Slide 1: Commvault Fiscal Q2'25 Earnings Results
Commvault Fiscal Q2’25 Earnings Results OCTOBER 2024 © Commvault 2024
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements regarding future events or the expected financial performance of our company, including statements about our outlook for future periods and related guidance. Commvault does not provide forward-looking guidance on a GAAP
Slide 3: GAAP to Non-GAAP Presentation
GAAP to Non-GAAP Presentation In addition to financial information prepared in accordance with U.S. GAAP, this presentation also contains adjusted financial measures that we believe provide investors and management with supplemental information relating to operating performance and trends that facil
Slide 4: IT and security leaders grappling with multiple issues
IT and security Leaders grappling with 1. Having to work across multiple clouds multiple issues. 2. Takes too long to recover from a cyberattack 3. Facing major compliance challenges and new regulations © Commvault 2024 4
Slide 5: Current tools are inadequate
Current tools are inadequate BCG reports that over 70% of all new data will be stored in the Cloud1 COMPETITORS PROTECT …CREATING MORE SILOS …INCREASING RECOVERY DATA, NOT CLOUDS… AND COMPLEXITY… TIME AND COSTS. 1 https://www.bcg.com/publications/2023/new-data-architectures-can-help-manage-data-cost
Slide 6: It's time to transform cyber resilience
It’s time to transform cyber resilience for the cloud-first world. Siloed tools One unified platform for cloud-first resilience Data backups Securing cloud apps + AI stacks, end-to-end Taken by surprise Total readiness with on-demand cloud testing Recovering data Rebuilding clouds in near-real-time
Slide 7: Continuous Business
We are positioned to lead the cloud-first future. Business continuity is no longer enough. It’s time for Continuous Business. Continuous Security Continuous Rebalance Continuous Readiness Continuous Recovery End-to-end data security Seamless portability Dependable recovery plans, Industry-first rebu
Slide 8: Quickly, cleanly, cost effectively recover and rebuild your apps
Quickly Cleanly Cost effectively recover and rebuild your apps © Commvault 2024 8
Slide 9: Next Gen Cloud-First Innovations & Partnerships
Next Gen Cloud-First Innovations & Partnerships Commvault Commvault extends Commvault continues Commvault delivers accelerates cloud- cyber resilience to to broaden multi-cloud another industry first: native resilience on more clouds, with support bringing even enabling the rewind of AWS with acquis
Slide 10: Commvault Investment Thesis
Commvault Investment Thesis +78% 5+ E B CLOUD DATA PROTECTED2 +20% Cyber Resilience Modern Innovation Durable Spending Leader Growth 3,205 Breaches in 20231 | +78% YoY 1,000+ Active Patents | Gartner MQ Leader 13 Years Total ARR +20% YoY3 Running | Safeguard 5+ EB of Cloud Data | FedRAMP High Certif
Slide 11: Q2'25 Financial Summary
Q2’25 Financial Summary © Commvault 2024 11
Slide 12: Q2 FY'25 Financial Summary
Q2 FY’25 Financial Summary (unaudited, $ in M’s) Q2’25 GUIDANCE Q2’25 ACTUAL YoY Change Total Revenue $218 - $222 $233 +16% (+9.5% YoY at midpoint) Subscription Revenue $120 - $124 $134 +37% (+25% YoY at midpoint) Non-GAAP Gross Margin 81% - 82% 82.2% +20 bps Non-GAAP EBIT Margin 19% - 20% 20.5% (40
Slide 13: 1H FY'25 Financial Summary
1H FY’25 Financial Summary (unaudited, $ in M’s) 1H’24 ACTUAL 1H’25 ACTUAL YoY Change Total ARR $712 $853 +20% Subscription ARR $530 $687 +30% Total Revenue $399 $458 +15% Subscription Revenue $195 $258 +32% Non-GAAP Gross Margin 82.4% 82.6% +20 bps Non-GAAP EBIT Margin 21.4% 21.0% (40) bps Free Cas
Slide 14: Subscription Revenue
Subscription Revenue (unaudited, $ in M’s) Includes software portion of term-based licenses and SaaS revenue ACCELERATING GROWTH OF OUR SUBSCRIPTION REVENUE BASE $134 +37% YoY $124 $120 $114 $97 $98 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Refer to slide 29 for key definitions. © Commvault 2024 14
Slide 15: Total ARR
Total ARR ($ in M’s) ARR IS A GOOD INDICATOR OF THE GROWTH OF OUR RECURRING REVENUE STREAMS $853 +20% YoY $803 $770 $752 $711 $686 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Refer to slide 29 for key definitions. ARR is a non-GAAP measure and should be considered as a supplement to, and not as a substitute
Slide 16: Subscription ARR
Subscription ARR ($ in M’s) INCLUDES TERM-BASED SUBSCRIPTION LICENSES AND SAAS $687 +30% YoY $636 $597 $571 $530 $500 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Refer to slide 29 for key definitions. Subscription ARR is a non-GAAP measure and should be considered as a supplement to, and not as a substitute
Slide 17: SaaS ARR
SaaS ARR ($ in M’s) EXPLOSIVE SAAS BUSINESS DRIVES TOTAL ARR GROWTH $215 +64% YoY $188 $168 $152 $131 $113 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Refer to slide 29 for key definitions. SaaS ARR is a Non-GAAP measure and should be considered as a supplement to, and not as a substitute for, financial inf
Slide 18: SaaS Net Dollar Retention Rate (NRR)
SaaS Net Dollar Retention Rate (NRR) SAAS DRIVES MEANINGFUL CUSTOMER EXPANSION 130% 125% 127% 127% 123% 118% Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Refer to slide 29 for key definitions. SaaS NRR is a Non-GAAP measure and should be considered as a supplement to, and not as a substitute for, financial i
Slide 19: Subscription Customer Growth
Subscription Customer Growth CUSTOMERS ARE EMBRACING SUBSCRIPTION OFFERINGS WHICH NOW REPRESENT OVER 60% OF OUR BASE 10,500 9,900 9,300 8,800 8,300 7,800 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Subscription customer count includes unique, term-based and usage-based software and SaaS customers. © Commvau
Slide 20: Earnings & Cash Flow Metrics
Earnings & Cash Flow Metrics © Commvault
Slide 21: Non-GAAP EBIT and Margin %
Non-GAAP EBIT and Margin % (unaudited, $ in M’s) EXPENSE DISCIPLINE DRIVING CONSISTENT 20%+ NON-GAAP EBIT MARGIN EVEN AS SAAS SCALES $50.00 22% 21% Non-GAAP $48.00 22% EBIT20% Margin % $46.00 20% $44.00 22% 21% 15% $42.00 $40.00 $48 $48 10% $38.00 $47 Non-GAAP $45 EBIT $ $44 $36.00 $42 $34.00 5% $32
Slide 22: Consistent Capital Return
Consistent Capital Return (unaudited, $ in M’s) $110 Year-to-Date Share Repurchases $100 $90 • Repurchased $52M of stock in Q2’25 representing 97% of Free Cash Flow (FCF) $80 • Year-to-date repurchased $103M of stock $70 representing 106% of Free Cash Flow $103 $60 • $153M remaining on share repurch
Slide 23: Primary KPIs
Primary KPIs . Copyright © 2024 © Commvault Commvatit PAI Rights, 23 Reserved
Slide 24: KPIs
KPIs • Annual Recurring Revenue (ARR) • Subscription ARR • Total Revenue • Subscription Revenue • Non-GAAP EBIT Margin • Free Cash Flow © Commvault 2024 24
Slide 25: Q3 & Full Year FY'25 Guidance
O3 & Full Year FY’25 Guidance © Commvault
Slide 26: Q3 and FY'25 Guidance
Q3 and FY’25 Guidance (unaudited, $ in M’s) Q3’25 GUIDANCE FY’25 GUIDANCE PRIOR FY’25 GUIDANCE AS OF 10/29/24 AS OF 10/29/24 AS OF 7/30/24 Total ARR 18% YoY 15% YoY Subscription ARR 26% - 28% YoY 23% - 25% YoY Total Revenue $243 - $247 $952 - $957 $915 - $925 (+13% YoY at midpoint) (+14% YoY at midp
Slide 27: Our Aspiration for FY'26
Our Aspiration for FY’26 next 2 fiscal years $1B+ $330M+ ARR SaaS ARR 15%+ CAGR 40%+ CAGR ~90% Subscription 33% of Total ARR as % of Total ARR © Commvault 2024 27
Slide 28: Appendix
Appendix ; Copyright © 2024 © Commvault Commvault | All 28 Rights Reserved
Slide 29: Key Definitions
Key Definitions Item Definition Subscription Revenue Software portion of term-based licenses and software as-a-service offerings (SaaS). The software component of term-based licenses is typically recognized when the software is delivered or made available for download. For SaaS offerings, revenue is
Slide 30: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Q1’24 Q2’24 (unaudited, $ in thousands) Q3’24 Q4’24 Q1’25 Q2’25 Non-GAAP financial measures and reconciliation: GAAP income from operations $18,480 $17,634 $21,051 $18,190 $18,428 $14,968 Noncash stock-based compensation 23,724 23,615 24,602 21,093 22,396 26,223 FICA
Slide 31: Thank You
Thank You © Commvault 2024