CORRECTED-Cybersecurity firm Commvault's Q1 revenue beats estimates

Overview

• Commvault fiscal Q1 revenue rises 26% yr/yr, beating analyst expectations

• Adjusted EPS for fiscal Q1 beats analyst estimates, per LSEG data

• Annualized recurring revenue grew 24% yr/yr to $996 mln

Outlook

• Commvault sees Q2 revenue between $272 mln and $274 mln

• Company expects Q2 subscription revenue between $174 mln and $176 mln

• Commvault forecasts FY 2026 revenue between $1,161 mln and $1,165 mln

• Company anticipates FY 2026 subscription ARR to grow 24% year-over-year

Result Drivers

• CUSTOMER GROWTH - Commvault attributes its strong fiscal Q1 performance to increased customer growth and disciplined execution, per CEO Sanjay Mirchandani

• CYBER RESILIENCE DEMAND - Rising demand for Commvault's cyber resilience platform contributed to the revenue increase, according to CEO Sanjay Mirchandani

• SUBSCRIPTION REVENUE BOOST - Subscription revenue rose 46% yr/yr, driven by a 66% increase in SaaS revenue

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 3 "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 $190.06, about 14% above its July 28 closing price of $163.43

• The stock recently traded at 38 times the next 12-month earnings vs. a P/E of 39 three months ago

Press Release: ID:nPn86QnPXa