Commvault Expects Q4 Revenue of $210M-$214M Vs $210.18 Est, FY24 Revenue of $826M-$830M Vs $817.34M Est

CommVault Systems, Inc. +0.46%

CommVault Systems, Inc.

CVLT

111.24

+0.46%

Financial Outlook for Fourth Quarter and Full Year Fiscal 2024 -

We are providing the following guidance for the fourth quarter of fiscal year 2024:

  • Total revenues are expected to be between $210 million and $214 million
  • Subscription revenue is expected to be between $111 million and $115 million
  • Non-GAAP operating margin2 is expected to be between 20% to 21%

We are providing the following updated guidance for the full fiscal year 2024:

  • Total revenues are expected to be between $826 million and $830 million
  • Total ARR1 is expected to grow 15% year over year
  • Subscription revenue is expected to be between $420 million and $424 million
  • Subscription ARR1 is expected to grow 25% year over year
  • Non-GAAP operating margin2 is expected to grow between 50 to 100 basis points year over year
  • Free cash flow2 is expected to be approximately $170 million
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