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Commvault Announces Fiscal 2025 First Quarter Financial Results
TINTON FALLS, N.J., July 30, 2024 /PRNewswire/ -- Commvault [Nasdaq: CVLT] today announced its financial results for the fiscal first quarter ended June 30,
About this update from Commvault Systems, Inc.
[{"type":"text","content":"TINTON FALLS, N.J., July 30, 2024 /PRNewswire/ -- Commvault [Nasdaq: CVLT] today announced its financial results for the fiscal first quarter ended June 30, 2024. \n\n \n \n \n \n \n \n\n \n\"The need for resilience is paramount and we are leading the charge,\" said Sanjay Mirchandani, Commvault's President and CEO. \"Our ability to empower customers globally, to regularly test their readiness and quickly recover their data and applications is not only a differentiator, but enabled Commvault to start the fiscal year strong, generating 13% total revenue growth and 17% annualized recurring revenue growth in fiscal Q1.\"\nNotes are contained at the end of this Press Release. \nFiscal 2025 First Quarter Highlights -\nTotal revenues were $224.7 million, up 13% year over yearTotal annualized recurring revenue (\"ARR\")1 grew to $803 million, up 17% year over yearSubscription revenue was $124.1 million, up 28% year over yearSubscription ARR1 grew to $636 million, up 27% year over yearIncome from operations (EBIT) was $18.4 million, an operating margin of 8.2%Non-GAAP EBIT2 was $48.3 million, an operating margin of 21.5%Operating cash flow was $44.7 million, with free cash flow2 of $43.8 millionFirst quarter share repurchases were $51.4 million, or approximately 471,000 shares of common stockFinancial Outlook for Second Quarter and Full Year Fiscal 20253 -\nWe are providing the following guidance for the second quarter of fiscal year 2025:\nTotal revenues are expected to be between $218 million and $222 millionSubscription revenue is expected to be between $120 million and $124 millionNon-GAAP operating margin2 is expected to be between 19% and 20%We are providing the following updated guidance for the full fiscal year 2025:\nTotal revenues are expected to be between $915 million and $925 millionTotal ARR1 is expected to grow 15% year over yearSubscription revenue is expected to be between $522 million and $527 millionSubscription ARR1 is expected to grow between 23% and 25% year over yearNon-GAAP operating margin2 is expected to be between 20% and 21%Free cash flow2 is expected to be at least $200 millionThe above statements are based on the incorporation of actual first quarter results and current targets. These statements are forward looking and made pursuant to the safe harbor provisions discussed in detail below. We do not undertak...