Mission Statement, Vision, & Core Values (2024) of Commvault Systems, Inc. (CVLT)

An Overview of Commvault Systems, Inc. (CVLT)

Overview of Commvault Systems, Inc. (CVLT)

Commvault Systems, Inc. (CVLT) was founded in 1996 and has established itself as a leader in data backup and recovery solutions. The company specializes in data management software and services, primarily catering to enterprises that require robust solutions for data protection, information management, and compliance. Commvault's product suite includes its flagship software platform, which provides backup and recovery, cloud data management, and data governance capabilities.

As of 2024, Commvault reported total revenue of $420.4 million for the six months ended September 30, 2024, reflecting a 15% year-over-year increase from $362.0 million in the same period of 2023. The company's subscription revenue accounted for 56% of total revenues, highlighting its strategic shift towards recurring revenue models.

Financial Performance in Latest Financial Reports

Commvault's financial performance for the six months ended September 30, 2024, shows significant growth, driven largely by a 32% increase in subscription revenue, which rose to $235.9 million from $172.8 million in the previous year. This growth was primarily fueled by a 72% increase in Software-as-a-Service (SaaS) revenue. In contrast, perpetual license revenue decreased by 12% to $18.7 million.

Net income for the same period was reported at $34.1 million, up from $25.6 million a year earlier, indicating a robust growth in profitability. The gross margin remained stable at approximately 82%, attributed to efficient cost management despite increased operational expenses.

Industry Leadership

Commvault continues to be recognized as a leader in the data management industry, particularly in the areas of backup and recovery solutions. The company has a strong market presence, with its products being utilized by enterprises globally to manage their data efficiently and securely. In 2024, Commvault's focus on subscription-based services and cloud offerings has positioned it well to adapt to the evolving needs of its customers in a digital-first world.

With a commitment to innovation and customer satisfaction, Commvault aims to enhance its product offerings and maintain its competitive edge in the data management sector. The company's recent acquisition of Appranix, a cloud cyber resilience firm, further underscores its strategic intent to expand its capabilities.

Mission Statement of Commvault Systems, Inc. (CVLT)

Mission Statement of Commvault Systems, Inc. (CVLT)

Commvault Systems, Inc. (CVLT) articulates its mission statement as a guiding framework for its long-term objectives and operational strategies. The mission emphasizes the company's commitment to providing innovative data protection and management solutions that empower organizations to manage, protect, and optimize their data seamlessly across complex environments.

The significance of a well-defined mission statement lies in its ability to align the company's resources and actions with its strategic vision, ensuring that all employees are working towards common goals while addressing customer needs effectively.

Core Component 1: Innovation

At the heart of Commvault's mission is a strong focus on innovation. The company continuously invests in research and development to enhance its product offerings. In the fiscal year ending September 30, 2024, Commvault's research and development expenses totaled $10.7 million, reflecting an increase from the previous year, underscoring its commitment to innovation.

For instance, the introduction of their SaaS solutions has seen a remarkable 72% growth in subscription revenue, demonstrating how innovation directly impacts their market performance.

Core Component 2: Customer Empowerment

Commvault's mission statement emphasizes empowering customers through comprehensive data management solutions. As of September 30, 2024, subscription revenue accounted for 56% of total revenues, indicating a shift towards customer-centric pricing models that provide flexibility and scalability.

Additionally, Commvault's customer support revenue remained stable, reflecting the company's dedication to maintaining strong relationships with clients. The increase in customer support revenue related to term-based licenses highlights the effectiveness of their customer empowerment strategy.

Core Component 3: Data Protection

Data protection is a cornerstone of Commvault's mission. The company aims to ensure that organizations can safeguard their critical data against loss and unauthorized access. The acquisition of Appranix in April 2024 for $26.3 million, which includes cash and stock, illustrates Commvault's strategic focus on enhancing its cyber resilience capabilities.

The financial impact of this commitment is evident, as Commvault reported a total revenue increase of $58.8 million, or 15%, year-over-year, primarily driven by their robust data protection solutions.

Commvault's mission statement, with its emphasis on innovation, customer empowerment, and data protection, serves as a blueprint for the company's strategic initiatives and operational focus moving forward into 2024 and beyond.

Vision Statement of Commvault Systems, Inc. (CVLT)

Vision Statement of Commvault Systems, Inc. (CVLT)

Commvault Systems, Inc. aims to empower organizations to manage, protect, and optimize their data across multi-cloud environments. The vision statement emphasizes the company's commitment to innovation, customer success, and operational excellence.

Commvault focuses on providing organizations with comprehensive data management solutions that enhance operational efficiency and drive business growth. This aligns with the increasing demand for data-driven decision-making processes in modern enterprises.

The company recognizes the importance of multi-cloud strategies in today's business landscape. As of September 30, 2024, approximately 46% of Commvault's sales were generated outside the United States, highlighting the global shift towards cloud-based solutions.

Commvault invests significantly in research and development to enhance its product offerings. In the six months ended September 30, 2024, research and development expenses increased by 8% to $35.1 million, demonstrating the company's commitment to innovation.

The company aims for operational excellence by optimizing its customer success functions. Restructuring expenses related to this initiative were $5.2 million for the six months ended September 30, 2024. This restructuring is intended to improve both pre-sales and post-sales experiences for customers.

Commvault’s vision includes a commitment to sustainability in its operational practices. The company is focused on reducing its carbon footprint and promoting environmentally responsible practices across its operations.

Conclusion

Commvault Systems, Inc. is positioned as a leader in the data management sector by focusing on empowering organizations through innovative solutions, multi-cloud capabilities, and a commitment to customer success and sustainability.

Core Values of Commvault Systems, Inc. (CVLT)

Core Value 1: Customer Commitment

Commvault Systems, Inc. emphasizes a strong commitment to customer satisfaction and success. This core value is reflected in the company’s initiatives aimed at enhancing customer experiences through tailored solutions and support.

In the fiscal year 2024, Commvault reported a 33% increase in subscription revenue in the Americas, highlighting its focus on meeting customer needs with subscription-based services, which accounted for 56% of total revenues. The company’s customer support revenue increased by $12.4 million related to term-based license arrangements. This demonstrates Commvault's dedication to providing ongoing support and value to its customers.

Core Value 2: Innovation

Innovation is at the heart of Commvault’s operations, as the company invests significantly in research and development to stay ahead in the technology landscape.

For the six months ended September 30, 2024, Commvault increased its research and development expenses by $2.6 million, or 8%, reflecting its commitment to enhancing its software applications. The acquisition of Appranix, a cloud cyber resilience company, for $26.27 million further illustrates this commitment to innovation, as it aims to expand Commvault’s product offerings in the cyber resiliency market.

Core Value 3: Integrity

Integrity is a foundational value for Commvault, guiding its operations and interactions with customers, employees, and stakeholders.

As of September 30, 2024, Commvault maintained a strong compliance record, with no significant legal actions that could adversely affect its operations. Additionally, the company’s stock repurchase program, which authorized $250 million for share buybacks, reflects its commitment to maintaining shareholder value and transparency in financial dealings.

Core Value 4: Teamwork

Commvault promotes teamwork as a crucial aspect of its corporate culture, fostering collaboration among employees to drive success.

In the six months ended September 30, 2024, the company reported an increase in employee compensation related to sales commissions by $14.1 million, indicating a collaborative effort to achieve revenue targets. The restructuring plan initiated to enhance customer success functions further emphasizes the importance of teamwork in optimizing operational efficiency.

Core Value 5: Accountability

Accountability is integral to Commvault’s operations, ensuring that the company meets its commitments to customers and stakeholders.

Commvault’s net income for the six months ended September 30, 2024, was $34.09 million, an increase from $25.65 million in the same period of the previous year. This growth demonstrates the company’s accountability in delivering financial results and adhering to its strategic objectives. Furthermore, the company’s focus on recognizing stock-based compensation expenses of $52.81 million reflects its commitment to transparency in financial reporting.

Article updated on 8 Nov 2024

Resources:

• Commvault Systems, Inc. (CVLT) Financial Statements – Access the full quarterly financial statements for Q2 2025 to get an in-depth view of Commvault Systems, Inc. (CVLT)' financial performance, including balance sheets, income statements, and cash flow statements.
• SEC Filings – View Commvault Systems, Inc. (CVLT)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.