Commvault Systems, Inc.

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Thank you, Gerald. Good morning, and welcome to our earnings conference call. I'm Mike Melnick, head of investor relations, and I'm joined by Sanjay Merchandani, Commvault CEO, and Gary Merrill, Commvault CFO. An earnings presentation with key financial and operating metrics is posted to the investor relations website for your reference. Statements made on today's call will include forward-looking statements about Commvault, 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 discussion of the risks and uncertainties that could cause the company's actual results to be 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 non-GAAP and GAAP measures can be found on our website. Thanks again for joining us. Now I'll turn it over to Sanjay for his remarks. Sanjay?

Thank you, Mike. We delivered strong Q4 results, ending the fiscal year with renewed momentum. Let me share some highlights. Total ARR increased 15% year-over-year. Our subscription and SAS ARR, which represents 71% of total ARR, grew 38% year-over-year. Metallic, our three-year-old SAS offering, exceeded 100 million in ARR, placing it among the fastest growing SaaS applications in history. We had another strong quarter of new customer additions, adding over 600 subscription and SaaS customers. And we did all of this profitably, delivering 22% EBIT margins while continuing to return cash to shareholders. Gary will share more details shortly. But today marks the next phase of our strategic evolution to become the leading cloud-first data protection company in the industry. Our mission is twofold. First, we will continue to deliver industry-leading data protection to gain share in the mature on-premise market while simultaneously taking share in the rapidly growing SaaS market. Second, we remain intently focused on accelerating our growth in a responsible and lasting way, which should result in continued operating margin expansion over time. Let's discuss priority number one, strengthening our leadership position. To do this, we are laser focused on helping customers solve today's biggest IT challenges, manageability, security, and cost. As our customers modernize and move to the cloud, they must also protect and manage data that is distributed and fragmented across clouds, regions, applications, services, and data centers. In tandem, new SaaS applications are rapidly becoming the mission-critical systems of tomorrow. In fact, IDC recently reported that SaaS spending for enterprise applications is growing at a 17% pace. If managed improperly, these applications will become onerous and costly to manage. Even with this fast growth, on-premise data will continue to grow and remain an IT priority. You see, on-prem and SaaS are not mutually exclusive They are complementary components of the hybrid cloud. This is why we deliver industry-leading data protection that provides our customers with dynamic choices and best-in-class capabilities through software and SaaS. This is the power of one, one platform. Unlike our competitors, we don't make misleading claims about our technology leadership. We don't have to. We were rated number one across all three of Gartner's critical capabilities report for data protection, data center, Edge, and cloud. To enhance manageability and reduce costs, we built automation, intelligence, proactive monitoring, and security and compliance capabilities deeply into our platform. This gives our customers a most simplified approach to data protection across all workloads, environments, and locations. Now let's discuss security. The worlds of data protection and security are blurry. As a result, CIOs, CISOs, executive teams and boards are making holistic decisions across their entire IT environment. And the wrong decision can have lasting and costly consequences. After all, no one is immune to cyber threats that exploit the vulnerability of fragmented environments. We are the only company with a single platform with built-in security to proactively monitor and assess risks, mitigate cyber threats, and protect critical workloads. It's why more customers are turning to Commvault for their data protection. For example, Where security matters most, federal agencies, including U.S. Army FORSAM and the Department of Veteran Affairs, chose Commvault during the quarter to evolve the data protection. And Metallic was also the first data protection SaaS offering to achieve FedRAMP high status. As the only vendor in our space with advanced cyber deception for early ransomware detection, we help customers protect their data before it is compromised. In Q1, We plan to introduce several new capabilities to defend customers from exfiltration risks and dormant threats. This includes industry-leading integrations with companies like Microsoft Sentiment, CyberArk, and others. Which brings us to the next fundamental IT challenge. With increasing complexity and risk comes additional costs for constrained organizations. To address this, low-touch as-a-service models like Metallic solve their IT problems more efficiently. But that's only part of the solution. Automation is critical. We embraced AI several years ago to help our customers manage their costs while also simplifying and enhancing their experience. This helps enable us to deliver a five times better total cost of ownership than our closest competitor. And it is imperative in the future. So we will continue to engineer it into our offerings. This continuous innovation is why customers turn to Commvault for their data protection needs. For instance, We recently displaced the legacy incumbent and increased our footprint at a Fortune 100 retailer. With thousands of stores serving millions of customers worldwide, data protection is paramount in their decision. Commvault offered what the other vendors could not, a modern and proven data protection solution on one platform, managed with a single pane of glass. Which brings us to our second strategic priority around lasting and responsible growth. To achieve this, we're accelerating our discrete focus on our land expand and renew motions while also reallocating investments towards our high growth areas. Gary will discuss in more detail. We have also been working hard to remove friction across the customer journey to make it even easier and more cost efficient for customers to engage and be successful. Lastly, we're relentlessly focused on our own cost of operations, including people, technology, resources, and facilities. While the Macquarie environment remains unsettled in the near term, we believe that our responsible growth strategy enables us to focus on investing in and delivering a data protection platform that elegantly solves our customers' hard problems. We believe this bodes well for accelerating growth in fiscal year 2024. Before I turn the call over to Gary, I want to point out a key financial reporting change that he will discuss. We've been in a multi-year evolution, which is paying off. Now, with the success of our subscription software and Metallic SaaS offerings, it's time to open the aperture on this part of our business and give you more insight into our progress. With that, I'll turn it over to Gary to discuss the numbers.