iXsystems Enters 2020 With Sustained Growth in TrueNAS Revenue

iXsystems, Inc. starts 2020 strongly after 4 years of >50% CAGR growth in its TrueNAS product family.

This momentum reflects the adoption of Open Source storage, the TrueNAS M-Series, and power-efficient TrueNAS X-Series storage appliances. Unlike other storage start-ups, iXsystems is self-funded and was cash flow positive for 2019.

Drivers of 2019 TrueNAS Growth
The introduction of the TrueCommand single pane of glass storage management system and TrueNAS price-leadership in flash systems contributed to a strong 4Q19. The expansion of company’s international sales team and channel resulted in the doubling of international revenues. The firm also added 24×7 TrueNAS support in Europe to service the needs of this market.

The software enhancements and high quality of the TrueNAS software and support stimulated the highest ever TrueNAS annual growth in revenue and units shipped.

Key 2019 TrueNAS statistics include:

• 44% growth in TrueNAS sales

• 70% growth in support revenues

• 100% growth in all-flash system revenues

• 100% growth in international revenues

• 250 new enterprise customers

Record revenues in 4Q19
“After a soft 1Q19 in the storage market, TrueNAS resumed its steady 50% growth rate. Our focus on software quality, data protection, and enterprise-grade support provides our clients with compelling economics in comparison to cloud and traditional storage vendors. We’d like to thank our customers, partners, and the FreeNAS community for their ongoing support,” said Brett Davis, EVP.

2019 TrueNAS Product Milestones
The TrueNAS M-Series unified file, block, and object storage appliances are proving to be the go-to storage solution for businesses, schools, and government agencies that need open source economics and the flexibility to choose all-flash or hybrid systems using the same platforms and management. The M-Series provides high availability and 100Gb/s performance using technologies including NVDIMMs, NVMe, SSDs, and the ZFS file system.

Enterprise Storage Group (ESG) reviewed the TrueNAS M-Series, configured with hybrid or all-flash storage, and provided a report outlining the leading price-performance for both virtualization and video production workloads.

“The combination of ZFS, open source, and a lean sales force provides efficiencies that enable iXsystems to offer high performance, feature-rich solutions at high value price points. We calculated a significant delta. Based on our testing and analysis, we found that iXsystems can typically offer up to double the performance at half the cost of their major competitors,” commented ESG.

Both the TrueNAS X-Series and M-Series are also being used in partner solutions. The Asigra TrueNAS backup appliance was the winner in SearchStorage’s Backup Products of the Year.

Growth in multi-petabyte backup systems was strong in 2019.

FreeNAS, a leader in open source storage operating system, is integral to the success of the TrueNAS platforms. Version 11.3 of FreeNAS became available in 4Q19 and features enhancements that are now available in TrueNAS.

With over one million deployments and a growing community, hundreds of thousands FreeNAS can be found in organizations around the world of every size and industry, including Fortune 100 companies.

The entry-level FreeNAS Mini and FreeNAS Certified appliances are used in offices and development labs. The introduction of the 10GbE FreeNAS Mini XL+ with quiet fans increased the unit and revenue growth in professional-grade FreeNAS systems.

TrueCommand, released in 2Q19 for use with TrueNAS and FreeNAS systems, has proven to be an accelerator of growth in larger multi-systems TrueNAS deployments. This single pane of glass management system simplifies operations and increases security and reliability of the infrastructure. A $1 million+ defense contract for TrueNAS was awarded based on TrueCommand features.

“TrueNAS combines Open Source economics with unrivaled flexibility. Whether a client needs 10TB all-flash or 10PB of HDDs, we have a solution using the same software, enterprise-grade support, and single pane of glass management capability,” concluded Morgan Littlewood, SVP, product management.

2020 TrueNAS Plans
Continued growth in partnerships and the TrueNAS family (which includes FreeNAS products) product line is key to firm’s revenue growth. iXsystems is making investments to help channels compete, deliver, and improve their bottom line.

The introduction of TrueNAS 11.3 is expected to accelerate TrueNAS adoption. TrueNAS 12.0 with new features and ZFS enhancements will also be released in 2020.

Resource:
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