Commvault Systems, Inc. (NASDAQ:CVLT) Q1 2025 Earnings Conference Call July 30, 2024 8:30 AM ET
Company Participants
Michael Melnyk - Director, IR
Sanjay Mirchandani - President, CEO & Director
Gary Merrill - CFO
Danielle Sheer - Chief Trust Officer
Conference Call Participants
Aaron Rakers - Wells Fargo Securities
Howard Ma - Guggenheim Securities
James Fish - Piper Sandler & Co.
Rudy Kessinger - D.A. Davidson & Co.
Operator
Thank you for standing by. My name is Kath and I will be your conference operator today. At this time, I would like to welcome everyone to the Commvault Q1 FY 2025 Earnings Conference Call. [Operator Instructions].
I would now like to turn the call over to Mike Melnyk, Head of Investor Relations. Please go ahead.
Michael Melnyk
Good morning, and welcome to our earnings conference call. Before we begin, I'd like to remind you that 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 these forward-looking statements.
Commvault does not assume any obligation to update these statements. During this call Commvault's financial results are presented on a non-GAAP basis. A reconciliation between the non-GAAP and GAAP measures can be found on our website. Thank you again for joining us.
Now I'll turn it over to our CEO Sanjay Mirchandani for his opening remarks. Sanjay?
Sanjay Mirchandani
Thanks Mike. Good morning and thank you for joining today's call. Q1 was an outstanding quarter and start to our fiscal year. We saw great momentum across all our primary KPIs this quarter. Total revenue increased 13% to $225 million. Total ARR rose 17% to $803 million. Subscription ARR accelerated 27% to $636 million.
SaaS ARR jumped 66% to $188 million, and we did this profitably while investing in growth initiatives and hitting record Q1 free cash flow margins. Our Commvault Cloud platform continues to accelerate our growth as more companies turn to us for industry leading cyber resilience. We're rapidly becoming an integral part of the security conversation.
In Q1, we had more conversations with CISOs and CIOs than ever before, which contributed to our rapid results and set the stage for continued momentum through the fiscal year. The need for resilience is paramount. Whether that's recovering from a cyberattack, a natural disaster, human error, or as we've recently seen, a massive global outage from a faulty patch. We help our customers navigate these challenges in three critical areas, risk, readiness and recovery. Let's discuss each one.