Commvault Q2 FY27: Revenue Up 13% to $312.4M, EPS $0.69, Subscription ARR Up 20%
CVLT has more than doubled off its 52-week low of $71.75.
Summary
Commvault's Q2 FY27 10-Q shows revenue up 13% to $312.4M and EPS of $0.69, with Subscription ARR up 20% to $1,103.9M and SaaS gross margin expanding to 70.0%. The filing also details $109.2M of buybacks in the quarter and pending securities litigation with no accrual recorded.
Key Events · Earnings and Guidance · CVLT
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Q2 Revenue Up 13% to $312.4M
Total revenue rose to $312.4M from $276.2M, with subscription revenue up 21% to $268.5M and SaaS up 33% to $106.2M. Net income was $29.1M, or $0.69 diluted EPS.
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Subscription ARR $1.1B, Up 20%
Subscription ARR reached $1,103.9M versus $918.1M a year ago, and SaaS ARR hit $454.4M, up 35%. Subscription net dollar retention eased to 113% from 114%.
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SaaS Gross Margin Jumps to 70.0%
SaaS gross margin expanded to 70.0% from 63.5%, lifting total gross margin to 81.2% from 80.1% as infrastructure and hyperscaler economics improved.
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$109.2M Buyback, $130.7M Remaining
The company repurchased 808,563 shares in the quarter at an average $135.01, leaving $130.7M available under the $250M program recommitted on April 15, 2026.
Analysis · CVLT · Technology
The quarter was already public, but the 10-Q is where the recurring-revenue engine gets measured. Subscription ARR of $1,103.9M is up 20% and SaaS ARR of $454.4M is up 35%, while subscription net dollar retention slipped to 113% from 114%. SaaS gross margin jumped to 70.0% from 63.5%, the clearest evidence yet that the cloud transition is adding margin rather than just shifting revenue lines. Against that, the company bought back $109.2M of stock in the quarter at an average $135.01 — well below today's $166.46 — leaving $130.7M on the program, and it carries $900M of 0% convertible notes due 2030 with a $236.88 conversion price. The open risk is the federal securities class actions filed in May and July 2026, plus consolidated derivative suits stayed pending their outcome, for which no accrual has been recorded.
How filings like this one have moved
In the 30 days to Oct 29, 2026, 31.1% of the 1661 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CVLT was trading at $166.46 on NASDAQ in the Technology sector, with a market capitalization of approximately $6.9B. The 52-week trading range was $71.75 to $174.25. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.