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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 (NASDAQ: CVLT) announced significant enhancements to its Metallic Backup-as-a-Service (BaaS) offerings, expanding its portfolio with new data protection solutions including Salesforce Backup and enhancements for Microsoft Teams. The company is now providing support in 23 countries, adding nine new EMEA countries. Metallic's hybrid cloud capabilities are enhanced with the introduction of HyperScale X. These innovations aim to meet rising demand for cloud-based data protection solutions amid increased remote work and data risks.
Commvault (NASDAQ: CVLT) appointed John Tavares as Vice President, Global Channel and Alliances, effective January 6, 2021. With over 25 years at Dell EMC, Tavares is tasked with expanding Commvault's Global Partner Organization and enhancing partner relationships globally. His experience in driving revenue growth and building sales teams is expected to boost Commvault's reputation in data management solutions. Tavares succeeds Mercer Rowe, who will now focus on strengthening Commvault's SaaS division, Metallic, in Japan and Asia Pacific.
Commvault (NASDAQ: CVLT) will announce its financial results for the fiscal third quarter ending December 31, 2020, on January 27, 2021. A detailed earnings letter will be available on their investor relations site. Following the results release, the FutureReady Investor Event is scheduled for 11:00 a.m. ET to discuss quarterly performance and long-term strategy. Investors can register for the live webcast and access archived material post-event. The company emphasizes its leadership in data management solutions and its commitment to providing value to its investors.
Commvault (NASDAQ: CVLT) has enhanced its Commvault Disaster Recovery solution to support automated recovery for VMware workloads, integrating with Microsoft Azure and Amazon Web Services. This upgrade features continuous data replication and automated failover with sub-minute Recovery Point Objectives (RPOs) and near-zero Recovery Time Objectives (RTOs). The platform aims to meet evolving disaster recovery needs, addressing challenges like ransomware and site disasters, while providing customers with robust cross-cloud migration capabilities.
On November 19, 2020, Commvault (NASDAQ: CVLT) was recognized as an 'outperformer' by GigaOm in its report on Kubernetes data protection. This accolade reflects Commvault's effectiveness in simplifying data protection for Kubernetes and hybrid cloud environments through its Hedvig Distributed Storage Platform and Complete Data Protection solutions. Additionally, Commvault launched the Metallic VM and Kubernetes Backup, enhancing its offerings in the market and catering to growing enterprise needs for container management.
Commvault (NASDAQ: CVLT) announced new offerings for enterprise-grade data protection for Kubernetes, including the Metallic VM & Kubernetes Backup solution. This solution enhances Commvault's Hedvig Distributed Storage and Complete Data Protection. Customers purchasing 10 or more VMs by May 18, 2021, will get Kubernetes Backup free for the subscription's lifetime. The new offerings simplify data protection across hybrid and multi-cloud environments.
Commvault (NASDAQ: CVLT) announced the expansion of its award-winning Metallic™ Backup-as-a-Service (BaaS) solutions across the EMEA region, including the UK, Belgium, and Sweden. This move addresses rising business concerns regarding cost, scalability, and security for data protection. Metallic's offerings are designed for GDPR compliance, integrating with Microsoft Azure for enhanced data security. As cloud adoption increases, particularly in early adopter markets, Commvault aims to support organizations in navigating stringent privacy laws. The solutions are available via the Microsoft Azure Marketplace.
Commvault reported its second quarter financial results for the period ending September 30, 2020, with total revenues of $171.1 million, a year-over-year increase of 2%.
The company incurred a GAAP loss from operations of $(42.0) million, primarily due to $40.7 million in non-cash impairment charges related to the acquisition of Hedvig, Inc. In contrast, non-GAAP income from operations reached $28.9 million, marking a rise from $24.8 million the previous year.
Recurring revenue grew by 6% year-over-year, totaling $129.1 million.
Commvault (NASDAQ: CVLT) will announce its financial results for the fiscal second quarter ended September 30, 2020, on October 27, 2020. A live webcast and conference call will take place at 8:30 a.m. Eastern Time. Investors can access the call by dialing domestic (844) 742-4247 or international (661) 378-9470. Additionally, a telephone replay will be available for seven days post-call. Commvault is recognized as a leader in data backup and recovery, employing over 2,500 individuals globally.
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