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Commault Systems, Inc. - CVLT STOCK NEWS

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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.

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Commvault (CVLT) reported strong financial results for the fiscal third quarter, with double-digit revenue and ARR growth. The company also introduced the new Commvault Cloud platform to address the increasing cyber threats, positioning itself for accelerated growth in fiscal year 2025. Total revenues were $216.8 million, up 11% year over year, with subscription revenue at $114.2 million, up 31% year over year. The company also provided guidance for the fourth quarter and full year fiscal 2024, expecting total revenues to be between $826 million and $830 million, with a 15% year over year growth in total ARR and a 25% year over year growth in subscription ARR.
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Commvault announces the formation of the Cyber Resilience Council, chaired by Melissa Hathaway, to advise and accelerate the development of advanced cyber resilience solutions. The council includes cybersecurity experts from various industries and aims to provide guidance on emerging security trends and cyber threats, as well as shaping product development and business strategies. The company also introduced Commvault Cloud, powered by Metallic AI, a cyber resilience platform for hybrid enterprises.
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Commvault's new report highlights the increasing collaboration between ITOps and security teams to combat cyber attacks. The report shows that 99% of respondents indicated a growing connection between ITOps and security, with 64% stating shared security goals and 70% having joint processes in place. However, only 48% have established joint processes to mitigate or recover from an incident.
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Commvault (NASDAQ: CVLT) will webcast a discussion of its third quarter fiscal year 2024 earnings results on January 30, 2024. Investors can access the live webcast at http://ir.commvault.com or by dialing (800) 715-9871 or (646) 307-1963. A replay of the webcast will also be available at the same link.
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Commvault (Ticker: CVLT) Chairman Nicholas Adamo was recognized by the NACD Directorship 100 for his influential leadership and strategic counsel, contributing to the company's accelerated growth, innovation, and industry disruption. The 2023 NACD Directorship 100 Awards Gala in New York City honored Adamo and other leading corporate directors and governance advocates from various industries.
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Commvault (CMVT) Expands APAC Leadership Team with Key Senior Appointments
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Commvault (NASDAQ: CVLT) appoints Anthony Anzevino as Senior Vice President for its Americas Field Organization. Anzevino brings extensive experience in global sales and operations, customer success, and renewals. His focus on relationships, innovation, and customer-centric approach has resulted in high customer retention rates. He aims to accelerate the adoption of Commvault's cyber resilience platform to help customers predict threats faster and make clean recoveries at the lowest Total Cost of Ownership (TCO).
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Commvault (CVLT) to Showcase Commvault Cloud, Powered by Metallic AI, at AWS re:Invent 2023
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Commvault (CVLT) Selected for Microsoft Security Copilot Partner Private Preview, Leveraging AI for Cyber Resilience and Data Protection Solutions. Commvault's participation in the Microsoft Security Copilot Partner Private Preview aligns with its focus on delivering exceptional data intelligence to customers and partners via its recently announced cyber resilience platform, Commvault Cloud, powered by Metallic AI. The partnership aims to empower organizations to defend at machine speed and keep data safe using AI-powered security product Security Copilot.
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Commvault (CVLT) Launches Commvault Cloud, Powered by Metallic AI, Offering Advanced Cyber Resilience Capabilities and AI Integration with Microsoft Azure OpenAI Service
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FAQ

What is the current stock price of Commault Systems (CVLT)?

The current stock price of Commault Systems (CVLT) is $168.27 as of November 15, 2024.

What is the market cap of Commault Systems (CVLT)?

The market cap of Commault Systems (CVLT) is approximately 7.3B.

What does Commvault Systems, Inc. do?

Commvault Systems provides data protection and information management solutions, helping organizations secure, protect, and recover data across various workloads and infrastructures.

What are some of Commvault's key products?

Commvault's key products include Commvault Complete Backup and Recovery, HyperScale, Hedvig, and Metallic, which offer comprehensive data protection and management capabilities.

Where is Commvault headquartered?

Commvault is headquartered in Tinton Falls, New Jersey, USA.

Who are the new leaders in Commvault's APAC region?

Michel Borst and Joanne Dean have been appointed as Area Vice Presidents in the APAC region to enhance Commvault's cyber resilience capabilities and strengthen its partner ecosystem.

What is the Commvault Cyber Resilience Council?

The Commvault Cyber Resilience Council, chaired by Melissa Hathaway, focuses on addressing emerging security trends and threats, shaping product development, and guiding business strategies.

How has Commvault performed financially recently?

Commvault has demonstrated strong financial performance with significant revenue and annualized recurring revenue (ARR) growth in recent quarters.

What is the Commvault Cloud platform?

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.

How can I access Commvault's latest updates and financial results?

For the latest updates and financial results, visit Commvault's investor relations page at http://ir.commvault.com.

What is Commvault's approach to cyber resilience?

Commvault focuses on providing comprehensive data protection, security, and rapid recovery solutions to help organizations achieve and maintain cyber resilience.

How does Commvault support different types of organizations?

Commvault serves large enterprises, small- and midsize businesses, and government agencies with tailored data protection and information management solutions through its salesforce and reseller partners.

Commault Systems, Inc.

Nasdaq:CVLT

CVLT Rankings

CVLT Stock Data

7.34B
43.77M
0.75%
98.23%
1.85%
Software - Application
Services-prepackaged Software
Link
United States of America
TINTON FALLS