Commvault Systems, Inc

Commvault Systems, Inc. develops cyber resiliency software and services that help organizations protect, detect, and recover data and cloud-native applications after cyberattacks, including ransomware. The company sells across on-premises, hybrid, and multi-cloud environments through self-managed software, SaaS, integrated appliances, and partner-managed deployments. Its Commvault Cloud platform is organized around operational recovery, autonomous recovery, and cyber recovery use cases. Founded in 1996 and incorporated in Delaware, Commvault has built its business around recurring subscription revenue and a broad channel ecosystem.

7,1 %

81,2 %

6,0 %

+18,9 %

1.95

1.95

— Commvault Systems, Inc
%
Subscription software65% Term-based software licenses and SaaS offerings used to protect and recover enterprise data and applications.
Customer support25% Support contracts tied to perpetual and term-based license arrangements.
Perpetual licenses6% Legacy software licenses sold in selected verticals and geographies.
Other services4% Professional services, implementation, education, and managed services supporting deployment and operations.

Commvault sells to thousands of organizations ranging from large global enterprises to small and mid-sized businesses...

  • Large enterprise customersprimary

    Buy Commvault Cloud, term licenses, and support to protect complex hybrid estates and recover quickly from cyber incidents.

  • Government agenciessecondary

    Use the platform for secure backup, compliance, and recovery continuity in budget-constrained public-sector environments.

  • Regulated industriesprimary

    Banks, insurers, healthcare, and pharma buy cyber resiliency tools to meet data protection, governance, and recovery requirements.

  • Mid-market businessessecondary

    Adopt SaaS and subscription offerings to simplify data protection without building large internal infrastructure teams.

  • Channel and cloud marketplace buyerssecondary

    Partners and marketplace customers purchase or transact the software to speed procurement and deployment.

Commvault reports revenue on an Americas and International basis rather than by individual country...

  • Americas accounted for 61% of fiscal 2025 revenue
  • International accounted for 39% of fiscal 2025 revenue
  • International includes Europe, Middle East, Africa, Australia, India, Southeast Asia, and China
  • India is an important operating location for talent and international support
  • Cloud marketplaces extend reach through AWS, Google, Microsoft, and Oracle
  • Foreign exchange movements affect International revenue and margins

Commvault’s strategy is centered on shifting customers toward recurring subscription revenue, especially SaaS and...

01
Grow subscription and SaaS mixshort-term

Recurring revenue improves visibility and aligns the business with customer preference for cloud-delivered consumption.

02
Scale partner-led distributionmedium-term

Indirect channels already generate most subscription revenue and extend reach without proportional direct-sales expansion.

03
Strengthen cyber ecosystem integrationsmedium-term

Tighter links with security and AI vendors make the platform more relevant in incident response and recovery workflows.

Commvault operates in a highly competitive and fragmented market where larger vendors can bundle adjacent products and...

critical

Cybersecurity incident or cloud environment compromise

The business depends on trust in its own security posture and platform reliability; a breach can disrupt operations and damage customer confidence.

Scope
Azure environment, SaaS platform, customer support operations
Materiality
high
high

Competitive pressure from Cohesity, Druva, Rubrik, and Veeam

Competitors may offer broader bundles, stronger pricing, or larger installed bases, which can reduce win rates and pricing power.

Scope
Core data protection and cyber resiliency software
Materiality
high
high

Channel execution risk

Most subscription revenue is generated indirectly, so partner underperformance can materially affect pipeline conversion and revenue timing.

Scope
Resellers, systems integrators, OEMs, marketplaces
Materiality
high
medium

Foreign exchange volatility

International revenue and operating costs are exposed to currency movements, which can affect reported growth and margins.

Scope
International region
Materiality
medium
medium

Government spending and procurement delays

Public-sector customers can face budget constraints and shifting priorities, delaying contract awards or renewals.

Scope
Government agencies
Materiality
medium
Revenue recognition across multiple contract types
Can shift reported revenue between periods and affect mix analysis
Goodwill and purchased intangible assets
Potential non-cash impairment expense
Income taxes
Affects earnings quality and comparability
Foreign currency transaction gains and losses
Adds volatility to general and administrative expense

: 11/08/2026