2024-01-08 18:04:00
ExaGrid reports record quarter for bookings and revenue in Q4 2023, and 12 consecutive quarters of positive P&L, EBITDA and free cash flow.
MARLBOROUGH, Massachusetts, January 08, 2024–(BUSINESS WIRE)–ExaGrid®, the industry’s only Tiered Backup Storage solution, announces that it has achieved an all-time record for bookings and revenue in the fourth quarter ended December 31, 2023, and a record year in terms general in 2023.
ExaGrid’s revenue grew compared to the previous quarter and the same quarter of the previous year. ExaGrid grew over 20% in 2023, while maintaining a positive bottom line, EBITDA and free cash flow for the last 12 consecutive quarters.
ExaGrid added 173 new customers in the fourth quarter of 2023, including 59 six-figure deals and 3 seven-figure deals. ExaGrid has more than 4,100 active midsize to enterprise customers using ExaGrid’s Tiered Backup Storage solution to protect their data, with many Fortune 1000 customers joining during the quarter. As ExaGrid’s growth is accelerating, the company is hiring in all business areas around the world.
“ExaGrid continues to expand its reach and now has sales teams in more than 30 countries around the world, with installations at customers in more than 80 countries. Outside of the United States, the business in Canada, Latin America, Europe, the Middle East, “Africa and Asia Pacific is growing rapidly. We now do 48% of our business outside the United States,” said Bill Andrews, President and CEO of ExaGrid.
“A few years ago, ExaGrid realized that no vendor was creating backup-optimizing storage as they were all selling primary storage systems as backup storage targets or selling deduplication devices. online, which are slow for backups and restores and result in costly upgrades with complete IT infrastructure overhauls. Backup storage has unique needs, due to large backup jobs, incremental, synthetic full, backup rotation, long-term retention and many other aspects that make backup different from primary storage. ExaGrid’s unique tiered backup storage solution was created specifically to improve performance of backups, restore performance, scalability as data grows, security, ransomware recovery, disaster recovery and backup economics, with low upfront and long-term costs. of time,” Andrews explained. “Primary storage is not as fast for large backup tasks, is often not scalable and is very expensive for long-term retention, and is network-oriented, making it vulnerable to security attacks.” “Online deduplication devices are slow for backups and restores, are not scalable, and are also network-connected, so they are also vulnerable to security attacks.”
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“ExaGrid prides itself on having a clearly differentiated product that simply works, does what we say it does, is sized, well supported, and just gets the job done. We can back up these claims with our 95% net customer retention, a NPS score of +81, the fact that 92% of our customers have our Retention Time-Lock for Ransomware Recovery feature enabled, and 99% of our customers have an active annual maintenance and support plan,” said Andrews.
Q4 2023 Highlights:
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Strong competitive acquisition rate, over 70% in the quarter.
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Incorporation of 173 new clients.
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A total of 59 six-figure deals with new clients and 3 seven-figure deals with new clients.
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More than 4,100 customers protect their data with ExaGrid Tiered Backup Storage.
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Sales and support teams in 30 countries and customer facilities in more than 80 countries.
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Increased global sales: 48% of business was outside the United States.
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The company continues to have a positive treasury, EBITDA and income statement over the last 12 quarters.
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ExaGrid won “Storage Company of the Year” and “Backup/File Innovation of the Year” at the SDC Awards in November, adding to 5 industry awards it won earlier in year at the Storage Awards and Network Computing Awards, for a total of 7 industry awards in 2023.
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Greater integration with Commvault: Until now, ExaGrid might take deduplicated data from Commvault and improve the deduplication ratio by up to 3 times. In Q4, ExaGrid announced that both Commvault data compression and deduplication can be enabled and ExaGrid can dedupe even more copies of data.
About ExaGrid
ExaGrid offers Tiered Backup Storage, a tiered backup storage with a single disk cache landing zone, long-term retention repository, and scale-out architecture. ExaGrid Landing Zone provides the fastest backups and restores, as well as instant virtual machine recoveries. The “Repository Tier” or repository level offers the lowest cost for long-term service. ExaGrid’s scalable architecture includes end-to-end appliances and ensures a fixed-length backup window as data grows, eliminating costly end-to-end upgrades and planned product obsolescence. ExaGrid offers the only two-tier backup storage approach with a non-network-facing tier (generating a tiered air gap), delayed erasures, and immutable objects to recover from ransomware attacks.
ExaGrid has physical sales and pre-sales systems engineers in the following countries: Germany, Saudi Arabia, Argentina, Australia, Benelux, Brazil, Canada, Qatar, Chile, CIS, Colombia, South Korea, United Arab Emirates, Spain, United States United States, France, Hong Kong, India, Israel, Italy, Japan, Mexico, Nordic Countries, Poland, Portugal, United Kingdom, Czech Republic, Singapore, South Africa and Turkey, among other regions.
Visit us at exagrid.com or connect with us on LinkedIn. See what our customers have to say regarding their own experiences with ExaGrid and learn why they now spend much less time performing backups. All this in our customer success stories. ExaGrid is proud of its NPS score of +81!
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Contacts
Press:
Mary Domenichelli
ExaGrid
mdomenichelli@exagrid.com
1704743063
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