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.
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| 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?
Research analysts who have asked questions during COMMVAULT SYSTEMS earnings calls.
Aaron Rakers
Wells Fargo
6 questions for CVLT
Howard Ma
Guggenheim Securities, LLC
6 questions for CVLT
James Fish
Piper Sandler Companies
6 questions for CVLT
Rudy Kessinger
D.A. Davidson & Co.
6 questions for CVLT
Eric Heath
KeyBanc Capital Markets
5 questions for CVLT
Jason Ader
William Blair & Company
5 questions for CVLT
Paramveer Singh
Oppenheimer & Co. Inc.
2 questions for CVLT
Ittai Kidron
Oppenheimer & Company
1 question for CVLT
Junaid Siddiqui
Truist Securities
1 question for CVLT
Thomas Blakey
Cantor Fitzgerald
1 question for CVLT
Thomas Lehi
Cantor Fitzgerald
1 question for CVLT
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 (Arrow) | Distributor (non-exclusive) | All | Represents 35% of FY 2025 revenue ($348.46M of $995.6M ) and 29% of accounts receivable ($73.1M of $251.995M ). Also 36% of FY 2024 revenue (N/A in $ ), 37% of FY 2023 revenue (N/A in $ ), and 29% of accounts receivable as of March 31, 2024 (N/A in $ ). |
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.
- Commvault reported robust Q2 2026 financial results, with Total ARR reaching $1,043 million and Total Revenue of $276 million, marking an 18% year-over-year increase.
- The company's subscription-based business showed significant momentum, with Subscription ARR growing 30% year-over-year to $894 million and Subscription Revenue increasing 29% year-over-year to $173 million.
- Profitability remained strong, with a Non-GAAP Gross Margin of 80.5% and a Non-GAAP EBIT Margin of 18.6% for Q2 2026.
- Hyper-growth in the SaaS segment was evident, with SaaS ARR reaching $336 million, a 56% year-over-year increase, and a SaaS Net Dollar Retention Rate of 125%.
- For fiscal year 2026, Commvault updated its guidance, projecting Total Revenue between $1,161 million and $1,165 million and Free Cash Flow between $225 million and $230 million.
- Commvault achieved $1 billion in total Annual Recurring Revenue (ARR) in Q2 2026, two quarters ahead of its March 2026 target, with total ARR growing 22% (21% constant currency) to $1.04 billion.
- Subscription ARR increased 30% to $894 million, driven by SaaS ARR growth of 56% to $336 million, also two quarters earlier than projected.
- Total revenue for Q2 2026 grew 18% to $276 million, and the company added a record $47 million in net new ARR (constant currency).
- For Q2 2026, non-GAAP EBIT was $51 million (margin of 18.6%), and free cash flow grew 37% year-over-year to $74 million.
- Commvault updated its fiscal year 2026 guidance, expecting total ARR growth of 18% to 19% and total revenue of $1.161 billion to $1.165 billion. The company also completed the acquisition of Satori Cyber and repurchased $131 million of stock during the quarter.
- Commvault reported a strong Q2 2026, achieving $1.04 billion in total Annual Recurring Revenue (ARR), reaching the $1 billion milestone two quarters earlier than planned.
- Total revenue grew 18% to $276 million, with Subscription ARR increasing 30% to $894 million and SaaS ARR growing 56% to $336 million. The company also added a record $47 million in Net New ARR on a constant currency basis.
- For fiscal year 2026, Commvault raised its free cash flow outlook to $225 million-$230 million and increased constant currency total ARR growth expectations to 18%-19%.
- The company repurchased $131 million of stock during the quarter and ended with over $1 billion in cash. Strategic drivers include strong demand for its Cyber Resilience platform, continued cloud adoption, and innovation, exemplified by the acquisition of Satori Cyber.
- Commvault reported a strong Q2 fiscal year 2026, with total revenue growing 18% to $276 million and subscription ARR rising 30% to $894 million.
- The company achieved $1 billion in total ARR and $330 million in SaaS ARR two quarters earlier than its original March 2026 target, with SaaS ARR growing 56%.
- For the first half of fiscal year 2026, Commvault achieved a 42 on a rule of 40 basis.
- Commvault updated its fiscal year 2026 guidance, now expecting constant currency total ARR growth of 18% to 19% and subscription ARR growth of 24% to 25% year-over-year, both raised by 50 basis points at the midpoint.
- The company repurchased $131 million of stock during the quarter, including $118 million executed in conjunction with a $900 million private offering of 0% coupon convertible senior notes.
- Commvault reported total revenues of $276 million for the fiscal second quarter ended September 30, 2025, an increase of 18% year over year.
- Annualized recurring revenue (ARR) surpassed the $1 billion milestone, reaching $1,043 million, up 22% year over year.
- The company generated operating cash flow of $77 million and free cash flow of $74 million.
- Commvault completed its acquisition of Satori Cyber Ltd., expanding its cyber-resilience platform.
- For the full fiscal year 2026, total revenues are expected to be between $1,161 million and $1,165 million, and free cash flow is projected to be between $225 million and $230 million.
- Commvault (CVLT) reported total revenues of $276 million for the fiscal second quarter ended September 30, 2025, representing an 18% increase year over year.
- The company's Annualized Recurring Revenue (ARR) surpassed the $1 billion milestone, reaching $1,043 million, which is up 22% year over year and two quarters ahead of target.
- Commvault provided updated guidance for the full fiscal year 2026, projecting total revenues between $1,161 million and $1,165 million and free cash flow between $225 million and $230 million.
- During the quarter, Commvault completed the acquisition of Satori Cyber Ltd., repurchased approximately 737,000 shares of common stock for $131 million, and completed a $900 million convertible debt offering.
- Commvault announced its intent to acquire Satori Cyber Ltd, a data and AI security company.
- The acquisition aims to extend Commvault's foundational data and AI security capabilities to its comprehensive cyber resilience platform, helping enterprises with compliance, risk mitigation, and sensitive data access control, especially in the AI era.
- Satori Cyber will bring unique data and AI security capabilities to the Commvault Cloud platform, including cloud-native innovation for the modern data stack and AI era, data security for structured and AI training data, and AI-aware protection and recovery.
- The acquisition is expected to close in August 2025.
- Commvault outlined its leadership in cyber resiliency by leveraging a unified platform that covers over 40 workloads and integrates both on‑prem and cloud solutions, demonstrating its competitive differentiation from legacy players.
- The company highlighted strong growth in its SaaS platform, noting a shift toward subscription revenue with robust performance metrics including 31% subscription ARR growth and expectations to sustain mid‑low to mid‑teen top‑line growth.
- Strategic investments in go‑to‑market initiatives—including increased sales capacity, enhanced partner enablement, and improved brand awareness—were presented as key drivers for capturing market share and supporting long‑term growth.
- Record Q4 Performance: Total revenue reached $275M (up 23% YoY) with subscription revenue surging 45% YoY, marking a record-breaking quarter .
- Robust ARR Growth: Total ARR hit $930M in Q4 with SaaS ARR jumping 68% YoY, positioning the business ahead of its $1B ARR target .
- Fiscal 2025 Highlights: Annual revenue delivered $996M (up 19% YoY) with subscription revenue of $590M and subscription ARR constituting 84% of total ARR .
- Optimistic FY2026 Outlook: Full-year revenue is expected to be between $1.13B and $1.14B, with Q1 revenues forecast between $266M and $270M .
- Operational and Strategic Momentum: Added 700 new subscription customers worldwide (totaling over 12,000), maintained strong SaaS net dollar retention at 127%, and executed a $30M share repurchase in Q4 with the board expanding the share repurchase program to $250M .
- Commvault Cloud has achieved GovRAMP Authorized status at a High impact level, along with FedRAMP High and FIPS 140-3 validations, distinguishing it as the only cyber resilience vendor with this triple certification.
- The authorization supports state, local, and educational institutions (SLED) in meeting rigorous data protection and security standards, with immediate availability of the service.