ExaGrid had another record quarter of bookings growth and remained Cash, EBITDA, and P&L positive for its 9th quarter in a row
MARLBOROUGH, Mass.–(BUSINESS WIRE)– ExaGrid®, the industry’s only Tiered Backup Storage solution, today announced that it had an all-time record bookings and revenue quarter ending December 31, 2022.
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ExaGrid’s revenue grew over the previous quarter and the same quarter a year ago. ExaGrid is growing at over 20% per year while maintaining positive P&L, EBITDA, and free cash flow. ExaGrid added 192 new customers in Q4 2022, including 59 six-figure new customer deals and 3 seven-figure new customer deals. The new customer ASP was once again over $100K in the quarter. ExaGrid also had many six-figure existing customer deals in the quarter. ExaGrid has more than 3,750 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 in all aspects of the business worldwide.
“ExaGrid is continuing to expand its reach and now has sales teams in over 30 countries worldwide and has customer installations in over 80 countries. Outside of the United States, our business in Canada, Latin America, Europe, the Middle East, Africa, and Asia Pacific is rapidly growing,” said Bill Andrews, President and CEO of ExaGrid.
“Years ago, ExaGrid realized that no vendor was building storage that optimizes backup, as they were all selling primary storage products as backup storage targets 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 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 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, and it 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 94.5% net customer retention, NPS score of +81, and the fact that 92% of our customers have our Retention Time-Lock for Ransomware Recovery feature turned on, and 99% of our customers are on our yearly maintenance and support plan,” said Andrews.
Highlights of Q4 2022:
- Strong competitive win rate at 73% for the quarter
- Brought on 192 new customers
- 62 six-figure new customer deals and 3 seven-figure new customer deals
- Sales and support teams in 30 countries and customer installations in over 80 countries
- Company remains Cash, EBITDA, and P&L positive over the last 9 quarters
- More than 3,750 customers protect their data with ExaGrid Tiered Backup Storage
- ExaGrid won “Storage Company of the Year” and “Vendor Channel Program of the Year” at the SDC Awards in November, adding to its other 4 industry awards wins earlier in the year at the Storage Awards and the Network Computing Awards – for a total of 6 industry awards in 2022
- Added Cloud Tier support for disaster recovery in the AWS cloud and also improved performance and scalability of its Azure cloud tier
- Added fast cloning for Veeam and improved performance of Veeam synthetic fulls by 30X
- NPS Score of +81, with over 300 published customer success stories on ExaGrid’s website, and over 100 Gartner Peer Insights reviews
ExaGrid Tiered Backup Storage
ExaGrid provides Tiered Backup Storage with a front-end disk-cache Landing Zone, the Performance Tier, which writes data directly to disk for the fastest backups, and restores directly from disk for the fastest restores and VM boots. The long-term retention data is tiered to a deduplicated data repository, the Retention Tier, to reduce the amount of retention storage and resulting cost. This two-tiered approach provides the fastest backup and restore performance with lowest cost storage efficiency.
In addition, ExaGrid provides a scale-out architecture where appliances are simply added as data grows. Each appliance includes processor, memory and network ports, so as data grows, all resources required are available to maintain a fixed-length backup window. This scale-out storage approach eliminates expensive forklift upgrades, and allows for mixing appliances of different sizes and models in the same scale-out system, which eliminates product obsolescence while protecting IT investments up front and over time.
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 retention repository 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, Iberia, India, Israel, Japan, Mexico, Nordics, Poland, Saudi Arabia, Singapore, South Africa, South Korea, 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. Check out our 100+ Gartner Peer Insights reviews. ExaGrid is proud of our +81 NPS score!
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