Commault Systems, Inc. The KeyBanc Technology Leadership Forum 2026

Absolutely. First, thanks for having me here. Really happy to be here, really glad to be able to tell our story a little bit. We've relentlessly tried to innovate, and as the market has matured away from backup and recovery and now truly to cyber resilience, which has happened at an accelerated pace, I would say, over the last 3 years. That innovation is beyond market, it's acquisition and integration, and now, sitting in a space that is a top IT spending priority, and a space that will continue to have major tailwinds for many years to come across security and AI. Really pleased to be helping to lead that charge. I did spend a couple of years in go-to-market as our Chief Commercial Officer, leading our go-to-market teams globally. I took that as a route to try and help accelerate our growth.

During that time, we crossed $1 billion of ARR, and now I'm back as CFO, but also being able to use that commercial experience that I attained globally, working with our partners, working with the hyperscalers, and trying to get ready to scale us to the next stage of growth.

Most proud of, I would say, is driving our growth past $1 billion of ARR, and accelerating both our revenue and ARR growth to significant levels. That was done through a combination of both the operational rigor that myself and the team brought to how we approach go-to-market, but it also was very important in maturing key relationships in the ecosystem. So whether it's establishing technology integrations with security partners, expanding our reach with hyperscalers. The hyperscalers have a major impact on our market as we go to market with them through co-market, co-sell, co-development efforts. So maturing those routes to market and driving the leverage, and then probably most importantly, taking advantage of the implication that recovery has related to security.

Historically, our space was considered backup. Okay? Yeah. What's accelerated is away from backup and the relevance of recovery.

That's the massive change that's happened in our space over my tenure at Commvault, and every year, it continues to accelerate even more. So if you look at the market dynamics now of where we sit, okay, we sit with three key tailwinds that are driving growth today. Literally growth today. One would be ransomware, second would be hybrid cloud complexity, and the third would be governance. If you just combine those three, they're secular tailwinds that have sustained momentum, and you layer that against the market opportunity we sit in. We sit in this amazing TAM where we have a massive on-premise data protection that's probably growing mid-single digits. There's a cloud data protection market that's growing double digits.

Then there's adjacent markets such as identity resilience, data security, cloud-native protection, that some believe are growing 20% a year. So massive acceleration. That's all before the world of AI. AI will become the next tailwind that will come into our space, because in an AI-first world, it's all about data and leveraging your data, and it's a sweet spot straight for Commvault.

It was a solid quarter for Commvault, almost identical to our expectations. If I look at the key metrics, Subscription ARR grew 22% ARR. Our SaaS ARR business grew 38% year-over-year. It's a combo of driving new customer logo and existing customer business. We added 500 new subscription customers to our company. We maintained our subscription net dollar retention at 114%, and if you add to that, we expanded our EBIT margins to almost 23%, which was a 10-year high from a quarterly perspective in EBIT margins. If you think about starting a fiscal year in a period where we had some pretty significant executive changes with me moving to CFO, Jeff Hayden coming in as our new President, driving the go-to-market function. We've restructured the way we thought about our forward-looking guidance, and we ended up exactly where we wanted to be.

We're very pleased with the start we had. It sets us up to execute against our fiscal year guidance.