Commvault Systems Stock Earnings Reports

Commvault reported a strong Q3 FY25 with total revenue up 21% to $263M and subscription revenue up 39% to $158M. Total ARR grew ~18% to $890M (21% constant currency), with SaaS ARR up 71% to $259M (75% constant currency). The business achieved non-GAAP EBIT margin of 20.8% and $30M free cash flow in the quarter, ended with $244M cash and no debt (after the Clumio acquisition). Management highlighted three growth drivers: (1) a large and accelerating cyber resilience market, (2) differentiated cloud-native recovery and cyber-resilience capabilities (examples: Cloud Rewind / Appranix, Clean Room Recovery, Active Directory full automated recovery, Clumio Backtrack), and (3) an improved go-to-market and partner ecosystem (notable traction with AWS, Azure, Google Workspace, Dell, HPE, Hitachi, Pure, Databricks). Execution metrics include record transaction volumes, improved sales productivity, >1,000 new subscription customers (including ~200 from Clumio), SaaS NRR of 127%, and continued land-and-expand activity including multiple seven-figure deals. Management raised FY25 guidance: total ARR growth now expected 19–20% y/y; subscription ARR +28–30%; full year revenue ~$980–985M; gross margins ~81–82%; non-GAAP EBIT margin 20–21%; FCF $170–200M. Clumio contributed $24M ARR; Appranix/Cloud Rewind ARR has already more than doubled since acquisition. FX headwinds are noted as a drag on near-term results.