Commvault Announces First Quarter Fiscal 2026 Financial Results
Exceeded Guidance Across All Top Line Metrics
Record Total Revenue of $282 million, up 26% year-over-year
Annualized Recurring Revenue (ARR)1 grew to $996 million, up 24% year-over- year
TINTON FALLS, N.J., July 29, 2025 /PRNewswire/ -- Commvault (NASDAQ:CVLT) today announced its financial results for the fiscal first quarter ended June 30, 2025.
"Commvault delivered a strong start to the fiscal year, fueled by customer growth, disciplined execution, and rising demand for our industry-leading cyber resilience platform," said Sanjay Mirchandani, President and CEO, Commvault. "With a best-in-class partner ecosystem and continuous innovation that we believe sets us apart, we are well-positioned to continue to take share in fiscal 2026 and beyond."
Notes are contained at the end of this Press Release
First Quarter Fiscal 2026 Highlights -
Total revenues were $282 million, up 26% year over year
Total ARR1 grew to $996 million, up 24% year over year, or 21% on a constant currency basis using March 31, 2025 spot rates
Subscription revenue was $182 million, up 46% year over year, inclusive of term-based license revenue of $109 million, up 36% year over year, and SaaS revenue of $72 million, up 66% year over year
Subscription ARR1 grew to $844 million, up 33% year over year, or 30% on a constant currency basis using March 31, 2025 spot rates
Income from operations (EBIT) was $25 million, an operating margin of 8.9%
Non-GAAP EBIT2 was $58 million, an operating margin of 20.7%
Operating cash flow was $32 million, with free cash flow2 of $30 million
Recent Business Highlights -
For the 14th time in a row, Commvault has been named a Leader in the Gartner® Magic Quadrant™ for Backup and Data Protection Platforms.
Commvault announced enhancements to its post quantum computing capabilities, designed to help customers protect their highly sensitive, long-term data from a new generation of cyber threats.
Commvault continues to drive value for our global customers through strategic partnerships that enhance incident response capabilities, cyber resilience, and more. In Q1, Commvault announced enhanced partnerships with CrowdStrike, Deloitte, HPE, and Kyndryl.
Commvault Cloud achieved GovRAMP Authorized status for its cyber resilience SaaS solutions at the state level, complementing its unique FedRAMP High authorization at the federal level.
Financial Outlook for Second Quarter and Full Year Fiscal 20263 -
We are providing the following guidance for the second quarter of fiscal year 2026, based on current macroeconomic conditions:
Total revenues are expected to be between $272 million and $274 million
Subscription revenue is expected to be between $174 million and $176 million
Non-GAAP gross margin2 is expected to be between 81% and 82%
Non-GAAP EBIT margin2 is expected to be approximately 20%
We are providing the following updated guidance for the full fiscal year 2026, based on current macroeconomic conditions:
Total revenues are expected to be between $1,161 million and $1,165 million
Total ARR1 is expected to grow 18% year over year
Subscription revenue is expected to be between $753 million and $757 million
Subscription ARR1 is expected to grow 24% year over year
Non-GAAP gross margin2 is expected to be between 81% and 82%
Non-GAAP EBIT margin2 is expected to be approximately 20.5%
Free cash flow2 is expected to be between $210 million and $215 million
The above statements are based on the incorporation of actual first quarter results, current targets and the acquisition of Satori Cyber, Ltd., which is expected to close in the second quarter of fiscal 2026. These statements are forward-looking and made pursuant to the safe harbor provisions discussed in detail below. We do not undertake any obligation to update these forward-looking statements. Actual results may differ materially from anticipated results.
Conference Call Information
Commvault will host a conference call today, July 29, 2025 at 8:30 a.m. Eastern Time (5:30 a.m. Pacific Time) to discuss quarterly results. The live webcast and call dial-in numbers can be accessed by registering under the "News & Events" section of Commvault's website at ir.commvault.com under the "Investor Events" heading. An archived webcast of this conference call will also be available following the call.
About Commvault
Commvault (NASDAQ:CVLT) is the gold standard in cyber resilience, helping more than 100,000 organizations keep data safe and businesses resilient and moving forward. Today, Commvault offers the only cyber resilience platform that combines the best data security and rapid recovery at enterprise scale across any workload, anywhere—at the lowest TCO.
Safe Harbor Statement
This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions, outcome of litigation and others. For a discussion of these and other risks and uncertainties affecting Commvault's business, see "Item 1A. Risk Factors" in our annual report on Form 10-K and "Item 1A. Risk Factors" in our most recent quarterly report on Form 10-Q. Statements regarding Commvault's beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements.
Overview($ in thousands)
Q1'25
Q2'25
Q3'25
Q4'25
Q1'26
Revenue
Y/YGrowth
Revenue
Y/YGrowth
Revenue
Y/YGrowth
Revenue
Y/YGrowth
Revenue
Y/YGrowth
Subscription:
Term-based license
$ 80,405
13 %
$ 84,427
22 %
$ 97,625
21 %
$ 107,954
33 %
$ 109,282
36 %
SaaS
43,675
69 %
49,611
75 %
60,696
82 %
65,274
69 %
72,445
66 %
Total subscription
124,080
28 %
134,038
37 %
158,321
39 %
173,228
45 %
181,727
46 %
Perpetual license
13,736
4 %
10,522
(27) %
16,423
10 %
14,962
(2) %
7,335
(47) %
Customer support
76,288
(1) %
77,688
1 %
77,078
— %
76,509
(1) %
79,021
4 %
Other services
10,568
(2) %
11,030
(7) %
10,808
(1) %
10,340
(8) %
13,895
31 %
Total revenues
$ 224,672
13 %
$ 233,278
16 %
$ 262,630
21 %
$ 275,039
23 %
$ 281,978
26 %
Constant Currency - Revenue($ in thousands)
The constant currency impact is calculated using the average foreign exchange rates from the prior year period and applying these rates to foreign-denominated revenues in the current corresponding period. Commvault analyzes revenue growth on a constant currency basis in order to provide a comparable framework for assessing how the business performed excluding the effect of foreign currency fluctuations. The non-GAAP financial measures presented in this press release should not be considered as a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP.
Q1'25 Revenue asReported(GAAP)
Q1'26 Revenue asReported(GAAP)
ConstantCurrencyImpact
% Change Y/Y(GAAP)
% Change Y/YConstantCurrency
Subscription:
Term-based license
$ 80,405
$ 109,282
$ (2,157)
36 %
33 %
SaaS
43,675
72,445
(957)
66 %
64 %
Total subscription
124,080
181,727
(3,114)
46 %
44 %
Perpetual license
13,736
7,335
(193)
(47) %
(48) %
Customer support
76,288
79,021
(1,412)
4 %
2 %
Other services
10,568
13,895
(271)
31 %
29 %
Total
$ 224,672
$ 281,978
$ (4,990)
26 %
23 %
Disaggregation of Revenues($ in thousands)
Our Americas region includes the United States, Canada, and Latin America. Our International region primarily includes Europe, Middle East, Africa, Australia, India, Southeast Asia, and China.
Q1'25
Q2'25
Q3'25
Q4'25
Q1'26
Revenue
Y/YGrowth
Revenue
Y/YGrowth
Revenue
Y/YGrowth
Revenue
Y/YGrowth
Revenue
Y/YGrowth
Americas
$ 138,725
14 %
$ 144,408
20 %
$ 155,435
24 %
$ 169,384
29 %
$ 170,928
23 %
International
85,947
13 %
88,870
10 %
107,195
17 %
105,655
15 %
111,050
29 %
Total revenues
$ 224,672
13 %
$ 233,278
16 %
$ 262,630
21 %
$ 275,039
23 %
$ 281,978
26 %
Total ARR, Subscription ARR and SaaS ARR1($ in thousands)
Q1'25
Q2'25
Q3'25
Q4'25
Q1'26
Total ARR1
$ 802,709
$ 853,265
$ 889,628
$ 930,051
$ 996,202
Subscription ...
