Commvault Announces Fiscal 2024 Fourth Quarter Financial Results
Commvault News, Tuesday, April 30th, 2024
Commvault [Nasdaq: CVLT] announced its financial results for the fourth quarter and fiscal year ended March 31, 2024.
Fiscal 2024 Fourth Quarter Highlights -
- Total revenues were $223.3 million, up 10% year over year
- Subscription revenue was $119.9 million, up 27% year over year
- Income from operations (EBIT) was $18.2 million, an operating margin of 8.1%
- Non-GAAP EBIT1 was $45.2 million, an operating margin of 20.2%
- Operating cash flow was $80.0 million, with free cash flow1 of $79.1 million
- Fourth quarter share repurchases were $50.4 million, or approximately 547,000 shares of common stock
'We had an outstanding quarter and a breakout year, highlighted by 10% total revenue growth and 15% total ARR growth in the fourth quarter,' said Sanjay Mirchandani, President and CEO. 'Our Commvault Cloud platform is resonating with customers, who entrust us with their data and resilience in this era of unrelenting cyber threats.'