Commvault Systems, Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year Fiscal 2024
January 30, 2024 at 12:47 pm
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Commvault Systems, Inc. provided earnings guidance for the fourth quarter and full year fiscal 2024. For the quarter, the company expects total revenues to be between $210 million and $214 million and subscription revenue is expected to be between $111 million and $115 million.
For the full year, the company expects total revenues to be between $826 million and $830 million; total ARR is expected to grow 15% year over year and subscription revenue to be between $420 million and $424 million.
Commvault Systems, Inc. is a data management company. The Company provides a unified Data Management Platform that spans all the users' data regardless of where it lives (on-premises, hybrid, or multi-cloud) or how it is structured (legacy applications, databases, virtual machines (VMs), or containers). It offers solutions through all combinations of software subscriptions, integrated appliances, partner-managed, or Software as a Service (SaaS) via its Metallic portfolio. The Company's offerings are organized into four categories: Data Recovery, Data Compliance and Governance, Data Storage, and Data Security. Its Commvault Backup and Recovery (CBR) provides backup, verifiable recovery and cost-optimized cloud workload mobility, helping to ensure data availability, even across multiple clouds. Commvault Disaster Recovery (CDR) provides a replication and disaster recovery solution from a single extensible platform, which is managed through the Command Center.