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Dec 31, 2023
Commvault Q3 2024 Earnings Report
Commvault had one of its strongest quarters with double-digit ARR and revenue growth, and robust free cash flow generation.
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 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.com 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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income