Commvault (CVLT) Q2 Subscr. Rev. Up 21% to $269M
Commvault reported Q2 FY27 subscription revenue of $269M, up 21% YoY, and subscription ARR of $1.1B, up 20% YoY. Operating cash flow was $75M, with free cash flow of $71M.
How this was made

The 30-second read
Why it matters
The 21% YoY revenue increase and 20% ARR growth provide fresh data for valuation models.
Market read
Earnings release adds new quantitative insight, useful for short‑term traders and longer‑term investors.
What to watch
Cash flow remains modest; high growth may not translate to profitability yet.
Background
Commvault is a mid‑cap data protection software company transitioning to a subscription model.
Ticker impact
Commvault reported Q2 FY27 subscription revenue of $269M, up 21% YoY, and ARR of $1.104B, up 20% YoY.
likely upward pressure as investors price in the revenue beat
Quarterly numbers exceed prior-year growth rates and signal successful pivot to subscription model.
Market effects
Highlights strength in data protection SaaS sector.
U.S. tech investors may view subscription models favorably.
Limited to enterprise software niche.
Counterpoint
If guidance remains flat, the revenue beat may be priced out quickly.
Key entities
- CompanyCommvault
Data protection and backup software provider.




