to protect customer data, irrespective of its location.
Commvault (NASDAQ: CVLT) has announced its new Metallic Government Cloud offerings, achieving 'High Ready' status from FedRAMP for its Backup-as-a-Service (BaaS) and Cloud Storage Service. This certification makes Metallic the only comprehensive SaaS data protection solution that meets stringent U.S. government standards for data confidentiality, integrity, and availability. Additionally, the company has received compliance readiness attestation from the FBI's CJIS, reinforcing its security measures. The launch includes the first FedRAMP High Ready service for Office 365.
Commvault (NASDAQ: CVLT) announced enhancements to its Managed Service Provider (MSP) and Aggregator Partner Advantage Programs on June 9, 2021. These updates aim to better support partners in delivering Intelligent Data Services to their clients. The program offers multiple partnership models, incentives for profitability, training resources, and marketing tools. Commvault plans to add its Metallic service for MSPs later this year, allowing partners to expand their offerings. The changes reflect a commitment to address the evolving IT landscape and partner needs in a multi-cloud environment.
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