Record Bookings and Revenue in 2Q22 for Exagrid

ExaGrid Systems, Inc. had an all-time record bookings and revenue quarter ending June 30, 2022.

Its revenue grew over 1Q22 and also over 1Q21. The company is growing well over 20% Y/Y. In addition, it was cash positive in the quarter, for the 7th quarter in row. It added 168 new customers in 2Q22, including 43 six- and seven-figure deals, and has more than 3,400 active upper mid-market to large enterprise customers that use firm’s Tiered Backup Storage to protect their data. Growth is accelerating, and the company is hiring over 50 additional inside and field sales staff worldwide.

“ExaGrid’s continued momentum is the result of a highly differentiated product with a 75% competitive win rate and the ongoing expansion of our sales team and working with our channel partners across the globe. We continue to see that organizations are realizing that primary storage disk is too expensive for longer-term retention and that traditional de-dupe appliances don’t deliver the backup and restore performance needed to ensure that data is always available. Organizations face challenges with using de-dupe appliances, including high ongoing costs, poor backup and restore performance, as well as a lack of scalability and ransomware recovery features. ExaGrid offers the best story to fix backup storage, as well as the most unique ransomware recovery solution in the industry, with the best cost up front and over time, the fastest backup and restore performance, the ability to recover from a natural or man-made site disaster, and the ability to recover data after a ransomware attack, which remains top of mind in today’s world,” 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. The firm uses scale-out architecture, which maintains a fixed-length backup window and also eliminates expensive and disruptive forklift upgrades and product obsolescence. Its 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 with ExaGrid’s Retention Time-Lock feature, and immutable data objects, guards vs. the backup data being deleted or encrypted.

Highlights of 2Q22:

• Competitive win rate at 75%
• Brought on 168 new customers
• 43 six- and seven-figure new customer deals
• Company remains cash, EBITDA and P&L positive over the last 7 quarters
• More than 3,400 customers protect their data with Tiered Backup Storage

Tiered Backup Storage – Built for Backup
The company 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 fast restores and VM boots. The long-term retention data is tiered to a de-duped data repository, the Retention Tier, to reduce the amount of retention storage and resulting cost. This 2-tiered approach provides fast 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 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, Israel, Japan, Mexico, Nordics, Poland, Saudi Arabia, Singapore, South Africa, South Korea, Turkey, UAE, UK, USA, and other regions.

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