ExaGrid Revenue Grew 50% Y/Y and 10% Q/Q

ExaGrid Systems, Inc. had an all-time record bookings and revenue in the quarter ending June 30, 2021.

This accomplishment was on the back of its record-breaking quarter in 1Q21, increasing both bookings and revenue to a new all-time high.

Revenue grew over 50% as compared to 2Q20, and grew 10% sequentially from 1Q21 to 2Q21. In addition, the company was cash positive in the quarter.

It added a record 137 new customers in 2Q21, including 38 6-figure deals, and has more than 3,000 active customers that use its Tiered Backup Storage to protect their data. Firm’s growth is accelerating, and the company is hiring 40 additional inside and field sales staff worldwide.

“ExaGrid continues to save IT organizations money on low-cost primary storage behind the backup application and increases performance, as well as saves money over first-gen de-dupe appliances such as Dell EMC Data Domain, HPE StoreOnce and Veritas appliances. ExaGrid’s Retention Time-Lock feature for data recovery from a ransomware encryption event is another reason why customers are choosing ExaGrid Tiered Backup Storage. ExaGrid is improving backup performance and scalability while lowering cost,” said Bill Andrews, president and CEO.

ExaGrid appliances have a network-facing disk-cache Landing Zone where the most recent backups are written without inline de-dupe for fast backups and are stored in an unde-duped format for fast restores. They use scale-out architecture, which maintains a fixed-length backup window and also eliminates expensive and disruptive forklift upgrades and product obsolescence. ExaGrid’s Adaptive de-dupe technology de-dupes the data into a non-network-facing repository where de-duped data is stored for longer-term retention, often for weeks, months and years. The combination of a non-network-facing tier (virtual air gap) plus delayed deletes ith ExaGrid’s Retention Time-Lock feature, and immutable data objects, guards vs. the backup data being deleted or encrypted.

Highlights of 2Q21:

• Strong competitive win rate at 72%
• Brought on more than 130 new customers
• Record revenue in both the Americas and international regions
• 38 6-figure new customer deals
• Remains cash positive over the last 4 quarters
• More than 3,000 customers protect their data with Tiered Backup Storage

ExaGrid Tiered Backup Storage – Built for Backup
“We have noticed that more organizations are replacing first-gen backup storage solutions like Dell EMC Data Domain, HPE StoreOnce, and Veritas inline scale-up de-dupe appliances that don’t provide the backup performance or evergreen architecture that ExaGrid offers. We credit this to the fact that ExaGrid is the only company that is completely dedicated to backup storage, which is why our Tiered Backup Storage system outperforms our competitors during pilot tests. We continue to replace low-cost primary storage disk from Dell, HPE, and Netpp and many other storage vendors, as ExaGrid is far less expensive for longer-term retention,” Andrews said. “ExaGrid sits behind more than 25 backup applications and utilities, and provides the fastest and most cost-efficient backup storage in the industry, and is now the only backup storage solution that can truly provide data recovery from a ransomware encryption event by implementing a non-network-facing tier, delayed deletes, and immutable objects.”

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 2-tiered approach provides the fastest backup and restore performance with lowest cost storage efficiency.

In addition, the company provides a scale-out architecture where appliances are 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.