Commvault Systems, Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year Fiscal 2024
January 30, 2024 at 07:47 am
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Commvault Systems, Inc. provided earnings guidance for the fourth quarter and full year fiscal 2024. For the quarter, the company expects total revenues to be between $210 million and $214 million and subscription revenue is expected to be between $111 million and $115 million.
For the full year, the company expects total revenues to be between $826 million and $830 million; total ARR is expected to grow 15% year over year and subscription revenue to be between $420 million and $424 million.
Commvault Systems, Inc. is a data management company. The Company offers cyber resilience platform that combines the data security and rapid recovery at enterprise scale across any workload. The Company provide these products and services for their data across many types of environments, including on-premises, hybrid and multi-cloud. Its offerings are delivered via self-managed software, software-as-a-service (SaaS), integrated appliances, or managed by partners. The Companyâs Commvault Cloud offerings are organized in three packages, such as Operational Recovery, Autonomous Recovery and Cyber Recovery. Its Operational Recovery provides backup, verifiable recovery, and cost-optimized cloud workload mobility, helping to ensure data availability and granular recovery, even across multiple clouds all managed with Commvaultâs Command Center. In addition, the Company provides customers with a range of offerings, including Cleanroom Recovery, HyperScale X, Air Gap Protect and Compliance.