Filing Flows › Commvault Systems (CVLT) › Q3 FY26
Commvault Systems (CVLT) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Jan 28, 2026
Commvault Systems (CVLT) reported revenue of $314M for the third quarter fiscal 2026 (Q3 FY26), +19% from a year earlier and +14% from the quarter before. Operating margin was 6.3%, net earnings $17.8M (5.7% of revenue).
Commvault Systems, Q3 FY26: revenue $314M (+20% year over year), operating margin 6.3%, net earnings $17.8M, operating cash flow $4.0M. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $314M | +14% | +19% |
| Gross profit | $255M | +15% | +19% |
| Operating profit | $19.8M | +58% | +45% |
| Net earnings | $17.8M | +21% | +61% |
| Operating cash flow | $4.0M | -95% | -87% |
| Free cash flow | $1.9M | -97% | -94% |
What changed
Revenue was $313.8M in Q3 FY26, up 19% year over year and up 14% from the previous quarter. Term-based software licenses was the largest line at 38% of revenue. Software-as-a-service added $26.7M year over year (up 44%), 52% of the total change. Perpetual license declined 17%.
Gross margin was 81.1%, down 0.4 points from a year earlier. Operating profit was $19.8M, a 6.3% margin (up 1.1 points year over year). Of the extra revenue versus a year earlier, 12% reached operating profit, above the 5% margin then. Operating expenses grew 17% against revenue growth of 19%. The fastest-growing cost line was Other operating costs (+58%). Net earnings were $17.8M, up 61% year over year. The effective tax rate was 34.2%. Non-operating items added $7.3M, 27% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $4.0M (down 87% year over year), 23% of net earnings. Non-cash charges added back $3.8M of depreciation and amortization and $29.1M of share-based compensation. Working capital and other items used $46.6M. Capital expenditures of $2.1M left free cash flow of $1.9M.
Questions
What was Commvault Systems' revenue in the third quarter fiscal 2026?
Commvault Systems (CVLT) reported revenue of $314M for the third quarter fiscal 2026 (Q3 FY26), +19% from a year earlier and +14% from the quarter before.
Was Commvault Systems profitable in the third quarter fiscal 2026?
Operating profit was $19.8M (6.3% of revenue) and net earnings $17.8M.
Source: Commvault Systems 10-Q on SEC EDGAR.