Commvault Systems, Inc.
- Open
- 147.06
- Day high
- 150.78
- Day low
- 146.75
- Prev close
- 149.77
- Volume
- 490K
- Mkt cap
- $6.1B
- P/E (TTM)
- 92.4
- EPS (TTM)
- $1.60
- P/B
- 813.6
- P/S
- 5.2
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$6.8M over the last 3 months (0 open-market buys, 18 sales)
- 🏛Institutions mixed (13F)
Commvault Systems, Inc. (CVLT) is a Technology company listed on NASDAQ. The stock is down 14% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 18 sales (SEC Form 4).
Commvault Systems, Inc. (CVLT) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 8 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CVLT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 28, 2026 | $1.09 | $1.28 | +17.4% | $312M | +1.6% |
| Jan 27, 2026 | $0.98 | $1.17 | +19.4% | $314M | +2.3% |
| Jul 29, 2025 | $0.97 | $1.01 | +4.1% | $282M | +3.2% |
| Apr 29, 2025 | $0.93 | $1.03 | +10.8% | $275M | +4.2% |
| Jan 28, 2025 | $0.87 | $0.94 | +8.0% | $263M | +6.9% |
| Jan 30, 2024 | $0.73 | $0.78 | +6.8% | $217M | +4.2% |
| Oct 31, 2023 | $0.65 | $0.70 | +7.7% | $201M | +3.0% |
| May 2, 2023 | $0.63 | $0.73 | +15.9% | $203M | +3.3% |
| Jan 31, 2023 | $0.68 | $0.62 | -8.8% | $195M | -1.2% |
| Nov 1, 2022 | $0.50 | $0.57 | +14.0% | $188M | +0.8% |
| Jul 26, 2022 | $0.63 | $0.64 | +1.6% | $198M | +1.4% |
| May 3, 2022 | $0.64 | $0.75 | +17.2% | $206M | +2.0% |
CVLT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 7, 2026 | Abrahamsen Danielle Nicoleofficer: Chief Accounting Officer | Sell | 254 | $150.00 |
| Jun 29, 2026 | Abrahamsen Danielle Nicoleofficer: Chief Accounting Officer | Grant | 244 | — |
| May 26, 2026 | Merrill Garyofficer: Chief Financial Officer | Sell | 4,554 | $106.70 |
| May 26, 2026 | Mirchandani Sanjaydirector, officer: President & CEO | Grant | 8,200 | — |
| May 26, 2026 | Merrill Garyofficer: Chief Financial Officer | Grant | 2,952 | — |
| May 26, 2026 | Merrill Garyofficer: Chief Financial Officer | Grant | 5,647 | — |
| May 26, 2026 | Abrahamsen Danielle Nicoleofficer: Chief Accounting Officer | Sell | 277 | $106.70 |
| May 26, 2026 | Mirchandani Sanjaydirector, officer: President & CEO | Grant | 17,118 | — |
| May 26, 2026 | Abrahamsen Danielle Nicoleofficer: Chief Accounting Officer | Grant | 328 | — |
| May 26, 2026 | Merrill Garyofficer: Chief Financial Officer | Sell | 3,777 | $107.39 |
| May 26, 2026 | Abrahamsen Danielle Nicoleofficer: Chief Accounting Officer | Sell | 101 | $107.39 |
| May 26, 2026 | Mirchandani Sanjaydirector, officer: President & CEO | Sell | 9,701 | $107.39 |
| May 21, 2026 | Mirchandani Sanjaydirector, officer: President & CEO | Sell | 13,158 | $106.19 |
| May 21, 2026 | Abrahamsen Danielle Nicoleofficer: Chief Accounting Officer | Sell | 169 | $104.01 |
| May 21, 2026 | Merrill Garyofficer: Chief Financial Officer | Sell | 2,275 | $104.01 |
Source: CVLT SEC Form 4 filings, latest Jul 7, 2026. For informational purposes only — not investment advice.
See the full CVLT insider & 13F page →Commvault Systems, Inc. company profile
Overview
Commvault Systems, Inc. (NASDAQ:CVLT) is a data protection and information management software company founded in 1988 and headquartered in Tinton Falls, New Jersey. The company went public in 2006 and has evolved from a traditional backup software provider into a comprehensive cyber resilience platform vendor. Commvault serves large enterprises, small and medium businesses, and government agencies across various industries including banking, healthcare, manufacturing, and energy, providing solutions that protect and manage data across hybrid cloud environments.
Business
Commvault operates in the data protection and cyber resilience software industry, which has become increasingly critical as organizations face growing cybersecurity threats and complex multi-cloud environments. The company's core offering is a unified platform that protects, manages, and recovers data across on-premises, cloud, and hybrid environments. The company's primary products include Commvault Backup and Recovery, which provides traditional data backup and restoration capabilities; Commvault Disaster Recovery, a replication solution that ensures business continuity; and Commvault Complete Data Protection, a comprehensive data protection suite. The company also offers Commvault HyperScale X, a scale-out solution for growing data volumes, and the Commvault Distributed Storage Platform, which provides software-defined storage built on hyperscale architecture. A significant portion of Commvault's growth comes from its cloud-native offerings under the Metallic brand, which provides Software-as-a-Service (SaaS) data protection solutions. These include Metallic Cloud Storage service and various SaaS-based backup and recovery tools. Based on recent financial reports, subscription revenue (which includes SaaS offerings) represents approximately 63% of total revenue, with traditional perpetual licenses and support services making up the remainder. The SaaS segment has been the fastest-growing component, with ARR (Annual Recurring Revenue) growing at 68% year-over-year. The company has also expanded into cyber resilience capabilities, offering solutions like ThreatWise for threat detection, Clean Room Recovery for secure data restoration, and Active Directory recovery capabilities. These innovations address the growing need for organizations to not just protect their data, but also rapidly recover from cyberattacks and maintain business continuity.
Revenue model
Commvault generates revenue through multiple business models centered around data protection software and services. The company's primary revenue streams include subscription-based software licenses, traditional perpetual software licenses, customer support and maintenance services, and professional services. The subscription model has become the dominant revenue driver, representing approximately 63% of total revenue as of fiscal 2025. This includes both term-based software subscriptions and SaaS offerings under the Metallic brand. Customers pay recurring fees for access to software and cloud-based services, providing Commvault with predictable, recurring revenue. The SaaS component, in particular, has shown exceptional growth with 68% year-over-year increase in ARR. Traditional perpetual license sales, while declining as a percentage of total revenue, still contribute to the business through upfront software purchases. Customer support and maintenance services generate ongoing revenue from existing customers, typically representing 20-25% of total revenue. Professional services, including consulting, implementation, and managed services, provide additional revenue streams and help drive customer adoption. Several factors influence Commvault's margins and profitability. Positive factors include the shift toward higher-margin subscription and SaaS revenue, economies of scale in cloud operations, and automation reducing operational costs. The company's gross margins have consistently remained above 80%, reflecting the high-margin nature of software businesses. However, margin pressures can arise from increased competition leading to pricing pressure, higher cloud infrastructure costs as SaaS business scales, and the need for continued investment in research and development to maintain technological leadership. Additionally, the company's sales and marketing expenses tend to be significant as it competes for enterprise customers and expands into new markets, particularly in the government and international sectors.
Competitive moat
Commvault's competitive moat is moderately strong but faces increasing challenges in a rapidly evolving market. The company's primary moat stems from its comprehensive, unified platform that addresses the full spectrum of data protection needs across hybrid and multi-cloud environments. This platform approach creates significant customer switching costs, as enterprises typically integrate data protection deeply into their IT infrastructure and operations. The company benefits from high customer retention rates and expanding relationships, with net dollar retention rates around 127% for its SaaS business. Once implemented, Commvault's solutions become mission-critical to business operations, making customers reluctant to switch providers. The company's FedRAMP High certification provides a regulatory moat in government markets, where security clearances and compliance requirements create barriers to entry. However, Commvault's moat faces several challenges. The data protection market is highly competitive, with established players like Veeam, Veritas, and newer cloud-native competitors like Rubrik and Cohesity. Large cloud providers such as AWS, Microsoft Azure, and Google Cloud offer integrated backup solutions that can be attractive to customers already using their platforms. The shift toward cloud-native applications and infrastructure also creates opportunities for new entrants with purpose-built solutions. The company's technological differentiation, while significant, is not insurmountable. Features like Clean Room Recovery, Active Directory restoration, and AI-driven threat detection provide competitive advantages, but these can be replicated by well-funded competitors over time. Commvault's success in maintaining its moat will largely depend on its ability to continue innovating, particularly in cyber resilience capabilities, and successfully transitioning its customer base to higher-value subscription and SaaS offerings while defending against both traditional competitors and cloud-native alternatives.
Risks & safety
Commvault demonstrates a solid margin of safety with strong financial fundamentals and manageable risk factors. **Cash Position and Debt**: The company maintains a strong balance sheet with $302 million in cash and short-term investments as of Q4 2025, providing substantial liquidity. Debt levels are minimal with a debt-to-equity ratio of only 3.4%, indicating very low financial leverage and solvency risk. **Cash Generation**: Free cash flow has been consistently strong at $204 million for fiscal 2025, representing approximately 20% of revenue. The company generates positive operating cash flow of $207 million, indicating healthy operational performance and self-funding capability. **Valuation Metrics**: Current valuation appears stretched with a P/E ratio of 56x and EV/EBITDA of 54x, suggesting limited margin of safety from a valuation perspective. However, the company trades at a P/B ratio of 21x, which while high, reflects the asset-light nature of the software business. **Growth and Profitability**: The company has achieved profitability with net margins around 8% and is growing ARR at 21% annually. The subscription business model provides revenue visibility and predictability. **Other Considerations**: Current ratio of 1.14 indicates adequate short-term liquidity, though not exceptionally strong. The company's transition to subscription revenue provides more predictable cash flows but requires continued investment in customer acquisition and retention.
Recent development
Over the past few years, Commvault has undergone a significant strategic transformation, pivoting from a traditional backup software provider to a comprehensive cyber resilience platform. This shift has been driven by the increasing sophistication of cyber threats and the need for organizations to not just protect data, but rapidly recover from attacks. Key strategic developments include the launch of the Metallic SaaS platform, which has become a major growth driver with SaaS ARR growing 68% year-over-year to $281 million. The company has introduced innovative cyber resilience capabilities such as Clean Room Recovery, which provides isolated environments for secure data restoration, and ThreatWise threat detection technology. The recent introduction of Cloud Rewind technology and Active Directory Forest Level Recovery capabilities demonstrates the company's focus on addressing sophisticated attack scenarios. Commvault has also pursued strategic acquisitions to enhance its capabilities, including the acquisition of Clumio to expand cloud-native data protection and Talon for application rebuild capabilities. The company achieved FedRAMP High authorization, opening significant opportunities in government markets where security requirements are paramount. The company has strengthened its go-to-market strategy through expanded partnerships with major cloud providers including AWS, Google Cloud, and Microsoft Azure, as well as infrastructure partners like Dell, HPE, and Pure Storage. This partner ecosystem approach has enabled Commvault to reach customers through multiple channels and integrate more deeply with existing IT environments. From a product perspective, Commvault has focused on developing solutions for emerging workloads including AI and vector databases, recognizing the growing importance of protecting these next-generation data types. The company has also enhanced its platform with automation and AI capabilities to reduce the total cost of ownership for customers and improve operational efficiency.
CVLT company profile · for informational purposes only — not investment advice.
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