Commvault surged 14.4% after Q4 results, with the market rewarding clear upside in SaaS and subscription growth, record free cash flow, and momentum in identity resilience solutions—all signaling upside versus expectations.

• Subscription Annual Recurring Revenue (ARR) rose 27% to $989 million; SaaS ARR up 42% and crossed the $400 million mark.
• Subscription revenue grew 20% to $208 million in Q4.
• Free cash flow hit a record $132 million in Q4, totaling $237 million for the fiscal year.
• Identity resilience and data security offerings represented 33% of net new ARR in Q4; Active Directory ARR more than doubled year-over-year.
• Multi-product adoption among Commvault managed SaaS customers increased to 48%, up 500 basis points versus Q4 last year.