ExaGrid reports record quarter for bookings and revenue in Q4 2023 and 12 consecutive quarters of positive P&L, EBITDA and free cash flow.
Marlboro, Massachusetts, January 08, 2024–(BUSINESS WIRE)– Year achieved.
ExaGrid’s revenue increased compared to the previous quarter and the same quarter last year. ExaGrid has an upside potential of more than 20% in 2023, while maintaining positive bottom line, EBITDA and free cash flow for the last 12 consecutive quarters.
ExaGrid added 173 new customers in Q4 2023, including 59 six-figure deals and 3 seven-figure deals. ExaGrid has more than 4,100 active medium-sized enterprise customers using ExaGrid’s tiered backup storage solution to protect their data, with several Fortune 1000 customers joining during the quarter. As ExaGrid’s growth accelerates, the company is hiring in all business sectors around the world.
“ExaGrid continues to expand its reach and now has sales teams in over 30 countries around the world, with installations for customers in over 80 countries. Outside the United States, Canada, Latin America, Europe, the Middle East In business, “Africa and Asia Pacific are 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 vendors were building backup-optimizing storage because they were all selling primary storage systems as backup storage targets or selling deduplication devices online, which provide backup and restore. are slow to perform and result in expensive upgrades with full upgrades. Improvements in IT infrastructure. Backup storage has unique requirements due to large backup tasks, incremental, synthetic full, backup rotation, long-term retention and many other aspects that make backup ExaGrid’s unique tiered backup storage solution was specifically designed to improve backup performance, restore performance, scalability as data grows, security, ransomware recovery, disaster recovery and backup economics, reducing initial and With long-term costs,” Andrews explained. “Primary storage is not as fast for large backup tasks, is often not scalable and too expensive for long-term retention, and is network-oriented, making it vulnerable to security attacks.” “Online deduplication devices are slow to backup and restore, not scalable, and also tied to the network, so they are also vulnerable to security attacks.”
“ExaGrid prides itself on having a clearly differentiated product that works, does what we say, is the right size, is well supported and simply gets the job done. We are proud of our 95% net customer retention can back up these claims with an NPS score of +81, the fact that 92% of our customers have our feature activated Retention time-lock for ransomware recoveryAnd 99% of our customers enjoy an active annual maintenance and support plan,” Andrews said.
Q4 2023 Highlights:
Strong competitive acquisition rate, over 70% in the quarter.
Addition of 173 new customers.
A total of 59 six-figure deals with new customers and 3 seven-figure deals with new customers.
Over 4,100 customers keep their data safe with ExaGrid tiered backup storage.
Sales and support teams in 30 countries and customer facilities in more than 80 countries.
Global sales growth: 48% of business was outside the United States.
The company’s treasury, EBITDA and income statement have remained positive for the last 12 quarters.
ExaGrid won “Storage Company of the Year” and “Backup/File Innovation of the Year” at the SDC Awards in November, adding to the 5 industry awards it previously won at the Storage Awards and Network Computing Awards, for a total of 7 awards . Industry Awards in 2023.
Better integration with Commvault: Until now, ExaGrid could take deduplication data from Commvault and improve deduplication ratios by up to 3x. In Q4, ExaGrid announced that both Commvault data compression and deduplication can be enabled and ExaGrid can extract even more copies of data.
ExaGrid Tiered Backup Storage provides a tiered backup storage with single disk cache landing zone, long-term retention repository, and scale-out architecture. ExaGrid Landing Zones provides the fastest backup and restore, as well as instant virtual machine recovery. 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 non-network-facing tiers (creating a tiered air gap), delayed deletion, and immutable objects to recover from ransomware attacks.
ExaGrid has physical sales and pre-sales system 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 The 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 say about their experiences with ExaGrid and learn why they now spend less time doing backups. It’s all in our customer success stories. ExaGrid is proud of its NPS score of +81!
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