Commvault Q2 2021 Earnings Report
Key Takeaways
Commvault announced its financial results for the second quarter ended September 30, 2020. Total revenues for the second quarter of fiscal 2021 were $171.1 million, an increase of 2% year over year. Annualized recurring revenue (ARR) was $483.5 million, up 9% from the previous year. On a GAAP basis, loss from operations was $42.0 million, while non-GAAP EBIT was $28.9 million.
Total revenues increased by 2% year over year to $171.1 million.
Annualized recurring revenue (ARR) grew by 9% year over year, reaching $483.5 million.
Software and products revenue increased by 5% year over year to $72.3 million.
GAAP loss from operations was $42.0 million, impacted by non-cash impairment charges, while non-GAAP EBIT was $28.9 million.
Commvault
Commvault
Commvault Revenue by Geographic Location
Forward Guidance
The company is on track to deliver continued growth and operating margin expansion.
Positive Outlook
- The Commvault portfolio has never been stronger.
- New product announcements including Commvault HyperScale X.
- New product announcements including Commvault Disaster Recovery.
- New product announcements including Metallic Cloud Storage Service.
- Addressing critical needs like cloud transformation and ransomware.
Challenges Ahead
- 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.
- Other risks and uncertainties affecting Commvault's business.