Overview
Commvault 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 expects Q3 revenue between $298 mln and $300 mln
Company forecasts full-year revenue between $1,161 mln and $1,165 mln
Commvault 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/Miss | Actual | Consensus Estimate |
Q2 Revenue | Miss | $276 mln | $276.89 mln (11 Analysts) |
Q2 Adjusted EPS | Miss | $0.91 | $0.94 (11 Analysts) |
Q2 Adjusted EBIT | $51 mln | ||
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 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: ID:nPn2tcvNVa
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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.)