CVLT - Commvault Systems Inc. (CVLT) Q4 2024 Earnings Call Transcript
2024-04-30 14:51:12 ET
Commvault Systems, Inc. (CVLT)
Q4 2024 Earnings Conference Call
April 30, 2024, 08:30 ET
Company Participants
Michael Melnyk - Director, IR
Sanjay Mirchandani - President, CEO & Director
Gary Merrill - CFO
Conference Call Participants
Aaron Rakers - Wells Fargo Securities
James Fish - Piper Sandler & Co.
Howard Ma - Guggenheim Securities
Eric Martinuzzi - Lake Street Capital Markets
Jason Ader - William Blair & Company
Rudy Kessinger - D.A. Davidson & Co.
Presentation
Operator
Thank you for standing by, and welcome to the comparable Q4 FY 2024 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press the star one again. Finally, a reminder, this conference is being recorded. I would now like to turn the conference over to Mike Melnick, Head of Investor Relations. Please go ahead.
Michael Melnyk
Good morning, and welcome to our earnings conference call are Michael. I'd now like Head of Investor Relations, and I'm joined by Sanjay Mirchandani from both CEO and Gary marrow, Campbell, CFO and earnings presentation with key financial and operating metrics posted on the Investor Relations website. For reference. Statements made on today's call will include forward-looking statements about combo future expectations, plans and prospects. All such forward-looking statements are subject to risks, uncertainties and assumptions. Please refer to the cautionary language in today's earnings release and conference calls. Most recent periodic reports filed with the SEC for a discussion of risks and uncertainties that could cause the Company's actual results to be materially different from those contemplated any forward looking statements. Combos does not assume any obligation to update these statements during this call, Campbell's financial results are presented on a non GAAP basis. Reconciliation between non-GAAP and GAAP measures can be found on our website. Thank you again for joining us. Now I'll turn it over to Sanjay for his opening remarks. Sanjay?
Sanjay Mirchandani
Thank you, Mark. Good morning and thanks for joining us today. Q4 was an outstanding quarter, capping a breakout year for cobalt and setting the stage for fiscal year '25 and beyond. We ended our fiscal year with continued strong momentum across all primary KPI.s highlights from Q4 include total revenue increased 10% to $223 million. Total ARR rose 15% to $770 million. Subrsciption ARR increased 25% to nearly $600 million SaaS ARR jumped 65% to $168 million. Can we close the year with over 5,000 SaaS customers, and we did this profitably.
Our Q4 and fiscal year results shine a bright light on the critical role combo play in a world dominated by ransomware attacks and cyber threats. Organizations need to know that when they are hit, they can recover. This is what we empower our customers to be resilient and pickup. Our financial results speak to the multiyear journey. We started five years ago when I joined combo, I said the company had great bonds with a strong financial foundation and best in class technology, and we had a tremendous opportunity to unlock a new level of growth within the company. With that goal in mind, we reinvigorated our brand and go-to-market motion, strengthened our partner ecosystem and expanded our routes to market, and we double down on comp, of course, drives innovation....
Commvault Systems, Inc. (CVLT) Q4 2024 Earnings Call Transcript