Miranda Foster Commvault 646-370-9785 mfoster@commvault.com
Michael J. Melnyk, CFA Commvault 732-865-0458 mmelnyk@commvault.com
Tinton Falls, N.J. – July 7, 2021 – Commvault (NASDAQ: CVLT) – Commvault will release the Company’s financial results for its fiscal first quarter ended June 30, 2021, on Tuesday, July 27, 2021, followed by a webcast and conference call at 8:30 a.m. Eastern Time (5:30 a.m. Pacific Time).
Investors can access the live webcast by visiting https://ir.commvault.com. An archived webcast of this conference call will also be available following the call. Investors may also access the call by dialing (844) 742-4247 (domestic) or (661) 378-9470 (international). A telephone replay will be available for seven days following the call. To access the telephone replay, dial (855) 859-2056 (domestic) or (404) 537-3406 (international) using the conference ID 9857189.
Commvault is the recognized leader in data backup and recovery. Commvault’s converged data management solution redefines what backup means for the progressive enterprise through solutions that protect, manage and use their most critical asset — their data. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,600 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States.
Safe Harbor Statement: Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
Kevin Komiega Commvault 978-834-6898 kkomiega@commvault.com
Michael J. Melnyk, CFA Commvault 732-870-4581 mmelnyk@commvault.com
Tight integration of Commvault’s Intelligent Data Services offerings with HPE’s GreenLake portfolio gives customers turnkey radically simple, infinitely scalable data protection solutions
Tinton Falls, N.J. – June 22, 2021 – Commvault (NASDAQ: CVLT), a recognized global enterprise leader in Intelligent Data Services across on-premises, cloud and SaaS environments, today announced it has won the 2021 Hewlett Packard Enterprise (HPE) GreenLake Momentum Partner of the Year Award at HPE Discover 2021.
According to HPE, the 2021 Partner of the Year Awards recognize partners from across the HPE ecosystem for their incredible commitment to customer excellence, continued strong performance, focus on growth, and dedication to mutual achievements. Winners were selected based on financial performance, innovative solutions, and ability to drive transformative business outcomes for shared customers.
“In the last year, I’ve seen HPE partners go above and beyond the call of duty. I’m incredibly proud to honor them with these accolades,” said George Hope, Worldwide Head of Partner Sales, HPE. “As a channel-led company, HPE is committed to supporting our partners with the best-in-industry innovation, initiatives, and expertise to drive differentiation and deliver better outcomes to our shared customers. We are grateful for the continued strong partnership, which allows us to collaborate and grow together, while setting a new standard for our joint success.”
“It’s an honor to be one of HPE’s top partners for the third straight year. Commvault and HPE both believe that embodying partner-first values and a strong commitment to delivering better outcomes to our shared customers are critical elements that help them unleash their growth potential,” said John Tavares, Vice President, Worldwide Partner Organization for Commvault. “We are more excited than ever about our growing partnership with HPE. Our collaborative innovations with GreenLake Backup-as-a-Service and our tight integration with HPE technology gives our customers simple, flexible and radically scalable solutions, whether on-premises or in the cloud.”
Commvault’s Intelligent Data Services Platform leverages all parts of Commvault’s existing portfolio via a broad set of delivery models that vary from software subscription, an integrated appliance, partner-managed, to increasingly SaaS—a critical differentiator in the market. This platform includes the following set of services: Data Management & Protection, Data Security, Data Compliance & Governance, Data Transformation, and Data Insights. The new Intelligent Data Services provide comprehensive, end-to-end storage and workload support regardless of where they reside.
The innovations developed through Commvault’s growing partnership with HPE to deliver BaaS with GreenLake gives customers proven, award-winning data protection with the flexibility to scale as they grow while maintaining the enterprise class protection they need.
To learn more about Commvault’s recently-enhanced Partner Advantage program, including newly refined and tailored support for MSP and Aggregator partners, please visit our website. More information on the 2021 HPE Partner of the Year Awards can be found on the HPE website.
About Commvault
Commvault liberates business and IT professionals to do amazing things with their data by ensuring the fundamental integrity of their business. Its industry-leading Intelligent Data Services platform empowers these professionals to store, protect, optimize, and use their data, wherever it lives. Delivering the ultimate in simplicity and flexibility to customers, its Intelligent Data Services platform is available as a software subscription; integrated appliance; partner-managed, and software-as-a-service—a critical differentiator in the market. For 25 years, more than 100,000 organizations have relied on Commvault, and today, every quarter, Metallic is doubling the number of customers who leverage it to modernize their environments as they look to SaaS for the future. Driven by its values—Connect, Inspire, Care, and Deliver—Commvault (NASDAQ: CVLT) employs more than 2,700 highly-skilled individuals around the world. Visit Commvault.com or follow us at @Commvault.
Safe Harbor Statement: Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
Commvault Leads Enterprise Hybrid Cloud Data Protection, While Metallic Leads SMB
Tinton Falls, NJ – June 21, 2021 – Today Commvault (NASDAQ: CVLT), a recognized global enterprise leader in Intelligent Data Services across on-premises, cloud and SaaS environments, announced that GigaOm has named the company as a “leader” and an “outperformer” in its most recent reports: “GigaOm Radar for Hybrid Cloud Data Protection (Enterprise)” and “GigaOm Radar for Hybrid Cloud Data Protection (SMB).” Commvault was a top-rated vendor in all Key Criteria and Evaluation categories across both reports.
“Commvault and Metallic together can support data protection for all environments and companies of all sizes. This is why both entities’ offerings have been designated as ‘Outperformers’ in our hybrid cloud reports. Commvault meets the challenges of cloud-based data protection in an increasingly complex and demanding market, with a solution which is easy to manage,” said Enrico Signoretti, Research Analyst, GigaOm.
GigaOm Radar for Hybrid Cloud Data Protection (Enterprise)
The GigaOm Radar for Hybrid Cloud Data Protection (Enterprise) recognizes the importance of data protection on customers’ journey to the cloud, especially the difficulty in protecting data generated in multiple places. According to the report: “The range of options to protect customer environments makes Commvault well suited to all market segments, especially to larger enterprises with complex environments where a unified solution that simplifies the complexity is highly valued. Commvault’s ability to solve complex data management challenges extends beyond backup and includes capabilities to further protect customer data.”
Commvault Complete Data Protection scored the highest possible rating in all Key Criteria and Evaluation Metrics, which include analytics, security, and breadth of solution.
“At Commvault, we’re focused on making data protection in any environment as simple and efficient as possible,” said Ranga Rajagopalan, VP of Product Management at Commvault. “We recognize that the cloud poses unique opportunities—and unique challenges—and are focused on ensuring that our customers’ data is protected no matter where it lives.”
GigaOm Radar for Hybrid Cloud Data Protection (SMB)
This report focuses on Small and Medium-Sized Businesses and their adoption of SaaS applications that live in the cloud, but do not come with inherent data protection. The report states: “Commvault is one of the few data protection solution providers that can offer an end-to-end product line suitable for the needs of organizations of every size. Complete Data Protection focuses on large enterprises, while Metallic’s agile release cycle addresses mid-market and smaller organizations and protects SaaS apps.”
“Commvault and Metallic offerings together offer end-to-end data protection solutions for companies of all sizes,” said Manoj Nair, General Manager, Metallic. “Customers further along their cloud journey can protect their SaaS, multi-cloud and on-premises workloads with the simplicity of Metallic BaaS. Customers who need the flexibility of an on-premises deployment via software or appliance model can add Metallic to protect their SaaS workloads or MCSS for their air-gap ransomware protection recovery copy. This is only possible with what we call the power of ‘AND’ with Commvault and Metallic, which are unique in flexibility and choice for our customers.”
About Commvault
Commvault liberates business and IT professionals to do amazing things with their data by ensuring the fundamental integrity of their business. Its industry-leading Intelligent Data Services platform empowers these professionals to store, protect, optimize, and use their data, wherever it lives. Delivering the ultimate in simplicity and flexibility to customers, its Intelligent Data Services platform is available as a software subscription; integrated appliance; partner-managed, and software-as-a-service—a critical differentiator in the market. For 25 years, more than 100,000 organizations have relied on Commvault, and today, every quarter, Metallic is doubling the number of customers who leverage it to modernize their environments as they look to SaaS for the future. Driven by its values—Connect, Inspire, Care, and Deliver—Commvault (NASDAQ: CVLT) employs more than 2,700 highly-skilled individuals around the world. Visit Commvault.com or follow us at @Commvault.
About Metallic™
Metallic™, a Commvault venture, was established to bring next-generation SaaS data protection to market, delivering Commvault’s powerful core technology simply through the cloud. Together with its partners, Metallic offers a growing portfolio of SaaS backup and recovery solutions to help today’s companies keep their data protected, compliant, and safe from deletion, corruption, and attack. Metallic operates as a division of Commvault and can be found at http://www.metallic.io.
Safe Harbor Statement: Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
Kevin Komiega Commvault 978-834-6898 kkomiega@commvault.com
Michael J. Melnyk, CFA Commvault 732-870-4581 mmelnyk@commvault.com
Enhanced programs provide MSPs and Aggregators with innovative Intelligent Data Services; dedicated, partner-focused support; a modern, profitable, and predictable program tailored for partner success
Tinton Falls, N.J. – June 9, 2021 – Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, today announced enhanced Managed Service Provider (MSP) and Aggregator Partner Advantage Programs, tailored and refined to support the way Commvault’s MSP and Aggregator partners operate while fulfilling their unique needs for delivering “Commvault Powered” Intelligent Data Services to customers of all sizes around the world.
With a fundamental shift in the IT landscape, organizations are increasingly looking toward managed service providers for consumption-based solutions that span the entire IT stack and are cost-effective, scalable, and easy to consume. Seeing this as a fast-growing and clear market direction, Commvault has further evolved its industry-leading Partner Advantage Program to now offer MSPs and Aggregators the critical elements they seek to be successful – multiple ways to partner and earn incentives that drive profitability, deep ecosystem relationships centered around joint selling, and tools like in-region support, expansive training, and marketing resources to drive partner growth and win more deals.
“One of Commvault’s main objectives is to always provide our partners with Intelligent Data Services that help organizations protect and manage data and applications in an increasingly hybrid and multi-cloud world,” said John Tavares, Vice President, Global Channels and Alliances. “The enhancements to our MSP and Aggregator programs help our partners achieve these goals, meet challenges head-on, and future-proof their business. Our solutions are industry-leading and we provide the tools, benefits, experience, and support that enable partners to help their customers safely protect and manage their data in any environment – on-prem, cloud, or SaaS.”
Centered around Commvault’s four key pillars for a winning partnership, the MSP Partner Advantage Program offers a range of benefits that allow partners to easily build on existing services and create new ones for their customers. The simple, modern program offers two tiers with clearly identified tier promotional requirements and incentives, rewarding partners for driving consumption. MSP partners are also provided with flexible licensing and consumption options that include both subscription and utility agreements to align with customer demand. With partner success as a key foundation, Commvault offers free training resources and curriculums designed to build competency, helping both MSPs and Aggregators operate and grow their “Commvault Powered” practice.
In addition, Commvault plans to add Metallic for MSPs to its Partner Advantage Program later this year, enabling its MSP partners to broaden their service catalogs and grow their business with the agility of SaaS.
Commvault’s MSP partners see the value in partnering with Commvault:
Tim deLisle, President, Meridian IT said, “Working with an industry leader like Commvault has benefitted our customers dramatically, providing us with the tools and resources to maximize the Commvault portfolio of Intelligent Data Services and helping our customers solve their very real data management challenges. Whether its on-prem or in the cloud, together with Commvault, we can close the Business Integrity Gap for our customers with solutions that store, protect, and optimize their data.”
Mikhail Soloviev, Product Development Director, DataLine shares these same sentiments. He said, “Commvault provides proven, easy scalable solutions that ensure continuous backup and data protection. With the help of our proprietary technologies and the broad functionality of Commvault solutions, our clients receive the best data protection, as well as reliability and flexibility for their business.”
Thierry Moreaud, Commercial Director, Syage commented, “Commvault’s portfolio offers unique coverage in the market and is based on a reliable and flexible architecture. We can reduce the risks for our customers with a single unified data protection platform, which creates an intelligent data service.”
Commvault liberates business and IT professionals to do amazing things with their data by ensuring the fundamental integrity of their business. Its industry-leading Intelligent Data Services platform empowers these professionals to store, protect, optimize, and use their data, wherever it lives. Delivering the ultimate in simplicity and flexibility to customers, its Intelligent Data Services platform is available as a software subscription; integrated appliance; partner-managed, and software-as-a-service—a critical differentiator in the market. For 25 years, more than 100,000 organizations have relied on Commvault, and today, every quarter, Metallic is doubling the number of customers who leverage it to modernize their environments as they look to SaaS for the future. Driven by its values—Connect, Inspire, Care, and Deliver—Commvault (NASDAQ: CVLT) employs more than 2,700 highly-skilled individuals around the world. Visit Commvault.com or follow us at @Commvault.
Safe Harbor Statement: Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
Michael J. Melnyk, CFA 732-870-4581 mmelnyk@commvault.com
Megan Lane 732-539-2767 mlane@commvault.com
Commvault’s Uniquely Integrated Portfolio with HyperScale X and Metallic Provides Intelligent Data Services for All Workloads
Tinton Falls, N.J. – May 25, 2021 – Commvault (NASDAQ: CVLT) today announced the expansion of its Metallic software as a service (SaaS) portfolio and a new unified Intelligent Data Services Platform designed to meet organizations’ growing demand to intelligently manage their most critical asset—their data.
Continued SaaS Leadership with Metallic
Commvault is expanding its enterprise-grade SaaS data management offerings with the introduction of Metallic™ Backup for Microsoft Dynamics 365, giving customers support for all three Microsoft clouds—Microsoft Dynamics 365, Microsoft Office 365, and Microsoft Azure. This follows the addition of HyperScale™ X for Metallic, a fully integrated, scale-out on-premises storage target for Metallic backup as a service that delivers choice for hybrid cloud data protection. With today’s expanded offerings, customers have even more flexibility to realize the benefits of SaaS-delivered backup, anywhere and everywhere.
“By seamlessly integrating Commvault HyperScale X and Metallic, we offer customers what we call the ‘power of AND’—the ability to extend between on-premises and cloud with a single integrated solution. We are giving customers a variety of delivery models, a robust portfolio of new services, and the continuous innovation they’ve come to expect from Commvault,” said Sanjay Mirchandani, President and CEO, Commvault. “Customers need the simplicity and flexibility that SaaS enables, and no vendor in the market is positioned like Commvault to help them embrace the possibilities of this future.”
Today’s announcement reinforces Commvault’s leadership as customers increasingly move to SaaS data management. IDC states that the data protection as a service segment is expected to grow at 16.8% CAGR, the fastest growing segment in the data protection market. As a company that has been at the forefront of innovation for its rich 25-year history, Commvault’s recently announced fiscal year results demonstrate that customers are embracing Commvault’s expanding portfolio. Metallic, now available in 24 countries, doubled its number of customers every quarter in fiscal 2021.
A Single Integrated Platform of Intelligent Data Services Delivered with Choice
Commvault’s new Intelligent Data Services Platform leverages all parts of Commvault’s existing portfolio via a broad set of delivery models that vary from software subscription, an integrated appliance, partner-managed, to increasingly SaaS—a critical differentiator in the market. This platform includes the following set of services: Data Management & Protection, Data Security, Data Compliance & Governance, Data Transformation, and Data Insights. The new Intelligent Data Services provide comprehensive, end-to-end storage and workload support regardless of where they reside.
Integrated together in a single platform, this approach provides organizations the ability to embrace the “power of AND,” and harness the value of enterprise data.
Customers, analysts and other industry experts recognize that Commvault is driving leadership in SaaS as the future.
Chart Industries quickly recognized the “power of AND.” “Chart has been a vocal Commvault customer for a long time, and Metallic has intrigued us from day one,” said Nathaniel Hauenstein, Global Infrastructure Manager, Chart Industries. “SaaS is important as we continue to drive rapid company growth and seek to back up and protect our Microsoft Office 365 and Salesforce data. Commvault and Metallic together are a trusted partner, and their bulletproof solutions mean that we will have the scale, flexibility and reliability that are critical to our business.”
Ian Moyse, recognized industry cloud influencer agrees that the future is SaaS. “The reality for SaaS is more real than ever, especially as it continues to accelerate and facilitate businesses to operate in an ever-increasing remote world as a result of the COVID-19 pandemic,” said Moyse. “Commvault’s ability to mesh delivery models with a single interface is genius—customers are looking to reduce complexity in their environments, and this delivers in spades. Commvault and Metallic are a software dream team for customers, and it will only get better from here as cloud innovation continues at a pace.”
“Commvault has always been on the cutting edge of innovation, and through their leadership in cloud and SaaS offerings, they have really differentiated themselves,” said Christophe Bertrand, ESG. “I have said that 2020 was a breakout year for the company, and the recent financial performance is proof of that. Commvault has shown steady growth for the past 25 years, and its approach to the business integrity gap and its focus on intelligent data services makes them well-positioned to continue to lead the market.”
About Commvault
Commvault (NASDAQ: CVLT) liberates business and IT professionals to do amazing things with their data by ensuring the fundamental integrity of their business. Its industry-leading Intelligent Data Services Platform empowers these professionals to store, protect, optimize, and use their data, wherever it lives. Delivering the ultimate in simplicity and flexibility to customers, its Intelligent Data Services Platform is available as software subscription, an integrated appliance, partner-managed, and software as a service—a critical differentiator in the market. For 25 years, more than 100,000 organizations have relied on Commvault, and today, every quarter, Metallic is doubling the number of customers who leverage it to modernize their environments as they look to SaaS for the future. Driven by its values—Connect, Inspire, Care, and Deliver—Commvault employs more than 2,700 highly-skilled individuals around the world. Visit Commvault.com or follow us at @Commvault.
Safe Harbor Statement: Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
Kevin Komiega Commvault 978-834-6898 kkomiega@commvault.com
Michael J. Melnyk, CFA Commvault 732-870-4581 mmelnyk@commvault.com
Lamia Megdiche, VP, Partner Strategy & Programs Highlighted on CRN’s 2021 Women of the Channel Power 100 List
Tinton Falls, N.J. – May 10, 2021 – Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, today announced CRN®, a brand of The Channel Company, has named 15 Commvault executives to the highly respected Women of the Channel list for 2021 and selected Lamia Megdiche, Vice President, Partner Strategy and Programs to the 2021 Power 100list.
This annual list recognizes the unique strengths, vision and achievements of female leaders in the IT channel. The 2021 Women of the Channel list acknowledges women from all over the IT channel, including vendors, distributors and solution providers. The 2021 Power 100list is a distinguished subset of elite leaders chosen from the CRN Women of the Channel list who have gone above and beyond — inspiring their peers through their leadership and unwavering commitment to the success of their partners, customers and the entire IT channel.
The women honored on this year’s lists pushed forward with comprehensive business plans, marketing initiatives and other innovative ideas to support their partners and customers, helping them through the uncertainty brought on by the global COVID-19 pandemic. CRN celebrates these exceptional women for their leadership, dedication and channel advocacy.
This year’s Commvault honorees are:
Melissa Barnhart, Director of North America Partner Sales, Metallic
Shauntel Carter, Senior Field Operations Analyst
Mary Ellen Cavanagh, Manager, Solutions Marketing
Sarah Chaseling, Senior Manager, Partner & Alliance Marketing APJ
Lisa Critchlow, Director, Worldwide Partner Marketing Programs
Angelina Gambina, Global Channel Sales Lead, Emerging Technologies
Beth Gard, Senior Manager, Public Relations
Tulin Green, Senior Director, EMEA Marketing
LouLou Healey, Senior Director & Head of Americas Field, Channel and Alliances Marketing
“In leading our Global Partner Organization, I have seen firsthand the talent, expertise, and drive each of these women bring to their roles at Commvault, making them instrumental in the development and execution of our channel strategy,” said John Tavares, Vice President, Global Channel and Alliances. “We have been able to exceed our goals with the help of these women and I am thrilled to celebrate their achievements and recognition in the industry. I am also especially proud of Lamia and the mentorship she has brought to Commvault, resulting in a very deserving space on the Power 100 List.”
“CRN’s 2021 Women of the Channel list acknowledges accomplished, influential women whose dedication, hard work, and leadership accelerate channel growth,” said Blaine Raddon, CEO of The Channel Company. “We are proud to honor them for their many accomplishments and look forward to their continued contributions to the IT channel.”
The 2021 Women of the Channel list will be featured in CRN Magazine on May 10th and online at www.CRN.com/WOTC.
About Commvault
Commvault is the recognized leader in data backup and recovery. Commvault’s converged data management solution redefines what backup means for the progressive enterprise through solutions that protect, manage and use their most critical asset — their data. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,600 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States.
About The Channel Company
The Channel Company enables breakthrough IT channel performance with our dominant media, engaging events, expert consulting and education, and innovative marketing services and platforms. As the channel catalyst, we connect and empower technology suppliers, solution providers, and end users. Backed by more than 30 years of unequalled channel experience, we draw from our deep knowledge to envision innovative new solutions for ever-evolving challenges in the technology marketplace. www.thechannelcompany.com
Safe Harbor Statement: Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
Tinton Falls, N.J. – May 4, 2021 – Commvault [NASDAQ: CVLT] today announced its financial results for the fourth quarter and fiscal year ended March 31, 2021.
“We are proud to report Commvault delivered record quarter and full fiscal year revenue coupled with material operating margin expansion,” said Sanjay Mirchandani, President and CEO. “Our portfolio and roadmap are strong, our team is focused on execution, and our vision is resonating in the marketplace. While our work is never done, our transformation efforts thus far have been successful and we expect will fuel our continued growth in the new fiscal year.”
Total revenues for the fourth quarter of fiscal 2021 were $191.3 million, an increase of 16% year over year. Total recurring revenue was $145.6 million, an increase of 24% year over year. For the full fiscal year, total revenues were $723.5 million, an increase of 8% from fiscal year 2020.
Annualized recurring revenue (ARR), which is the annualized value of all active Commvault recurring revenue streams at the end of the reporting period, was $517.9 million as of March 31, 2021, up 15% from March 31, 2020.
Software and products revenue in the fourth quarter was $89.4 million, an increase of 35% year over year. The year over year increase in software and products revenue was driven by a 39% increase in revenue from larger deals (deals greater than $0.1 million in software and products revenue).
Larger deal revenue represented 69% of our software and products revenue in the three months ended March 31, 2021. The number of larger deal revenue transactions increased 30% year over year to 198 deals for the three months ended March 31, 2021. The average dollar amount of larger deal revenue transactions was approximately $313,000, representing a 7% increase from the prior year quarter.
Software and products revenue for the full fiscal year was $326.8 million, an increase of 19% from fiscal 2020. The year over year increase in software and products revenue was driven by a 26% increase in revenue from larger deals. Larger deal revenue represented 69% of our software and products revenue in fiscal year 2021. The number of larger deal revenue transactions increased 12% from fiscal year 2020 to 673 deals. The average dollar amount of larger deal revenue transactions was approximately $335,000, representing a 13% increase from the prior year.
Services revenue in the quarter was $102.0 million, up 4% year over year. For the full fiscal year, services revenue was $396.6 million, flat from fiscal 2020.
On a GAAP basis, income from operations (EBIT) was $10.3 million for the fourth quarter compared to loss of $2.2 million in the same period of the prior year. Non-GAAP EBIT was $38.8 million in the quarter compared to $18.3 million in the prior year.
On a GAAP basis, loss from operations (EBIT) for the full fiscal year was $22.3 million compared to loss of $17.5 million in fiscal year 2020. Non-GAAP income from operations (EBIT) was $137.5 million in fiscal 2021 compared to $87.5 million in the prior fiscal year.
For the fourth quarter of fiscal 2021, Commvault reported net income of $6.3 million. Non-GAAP net income for the quarter was $28.5 million, or $0.59 per diluted share.
For the full fiscal year, Commvault reported net loss of $31.0 million. Non-GAAP net income for the full fiscal year was $101.1 million, or $2.11 per diluted share.
Operating cash flow totaled $64.7 million for the fourth quarter of fiscal 2021 compared to $32.5 million in the prior year quarter. For the full fiscal year, operating cash flow was $124.0 million, compared to $88.5 million for fiscal year 2020. Total cash and short-term investments were $397.2 million as of March 31, 2021 compared to $339.7 million as of March 31, 2020.
During the fiscal fourth quarter, Commvault repurchased approximately 943,000 shares of its common stock totaling $62.1 million at an average price of approximately $65.91 per share. During the full fiscal year, Commvault repurchased approximately 1.6 million shares of its common stock totaling $95.3 million at an average price of approximately $57.97 per share.
A reconciliation of GAAP to non-GAAP results has been provided in Financial Statement Table IV included in this press release. (Download Financial Tables)
An explanation of these measures is also included below under the heading “Use of Non-GAAP Financial Measures.”
Use of Non-GAAP Financial Measures
Commvault has provided in this press release the following non-GAAP financial measures: non-GAAP income from operations, non-GAAP income from operations margin, non-GAAP net income, non-GAAP diluted earnings per share and annualized recurring revenue (ARR). This selected financial information has not been prepared in accordance with GAAP. Commvault uses these non-GAAP financial measures internally to understand, manage and evaluate its business and make operating decisions. In addition, Commvault believes these non-GAAP operating measures are useful to investors, when used as a supplement to GAAP financial measures, in evaluating Commvault’s ongoing operational performance. Commvault believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends, and in comparing its financial results with other companies in Commvault’s industry, many of which present similar non-GAAP financial measures to the investment community. Commvault has also provided software and products, services and total revenues on a constant currency basis. Commvault analyzes revenue growth on a constant currency basis in order to provide a comparable framework for assessing how the business performed excluding the effect of foreign currency fluctuations.
All of these non-GAAP financial measures should be considered as a supplement to, and not as a substitute for or superior to, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures, which are provided in Table IV included in this press release. (Download Financial Tables)
Non-GAAP income from operations and non-GAAP income from operations margin. These non-GAAP financial measures primarily exclude noncash stock-based compensation charges and additional FICA and related payroll tax expense incurred by Commvault when employees exercise in the money stock options or vest in restricted stock awards as well as restructuring costs. In fiscal 2021, Commvault has also excluded certain costs related to key employees of Hedvig and the noncash amortization and impairment of intangible assets from its non-GAAP results. These expenses are further discussed in Table IV. Commvault believes that these non-GAAP financial measures are useful metrics for management and investors because they compare Commvault’s core operating results over multiple periods. When evaluating the performance of Commvault’s operating results and developing short- and long-term plans, Commvault does not consider such expenses.
Although noncash stock-based compensation and the additional FICA and related payroll tax expenses are necessary to attract and retain employees, Commvault places its primary emphasis on stockholder dilution as compared to the accounting charges related to such equity compensation plans. Commvault believes that providing non-GAAP financial measures that exclude noncash stock-based compensation expense and the additional FICA and related payroll tax expenses incurred on stock option exercises and vesting of restricted stock awards allow investors to make meaningful comparisons between Commvault’s operating results and those of other companies.
Amortization and impairment charges of intangible assets are noncash items. Commvault believes the exclusion of these expenses provide for a useful comparison of operating results to prior periods and to other companies.
There are a number of limitations related to the use of non-GAAP income from operations and non-GAAP income from operations margin. The most significant limitation is that these non-GAAP financial measures exclude certain operating costs, primarily related to noncash stock-based compensation, which is of a recurring nature. Noncash stock-based compensation has been, and will continue to be for the foreseeable future, a significant recurring expense in Commvault’s operating results. In addition, noncash stock-based compensation is an important part of Commvault’s employees’ compensation and can have a significant impact on their performance. Lastly, the components that Commvault excludes in its non-GAAP financial measures may differ from the components that its peer companies exclude when they report their non-GAAP financial measures.
Commvault’s management generally compensates for the limitations described above related to the use of non-GAAP financial measures by providing investors with a reconciliation of the non-GAAP financial measure to the most directly comparable GAAP financial measure. Further, Commvault management uses non-GAAP financial measures only in addition to, and in conjunction with, results presented in accordance with GAAP.
Non-GAAP net income and non-GAAP diluted earnings per share (EPS). In addition to the adjustments discussed in non-GAAP income from operations, non-GAAP net income and non-GAAP diluted EPS incorporates a non-GAAP effective tax rate of 27%.
Commvault anticipates that in any given period its non-GAAP tax rate may be either higher or lower than the GAAP tax rate as evidenced by historical fluctuations. The GAAP tax rates in recent fiscal years were not meaningful percentages due to the dollar amount of GAAP pre-tax income. For the same reason as the GAAP tax rates, the estimated cash tax rates in recent fiscal years are not meaningful percentages. Commvault defines its cash tax rate as the total amount of cash income taxes payable for the fiscal year divided by consolidated GAAP pre-tax income. Over time, Commvault believes its GAAP and cash tax rates will align.
Commvault considers non-GAAP net income and non-GAAP diluted EPS useful metrics for Commvault management and its investors for the same basic reasons that Commvault uses non-GAAP income from operations and non-GAAP income from operations margin. In addition, the same limitations as well as management actions to compensate for such limitations described above also apply to Commvault’s use of non-GAAP net income and non-GAAP EPS.
Conference Call Information
Commvault will host a conference call today, May 4, 2021 at 8:30 a.m. Eastern Time (5:30 a.m. Pacific Time) to discuss its financial results. To access this call, dial 844-742-4247 (domestic) or 661-378-9470 (international). The live webcast can be accessed under the “Events” section of Commvault’s website. An archived webcast of this conference call will also be available following the call.
About Commvault
Commvault is the recognized leader in data backup and recovery. Commvault’s converged data management solution redefines what backup means for the progressive enterprise through solutions that protect, manage and use their most critical asset — their data. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,600 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States. To learn more about Commvault visit www.commvault.com
Safe Harbor Statement
This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions, outcome of litigation and others. For a discussion of these and other risks and uncertainties affecting Commvault’s business, see “Item IA. Risk Factors” in our annual report in Form 10-K and “Item 1A. Risk Factors” in our most recent quarter report in Form 10-Q. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
GPO Vice Presidents, John Tavares, Lamia Megdiche, and Jesse Grindeland, Named to the Esteemed List of IT Channel Leaders.
Media Contact:
Investor Relations Contact:
Kevin Komiega Commvault 978-834-6898 kkomiega@commvault.com
Michael J. Melnyk, CFA Commvault 732-870-4581 mmelnyk@commvault.com
Tinton Falls, N.J. – February 10, 2021 – Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, today announced that CRN®, a brand of The Channel Company, has named John Tavares, Vice President, Global Channels and Alliances, Lamia Megdiche, Vice President, Partner Strategy and Programs, and Jesse Grindeland, Vice President, America’s Global Partner Organization, to its 2021 list of Channel Chiefs. The prestigious CRN® Channel Chiefs list recognizes leading IT channel vendor executives who continually demonstrate outstanding leadership, influence, innovation, and growth.
Commvault continues to attract the best talent in the IT channel and, together, Tavares, Megdiche, and Grindeland manage the key elements of Commvault’s global partner organization – worldwide and regional growth, strategy, relationship optimization, and forward-looking transformation. As the leader of Commvault’s Global Partner Organization, Tavares oversees the growth of Commvault’s Global Partner Organization as a whole and strengthens the company’s relationships with partners worldwide. Megdiche focuses on the overall strategy of the Global Partner Organization, driving the evolution of worldwide partner programs across all routes to market and advancing and optimizing Commvault’s global and regional distribution partners. Grindeland manages Commvault’s partner business in the Americas, with a key focus on execution and future transformation.
“As a channel-led company, nurturing and evolving our strong partner ecosystem is critical to everything we do at Commvault, and a key priority for our Global Partner Organization led by John, Lamia, and Jesse,” said Riccardo Di Blasio, Chief Revenue Officer, Commvault. “Under their leadership, we have created a simple, streamlined program with all of the critical tools, training, and innovative solutions that drive our partners’ business opportunities – further strengthening our partnerships and joint success.”
The 2021 Channel Chiefs are prominent leaders who have influenced the IT channel with cutting-edge strategies, programs and partnerships. All honorees are selected by CRN’s editorial staff based on their dedication, industry prestige, and exceptional accomplishments as channel advocates.
“CRN’s 2021 Channel Chiefs list includes the industry’s biggest channel evangelists, a group of individuals who work tirelessly on behalf of their partners and drive growth through the development of strong partner programs and innovative business strategies that help bring business-critical solutions to market,” said Blaine Raddon, CEO of The Channel Company. “The Channel Company is proud to recognize these channel influencers and looks forward to following their continued success.”
CRN’s 2021 Channel Chiefs list will be featured in the February 2021 issue of CRN® Magazine and online at www.CRN.com/ChannelChiefs. Most recently, Commvault was also named to CRN’s list of 100 Coolest Cloud Companies for 2021. Learn more here.
About Commvault
Commvault is a worldwide leader in delivering data readiness, enabling customers to intelligently manage data with solutions that store, protect, optimize and use data. Commvault software automates mind-numbing IT tasks and makes data work harder for customers— so they can gain invaluable insights for their businesses. Commvault solutions work across cloud and on-premises environments, leveraging the digital tools and procedures already in use. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,300 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States. Visit Commvault.com or follow us at @Commvault.
About The Channel Company
The Channel Company enables breakthrough IT channel performance with our dominant media, engaging events, expert consulting and education, and innovative marketing services and platforms. As the channel catalyst, we connect and empower technology suppliers, solution providers and end users. Backed by more than 30 years of unequalled channel experience, we draw from our deep knowledge to envision innovative new solutions for ever-evolving challenges in the technology marketplace. www.thechannelcompany.com
Safe Harbor Statement: Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
Megan Lane Commvault 732-539-2767 mlane@commvault.com
Michael J. Melnyk, CFA Commvault 732-870-4581 mmelnyk@commvault.com
Tinton Falls, N.J. – February 4, 2021 – Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, today announced the appointment of Isabelle Guis as Chief Marketing Officer (CMO). Guis will use her deep experience in marketing industry-leading cloud and SaaS-based solutions to take the reins of Commvault’s global marketing efforts.
“With Commvault’s strong momentum and leading product portfolio, it’s the perfect time for Isabelle to join,” said Sanjay Mirchandani, CEO, Commvault. “Based in the Bay Area, her experience is well aligned to our business and I’m confident her leadership will help drive our next phase of company growth.”
Guis brings two decades of experience in B2B technology marketing and has knowledge of multiple go-to-market motions, including SaaS, direct and through channel partners. She also brings expertise in product marketing and management across the IT industry. Most recently, she was vice president of sales cloud product marketing at Salesforce, where she oversaw product messaging, launches, and innovation for the Sales Cloud portfolio. Prior to Salesforce, she was the chief marketing and strategy officer at Egnyte, where she led the development and launch of a new offering that expanded Egnyte’s total addressable market (TAM) from $2B to $25B. Guis has also held executive and senior management roles at EMCCorporation, Big Switch Networks, Avaya, Cisco Systems, and Nortel Networks.
“Commvault’s position as an established player in data protection, with an industry-leading portfolio is compelling. That’s really what drew me to this opportunity,” said Guis. “The leadership team has some of the most recognized industry experts and the marketing organization is a smart, and high-functioning team. I can’t wait to make magic at Commvault with them.”
Guis was voted a Top 100 most influential B2B tech marketer in North America in 2016. She holds a Master of Business Administration degree from Harvard Business School and a Master of Science degree in Electrical Engineering and Computer Science from SUPELEC (Ecole Superieure d’Electricite) in Paris. She enjoys socially responsible traveling and providing pro bono consulting work to local Bay Area public and non-profit organizations.
About Commvault
Commvault is a worldwide leader in delivering data readiness, enabling customers to intelligently manage data with solutions that store, protect, optimize and use data. Commvault software automates mind-numbing IT tasks and makes data work harder for customers— so they can gain invaluable insights for their businesses. Commvault solutions work across cloud and on-premises environments, leveraging the digital tools and procedures already in use. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,300 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States. Visit Commvault.com or follow us at @Commvault.
Safe Harbor Statement: Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
The partnership enables a unique data protection solution that protects and migrates IBM i data in Azure.
Media Contact:
Investor Relations Contact:
Kevin Komiega Commvault 978-834-6898 kkomiega@commvault.com
Michael J. Melnyk, CFA Commvault 732-870-4581 mmelnyk@commvault.com
Tinton Falls, N.J. – February 3, 2021 – Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, today announces a new partnership with Skytap to expand data protection and migration for IBM i (AS/400) workloads hosted in Skytap on Microsoft Azure. Through the partnership, Commvault and Skytap are further accelerating the hybrid cloud journey of enterprise customers by enabling the ability to migrate, run, and protect IBM i workloads natively on Azure.
Many industries, including financial services, retail, entertainment, and casinos, for decades have relied on trusted IBM i technology to house mission-critical data on-premises. Now with the rising costs of protecting mainframe technology, businesses are looking to cloud alternatives, including Azure, to offer cost-effective solutions without compromising their data protection SLAs.
To address this need, Commvault is partnering with Skytap to offer a seamless solution that backs up, recovers, and migrates data on IBM i that is hosted and running in Skytap for Azure cloud datacenters. The solution eliminates expensive mainframe backup hardware, instead using Azure as a seamless backup target, powered by Commvault’s differentiated cloud-native data protection. As customers migrate their IBM i workloads from on-premises environments to Skytap on Azure, they can continue using the same trusted data protection from Commvault, driven by the simplicity of the Commvault Command Center.
“Working with Commvault so we can provide backup, recovery, and migration support for mission-critical IBM i workloads just makes sense,” said Brad Schick, CEO, Skytap. “We combined Commvault’s industry-leading data backup and recovery solution with Skytap’s ability to natively run IBM i workloads in Microsoft Azure to offer customers the most reliable and affordable IBM i solution available today.”
“As an industry leader in data management with 20-plus years of expertise in supporting Microsoft solutions, we strive to provide trusted data management and protection for a wide range of enterprise applications across on-premises, cloud, and hybrid environments, including on mainframe platforms,” said Randy De Meno, VP and CTO, Microsoft Practice & Solutions, Commvault. “With Skytap, we are able to make it effortless for companies to back up, recover, and migrate data from IBM i on-premises to Microsoft Azure. This relationship, coupled with our collaboration with Microsoft, allows us to continue enabling our customers to run even their most business-critical workloads in Azure, with the confidence that all the data is reliably protected and easy to recover.”
“Commvault takes full advantage of the Microsoft Azure infrastructure to enhance its enterprise-grade data management solution, adding value to not only Microsoft products, but others like IBM workloads on Azure via Skytap,” said David Totten, Chief Technology Officer, Microsoft. “With Commvault and Metallic utilizing Azure as their compute host and backup target, our customers are able to use a single seamless data management solution for their heterogeneous environments.”
Find more information about Commvault’s support for Microsoft Azure here.
About Commvault
Commvault is a worldwide leader in delivering data readiness, enabling customers to intelligently manage data with solutions that store, protect, optimize, and use data. Commvault software automates mind-numbing IT tasks and makes data work harder for customers—so they can gain invaluable insights for their businesses. Commvault solutions work across cloud and on-premises environments, leveraging the digital tools and procedures already in use. Commvault software, solutions, and services are available from the company and through a global ecosystem of trusted partners. Commvault employs 2,300 highly skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States. Visit Commvault.com or follow us at @Commvault.
Safe Harbor Statement: Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
Tinton Falls, N.J. – January 27, 2021 – Commvault [NASDAQ: CVLT] today announced its financial results for the third quarter ended December 31, 2020.
“The strategic moves we made over the past two years are delivering results,” said Sanjay Mirchandani, President and CEO, Commvault. “We have simplified how we do business, dramatically improved our execution, and are innovating faster than ever.”
Total revenues for the third quarter of fiscal 2021 were $188.0 million, an increase of 7% year over year. Total recurring revenue was $140.0 million, an increase of 13% year over year.
Annualized recurring revenue (ARR), which is the annualized value of all active Commvault recurring revenue streams at the end of the reporting period, was $507.2 million as of December 31, 2020, up 11% from December 31, 2019.
Software and products revenue was $88.6 million, an increase of 16% year over year. The year over year increase in software and products revenue was driven by a 19% increase in revenue from larger deals (deals greater than $0.1 million in software and products revenue).
Larger deal revenue represented 68% of our software and products revenue in the three months ended December 31, 2020. The number of larger deal revenue transactions increased 3% year over year to 187 deals for the three months ended December 31, 2020. The average dollar amount of larger deal revenue transactions was approximately $322,000, representing a 15% increase from the prior year quarter.
Services revenue in the quarter was $99.4 million, flat year over year.
On a GAAP basis, income from operations (EBIT) was $2.7 million for the third quarter compared to a loss of $0.5 million in the prior year. Non-GAAP EBIT was $37.3 million in the quarter compared to $28.9 million in the prior year.
Operating cash flow totaled $17.0 million for the third quarter of fiscal 2021 compared to $0.9 million in the prior year quarter. Total cash and short-term investments were $388.4 million as of December 31, 2020 compared to $339.7 million as of March 31, 2020.
During the third quarter of fiscal 2021, Commvault repurchased 700,694 shares of its common stock totaling $33.1 million at an average price of approximately $47.28 per share. An update on our capital allocation policy will be provided on our investor day conference call.
A reconciliation of GAAP to non-GAAP results has been provided in Financial Statement Table IV included in this press release. (Download Financial Tables)
An explanation of these measures is also included below under the heading “Use of Non-GAAP Financial Measures.”
Use of Non-GAAP Financial Measures
Commvault has provided in this press release the following non-GAAP financial measures: non-GAAP income from operations, non-GAAP income from operations margin, non-GAAP net income, non-GAAP diluted earnings per share and annualized recurring revenue (ARR). This selected financial information has not been prepared in accordance with GAAP. Commvault uses these non-GAAP financial measures internally to understand, manage and evaluate its business and make operating decisions. In addition, Commvault believes these non-GAAP operating measures are useful to investors, when used as a supplement to GAAP financial measures, in evaluating Commvault’s ongoing operational performance. Commvault believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends, and in comparing its financial results with other companies in Commvault’s industry, many of which present similar non-GAAP financial measures to the investment community. Commvault has also provided software and products, services and total revenues on a constant currency basis. Commvault analyzes revenue growth on a constant currency basis in order to provide a comparable framework for assessing how the business performed excluding the effect of foreign currency fluctuations.
All of these non-GAAP financial measures should be considered as a supplement to, and not as a substitute for or superior to, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures, which are provided in Table IV included in this press release. (Download Financial Tables)
Non-GAAP income from operations and non-GAAP income from operations margin. These non-GAAP financial measures exclude noncash stock-based compensation charges and additional FICA and related payroll tax expense incurred by Commvault when employees exercise in the money stock options or vest in restricted stock awards as well as restructuring costs. In fiscal 2020, Commvault also excluded costs related to a non-routine shareholder matter. Commvault has also excluded the noncash amortization and impairment of intangible assets and certain costs related to key employees of Hedvig from its non-GAAP results. These expenses are further discussed in Table IV. Commvault believes that these non-GAAP financial measures are useful metrics for management and investors because they compare Commvault’s core operating results over multiple periods. When evaluating the performance of Commvault’s operating results and developing short- and long-term plans, Commvault does not consider such expenses.
Although noncash stock-based compensation and the additional FICA and related payroll tax expenses are necessary to attract and retain employees, Commvault places its primary emphasis on stockholder dilution as compared to the accounting charges related to such equity compensation plans. Commvault believes that providing non-GAAP financial measures that exclude noncash stock-based compensation expense and the additional FICA and related payroll tax expenses incurred on stock option exercises and vesting of restricted stock awards allow investors to make meaningful comparisons between Commvault’s operating results and those of other companies.
Amortization and impairment charges of intangible assets are noncash items. Commvault believes the exclusion of these expenses provide for a useful comparison of operating results to prior periods and to other companies.
There are a number of limitations related to the use of non-GAAP income from operations and non-GAAP income from operations margin. The most significant limitation is that these non-GAAP financial measures exclude certain operating costs, primarily related to noncash stock-based compensation, which is of a recurring nature. Noncash stock-based compensation has been, and will continue to be for the foreseeable future, a significant recurring expense in Commvault’s operating results. In addition, noncash stock-based compensation is an important part of Commvault’s employees’ compensation and can have a significant impact on their performance. Lastly, the components that Commvault excludes in its non-GAAP financial measures may differ from the components that its peer companies exclude when they report their non-GAAP financial measures.
Commvault’s management generally compensates for the limitations described above related to the use of non-GAAP financial measures by providing investors with a reconciliation of the non-GAAP financial measure to the most directly comparable GAAP financial measure. Further, Commvault management uses non-GAAP financial measures only in addition to, and in conjunction with, results presented in accordance with GAAP.
Non-GAAP net income and non-GAAP diluted earnings per share (EPS). In addition to the adjustments discussed in non-GAAP income from operations, non-GAAP net income and non-GAAP diluted EPS incorporates a non-GAAP effective tax rate of 27%.
Commvault anticipates that in any given period its non-GAAP tax rate may be either higher or lower than the GAAP tax rate as evidenced by historical fluctuations. The GAAP tax rates in recent fiscal years were not meaningful percentages due to the dollar amount of GAAP pre-tax income. For the same reason as the GAAP tax rates, the estimated cash tax rates in recent fiscal years are not meaningful percentages. Commvault defines its cash tax rate as the total amount of cash income taxes payable for the fiscal year divided by consolidated GAAP pre-tax income. Over time, Commvault believes its GAAP and cash tax rates will align.
Commvault considers non-GAAP net income and non-GAAP diluted EPS useful metrics for Commvault management and its investors for the same basic reasons that Commvault uses non-GAAP income from operations and non-GAAP income from operations margin. In addition, the same limitations as well as management actions to compensate for such limitations described above also apply to Commvault’s use of non-GAAP net income and non-GAAP EPS.
Conference Call Information
Commvault will host its FutureReady Investor Event today, January 27, 2021 at 11:00 a.m. Eastern Time (8:00 a.m. Pacific Time) to discuss quarterly results, its long-term vision and strategy and provide a multi-year business outlook. Investors can register and access the live webcast by visiting the event site on Commvault’s website. The meeting will include a slide presentation and participants are encouraged to view the presentation via webcast at the event site.
About Commvault
Commvault is the recognized leader in data backup and recovery. Commvault’s converged data management solution redefines what backup means for the progressive enterprise through solutions that protect, manage and use their most critical asset — their data. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,600 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States. To learn more about Commvault visit www.commvault.com
Safe Harbor Statement
This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions, outcome of litigation and others. For a discussion of these and other risks and uncertainties affecting Commvault’s business, see “Item IA. Risk Factors” in our annual report in Form 10-K and “Item 1A. Risk Factors” in our most recent quarter report in Form 10-Q. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
Kevin Komiega Commvault 978-834-6898 kkomiega@commvault.com
Michael J. Melnyk, CFA Commvault 732-870-4581 mmelnyk@commvault.com
Tinton Falls, N.J. – January 6, 2021 – Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, today announced the appointment of John Tavares as Vice President, Global Channel and Alliances.
In his new role, Tavares will be responsible for overseeing the growth of Commvault’s Global Partner Organization and strengthening the company’s relationships with partners worldwide. Tavares joins Commvault from Dell EMC, where he worked in a variety of sales leadership roles, first for EMC and continuing through the merger with Dell, for the last 25 years. During his tenure with Dell EMC, Tavares grew the company’s datacenter business encompassing software, hardware, and services, built a world-class sales team, and increased revenue year-over-year.
“I am excited to bring my long-standing sales expertise to Commvault and aid the company in continuing to grow its reputation for providing trusted enterprise-grade data management solutions across the global channel,“ said Tavares. “The Global Partner Organization has done some amazing things, especially during such uncertain times this past year. I look forward to building on this momentum and creating long-lasting partnerships that will truly benefit our customers.”
With this change, Commvault’s former Vice President of the Global Partner Organization, Mercer Rowe, will be taking on the role of Area Vice President and General Manager Commvault Systems Japan. He will be focused on growing Metallic, Commvault’s SaaS division, in the region and further strengthening Commvault’s presence in Asia Pacific.
“John is joining Commvault at the perfect time – bringing his wealth of valuable expertise to the Global Partner Organization and serving as a barometer of what we can expect in this next fiscal year,” said Riccardo Di Blasio, Chief Revenue Officer, Commvault. “With John as the head of our GPO, working closely with our regional leadership, I am confident that our partnership opportunities will flourish, reaching new audiences and increasing productivity.”
About Commvault
Commvault is a worldwide leader in delivering data readiness, enabling customers to intelligently manage data with solutions that store, protect, optimize and use data. Commvault software automates mind-numbing IT tasks and makes data work harder for customers— so they can gain invaluable insights for their businesses. Commvault solutions work across cloud and on-premises environments, leveraging the digital tools and procedures already in use. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,300 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States. Visit Commvault.com or follow us at @Commvault.
Safe Harbor Statement: Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
Miranda Foster Commvault 646-370-9785 mfoster@commvault.com
Michael J. Melnyk, CFA Commvault 732-870-4581 mmelnyk@commvault.com
Tinton Falls, N.J. – January 6, 2021 – Commvault (NASDAQ: CVLT) – Commvault will release the Company’s financial results for its fiscal third quarter ended December 31, 2020, on Wednesday, January 27, 2021 before the market opens. An earnings letter discussing the financial results and quarterly highlights will be posted at https://ir.commvault.com.
The FutureReady Investor Event will begin at 11:00 a.m. Eastern Time (8:00 a.m. Pacific Time) to discuss quarterly results, our long-term vision and strategy and provide a multi-year business outlook. Investors can register and access the live webcast by visiting the event site. The meeting will include a slide presentation and participants are encouraged to view the presentation via webcast at the event site.
An archived webcast of this event will also be available following its conclusion at https://ir.commvault.com.
Commvault is the recognized leader in data backup and recovery. Commvault’s converged data management solution redefines what backup means for the progressive enterprise through solutions that protect, manage and use their most critical asset — their data. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,600 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States. To learn more about Commvault visit commvault.com
Safe Harbor Statement: Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
New updates enhance ransomware protection and business continuity capabilities
Tinton Falls, N.J. – December 2, 2020 – Commvault (NASDAQ: CVLT), a recognized global leader in the management of data across cloud and on-premises environments, today announced enhanced capabilities for its Commvault® Disaster Recovery solution. Commvault Disaster Recovery now supports recovery automation with continuous replication for VMware workloads. Additionally, Commvault Disaster Recovery supports orchestration to, from and between on-premises, Microsoft Azure and Amazon Web Services (AWS).
Commvault Disaster Recovery offers easy-to-use, scalable replication and disaster recovery automation through a single extensible platform with an intuitive user interface. Automated failover and failback provide verifiable recoverability, along with comprehensive reporting for both monitoring and compliance. It also enables robust continuous data replication with fully automated disaster recovery capabilities, capable of both sub-minute Recovery Point Objectives (RPOs), along with near-zero Recovery Time Objectives (RTOs).
“We’ve been impressed by Commvault Disaster Recovery from day one,” said Steven Hannah, Backup Recovery/Storage Solutions Architect, Meridian IT. “The flexible recovery automation functionality paired with the simplicity of Commvault Command Center puts effective, near-real-time disaster recovery right at the customer’s fingertips. This addition of support for Microsoft Azure and Amazon Web Services as a Disaster Recovery target for VMware workloads is a natural and compelling evolution of the product.”
With this announcement, Commvault now has disaster recovery automation for Microsoft Azure and AWS within zones or across regions, along with simple cross-cloud migration support. Commvault continues to support multiple clouds to give customers the choice and flexibility needed to meet today’s ever-changing Disaster Recovery requirements across locations and workloads using a single solution.
“We’re seeing some exciting developments in the world of disaster recovery, and Commvault Disaster Recovery’s multiple cloud targets and speedy cross-cloud conversions make it extremely compelling,” said Christophe Bertrand, Senior Analyst, ESG. “With everything going on in the world today, a true disaster could be right around the corner for any company. It’s critical to have enterprise multi-cloud tools in place to mitigate data loss and automate recovery operations immediately.”
Additional use cases supported by these enhancements to Commvault Disaster Recovery include cloud migration, seamless integration with storage replication, ransomware protection, smart app validation in sandbox, instant mounts for DevOps with data masking, and much more.
“Business continuity, in the event of ransomware attacks or site disasters, are top of mind for all businesses,” said Rahul Pawar, Vice President, Product Management, Commvault. “The new additions to Commvault Disaster Recovery mark a big step forward in ensuring reliable recovery for our customers, while taking full advantage of the agility and flexibility of public clouds.”
About Commvault Commvault is a worldwide leader in delivering data readiness, enabling customers to intelligently manage data with solutions that store, protect, optimize and use data. Commvault software automates mind-numbing IT tasks and makes data work harder for customers — so they can gain invaluable insights for their businesses. Commvault solutions work across cloud and on-premises environments, leveraging the digital tools and procedures already in use. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,300 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States.
Safe Harbor Statement
Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
Tinton Falls, N.J. – November 19, 2020 – Today Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, announced that GigaOm has named the company an “outperformer” in its most recent report, “GigaOm Radar for Kubernetes Data Protection.” The report takes a comprehensive view of the data protection for Kubernetes market, as businesses are accelerating their hybrid cloud journey with enterprise adoption of containers.
This report recognizes the simplicity with which customers can store, protect and migrate containers in hybrid and multi-cloud environments with Commvault’s Hedvig Distributed Storage Platform and Commvault Complete Data Protection, citing Commvault’s strengths as “an easy-to-use and familiar environment to operate, helping the user to consolidate all backup operations on a single platform.”
Earlier this week, Commvault further simplified data protection for Kubernetes with its new Metallic VM and Kubernetes Backup, a cloud-delivered BaaS solution to protect Kubernetes applications.
“Commvault is demonstrating a strong commitment to Kubernetes and its operational models while continuing its robust support for traditional platforms and operations. And with the new Metallic additions this week, Commvault can now deliver the simplicity of SaaS in protecting Kubernetes applications, on-prem or in the cloud. At the end of the day, Commvault is a market leader for enterprise data protection,” said Enrico Signoretti, Research Analyst, GigaOm.
“We’re thrilled that Commvault has been recognized as an ‘outperformer’ in data protection for Kubernetes,” said Manoj Nair, General Manager, Metallic. “With our newly introduced Metallic VM and Kubernetes Backup, we have further transformed data protection for Kubernetes so our customers now have the easy button to protect their Kubernetes applications, while accelerating DevOps agility.”
About Commvault Commvault is a worldwide leader in delivering data readiness, enabling customers to intelligently manage data with solutions that store, protect, optimize and use data. Commvault software automates mind-numbing IT tasks and makes data work harder for customers— so they can gain invaluable insights for their businesses. Commvault solutions work across cloud and on-premises environments, leveraging the digital tools and procedures already in use. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,300 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States.
About Metallic™
Metallic, A Commvault venture, was established to bring next-generation software-as-a-service (SaaS) data protection to the market, delivering Commvault’s powerful core technology simply through the cloud. Together with its partners, Metallic offers a growing portfolio of SaaS backup and recovery solutions to help today’s companies keep their data protected, compliant and safe from deletion, corruption and attack. Metallic operates as a division of Commvault.
Safe Harbor Statement
Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
New Metallic VM & Kubernetes backup solution broadens Commvault’s comprehensive container storage and protection portfolio
Tinton Falls, NJ – November 17, 2020 – Today Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, announced new offerings that provide customers enterprise-grade data protection for Kubernetes, in a consumption model that best meets their needs. The new Metallic VM & Kubernetes Backup solution joins Commvault’s Hedvig Distributed Storage Platform and Commvault Complete Data Protection to store, protect and migrate containers in hybrid and multi-cloud environments. With a comprehensive and robust portfolio of solutions for containers data protection, Commvault is offering customers choice in how they address challenges associated with container storage and protection.
Kubernetes-based containers provide IT organizations the flexibility to deploy, scale and migrate workloads without end-user interruption. Metallic’s new BaaS-based platform further simplifies protection for containers – fully integrated with K8s via the Container Storage Interface (CSI). Additionally, any customer who purchases at least 10 VMs within the Metallic VM & Kubernetes Backup product by May 18, 2021, will receive the Kubernetes Backup component free of charge for the lifetime of their subscription (further terms and details can be found on our website). This follows a stream of innovative capabilities introduced by Commvault for Kubernetes in the past few months.
“I love how Commvault have brought their ‘A-game’ to containers and Kubernetes. They way they’ve integrated their enterprise-grade Hedvig Distributed Storage Platform with Kubernetes is as slick as it comes, and they’ve followed that up with Metallic’s cloud-native model for Kubernetes data protection. All in all, Commvault has made it possible to deploy and protect enterprise applications on Kubernetes, be it on-prem, in the cloud, or delivered through SaaS,” said Nigel Poulton, Author and Market Commentator.
New Metallic BaaS for Containers
Newly available today, Metallic VM & Kubernetes Backup provides simple and scalable SaaS data protection for containers and is part of Metallic’s new hybrid cloud data protection portfolio, which doubles Commvault’s portfolio of unique BaaS solutions. Unlike solutions that require point products or third-party tools to back up and protect cloud, container, and virtual workloads, Metallic offers a single solution to quickly and easily protect customers’ modern, hybrid cloud workloads with the simplicity of BaaS. Protected workloads include any CNCF-Certified Kubernetes distribution with validated support for Red Hat OpenShift Kubernetes, Azure Red Hat OpenShift, Azure Kubernetes Service (AKS), Amazon Elastic Kubernetes Service (EKS), and VMware Tanzu. This is in addition to Metallic’s comprehensive support for Virtual Machine environments, including Hyper-V, VMware vSphere, Native Azure Virtual Machines, Azure VMware Solution (AVS), and VMware Cloud (VMC) on AWS.
Today’s cloud strategies include hybrid workloads that span customers’ IT infrastructure, with some workloads running in the cloud and others running on-premises. Customers need a solution that protects Kubernetes applications, along with the rest of their enterprise workloads to eliminate expensive data silos and point product complexity.
“Containers have become a strategic asset—and strong container platform strategies and services are required for success. Like the cloud, container adoption is accelerating, and with that comes the need for enterprise-grade services that treat containers like any other business-critical data. We are seeing an increasingly large number of new cloud native data protection and data management solutions that are all very containers-specific, but in the enterprise they are just starting to merge; having a story that bridges all of it is very compelling. That is what I’ve seen Commvault bring that no one else does,” said Steve McDowell, Senior Analyst & Strategist, Storage & Data Center Technologies, Moor Insights & Strategies.
Commvault Software-Defined Storage for Containers
Recent enhancements in Commvault’s Hedvig Distributed Storage Platform provide customers the flexibility to develop and run new modern applications with declarative data placement, encryption, and data protection in any Kubernetes environment. It also offers the ability to seamlessly store, protect, and migrate containers across hybrid multi-cloud environments to speed the DevOps process and remove any cloud-managed or self-managed Kubernetes service barriers.
Coupled with its broad integration for on-premises infrastructure, cloud storage, and container orchestrators, the Hedvig Distributed Storage Platform provides native Kubernetes integration, offering a comprehensive solution capable of managing data, regardless of where it lives across containers, cloud native applications, and virtualized workloads.
“Enterprise adoption of containers is rapidly increasing — and containers need to be protected while keeping pace with DevOps teams,” said Ranga Rajagopalan, VP of Products at Commvault. “As containers move from sandbox to production, it is no longer possible to treat containers as an island in the cloud. Today, through these offerings, we’re making it simple to protect containers — together with all the other applications in the enterprise.”
About Commvault Commvault is a worldwide leader in delivering data readiness, enabling customers to intelligently manage data with solutions that store, protect, optimize and use data. Commvault software automates mind-numbing IT tasks and makes data work harder for customers— so they can gain invaluable insights for their businesses. Commvault solutions work across cloud and on-premises environments, leveraging the digital tools and procedures already in use. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,300 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States. Follow us at @Commvault.
About Metallic™
Metallic, A Commvault venture, was established to bring next-generation software-as-a-service (SaaS) data protection to the market, delivering Commvault’s powerful core technology simply through the cloud. Together with its partners, Metallic offers a growing portfolio of SaaS backup and recovery solutions to help today’s companies keep their data protected, compliant and safe from deletion, corruption and attack. Metallic operates as a division of Commvault.
Safe Harbor Statement
Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
Company also named finalist for Metallic Backup & Recovery Solution
Tinton Falls, N.J. – November 12, 2020 – Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, today announced that CRN®, a brand of The Channel Company, has presented the company with a 2020 CRN Tech Innovator Award. Commvault was recognized for its new Commvault HyperScale X solution, which claimed top honors in the Data Management category, as well as its Metallic Backup & Recovery solution, which was named a finalist in the Cloud Data Protection/Disaster Recovery category.
This annual award program honors innovative vendors in the IT channel across 49 technology categories, in key areas ranging from cloud to security to storage to networking. CRN editors assessed hundreds of vendor products along multiple criteria, including uniqueness, key capabilities, technological competency, and addressing customer needs.
HyperScale X, the latest generation of Commvault’s integrated scale-out data management solutions, utilizes software-defined storage technology from Hedvig, which Commvault acquired in 2019. HyperScale X features major functionality improvements over previous versions of HyperScale, delivering companies an intuitive and easy to deploy scale-out appliance with unmatched scalability, security, and resiliency.
“CRN’s Tech Innovator Awards celebrate technology vendors that empower end users and promote business growth for solution providers with pioneering, purpose-built solutions,” said Blaine Raddon, CEO of The Channel Company. “Congratulations to each of this year’s CRN Tech Innovator Award winners! We are honored to recognize these best-in-class vendors that are powering IT transformation and innovation.”
“We are thrilled for HyperScale X to be named a leading data management solution by CRN,” said Mercer Rowe, Vice President, Global Partner Organization, Commvault. “With this solution, our partners gain a powerful tool to support customers’ needs to accelerate their digital transformation journey. Hyperscale X is an intuitive, easy to deploy appliance that offers customers unmatched scalability, security and resiliency as they move to hybrid cloud, container, and virtualized environments. Delivering a modern architecture, including software-defined storage technology, artificial intelligence and machine learning, HyperScale X allows customers to get up and running quickly and grow as their needs demand, all while keeping their data secure and available.”
“Commvault HyperScale X is the scale-out data protection appliance our customers need, especially as their data resides in a lot of places and requires protection, which can be hard in rapidly growing organizations with evolving IT demands,” said Murray Granger, EVP of Sales at Veristor Systems Inc. “HyperScale X easily solves that problem, offering optimized scalability to grow on-premises and in the cloud, along with trusted security and resiliency, including built-in ransomware protection. Ransomware is and continues to be a huge threat to all companies, and the fact that it’s top of mind for Commvault’s portfolio is a key part of why our customers love Commvault. HyperScale X is a compelling offering in a crowded market, and we’re excited to be a Commvault partner.”
Commvault is a worldwide leader in delivering data readiness, enabling customers to intelligently manage data with solutions that store, protect, optimize and use data. Commvault software automates mind-numbing IT tasks and makes data work harder for customers— so they can gain invaluable insights for their businesses. Commvault solutions work across cloud and on-premises environments, leveraging the digital tools and procedures already in use. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,300 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States.
About Metallic
Metallic™, A Commvault venture, was established to bring next-generation software-as-a-service (SaaS) data protection to the market, delivering Commvault’s powerful core technology simply through the cloud. Together with its partners, Metallic offers a growing portfolio of SaaS backup and recovery solutions to help today’s companies keep their data protected, compliant and safe from deletion, corruption and attack. Metallic operates as a division of Commvault.
About The Channel Company
The Channel Company enables breakthrough IT channel performance with our dominant media, engaging events, expert consulting and education, and innovative marketing services and platforms. As the channel catalyst, we connect and empower technology suppliers, solution providers and end users. Backed by more than 30 years of unequalled channel experience, we draw from our deep knowledge to envision innovative new solutions for ever-evolving challenges in the technology marketplace.
Safe Harbor Statement
Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
Metallic’s portfolio of cloud solutions bring secure, scalable, compliant and cost-effective enterprise-ready data management to european customers
Tinton Falls, N.J. – October 28, 2020 – Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, today announced its award-winning Metallic Backup-as-a-Service (BaaS) solutions are now available across the EMEA region. Metallic’s enterprise-grade offerings including Metallic™ Office 365 Backup & Recovery Metallic™ Endpoint Backup & Recovery and Metallic™ Core Backup & Recovery, are now available in the United Kingdom, Belgium, Denmark, Finland, Ireland, Israel, Italy, Luxembourg, the Netherlands and Sweden. With this expanded availability, customers in these regions are now better able to seamlessly address growing business concerns around cost, scalability, and security as they protect critical data.
More related posts
Commvault Encourages Organizations to Adopt a Four-Step Approach to Resilience in the Age of Frontier AI
