COMMVAULT SYSTEMS INC — Form 8-K
Filed July 28, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 52/100
What the filing says
For Q1 FY27 (ended June 30, 2026), Commvault reported subscription revenue of $267M (+16% YoY), with SaaS revenue crossing $100M (+39% YoY). Subscription ARR reached $1,054M (+22% YoY); net dollar retention was 114%. Free cash flow surged 71% to $51M. The company announced a multi-year strategic partnership with Microsoft to offer AI and cyber resilience solutions on Azure, and was named a Gartner Leader for the 15th consecutive year. FY27 guidance: subscription revenue $1,119–$1,129M; ARR $1,200–$1,210M; non-GAAP EBIT margin ~21%; free cash flow $250–$260M; ~60% of FCF to repurchase; diluted shares ~42M.
Why this rating
Strong execution: subscription growth 16%, SaaS 39%, ARR up 22%, NRR 114%, FCF +71%, Microsoft partnership. Relative to $8.2B market cap, $267M quarterly subscription and $1.054B ARR are meaningful but not transformational. Growth is decelerating (prior-year 40% subscription growth vs. now 16%), yet profitability and cash generation solid. Significant operational wins and strategic partnerships warrant positive view, but not a trajectory-altering event.
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