MARLBOROUGH, Mass. - Tuesday, 10. October 2023
ExaGrid Continues Growth - 11 Consecutive Quarters of Free Cash Flow
(BUSINESS
WIRE) -- ExaGrid®, the industry’s only Tiered Backup Storage solution,
today announced that it had its strongest Q3 in the company’s history,
for the quarter ending September 30, 2023.
ExaGrid had a record
third quarter and had just under 20% growth as compared to Q3 of 2022.
ExaGrid continues to grow at about 20% per year. The company was Free
Cash Flow (FCF) positive, P&L positive, and EBITDA positive for its
11th consecutive quarter. ExaGrid added 130 new customers in Q3 2023,
including 2 large seven-figure new customer deals. ExaGrid has more than
4,000 active upper mid-market to large enterprise customers that use
ExaGrid Tiered Backup Storage to protect their data. ExaGrid’s growth is
accelerating, and the company is hiring to expand its sales teams
worldwide.
“ExaGrid is continuing to expand its reach and now has
sales teams in more than 30 countries worldwide and customer
installations in over 80 countries. We hit 4,000 active customer
installations in Q3. ExaGrid was Cash, P&L, and EBITDA positive for
the 11th quarter in a row. Outside of the United States, our business in
Canada, Latin America, Europe, the Middle East, Africa, and Asia
Pacific is rapidly growing and is now 45% of the business and we are
adding more sales teams around the globe,” said Bill Andrews, President
and CEO of ExaGrid.
“Years ago, ExaGrid realized that no vendor
was building storage specifically for backup, as they were all selling
primary storage products as backup storage targets, which is expensive,
or they were selling inline deduplication appliances, which are slow for
backups and restores and result in costly forklift upgrades. Backup
storage has unique needs, due to large backup jobs, incrementals,
synthetic fulls, backup rotation, long-term retention, and many other
aspects that make backup storage different than primary storage.
ExaGrid’s unique Tiered Backup Storage was built specifically to improve
backup performance, restore performance, scalability as data grows,
security, ransomware recovery, disaster recovery, and improve the
economics of backup, with low costs up front and over time,” said
Andrews. “Primary storage is not as fast for large backup jobs, is
typically not scalable, is very expensive for longer-term retention, and
it is network-facing, making it vulnerable to security attacks. Inline
deduplication appliances are slow for backups, slow for restores, are
not scalable, and are also network-facing making them vulnerable to
security attacks.
“ExaGrid prides itself on having a highly
differentiated product that just works, does what we say it does, is
sized properly, is well supported, and just gets the job done. We can
back up these claims with our 95% net customer retention, NPS score of
+81, and the fact that 94% of our customers have our Retention Time-Lock
for Ransomware Recovery feature turned on, and 99.1% of our customers
are on our yearly maintenance and support plan,” said Andrews.
Highlights of Q3 2023:
Two large seven-figure new customer deals in the quarter
11th consecutive quarter of Cash, EBITDA, and P&L positive operations
About ExaGrid
ExaGrid
provides Tiered Backup Storage with a unique disk-cache Landing Zone,
long-term retention repository, and scale-out architecture. ExaGrid’s
Landing Zone provides for the fastest backups, restores, and instant VM
recoveries. The Repository Tier offers the lowest cost for long-term
retention. ExaGrid’s scale-out architecture includes full appliances and
ensures a fixed-length backup window as data grows, eliminating
expensive forklift upgrades and product obsolescence. ExaGrid offers the
only two-tiered backup storage approach with a non-network-facing tier,
delayed deletes, and immutable objects to recover from ransomware
attacks.
ExaGrid has physical sales and pre-sales systems
engineers in the following countries: Argentina, Australia, Benelux,
Brazil, Canada, Chile, CIS, Colombia, Czech Republic, France, Germany,
Hong Kong, India, Israel, Italy, Japan, Mexico, Nordics, Poland,
Portugal, Qatar, Saudi Arabia, Singapore, South Africa, South Korea,
Spain, Turkey, United Arab Emirates, United Kingdom, United States, and
other regions.
Visit us at exagrid.com or connect with us on
LinkedIn. See what our customers have to say about their own ExaGrid
experiences and learn why they now spend significantly less time on
backup storage in our customer success stories. ExaGrid is proud of our
+81 NPS score!
ExaGrid is a registered trademark of ExaGrid Systems, Inc. All other trademarks are the property of their respective holders.
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Contacts
Mary Domenichelli
ExaGrid
mdomenichelli@exagrid.com
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