Filing Flows › Commvault Systems (CVLT) › Q2 FY27 › vs Q1 FY27
Commvault Systems (CVLT) Q2 FY27 vs Q1 FY27 (quarter over quarter)
Commvault Systems's revenue fell $1.7M (-0.6%) from $314M in Q1 FY27 to $312M in Q2 FY27. The biggest changes: Perpetual support −$2.0M (-8%); Perpetual license −$1.5M (-17%); Total subscription +$1.5M (+0.6%). Gross margin 81.2% against 81.7% (-0.5 pts).
Commvault Systems, Q2 FY27: revenue $312M (+13% year over year), operating margin 9.7%, net earnings $29.1M, operating cash flow $74.8M. The chart draws each line against Q1 FY27, the increases inside each band.
Margins
| Q2 FY27 | Q1 FY27 | Change | |
|---|---|---|---|
| Gross margin | 81.2% | 81.7% | -0.5 pts |
| Operating margin | 9.7% | 8.2% | +1.5 pts |
| Net margin | 9.3% | 6.7% | +2.6 pts |
| Free cash flow margin | 22.7% | 16.3% | +6.4 pts |
Every line
| Line | Q2 FY27 | Q1 FY27 | Change | % |
|---|---|---|---|---|
| Software-as-a-service | $106M | $101M | $5.7M | +6% |
| Term-based software licenses | $105M | $110M | −$5.4M | -5% |
| Term-based support | $57.3M | $56.1M | $1.2M | +2% |
| Total subscription | $269M | $267M | $1.5M | +0.6% |
| Perpetual support | $23.5M | $25.5M | −$2.0M | -8% |
| Other services | $13.2M | $12.9M | $256K | +2% |
| Perpetual license | $7.2M | $8.7M | −$1.5M | -17% |
| Revenue | $312M | $314M | −$1.7M | -0.6% |
| Gross profit | $254M | $257M | −$3.0M | -1% |
| Cost of revenue | $58.9M | $57.6M | $1.3M | +2% |
| Other income, net | $8.4M | $6.5M | $1.9M | +29% |
| Operating profit | $30.4M | $25.7M | $4.7M | +18% |
| Operating expenses | $223M | $231M | −$7.7M | -3% |
| Pre-tax earnings | $38.8M | $32.2M | $6.6M | +20% |
| Research & development | $42.3M | $39.5M | $2.8M | +7% |
| Sales & marketing | $136M | $140M | −$4.3M | -3% |
| General & admin | $42.2M | $46.8M | −$4.5M | -10% |
| Other operating costs | $3.1M | $4.7M | −$1.6M | -34% |
| Net earnings | $29.1M | $21.1M | $8.0M | +38% |
| Income tax | $9.6M | $11.1M | −$1.4M | -13% |
| Depreciation & amortization | $2.8M | $2.3M | $467K | +20% |
| Share-based compensation | $35.8M | $35.3M | $490K | +1% |
| Working capital & other | $7.1M | −$7.1M | $14.2M | — |
| Operating cash flow | $74.8M | $51.7M | $23.1M | +45% |
| Free cash flow (OCF − capex) | $70.9M | $51.1M | $19.8M | +39% |
| Capital expenditures | $3.9M | $569K | $3.4M | +591% |
Questions
How much did Commvault Systems's revenue grow quarter over quarter in Q2 FY27?
Commvault Systems's revenue fell $1.7M (-0.6%) from $314M in Q1 FY27 to $312M in Q2 FY27.
What drove Commvault Systems's revenue change in Q2 FY27?
Perpetual support −$2.0M (-8%); Perpetual license −$1.5M (-17%); Total subscription +$1.5M (+0.6%).