CVLT reports $1.42 non-GAAP EPS and $314.13M revenue, exceeding expectations as subscription revenue jumps 16% year-over-year.
CommVault Systems reported first-quarter non-GAAP earnings per share of $1.42, surpassing estimates by $0.26, while revenue reached $314.13 million, beating forecasts by $3.69 million. The results were driven by a 16% year-over-year increase in subscription revenue, which hit a record $267 million.
Subscription annualized recurring revenue (ARR) climbed to $1,054, reflecting strong demand for the company’s cloud and data management solutions. Revenue grew 11.4% compared to the same period last year, supported by higher recurring revenue streams.
The company did not disclose immediate market reaction, but the earnings beat may bolster investor confidence in its growth trajectory.