Filing Flows › Commvault Systems (CVLT) › Q2 FY26
Commvault Systems (CVLT) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Oct 29, 2025
Commvault Systems (CVLT) reported revenue of $276M for the second quarter fiscal 2026 (Q2 FY26), +18% from a year earlier and -2% from the quarter before. Operating margin was 4.5%, net earnings $14.7M (5.3% of revenue).
Commvault Systems, Q2 FY26: revenue $276M (+18% year over year), operating margin 4.5%, net earnings $14.7M, operating cash flow $76.8M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $276M | -2% | +18% |
| Gross profit | $221M | -4% | +16% |
| Operating profit | $12.5M | -50% | -17% |
| Net earnings | $14.7M | -37% | -5% |
| Operating cash flow | $76.8M | +142% | +38% |
| Free cash flow | $73.6M | +147% | +37% |
What changed
Revenue was $276.2M in Q2 FY26, up 18% year over year and down 2% from the previous quarter. Term-based software licenses was the largest line at 34% of revenue. Software-as-a-service added $30.4M year over year (up 61%), 71% of the total change.
Gross margin was 80.1%, down 1.6 points from a year earlier. Operating profit was $12.5M, a 4.5% margin (down 1.9 points year over year). Operating profit fell $2.5M even though revenue rose $42.9M versus a year earlier, so costs grew faster than sales. Operating expenses grew 19% against revenue growth of 18%. The fastest-growing cost line was General & admin (+25%). Net earnings were $14.7M, down 5% year over year. The effective tax rate was 2.5%.
Operating cash flow was $76.8M (up 38% year over year), 521% of net earnings. Non-cash charges added back $3.1M of depreciation and amortization and $32.2M of share-based compensation. Working capital and other items added $26.7M. Capital expenditures of $3.2M left free cash flow of $73.6M.
Questions
What was Commvault Systems' revenue in the second quarter fiscal 2026?
Commvault Systems (CVLT) reported revenue of $276M for the second quarter fiscal 2026 (Q2 FY26), +18% from a year earlier and -2% from the quarter before.
Was Commvault Systems profitable in the second quarter fiscal 2026?
Operating profit was $12.5M (4.5% of revenue) and net earnings $14.7M.
Source: Commvault Systems 10-Q on SEC EDGAR.