Commvault Systems, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
January 30, 2024 at 07:45 am EST
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Commvault Systems, Inc. reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported revenue was USD 216.81 million compared to USD 195.07 million a year ago. Net income was USD 17.14 million compared to net loss of USD 0.31 million a year ago. Basic earnings per share from continuing operations was USD 0.39 compared to basic loss per share from continuing operations of USD 0.01 a year ago. Diluted earnings per share from continuing operations was USD 0.38 compared to diluted loss per share from continuing operations of USD 0.01 a year ago.
For the nine months, revenue was USD 615.96 million compared to USD 581.11 million a year ago. Net income was USD 42.79 million compared to USD 7.72 million a year ago. Basic earnings per share from continuing operations was USD 0.97 compared to USD 0.17 a year ago. Diluted earnings per share from continuing operations was USD 0.95 compared to USD 0.17 a year ago.
Commvault Systems, Inc. is a data management company. The Company provides a unified Data Management Platform that spans all the users' data regardless of where it lives (on-premises, hybrid, or multi-cloud) or how it is structured (legacy applications, databases, virtual machines (VMs), or containers). It offers solutions through all combinations of software subscriptions, integrated appliances, partner-managed, or Software as a Service (SaaS) via its Metallic portfolio. The Company's offerings are organized into four categories: Data Recovery, Data Compliance and Governance, Data Storage, and Data Security. Its Commvault Backup and Recovery (CBR) provides backup, verifiable recovery and cost-optimized cloud workload mobility, helping to ensure data availability, even across multiple clouds. Commvault Disaster Recovery (CDR) provides a replication and disaster recovery solution from a single extensible platform, which is managed through the Command Center.