CVLT
Commvault Systems, Inc.120.95
+1.11+0.93%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q3 '26
Explains ARR miss via SaaS mix
Q&A unpacked net new ARR landing at $39M short of mid-40s expectations, blaming heavy SaaS lands (70% of adds at lower ASPs) and longer term durations despite record term customer adds—their best ever. SaaS NDR dipped to 121% amid a 9,000+ base, new-logo lag, and early-adopter mix shifts, yet nearly 50% of enterprise SaaS users now take multiple products, up 8-9 points YoY. Cost optimization proved company-wide, not R&D-specific. No sales comp tweaks or discounting. Quarterly wiggles expected. Management stayed bullish on annual 22% ARR trajectory; investors eye SaaS expansion durability.
Key Stats
Market Cap
5.38BP/E (TTM)
68.33Basic EPS (TTM)
1.77Dividend Yield
0%Recent Filings
10-Q
Q3 FY2026 results
Commvault crushed Q3 FY2026 with revenues up 19% y/y to $313.8M, fueled by 30% subscription growth as term-based licenses rose 22% and SaaS leaped 44%; gross margin held steady at 81%. Operating income climbed 45% y/y to $19.8M while diluted EPS hit $0.40 (up 67%), reconciling cleanly to 44.6M shares. Cash swelled to $1.0B on $900M convertible notes due 2030 (net $880M), funding $187M buybacks and Satori acquisition closed Aug 2025 for $28.3M cash, adding $25.6M goodwill and $3.7M developed tech (5-year life). OCF hit $112M YTD, minus $7M capex. Restructuring stings.
8-K
Q3 revenue +19%, ARR +22%
Commvault crushed Q3 FY2026 with total revenue up 19% to $314M and ARR soaring 22% to $1,085M, fueled by 30% subscription growth to $206M. Subscription ARR hit $941M, yet free cash flow dipped to $2M on working capital timing. Growth accelerates. Q4 revenue guidance: $305M-$308M; full-year ARR up ~18%. Restructuring underway to sharpen costs.
8-K
CFO DiRico resigns end-2025
Commvault's CFO Jennifer DiRico resigns effective December 31, 2025, to pursue another opportunity, with no disagreements on accounting or operations. CEO Sanjay Mirchandani oversees interim Office of the CFO with VP Finance Kevin White and Chief Accounting Officer Danielle Abrahamsen during the search. No changes to prior outlook. Transition smooth, leadership intact.
10-Q
Q2 FY2026 results
Commvault's Q2 FY2026 revenues hit $276.2M, up 18% y/y, powered by 61% SaaS growth to $80.0M and 10% term-based license gains, while gross margin held at 80%. Operating income dipped to $12.5M from $15.0M y/y amid sales/marketing and R&D investments, but diluted EPS stayed steady at $0.33 on 45.2M shares. Cash soared to $1.1B after issuing $900M 0% convertible notes due 2030; free cash flow not disclosed in the 10-Q. Closed Satori acquisition in August 2025 for $28.3M cash, recognizing $25.1M goodwill and $3.7M developed technology (5-year life). Liquidity looks rock-solid. Partner concentration persists.
8-K
Commvault ARR tops $1B
Commvault reported Q2 fiscal 2026 revenues of $276 million, up 18% year over year, with total ARR hitting $1.043 billion—22% growth and two quarters ahead of target. Subscription revenue surged 29% to $173 million, driven by 61% SaaS gains, while free cash flow reached $74 million. The Satori Cyber acquisition bolsters cyber-resiliency amid AI risks. ARR milestone accelerates momentum. Guidance projects full-year revenues of $1.161-1.165 billion.
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