LONDON - Commvault, a global leader in cyber resilience and data protection solutions, announced today the launch of Cloud Rewind, a new feature on its Commvault Cloud platform designed to enhance organizational recovery from cyberattacks. Cloud Rewind leverages technology from the recent acquisition of Appranix to offer cloud-native application recovery and rebuild capabilities, aiming to expedite the process for cloud-first organizations.
The introduction of Cloud Rewind addresses a critical challenge for enterprises that rely heavily on cloud applications across various services. Traditional data recovery solutions focus on data restoration, but Commvault's offering aims to simplify and speed up the rebuilding of entire cloud application environments, including all necessary cloud infrastructure configurations. This can significantly reduce the time it takes for businesses to resume normal operations following an incident, which, according to Commvault's research, often exceeds a week.
Cloud Rewind's features include resource discovery for identifying and cataloging cloud components, app-centric dependency mapping to understand relationships between cloud components, drift analysis to ensure systems are restored to their original configurations, and Recovery-as-Code for capturing complete operational blueprints. Additionally, it offers on-demand cloud reconstruction and integrates with Commvault's data resilience capabilities for comprehensive cyber recovery and disaster recovery.
The Cyber Resilience Dashboard complements Cloud Rewind by offering ransomware readiness assessments and actionable insights to improve resilience planning. It evaluates factors like testing frequency and the availability of immutable air-gapped copies of critical data to provide organizations with a recovery readiness grade and recommendations for improvement.
Commvault's Chief Technology Officer, Brian Brockway, highlighted that Cloud Rewind represents a new chapter in cyber resilience, focusing on not just data recovery but also the rapid restoration of cloud applications. The offering supports major cloud platforms, including AWS, GCP, and Azure, ensuring compatibility with various customer environments.
Cloud Rewind and the Cyber Resilience Dashboard will be available in the coming months. These developments were announced as part of the SHIFT virtual conference, where Commvault also discussed its expanded support for Google (NASDAQ:GOOGL) Cloud and collaboration with Pure Storage (NYSE:PSTG) to assist financial institutions with DORA requirements.
Based on a press release statement, Commvault (NASDAQ: CVLT) continues to position itself as a comprehensive cyber resilience platform provider, serving over 100,000 organizations worldwide.
In other recent news, Commvault Systems Inc. has announced several significant developments. The company has sold its corporate headquarters for $36 million, a strategic move that aligns with broader industry trends of re-evaluating physical footprint and capital allocations. In terms of financial performance, Commvault reported a 13% increase in total revenue, reaching $225 million, and a 17% rise in annual recurring revenue (ARR), hitting $803 million in the first quarter of fiscal year 2025.
In addition to real estate and financial achievements, the company has also announced its plan to acquire Clumio, a cloud data protection vendor. This acquisition is expected to enhance Commvault's cloud portfolio and contribute immediately to its ARR growth.
Analyst firms Piper Sandler and Guggenheim have maintained neutral and buy ratings respectively on Commvault's stock, with DA Davidson raising the price target for the company to $175 from $170, maintaining a Buy rating.
In other company news, Commvault Systems confirmed the election of nine director nominees and the ratification of Ernst & Young LLP as the company’s independent public accountants for the fiscal year ending March 31, 2025. These recent developments indicate the company's strong execution and promising growth prospects.
InvestingPro Insights
Commvault's (NASDAQ: CVLT) latest innovation, Cloud Rewind, aligns well with its strong market position and financial performance. According to InvestingPro data, the company has shown impressive revenue growth of 10.32% over the last twelve months, with quarterly revenue growth reaching 13.38% in the most recent quarter. This growth trajectory supports Commvault's ability to invest in and develop cutting-edge solutions like Cloud Rewind.
The company's focus on cloud-native application recovery is reflected in its robust gross profit margin of 82.0%, indicating efficient operations and pricing power in the competitive cyber resilience market. This high margin provides Commvault with the financial flexibility to continue innovating and expanding its product offerings.
InvestingPro Tips highlight that Commvault holds more cash than debt on its balance sheet, which is crucial for funding initiatives like Cloud Rewind and potential future acquisitions similar to Appranix. This strong financial position is further underscored by the fact that cash flows can sufficiently cover interest payments, suggesting financial stability and the ability to invest in growth.
Investors seem to be recognizing Commvault's potential, as evidenced by the stock's strong performance. The company has seen a remarkable 122.45% price total return over the past year, and it's currently trading near its 52-week high. This market enthusiasm aligns with Commvault's strategic moves in the cyber resilience space.
It's worth noting that while Commvault is trading at high valuation multiples, including a P/E ratio of 38.1, this could be justified by its growth prospects and market leadership in the critical area of cyber resilience. The company's ability to address urgent market needs, as demonstrated by Cloud Rewind, may continue to drive investor interest.
For those interested in a deeper dive into Commvault's financials and market position, InvestingPro offers 17 additional tips, providing a comprehensive view of the company's strengths and potential challenges.
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