Company announces best quarterly revenue in its history and achieves 12th consecutive cash positive quarter
WESTBOROUGH, Massachusetts, Jan. 11, 2017 /PRNewswire/ -- ExaGrid®, a leading provider of disk-based backup storage with data deduplication solutions, today announced record revenue for Q4 2016. In addition, Q4 was the company's 12th consecutive cash positive quarter. ExaGrid grew double digits over the previous quarter and same quarter of the prior year as well as for the full year of 2016 over 2015. ExaGrid is growing faster than the overall market and continues to grow its market share position. Marking continued success in its upmarket move into enterprise accounts, ExaGrid also achieved a record number of six-figure new customer opportunities in the 4th quarter.
"ExaGrid had a strong record quarter in both North America and EMEA, and was cash positive for the 12th consecutive quarter," said Bill Andrews, CEO and President of ExaGrid. "We are seeing a record number of customers move to ExaGrid's next generation approach from the first generation inline/scale-up deduplication appliances as well as from backup software with deduplication to disk. Customers that deal with the day-to-day complexities of backup understand the unique value that ExaGrid's scale-out architecture with landing zone brings to their data center environment."
ExaGrid is the only second generation backup storage company that overcomes the three compute challenges of backup storage with data deduplication. All backup storage vendors reduce storage and bandwidth to varying degrees but provide slow ingest rates due to the fact that they perform data deduplication 'inline.' In addition, because they only store deduplicated data, restore speeds and VM boots are also very slow.
ExaGrid's ingest is three times faster - and restores/VM boots are up to ten times faster - than its closest competitor. In addition, since each ExaGrid appliance adds compute with capacity, the backup window remains fixed in length as data grows. Only ExaGrid uses a scale-out architecture with a unique loading zone, which addresses all the scalability and performance challenges of backup storage.
For the year 2016, ExaGrid:
- achieved a record bookings and revenue year
- maintained cash positive status across all four quarters and for the year overall
- announced the addition of three new strategic partnerships with Zerto, Nimble Storage, and Pure Storage
- won Storage Magazine's "Gold Product of the Year, Backup Hardware"
- was voted SVC Awards' "Product of the Year, Backup and Recovery/Archive"
- was rated #1 "Recommended Deduplicating Backup Appliance" in DCIG's 2016-17 buyer's guides
"ExaGrid has over 300 published customer success stories on its website, which is more than all other vendors in the space combined," said Andrews. "This demonstrates how satisfied customers are with ExaGrid's architectural approach, product, and customer support."
Organizations come to us because we are the only company that implemented deduplication in a way that fixed all the challenges of backup storage. ExaGrid's second generation product offers a unique landing zone and scale-out architecture providing the fastest backup — resulting in the shortest fixed backup window, the fastest local restores, fastest offsite tape copies and instant VM recoveries while permanently fixing the backup window length, all with reduced cost up front and over time. Learn how to take the stress out of backup at www.exagrid.com or connect with us on LinkedIn. Read how ExaGrid customers fixed their backup forever.
ExaGrid is a registered trademark of ExaGrid Systems, Inc. All other trademarks are the property of their respective holders.