Commvault [Nasdaq: CVLT] today announced its financial results for the fiscal
first quarter ended June 30, 2025.
“Commvault delivered a strong start to the fiscal year, fueled by customer growth, disciplined execution, and rising
demand for our industry-leading cyber resilience platform,” said Sanjay Mirchandani, President and CEO,
Commvault. “With a best-in-class partner ecosystem and continuous innovation that we believe sets us apart, we
are well-positioned to continue to take share in fiscal 2026 and beyond.”
Notes are contained at the end of this Press Release

First Quarter Fiscal 2026 Highlights – • Total revenues were $282 million, up 26% year over year

• Total ARR1

grew to $996 million, up 24% year over year, or 21% on a constant currency basis using March
31, 2025 spot rates

• Subscription revenue was $182 million, up 46% year over year, inclusive of term-based license revenue of
  $109 million, up 36% year over year, and SaaS revenue of $72 million, up 66% year over year
• Subscription ARR1

grew to $844 million, up 33% year over year, or 30% on a constant currency basis using

March 31, 2025 spot rates

• Income from operations (EBIT) was $25 million, an operating margin of 8.9%
• Non-GAAP EBIT2

was $58 million, an operating margin of 20.7%

• Operating cash flow was $32 million, with free cash flow2

of $30 million

Recent Business Highlights – • For the 14th time in a row, Commvault has been named a Leader in the Gartner® Magic QuadrantTM for
Backup and Data Protection Platforms.

• Commvault announced enhancements to its post quantum computing capabilities, designed to help
  customers protect their highly sensitive, long-term data from a new generation of cyber threats.
• Commvault continues to drive value for our global customers through strategic partnerships that enhance
  incident response capabilities, cyber resilience, and more. In Q1, Commvault announced enhanced
  partnerships with CrowdStrike, Deloitte, HPE, and Kyndryl.
• Commvault Cloud achieved GovRAMP Authorized status for its cyber resilience SaaS solutions at the state
  level, complementing its unique FedRAMP High authorization at the federal level.

2

Financial Outlook for Second Quarter and Full Year Fiscal 20263

We are providing the following guidance for the second quarter of fiscal year 2026, based on current macroeconomic
conditions:

• Total revenues are expected to be between $272 million and $274 million
• Subscription revenue is expected to be between $174 million and $176 million
• Non-GAAP gross margin2

is expected to be between 81% and 82%

• Non-GAAP EBIT margin2

is expected to be approximately 20%

We are providing the following updated guidance for the full fiscal year 2026, based on current macroeconomic
conditions:

• Total revenues are expected to be between $1,161 million and $1,165 million
• Total ARR1

is expected to grow 18% year over year

• Subscription revenue is expected to be between $753 million and $757 million
• Subscription ARR1

is expected to grow 24% year over year

• Non-GAAP gross margin2

is expected to be between 81% and 82%

• Non-GAAP EBIT margin2

is expected to be approximately 20.5%

• Free cash flow2

is expected to be between $210 million and $215 million

The above statements are based on the incorporation of actual first quarter results, current targets and the acquisition

of Satori Cyber, Ltd., which is expected to close in the second quarter of fiscal 2026. These statements are forward-
looking and made pursuant to the safe harbor provisions discussed in detail below. We do not undertake any

obligation to update these forward-looking statements. Actual results may differ materially from anticipated results.