Commvault appoints Ha Hoang as new Chief Information Officer

TINTON FALLS, N.J. - Commvault (NASDAQ: CVLT), a global provider of cyber resilience and data protection solutions with a market capitalization of $7.2 billion and impressive 67.7% stock return over the past year, has announced the appointment of Ha Hoang as its new Chief Information Officer. According to InvestingPro data, the company maintains strong financial health with remarkable gross profit margins of 82%. Hoang brings over two decades of experience in enterprise technology, specializing in cloud strategy and SaaS optimization.

In her new role, Hoang is tasked with leading Commvault’s cloud, security, and AI technology initiatives and operations. Her responsibilities will also include collaborating with the engineering and product teams to foster innovation and engaging with customers to demonstrate the value of Commvault’s technologies, which have driven a robust 15.19% revenue growth in the last twelve months. For detailed analysis and additional insights, investors can access comprehensive research reports on InvestingPro, which offers exclusive financial metrics and expert analysis for over 1,400 US stocks.

Prior to joining Commvault, Hoang served as Group Vice President of Cloud Engineering and Infrastructure at UKG, where she oversaw significant cloud transformation projects. Her career also includes leadership positions at McKinsey & Company and Wipro (NYSE:WIT), where she was instrumental in developing technology strategies that enhanced business performance.

Danielle Sheer, Chief Trust Officer at Commvault, expressed confidence in Hoang’s ability to contribute to the company’s growth, citing her proven track record and customer-first approach as aligned with Commvault’s dedication to providing top-tier cyber resilience solutions.

The announcement of Hoang’s appointment is based on a press release statement from Commvault. The company, recognized for its comprehensive cyber resilience platform, serves over 100,000 organizations worldwide and is committed to ensuring data security and rapid recovery across various workloads at the lowest total cost of ownership.

In other recent news, CommVault Systems (NASDAQ:CVLT) Inc. reported its third-quarter 2024 financial results, surpassing analyst expectations with an earnings per share (EPS) of $0.94, compared to the forecasted $0.87. The company also exceeded revenue projections, reporting $263 million against an anticipated $245.93 million, marking a 21% year-over-year increase. Despite these positive results, the company’s stock experienced a decline, which might be attributed to broader market conditions or investor concerns about future growth. Subscription revenue showed significant growth, increasing by 39% to $158 million, bolstered by the addition of over 1,000 new subscription customers.

CommVault ended the quarter with $241 million in cash reserves. The company also highlighted its strategic focus on expanding its subscription services, with SaaS annual recurring revenue (ARR) jumping 75% in constant currency. Analysts from firms like Wells Fargo (NYSE:WFC) and Oppenheimer noted the company’s strong operational performance and its potential for future growth in the SaaS market. CommVault’s outlook for fiscal 2025 includes expected ARR growth of 19-20%, with subscription ARR anticipated to increase by 28-30%.

In terms of partnerships, CommVault announced that its cloud platform will be available to AWS customers and introduced advanced cloud backup capabilities for Google (NASDAQ:GOOGL) Workspace. The company also emphasized its commitment to innovation, particularly in the area of cyber resilience, as it continues to expand its product offerings.

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