Commvault Q3 2024 Earnings Report
Key Takeaways
Commvault announced strong Q3 2024 financial results, with total revenues up 11% year-over-year to $216.8 million and total ARR growing 17% year-over-year to $752 million. The company's new Commvault Cloud platform is expected to drive accelerated growth in fiscal year 2025.
Total revenues were $216.8 million, up 11% year over year.
Total ARR grew to $752 million, up 17% year over year.
Subscription revenue was $114.2 million, up 31% year over year.
Subscription ARR grew to $571 million, up 29% year over year.
Commvault
Commvault
Commvault Revenue by Geographic Location
Forward Guidance
Commvault provided guidance for the fourth quarter of fiscal year 2024, expecting total revenues between $210 million and $214 million and subscription revenue between $111 million and $115 million. For the full fiscal year 2024, total revenues are expected to be between $826 million and $830 million, with total ARR growing 15% year over year.
Positive Outlook
- Total revenues are expected to be between $210 million and $214 million for Q4 2024.
- Subscription revenue is expected to be between $111 million and $115 million for Q4 2024.
- Non-GAAP operating margin is expected to be between 20% to 21% for Q4 2024.
- Total revenues are expected to be between $826 million and $830 million for fiscal year 2024.
- Total ARR is expected to grow 15% year over year for fiscal year 2024.