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Commvault reports solid annual financial growth

Commvault reports solid annual financial growth

Big channel data management and backup player Commvault has reported solid growth for the year.

For the 12 months ending 31 March, 2024, total revenues were $839.2m, up 7% year-over-year.

Total ARR grew to $770m, up 15% in a year. Subscription revenue was $429.2m, up 23%.

Income from operations was $75.4m, an operating margin of 9%.

"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."

The vendor is providing guidance for the next full fiscal year: total revenues of between $904m and $914m, and ARR growth of 14%.

According to analyst house IDC, in the crowded global data replication and protection market, Veeam has a 13.1% market share, followed by Dell Technologies on 11.9%. Next up is Veritas on 8.8%, and IBM with 8.3%. Completing the top five is Commvault with 6.4%.