Who Owns CommVault Company?

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Who Owns CommVault Systems, Inc.?

Understanding CommVault's ownership is key to grasping its strategic direction and accountability. Since its 2006 IPO, the company transitioned from venture capital to public ownership.

CommVault, founded in 1996 as a spin-off from Bell Labs, focuses on data management and recovery. Its solutions simplify data protection and management across various environments.

As of July 21, 2025, CommVault Systems (CVLT) has a market capitalization of $7.349 billion. For fiscal year 2025, total revenues were $996 million, with Annual Recurring Revenue (ARR) growing 21% to $930 million. Subscription revenues saw a significant 37% increase, reaching $590 million, highlighting strong customer adoption of its subscription-based offerings, a key aspect of its business model that can be further explored in a CommVault Porter's Five Forces Analysis.

The journey of CommVault began in 1988 as a specialized data management unit within Bell Labs. This group was later spun off from Lucent Technologies in 1996, establishing itself as an independent corporation focused on backup and recovery solutions. Early funding for the newly formed entity came from venture capital, preceding its eventual public offering.

Founding Roots

CommVault's origins are deeply embedded in the innovation hub of Bell Labs, starting as a development group in 1988. This specialized unit focused on critical data management, backup, and recovery technologies.

Corporate Independence

In 1996, the data management division was officially spun off from Lucent Technologies. This marked the incorporation of CommVault as a standalone entity, charting its own course in the technology sector.

Early Funding Strategy

Following its spin-off, CommVault secured crucial funding through venture capital. This early investment was instrumental in supporting the company's growth and development prior to its public market debut.

Leadership Transition

Key leadership figures, Bob Hammer and Al Bunte, joined CommVault in March 1998, bringing their expertise from Bell Labs. Hammer assumed the roles of Chairman, President, and CEO, while Bunte became Vice President and COO.

Initial Incorporation Leadership

When CommVault was formally incorporated in 1996, Scotty R. Neal held the position of Chief Executive Officer. His leadership guided the company through its initial corporate formation phase.

IPO and Ownership Diversification

The company's Initial Public Offering (IPO) in 2006, with shares priced at $14.50, significantly broadened its ownership base. This public offering was a pivotal moment, raising capital for expansion and marking a transition from its early venture capital-backed structure.

While the exact initial equity distribution among founders is not publicly disclosed, the early reliance on venture capital indicates that external investors acquired stakes during CommVault's formative years. The strategic decision to go public in 2006, with an IPO price of $14.50 per share, was a critical step in diversifying CommVault ownership and fueling its growth trajectory. The long-term vision and leadership, particularly under Bob Hammer's tenure of over two decades, played a significant role in shaping the company's strategic direction and its evolving ownership structure. Understanding this early phase is crucial for grasping the current CommVault ownership landscape and its journey to becoming a publicly traded entity, which is further detailed in the Competitors Landscape of CommVault.

Founders and Early Ownership Dynamics

The foundational period of CommVault involved a transition from a corporate division to an independent company, supported by venture capital. Key leadership from Bell Labs played a pivotal role in guiding its early strategy and growth.

• Origins as a Bell Labs development group in 1988.
• Spun off from Lucent Technologies in 1996.
• Initial funding secured through venture capital.
• Bob Hammer and Al Bunte joined in March 1998.
• IPO in 2006 diversified ownership and raised capital.

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CommVault Systems, Inc. became a publicly traded entity on NASDAQ in March 2006, marking a significant shift from its initial venture capital backing. This transition diversified its ownership base and provided access to capital for future growth. The company's market capitalization as of July 21, 2025, is approximately $7.349 billion.

The ownership structure of CommVault is predominantly held by institutional investors, who collectively own over half of the company's shares. This significant institutional presence, alongside holdings by public companies and individual investors, shapes the company's financial landscape and strategic direction. The transition to public trading in 2006 was a pivotal moment, enabling capital infusion for expansion and enhancing the company's market profile. CommVault's fiscal year 2025 demonstrated robust financial performance, with total revenues reaching $996 million, a 19% increase year-over-year, and subscription revenue climbing 37% to $590 million, underscoring a successful pivot to subscription and SaaS models.

Key Institutional Investors in CommVault

Major institutional shareholders play a crucial role in CommVault's corporate governance and market perception. Their substantial holdings reflect confidence in the company's strategy and future prospects.

• The Vanguard Group, Inc. holds 12.12% of outstanding shares.
• BlackRock Institutional Trust Company, N.A. owns 11.75% of outstanding shares.
• Renaissance Technologies LLC has a stake of 3.80%.
• State Street Global Advisors (US) holds 3.74%.
• Acadian Asset Management LLC owns 3.38%.
• Neuberger Berman, LLC holds 3.37%.
• Geode Capital Management, L.L.C. has a stake of 2.94%.
• iShares Core S&P Mid-Cap ETF holds 3.23%.
• Vanguard Total Stock Market Index Fund owns 3.18%.

The substantial institutional ownership, with a high ownership ratio of 92%, has been accompanied by consistent buying activity throughout 2024 and early 2025. This trend suggests a positive outlook from major investors regarding CommVault's growth trajectory. Understanding who owns CommVault provides insight into the forces influencing its strategic decisions and market performance. For a deeper dive into the company's guiding principles, explore the Mission, Vision & Core Values of CommVault.

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CommVault Systems, Inc.'s governance is guided by a Board of Directors, with nine nominees proposed for one-year terms as of the 2025 Proxy Statement. The structure emphasizes an independent Chairman, Nicholas Adamo, who has held the position since 2019, ensuring a clear separation between oversight and executive management.

The voting power at CommVault is based on a straightforward one-share-one-vote principle, meaning each share of common stock held entitles the stockholder to one vote on matters presented. As of May 2, 2025, there were 44,125,430 shares of common stock outstanding and eligible to vote. This structure indicates no preferential voting rights or dual-class share arrangements that could concentrate control. Shareholders actively participate in key decisions, including the election of directors and advisory approval of executive compensation, reflecting a commitment to shareholder democracy. The company's dedication to returning value to its shareholders is further demonstrated by significant share repurchases, with $165 million returned in fiscal 2025 and an increase in the share repurchase program to $250 million as of April 17, 2025.

Understanding CommVault's Shareholder Structure

CommVault's ownership structure is designed for broad shareholder participation. The company operates on a one-share-one-vote basis, ensuring equitable voting rights.

• Voting Power: One vote per share of common stock.
• Total Outstanding Shares: 44,125,430 as of May 2, 2025.
• Board Independence: All directors, except the CEO, are independent.
• Shareholder Returns: $165 million in share repurchases in fiscal 2025.
• Future Buybacks: Program increased to $250 million.
• Strategic Oversight: Board focuses on company direction and accountability.

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Over the past few years, CommVault has shown significant strategic evolution and financial growth, which has naturally influenced its ownership landscape. The company's focus on subscription models and strategic acquisitions has positioned it for continued development, attracting substantial investor interest.

CommVault's commitment to shareholder value is evident through its active share repurchase program. In the fourth quarter of fiscal 2025, the company bought back $30 million of its common stock, and for the full fiscal year, repurchases totaled $165 million. This initiative was further bolstered by an increase in the share repurchase program to $250 million as of April 17, 2025, signaling a sustained effort to manage outstanding shares and enhance shareholder returns.

Strategic Acquisitions for Enhanced Capabilities

CommVault has strategically acquired companies to bolster its cyber resilience and data protection offerings. In fiscal 2025, acquisitions of Appranix, Inc. and Clumio, Inc. were completed. The company also announced its intent to acquire Satori Cyber Ltd in July 2025, aiming to strengthen its position in data and AI security.

Leadership and Market Recognition

Recent leadership appointments, such as Alan Atkinson becoming Chief Business Development Officer and Michelle Graff joining as Senior Vice President of Global Partners and Channel, underscore a focus on strategic growth. CommVault continues to be recognized as a leader in its sector, earning a spot in the 2025 Gartner Magic Quadrant for Backup and Data Protection Platforms for the 14th consecutive time.

Strong Institutional Investor Confidence

Institutional investors hold a significant portion of CommVault's stock, approximately 92%, with consistent buying activity observed in 2024 and early 2025. This high level of institutional ownership indicates strong confidence in the company's strategic direction and financial outlook. Understanding the Target Market of CommVault is crucial for appreciating its investor appeal.

Positive Financial Outlook for Fiscal Year 2026

Looking ahead, CommVault projects robust financial performance for fiscal year 2026. Total revenues are anticipated to be between $1,130 million and $1,140 million, with subscription revenue expected to range from $727 million to $732 million. The company forecasts an operating margin of around 21% and free cash flow between $210 million and $215 million.

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