Commvault Systems, Inc. (CVLT) is the gold standard in cyber resilience, safeguarding data for over 100,000 organizations and ensuring their businesses remain resilient and thrive. It provides innovative security and AI features to protect data from cyber threats, modern backup and recovery capabilities, and integration with top cloud providers and security partners.
CVLT reported better-than-expected first-quarter 2024 results. Commvault’s total revenue came in at $224.70 million, surpassing analysts’ estimate of $215.54 million. Moreover, CVLT recorded a 17% annualized recurring revenue (ARR) year-over-year growth to $803 million, and its subscription ARR rose to $636 million, up 28% year-over-year.
