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TINTON FALLS, N.J. - On Tuesday, Commvault Systems (NASDAQ:CVLT) reported first-quarter fiscal 2026 results that surpassed analyst expectations, driven by strong subscription revenue growth.
The company’s shares jumped 5.23% in pre-market trading following the earnings release.
The company posted adjusted earnings of $1.01 per share for the quarter ended June 30, beating analyst estimates of $0.97. Revenue climbed 26% YoY to $282 million, significantly above the consensus forecast of $267.84 million. Subscription revenue, which includes term-based licenses and Software-as-a-Service (SaaS), surged 46% YoY to $181.7 million, with SaaS revenue alone jumping 66% to $72.4 million.
"Commvault delivered a strong start to the fiscal year, fueled by customer growth, disciplined execution, and rising demand for our industry-leading cyber resilience platform," said Sanjay Mirchandani, President and CEO of Commvault. "With a best-in-class partner ecosystem and continuous innovation that we believe sets us apart, we are well-positioned to continue to take share in fiscal 2026 and beyond."
The company’s annualized recurring revenue (ARR) grew 24% YoY to $996 million, approaching the $1 billion milestone. Subscription ARR increased 33% to $844 million.
Looking ahead, Commvault provided second-quarter revenue guidance of $272-274 million, slightly above analyst expectations of $271 million. For the full fiscal year 2026, the company projects total revenue between $1.161-1.165 billion, with total ARR expected to grow 18% YoY and subscription ARR anticipated to increase 24%.
The strong performance reflects Commvault’s continued success in transitioning to a subscription-based business model and expanding its cyber resilience offerings amid growing demand for data protection solutions.
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