Free Research Report as Commvault Delivered Record Quarterly Revenues

Stock Monitor: Mitek Systems Post Earnings Reporting

LONDON, UK / ACCESSWIRE / January 31, 2018 / Active-Investors.com has just released a free earnings report on Commvault Systems, Inc. (NASDAQ: CVLT) (“Commvault”). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CVLT. Commvault posted its third quarter fiscal 2018 (Q3 FY18) financial results on January 24, 2018. The leading data and information management software provider’s revenue grew 7.96% on a y-o-y basis. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Mitek Systems, Inc. (NASDAQ: MITK), which also belongs to the Technology sector as the Company Commvault Systems. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Commvault Systems most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=CVLT

Earnings Highlights and Summary

During the third quarter of the fiscal year 2018, Commvault posted net sales of $180.37 million compared to net sales of $167.06 million in Q3 FY17, reflecting an increase of 7.96%. Commvault’s sales growth was primarily backed by its segments revenue growth. The Company’s subscription-based pricing models, which represents 20.00% of the its Software revenue, made excellent progress. The Company’s revenue numbers missed analysts’ estimates of $182.80 million.

Commvault’s gross profit was $155.41 million in Q3 FY18 compared to $145.90 million in Q3 FY17, increasing 6.52% on a y-o-y basis. The Company’s selling, general, and administrative expenses (SG&A) amounted to $20.39 million in the reported quarter compared to $21.61 million in the year ago same period, decreasing 5.66% on a y-o-y basis. The Company’s operating income was $3.48 million in Q3 FY18 compared to $3.84 million in Q3 FY17, decreasing 9.47% on a y-o-y basis.

Commvault’s net loss was $58.95 million in the reported quarter compared to net income of $1.96 million in Q3 FY17. The Company’s loss per share was $1.30 in Q3 FY18 compared to earnings per share (EPS) of $0.04 in the third quarter of the previous fiscal year. The decline was attributed to the recent enactment of the Tax Cuts and Jobs Act, incurring a tax expense of approximately $59.00 million in the reported quarter.

Commvault’s adjusted net income was $14.10 million in Q3 FY18, compared to $14.96 in Q3 FY17, reflecting a decrease of 5.77%. Adjusted earnings of the Company were $0.30 in the reported quarter, compared to $0.32 in Q3 FY17, decreasing 6.25% on a y-o-y basis. The Adjusted earnings numbers fell short of analysts’ estimates of $0.31 per share.

Commvault’s Segment Details

Commvault has two business segments, namely: (i) Software and Products, and (ii) Services.

The Software and Products segment reported net sales of $81.44 million in Q3 FY18 compared to $78.66 million in Q3 FY17, reflecting a growth of 3.54% compared to the year ago same period. The growth was driven by an increase in EMEA enterprise revenue transactions. The segment’s cost of revenue was $1.23 million in Q3 FY18 compared to $0.77 million in Q3 FY17, increasing 59.84% on a y-o-y basis.

The Services segment posted net sales of $98.92 million in Q3 FY18 compared to $88.41 million in Q3 FY17, increasing 11.90% on a y-o-y basis. The segment’s cost of revenue was $23.72 million in Q3 FY18 compared to $20.39 million in Q3 FY17, increasing 16.32%.

Cash Matters

As on December 31, 2017, Commvault had cash and cash equivalents of $314.49 million compared to $316.41 million as on December 31, 2016. The Company’s cash inflow from operating activities was $31.21 million in the reported quarter compared to a cash inflow of $26.77 million in Q3 FY17.

During the reported quarter, the Company invested $80.10 million to repurchase approximately 1.50 million shares of common stock. On January 17, 2018, Commvault’s Board of Directors extended the expiration date of the share repurchase program to March 31, 2019 and authorized a $100.0 million increase to the existing share repurchase program, with $133.7 million available as of the date of earnings release.

Stock Performance Snapshot

January 30, 2018 – At Tuesday’s closing bell, Commvault Systems’ stock declined 1.65%, ending the trading session at $53.80.

Volume traded for the day: 690.36 thousand shares, which was above the 3-month average volume of 472.63 thousand shares.

Stock performance in the last month – up 2.48%; previous three-month period – up 4.77%; past twelve-month period – up 7.92%; and year-to-date – up 2.48%

After yesterday’s close, Commvault Systems’ market cap was at $2.44 billion.

The stock is part of the Technology sector, categorized under the Application Software industry.

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