The strong beat, SaaS revenue acceleration, and raised guidance confirm accelerating cloud adoption. The Microsoft Azure partnership opens a large distribution channel. Monitor Q2 subscription revenue guidance ($264M-$268M) for sequential trends; the raised full-year FCF guidance ($250M-$260M) supports continued capital return.
Price Chart
Executive Summary
Commvault reported Q1 FY2027 results with non-GAAP EPS of $1.42, a 22.2% beat vs. $1.16 consensus, and revenue of $314.1M, slightly above the $310.4M estimate. Subscription revenue grew 16% YoY to a record $267M, SaaS revenue crossed $100M (+39% YoY), and Subscription ARR reached $1.054B (+22% YoY). The company raised its full-year FY2027 guidance for subscription revenue, EBIT margin, and free cash flow, while announcing a multi-year strategic partnership with Microsoft Azure. The strong beat, accelerating SaaS metrics, and raised guidance signal accelerating cloud adoption and durable growth, reinforcing a bullish outlook.
Key Financial Metrics
Key Facts
- Non-GAAP EPS of $1.42 beat consensus of $1.16 by 22.2%
- Revenue of $314.1M beat consensus of $310.4M, up 11% YoY
- Subscription revenue hit a record $267M, up 16% YoY
- SaaS revenue crossed $100M for the first time, up 39% YoY
- Subscription ARR grew to $1.054B, up 22% YoY
- Free cash flow was $51M, up 71% YoY
- Raised full-year FY2027 guidance: subscription revenue to $1.119B-$1.129B, EBIT margin ~21%, FCF $250M-$260M
- Announced multi-year strategic partnership with Microsoft to offer solutions on Azure
Financial Impact
Non-GAAP EPS beat by $0.26 (22.2%) on $314.1M revenue; raised FY2027 subscription revenue guidance by ~$4M midpoint to $1.124B
Risk Factors
- Guidance assumes current macroeconomic conditions and exchange rates, which could shift
- Restructuring charges ($2.4M) and non-recurring pricing initiative costs ($6.5M) add noise to GAAP results
- Subscription NRR declined to 114% from 122% in Q4, indicating potential deceleration in net expansion
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001169561-26-000020 |
| Document: cvlt-20260728.htm | 0001169561-26-000020 |
| Document: 0001169561-26-000020-index-headers.html | 0001169561-26-000020 |
| Document: 0001169561-26-000020-index.html | 0001169561-26-000020 |
| Document: 0001169561-26-000020.txt | 0001169561-26-000020 |
| 8-K Data (Synthetic) | 0001169561-26-000020 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 20d ago | Press Release | $154.98 | awaiting T+60 | — | $167.73 (+8.23%) |
Sep 24, 2026 4w ago | 8-K | $150.00 | awaiting T+60 | — | $167.73 (+11.82%) |
Aug 19, 2026 9w ago | Insider Cluster | $131.63 | awaiting T+60 | — | $167.73 (+27.43%) |
Aug 12, 2026 10w ago | Insider Cluster | $151.10 | awaiting T+60 | — | $167.73 (+11.01%) |
Aug 10, 2026 10w ago | Insider Cluster | $139.43 | awaiting T+60 | — | $167.73 (+20.30%) |
Jul 28, 2026 12w ago | 8-K | $120.02 $163.55 | ▲ +36.26% | ▲ +31.91% | $167.73 (+39.75%) |
May 21, 2026 22w ago | Insider Cluster | $107.25 $142.81 | ▲ +33.16% | ▲ +29.97% | $167.73 (+56.39%) |
May 21, 2026 22w ago | Insider Cluster | $107.25 $142.81 | ▲ +33.16% | ▲ +29.97% | $167.73 (+56.39%) |
May 21, 2026 22w ago | Insider Cluster | $107.25 $142.81 | ▲ +33.16% | ▲ +29.97% | $167.73 (+56.39%) |
May 19, 2026 22w ago | Insider Cluster | $104.54 $147.09 | ▲ +40.70% | ▲ +35.69% | $167.73 (+60.45%) |
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