Nakivo Reports 10% EMEA 1Q24 Revenue Growth

Nakivo Inc. announced its Q124 financial results with following:

Revenue: Revenue in EMEA grew by 10%, in comparison to 1Q23. Of the total revenue, 60% came from the EMEA region, 29% from the Americas, and 11% from the AsiaPac region. The highest-growing producers of revenue in 1Q244 for Nakivo were Panama and Thailand.

Revenue grew more than 100% Q/Q in Bulgaria, Croatia, the Dominican Republic, Egypt, El Salvador, Hungary, India, New Zealand, Morocco, Norway, Panama, Philippines, South Africa, and the United Arab Emirates, among others.

Customers: Currently, Nakivo has over 28,000 paid customers in 183 countries. The customer base grew by 12% in 1Q24 vs. 1Q23. The number of new customers grew by 12% in the EMEA region, 14% in the AsiaPac region, and 10% in the Americas. Enterprises continue to choose company’s Backup & Replication as their preferred data protection solution, with new deployments growing by 10% in 1Q24 over 1Q23.

A sample of customers in 1Q24 includes Bangkok Metropolitan Administration, Datamine, Elevation Fiber, Royal Stroke University Hospital, University of Essex.

Some examples of customer success stories in 1Q24 include: Russell Sage College (Nakivo Helps a College in NY Save $15,000 in Backup Costs), Narayani Development Bank Limited (Nakivo Helps a Banking Company Improve RTO), and Sivam (Nakivo Helps a Livestock Feed Company Protect Microsoft 365 Data).

Solution Partners: Currently, the company has over 8,600 software solution providers as partners across the Americas, Europe, Africa, the Middle East, and the AsiaPac region. In 1Q24, 220 new solution providers joined firm’s Partner Programme and offer Nakivo products to their enterprise and SMB customers.

MSPs: MSP Program enables managed service, cloud, and hosting providers to deliver VM BaaS, VM RaaS, and VM DRaaS for their customers. In 1Q24, the number of MSPs grew by 31% vs. 1Q23. MSPs from Curaçao joined Nakivo’s MSP Program for the 1st time.

“We closed the first quarter of 2024 with a revenue growth of 10% in EMEA. We contribute this success in EMEA to our close collaboration with partners,” says CEO Bruce Talley. “In 1Q24, we also expanded our solution with support for Proxmox virtual environments. We believe that this recent addition will have a positive impact on our revenue in 2024, as many customers have been requesting the support for Proxmox.“