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Commvault Systems (CVLT) investor relations material
Commvault Systems Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary27 Jan, 2026
Executive summary
Q3 FY26 delivered record total revenue of $314 million, up 19% year-over-year, driven by strong subscription and SaaS growth, and record customer acquisition.
Annualized recurring revenue (ARR) reached $1,085 million, up 22% year-over-year, with subscription ARR at $941 million (+28%) and SaaS ARR at $364 million (+40%).
The company achieved the Rule of 40, balancing growth and profitability, and continued innovation with the launch of the Commvault Cloud Unity Platform and strategic partnerships.
Net income for the quarter was $18 million, up from $11 million in the prior year, and the subscription customer base expanded 23% year-over-year to 14,100.
Completed the acquisition of Satori Cyber, Ltd. for $28.3 million to enhance data security and AI governance.
Financial highlights
Subscription revenue grew 30% year-over-year to $206 million, SaaS revenue up 44%, and term-based license revenue up 22% to $119 million.
Non-GAAP EBIT was $61 million (19.6% margin); GAAP EBIT was $20 million (6.3% margin).
Gross margin improved to 81.5% non-GAAP, with GAAP gross margin at 81.1%.
Free cash flow for Q3 was $2 million, impacted by late-quarter deal closings and an extra payroll cycle; year-to-date free cash flow reached $105 million.
Cash and cash equivalents totaled $1,026 million as of December 31, 2025, primarily due to convertible notes issuance.
Outlook and guidance
Q4 FY26 revenue expected between $305–$308 million; subscription revenue $203–$207 million.
Full-year FY26 revenue guidance raised to $1,177–$1,180 million (18% growth at midpoint); subscription ARR expected to grow ~24% year-over-year.
Non-GAAP gross margin expected at 81–81.5% and non-GAAP EBIT margin at 19–20% for FY26.
Free cash flow for FY26 expected at $215–$220 million, including $12–$15 million in one-time cost optimization payments.
Approximately 60% of remaining performance obligations ($969 million) are expected to be recognized as revenue over the next 12 months.
Restructuring plan's FY27 FCF impact?
What drives the 121% SaaS NRR?
How do AI partnerships drive future revenue?
SaaS NRR decline: What are the key factors?
Unity platform: How will it streamline sales?
Cost optimization: What is its strategic goal?
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Next Commvault Systems earnings date
Q4 202628 Apr, 2026
Commvault Systems
Next Commvault Systems earnings date
Q4 202628 Apr, 2026
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Frequently asked questions
Commvault Systems Inc provides data protection and information management software for enterprise customers. Its solutions include backup and recovery, cloud data management, disaster recovery, and data security across on-premises and cloud environments. The company serves clients in healthcare, financial services, government, and other sectors. The company is headquartered in Tinton Falls, New Jersey, and its shares are listed on the NASDAQ.
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