COMMVAULT SYSTEMS INC (CVLT)
Vertical SaaSSaaS Metrics & Investor Data — Q1 2026
analyticsEditorial Financial Analysis
Financial Performance & Trajectory
Commvault Systems has demonstrated a robust and accelerating financial trajectory. Trailing revenue grew from $1.00B in Q1 2025 to $1.18B in Q1 2026, with year-over-year growth accelerating from 18.6% to 18.9% over the trailing twelve months. The business has scaled effectively, maintaining exceptionally high gross margins—consistently above 81%—indicating strong pricing power and a high-value software portfolio. Free cash flow margins have been volatile but strong, dipping to 11.7% in Q4 2025 before rebounding sharply to 20.0% in Q1 2026, suggesting disciplined cost management and improving operational leverage. This cash generation profile positions Commvault as a high-margin, cash-rich operator within the Vertical SaaS landscape.
Operational & Go-to-Market (GTM) Efficiency
Commvault’s GTM efficiency is solid but shows room for improvement. The Rule of 40 score has fluctuated, rising from 25.7 in Q4 2025 to 38.9 in Q1 2026, reflecting a healthy balance of growth and profitability. While net revenue retention (NRR) and CAC payback data are not disclosed, the high gross margins and strong FCF generation suggest that customer acquisition costs are being recovered efficiently. The company’s reinvestment in R&D appears to be yielding returns, as evidenced by the acceleration in revenue growth and margin expansion. However, the volatility in FCF margin indicates that operational discipline must remain a focus to sustain long-term efficiency.
Market Valuation & Sentiment
Commvault trades at an EV/Revenue multiple of 2.9x, a notable compression from 4.3x in Q1 2025, despite improving financial performance. This discount may reflect market skepticism about sustained growth or broader sector headwinds. Insider activity shows net selling of $1.74M over the last ten filings, with zero insider purchases, a cautious signal from management. However, Wall Street sentiment remains bullish, with a consensus "Buy" rating (18 Buys, 15 Holds, 0 Sells) and an average price target of $141.64, implying significant upside. The valuation gap between current multiples and analyst targets suggests the market is pricing in execution risk, while insiders are taking profits—a dynamic that warrants close monitoring.
Disclaimer: The editorial financial analysis above is generated using data sourced from SEC EDGAR filings and Wall Street consensus ratings. This analysis is provided for informational and educational purposes only and does not constitute financial, investment, or professional advice. Readers should conduct their own research or consult with a registered financial advisor before making any investment decisions.
COMMVAULT SYSTEMS INC (CVLT) is a Vertical SaaS SaaS company with a market cap of $4.3B as of Q1 2026. The company trades at 2.9x EV/Revenue and has delivered +18.9% revenue growth year-over-year. With a gross margin of 81% and FCF margin of 20.0%, COMMVAULT SYSTEMS INC scores 39 on the Rule of 40 — placing it in the upper half of public SaaS companies tracked by SaaSDB.
compare_arrowsSector Benchmarking
Latest company metrics compared to the Vertical SaaS sector medians
EV/Revenue is 2.9x (sector median: 4.4x) — trading at a discount of 1.6x relative to peers.
Rule of 40 is 38.9% (sector median: 30.2%) — outperforming peers by 8.7%.
Revenue Growth is 18.9% (sector median: 15.5%) — outperforming peers by 3.4%.
Gross Margin is 81.2% (sector median: 74.1%) — outperforming peers by 7.1%.
FCF Margin is 20.0% (sector median: 11.9%) — outperforming peers by 8.2%.
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rocket_launchFounder & Operator Metrics
Not publicly disclosed by this company: Net Revenue Retention·Gross Retention·ARR·ARR Growth·CAC Payback
trending_upEfficiency & Investment Trends
Insider Trading Activity
90-Day Insider Sentiment: Bearish / Net Selling. Insiders executed 3 sell transactions (totaling $1.7M) with zero buys. Last activity on May 19, 2026.
Analyst Ratings
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