Slide 1: Commvault Fiscal Q1'27 Earnings Presentation
Commvault Fiscal Q1’27 Earnings Presentation JULY 2026 © Commvault 2026
Slide 2: Forward-Looking Statements and GAAP to Non-GAAP Presentation
FORWARD-LOOKING GAAP TO NON-GAAP STATEMENTS PRESENTATION This presentation contains forward-looking statements within the meaning of the In addition to financial information prepared in accordance with U.S. GAAP, this Private Securities Litigation Reform Act of 1995 regarding future events or the pr
Slide 3: Q1'FY27 Key Financial Highlights
Q1’FY27 KEY FINANCIAL HIGHLIGHTS (Unaudited, $ in millions) $1,054m $424m $267m +22% YoY +38% YoY +16% YoY SUBSCRIPTION ARR SaaS ARR SUBSCRIPTION REVENUE $71m 22.8% Margin $51m +71% YoY Non-GAAP EBIT(1) FREE CASH FLOW(1) (1) See appendix for reconciliation of Non-GAAP metrics to the most directly co
Slide 4: Investment Highlights
INVESTMENT HIGHLIGHTS (Unaudited, FY’27) LARGE & GROWING A LEADER IN ENTERPRISE MARKET OPPORTUNITY PRODUCT INNOVATION PLATFORM $24B TAM (1) 1,600+ lifetime patents; Market Cyber resiliency across On- (2) +12% Projected CAGR leader by Gartner and Forrester Prem, Cloud and hybrid environments SUBSCRIP
Slide 5: Resilient.
resilient. Commvault helps some of the world's largest companies stay resilient, stay ready and recover at scale. © Commvault 2026 5
Slide 6: Resilience has always been a critical job
Resilience has always been a critical job. Data volume growing, Identities are exploding Compliance challenges AI unlocks innovation, distributed everywhere expanding unprecedented risk1 • Machine, human, agentic • IDC projects 100% growth in • Recovery must be proven for • 48% cite AI-automated att
Slide 7: The Commvault Platform makes you ready
The Commvault Platform makes you ready. Scale Simplicity Speed We aim to protect data and identities We help customers unify data We work to deliver the cleanest, across clouds apps and AI stacks. security, identity and recovery under a fastest, most complete recovery. single pane of glass. • Enterp
Slide 8: Identity Resilience and Cyber Resilience Architecture
IDENTITY CYBER RESILIENCE RESILIENCE AI-ENABLED NEXT-GEN ARCHITECTURE AI CLOUD-NATIVE SAAS DEVOPS DIRECTORY DATA EDGE DATA WORKLOADS APPS REPOS SERVICES CENTERS LOCATIONS CLOUD WORKLOADS ON-PREM DOCKING UNIFIED DATA PROTECTION FOR ENTERPRISE DATA SOURCES © Commvault 2026 8
Slide 9: Large & Growing Total Addressable Market
Large & Growing Total Addressable Market $38B $24B 12%+ CAGR Cloud Security Cloud Security Data Security Data Security Core Data Core Data Protection Protection 2025 2029 © Commvault 2026 9 Source: Commvault estimates
Slide 10: Land and Expand Motion Supported by Partner Ecosystem
Land and Expand Motion Supported by Partner Ecosystem Efficient Go-to Market Motion Supported by Extensive Partner Ecosystem Cloud Alliance GSI MSP Land Expand Renew Technology VAR Expansion & Renewal Drivers More Workloads Increased Cyber More Data Across Protected Resilience Coverage Existing Work
Slide 11: Q1'27 KPIs and Additional Detail
Q1’27 KPIs and Additional Detail © Commvault 2026 11
Slide 12: Q1'27 KPIs
Q1’27 Subscription Subscription ARR Revenue KPIs Free Non-GAAP Cash Flow EBIT Margin © Commvault 2026 12 12
Slide 13: Subscription ARR
Subscription ARR (Unaudited, Non-GAAP, $ in millions)(1) Includes Term-Based Licenses, associated Support and SaaS & Consumption Offerings WE BELIEVE SUBSCRIPTION ARR IS THE BEST MEASURE OF OUR GROWTH +22% YoY $1,054 $1,015 $966 $918 $867 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 (1) Refer to the “KEY DEFINITIO
Slide 14: SaaS ARR
SAAS ARR (Unaudited, Non-GAAP, $ in millions)(1) Included in Subscription ARR HIGH-GROWTH SAAS BUSINESS DRIVES SUBSCRIPTION ARR GROWTH +38% YoY $424 $400 $364 $336 $307 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 (1) Refer to the “KEY DEFINITIONS” slide in the appendix for the definition of certain key Non-GAAP t
Slide 15: Subscription Revenue
Subscription Revenue (Unaudited, $ in millions) Includes Term-Based Licenses and associated Support & SaaS Revenue HEALTHY GROWTH FROM OUR SUBSCRIPTION REVENUE BASE +16% YoY $267 $257 $262 $229 $222 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 © Commvault 2026 15
Slide 16: Non-GAAP EBIT and Margin %
Non-GAAP EBIT and Margin % (Unaudited, Non-GAAP, $ in millions)(1)(2) EXPENSE DISCIPLINE DROVE HEALTHY NON-GAAP EBIT MARGIN $80 0.29 $75 $71 $70 0.27 $66 $65 $61 0.25 $60 $58 0.23 $55 $51 23% $50 0.21 21% $45 21% 0.19 $40 20% 19% 0.17 $35 $30 0.15 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Non-GAAP EBIT $ Non-GA
Slide 17: Free Cash Flow and Share Repurchases
Free Cash Flow and Share Repurchases (Unaudited, Non-GAAP, $ in millions)(1)(2) HEALTHY FREE CASH FLOW AND DISCIPLINED CAPITAL ALLOCATION PHILOSOPHY FREE CASH FLOW SHARE REPURCHASES $51 $15 $10 $30 Q1'26 Q1'27 Q1'26 Q1'27 (1) Refer to the “KEY DEFINITIONS” slide in the appendix for the definition of
Slide 18: Subscription Net Dollar Retention Rate (NRR)
Subscription Net Dollar Retention Rate (NRR) Trailing 4Q Average (Unaudited)(1) CONSISTENT TRENDS IN CUSTOMER EXPANSION 114% 114% 114% 114% 114% Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 (1) Refer to the “KEY DEFINITIONS” slide in the appendix for the definition of certain key Non-GAAP terms. © Commvault 2026 1
Slide 19: Subscription Customer Growth
Subscription Customer Growth CUSTOMERS ARE EMBRACING OUR COMMVAULT CLOUD PLATFORM +18% YoY 15,200 14,700 14,100 13,400 12,900 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 (1) Subscription customer count includes unique, term-based and usage-based software and SaaS customers. SaaS customer count includes end users
Slide 20: Q1 FY'27 Financial Summary
Q1 FY’27 Financial Summary (Unaudited, $ in millions)(1)(2) Q1’27 GUIDANCE Q1’27 ACTUAL YoY CHANGE Subscription ARR n/a $1,054 +22% $263 - $265 Subscription Revenue $267 +16% (+15% YoY at midpoint) Non-GAAP EBIT Margin ~19% 22.8% +210 bps Free Cash Flow (FCF) n/a $51 +71% Share Repurchases n/a $10 n
Slide 21: FY'27 KPIs & Guidance
FY’27 KPIs & Guidance © Commvault 2026 21
Slide 22: FY'27 KPI Reporting Schedule
FY’27 KPI REPORTING SCHEDULE (1)(2) FY’27 KPIs QUARTERLY ANNUAL Supplemental Guidance QUARTERLY ANNUAL Subscription ARR Total Revenue Free Cash Flow Diluted Shares Out. Subscription Revenue Non-GAAP EBIT Margin (1) Refer to the “KEY DEFINITIONS” slide in the appendix for the definition of certain ke
Slide 23: Q2 and FY'27 Guidance
Q2 AND FY’27 GUIDANCE (Unaudited, $ in millions)(1)(2) FY’27 GUIDANCE FY’27 GUIDANCE Q2’27 GUIDANCE (as of July 28, 2026) (as of April 28, 2026) $1,200 - $1,210 $1,200 - $1,210 Subscription ARR (+18.5% YoY at midpoint) (+18.5% YoY at midpoint) $264 - $268 $1,119 - $ 1,129 $1,115 - $ 1,125 Subscripti
Slide 24: Appendix
Appendix © Commvault 2026 24
Slide 25: Key Definitions
KEY DEFINITIONS ITEM DEFINITION Subscription ARR represents the annualized value of all active contracts as of the end of a reporting period attributable to term-based licenses, maintenance and support services associated with term license arrangements, SaaS subscriptions, and consumption-based arra
Slide 26: GAAP to Non-GAAP Reconciliations
GAAP TO NON-GAAP RECONCILIATIONS (Unaudited, $ in thousands)(1) Q1’26 Q2’26 Q3’26 Q4’26 Q1’27 Non-GAAP financial measures and reconciliation: GAAP income from operations $25,091 $12,491 $19,770 $16,638 $25,719 Noncash stock-based compensation 30,105 31,813 27,721 29,247 34,725 FICA and payroll tax e
Slide 27: Thank You
Thank You © Commvault 2026