B

Achieved all fourth quarter and fiscal 2026 guided metrics

Record $132 million free cash flow in fourth quarter

Total reported ARR grew +21% year over year, with $44 million in constant currency net new ARR

Tinton Falls, N.J., April 28, 2026 /PRNewswire/ — Commvault [Nasdaq: CVLT] today announced its financial results for the fourth quarter and fiscal year ended March 31, 2026.

“Our results reinforce that we are delivering durable growth fueled through industry-leading innovation and our rapidly expanding SaaS business,” said Sanjay Mirchandani, President and CEO, Commvault. “In fiscal 2027, the rise of AI will create more data and more risk – which in turn increases demand for our platform’s trusted protection, governance, and recovery capabilities. We believe we are well positioned to deliver profitable growth through new and expanding customer relationships.”

Notes are contained at the end of this press release

Fourth Quarter Fiscal 2026 Highlights –

• Total revenues were $312 million, up 13% year over year
• Subscription revenue was $208 million, up 20% year over year, inclusive of term-based license revenue of $114 million, up 6% year over year, and SaaS revenue of $93 million, up 43% year over year
• Income from operations (EBIT) was $17 million, an operating margin of 5.3%
• Non-GAAP EBIT² was $66 million, an operating margin of 21.3%
• Generated $132 million in operating cash flow and free cash flow²

Full Year Fiscal 2026 Highlights –

• Total revenues were $1,184 million, up 19% year over year
• Total ARR¹ grew to $1,122 million, up 21% year over year, or 18% on a constant currency basis using the March 31, 2025 spot rates
• Subscription revenue was $768 million, up 30% year over year, inclusive of term-based license revenue of $435 million, up 18% year over year, and SaaS revenue of $333 million, up 52% year over year
• Subscription ARR¹ grew to $989 million, up 27% year over year, or 24% on a constant currency basis using the March 31, 2025 spot rates
• Income from operations (EBIT) was $74 million, an operating margin of 6.3%
• Non-GAAP EBIT² was $238 million, an operating margin of 20.1%
• Operating cash flow was $245 million, with free cash flow² of $237 million

Recent Business Highlights –

• Commvault announced an integration with Microsoft Security to better connect threat detection with trusted recovery, and expanded its integration with CrowdStrike, to deliver bi-directional visibility with CrowdStrike Falcon Next-Gen SIEM.
• Commvault and NetApp announced a strategic alliance to deliver a powerful, integrated solution for enterprise data protection and cyber resilience.
• Commvault extended identity resilience to Okta and joined forces with CloudSEK to address a growing threat: exposed credentials on the dark web.
• Commvault expanded enterprise resilience to structured and AI data, enabled via its recent acquisition of data and AI security company Satori.
• Commvault announced a partnership with STACKIT that is designed to support European customers’ sovereign cloud requirements while delivering cyber resilience to enterprise organizations.

Financial Outlook for First Quarter and Full Year Fiscal 2027³ –

We are providing the following guidance for the first quarter of fiscal year 2027, based on the recast definitions set forth at the end of this earnings press release:

• Subscription revenue is expected to be between $263 million and $265 million
• Non-GAAP EBIT margin²  is expected to be approximately 19%

We are providing the following guidance for the full fiscal year 2027, based on the recast definitions set forth at the end of this earnings press release:

• Subscription revenue is expected to be between $1,115 million and $1,125 million
• Subscription ARR¹ is expected to be between $1,200 million and $1,210 million
• Total revenues are expected to be between $1,300 million and $1,310 million
• Non-GAAP EBIT margin² is expected to be approximately 20.5%
• Free cash flow² is expected to be between $250 million and $260 million

   

The above guidance metrics contemplate current exchange rates and current macroeconomic conditions. In addition, guidance for Subscription Revenue and Subscription ARR reflects the recast definitions set forth in the Recast Section at the end of this earnings press release.

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, April 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 update its forward-looking statements.

Overview

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Constant Currency – Revenue

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The constant currency impact is calculated using the average foreign exchange rates from the prior year period and applying these rates to foreign-denominated revenues in the current corresponding period. Commvault analyzes revenue growth on a constant currency basis in order to provide a comparable framework for assessing how the business performed excluding the effect of foreign currency fluctuations. The non-GAAP financial measures presented in this press release should not be considered as a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP.

Disaggregation of Revenues

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Our Americas region includes the United States, Canada, and Latin America. Our International region primarily includes Europe, Middle East, Africa, Australia, India, Southeast Asia, and China.

Total ARR, Subscription ARR and SaaS ARR¹

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