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Sep 30
Commvault Q2 2026 Earnings Report
Commvault reported strong Q2 FY2026 results with 18% revenue growth and achieved a $1B total ARR milestone ahead of schedule.
Key Takeaways
Commvault delivered a robust second quarter driven by accelerated ARR and SaaS growth. Total revenue rose 18% year over year to $276.2 million, and the company achieved its $1 billion ARR target two quarters early. Operating income reached $12.5 million, and non-GAAP operating margin improved to 18.6%.
Total revenue grew 18% YoY to $276.2 million.
Total ARR surpassed $1 billion, up 22% YoY.
Non-GAAP operating margin reached 18.6%.
Free cash flow was $74 million, supported by strong operational efficiency.
Commvault
Commvault
Commvault Revenue by Segment
Commvault Revenue by Geographic Location
Revenue by Segment
Subscription Revenue
CapyFin.comPerpetual License Revenue
CapyFin.comCustomer Support Revenue
CapyFin.comOther Services Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Commvault expects continued momentum into Q3 FY26, projecting total revenue between $298M and $300M with strong subscription growth and sustained margins.
Positive Outlook
- Q3 revenue expected between $298M and $300M.
- Subscription revenue guidance between $195M and $197M.
- Non-GAAP EBIT margin projected between 18% and 19%.
- Full-year ARR expected to grow 18–19% YoY.
- Free cash flow forecast between $225M and $230M for FY26.
Challenges Ahead
- Macroeconomic conditions may affect IT spending.
- Currency fluctuations could impact constant-currency growth rates.
- Integration of Satori Cyber may create short-term expenses.
- Operating margin pressure from rising R&D and sales costs.
- Continued market competition in data protection and cyber resilience.
Revenue & Expenses
Visualization of income flow from segment revenue to net income