ExaGrid Achieves Historic Growth in the Third Quarter
ExaGrid, the innovator behind the industry's only Tiered Backup Storage solution equipped with Retention Time-Lock, recently shared its remarkable achievements for its third quarter, reporting the strongest performance in its history, with impressive double-digit growth compared to the same period last year.
Exceptional Financial Performance
For the latest quarter, ExaGrid not only remained Free Cash Flow positive but also recorded positive profit and loss statements and earnings before interest, taxes, depreciation, and amortization (EBITDA) for the fifteenth consecutive quarter. The company welcomed 150 new customers, with nearly one-third of those being significant six- and seven-figure deals. This milestone brings ExaGrid's active user base to over 4,400 clients, primarily consisting of upper mid-market to large enterprise customers.
Steady and Debt-Free Operations
One of ExaGrid's standout attributes is its financial stability; the company operates without any debt, generating a positive cash flow consistently. This foundation allows ExaGrid to focus on innovation and customer satisfaction, further strengthening its market position.
Highlights of Third Quarter Achievements
The impressive highlights for Q3 2024 included:
- A total of 150 new customers added.
- Revenue growth resulting in cash flow, EBITDA, and profit and loss positivity for fifteen consecutive quarters.
- Introduction of ExaGrid Version 7.0.0.
- New support added for Commvault Metallic.
- Media recognition in notable industry publications.
Industry Recognitions
ExaGrid garnered accolades for its service excellence, featured in MES Computing's 2024 Midmarket 100 list and highlighted in a TechTarget-sponsored webinar focused on effective ransomware preparedness.
Leadership Insight and Company Vision
The leadership team, represented by President and CEO Bill Andrews, expressed firm optimism regarding ExaGrid’s trajectory towards becoming a billion-dollar entity. Andrews emphasized, "We are the largest independent backup storage vendor, prioritizing maintaining healthy operations while propelling top-line growth amid a competitive landscape. We proudly report over 4,400 active installations around the globe, showcasing an impressive win rate in the competitive storage market."
Commitment to Service Excellence
ExaGrid's strong performance can be attributed to its commitment to a product that is reliable and user-friendly. Andrews shared that the company's 95% net customer retention and a high Net Promoter Score (NPS) of +81 reflect its dedication to client satisfaction. He noted, "The majority of our customers utilize our Retention Time-Lock feature for ransomware recovery, which underscores their trust in our solutions."
About ExaGrid
ExaGrid stands out by offering a unique disk-cache Landing Zone combined with a long-term retention repository and a scale-out architecture. Their advanced security features and tiered backup storage not only provide efficient backups but also enhance recovery processes, especially against the backdrop of increasing ransomware threats. ExaGrid's two-tiered approach ensures optimal data protection and operational reliability, making it an obvious choice for businesses seeking robust backup solutions.
Global Presence
ExaGrid has established a significant global footprint, with dedicated sales and pre-sales systems engineers across various regions, including North America, Europe, Asia, and South America. This extensive network underscores ExaGrid's commitment to catering to a diverse clientele and maintaining strong customer relationships.
Frequently Asked Questions
What are the key highlights of ExaGrid's Q3 2024 performance?
ExaGrid reported a historic third-quarter performance, adding 150 new customers and achieving positive cash flow for the fifteenth straight quarter.
How many active customers does ExaGrid currently have?
ExaGrid has over 4,400 active upper mid-market to large enterprise customers benefiting from its tiered backup storage solutions.
What is ExaGrid’s approach to securing data against ransomware?
ExaGrid employs a tiered approach with features like Retention Time-Lock and immutable objects to effectively combat ransomware attacks.
What notable recognition did ExaGrid receive recently?
ExaGrid was recognized in MES Computing's 2024 Midmarket 100 list and participated in a TechTarget webinar on ransomware preparedness.
How does ExaGrid ensure customer satisfaction?
With a NPS score of +81 and a 95% net customer retention rate, ExaGrid demonstrates a strong commitment to customer service and product reliability.
