Overview

* Commvault ( CVLT ) fiscal Q2 revenue rises 18% yr/yr but misses analyst expectations

* Adjusted EPS for fiscal Q2 misses analyst expectations

* Company surpasses $1 bln ARR milestone ahead of schedule

Outlook

* Commvault ( CVLT ) expects Q3 revenue between $298 mln and $300 mln

* Company forecasts full-year revenue between $1,161 mln and $1,165 mln

* Commvault ( CVLT ) anticipates full-year free cash flow between $225 mln and $230 mln

Result Drivers

* ARR GROWTH - Total ARR grew 22% yr/yr, surpassing $1 bln milestone ahead of schedule, driven by strong SaaS performance

* SAAS REVENUE - SaaS revenue increased 61% yr/yr, contributing significantly to subscription revenue growth

* PRODUCT EXPANSION - Acquisition of Satori Cyber Ltd. and new product launches expanded cyber resilience platform

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Miss $276 mln $276.89

Revenue mln (11

Analysts

)

Q2 Miss $0.91 $0.94

Adjusted (11

EPS Analysts

)

Q2 $51 mln

Adjusted

EBIT

Q2 ARR $1 bln

Q2 EBIT $12 mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the software peer group is "buy"

* Wall Street's median 12-month price target for Commvault Systems Inc ( CVLT ) is $216.00, about 19.4% above its October 27 closing price of $174.15

* The stock recently traded at 38 times the next 12-month earnings vs. a P/E of 40 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)