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Commvault Systems, Inc. is a software company specializing in data protection and information management solutions. The company provides subscription-based software licenses, SaaS offerings, perpetual licenses, customer support services, and professional consulting services. Its products and services are designed to help businesses manage, protect, and optimize their data across various environments.
- Subscription - Offers term-based software licenses and SaaS solutions, focusing on scalable and flexible data management and protection services.
- Customer Support - Provides ongoing support for both subscription and perpetual license customers, ensuring optimal software performance and issue resolution.
- Perpetual License - Sells traditional software licenses in specific verticals and geographies, catering to customers preferring one-time purchases.
- Other Services - Delivers professional consulting and implementation services, helping businesses deploy and optimize their data management solutions.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Sanjay Mirchandani [May 9 ExecutiveBoard | President and Chief Executive Officer (CEO) | Board member at Itron, Inc. since 2023 | CEO of Commvault since February 2019 , previously served as CEO of Puppet, Inc. from September 2016 to January 2019 , and held leadership roles at VMware and EMC. | View Report → |
Gary Merrill [May 9 Executive | Chief Financial Officer (CFO) | Gary Merrill is the Chief Financial Officer (CFO) at Commvault Systems, Inc. since July 2022, having previously served as Chief of Business Operations, Vice President of Operations, and Chief Accounting Officer. He has been instrumental in driving the company’s financial strategy and operational efficiencies. | ||
Jennifer DiRico [August 12 Executive | Chief Financial Officer (CFO) | Jennifer DiRico has served as the Chief Financial Officer (CFO) at CVLT since August 12, 2024, and she previously held key executive roles at Toast, Inc. and Nuance Communications. | ||
Allison Pickens [June 25 Board | Independent Director | Founding General Partner of The New Normal Fund, LP ; Senior Advisor to Boston Consulting Group ; Board Director at dbt Labs, Inc. (2021–2024) | Allison Pickens has served as an Independent Director at CVLT since 2020. She also contributes to the company by serving on the Nominations and Governance Committee while leveraging extensive experience from her previous role as COO at Gainsight from 2014 to 2020. | |
Arlen Shenkman [June 25 Board | Director | President of Boomi, Inc.; Board Member at AspenTech | Arlen Shenkman has served as a director at Commvault Systems, Inc. since 2020 and chairs the Operating Committee. He is also the President of Boomi, Inc., further demonstrating his extensive financial management and transformation expertise. | |
Charles Moran [June 25 Board | Director | Director at Manhattan Associates, Inc. (since 2017); Director at Intapp Inc. (since 2019) | Charles 'Chuck' Moran is a director at Commvault Systems, Inc. since 2018, serving on both the Audit Committee and the Operating Committee. He brings extensive experience in corporate governance and financial oversight from his long career in technology. | |
Keith Geeslin [June 25 Board | Director | Partner at Francisco Partners since 2004 ; Director at Synaptics, Inc. since 1986 | Keith Geeslin has been serving as a Director at Commvault Systems, Inc. since 1996. He also contributes to the Operating Committee and the Talent Management and Compensation Committee at CVLT, leveraging his extensive experience from roles at Francisco Partners and Synaptics, Inc.. | |
Martha H. Bejar [June 25 Board | Director | Senior Partner at Dagrosa Capital LLC since 2021; Co-founder and CEO of Red Bison Advisory Group, LLC; Director at Lumen Technologies since 2016; Director at Quadient S.A. since 2019; Director at Sportsman’s Warehouse since 2019 | Martha H. Bejar is an independent director at Commvault Systems, Inc. since 2018 and serves as the Chair of the Nominations and Governance Committee. She brings extensive experience from roles including Senior Partner at Dagrosa Capital LLC since 2021 and Co-founder and CEO of Red Bison Advisory Group, LLC, as well as board positions at Lumen Technologies, Quadient S.A., and Sportsman’s Warehouse. | |
Nicholas Adamo [June 25 Board | Chairman of the Board | Founder and President of Making A Mark, Inc. | Chairman of the Board at CVLT since 2019, after joining as a director in 2018. He brings extensive IT leadership experience from his long careers at Cisco and IBM. | |
Shane Sanders [June 25 Board | Member of the Board of Directors | Director on the board of Danaher Corporation | Shane Sanders is an independent director at CVLT since 2022 and serves as Chair of the Audit Committee. Previously, he held senior leadership roles at Verizon Communications, including positions as Senior Vice President of Business Transformation, Corporate Finance, and Internal Audit & Chief Audit Executive. | |
Vivie “YY” Lee [June 25 Board | Director | Director at Synaptics, Inc. (since 2022); Director at Belden, Inc. (since 2023) | Vivie “YY” Lee has been a Director at CVLT since 2018 and serves as Chair of the Talent Management and Compensation Committee. Previously, she held executive roles including Senior Vice President and Chief Strategy Officer at Anaplan (2018–2021) and CEO at FirstRain (2015–2018). |
- In Q3 you added $38 million in organic net new ARR, yet guidance still targets $1 billion ARR by FY '26; how confident are you in sustaining or improving this momentum amid potential market fluctuations and FX headwinds?
- With investments such as the Calumo acquisition and increased sales commissions contributing to margin dilution, when do you expect operating leverage to improve and what specific cost-control measures are being implemented?
- Your term license renewals are maintaining an NRR of 105%-110%, but how do you plan to balance growth between term licenses and SaaS offerings while driving deeper cross-sell opportunities within your existing customer base?
- Could you provide more detail on the integration timelines and near-term financial impacts of recent acquisitions like Clio and Creonix, particularly regarding their contributions to ARR and margins?
- Facing competitive pressures and evolving regulations in key regions like Europe, what steps are you taking to defend and expand your market share, especially in advancing cloud-native and cyber resilience offerings?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
This competitor has one or more products that compete with a part of or the entire product suite of the company in the data protection software applications market. | |
Cohesity | This competitor has one or more products that compete with a part of or the entire product suite of the company in the data protection software applications market. |
Dell-EMC | This competitor has one or more products that compete with a part of or the entire product suite of the company in the data protection software applications market. |
Druva | This competitor has one or more products that compete with a part of or the entire product suite of the company in the data protection software applications market. |
This competitor has one or more products that compete with a part of or the entire product suite of the company in the data protection software applications market. | |
Rubrik | This competitor has one or more products that compete with a part of or the entire product suite of the company in the data protection software applications market. |
Veeam | This competitor has one or more products that compete with a part of or the entire product suite of the company in the data protection software applications market. |
Veritas | This competitor has one or more products that compete with a part of or the entire product suite of the company in the data protection software applications market. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Arrow Enterprise Computing Solutions, Inc. | Non-exclusive distribution agreement | All | 36% of FY2024 revenue ⇒ ~$302.1M , 37% of FY2023 revenue ⇒ ~$290.3M , 37% of FY2022 revenue ⇒ ~$284.8M , 29% of total AR ⇒ ~$64.6M (as of 03/31/2024). |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Clumio, Inc. | 2024 | Commvault acquired Clumio for approximately $47 million in a cash-funded deal to enhance its cyber resiliency offerings by leveraging Clumio’s AWS cloud data protection capabilities. The deal was completed on October 1, 2024, and is expected to immediately boost ARR, revenue, and free cash flow within the next three quarters. |
Appranix, Inc. | 2024 | Commvault acquired Appranix on April 15, 2024, for a total consideration of $26,272,000 (comprising cash, unregistered restricted stock units, and contingent consideration) to automate the rebuilding of cloud applications and strengthen cyber resiliency. The acquisition includes detailed purchase price allocation, with full technology integration expected by summer 2024. |
TrapX Security | 2022 | Commvault acquired TrapX Security in fiscal 2022 for $18,653,000 in cash to expand its security offerings through advanced cyber deception technology. The acquisition involved a detailed purchase price allocation, including significant goodwill and developed technology, thereby broadening Commvault’s SaaS security portfolio. |
Recent press releases and 8-K filings for CVLT.
- Refinancing Transaction: On April 15, 2025, the company refinanced its existing $100 million facility and established a new five-year senior secured revolving credit facility, increasing its total borrowing capacity to $300 million.
- Terms & Covenants: The facility provides flexible interest rate options (SOFR plus margin or a base rate plus margin) and includes financial maintenance covenants such as leverage and interest coverage ratios, which restrict additional indebtedness and key transactions.
- Key Lenders Involved: The credit agreement is executed with major lenders, including JPMorgan Chase Bank, N.A. as Administrative Agent, and was filed as an 8-K on April 15, 2025.
- Record-breaking Q3 performance: Total revenue reached $262.6M–$263M (up 21% YoY) , .
- Robust subscription performance: Subscription revenue surged 39% to $158.3M (reported range $158M–$169M), with ARR figures of $734M and constant currency ARR of $911M , , , .
- Guidance Update: Q4 total revenues expected between $260M and $264M (with Q4 subscription revenue forecast at $160–$164M) and FY '25 total revenue projected at $980M–$985M , , .
- Profitability maintained: Achieved a non-GAAP EBIT margin of 20.8% and a gross margin of 84% , .
- Share repurchase: Approximately 200,000 shares repurchased for $31.9M–$32M , .