Commvault Announces First Quarter Fiscal 2027 Financial Results

Subscription revenue 1 climbs +16% year over year to a record $267 million Subscription annualized recurring revenue (ARR) 1, 2 reaches $1,054 million, up +22% year over year Free cash flow 3 increased +71% year over year to $51 million TINTON FALLS, N.J. , July 28, 2026 /PRNewswire/ -- Commvault (Nasdaq: CVLT ) today announced its financial results for the fiscal first quarter ended June 30, 2026. "Our results reflect what we're hearing from customers every day – they are embracing our AI-enabled platform to protect data, govern access, and make clean, trusted recoveries," said Sanjay Mirchandani, President and CEO, Commvault. "With strong growth and record profitability, Commvault is well positioned to continue taking share in an AI-first world." Notes are contained at the end of this press release First Quarter Fiscal 2027 Highlights - Subscription revenue 1 was $267 million, up 16% year over year, inclusive of: SaaS revenue crossed $100 million, up 39% year over year Subscription ARR 1,2 grew to $1,054 million, up 22% year over year Income from operations (EBIT) was $26 million, an operating margin of 8.2% Non-GAAP EBIT 3 was $71 million, an operating margin of 22.8% Operating cash flow was $52 million, with free cash flow 3 of $51 million, up 71% year over year Recent Business Highlights - Commvault and Microsoft announced a multi-year strategic partnership to offer Commvault's AI and cyber resilience solutions as a native ISV service on Microsoft Azure, underscoring the importance of AI and resilience for enterprises. Commvault was named a Leader in the Gartner® Magic Quadrant™ for Backup and Data Protection Platforms for the 15th consecutive year. Financial Outlook for Second Quarter and Full Year Fiscal 2027 4 - We are providing the following guidance for the second quarter of fiscal year 2027: Subscription revenue 1 is expected to be between $264 million and $268 million Non-GAAP EBIT margin 3 is expected to be approximately 20% We are providing the following updated guidance for the full fiscal year 2027: Subscription revenue 1 is expected to be between $1,119 million and $1,129 million Subscription ARR 1,2 is expected to be between $1,200 million and $1,210 million Non-GAAP EBIT margin 3 is expected to be approximately 21% Free cash flow 3 is expected to be between $250 million and $260 million Share repurchases are expected to be approximately 60% of free cash flow 3 Diluted shares outstanding are expected to be approximately 42 million The above guidance metrics contemplate current macroeconomic conditions. These statements are forward-looking and made pursuant to the safe harbor provisions discussed in detail below. We do not undertake any obligation to update these forward-looking statements. Actual results may differ materially from anticipated results. Conference Call Information Commvault will host a conference call today, July 28, 2026 at 8:30 a.m. Eastern Time (5:30 a.m. Pacific Time) to discuss quarterly results. The live webcast and call dial-in numbers can be accessed by registering under the "News & Events" section of Commvault's website at ir.commvault.com under the "Investor Events" heading. An archived webcast of this conference call will also be available following the call. About Commvault Commvault (Nasdaq: CVLT ) is a leader in unified resilience at enterprise scale. In a constantly evolving threat landscape, Commvault keeps customers ready by unifying data security, identity resilience, and cyber recovery, on one cloud-native, AI-enabled platform. Customers trust Commvault to conduct the fastest, most complete recoveries – not just their data, but their entire business. Purpose-built for the agentic enterprise, Commvault also enables organizations to safely embrace AI while protecting against AI-driven threats. Safe Harbor Statement This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as those related to our restructuring plans, 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 and others. For a discussion of these and other risks and uncertainties affecting Commvault's business, see "Item 1A. Risk Factors" in our annual report on Form 10-K and "Item 1A. Risk Factors" in our most recent quarterly report on Form 10-Q. Statements regarding Commvault's beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to