On July 28, CommVault declined 18.79% in regular trading, trading at $121.37 per share, with turnover of $239 million.
On the news front, CFO Gary Merrill warned during an analyst call that memory chip shortages could disrupt deal timing in the company's on-premises deployment market. Although the company reported fiscal Q1 adjusted EPS of $1.42, beating the FactSet consensus estimate of $1.16, and revenue of $314.1 million versus expectations of $310.4 million, the forward-looking concern overshadowed the earnings beat. Merrill noted that CommVault's on-premises software products are tightly linked to hardware, and that hardware availability constraints are becoming a key risk factor. He stated the company is managing trade-offs in its pipeline and addressing specific issues arising from hardware availability limitations.
CommVault provides a data protection platform through its Commvault Cloud, unifying data security and cyber recovery services across on-premises, hybrid, and multi-cloud environments.
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