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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, in collaboration with GigaOm, released the 2024 Cyber Recovery Readiness Report, which surveyed 1,000 security and IT professionals from 11 countries to identify strategies for improving cyber resilience. The report highlights five key capabilities, termed 'resiliency markers,' that when implemented together, enable faster recovery from cyberattacks and fewer breaches. Organizations using at least four markers recovered 41% faster and had better breach prevention and cyber-readiness confidence compared to those with fewer markers. The survey revealed only 13% of companies are 'cyber mature,' and frequent testing of recovery plans is important to maintaining resilience.
Commvault has achieved FedRAMP High Authorization for its Cloud for Government SaaS data protection solutions, a certification denoting the highest level of security compliance for handling sensitive U.S. government data. This certification ensures Commvault's ability to protect controlled unclassified information (CUI) in cloud environments for government agencies and contractors.
Commvault's solutions meet stringent security standards set by the National Institute of Standards and Technology (NIST), providing advanced features like continuous cyber recovery plan testing and automated recovery to isolated, secure environments. These solutions are hosted in government cloud deployment models, compliant with U.S. federal regulations.
This achievement underscores Commvault's commitment to delivering top-tier data protection, enhancing cyber resilience, and ensuring the security of critical government data. The U.S. Department of the Treasury, along with other federal agencies, supports this milestone, acknowledging its importance in maintaining secure and reliable data protection services.
Commvault has announced its sponsorship of the MI New York cricket team for the 2024 Major League Cricket season. This partnership aims to increase the visibility of cricket in the U.S. and engage with cricket fans through various initiatives such as watch parties, contests, and clinics. The Commvault logo will be featured on jerseys, stadium signage, and across TV and social media platforms. The sponsorship also emphasizes community engagement, offering tickets to local charitable initiatives. The collaboration aims to educate a broader audience about resilience, both on and off the field.
Commvault has appointed Gareth Russell as the Field Chief Technology Officer, Security for APAC. This role aims to boost Commvault's cyber resilience services in the region. Russell, a cybersecurity expert with extensive experience in cyber strategy and risk management, will focus on enhancing cyber resilience strategies for APAC enterprises.
A recent Commvault & Tech Research Asia report highlights low cyber resiliency maturity in APAC, with 50% of organizations having a 'very immature' capability and only 4% being proactive. Cyberattacks are rampant, with over 60% of Australian and New Zealand organizations experiencing attacks in the last 12 months, but only 35% recovering all their data. Russell aims to address these challenges by improving recovery capabilities and cyber preparedness.
Commvault celebrates CRN's 2024 Women of the Channel by naming 19 of its global executives to the list. These women leaders from vendor, distributor, and solution provider organizations are recognized for their vision, leadership, and commitment to innovation in the technology industry. The honorees showcase ongoing dedication to driving success for partners and customers, furthering channel excellence.
Commvault has won the 'Trailblazing Cyber Resilience' Global InfoSec Award at RSA Conference 2024 for its innovative Cloud Platform with Cleanroom Recovery technology. The award recognizes Commvault's advancements in cyber resilience, data protection, and recovery solutions for hybrid cloud environments. Commvault's powerful platform, powered by Metallic AI, enables users to predict threats faster, recover cleanly, and respond to threats swiftly at a low total cost of ownership. The platform's scalability allows customers to secure and recover data across various workloads and infrastructures globally, meeting stringent security standards, including FedRAMP High In Process certification.
Commvault, a leading provider of cyber resilience and data protection solutions, debuted at the RSA Conference 2024 with innovative cleanroom experiences for cyber recovery. Attendees can explore cutting-edge solutions at Booths #5778 and #4308, engaging in live demos, augmented reality, gaming giveaways, and exclusive events. Commvault aims to educate CISOs and IT leaders on enhancing cyber resilience in today's digital landscape.
Commvault announced its fiscal 2024 fourth-quarter financial results, showcasing a 10% total revenue growth and 15% total ARR growth. The company's Commvault Cloud platform is gaining traction with customers amidst rising cyber threats. In the fourth quarter, total revenues reached $223.3 million, subscription revenue soared to $119.9 million, and income from operations hit $18.2 million. For the full fiscal year, total revenues amounted to $839.2 million, total ARR grew to $770 million, and subscription revenue surged to $429.2 million.
Commvault is revolutionizing cleanroom technology, introducing Commvault® Cloud Cleanroom™ Recovery. This groundbreaking offering democratizes cleanroom technology, allowing companies of all sizes to affordably recover data after a cyberattack, test recovery plans on-demand, and seamlessly recover to a cloud location. The solution simplifies recovery processes, enhances security, and offers intelligent features to orchestrate rapid recovery and automate threat scanning, making it a game-changer in the realm of cyber resilience.
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