Commvault Systems, Inc. (NASDAQ:CVLT) Q3 2023 Earnings Conference Call January 31, 2023 8:30 AM ET

Company Participants

Michael Melnyk - Head, IR

Sanjay Mirchandani - CEO

Gary Merrill - CFO

Conference Call Participants

Aaron Rakers - Wells Fargo

James Fish - Piper Sandler

Howard Ma - Guggenheim

Eric Martinuzzi - Lake Street Capital

Jason Ader - William Blair

Thomas Blakey - KeyBanc

Operator

Ladies and gentlemen, thank you for standing by, and welcome to Commvault Third Quarter Fiscal Year 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference may be recorded.

I would now like to hand the conference over to your speaker host today, Michael Melnyk, Head of Investor Relations. Please go ahead.

Michael Melnyk

Good morning, and welcome to our earnings conference call. I'm Michael Melnyk, Head of Investor Relations, and I'm joined by Sanjay Mirchandani, Commvault's CEO; Gary Merrill, Commvault's CFO. An infographic with key financial and operating metrics is posted on the Investor Relations website for reference.

Statements made on today's call will include forward-looking statements about Commvault's future expectations, plans and prospects. All such forward-looking statements are subject to risks, uncertainties and assumptions. Please refer to the cautionary language in today's earnings release and Commvault's most recent periodic reports filed with the SEC for a discussion of the risks and uncertainties that could cause the Company's actual results to be materially different from those contemplated in the forward-looking statements. Commvault does not assume any obligation to update those statements.

During this call, Commvault's financial results are presented on a non-GAAP basis. A reconciliation between non-GAAP and GAAP measures can be found on our website. Thank you again for joining us.

Now I'll turn it over to Sanjay for his remarks. Sanjay?

Sanjay Mirchandani

Thank you, Mike. Good morning and thank you for joining us today.

Earlier this month, we noted delays and deferrals in our customer spending, which were particularly acute in December. We are not alone. It's increasingly clear that customers and prospects are more calculated and cautious around spending decisions in the current macroeconomic environment.

That said, we have built our company on a foundation of responsible growth for the long run, which we expect will allow us to navigate the current economic environment. There are several solid indicators in the quarter that reflects strength in our future growth potential.